All Forum Posts by: David Bateman

Brian Watkins let me know if you'd like to brainstorm. Would love to share what's working (and what's not!) for us and hear about how you are doing as you attempt to expand to other markets.

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I will be there.

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Tina Mendoza I recommend you check out Sean Terry's podcast and if you don't want to sign up for his program, don't. You can start a wholesaling operation without buying anything from him. With that said, like anything you start, you will need education that will either come from partnering or outright paying for it. The mentor you seek does not have time to mentor everyone who wants. Check out the podcast, if you listen to 40 or 50 of those, you won't need to post on BP for wholesale deals in HOT Orange County.

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Do you have a broker?! I mean, you live in CA and the bldg is in Chi-town, this is your first foray into multi-story office leasing and you have a ton of vacancy! Don't be penny wise and pound foolish, you need to interview three-five office brokers at the building and tell them all to come with their ideas for repositioning the building and leasing it up ASAP! Also, you need to understand what floor you'd be willing to chop up and spec out for smaller tenants to be ready to go immediately (normally a 2500sf tenant can't wait for a build out), the momentum and buzz you create will start to build once you get some activity. Your broker will rally the troops to get prospects into the building and see all the great things that you're doing in there. Be prepared to spend money on giveaways and incentives - your broker will have the best ideas for your particular market. Lastly, I successfully repositioned a 103,000sf office building that went into foreclosure after its largest tenant (also State Farm) moved out leaving the building approximately 20% occupied. Within 9 months, we plugged a government agency in approximately 30,000sf and spec'd out 4 suites ranging from 1,300 (it was what the market needed-yours may not need to go so small) to 2,500sf and leased those almost prior to completing construction on them and we leased another 10,000sf to two other tenants totally turning this building around. It's not easy to do and requires local expertise to get it done so don't waste anymore time and interview those brokers next week! They will drop what they are doing to meet with you, and if they don't they are not the group you need anyway. I know some good brokers in Chicago that could help at least give you some local insight if you'd like. Let me know how I can help.

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@Julian Robinson If you have a limited budget, I would certainly be sending post cards over YL's since you can send out nearly twice as many. Also, before sending anymore mail, I'd make sure you are targeting your mailings to zip codes that investors are buying in...it won't do you any good to get a deal in a part of town that nobody wants to buy in and not be able to sell it. Let me know if you need any specific questions answered along the way. Good luck!

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Originally posted by @Cory Gardner:

I already have 10 investors on my buyers list at the moment that pay cash. I am just seeing of other ways people use to market to get the house sold quickly to help the homeowner and myself.

Call your buyers first, out of 10 on your list you should have one or two that can give you their opinion on the deal and perhaps take it off your hands.

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Originally posted by @Cory Gardner:

@Guy Gimenez

that is what I thought as well. I have it in my contract that I am going to hold the money at my attorney but when I called my attorney he said that it is supposed to be held at the sellers but I don't think that is correct. I'm going to call him back and see if he can hold the deposit.

Thanks for everything!!!

Hey Cory, congrats on getting the deal under contract. Put the EMD with whatever entity you have escrow opened with, sounds like you need a title attorney that works with investors.

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Originally posted by @Andrew Cordle:

We have a once in a lifetime opportunity to have a REI Meetup at the Home Depot Corporate office with several Real Estate Investors speaking as well as one of the Presidents of the Home Depot.

HD as agreed to provide us lunch as well. This meeting is "FREE" and there will be no pitching or selling at this event.

Here are some of the things that will be happening at the event:

1. Hear from a President of the Home Depot.

2. HD is going to bring in the Regional Manager as well as District Managers and all local PARs to listen to your complaints and what they can do better, to serve the Real Estate Investor community.

SO... BRING YOUR IDEAS!!!

3. I will be bringing in a Chief Marketing Officer of a very large advertising company to teach us how to market for houses in our very tight market. He as worked with Pepsi- Buffalo Wild Wings- Seagram's, and many other Fortune 500 companies. He also worked with Fox News and was the GM of the most listened to radio stations in America.

4. A Custom Home Designer for Investors, will be teaching on design, including tile, paint colors, kitchen cabinets, granite and much more. She will be passing out entire SKU list of houses she has designed for investors to everyone there for free.

5. We are going to have someone speak on rehabbing houses. What is working and not working in the Atlanta Market. He will be teaching on flipping houses and the steps that you need to be successful at flipping. He will also be talking briefly talking about New Construction, as it is so HOT in ATL.

6. Networking --Networking -- Networking so bring your business cards.

7. I would like to have Two Panels one for lenders (hard money lenders as well as private lenders) and one for wholesalers and marketing for the ATL Market. (If there are lenders and wholesalers that would like to do so)

If you would like to attend this REI Meetup please let me know as it stands right now we need to limit this to 50 investors. At HD corporate there are 2 different levels of security that you have to get through so you will for sure have to be on the list....

We are looking for a date in early or late March, just depending on the room availability at the HD corporate office.

If you are interested please @ tag me here and let me know.

Andrew

Please tag other ATL Investors who may want to attend.

@David Bateman @David Begley @David T. @Joel Owens @Manesh Hardeo @Rick Baggenstoss @Todd Whiddon

As I stated in a previous thread, I am in! Can't wait, the event sounds awesome and I wouldn't miss it. Thanks for putting together...I am happy to help anyway I can.

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Originally posted by @Leonard Bradley:

Thanks David. Would I pretty much just be using the title attorney for closing? @David Bateman

Yes. You'll have them run title and confirm that any all encumbrances are cleared prior to closing ensuring you have clean title to the property.

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@Andrew Cordle I am in

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All Forum Posts by: David Bateman

David Bateman has started 16 posts and replied 112 times.

Post: Wholesaling - New Strategies

Post: Atlanta Lunch Meetup - Thursday, February 19th

Post: Latest Real Estate Wholesaling for Beginners course

Post: HELP Leasing Office Space

Post: Post direct mail marketing action

Post: How to market property once I have it under contract

Post: Where to put my earnest money deposit once I get a house under contract

Post: Atlanta Meetup @ Home Depot Corporate Office

Post: When to use Title Company ??

Post: Bigger Pockets Atlanta Group