All Forum Posts by: Adam Macias

 The importance of an assignment of contract is you're assigning a contract between you and the seller. There is no you told the buyer about it and then hope for the best. Your security in making sure you're paid an assignment fee by the title company is the contract itself you assigned.

The seller and the buyer both receive different HUD statements. The assignment fee is not on the seller's HUD statement in my experience. Most sellers have no clue what you're even talking about if you try explaining wholesaling and all these guru terms created in real estate. This is more a problem in a person's confidence and proof of concept in thinking they're doing something wrong. You're not doing anything wrong. Assignments are everywhere in contract law. It's not special to wholesaling.

There's so much software available for MLS and real estate data from websites now I can list at least 5 that provide everything you need data wise. Yes, they cost a monthly fee but there's no brokerage you need to abide to or yearly dues. For me personally, I love agents (Yes I mean it not just because I'm on BiggerPockets haha) I just couldn't do it based on my intentions and exit strategy of a deal.

It's like when people ask me about if they should get a license to wholesale real estate. Only if absolutely necessary because the law requires a license. Otherwise, if your intention is to not represent clients, there's no reason to waste money or time getting a license.

 Do you have a list of investor buyers yet?

 It's the call reluctance. Which is extremely easy to get over. I've made videos on this before. The biggest thing is to realize without chemistry, there's no chance of getting a deal. You have full power to hang up on people if nothing is there. If someone cusses you out, immediately hang up and don't give it a second thought. If someone is playing games or is a nasty Realtor acting like a seller, hang up and move on. There's no law saying it's illegal and it's not immoral to hang up on negative people who have zero interest in selling a house.

Only stay on the phone with people who actually want to talk to you. Your intuition and gut feeling developed hundreds of thousands of years before being "nice" ever did. So trust it when you make your calls. The analytical mind and our ego are what give us call reluctance because we think if someone is not interested we did something wrong. You don't have time to create a sale, you're looking for deals not creating them.

I prefer cold calling over text messaging any day of the week for several reasons. One of them being you know the person's intentions right off the bat when they answered the phone. You can pick up nuanced details like if they're negative, motivated or even willing to speak with you.

Put yourself in the mind of the homeowner. We as marketers in wholesaling sure love to do stuff that we don't like done to us.

There's marketing strategies way better than cold calling and mass texting but even when someone says, "yes I'm selling my house" you STILL have to speak with them on the phone and meet them in person so texting just gets in the way, creates skepticism that doesn't need to be there in the first place and look at all the legal issues you have before even starting. Just my take.

Interesting to see what CRM's agents use compared to investors, however I love using Podio because you have so many customized integrations you can do including email blasts, sending and signing contracts, SMS, all of that within the app. It's the best all in one CRM I've ever used.

Do you mean you're trying to buy a deal you're wholesaling or your end buyer is using a conventional loan?

Just know in starting out you should at least give yourself 3-6 months before giving up on if wholesaling is for you. There's a lot of things that can set you back, you will have to push hard and deals may fall out of contract. It's all normal even for experienced investors but it gets better over time when you've set systems in place and nailed your niches.

My suggestion is first focus on building a list of cash buyers and investors that are actively doing deals. Once you have 20-50 buyers on a list and you know what they're shopping for, it gives you confidence to know what a deal looks like. This step alone may take you 1 month if you don't have much time because you're not just looking to "network", you're looking for those serious players in your markets.

After you've had a good buyers list built, then focus on seller leads. I'm moving into the Indianapolis market and doing literally the same thing. First focusing on buyers. Then focusing on agents I can work with. Then knowing which title companies and attorneys I can wholesale with. Then focusing on sellers.

 That's why starting out with building a list of investors buyers is most important before anything else. Once you know people who are actually buying and know what they want, everything else is easier. Not 100% "easy" but it's way better starting with having a network of solid buyers.

 Bird dogging sounds nice but you still have to deal within contracts with finders fees to make sure you get paid. I'd stick to assignable contracts and wholesaling because it's one additional step from what people mean by being a bird dog. Finding buyers is the most important part in building your confidence.

Imagine have 50 solid buyers you know have the funds, are actively buying and you see the before and after projects first hand. Wouldn't that give you some confidence?