All Forum Posts by: Jim Pellerin

@Tay Lovett

Off-market real estate deals can offer several perks to investors, making them highly sought after. However, many investors may be questioning how to find off-market real estate due to its desirable nature.

There are a number of ways to identify off market real estate deals, all of which should come as no surprise to investors. I recommend pursuing more than one strategy at a time, to ensure the best results. For those interested in getting started, here are some of the best ways to identify off market real estate for sale:

1. Direct Mail
2. Online Resources
3. Networking
4. Real Estate Agents
5. Builders & Contractors
6. Wholesalers
7. Public Record
8. Word Of Mouth
9. Real Estate Auctions
10. Driving For Dollars

Read this article for detailed information https://www.fortunebuilders.co...

Good Luck!

Thank you for your input! I read that no investor should count on appreciation, especially short-term. I cannot buy 2 Mio. with 500k down payment in South Florida right now, i would not be able to cover monthly payments with such a high interest rate. But was thinking rather 1Mio. But yes, maybe a use of a calculator to make a decision makes sense. 

Hello all, I found this great deal and going in 50/50 with a trusted friend. 425k offer with an ARV of 600k based on sold comps within 3 months. The challenge on this property is an unpermitted room in the garage and kitchen/dining room renovations.

How did you structure your partnerships and how did you set up a legal partnership agreement? Any information on this is much appreciated. Thank you.

Hey everyone

I'm curios to know, when analyzing a property, how do you determine if it's better as a flip or as a rental.

Thank you

Let me propose this to you.

Everyone here... you seriously simply do not get it.  It is NOT about "Off-Market" leads. It is about motivated seller leads. Off-market is not the key here.. it is MOTIVATED sellers.

CAN you get a deal with DMM, cold calling etc. etc? Sure you can. Do those systems "work"?? ABSOLUTELY NOT. It is retarded.

Every 100 mailers you send, you will get 99 NO's and hopefully 1 YES. The standard is NO, the NORM is NO, you can EXPECT a NO. The oddity is "yes", the exception is "yes". Are you all seriously STILL advocating to people that want to be succesful to rely on a lead generation system that has a 1% success rate? How is this not plain and simply retarded!

Are you all not wondering why and how I get so many FREE leads? Are you not interested in how I make reliable multiple 6-figures/month?

Look:

We are already at $115K in the first 10 days of august:

Notice the "previous Period": This means that last month within the first 10 days, we also did over $100K. Meaning.. RELIABLE!

Why is it that NO ONE shows proof? No one backs up those completely absurd claims that all these other systems work?

The way I do it, gives me FREE leads, SUPER motivated, without lifting a single finger. What other system does this?! Name one!

ONLY SEO.

You can do this yourself. for FREE. I didn't pay anyone, I figured it out myself. You can too. If I did it YOU can do it.

Now... let these stubborn people keep doing their cold calling and DMM and what ever they tell you to do. If YOU want to make it RELIABLY, you really need to be able to call BS when you see it. Remember one thing. Not because 300 and 4 clowns agree with something does it mean that what they all agree on is right. 

The sheer majority of people here vouch for DMM cold calling, texting etc. etc, but ask yourself this.. how many people here eon BP actually can proof success? How many of them actually are successful?

Let me show you this:

Here are SOME of my leads the last 10 days. What you do not see here are the calls I get from people that reach out to me by phone.

Now, let me show you this:

There are random leads throughout the months.

Now, all these leads are free, off-market, organic , HIGHLY motivated and I don't lift a finger nor do I spend a cent for these leads.

Now let me show you this. Here are some of the people that followed my advise.

All free all organic. Its not just me., I am not just all talk. I don't only show you MY results, I am showing you the results of the people that followed my advise.

Now I have been telling everyone this for years and most of you simple base your decisions on ignorance, instead of DATA!

All these answers above, are exactly what all the gurus regurgitate over and over and over again. But seriously if those methods truly were reaching people that are motivated with off-market  properties.. why the HELL does it take you 5000 mailers calls or texts blasts to FINALLY find ONE "yes"? My question is this.. why are you all STILL giving people such stupid horrible advise?! WHY??

All of you that answered.. tell me this. Woudl you rather have free motivated leads coming your ay on the daily, or would you rather cold call and spend money on DMM being yeld at by the people you reach out to?

There does not exist ONE INSTRANCE any of you will pick DMM coldcalling or text messaging over my resuklts. NONE.

If that is the case, why are you telling people to do it a way YOU rather not do it yourself if you had the choice?

Why don't any of you come with proof, data, evidence to back up your advise and claims? Show me evidence where cold calling is free, and gives you a 100% motivated seller rate? Well SEO gives me 100% motivated sellers. Every single person that contacts me are contacting me because they want to sell their house. 

No one contacts me to tell me: "Hey I did a google search to sell my house, I found your website and I am just calling you to let you know I don't want to sell my house to you". 

100% motivated.

So, 

again, you all have a choice. Keep on fighting struggling, taking the "easy" way, or... use your friggin head, intelligence and see data for what it is. Choice is yours.

It is my honest genuine opinion, that cold calling, bandit signs, DMM, text messaging etc. etc is a waste of time money and energy.. and I have shown proof to back up this opinion. How about you?

Don't use the 70% rule.

I wish people would stop saying this.

The 70% rule doesn't account for the risk factor involved per property. 

A house with crumbling foundation and a similar house with the same ARV or cost of repairs are NOT THE SAME in the eyes of the backend buyer of the house after the flip. People simply won't easily buy a house with previous hystory of crumbling foundation even if it is fixed... or "claimed" to be fixed.

The 70% rule also doesn't account for the projected time it takes to flip a house.

And no... your predetermined "holding cost" incorporated in your 70% rule is not it.

The 70% rule is a death trap and is a sure way to derail your business.

Also, if we are both interested in the same property, and you give a 70% offer, you will ALWAYS be beat by me that will ACTUALLY give the highest possible offer I can make. 

70% rule focuses on being "safe" and will have the effect of not getting many deals.

The right method focuses on property determined risk analysis to leverage "being safe" with the amount of allowable profit (for that safety margin). 

Good afternoon, I hope everyones day is going well. I have a quick question, can you wholesale a property that is owned by an LLC?

I am so close to being ready to get my first wholesale deal.  The only problem is I am struggling a lot to figure out if it is a good deal or not.  I am looking at on-market properties. I feel like every time I see a potential house I have the repair price too high, but I could be off on my repair cost.  Any tips for me? Thanks!