All Forum Posts by: George Maka

@Rod Coleman Your assignment fee can be whatever you want. If you can get a $50k assignment fee, then go for that. The house is worth whatever someone is willing to pay for it. 

Thanks,

George

@Mathew Deines Welcome to the community. Search around the forums and blogs as there is a wealth of information laying around. Also, check out all the different types of podcast that are available as they will really help excel your learning. Please reach out if you need anything.

Thanks,

George

@Andy Mirza I'm a big fan of NLP and hypnosis. In short, NLP is a way to use language to effectively communicate, whether that is with yourself or with others. My recommendation is to check out books by Richard Bandler, as he is known as the god-father of NLP, and search through Youtube as there are a lot of great channels that teach and demonstrate the effectiveness of NLP.

Thanks,

George

@Vermar White Welcome to the BP community!

First off, what are you trying to do? Real estate investing is a large area with many smaller niches inside. Also, why do you need your own attorney and CPA? Sure, have a real estate attorney look over the contracts that you're going to use, but until you start putting deals together, there's no reason keep paying them. Bigger Pockets is full of resources and there should be enough here to help you put your deals together for free.

Now going back to the actual business, it's all about your leads. This is a numbers game and the quality is in the quantity. You need to keep generating them on a consistent basis and be sure to be focusing on motivated sellers. It may seem like it's not working, but just keep doing it and it will snowball down the line. 

How do you generate them? I've been having luck with yellow letters, but there's also website marketing, facebook, linkedin, paper ads, bandit signs, and just old-school-pick-up-the-phone and call people. And you have to think about the leads you are targeting. I know you said pre-foreclosure, but in my opinion, they may not always be the most motivated. Foreclosure process can take up to a year or more (here in CA at least), so when they're in the pre-forclosure stage, they are still in denial. It's not until they are in the final stages and they know that the have to vacate the house by next month is when they begin to panic. 

My suggestion would be to find one area of focus, keep learning everyday about it, keep targeting leads and keep networking with other investors. If it was that easy, everyone would be doing it. Travel as far as you can see, and when you get there, you'll see a little further.

Best of luck,

George

@Leonard Jefferson There's a lot of information out there and it's very easy to get overwhelmed. With the amount of reading and YouTube you have under your belt, it sounds like you understand the basics of wholesaling and now just looking for a deal.

To find the deal, there is no magic formula. It's a numbers game and the more pipelines you have open, the better your chance is to find a deal. Other than driving-for-dollars, also start a direct mail campaign, bandit signs, a website, online ads, fliers and anything else that you can think of that might get the attention of the buyers.

My suggestion would be to focus on 3-4 different marketing campaigns and stay consistent with that. You may get lucky and find a deal after a week, but reality is that it's going to take some time. So, even when it seems like it's not working, just keep pushing those campaigns out.

Let me know if you have any questions.

George

@Matt Redden have you played around with Mail Chimp? It allows you to create a template and from there you should be able to create the information that you want to include. Also, the first 2000 or so emails are free to send. 

George

Hi @Mario Lowe and welcome!

There's a great, inexpensive book here on Bigger Pockets called The Book for Estimating Rehab Cost. It's a quick read and a good guide to go back and reference to, especially if you are new.

However, in general, look at the condition and age of the roof, the water heater, windows, floors, and walls. 

Thanks,

George

@Matt Redden I would say find another buyer. If it's a deal, then finding another buyer shouldn't be too much trouble. Or just let your buyer know that you are the owner and he can help you by buying the property at your price. If you have it under contract, I can't see why he would need to speak with the seller. 

George

@Account Closed If this isn't too late, while they are giving you a tour of the property, be observant of what you see in the house and ask questions to build report. For example, you see a bunch of model trains throughout the house, start asking what the trains are about, or are you an engineer or tell a story about yourself if you can relate in a way.

Remember, as much as it is about the property, it is also about them. This is a people business, so you should be asking just as many questions about them and their needs as you should about the property.

Good luck.

George

@Channing Hobson I don't have experience in flipping, but for someone to take you on, what can you offer? I find it hard for someone with experience to just respond and say that they would be glad to take you on, if they are not benefiting in some way as well. 

Just a suggestion, it may be better received if you explain what you can bring to the table. Remember, those with experience are busy and need a reason why. If you are completely new, I would say to start with the blogs, and search tool in the upper right and begin reading everything and find those who are active in flipping threads then reach out to them.

Best of luck,

George Makakaufaki