All Forum Posts by: Jacob Cuellar

Still working on my first deal currently have 4/5 leads. I'm still learning but cold calling and networking (think creative as you can be). I'm learning networking is everything. 

All my leads were generated from cold calling all day. Not the only way of course just sharing my experience. 

@Jacob Cuellar I would start by thinking about what form of marketing you can consistently do for 5-6 months. Most all marketing approaches work but the #1 most important thing is that you need to be consistent. I generally think about this from the perspective of time vs. money. If you have more time than money, do cold calling, door knocking, etc. If you have more money than time, o direct mail, PPC, etc.

Whatever you choose, be consistent. 

From there, you can source prospects lists from data providers and through manual sources. Here are some lists you can pull from data providers:

- Absentee, Equity, Related party, Trust, Preforeclosure, Vacants, Deceased

Here are some manual lists you can pull from your county:

- Tax liens, Fire houses, Evictions

I would recommend you pull some of the above lists, identify which properties are on multiple lists and start hitting those properties.

You can not. Auction contract carry blocks on assignments.

You are not allowed to assign if you are buying at auction

I can only speak to our area, but if this is a county auction you're talking about the cash for the house is due the next day. So you wouldn't have time to assign it. 

In addition, most bank owned properties have no assignment clauses in them and often deed restrictions from reselling for a period of time. 

Don't put a pre-foreclosure under contract UNLESS you're willing and able to close on it. If you intend to assign the contract and you're tying up a seller and possibly forcing them into foreclosure in the event you can't assign said contract, that's unethical and potentially illegal if your contract is not drafted properly (proper disclosures regarding your intent). This is how new investors ruin their reputations before they even have one. 

It's not something you need but some wholesalers do one to provide to buyers when promoting the deal.