All Forum Posts by: Eric Goodman

Welcome Ryan, Sorry I haven't been on here in a while. You'll find the guys around Wichita to be a great group of investors and yes after Covid-19 come and join Jason's meet up. Looking forward to connecting.

Ok, so I quit the cube July 31st, and then the kids were getting ready to go back to school in two weeks, so my wife wanted me to wait to get started investing (wholesaling), so I put it off until they went back to school. Then my inlaws came into town so she wanted me to spend some time with them, so I just really got started in wholesaling about 3 weeks ago.

I did some driving for dollars and used the Deal Machine App (which I love) and ended up getting around 75 properties in the Wichita area on the app, and then started doing postcards off the app. Then last week I had a lady contact me from the postcard, and she didn't want to sell her current house but had a couple of others. To make a long story short, she had 3 houses she wanted to sell. Tonight I went over and got them under contract, and I'm taking the EM to title on Monday.

I know I can do facebook, and craigslist, but really what is the best way to market these properties to cash buyers? I've googled and found a few out there, and I knew a few wholesalers/flippers in the WIchita area, but I feel like I need more. Do you guys do a preview of the properties for buyers to come and look at them? If so, how long do you make it? Do you take bids for the assignment at that time? 

This is my first time on this side of the negotiation. Any help would be appreciated.

Thanks,

Eric

Im not sure I understand the question, but if you go to wholesalinginc.com they have a lot of great info.

Do you mean the ARV? One simple way is to go on Zillow and find comps of properties that are the same, 3bed 2 bath, or square footage, and close to the same age and condition. You want 3 or 4 comparable properties, that have recently sold in the same area. That will give you a baseline for your ARV. I think there is a page somewhere here on BP the gives you all this info...I'd search for that and it will give you a lot more info.

Yes, learn. Listen to all of BP podcasts, watch youtube - Flipman, Chris Goff, Wholesaling Inc, Max Maxwell, search for books on Wholesaling. Everything you need is online, you just have to be diligent to learn everything that you can. Best of luck!

You can make an offer, with a contingency clause, with the inspection in a specified number of days. This is one of your ways out if the repairs are too much, or you can renegotiate the contract.

Rome,

Sounds like to you need to JV some of these deals with someone. I would love to but I'm not experienced enough myself. I would recommend reaching out to an REIA and see if you can't hook up with someone there.

Best of luck, and good job getting to the hardest part!

Eric

PS. I forgot to mention, add the Deal Machine app on your phone. It's awesome for researching properties and finding the contact info.

BP podcasts are a great way to start. Find some good books, "The Art of Wholesaling Properties", "If you can't WHolesale after this I've got nothing for you." both can be found on Amazon. Youtube - the flipman, Chris Goff, Wholesaling Inc. Max Maxwell. After you've watched a dozen of these from each person, you should have a pretty good grasp. Then as Tom Krol says, Take MAssive IMperfect Action - in other words, just go to it, and you will make mistakes, but you learn along the way...and YES, I am practicing what I'm preaching!

I just watched this video from Ty, on that very question. Youtube the flipman, with that question.

https://www.youtube.com/watch?v=eAMoQNriiX8&feature=youtu.be&utm_source=Flipman+Store&utm_campaign=bc3d9f529f-AUTOMATION_1PageContract_Flow_17&utm_medium=email&utm_term=0_ea4a3a1e0d-bc3d9f529f-443667097&goal=0_ea4a3a1e0d-bc3d9f529f-443667097&mc_cid=bc3d9f529f&mc_eid=e11032fbbd