All Forum Posts by: Clay Huber

I agree with everyone above. Heck, I'll pay you a $50,000 finder's fee; however, that of course assumes the #'s all work out to the point where my end profit is where I want it to be.

TERRIBLE experience with them, but the deal was really solid so at the end of the day, I knew it was worth just biting the bullet and enduring the pain.

Despite what most of the guru programs pass along, the saying "it takes money to make money" applies to wholesaling too.

Although it is not 100% impossible to find deals with no money in your bank account; however, the odds greatly increase when you have some money to put to use.

Lots of good advice already posted here in terms of 'where' leads could come from, so not going to add to that.

I would do a Google search and you'll get plenty of sites. The good thing is that all the "custodians" (as they are referred to) have great education sections on their site.

In a nutshell, the 'true' self directed IRA/401k allows people to use retirement funds to get involved with more forms of investment rather than solely stocks and bonds.

Given how subjective the term 'deal' can be, by nature, the average length of finding 'deals' is also going to be very subjective.

Not to state the obvious, but a 'deal' to a wholesaler is going to need to be different than a 'deal' to a flipper.

First off, from just a basic negotiation viewpoint, ALL your statements to the seller should be angled on how "they" benefit from it. They don't care about you, they want to know how it helps them.

Example...

Wrong way - You say: The upstairs bathroom needs work, that is why my price is where it is at.

Right way - You say: The upstairs bathroom looks like it would take you quite a bit of time and money to fix up. In order to save yourself the time and potential headache, maybe it is worth just getting it off your hands at a bit of a lower price?

The majority of it though is simply a matter of motivation. It's pretty darn hard to "create" motivation in someone. They are either 'truly' motivated, or 'think' they are motivated. There is a big difference.

With the truly motivated sellers, they are open to your input. If someone says they are motivated, yet seems completely closed minded, then odds are, they are just tire kicking at the moment, but who knows, maybe a couple weeks/months down the road, they will call you back and finally indeed be truly motivated.

I would go to eLance.com, post a broad listing of what you "think" you want, and when the replies start pouring in, you can ask more questions at that point in time and essentially get yourself a free consultation from experts.

Of course, "experts" is pretty subjective, but the good thing with eLance.com is that the people all have customer feedback, so if you are talking with someone who has great feedback, your confidence level in their advice can obviously go way up (and vice versa).

Basic forces of the economic market should "equalize" the proportions. Meaning, in a smaller market, sure it may be "small", but it is also going to have less investors (aka competition); whereas in the bigger markets, sure there are more houses, but you can bet your bottom dollar that there are also more investors who want those houses along with you.

I have no idea what it is (and I'm guessing the statistic isn't even tracked, let alone how it could be), but it'd be interesting to know what the "investor per home" ratio is in different markets. I'd guess it is pretty similar, if not bigger, in the smaller sized areas.

Between BiggerPockets and Google, there is absolutely no need for anything that costs this much. One benefit to a program like that is all the information "is" organized and in one place; however, let's put Benjamin Franklin's saying of "a penny saved is a penny earned" into effect...

You spend 20 hours researching on BiggerPockets, and searching on Google. By doing this, you are "saving" (and therefore "earning") $1,250 per hour ($25k/20).

To me, I'd gladly sit in my underwear at my computer, maybe make a few phone calls, if I knew I was essentially earning $1,250 an hour.

Obviously, if you can gather all the available information out there in less time than 20 hours, you're "earnings" rise that much more.