All Forum Posts by: James Stockton

I'm gonna tell you this as I've been learning it myself. You WILL goof up. That's perfectly fine. Focus on serving the seller and you'll be able to find a deal much easier. Too many wholesalers go in to a call with a sales pitch. If you go in with that mindset, you'll leave empty handed. As for a list of steps, this is state dependent but I'll say this, MOST calls will not be a deal. That's why we send out so much marketing. Seller financing as far as free and clear properties will be very slim. I would say to expand your options. Such as wholesaling the deals out. However, the basics are to find motivation, find equity then make the two into a deal with some negotiations. If you can just get a property under contract with some pictures, I'm sure there will be someone in your area to help you out further. Good luck!

Sly dial is great. I'm not a fan of the ring less voicemail though. I've always associated these with telemarketers. So unless you're sending out to your current database of warm-ish leads, I wouldnt expect great results.

It is all a game of numbers. You will need to know they can budge. In that 200 days has the price been reduced? If so, how much? In today's market, I wouldn't waste time or money before you find motivation. We don't deal in homes, our money is earned on solving problems of motivation. If there isn't motivation, there won't be a deal. I'd talk to the realtor. Ask if there is any room to play on the price. If you're coming with cash, let them know that. It could play a bigger role than you think. If you're willing to pay closing costs, could be the thing that helps. Also, if you're not using a buyers agent, emphasize that the selling agent could get double commission. Hope it works!

Hello Everyone!

I've got a bit of a dilemma here. I've got a seller who wants to sell their property in an area that I've never been to. It's a town called Buffalo, MO. I'm worried that the location would scare off most investors because the schools in the area aren't great 5/10. 

Is there any advice on how I can wholesale a deal that is in less than a desirable area? Would I have to make the numbers outrageously low for someone to take the deal from me or is it just not possible with an area that doesn't have a huge population or large rental base?

Welcome to the Bigger Pockets forum!

Your husband's knowledge of construction will carry you quite a ways in this business. My construction knowledge when I started was about as basic as it gets. Florida is a great state for REI because there is no state income tax and lower property tax than most places. I lived there for 2 years and I'm regretting coming back to the Cold North East.

As far as where to start, I would get connected in your local area. Find your REIA, or contact people on here and talk with them about your market. Do some research on some bare bones type of stuff. I would also recommend doing the first project or two with an experienced partner. Most of us learn better by doing than reading. So this is a great resource almost everyone has at their disposal.

Happy House Hunting!

Hello @Ross S. ! 

I'm going to do a bit more stepping forward on what the rest of the advice has been. I would create your goal list, and work backwards. Once You know what you're shooting to achieve, the rest just becomes practice to get you in the big game. Learn something new every day. Your business will only grow to the extent that you do.

Hello There Justin!

Welcome to the forums. I'd check out the podcasts as well as the books on this website. They are fantastic when you are just starting out. I hope you enjoy your time and learn a ton on bigger pockets.

Hello Andre! 

Welcome to BP, 

I tend to agree with @Brandon L. Here so I'll be no help other than to be the greeting party to the forums. We will tell you exactly how it is and not really much else. I hope you enjoy and learn as much as I have from this site!

I think a class in entrepreneurship taught at a college is as backwards as it gets. You can't learn the hustle it takes from sitting in your classroom. The only lessons will be taught outside of your comfort zone. I would certainly learn about your market, a bit about construction and sales. Whichever classes do that, that's your answer.

Hello there! I would recommend becoming more active in your REIA if you haven't. That's where a lot of wholesalers will be. As for other other ideas, market your services. Connect with local roofers who have been already marketing. Ask them to refer any people who may not able to afford the repair they need done. You can also send direct mail, drive for dollars, and other ways. However if you want the least active route, the first options will be best.