All Forum Posts by: Daray Olaleye

@Mark Sewell Yes sir! Hope you enjoyed it!

@Account Closed

You're not sure if the inmate has investment property but you have a feeling? And if the inmate does, you're going to try to get said inmate to sell to you? This is what I've gathered from your message.

If you're going to try to get him to sell to you anyways after you do all of this research/detective work to find out if he has property, why not just ask him? Let me know if I'm missing something. I'd love to help.

@Rene Calacuayo Hey, I'm a Texas investor but I'm not sure I understand your question. Can you please clarify? 

@Carrington Crutcher

When you say foreclosure homes, I assume you are speaking of homes in the foreclosure process but haven't yet been foreclosed. We like to call those pre-foreclosures and it is a great source for wholesaling. I definitely recommend you start there if you're having trouble. 

@Junard Lane On this site: Tools -> Calculator -> Wholesaling. You'll find a few helpful videos and links along with a wholesale calculator. Practice, practice, practice! 

@Anthony Garvey You are not seeking financing with a lender. Also, your seller is often a motivated individual not a savvy investor. If both are facts in your scenario, you will seldom need pof or a pre approval. 

@Jon Schwartz

I think you have the major ones covered man, awesome list! Interested to see what everyone else adds selfishly. I also like to look at unemployment and rental vacancy rates over that time span (tracking changes year over year) as well.  

@Christopher Redden

Congrats.

It's always good when the problems you face are good problems!

Nonetheless, I understand as I have actually been in this exact situation before. First thing you want to look at are the existing contracts. Anyone's lease coming due? Even if it's 2 (maybe even 3 months down the line, it may be the lease you may want to deny a renewal. Your lender should be okay with this timeframe, as it is "reasonable" for the circumstances. 

Sometimes you'll find that you won't even need to make a hard decision. I'm guessing that you won't be able to really talk to the tenants until you close but I'd try to have a conversation with both tenants to let them know the change taking place while getting a feel for both tenants and their outlook on their living situation. I did this once and while breaking the news to 1 of the 4 tenants in my four-plex that I'd be looking to occupy a unit and before I got the words out, she said that if none of the leases were up that she'd be willing to move given a few weeks notice. It ended up being way easier than I thought but it was because I was willing to have the hard conversations. 

Hope this helps. 

@Clarence Williams 

Finding sellers that are motivated is the single hardest but most profitable thing that you can learn in this business. 

Instead of spewing out a ton of strategies, all of which are available through this site and with a quick google search, none of that really matters because none of the strategies uncover the real way to find sellers.

If you want to guarantee a deal, my best suggestion for finding sellers is to choose any of those hundreds of strategies (one that suits your strengths, needs, market, etc) and to get started down that path and remain consistent.  

The worst thing I see new investors do is switch from strategy to strategy thinking that the next strategy is the golden ticket. 

Consistency is the golden ticket. Welcome to the Chocolate Factory. 

@Allison Meggison Pm me. I can give you the script that I use.