All Forum Posts by: JPaul Mills

Your a wholesaler, which some don't think so but I do, your a real estate investor. You don't have to explain your situation to the sellers. And if you put it under contract and it's not moving them as long as you have your out clauses in there and you can't sell it then no harm no foul. You'll never get a deal sold unless you try. If you are thinking that you will have a deal to give to your buyers then go for it. Just make sure that the numbers work. 

here is a great formula to use on list source to find absentee owners to market to but of course you need to fill in with your zip code for the targeted area

http://www.flip2freedom.net/archive/flip2freedom/my-highest-ROI-mailing-list-CRITERIA-201.html?u=5

1) send them some yellow letters or if your ok with cold calling like I am then look them up on spokeo and get their number. Call them and ask them if they are wanting to sell it fast and without closing costs or paying realto commissions. 

2) pull you own comps off of the property appraisers website or pull comps from totalviewrralestate.com or use Redfin 

3) if you are wholesaling this deal then why would you need to get your own financing. That what having a buyers list will do. They buy your deals from you hence the term "wholesaler" 

I always emphasize on the fact that they won't pay any realtor commissions, closing costs, or any other fees. And that's always been a huge thing for a seller cuz that could be almost 10% of the purchase price so therefore I tell them that's one of the reasons the price is what it is. Also I tell them that any one who is involved in this business wants to make 30% ROI(return on investment) on their money. Then tell them would you go to work and expect to not get paid for it?

Well Andrew I'm a wholesaler and if I had properties in your area you be the first one is call because I never leave a lead alone until they tell me to goto you know where, or the sell me their house. I have sold cars for many years and that is one of the main reasons your customers buy other places. LACK OF FOLLOW UP.

Michael. All I have to say is WOW! I have been on the fence about when I'm going to step out in faith and focus on my REI Business full time. I sell cars and have made some pretty decent money at it but this year has dropped in sales tremendously which has caused me to seek other avenues of income to feed my tribe. Hahaha. Last week a coworker of mine who has been at the dealership for 20 yrs decided it was time to move on and the words he said that gave me conformation were "JPaul, I'm just stepping out in faith." Another coworker of mine has been in construction for many years and he decided that it's time for him to get back to doing what he loves. So now he and I have been brainstorming about doing rehabs. I started wholesaling July 1 and have in these short months made almost 1/3 my yearly income. Some say to wait till you have a years worth of income saved and then move on but for me I'm STEPPING OUT IN FAITH on Nov 1. Best wishes to you my friend

Well it all depends on what your talking about. The typical gorilla marketing tactics are always a great method and some work better for me that are different for others. I have been killing it with my bandit signs and really haven't had much luck on my letters yet but when it comes to letters you have to hit the same campaign every month for at least 8mo to a year. I have only sent my first set out and will repeat that letter each month. Also the driving for dollars is a good one. I like using my "I BUY HOUSES" business cards and stick them in car doors and I bought 5000 from vista prints. Good hunting. 

Hello all.  I am a new investor that has started of by wholesaling on July 1 and have been very blessed in this business from the get go.  I have closed 4 deals in the last 2 months but now have a property under contract that is a great opportunity for a rehab.  It's in an area that all the buyers I have networked with have told me that Anyang in this area they want first dibs.  So that to me says "good opportunity." 

Can anyone in FL give me some insight on lenders, whether hard money or private, that would be willing to lend me the house purchase price plus the rehab costs? I know that private are more the word of mouth/ meet at the REIA groups, but being a new investor I just don't know who would say "yes I'll lend you X amount of cash."

That's why I'm thinking that the HML would be the best bet for my first go around although the more costly route. I have read on many of the lenders sites that the require 10% cash down and that I don't have. The numbers work super well on this house and I know for a fact by the CMA Around the home that this will sell and sell quickly.

Please any help would be appreciated 

Google

also a good agent can send you leads to properties that haven't been listed yet on the MLS and also they usually have a list of cash investors as well so sometimes you can flip your properties to them for a flat fee