All Forum Posts by: Cornelius Charles

Hey Guillermo.  What do you mean by an "on market wholesale deal?"  I'm curious as to how that would work?  I'm not sure i can even think of a way something like that would work, unless you're just talking about some kind of "finders fee," or something. 

Hey Robert. Sorry to hear about your experience.  I am a fortune builders student and i have always questioned some of their tactics.  Although i don't have a direct response to your question, my suggestion would be to ask them directly for a refund.   The worse that can happen is that they say no (which i assume will be the case).   I guess my question is, what other financing options are you referring to?  Obviously i don't know your situation, but i assume any financing option they offer would come with a high interest rate or other unfavorable terms, so not sure if it would have made a difference in the big scheme of things. 

@Nick Kobe I'll send you a PM. My wife should be able to point you in the right direction. 

@Alex Schredl

I'll send you a DM.

Buying an out of state property at an auction for a new investor sounds like nothing but trouble to me.  

@Peter Bocian You should be able to find SFRs in Simi Valley for under 700K, even on the MLS. If you would like, i could have my wife set you up with a MLS search for homes under 700K. Also, I have a VA doing a little cold calling. If i ever cross anything in Simi that doesn't make sense for an investment for us, i can shoot it your way. Shoot me a DM and we can connect.

@Kenny Colato

Remember that just because someone wants to sell their home off market, and not list with a realtor, doesn't mean that they want to sell it for a discount.

Have you studied lease options or selling financing? Presenting sellers with more than one option may help increase your chances. 

Hey Baird. Good questions. I haven’t done direct mail in a few years. We stopped because our response rate was around 0.25%. Just wanted to give you that data point.

1. We are doing marketing in a couple of markets. Most of the sellers know it’s a huge seller’s market, so keep that in mind. Another way to bring value is with a quick close, but it sounds like you will be getting a loan, so you may not have the speed that a cash purchase would. Saving money on commission though could be a big one for the homeowner, especially with these prices.
2. I thought you were trying to buy directly from the homeowner? Where did the use of an agent come from?
3. I would close on the home the same way, with the exception of you would be doing the paperwork yourself vice the realtor.
4. Not that I know of, but that would be a good question for a lender.

As for what you can say when someone says “Tell me more,” I would just be honest about what you are trying to do. Tell them that you are looking for a home in the area for you and your wife, so you sent mail to all of the homes in the area. Who knows, maybe you can get lucky and find someone who is looking to sell and you happened to catch them before they reached out to a realtor. If you are looking for a “great deal” though, I would be mindful that a lot of people understand the market and will probably not be willing to sell at a steep discount, but you never know.

@Emmanuel Gonzalez IMHO, it's going to be very difficult to wholesale in Southern California on a consistent basis in this market.  Not much reason for a homeowner to sell at a discount nowadays. I started virtual wholesaling a few months ago. If you can find a good partner out of state, i think you can find more success. The profits are a lot smaller than they would be here, but i believe there is more opportunity. 

we have used both freedom soft and Batch leads. I would say Batch leads is simpler/faster once you set it up, but freedom soft has more functionality.