All Forum Posts by: Jay Johnson
Jay Johnson has started 4 posts and replied 155 times.
Post: Landlording ain't always fun... (photos of the FIRE included)
- Pelham, NC
- Posts 160
- Votes 54
Sorry to see this, Brandon. I know you got your "stuff together" so you'll be alright. As for your tenant, if it's an accident, then it's an accident, but if it was intentional, may it come back on them 100x over!
Post: My First Assinment of Contract
- Pelham, NC
- Posts 160
- Votes 54
Congratulations! Keep building!
Post: My first wholesale deal
- Pelham, NC
- Posts 160
- Votes 54
Originally posted by @Account Closed:
I am currently in the throws of my first deal. I got a contract on it Saturday and am now marketing it. Having some good dialogue and definitely forging some relationships. Success is imminent!
Congratulations! Hope you move it soon!
Post: Too many adults
- Pelham, NC
- Posts 160
- Votes 54
Originally posted by @Account Closed:
Originally posted by @Rodney Williams:
Originally posted by @Account Closed:
Originally posted by @Rodney Williams:
Originally posted by @Rob Beland:
@Karen Dayley "We added this so people with 3+ kids wouldn't try and rent our 2 bedroom apartments" is a direct violation of the fair housing act of 1968. You cant discrimate based on family status. You shouldn't be a landlord and I hope your tenants turn you in to the Dept of Housing & Urban Development
Man Rob you had to learn somewhere, let's at least try to help her before you send her to prison.
Oh you'll find out about overcrowding in prison. Long gone are the two to a cell with Bubba days.
I used to manage a dorm like this in a Max facility.
Manage? I'd love to hear the discussions, "Guys, I'd like to share some concerns I have."
That's hilarious!
I listen to, and like Clark Howard.
Post: New Member from South Carolina
- Pelham, NC
- Posts 160
- Votes 54
Welcome!
You can learn a lot on this site from a lot of smart people. Stay networking!
Much success to you!
Post: Make money by tracking deals, pipeline, and follow up
- Pelham, NC
- Posts 160
- Votes 54
You're proof of what I read and hear a lot about. I watch and listen to Ms. Sharon Vornholt's videos and podcasts. She does a lot of direct mail, and says she never gives up on a property, unless, the person tells her to take them off her list or the property is sold. She said she got a deal from someone she had been mailing to for a few years, and it was because she was the last one still mailing when the seller was ready to sell. I've heard stories like that from quite a few investors. You're just more proof of never giving up on a property. If it hasn't sold, you're still in the game!
Post: Make money by tracking deals, pipeline, and follow up
- Pelham, NC
- Posts 160
- Votes 54
Congratulations!
Post: Wholesaling mentor holding me back?
- Pelham, NC
- Posts 160
- Votes 54
Is it the one on YouTube with the short-hair from (Philly) with that name, also? If it is, I remember her saying she never had a mentor. She said she learned by watching others do it. If you need a mentor, cool. If you don't, cool. If you see proof she knows what she's doing, maybe, you stick with her. She might know something about those leads as to why they were not good, but if she is mentoring you, she should have given you the reasons why. If you never see her doing any deals at all and she claims she's active and all you see is her coaching people, then, if you still want a coach, I would try to find one who was actively doing deals who you could, basically, be their assistant and see how everything works. You could see how they market, how they screen the lead, how they know what lead to pursue, how they talk to sellers, how they negotiate with sellers and buyers, how they built their list of real buyers, how they have a relationship with title companies/closing attorneys, see how they build relationships with realtors, contractors and other professionals, see how they do the paperwork, how to handle problems when they come up, how to know what leads that are a no for now, but they know that one they should follow up with a month, or so, later and everything else that goes with the business. People, actively, doing deals might not want to train the competition, so, be ready for that.
Much success to you!
Post: Contracting a Wholesale
- Pelham, NC
- Posts 160
- Votes 54
Originally posted by @Curt Davis:
It basically is that easy. Once you sign contract with seller you then assign to your end buyer. Collect fee at closing.
I find that guys wholesaling like you get nervous bc what happens if you cant sell but you told the seller you are the buyer. Rather then have to pretend I am the buyer you might approach it like this:
Seller, I work with a large network of cash buyers located both locally and also from around the country. I would like the opportunity to present it to them for the next 30 days and see if I cant bring a cash buyer. If at the end of the 30 days I have not been able to secure a cash buyer, we can either part ways as friends or we can discuss lowering the price and I can put it back out to my list again
This approach takes the pressure away of making them think your the buyer and also takes out any weasel clauses like " subject to 3rd party or partner inspection " in the event it doesnt sell.
hope this was helpful.
Great information! That's almost, exactly, what I say to sellers. Haven't done my first deal, yet, but that's what I tell them.