All Forum Posts by: Jeff Warner

You never know if those guys are for real or if they're scamming people for $. I've offered food before to people like that and they did not want the food, only $. Since he took the food he may be for real but who knows.

I did watch a "bum" selling drugs on the corner right in front of me the other day. I called the police right away.

These are some strange times we're living in right now.

Jeff

This is great advice. Wholesaling (or any other form of investing) is a JOB, just one without a boss and office politics. Personally I like the challenge but I know that a lot of the guru's try and make it seem like it's easy money and anyone can do it in their spare time. That could not be further from the truth.

Besides leaving your job, what are your goals? Be realistic with your goals and learn as much as you can. Based on your goals, you may find that wholesaling is not for you. I would recommend doing a few deals start to finish before you put in your 2 weeks notice.

Jeff

Working full time and running a business can be done but it's not easy. How are you marketing your Wholesale business? IMO, you need to get the phone ringing and have motivated sellers calling you regularly. Deals will come if you can get the MOTIVATED sellers calling you. REI is a numbers game and just like any other business you need to make that phone ring, especially if you don't have time to "drive for dollars" and find houses that other people ignore.

I'm sure other people on this forum have solved that same problem and could give you tips on time management. I would buy lists and direct mail, you can start with out of state Absentee Owners or Absentee Owners that own homes at half the median sales price for your area, etc.

Another thing, and with working full time I'm sure you value your days off but you could use that time off to go out and find deals, talk with home owners and try and get a deal. The main thing I'm curious about is how much time are you currently putting into your own business and what your doing to get that phone ringing?

Lots of people on here willing to help so ask questions and stay focused, it will happen.

BTW, I think one of the most evil things is spending all or most of your free time working a job you hate.

Jeff

How could sales history be wrong? I might be missing something here so feel free to correct me. I would never use any website to see what they consider a property to be valued at, most of the sites you mentioned use the county tax assessed value (which is not FMV). If you are getting recent sales, I don't see how they could be wrong, they certainly are incomplete as they won't be showing you ALL the sales in the time period selected but not wrong.

Are you saying that for instance if a home sold for $100k that zillow and the others will report the sale at a different price? Not all counties are the same but all the ones I work in I can verify the ACTUAL sale price and zillow, cyber homes, etc. are all accurate when it comes to the ACTUAL sale price.

If your talking about what those sites "value" a property at then I'm with you, they're values are a joke and comps never (or very rarely) support them.

Jeff

I talked with Ticor Title locally and they said they can provide comps also. My guess is that those will be more accurate then a Realtor since they aren't using MLS sales only. They also said it's free so it doesn't hurt (or cost) to ask.

Jeff

My wife is thinking about getting licensed but you have to work as an "agent" for 2 or 3 years in OR before you can become a broker. Not really my thing but she still may do it...at least then we'll have access to the MLS.

Jeff

Good deal, one vote for Will.

Jeff

I would spend $25-100 for an appraiser but out here most charge $300. Are you not doing a full appraisal to get that price? Let me know, I don't have a problem spending the money to get a solid number on a home in an unfamiliar area.

Jeff

****Jeff Z - While it won't work for Grant's Pass, the Oregonian has a list of real estate sold in the past 18 months on their website for the Portland area. Incredibly helpful, although you only get the sale price, sale date, and date recorded. Still, I can quickly take that info down to the research room and find the parties involved.

Jeff****

Some counties in OR have sales online through the tax assessor, my county does not have it online yet but hopefully will. The counties that do are very detailed and you can search based on sale date, sq. footage, age of the home, type of home, etc. You can also put in map numbers (found on their site) so you can make sure all comps are near the subject property.

This feature is not available in the county for the home I'm dealing with so I've got to go other routes.

Jeff

That's a good idea and very fair.

Jeff