All Forum Posts by: Mat Lewczenko

How to pay if you are strictly a wholesaler -

Referrals for leads that can't be wholesaled; i.e. no spread or seller underwater. I'll take those all day long. It's not hard to run comps. But it will get old fast if there is no promise of future business.

Just send over the leads that you can't do anything with to the same realtor, hopefully they can convert them to listings or short-sales.

Best of luck to you.
Oh, and don't tell them that you will list with them if you never plan on holding a property, just be upfront with them on your strategy. If the agent is savy enough they will want to help you.

Tony,

Welcome to BP. Yo will be surprised to see how many KC investors are here. If you ever have any questions at all don't hesitate to contact me.

I don't think you need to scratch, "being under the radar". Some investors I know are like the Masons. If you ask them about it they will tell you all about it, but they don't go around telling everyone just because.

I think you can have that balance, not needing to tell everyone, but if someone asks, you should be able to say easily what it is that you do. Leave it at that, and if they happen to be someone that can help you, or is in the industry, well then you just made a new contact.

Just keep doing what you are doing.

I would tend to agree withPaul and Kyle here.
More than 60% of buyers in that price range, at least in my market, are FHA buyers, maybe even closer to 80%.
Would your home, prior to any renovations pass FHA requiremnts?

If your numbers work, then lets get a little dirty and make a pretty home for this neighborhood. Keep us updated!

would get duplicates on water and power bills though. Non payment of those seems to be a big issue with a lot of my sec8 tenants.

Jason, what do you mean by "duplicates"?

This was a great thread, informative and entertaining. Lots of great point made. The conclusion that I came away with is that you need to know what you want to do, now, and in the future with your business to be able to get the help you need.

I love how a thread sincerely asking about what area of study would best benefit a RE investor turns into a kegger.

But again, this is a social business, so learn everywhere you can :)

Those who walk away have the power, ultimately.

If they are unreasonable with price, thank them, offer them some tips on how to sell on thier own, walk away and then....follow up - systematically.

I call all my FSBO's on Monday mornings, ask them "how their showings went?"
"oh you didn't have any? hmm, why is that?"
They usually just say - "well you know, we are in the worst market ever!"
"hmm, I completely understand, I have a house similar to yours I just listed and we had 3 showing this week.Best of luck to you!"

Then I call everyweek and check in - until they list with someone else or tell me to never ever call them again.
Usually, they get tired of trying to do it themselves and ask you to list it. At this point you can get them to see that the market really is what it is.

Best of luck.

You have already done it.
You paid Zero.
You found bigger pockets! Welcome!

You have hundreds of thousands of dollars of experience and insight in the now 300,000 forum posts.

Patrick, what area of RE are you interested in? Keep reading, ask questions and you will have more than enough information to make smart decisions in your investing future.

All the best.

There are some things that are never forgotten. That skill, for one, is great at closings :D