All Forum Posts by: Gregory Carter

I say "My business partner and I", my business partner being my end buyer.  

I am doing wholesaling by the way.

I drive for dollars on a regular basis.  I usually drive for about 3 hours each time I go out.  I find on average 5 houses in that time that actually look like a distressed home.  Which brings my first question, does the house have to be vacant in order for it to be a good prospect for mailing or just look distressed, period?  I want to send out large amounts of mail but how do I build a good mailing list?  I usually go on my county assessor page and go to a map view and click on every house on a street looking for the ones that are not owner occupied and mail them regardless of the condition of the house (because from the assessor page you usually cant tell the condition of the house).  I don't get many responses like this and most of the calls I do receive from this are just to inform me that they are not interested in a sale at this time.  Any advice on how to have a better idea on who to mail and even on who to cold call would be very much appreciated!  I understand that I'm going to get a lot of "no" going forward from prospective sellers, but I would like to know that I'm at least spending my time mailing the best possible prospects.  I thank you very much in advance for any answers or help!  

I am fairly new to wholesaling. I received a call from a lady the other day from a nearby city who had a house for sale. I went and looked at the house and it was very very nice condition. The ARV on the property was around 155k and she wanted 115k for the property (her bottom number). I offered 95k because I was at 104k minus repairs. I had explained to the lady on the phone and prior to our meet that my service wasn't for every one and every property and I explained to her how I do the numbers on my offer, so I really don't know why she even met with me. Long story short, im trying to wholesale this house, Am I wrong for not putting her in a contract for 115k? Im going off the 70% rule here.

Are there any books you recommend? 

Thanks Chaz!  I will make what I have work, and definitely start looking for a real estate agent to work with!

 I have a seller that is located in an area that is hard for me to run comps the way that I was taught, because the city is so small there is nothing there to compare to.  How can I get an accurate comp for a small town?