All Forum Posts by: Lamar Cannon

If you are a real estate investor in Austin, Texas, we probably know each other. If not, we should meet. We work hard to bring off market wholesale deals to our buyers. The hard work is paying off, as we were featured on BP podcast 31.

I am currently looking for more reliable buyers to add to my network and you are looking for property...So lets connect!

As well as normal wholesale deals, we wholesale sub2 - subject to - owner finance deals as well.

Let's connect, now!

Lamar

if I was in your situation (I have been), I would save the extra money you are putting into VA and PATLive and spend it on marketing. Outsourcing is good once your biz is too big to handle yourself. It seems like you have a great plan on how to outsource once you get to that point.

Currently, if you send out 1000 letters one week, you get barraged with calls and miss a bunch & lose deals. Then you will be twiddling your thumbs waiting until enough time passes so you can send another mailing to that list. Sound familiar?

Why not send 250 a week for 4 weeks.? That way you are constantly mailing and have a manageable stream of callers coming in each week.

I'd let the calls all go to a simple personal google voice voicemail & let them leave a message. Most people who are calling to sell will leave a message. The ones who don't you can call back or text later. This will allow you to return calls on your breaks or after work.

This will then allow you to save money and get deals done. Once you do a couple deals you can reevaluate your systems.

Does that make sense?

Great post @Joel Owens

I had the same question at one point. In my search, I've tried all different systems. Google drive is a good temporary solution.

If you are planning to scale your business you might as well start with a tool that you will use the whole way. I use Zoho.com now. It is similar to ACT. It will take a bit to get used to and set it up, but once you do, you will be glad you did.

You can easily search records and you will have a real database management system. That you can access anywhere. It also has an app you can download for your phone. It is free as well!. There is so much good I can say about Zoho & it's starting to sound like I work for them. Haha.

Wow looks great @Jon Klaus !

Another reason is wholesalers are usually comfortable with a handful of buyers. There is nothing like developing that trust with your buyers and knowing they will by everything you have. Once most have this the buyers added later are word of mouth. I don't know too many people that are increasing their competition by running to their fellow investors telling who they get properties from.

Even though this is the case I would still add @J Scott and @Will Barnard to the list if I was in either market.

I think the reason for the lack of wholesalers that are GREAT is the fact that wholesaling is usually a bridge. Most great wholesalers will realize that they have mastered an important part of investing - finding the deal. They then transition into a more profitable strategy , such as flips. A great wholesaler will pull the correct resources together to make it happen, and as the wholesaler evolves fewer and fewer deals be passed on to buyers.

Seller figured they could get more. I would still go to home, talk to seller & look at the home. Who knows , it might be in better condition than we thought. If not, which is likely the case, I would tell seller: " I'm not sure if we are going to be able to make this work. I like your price, but based on the condition of this, this, and this , the most I can pay is (original price) like we discussed earlier. What caused the sudden price hike sir/ma'am?"

Seller will realize you are indifferent and willing to walk over the increase. If seller is motivated, this will work.

perfect answer @J Scott !

@Justin Foster the best way to create WIN-WIN deals and make the max amount of money while doing it is to know exactly what your buyers would pay for that specific property in its current condition. It will take a little time and work to begin to learn this but once you do you will see your business skyrocket. (More moolah for marketing!). Some buyers use the formulas above others have their own.

Once you know this, use that as the baseline when negotiating with seller. If you know your buyers will pay 130k for that type of property, negotiate as far under that as you can. With seller and BAM the difference is your assignment fee. Buyer gets a deal, you make money, and seller gets paid

Does that make sense?