All Forum Posts by: John Horner

I used downloaded contractS for my first few wholesales, they were 100% one-side but distressed owners don't seem to care about that.

Honestly it would be in your better interest to consult a Lawyer specializing in real estate then an agent. An agent is just going to use the standard 10 page Division of Real Estate contact, but they will not be able to educate you on anything else.

A lawyer can take your exact needs and draft whatever you need.

Looks awesome, and for only $28k, nice work!

I was laughing until I got to @Gail K. 's post...

So he gets a mortgage and fixes up, then you buy cash and then refi? Then he buys it back from you seller finance? So you are stuck with the mortgage and he goes and finds another "you" to do this again?

Couldn't you do this without him and cut out the middle man?

I just hired my first answering service and it has taken a lot off my plate. I also use a VA for SEO and PPC to my website.

What other services do you use to automate your marketing and lead capturing?!

I am a violator.

My partner and I debate about this very frequently due to our unusual partnership, but anyhow, here is the skinny.

I strongly believe that in the Columbus, OH market that rate will fluctuate from 65% to 75% depending on the location.

The demand in a war zone may be even lower then 65%, and in some of the very desirable areas may be higher then 75%.

My partner and I are local investors in the Columbus Ohio area.

We are looking for an eager up-and-comer who wants to learn about real estate and get paid to meet with clients, take pics, etc.

This would be paid on a per deal basis. Part-time but must be flexible with time.

We do all of our deals in Central Ohio, mostly within Franklin County.

If you are interested, please contact me.

Shoe leather is one way to do it. Bill, I don't think you understand the volume that needs to be done to find the motivated sellers. Even if the waitresses aunt want to sell her house, the odds of her selling it to a wholesaler for 65% of ARV is somewhere between slim and none. Plus after you make the offer and she gets offended you're going to feel weird going back to that restaurant :)

IMHO, talking to people face to face will get you there, but it will take years longer. Websites, direct mail, these are tools we use to create quick volume marketing, so even though only 0.05% are actually motivated sellers, you still have enough volume to support your business!

@Patrick L. , I have to disagree with you.

I don't personally wholesale REO's, but there is a fellow here in Columbus who does exactly that. He typically uses the HUD site to bid on properties, we will get them at maybe $5k-$10k under asking, then wholesale them at $3k above that. His goal is volume and his deals get purchase by cash buyers very often. He has a 3-5 day period before he has to pay the $500 earnest, so he blasts it out to cash buyers and if there is little to no interest he will extinguish the contract.

Patrick is correct that you won't be able to assign, but double closing is always an option.

I'm not saying it's easy, but if you do it right, understand the process and cover yourself, it is certainly possible.

@Lawrence Walker

Learn all you can but you have to take action eventually. I over-educated at first and got the point where I couldn't read another RE book or article, I had to take action.

If you wait until you are sure of something before you take action, you never will:)

The best education is sending out a mailer and talking to sellers first hand!