All Forum Posts by: Eric Hettena

Congrats on the baby in the oven and congrats on the new found passion to pursue REI.

Much like Ali Boone I am now hungry and thinking about the tasty food you cook up in your kitchen.

Keep moving forward.

Cheers

Eric Hettena

Will

Welcome to the site and I am really excited for you. I am in a similar situation and looking to pursue REI as a full time career and transition from my current career/day job.

I love to go to Vegas, although for pleasure, next time I am up there we may have to catch up and talk shop.

All the best to you in your pursuit and I will be keeping my eye out for your progress.

Cheers

Eric Hettena

This past January I had new tennants move in and I left a bunch of brand new light bulbs and cleaning products. I figured the light bulbs was just a nice touch, but the cleaning products was mostly me wanting to make sure they have whatever they need to keep my place as clean as possible. They didn't say anything about it, but I hope they are using them.

Just finished and I definitely have a better understanding on wholesaling. Great simplified breakdown on the steps involved in doing wholesale deals.

So marketing is the #1 step in being successful, from direct mail, to having a website to have a lead capture site and possibly even bandit signs, although Sharon doesn't seem to do those these days. Also, of course having a solid list of buyers who can be called upon when a property is put under contract and either do a double close, which seems to be the better option, although costs a little more money, so the end buyer doesn’t know the amount of profit you made wholesaling, or assign the contract.

Sharon’s direct mail advice was really great. It was nice to hear that after the 5th contact that’s when 81% of the deals are made. With anything in life, persistence is key.

This question can be to not just Sharon, but anyone, based on your analysis of your direct marketing campaigns have you noticed any trends in success rates between hand written, yellow paper, postcards as opposed to letters..etc?

It sounds like one of the biggest areas someone new to wholesaling can make mistakes in and be in a losing situation is wrongfully evaluating the ARV of a property they put on contract.

Clearly with time and practice it will be easier to be able to valuate a property and know what the ARV is. This clearly is an area that I need to practice practice practice to get more comfortable with the numbers.

What have others found to be helpful in their comfort in being confidant in their ARV calculation? Also, what have some of you enjoyed and didn't enjoy with your experience with wholesalers?

On my lunch break at my day job listening to the BP Podcast 012 right now and so far it is awesome. Some great advice and stories from a seasoned veteran in Sharon Vornholt. Thank you for taking the time to put this together BP and Sharon.

I'll report in when I am finished with some thoughts, and questions I am sure to have.

Cameron exciting news. Look forward to hearing the progress on the property. Congratulations. Are you going to wholesale this one out? What avenue did you find this property?

Wow, this is some serious information you all provided. Thank you all who participated. I really appreciate all the ideas and strategies behind low end and high end rental properties.

Also, thank you to Geoffrey Murphy for putting this thread together and keeping it moving.

I as well would be interested in such fun.

Danny

Thank you so much for stopping by my introduction post and taking the time to stop by.

Eric

Brandon

Thank you for welcoming me and providing me with some great rescources to make my experience here the best it can be.

Eric