All Forum Posts by: Paul Amegatcher

Glad I could lure you in with my subject. The real question: Can you wholesale property that is owned by a trust? Is it just like any other negotiation? Who would I ultimately need to talk to if I can make it happen?

I know the best answer - "Read 'The Book on Estimating Rehab Costs' by J. Scott". I promise I will read it, I just haven't been able to purchase it yet. 

Other than that, are there any quick rehab methods out there? I've heard some say estimate $8-$10 per square foot, and I've heard others say $20-$60 per square foot. Are any of these formulas valid?

I have zero background in construction or rehabs. I'm looking into both rehabbing and wholesaling, but I know I won't always have the chance to have a contractor come in and do the bids or estimates BEFORE I make an offer to the seller. 

I want to go the route that some of these guys are saying and just get a deal under contract, but rehab costs are the biggest thing holding me back from making offers. Comps, sure. I can market and I can negotiate. I just have no experience with construction. 

I appreciate any advice!

I've just started doing some Direct Mail and 4 days after sending 100 mailers to a focused area I've already received 5 phone calls, and 5 opportunities to do walk throughs with the owners. Whether a deal happens or not isn't what I'm worried about. My question is, if I continue to use Direct Mail and have a successful response rate, how do I turn those leads I can't procure into sales. I've read the forums on how wholesaling is illegal, but then I just listened to podcast #42 with Mike Nelson, who isn't an agent, isn't double closing, and is still wholesaling in Ohio-- granted that pod is from 2013, but I guess my question, is there anyway to attempt to wholesale whatever overflow I have from my Direct Mail campaign in Ohio? 

Cheers

Any have some example copy for their direct mail campaigns?

@Paul Amegatcher Have you compared Beenverified to TLO? Have you tried both services? $25 is wayyy cheaper, esp if you run a lot of searches. TLO is on point, just wondering if it can compare. 

Hello everyone, I'm going to preface this with I have ZERO experience with wholesale properties. 

I see everyone who seems to do this type of business is looking for a cash buyer. 

Experienced wholesalers: Do you ever deal with buyers who are financing the purchase for investment? If not, why?

Hi @Paul Amegatcher, I heard that trying to wholesale a short sale is walking a fine legal line, so I'm going to stay away from that for now.

But with the pre-closure process, do I just get a lead and do the sale contract between just me and the owner(s), no agents involved? And when I buy the property I'm just receiving the owner's equity and then paying the lender back and any other liens and legal fees right (or if I'm wholesaling, the investor would then be paying those fees)? Is there anything else involved?

Thanks! 

1. Is it possible to wholesale a pre-foreclosed property and save it from going to auction?

2. If you get a response from a direct mail campaign to homeowners in pre-foreclosure, how do you begin the process? Do you have to have an agent negotiate with the bank, or can you just come to an agreement with the owner? Where is the bank involved, if at all?

3. Can you use a typical "and/or assignee" Purchase and Sell agreement, or is there a more technical, legal process involved?

4. Do you have to pay anything at the time you put the property under contract?

Thanks for any guidance you can provide!!