All Forum Posts by: Dylan Thomas

@Ashley Ramirez I love mentors. I use them, I pay them, etc. They can deff help you, if they are good. Don’t trust anyone until you’ve seen what they are doing. There’s a lot of “mentors” or “gurus” who will literally just take your money for these “courses” that are not good. I’ve seen $30+k courses that are honestly just basic information. Don’t fall victim to these guys. Study, learn, but most importantly, take ACTION. Go all in when you see an opportunity 

@Ashley Ramirez wholesaling is honestly really simple. You find a property that’s undervalued and sell it to someone else for the right value. Example. House is worth 150k fully rehabbed. 150k X 75% is 112.5k. Then it needs 20k in rehab. So 112.5k minus 20k rehab is 92.5k. You want to make 10k on your wholesale fee. So 92.5k minus 10k is 82.5k. That’s your max allowable offer. If you can get it for less, even better. Get the contract signed, and send it out to cash buyers. They will jump all over it because it’s a decent deal. They have 25% equity at the end of the day to sell it and that’s their profit. 

You don’t need a mentor per say. It’s literally as easy as I just told you. you just need to find a way to get leads. Without leads, there are no deals. So you can direct mail, drive for dollars, cold call, text, email, etc etc sellers trying to buy their properties. 

My only advice is create a business. You want to be professional and credible. I wouldn’t sell to you unless I could google you and see reviews, testimonials, blog posts you do, community work you preform, etc. 

Buy ever house in my market. 

Driving for dollars. Literally tell every single person you know you buy houses. Direct mail. Online advertising. Etc. Deals are out there. Sure they may be less of them, but I’m still finding them at the end of the day. 

@Joe Matthews

When to buy... when there’s a deal. Doesn’t matter if it’s a good or bad market. A deal is a deal

@Ashley Ramirez

Get really good at rehab numbers. There’s nothing worse than seeing a wholesaler tell me it needs 20k in work, when I know it’s at least 50k. Waste of my time lol. Also, it means you didn’t get a good deal on it either.

@Rashad Ellis

Heck ya. A mouse trap or 2 is cheap. Lol no but in all seriousness, budget for repairs and maintenance. Make sure you don’t cut corners on vacancy, repairs, capx, management fees, etc when you underwrite deals. That will make or break you.

@David Beltz

I’m in Harrisburg. I don’t personally create multiple LLCs. I have 1 llc for my marketing/branding company. Then 1 for all my rental properties. That’s what I do personally. It’s easier in my opinion, and llcs don’t protect you as much as you want them to. Good insurance does in my opinion. I carry a lot of it haha

@Daniel Ziner

Don’t do a PO Box. Also, build a brand first. What’s the first thing you do when you want to go out to eat? GOOGLE! haha

You need to create a brand that’s searchable, likable, and recognizable. I use a rental property I own as my mailbox. I know people who have sent 30,000+ letters with their home address on it. 0 problems.

The bigger issue is building a brand. A local community brand. That builds trust, and will get you deals.

@Trent Danelski

I only send handwritten direct mail. Average response is around 4%. Spent 6-8k so far on direct mail. I kept a 3 unit I got off it and I’m wholesaling 2 more for a total of 35k in profit for me. Don’t let people tell you it doesn’t work. It does. Just people have their opinions on it. But opinions are not facts. Lol I’ll spend 6-8k to make 35k all day long