All Forum Posts by: Alex Jefferson

Here's a quick update. I finally got my 1st lead sheet back from a potential seller. They are looking to sell the place for $299,000 and the value of the home is $347,000. However, I know Zillow is not the most reliable place to get that info so I will get the info from my brother who is a real estate agent. He will be back in town tomorrow morning. I will get the comps as well as the actual value of the property.
The seller owes nothing on the property at all and they are just looking to get rid of it. I will be taking a look at the home this weekend when they are available.
This is where it's going to get interesting. I am going to offer 50% of the value of the home correct? Then I will not offer no more than 65% of the value if the seller doesn't go with the 50% offer.
If I can get the home under contract for 50% off the value..I think I should be good...but please...anything I am missing please let me know. I treat this place like my church. There is so much information on this site.
If you think your going to hurt my feelings..by all means...say it anyway. The only way to learn is to go out and actually do it and to also get criticism from others that have actually been through the fire before.
Thank you to all!!!

Wow these tips really help. I'm glad I post here lol
Tomorrow I have 4 leads to speak with. I'm trying to get these houses under contract ASAP and at good prices.
Thanks again!!

Sure Nick, on my bandit signs I have my toll free # printed just letting them know I can buy their house for cash as soon as possible. They call the # and I have a recording asking for their name, fax, email or both so I can send my lead sheet over.

Am I doing it wrong? If so let me know please so I can make the necessary adjustments. This is my first time going at it so any help would be much appreciated.

So I purchased my bandit signs (50) and I have started to put them up in a certain area to see what would happen. I went out and put up a total of 10 signs in one area last Saturday. So far I have got 8 calls from potential sellers. Now this area is tricky because the avg price for a house is around $300,000 + and the taxes are astronomical avg around $12,000 + per year. I've sent each of them my lead sheet asking for all the necc information so I can get the process rolling. Once they get back to me I will post in this thread to make you all aware.

Thanks.
Alex

Good stuff Ann. I'm sure once I start placing these homes under contract, you will want to make any investors you know aware.

How about this..why don't you give me a good example of a Westchester home that would be a great deal for one of your investors. Give me the #'s so I have an idea of the type of deal you are talking about.

Also, you are so right about $300,000 not being high end. It's actually on the low end. I own a 2 bedroom co-op in White Plains where I live and it has a value of $275,000 - $300,000.

I'm sure it shouldn't be a problem but I will definitely let you know. Give me like 2 weeks and I'm sure I will have one. Thank you for the advice and I'm sure I will be speaking with you soon.

I was wondering the same thing but I think it's very possible to not only wholesale homes in Westchester but to actually be successful. From what I have been reading on this site, the hardest part of wholesaling is finding leads or motivated sellers. I actually know some people that are currently looking to get out of their homes right now and they will be the first ones I contact when I go full blast into this in about 2 weeks. The part I'm trying to focus the hardest on is finding people (investors) that are willing to purchase the homes. Whether it's for retail or whether it's just for flipping. I don't think it will be a problem but the only way to know would be to jump head first into it and take the chance.

Thanks for the info...can you please give an example of how you would present a wholesale deal to a potential buyer using prices like 250k - 300k? Thanks so much Zubair.

I was up last night taking a look at the Yellow Letter Mail site and I have to say I think I am going to utilize the services. I have everything else ready to go. I have bandit signs, business cards, flyers to hand out and now my last step is going to be the Yellow Letters. I can't wait to get started.

Hello Ann, I'm glad you know the area around here. Not to many home around here need repairs and the people can't afford the taxes so there are some looking to get out of their homes. So if a home has a value of 299k whats the most someone would purchase it for in your opinion? Say the home didn't need any repairs or at the minimum it needed like 10k in repairs.