All Forum Posts by: Zach Schaar

I took a class on finding foreclosures and the instructor predicted 2013/14 to be huge as far as foreclosures because during the crash in 2008 people were set on these 5 yr mortgages that helped them out that are about to switch rates.

I have experience and acquaintances elsewhere that are saying the complete opposite.

Welcome to the world of real estate investing!

Wholesaling is where most people start with limited experience, cash, and/or credit. It's a perfect place for any inexperienced person to start. There are some quick formulas people use to calculate repair costs, but the best way is to evaluate it yourself (if you are handy), or become friends with a reputable contractor that can help you. After awhile you get a feel for example what a roof replacement costs, or plumbing, etc. Your strategic alliances will do the work for you, they want to make money too!

If you have cash, credit, and time, rehabbing is also a fun place to start. I don't know what your market looks like but right now people are doing alot of renting. There aren't too many rehabbers making a killing right now. The money is in renting for cash flows. But none the less, if you find the right deal, a rehab could potentially work.

In conclusion they play off of each other. To find a good property to rehab you have to think like a wholesaler to find the deal (and not pay a wholesaler to find it for you).

To be a wholesaler you have to have the experience and knowledge of repair costs, etc..as such a rehabber would have.

Good luck!

http://www.biggerpockets.com/files/category/marketing-docs

Look through that list and they have downloadable examples. They are under "Absentee Postcard" Front & Back.

They work!

I just explained that while I am interested in the property, the assignment clause allows me to assign it to any one of my specific partners (or buyers). So point blank if one of your partners can't close the deal, you have other partners that you can simply assign the contract to.

If they say "wait a minute, you said you are buying my property", just tell them that all of the funding for the sale comes from your investment partners. Because that's the truth. You assign the contract to the investor who has the funds to close the deal.

Just be careful! It's easy to get taken advantage of when you're new. To be honest, there are so many free sources on how to excel in this industry, why would you pay someone? I mean really, I am making my living, and (living well I may add), and never spent more than $50 bucks on education materials. I either found free sources or hooked up with people who were willing to share information!

I personally wouldn't pay to learn in this industry! But I'm sure a ton of people disagree with me, which is fine. Just stating what's worked best for me!

Banditsigns.com is good. i think you may have to buy in bulk, which generally for most people is something they do anyway.

If you just need a few, I've gotten good results from vista print. However, when I use bandits for wholesale purposes, I've found hand writing them gets me a much higher response rate.

Cheers!

@Matt Beans

I wrote a huge response for you and wasn't sure if it would make 100% sense. If I could summarize it this way, be honest and 100% transparent. I would suggest practicing your talk before actually doing it. What parts in specific do you need help explaining? Knowing that would probably be the best way to be direct and to the point with answering your question.

I know one thing I had a hard time with is explaining the assignment clause. But being repetitive and consistent, believe it or not you find a way! These contracts are written on a 3rd grade level. So don't overthink it! :)

Thanks @Darrin Carey , and @Pat L. Appreciate it.

I'm only using 1 county. I just got my own account so I would say a deal a week, give or take. I really only do it on the side. But overall, I would say it's atleast worth a try out. I like it.

About 75% of the time yes, the sellers are highly motivated whether it be divorce, need cash, etc. But I would have to admit about 25% of the leads are garbage or "retail sellers" that aren't all that motivated. From the deals I've made from Z-Buyer I would say the cost is worth it. I typically set about 5 appointments per week and usually 1 will end in a deal. 4 deals a month well pays the $180/mo membership.