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All Forum Posts by: Jay Johnson

Jay Johnson has started 4 posts and replied 155 times.

Post: New member

Jay JohnsonPosted
  • Pelham, NC
  • Posts 160
  • Votes 54

@Torey Carden 

Welcome!

I'm from a small town in NC near Danville. I'm just starting out, too, but, if there's anything I can help you with, I will or, either, try to point you in the right direction to find what you need.

Post: Hello my name is Elishia

Jay JohnsonPosted
  • Pelham, NC
  • Posts 160
  • Votes 54

Welcome!

Glad to see you here! You will learn a lot and, meet some great people on this site. I see you are already a real estate veteran. Being on here can, definitely, help you grow your business

I stay on the phone, too, long, probably. A new potential buyer called me the other night and we laughed and talked for about an hour, or more. That's happened a few times with me and potential buyers. We, usually, hit it off well. Now, I need to find a smokin' deal they would buy!

I've had a couple of long, enjoyable, conversations with sellers, too. I'm just starting out,so, I hope these long conversations  lead to doing great business, too.

Excuse me, I meant " Marc ". Sorry, to mess up the spelling of your name in my post.

Like Mark said listsource is one. Also, Steven is right about the podcasts on finding sellers. Paulette is right about driving for dollars. After driving for dollars and you get the addresses of the vacant homes you see, then, go to to your assessors' site and use the address to find the owner.  You could go to youtube and look up wholesaler Sean Terry. I saw one of his videos about different paid services to target different lists like you named out.

I would have tagged you but, It won't work on my phone for some reason. Not when I'm in the country town I live, anyway. 

Congratulations! 

Having the right people on your team can, truly, make a big difference! 

Way to make some money and, get a great education at the same time! I hear a lot of people lose money on their first couple of deals. You didn't. You're already ahead of the game! 

Originally posted by @Nick C.:

I totally understand the spirit of this post I just couldn't disagree more. First, if you're counting on a wholesaler for anything other than the address you're asking for trouble. 

Overall what you're saying is buy from the big boy wholesale companies. The problem is they have large marketing budgets and lots of overhead so they push the prices up and need to make a much larger spread than a one person operation. 

Although new wholesalers may make mistakes on pricing, sometimes that mistake is pricing the property too low, so it goes both ways. If a wholesaler presents a terrific deal that you can make money on, it doesn't matter if their comps are from a drunk neighbor and they want to meet behind a dumpster. Buy the deal.

I love the last paragraph, Nick! That's right, if the deal is right I'll sign the contract in a dark, dead-end, alley at 3am in a war zone while the police are on lunch break!

Originally posted by @Ashley Guzman:

I would say that these tough questions should go both ways. We  as wholesalers not only market for sellers, figure out the numbers, negotiate price and set up the contract but we also deal with our end buyers and cultivate relationships. I personally like to know that the person I am assigning a contract to, or doing a double close with has the funds to follow through. I like to know what area they prefer and see some of the rehab work they have been invlolved with. I have heard stories of buyers not performing as well.  If an end buyer cannot follow through then I, as the wholesaler, will be left holding that contract and will be liable for it. I can assure you, I do a lot more than provide an address. I think the term for that would be a bird dog. Now, I have not done one single wholesale deal. I have, however, talked in length with several buyers about what they are looking for, what their particular margins and needs are and how  I can better work with them. I have a couple of agents who run comps for me, and I took the course to get my real estate license because I am serious--just because I have not yet gotten a deal does not mean I wont get many deals in the future. Everyone of us has been new. Everyone has fudged deals and made mistakes .Even the best and most highly skilled wholesalers had to start somewehere--many of whom were never first involved in flipping houses. I think advising buyers to steer clear of new wholesalers is doing everyone a disservice. How am I to gain experience if I already need experience to gain it? I agree asking questions is critical. Knowing your business is critical and doing your due diligence is as well. But shunning a person for having a home office or not already having 100 deals under their belt both stifens growth, and keeps people who could be game changers out of the game all together.  I don't think that is what this business, or BP is all about.

I agree 100% with you, Ashley. I was going to say about 90% of what you said. Although, I understand what, Jeff, is saying. We do need to have solid numbers when we present a deal but, any good buyer is going to do their own due diligence. 

Post: OMG my offer was accepted!!!!

Jay JohnsonPosted
  • Pelham, NC
  • Posts 160
  • Votes 54

Congratulations! That profit margin looks real nice!