All Forum Posts by: Jerry Puckett

Insted of fooling with labels, I'd suggest printing right on the postcard. Most modern printers will accept the size and stock. Just create a template in word the same size as your postcard and insert some merge fields.

You'll still have to apply your postage though

There are tons of services out there that would do this for you, but of course it costs a little more. Well worth the time saved. Have you figured out how much your time is worth so you know if you're actually saving money?

Hello @Ernesto Sanchez,

Welcome to BP. I have two referrals for you depending on which type of lender you're looking for. The first is a mortgage lender. She can handle portfolio, traditional, refi's etc. I've used her 4 times in the last year and referred her at least as many. If I had 2 or 3 Adrienne's, I firmly believe I could rule the world...

Adrienne Kirby, Gateway Mortgage Group, LLC

And here's a guy in town that my partner's have used and I've referred a lot. He specializes in getting it bought with cash (hard money) and then refi into conventional. Making an all cash offer can help you to negotiate better deals. I get feedback like: "Cary really knows what he's doing. He's not touchy feely, he's blunt. But if Cary says it can be done, it can be done. If he says it can't, it can't.

Cary Donham - Capital Concepts Inc

Hope that helps!

Please tell me that you are NOT saying that those who have worked hard and succeeded somehow owe you a free education?

Don't get me wrong, I am for you in spirit, but I do have a problem with the way you are approaching your situation. In your very first post on this thread, you stated that you had read so many negative forum posts and blogs on this site. Do you understand that you yourself have started and are responsible for yet another incredibly long, frustrating wholesaler bashing thread? Like or not, that's what this is....and was destined to become.

From your first post: "I'm also disappointed in the fact that REAL SUCCESSFUL wholesalers won't stand up and give their piece to cut out all the extra crap."

I know you read @Will Barnard's post....one of the longest on this site. Maybe you noticed that in the first three pages or so, it was ME as a newbie in YOUR shoes all those years ago saying the same things you are with some of the same attitude and grit. But I thank God (literally) that Will started that thread and cared enough to befriend and educate me. Do you not see? Will is a successful wholesaler and he's laid it out for you. @Jay Hinrichs is a successful wholesaler and told you how it is. You can like it or not like it but it doesn't change how it is.

I cannot tell you how many times I've "stood up" in threads like this and tried to shout down the moronic wholesale hatred of the uninformed (which by the way does NOT include Will or Jay. Discernment is a pretty important skill to develop, especially on a public forum). But what I learned was that it was a WASTE OF MY TIME. You have to fight the fights you can win. (I cringe even as I type this knowing that I'm not going to change anyone's mind, not even yours, and this will be 15 or 20 minutes I will never get back)

So while all that wholesale hate was going on, I pretty much just quit posting and went out and made money instead. No amount of success stories, no number of impossible situations that Agents are not equipped to handle, no logical attack on flawed equity stripping logic or questioning if I was "ethically" obligated to offer top dollar (I'm not, you're not, heck, they don't even do it in retail) could slake the hate or turn the tide of an entrenched culture. Fortunately, that was not necessary for my own and many others success.

10 years later and I've done hundreds of wholesales. When I had enough money, I listened to @Michael Quarles and started wholetailing. Then I began flipping, then started buying a few to hold. Now I do all of the above depending on the situation. Looking back, there's only one thing I would have done differently.....I would have gotten a license. Not because I needed it, obviously, but because it would have made everything a lot easier and cut the time it took to "arrive" in half.

So as someone who's been there and done that (exactly what you're looking to do), bought and sold the t-shirt, and lived very comfortably for a decade from my RE earnings, I can tell you this....everything you need is right here on this site. If you listen. If you stay open minded. But most importantly if you take responsible action. 

.......... "Everyone claims to want to help the fellow wholesalers but I really don't see a lot of that going on. Just a lot of opinionated warnings that aren't backed up with anything concrete"....."So do your due diligence as a pro and provide me with concrete facts that will help me make a solid decision to do wholesaling or not, rather then have me confused about the whole concept all together"....

Oh, and this is rich: "Do you really want to be responsible for killing our dreams without providing any real alternative?" Really!? That right there is enough to make even the most kind hearted change the channel and shut the door on you. Your dreams are yours including whether or not it dies and / or has alternatives.

Who is "everyone"? Could you direct that please? It is no one's "due diligence" or obligation to educate you. Please acknowledge that you understand that. It is NO ONE'S responsibility to give you their time and teach you for free the things they spent their own time, energy and resources to learn. We all paid our dues. It's your turn now. Fortunately, you do not have to reinvent the wheel

Here these guys are taking their time to point you in the right direction. They did not have to do that. It sounds like you discount their pearls of wisdom because it isn't what you want to hear and are demanding they tell you something else you can use. That's embarrassing because that is exactly what (in part) gives wholesaling newbs a black eye and tarnished reputation....the notion that they are owed something for nothing. 

There are gobs of helpful posts on this site concerning wholesaling. Every question has been asked and answered to death over and over. That's where discernment comes in. You have to chew the meat and spit out the bones. My friend, mentor and wholesale Hero was @Ryan Webber (rest in peace my friend). He passed some years ago but his collected posts are still relevant and an absolute gold mine. He was the absolute CHAMPION of wholesalers on this site, but also always told it like it is. He would be the very first one to back this attitude of yours up right back there on page one.

Again....I'm on on your team, ....team wholesale. You can do this if you really want to.  But wholesale hate will likely never die on this site. The best we can do is try not to facilitate it through threads like this with inflammatory titles and challenges. People in the future will look at and point to your posts and say "this....this is why newbie wholesalers are so annoying".

Just sayin' I hope you'll take it easier on me than I did on you. I haven't posted in a very long time, but your post moved me.

Awesome @Chiyane Peterson! The best of luck to you. Be persistent, consistent and tenacious. It's about numbers, but also, and this is very, very important.....it's about people. Talk to your sellers (and I don't care if they're in NJ or Kansas) like they are people who could use a hand, not like a mark to be suckered.

But that said, you also do not have to put up with any crap. Most starting out want every call to be a lead, and every lead to be a deal, so the mindset is to linger long, bend over backwards and WASTE TIME. Don't be that Gal. Be quick to say "NEXT!"...then make sure to follow up with even the troublemakers down the road.....circumstances change all the time.

That's the biggest take away I can give you that you won't necessarily find in the forums. Your attitude fuels your actions. 

Hope that helps!

@George Rodriguez I add to my list monthly. I am able to pull my records through a backdoor at the County's website, though it is still a time consuming task. I average about 75 leads for the combined 4 counties I work in per month. But here's what I do differently. I season those leads and wait 4 to 6 months before sending the first letter. 

Most folks send a letter the same week letters testamentary are issued, then a second, and maybe a third, then they're done. That's why your administrator was sorting through 25 letters. The probate process can take a very long time to go through. I start mailing about the time everyone else has dropped off, and continue mailing up to 18 months out.

The people who call me have had a chance to turn the corner on grief and pain, and most realize they MUST do something with this house. I add value in several ways including estate sales and tax write offs so they can deal with their loved one's things in a guilt free manner, but I always ask, "why did you call me?" The inevitable answer is "You were the only one still interested". I'm not one of 25 or even one of six.....I'm the last man standing and understand the problems they face.

Give it a shot. You have the data. Try resuming mail to an older list and see if your results are similar. It took me a long time to find the sweet spot.

@Avery Gilmer @Jazmine Bryant;  Low financial stability score lists can be found in any white labeled infobase product. Click2mail and listability have very good ones at a lower cost than many "specialists" here who simply rebrand and sell the same information.

@George Rodriguez
For Clarity, you've sent 1100 pieces over 3 months. Some of your prospects have gotten 1 letter, some have gotten 2 and dome have gotten 3? I'm curious to know if you are being consistent, touching each prospect 4 to 6 weeks apart? 

I guess what I'm saying is I do not understand how a part of your pool has only 1 letters while others have already gone on to letters 2 and 3? Consistency is a key factor in any campaign if you are looking to benefit from a multi touch campaign. It sounds like you are being persistent and consistent, but would definitely suggest cycling through letter 1 to all prospects....4 to 6 weeks later, cycle through letter 2 to all prospects, etc....

And maybe you are doing that....this being probate, you are likely adding to the list each month, starting letter 1, etc. Meaning that only a small number of your leads have gotten to the 3 touch mark. So one more question.....

Are you seasoning your prospects at all, or are you hitting them right after letters testamentary are issued.....at the height of their grief and pain....like almost everyone else does and you are facing stiffest competition? My experience with probate is that it takes time to turn the corner on those feelings and figure out that you really NEED to do something with the house.

Hi @Chiyane Peterson! Welcome to Biggerpockets. There are more conversations about wholesaling on this site than you can possibly imagine. Everything you need to know is right here. I would suggest using the search bar at the top, following up with "Related" content suggestions, and soak in the process.

That said, let me ask, what have your previous sources said about New Jersey that would make it any harder or easier than anywhere else? Make no mistake, the process is simple as pie, but it is not easy in any market. Getting started anywhere is going to take a lot of effort. 

If you'll give me a better idea of what factors you consider to make it easier or harder, I can better answer your question.

David, your post takes me way back to the "Influence" system BP used to have back in it's wild wild west. (I've been here long enough to remember when @Jay Hinrichs got here 30,000 posts ago and no one knew who he was or if he was for real :-). Things tend to be cyclical and this system is likely not going to be perfect either, but will hopefully serve its purpose.

Here's what our fearless leader said about it:

Joshua Dorkin from Denver, CO

posted almost 7 years ago

A little over 3 years ago, we initiated a system on the site called 'influence'. This Influence System was designed to reward those users who engage and give back to BiggerPockets.

At first, the system was lauded almost universally by our members, but at a certain point in time it started to become a point of contention. Eventually we changed the system to one that we believed to be more fair and even, but unfortunately, in evaluating the system and your reaction to it, we realized that perhaps the system was doing more harm than good.

Many of our users felt that 'influence' wasn't an accurate measure of their actual influence on the site, and sadly, some of our power users were turned off and cut their participation here. -- (emphasis mine - JP)

While I'll argue that the system always did what it was designed to do -- measure those people who at any point in time were making the most impact on the site -- I'm also willing to accept that the system was never perfect by any means.

Your post gave me one of those full circle moments.

The best thing you can say is "I have a contract to buy this house at a really great price that leaves tons of room for you to make a profit. Would you like to see it?"

That assumes that

1. You actually have a contract on a house 
2. Your numbers are accurate
3. Your buyer can actually close

If any of the above is untrue, you certainly won't get very far....

My elevator pitch begins with "I help Investors buy at wholesale prices" and ends with "so where are you looking to buy and what are you looking for?" If you are in front of the right person, that will get you started every time.

Hey @Ashley Marie Lucas,

Can you tell me what that means to you...."looking for good homes"..? The best ones are the ones your buyers are looking for, and the worst are the ones no one wants (and for the most part, the ONLY one NO ONE wants is the one that is overpriced).

I promise that's not meant to be snarky....the tip is to find out what buyers want. One of the best ways to do that is to look up where investors have been buying near to you. You can do this with certain data providers without spending a dime.

As to the resale value, if you are wholesaling, then use wholesale math on your potential offers. Here's a good starting point:

ARV X 70% - Repair Cost - your profit = MAO

It is never that neat and tidy though. Negotiate the best deal you can and then offer the contract to your buyers at a price that makes sense. If you leave no room for profit, if you are greedy in your fee, if you fudge the numbers to make it work, or if you didn't negotiate a good discount to begin with, it WILL NOT MAKE SENSE and you will have no "DEAL".

If you are able to negotiate a price that leaves enough room for your end buyer to make a profit worthy of the risk they are taking, your fee is the amount between the price negotiated and the amount the buyer is willing to pay. So your "resale value" is entirely dependent on your contract price relative to the conservative estimate of profit from your buyers.

Knowing what the buyers want, their level of comfort with a rehab, the amount of risk they are willing to take and their end goals are all very important matters and my second tip to you is find those things out.

Hope that helps!