All Forum Posts by: Joe Kalis

@Scott Lunn - here's my take...and me being someone who probably wouldn't even know everything I would need to do if I had a motivated seller ready to roll. 

If you do some active marketing and find more properties than you can handle, you can find someone in these forums in your area that you can partner with. Whether you don't have enough money, expertise, or time....that's basically what wholesaling is, anyways. If you get good enough to find multiple properties, I guarantee you there's people here that would be glad to split the deal with you and show you how the process works, or put up the funds! 

Bottom line, NEVER, in any business, be afraid of not being able to handle too much business. That's the best problem you could ever have! :-) 

Welcome, Alesha! This is an awesome community and I'm sure you'll become a great asset! 

Working on any deals at the moment? 

Very interesting! Never knew that about Google...I'll have to give it a try! thanks for the tip! 

Here's some good articles from BP contributors about "driving for dollars": 

- http://www.biggerpockets.com/renewsblog/2013/05/03...
- http://www.biggerpockets.com/renewsblog/2013/05/10...
- http://beta.biggerpockets.com/articles/2986-how-to...

Have you read up on the posts about "Driving For Dollars" to find motivated sellers, and/or marketing to the same? I'm not deeply involved in the REI scene yet, but I assume that due to the popularity of REI these days, the good deals are already going to be snatched up by the time it hits MLS.

What have you done to find properties besides looking at MLS listings?

@Tom Scott - take a look at http://www.benetrends.com/401k-ira-business-funding/the-rainmaker - I have no idea if it's a "ROBS" plan that the others mention, but I've been recently made aware of this and it looks pretty clever.

I'd be interested to know if this is a ROBS plan everyone is speaking of!

There was a BP podcast with a lady (can't remember her name) that I believe was a wholesaling expert, and she mentioned that there were SIGNIFICANTLY increasing returns as she sent more rounds of letters. A general rule of thumb in sales/marketing, regardless of the industry, is that people don't respond until the 6/7th time you approach them.

I think the big lesson in that podcast was that most people aren't successful with their advertising because they quit too soon.

Obviously, it's tough to keep swallowing expenses, but I think you owe it to yourself to keep at it...the "frequency" is key, like @Dev Horn also said!

Not sure of all of the ins/outs of it, but I just established a "Series LLC", which is popular in real estate investing (my business isn't even REI, yet), because you set up a "parent" and then underneath that, you can set up numerous other companies/brands in a "series". Each of the "series" are they're own separate entity, siloed off so they can be sold separately, as well as sued separately (hopefully not) to protect the assets of all the others.

Think an arrangement like this would help? I do know it's only available in some states, though. http://en.wikipedia.org/wiki/Series_LLC

@Darren Sager

Thank you all for saying hello! I appreciate the tips, and look forward to contributing to and learning from this network!

Hey all! I've been listening to the podcast for quite some time, but never got over here to sign up! Not an active REI, but have always wanted to get in the game. I've accidentally rented a house twice, and just sold my first for what unintentionally turned into a profitable flip (long story!).

Have always been intrigued by flips and rentals, and looking for people to network with in the Chicago suburbs. I'm in the NW part of Chicago (Wheeling)...anyone else around here? Looking forward to meeting some local investors.