All Forum Posts by: JD Monroe

Congratulations on taking the first step! 

I'm a real estate investing coach (with TONS of experience myself) that can you help you every step of the way. Send me a DM and we can set up a time to chat!

I responded to your message. hit me up if you have any questions!

Hey @Tim Miller I have some thoughts, the first thing you should do is a true assessment of your skills, abilities and goals. Then match it with the Brokerage the fits those needs. lets connect and discuss 

I love that you are taking action!! The one bit of advice I would offer is Make sure you have your processes documented. Starting with the VA's and eventually the whole business.

Quote from @Sebastian Valdez:

Quote from @Lydia R.:

Quote from @Sebastian Valdez:

So I found this good off market fixer upper with potential but cant seem to find the owner through skip tracing. How do you guys find the owner other than skip tracing if skip tracing option doesn't work? 

 Google the owners name, check the county records to see if their name comes up associated with some other case (lawsuit, delinq prop taxes. civil suits etc) check to see if they are deceased. Familytreenow will give you relatives names and locations. Speak to the neighbors, see if someone knew that person. 

 I will check on that thank you!

Once you find out some likely relatives, Skip trace them and market to them like normal. Then search social media, Facebook dm, etc.

There are a ton of ways to get started, what action(s) have you taken up to this point?

I am not sure if your deal is lost or not, but you can ask the seller for an extension on the EMD. We continue to market the property until we have a signed contract and the EMD is placed.

Quote from @Tyler Lay:

Hey Everyone!

I am curious as to how you guys let a seller know you are a wholesaler without causing friction with them. I believe you should be honest with everyone and not try to hide anything, but how do approach this with a seller and not scare them off at the same time?

The reason we started wholesaling was to "Cherry Pick Deals" for our company. So our conversation starts at a price where we are comfortable closing if needed.

"Hey Mr Seller does it even make sense for us to continue the conversation if we are are around $60k?"

"No, we cant go that low."

"Ok... well then, whats a price that would be worth a conversation for you?"

"We really need to be at $75k"

"I just don't know if I can make that price work. For me to be at that price, I will need to bring on a partner, or someone else to work the deal with me. You know if we can agree on that price, I am still not sure if I can do it, if you can give me a week to try to bring on a partner, i 'll reach out to my network and see if it makes sense to them. at the end of the week, I will either tell you yes we are good to go or no. At that point we can revisit price or cancel the contract and walk away as friends, no pressure either way."

I sent a DM

I wouldn't just send the contract out to anyone who asked for it. With that said, your contract is what helps protect you from loosing the deal.

If the other person is entering in to a JV agreement with you, they should know what the are trying to Dispo. This is also how the other person verifies you actually hold interest in the property.

We have JV'd on the buyer side and seller side many times. You should not be JVing with anyone you don't trust, get a signed JV agreement to cover both of you, but trust is what the key factor should be.

If a Buyer asks to see our contract, We send a redacted version and give the full version after EMD is placed and is hard.