All Forum Posts by: Ben G.

@Ken Scarbrough  you've come to the right place if you are looking to learn and network with like minded individuals.  Congrats on your first purchase!  You're already taking action.  If you continue taking action you will do great.  

Address? 

These answers are coming from a wholesalers perspective. 

1. I don't see why your standard Georgia GAR Purchase & Sale Agreement can't work and why a wholesaler wouldn't use it.  As long as everyone is disclosing everything, that's the most important aspect of the contract.  My buyers use the Standard Indiana Realtors PA  and I haven't had any problems. 

2. I like to get earnest money to filter out the not so serious "buyers."  It is deposited with escrow at the title company. 

3. Contingency Clauses - what works and what doesn't?  All of my buyers have had a contingency for inspection.  It's important to remember that a lot of the motivation from the sellers is to sell the house  As-Is, and therefore, my buyers are just looking for something major that I may have missed as a wholesaler.  It's important to act on your inspection contingency as soon as possible, because a lot of the motivation for the seller is to sell the house fast.  They don't want to wait weeks or months to sell the property.  

It's disturbing to learn that you have been presented with 100s of wholesale deals that you're not able to make an offer on.  Make sure you're working with reputable, and knowledgeable wholesalers who are presenting real deals that make sense.   All but one of my deals have sold prior to inspection and I've received offers before the buyer has even seen the property.  That doesn't mean that after they made the offer they didn't ask to do their own research in regards to inspection.  I had one buyer @Steve Lawson save us from a bad deal.

Believe me if it's really a good deal and if it's truly a knowledgeable and reputable wholesaler, then you won't be overly worried about all of these concerns you bring up.  Hope this helps!

I send out my letters to absentee owners with equity.  These are the best sellers to target.  However, with only 50 letters keep in mind that you might not get any calls.  It took me sending 900 letters to get 50 calls, but my letter was somewhat vague, and therefore I had a lot of call from "curious" sellers.  

Investor Carrot is great and easy to implement, but I also think it's important to build a custom solution as well, and focus on getting on the 1st page of Google.  If you have more questions feel free to PM me. 

This marvelously written post should answer all of your questions!

They all get their information from the same source.  What set's them apart is the customer service each service offers.  I'm sure @Jerry Puckett and @Michael Quarles will help you make an educated decision.  Good Luck!  I've had a lot of success with direct mail and I hope you do too! 

@Richard Rockwood  In spite of your lack of capital, I think it's great that you took action, even if it meant using credit cards.  It looks like a great deal, even if you are using credit cards.  The  important things is that you didn't dwell on it for month and lose the deal, better to take a risk and do something rather than sit on the sidelines.

Thank you everyone.  

It pays to not be greedy when you are considering a partnership with another individual.  That's the best advice I can give to you @Christopher Laws 

@Samuel George  in the future find someone you trust on the ground locally in addition to using BiggerPockets like you are doing here!

I used this method to estimate my repairs when I first started.