All Forum Posts by: Allen Felker

Honestly I need to get to your level. 

@Jay, Wow Michael Quarles is my biggest inspiration in business besides Warren buffett. He's who got me into studying negotiation. 

I know for a fact it's more difficult on the west, but not impossible, right? 

No disrespect intended in any of this, 

@Steve being an NFL quarterback is difficult and there's some people that do it very very well, I just like to negotiate. 

As far as taxes go, to be 100% I'm not big into flips because i dont like managing contractors and at 24 I'm not patient enough to wait 3-6 months for a flip, in 3-6 months I can do 5-10 deals that equal the amount (pre-tax) on what a flipper makes. Most wholesalers work to become flippers or buy and hold investors, I see more opportunities in equities when there's a market crash. If you're familiar with Berkshire Hathaway amd Warren buffet I'm basically using wholesaling the way he uses GEICO once I automate this more I want to spend more time analyzing businesses to purchase (whole or partially through stock). 

I honestly think developers have it the hardest, not wholesalers. What makes this business seem hard is something everyone overlooks: you cant predict when a seller becomes motivated, you could send out 10,000 and not get a call back, not because "wholesaling doesn't work" but because at that moment in time no one on your list happened to be motivated. 

Also, we never go into a negotiation when price is the MAIN concern we're looking for situations, not pretty houses or even ugly houses for that matter, That business model alone basically forces us to be in a business where we literally help people going tthrough difficult situations. 

Todd toback does a ton of deals in San Diego. 

Michael Quarles wholetails in California. 

I think the difference is mindset. If we can send a man to the moon, we can definitely wholesale on the west coast. 

Demarrius my first deal was honestly pure luck, I cold called FSBO's for an entire month.

Situation: Divorce, abusive relationship. 

My agent partner helped with the Comps, etc. 

@Jay I bet we have two VERY different opinions on what "poor" is TRUST ME ON THAT ONE, ever had to donate plasma just to buy pampers? And there's more..

I will never become an agent if they ever do change the laws who gives a sh*t I have a private lender, by the time they change laws I'll probably be contemplating retirement. 

Are we not all in this business to make a profit? 

The seller and the 30k issue is being dismissed, I can be an *** too, send me the comps I wanna see ,PROVE IT. 

The Midwest is an excellent place to wholesale. Wisconsin has very little competition...except dane and Milwaukee county. I love it. 

I don't brag about checks, or ripping sellers off, I have a conscious, I believe in karma, god, the whole shebang. 

I need some wholesalers to back me up lol. 

They're killing unarmed men and raising the prices on life saving medication by 600+% let us make our Damn money, there's serious issues in this world. 

I personally don't lie to sellers, I don't trick old ladies, honestly if I saw that the old lady needed as much as she could get I'd pass the deal to my agent and cut myself out the deal. Some people in this business actually DO operate with integrity, minimize risk and help people out. 

Ive been seeing some smart people make really dumb comments today... A rehabber ALSO doesn't close unless they think they can resell..a buy and hold investor doesn't buy unless they think they can rent it out at a price that makes economic sense..

I think the REAL problem people have is that a guy with a few hundred dollars can negotiate his way into controlling an asset 100,000 times his net worth and make a profit. Like i said before people are basically hinting towards the whole: if you're not rich yet or if you dont have excellent credit you can't be in real estate. That's BullSh*t. 

If my grandmother had a house she couldn't sell or afford to sell and was in a situation where she needed or really wanted a fast sale, I don't see the problem...

I have never wholesaled in the ghetto, ever. It's more based on situation than price when something is bought at a Wholesale price. 

A good deal does not mean someone is was cheated out of anything, the negotiations I take place in are not adversarial, there's no haggling or fancy sales techniques, just 100% cooperation and problem solving. 

I think people need to realize that when these deals take place, it's the motivation to cure some sort of unpleasant situation that makes them possible, so price isn't what the negotiations revolve around. 

Youre absolutely right Stephen, too many people dont understand that!