All Forum Posts by: Frank Geneski

I will caution you though, if some new wholesaler in my area wanted to learn the business I wouldn't ever give them good information. Why would I want to create competition for myself?

It doesn't hurt to try, if he hesitates or gives me attitude, I will back off. At least I will be able to introduce myself, as I am sure we will be seeing each other in the future. I am going all in with this, no option for failure :)

That's a great question Travis!

I am going to be contacting several 'big' wholesalers in my area. What kinds of questions should I be asking them?

I will be asking one wholesaler if they could mentor me. I'd like to be prepared and ask him any other important questions but don't want to waste his/her time. Here is what I have so far:

1. What has been your most effective way of finding sellers?
2. How long have you been wholesaling?
3. Do you currently have any property available for sale? I also flip.

What kinds of questions will be most useful to me?

I have been recently researching YellowLetter(s). I am in the process of sending out 1000 - 5000 pieces in my region. I know how effective the simple letter can be, but I have been playing around with some other content instead of the standard ones. Here it is:

Dear Homeowner,

I am looking to buy a fixer upper in your area. If you are thinking of selling and your house needs repairs, please give me a call. I will give you a fair offer and I am able to close very quickly.

Thanks and regards,
Frank Geneski

The reason for this type of letter is to weed out anyone who wants top dollar for their house. I only want to be in contact with people who have a beat up house and need to sell. I am a contractor and just got my Realtor's licence, I will be doing most of the repairs and listing the property myself.

Thoughts on my idea and 'YellowLetter'?

Thank you everyone! Looking forward to getting as much out of this site as possible, and helping others out if I can. Happy to be here!

Typical flip in my area (Toronto, Canada) will be $225K, give or take $50K. Starting out, I dont think I will or can handle more than one flip at a time. My future plan is to have have multiple properties going though.

I still want to pick up solid cash flow properties, instead of falling back on the flips that don't work out. That might be an exit strategy for a break even flip.

My goal is to do both. Use the money generated from flips to acquire rental properties that I hold onto long-term.

I am currently 31 years old and would like to retire by the time I am 40 from passive income from my rentals.

I'd like to start this goal off in the most efficient way, keeping in mind my current financial situation and available funds.

Hi, I just recently joined this forum and obviously looking to get all the knowledge, advice, criticism, mentoring, coaching.. etc. I can possibly get. I am going to let everyone know my current situation and see what kind of advice I can get from all the experienced investors on here :)

I currently have two duplex's and thinking of selling both of them to buy a bigger property, say a 4,5, or 6 plex. After selling those properties I will have $250K in cash to play with.

I am also in the process of getting a HELOC on my primary residence for around $250K. With this money I have plans on flipping properties.

I have managed the duplex's myself for the last 5 years. I currently have my own contracting company and just got my Realtor's licence. I am planning on being a full-time RE investor.

Thoughts on my situation and what would be your strategy for growing my RE portfolio? Thanks you!

I have been lurking on here for some time, I have lots of questions to ask, but first want to join this community and introduce myself.

A little bit about myself, I am a 31 year old husband and father of two, living in Toronto (Ajax), Canada. Former professional on-line poker player, currently own a Home Inspection company and recently got my Realtor's licence. I own two duplex's that I have managed myself for the past 5 years. In that time, I have also flipped 4 properties and now looking to invest in RE full time!