All Forum Posts by: Barry M.

Andrew Christie I'm a wholesaler and I like to be upfront about what I do. If a seller is uneasy with what you do then they aren't motivated enough for you. Relay the message that you are an investor that collaborates with partners and uses private investment funding for your deals. Another thing is to try to get the price as low as possible. Formulate your maximum allowable offer, giving yourself a fee of at least $5000, and start the bid at a lower point from your MAO.

Marcus Haywood Listsource and MelissaData could help. If you look for homeowners that bought houses in the past 10 years or greater, these could be your motivated sellers. If you look for homeowners that have bought in the past 6 months or less, they are your motivated buyers.

@Josh Justiniano

I'm not going to completely kick the idea of going to college to the curb, but to me college is for herd followers. Don't get me wrong, there have been some great people that have come from college and knew exactly what they wanted to do from birth. I changed majors like eight times and I was always uninterested in what was being taught or it wasn't different enough for me. I must say that two of the most important qualities that you will learn and retain from college is discipline and the urge to want to know and learn more. If you can master these on your own, you can forgo college and choose a path away from the herd. By the way, most successful entrepreneurs only have a high school education or went to college but never finished. I was one of the unfortunate ones to find out I didn't need college after I paid $50,000 and got my receipt(degree). lol

Ned Carey You just made my day with that story. LOL. That lady forgot to do her due diligence.

From my understanding, you can setup an LLC and designate to have it taxed as an S-Corp to benefit from the tax advantages S-Corps receives. Either no double taxing when it comes to profits and income and/or no self employment taxes. I think we need an expert here because I would like to know more too. Lol. I'm a wholesaler and I am waiting until I've built enough capital to benefit from this type of entity structuring.

This is awesome. Congrats man. I'm a newbie that's kinda in the same situation. What niche did you capitalize on?

I'm a newbie and I'm for the so called "lowball" bids. You never know how low someone is willing to go unless you suggest low. And I've been told that if I'm not ashamed of how much I've offered then I've offered to much. And if the seller immediately accepts the offer... You've offered too much. Lol.

@Jeffrey Mark

Hey man. I've been hearing around the forums that there is another place or list to get inherited properties. It's called the US Lead List inheritance list, or something like that. There was another forum entitled "Inheritance List" where @Gary Parker kinda talks about this. I think there is a fee though.

@Paul Timmins

Thanks for that tip. I'm going to call the agent today and see what she says. She gave me the Truth in Sale Report which showed a lot of things that needed fixing. The report kind of frightened me a little, which is why I wanted to gauge low with my bid.

@James Wise

While I do appreciate the advice of anyone who has accomplished what I want and I do agree that it would be in my best interest to have a knowledge of repair costs, I actually believe it would be a waste of time and energy to become an "expert" at evaluating repairs. Most wholesalers get a bad reputation because they've tried to become an expert in this area. They forecast, and they benchmark, and they project all the repairs that they think are repairs, yet they forget that the number one certainty is uncertainty. This also creates another paralysis by analysis situation. I want to create profitable opportunities for everyone and create enough of an umbrella so that my end buyer is cover if these unprojected problems do arise. I feel it necessary for me and any other wholesaler to focus on and become experts at the art of negotiation and the law of large numbers. Then I can tune my abilities for evaluating repairs when I'm doing a walk through with my end buyer.