All Forum Posts by: Max Yuan

I helped one of my buddies build out a custom data monitoring system.

He focuses on pre-foreclosure and probate leads out in FL. The workflow he wanted gets refreshed every 15 minutes. He's now crushing it since it helps to be the first one to reach out.

I am looking to work with others across the country to replicate our success. I'll focus on people with existing wholesaling teams, but happy to talk to anyone starting out too.

Comment below if you're interested in working together!

Figure out what actually works, start by driving around, then start looking at county level data like probate notices, liens, etc. Use something like Propstream to sanity check the property info. At some point, automate those workflow using something like Goliathdata. Don't buy anything upfront, know what generates revenue for you first.

Do you have a list of buyers? There are some free tools to help you share it.

Quote from @Maj Mahmood:

@Max Yuan Hi Max how did you get Public notices and county data in bulk as most only allow you to search data individually. And was the data same as what was on Propstream.

You have a narrow down the search parameters.

Propstream is already outdated - All the existing data sources operate on the same three data providers. First American, CoreLogic and BlackKnight. I just go straight to the source to find the info.

It think that is a really generalized statement. I run a company called GoliathData and we specialize in finding people looking to sell and occasionally act like a wholesaler. There are definitely times where we forward fantastic opportunities to listing agents that doesn't make sense for us. Or sometime we acquire properties and have the agents market the pocket listings for us. It is simply about creating value for folks you work with.

Management company only really become useful when you reach economy of scale. With a small portfolio, it will eat away at all your cashflow. Manage it yourself until you cannot anymore.

I was an engineer based out of SF for a while, recently moved out to TN to build out our real estate data/holding company GoliathData. Happy to provide some perspective. 

I'm trying to figure out where all the code violations, tax delinquencies, etc are all posted.

What government websites do you all use? https://davidsonportal.com/ is kind of terrible.

Quote from @Peter Anderson:

How do you get your leads?

Public lists big dog. Tax delinquencies, Eviction notices, and just driving for dollars.

Quote from @Gustavo Munoz Castro:

Quote from @Max Yuan:

I am a software guy that got into wholesaling, so it is not like I've been in the industry for decades, but definitely in your shoes last year.

1. Definitely start in your area. If you can't close deals face to face, you probably won't be able to close deals over the phone. It also helps you build the intuition on how much you can offer. The 70% rule is more like a heuristic, depending on the property you should go lower or higher on the offer. You don't want to miss out on a deal that could make you $30k just because you need to offer 80% ARV.

2 PropStream, PropRadar are great ways to get started. They essentially give you all properties in an area, and you can skip trace and call the homeowners. The best way to think of it would be virtual door knocking. Slim chances of success, but cheap and easy to get started. After that, I would encourage you to go to your county recorders office / court to request data yourself. This is probably the most up to date information you can get, you can get the data cleaned, formatted and skiptraced for pretty cheap using some new comers like GoliathData. List is only as good as the caller, so make sure you have your script ready to go.

3. Becoming good friends with buyers' agents and local investors. In my experience, they have the fastest turnaround time vs folks out of driving distance from the property. If you are listing it online, aren't you just in a sense just "listing it on market"? Your advantage is your connection to the right investors with cash to purchase the property. Another reason why if you cannot operate locally, you probably won't be able to succeed wholesaling remote.

 How good has Goliath Data been for you? I run a Real Estate Call Center so I'm always getting asked to recommend skip tracing tools like Lead Sherpa or Share Group.

Full transparency, I actually run Goliath Data. We start out building just an internal tool for our own wholesaling business, but we opened it up at some point to actually look for partnerships.

The main difference is just we directly ping the credit union for phone numbers, so the data is never stale. Instead of just uploading cleaned CSVs, you are also able to upload PDFs of delinquencies or violations. The point is simply to save time so you can focus on calling.

Our main business is just to set listing appointments for real estate operators for free and take take a percentage of referrals after. The way you figure out who is most active in a market is by just providing the best skip tracing service, and after a while our pitch is: do you want to save all that money on phone numbers and callers and let just just provide the deals you should show up at.