All Forum Posts by: Eric H.

@Niko Molina I'm not sure what type of information you are referring to. For most stuff (seller leads and buyer leads) I use Word and Excel. When driving for dollars I use pen and pad. For accounting I use quickbooks. I should really have everything in a 'cloud' type system so I can access it from anywhere. Right now my data is all on my laptop. I carry it with me most places. But it sucks when I need a document that I can't get a hold of. It happens rarely but I have to start 'acting' like a big business although I am still a one man operation.

@Zana Blue Report him to the real estate commission and say he is brokering deals without a license. Contact a local real estate attorney to see what your recourse may be.

Keep us posted please.

Thanks!

E. Harris

@Nick N. It's been 5 deals in about 11 months. About 20,000 pieces mailed this year, that's 2,000/month. I have one more mailing to send out in December. Closed on my 1st rental today. Excited and scared all at the same time!!!

@Jeff Fairchild I have no absolute answer for the reason the second campaign flopped. There were many different variables at play when comparing the two lists. I think I got lucky on the first mailing. I closed two deals from that mailing off of the first touch. I haven't closed any deals from that second campaign and December's mailing will make touch #4. The only thing I can think it may have been was the mailpiece compared to the audience. This particular audience (condo owners) doesn't respond to postcards. I've only gotten quality responses when I sent that audience zip letters.

Hope this helps!

Sincerely,

E. Harris

 Congrats!! Love your quote. Looks as if you're getting ahead. The power of taking action is undeniable!

@Gloria Gutierrez Yeah I am working with a seller that's 'unrealistic' right now too. Here's what BP members told me.....

https://www.biggerpockets.com/forums/21/topics/248...

@Carl Richardson Here is over 6 hours of podcasts that will answer all of your questions.

Show 12

Show 42

Show 21

Show 31

Show 37

Show 81

If you still need help after listening to those feel free to shoot me a message.

Sincerely,

E. Harris

@Gloria Gutierrez The key to wholesaling is you must find someone with motivation and equity. Equity can be easily determined but their need to sell the house (motivation) is not always apparent. But you can usually rule out wholesaling if the seller is asking for retail price. How do I know it's retail? I usually am conducting research (pulling comps) as I talk to the seller on the phone or I will have this done beforehand if it is a call back. I may say something like "Mr. Seller unfortunately at this time I am looking for distressed properties that I can add value to. There is no way I can pay anywhere near what you are asking. As I mentioned before I am a licensed agent and would be glad to represent you in the sale of your house. Is that something you may be interested in?" @Russell Brazil is right about checking with your brokerage. They may frown upon wholesaling for the mere fact of refusing to be creative, fear of the real estate commission, and/or not understanding the law completely. Wholesaling as an agent is not illegal. It's all about disclosure. In Maryland we have a form that clearly states my role in the transaction (buyer, tenant, seller, landlord, or representing someone). Make sure seller is aware that you are an agent. Check laws regarding marketing of property that you don't own. These are the two areas you can get in trouble with wholesaling as an agent.

I wish you the best!

Sincerely,

E. Harris

@Josselyne Lugo As stated here, to be technical, you can not 'assign' the financing contract and you can not originate the loan. But you can structure the whole deal (with a purchase and sales contract and owner financing addendum), find a title company/closing attorney that can do the aforementioned, and finally connect with an end buyer for a finder's fee (instead of an assignment fee).

Hope this helps!

Sincerely,

E. Harris

@Sarah McMillen Welcome to BP! Plenty of investor friendly agents active on this site that work the DMV area. Here are a few

@Russell Brazil

@Anil Samuel

@Nancy Roth

@Christina R.

@Tyrus Shivers

Thank you all for chiming in!!! So much experience on this thread.....I respect all of your viewpoints. Will keep you posted on how it works out.