All Forum Posts by: Jeremy T.

@Riley F. 

How long are you waiting between "batches"?  

Are you sending them out in a 'lump sum' or spreading out the delivery over time?

Thanks for updating the post...so many of these fall by the wayside.  The fact that you are already planning a 4th and 5th mailing leads me to believe the ball is going to start rolling downhill soon.  

Keep us posted and good luck.

just listened to your latest podcast @Michael Quarles and was very intrigued by your assertion that owner occupied properties with high equity are basically an untapped market. It would seem that ups the potential leads pretty significantly.

@Keoni V. 

Heh, yeah I have a bit of knowledge about Bethel Park...considering most of my life was spent there :).  BPHS class of '96.  Good/great schools, tons of retail houses in the 100's, low crime, huge lots.  The dining options stink, but where isn't that true in suburbia?  Is your friend a native?

It's a small world man.

@Jay Hinrichs If one does not bob their head in rhythm with "Roll with the Changes" I submit they do not have a soul.

@Keoni V. Welcome to BP.  Let me know if you would like to talk about Pittsburgh neighborhoods.  There's pretty much something for everyone around here.  I'm a native, so I can shed some light on about 95% of the metro area.

@Shaun Reilly Don't all unicorns fly?  Or am I thinking of a Pegasus?

Is "REO Speedwagon" the first thing that pops into anyone else's mind when they read "REO"?

@Richard C. point taken...though your contract law comparison using Aunt June's musty house and narcotics is a bit of a reach, IMO.

I have worked with 4 agents: 1) a woman who persuaded me and my wife to overpay for a house (we were impatient and naive). grade: D- 2) a kind old woman who took a huge hit in commission to help us pay closing costs on the same house when we sold it 4 years later. Grade: C+ (a good human) 3) a woman who was fired for egregiously hideous customer service in all respects. Grade: F- 4) woman who got the job done and whom I would work with again, but not someone I would rely on, especially from an investment perspective. Grade: B-

Though these threads become redundant, I enjoy the back and forth...any time people sit down and bang out a 500+ word replies, there are going to be some gems to uncover. Bravo @Andre Vaughn et al.

@Richard C. 

So this is a matter of semantics?  

To the best of my knowledge (albeit limited) , contact law allows someone to place ________ under contract and also allows one to sell their equitable interest in said contract to another party, yes?  

I agree with you that this is not "wholesaling" in the most fundamental of terms. That said, it is convenient terminology for the sake of discussion because it has worked it's way into the lexicon of REI to be synonymous with the above scenario. It probably leans more toward "brokering", but what about the investor who works repeatedly with a single "wholesaler" (and vice versa) to acquire properties based on the above model? If there is no overt advertising, can this still considered "brokering"?

Until contract law changes, (again, to the best of my knowledge) this practice is perfectly legal, and can be performed with a wide variation in underlying ethics.  Some people choose to use this model to run a reputable business, others (the focus of these repeated threads) choose to be a combination of lazy, ignorant, and greedy.

I think the overwhelming response will be "don't do it", but I certainly think it is possible. 

I think it is imperative to have trustworthy partnership/relationship(s) with "boots on the ground" to perform due diligence and close deals.  For example, I think the marketing, initial lead processing/screening, document processing, logistics, etc can be performed virtually.  In the end, we are still dealing with people in tough spots, so having that human element (and not some dude/woman on a phone), IMO, is very important.

It all depends on the strength of your team.  Some people thrive on marketing, research, and developing systems.  For others, their strength lies in combining empathy with the ability to close.  Regardless, for this to function with any sort of success, what is required is a shared vision built on a foundation of trust.  

Unfortunately, that is probably the most difficult variable to align, and why this is probably much more difficult to accomplish in practice than in theory.

Then again, you do have the ability to vet people over time (coughBPcough)...

This thread is fantastic, oh, and @Aaron Mazzrillo is my hero.

Whew, I was getting worried.  A variant of this thread hasn't popped up for almost a week.

@Ryan Dossey good stuff in the second paragraph.