All Forum Posts by: Mateusz Prawdzik

@Jeff Stephens I really appreciate the feed back, now how would you word the letter differently so that in a single letter a single $0.58 I can target multiple sources of this real estate pie? I have the capital to invest into marketing but I also need to get  the best bang for my buck. I need it to be short where people will read it quickly while at the same time attention grabbing where it causes people to think. So what would you change about this letter or add to it or how would target multiple avenues of these fish in a single letter. I have dealt will types of sellers and the ones that make the most moves and are the best to deal with are sophisticated desperate sellers. 

@Ben C. Sure you can but you still need a license to pull permits. Unless you are doing the work yourself with your 2 hands you need to submit a license with the permits. Listen... you can try and check off the box that says homeowner and that you're doing the work, and if they don't ask or say anything, you have to make sure that for rough and final inspection you have a good explanation for everything that was done in the house. I don't think they will give you a hard time but just try it out and if it works, it works. If it doesn't, you'll need to borrow someones license.

@Ben C. The town will want you to show a license with the permits when you file them. If you don't check the homeowner box, then they will think it's a contractor, even if you were to sub all the work and you own the house you need a license # and a actual copy to put in the folder. 

@Harry Metzinger Yes that is correct, BUT that mentality only works for buy and holds. You are saying that you will get 2-3 more houses like this one and then your return will be "X". This mentality only works with things you hold, such as stock or rentals. If and When you are flipping you want to make sure that it is PER DEAL ROI, not annualized. I mean that is how it should be done and how I do it, if you have used this process before and it works for you, power to you, keep going.

@Harry Metzinger Sounds like to me you're just listing the property. I mean if you find a cash buyer for this property, it might a good deal for someone that is small and doesn't care how much he makes. But for a bigger guy where he can pick and choose, this deal is not good. After everything is paid off... you basically make... a 6% ROI which is absolutely nothing for a 230k investment. If you are talking about picking this up for yourself, well then good luck, it will be a quick way to make 10-15k in 1-3 months. But wholesaling it makes no sense and the other option is to list it and make double commission when the buyer sells the house after fixing it.

@Brian Pulaski That is a good idea, Driving for Dollars is one of the best ways to get started for sure. I would start making your own list for sure, lots of people had success with that. Are you planning to hand write every letter, because I have done that and it is a B. I do about 200 in 3 hours where as I use to be able to only do 30 in like 3 hours if i was to stamp and hand write everything myself. I don't know what kind of market you have up there, but down here it's all about numbers and volume. I did this experiment and found out it doesn't matter about how personal you make the letters, it's about hitting the most people at a time and getting the volume out because then the Law of Averages takes place and you get leads quicker and more effectively.  

@Brian Pulaski Hey, look thru my profile, I just posted in one of forums about the letters that I have been doing. I have been allocating 10% of my funds into marketing and advertising (as you know about the instagram thing) and have been doing about 200 a week started this week. It should be the post from last night. Also like we spoke thru email, come down to NJ brotha, we can tackle something together. I am very curious because I spend abut 2 hours a day just on letters and marketing. Maybe we can do something together as far as mailing goes. Let me know what you think about my post from last night.

@Denice Blair Hey Denise, welcome to BP, the land where everyone tries to help everyone. That is why I am here. Let me warn you, even though I am not from Florida, I have heard people talking about it being illegal to wholesale in Florida. I don't know how true that is but that's just what I heard. 

Even though you are new to the business, make sure that you are doing everything with your head straight on your shoulders because you don't want to be accountable for a property when you can't close on it and then everyone treats you poorly and you diminish your rep because of a hiccup and not knowing what you were doing. With this being said, out of state wholesaling for a beginner sounds very tough especially because you can't see the house personally. Pictures are great but you can hide a lot of things with pictures. FSBO leads are great but as soon as they are posted online or something of that nature, you better expect someone else already saw it, so now you have competition.

I like the ambition of trying to get started because that is the hardest thing to do, but ACTION is key, and everyone knows how I like the word ACTION. I would maybe try to stay local and get a feel for what and how things are done before going that far out. NJ is closer and a great place to start. 

Finding cash buyers is not too hard as long as you market yourself and network with people at meetups and thru BP. I just recently started to market my brand and create something for myself after gaining some experience and credibility and now I am trying to build a crazy following.( IG : PrawdzikProperties if you're interested in following I would appreciate it). I can tell you, you're on the right track because you are doing what 90% of people can't do and that's start, but I would stick to something more local so you don'y make the mistake of over offering for a property and then being stuck with it.

@Lucas Cole @Bob Okenwa @Derrick E.What i did just like most people was start flipping to get the construction aspect of the business and then move onto flipping. With that being said , I live in one of the most appreciating markets there are in North NJ. I mean just this past 3 months, a house that I was suppose to sell for 210k jumped to 250k... so you see where flipping benefits me. 

Now in your case, you need to go by market and what you want to do. Slow and long term income or all at once chunks so you can reinvest. Also, passive or active investing? These are all the questions and more that you have to ask your self because only you will know the answer to them, not anyone else.

@Keith S. As much as Co wholesaling is a thing, I would try my best to stay away from it. If you are the source with the property, try not to market to wholesalers. If you are trying to market other peoples stuff, please don't do that either, it diminishes your reputation. I would suggest just finding your own deals and marketing ONLY to investors. 

With that being said, to answer your question, a wholesaler usually doesn't need to be at the closing if he has an attorney. Just go after closing and pick up the check. If you don't have an attorney, have the buyer leave the check with his attorney. If you WANT to be at the closing, I suggest only 1-2 people max and say that you are working with the guy that is actually buying the property so you don't get any weird looks. But all in all, I wouldn't show up if I don't have to.