All Forum Posts by: Joseph Hernandez

@Peter Mckernan. Thank you sir. As a newbie wholesaler, should I open escrow before or after I find a buyer. The transaction is in a mortgage state, New York.

If it's an attorney state, who writes up the AB Purchase and Sale agreement? who pays the attorney, seller of wholesaler? Thank you in advance.

Hello. With the exception of New York, who pays closing costs in a wholesale transaction? 

Hello. Does New York state require title companies or attorneys for wholesaling?

@LydiaR. I would love her number. I have a deal now and I never wholesaled in N.Y. Thanks Lydia!

@ Andrew Postell. I see. The tennent has a 3 yr lease, that's why the seller can't sell the property vacant. Thanks.

@Andrew Postell. Why?

Hi. Would you purchase a SFR, that's a fixer and allow the tennent to occupy the property for 3 years? If so, what would be your terms?

@Jerryll Noorden. Thanks for the advice. I really do appreciate it. I think I will advertise on You Tube and Tik Tok. Can I use organic marketing instead of paid? Just curious, you use the word "data" a lot. Wouldn't a better word be "facts"? 

@ Jerryll Noorden. The more I read, the more convinced I am that Google/SEO is the best long-term strategy for getting quality, consistent leads. I read a lot of comments in FB wholesaling groups. The vast majority of wholesalers struggle big time getting a deal. 

By far, telemarketing and texting are the two most used and abused mediums. Here are two huge problems that you never mentioned: One, both telemarketing and texting are illegal if you don't obtain express written permission from every homeowner that you contact. 

From reading 1,000's of FB posts, I know about 99%-100% of wholesalers don't get express permission to solicit them. It's virtually impossible. Moreover, the fines are tens of thousands of dollars for EVERY call or message. You don't need a calculator to do the math. It'll put any small or mid size wholesaler out of business. 

I tried telemarketing and got a horrible response rate. Everyone looks at their caller ID. If they don't recognize the number, they don't answer (or cuss you out). Recently, the mobile phone carriers requires individuals and companies to get registered or all texts will be blocked. They also implemented very strict rules. It's extremely hard to bypass their filters. Mass texting is now a thing of the past.

Purchasing leads is a poor option. The same lead is distributed to every other wholesaler. With FB ads, you spend half a day weeding out tire kickers. Old school methods such as bandit signs are dead and illegal in many areas. I just performed a Google search and there are plenty of wholesalers, which means it's a very viable medium.