All Forum Posts by: Brenton Tigner Jr
Brenton Tigner Jr has started 6 posts and replied 35 times.
Post: 1st caller from Wholesaling yellow letters..Please help
- Ellenwood, Ga
- Posts 36
- Votes 9
@Carlos Carbajal That's excellent. Too bad I didn't catch this before my last convo with the seller. I am definitely going to store this advice away for later conversations.
Post: 1st caller from Wholesaling yellow letters..Please help
- Ellenwood, Ga
- Posts 36
- Votes 9
@Jay Hinrichs Thanks for the tip...What methods would you suggest would help me with those skills before actually doing it in real time?
Post: 1st caller from Wholesaling yellow letters..Please help
- Ellenwood, Ga
- Posts 36
- Votes 9
@Jose Flores, thank you greatly for your response and wow, that is an awesome tip I clearly didn't think of. You were exactly right that she was not a motivated seller but I do still have open contact with her and can still contact an agent that I had only slightly communicated with in the past. Now armed with a little bit more of a "gift" I will do exactly what you suggested and reach out to them. Thank you very much.
Originally posted by @Jose Flores:
Hey @Brenton Tigner Jr congratulations on your first call. I'm so glad to see that you have started marketing. Most people feel that they need all the answers before they start and then they never get started. Given that here are some thoughts on your lead. First, she doesn't seem highly motivated to sell. We only want to work with highly motivated sellers ("I must sell this house now"). Second, know who your end buyer is. For me my end buyer is a landlord that wants dirt cheap houses or a flipper who wants distressed property at a discount. Her house is rehabbed already. So what would I do with this property? Use it to build my relationship with a real estate agent. Real estate agents have access to MLS. This is the best resource to use. And this is how you get access to it. Call a local real estate agent, tell them what you do and explain to them what you can do for them. That's the twist; not what they can do for you but what you can do for them. It might sound like this. Hello Mr. Agent my name is Jose Flores and I am a wholesaler in the area and I am looking for a new real estate agent to work with. I have sent out some marketing material this week and I just hear back from a seller. As you probably know I need to get properties under contract at deep discounted prices in order to sell them fast. Therefore, many of the sellers I work with do not meet my criteria. Here is that property address and contact information. I don't want any referral fee, but what I do need help with is getting comparable sales from the MLS." Is that something you can help me with? The would give them my search criteria and have them email the comps. Works like a charm, but it begins with you creating value for them. Hope that helps.
Post: 1st caller from Wholesaling yellow letters..Please help
- Ellenwood, Ga
- Posts 36
- Votes 9
So I just started sending out Yellow letters as a wholesaler earlier in the week and got the first call from a prospective seller. She asked a bit about me and my brand and she expressed that she is looking to sell the house she owns. She is an absentee owner that is also an investor with tenants in an SFR..
She says that she owns the property outright and has put money into the house so it needs no updating or work. She said she had gotten an offer 1 year ago for 232k but wasn't ready to sell, but now she feels the time is right. I looked on zillow and saw that her home estimated near what she'd like to get. I asked why she wanted to sell and even if maybe she might consider extending an option to buy to her tenants but she said she didn't want to get into that.
I really don't know if there is anything I can do with this as I told her that I would not be able to give her the best price for the property..Does anyone have any advice I could use before calling her back about the property??
Thanks in advance
Post: "Spirit" property, is this really possible?
- Ellenwood, Ga
- Posts 36
- Votes 9
Greetings all, I am recently looking into properties for wholesaling opportunities and decided to venture into some tax lien records. As I am clicking on the different parcel numbers, I stumble upon a property with a relatively high tax lien compared to other residential properties. Once I looked up the address, I find out the location is a high volume selling liquor store. Now I am a newbie in real estate and have no experience with any of this but barring any other liens on this property, can this business really be purchased at the measly amount of the taxes it owes to the state??
Post: 1st Deal BRRRR confusion
- Ellenwood, Ga
- Posts 36
- Votes 9
@Kodi Floyd in the BP podcast show 233 @Arianne Lemire mentioned using a fannie mae program called the "Delayed financing exemption" which she explained is available to someone that buys a house cash and want to pull the money out immediately without the seasoning period. This may be an option if you want to look into it.
Originally posted by @Kodi Floyd:
I'm trying to get all my ducks in a row and set up some exit strategies for my first BRRRR. I'm turning a SFH into two apartments that rent for $1600 total. Purchase is $50k, rehab is $35k, ARV is $160,000. I have a hard money lender that s recommended through BP that is willing to do business with me, however, I am having issues finding a bank that will Refinance or allow me to pull equity out of the house once it's done. Every bank I have spoken to shuts me down once they hear that I am not living in it. Am I missing something here? How is everyone that utilizes this strategy pull money out of these rehabs?
Post: "Stupid" Mistakes Every Newbie Landlord Makes
- Ellenwood, Ga
- Posts 36
- Votes 9
This is an incredible thread @Mindy Jensen.. I am taking notes from everyone here as I plan to house hack by the fall. Thanks to all for contributing with your experiences.
Post: How much info can a PM share with a landlord?
- Ellenwood, Ga
- Posts 36
- Votes 9
Hi, I am a complete newbie with no properties yet but I have been shadowing a property manager for the past 3 weeks. They told me that they have a yearly course that they have to complete for the fair housing act. I am not allowed to look at anything that has renters names on them. Might it be possible they are concerned that if you override their decision on an applicant while they are liable under the fair housing act, litigation would fall on them solely if an issue arises?
Post: Update!!....As a newbie shadowing a property manager
- Ellenwood, Ga
- Posts 36
- Votes 9
@Andrew Kerr That sounds like an excellent angle to look into. Yeah, I'm sure those rent numbers are legitimate, an employee from Apartments.com brought in an market analysis report that I have been going over. Definitely going to research this...Thanks for the input..I'll keep you posted
Post: Update!!....As a newbie shadowing a property manager
- Ellenwood, Ga
- Posts 36
- Votes 9
@Andrew Kerr Additionally, because this property was first rent capped, most of the tenants still pay less than $500 for a 3 bedroom, however the market for the same is at nearly $900.