All Forum Posts by: Marvin McTaw

I agree you will likely make more money if you fix and flip however wholesaling isn't really about making the most money on the transaction. Its about the velocity of the money. Our typical wholesaling transactions are usually less than 30 days from signing to closing. Most fix and flips are appreciably longer. The funds we make can more quickly be reinvested into more marketing generating more leads and more deals...at least theoretically anyway LOL

@Anthony Voss we've actually been cold calling people and have had success with that but direct mail still works too. The leads generated from the marketing methods are also vastly different. I'd encourage you to leverage your network to try and find deals and consider online marketing as well. 

@Jorge Reveron it's great you're getting started. I would encourage you to take the next steps and just do it. Take yourself seriously (but not too seriously!) and others will take you seriously, regardless of your age. I'd encourage you to (re-)read Real Estate Wholesaling: The Ultimate Guide and just follow the steps and get started in it, learn from your mistakes and just iterate. 

Hello @Aaron Almario and welcome to BP (although I think it's a few months late). If you're looking for a great wholesaler in the LA area you should talk to @Walter Roby jr . He's in the area and is working to build a massive wholesaling business there. Cheers! 

@Michael Morelli I would encourage you to read Real Estate Wholesaling: The Ultimate Guide if you're just looking to get started. 

@Eric Jones what are you looking to do with the contract because that would determine what versions you'd need? 

@Craig Noyes you basically want to limit your ListSource list down to the qualities and characteristics that will make a deal happen. For example, if you know your buyers want houses and not multi-family, narrow your list down to that. If you know you have to buy houses at 50% of ARV then you should probably make sure they have enough equity in their homes to be able to sell them to you at the right price. Hope it helps!

@Drew Byrd how are you planning to contact them on LinkedIn e.g. direct message, groups, etc.? 

@Bryan Chuchta it's now an REO or "Real Estate Owned" property by the bank like you pointed out. It really depends on the lender. Some have special portals on their website and others will actually just list them on the MLS. I'd encourage you to either look through the website to see what the instructions are there or contact their asset manager who might be able to help you out depending on the size of the institution, it is either going to be easy or hard to find. Probably not much in between.

@Peter Pratti we have a Rebo Gateway subscription. We've found it's good for pre-foreclosures and there are also some other specialty lists. If you're looking at it, I would encourage you to see what lists they have available in your market.