All Forum Posts by: Devin Morgan

LOL I needed that laugh @Josh C.

They're probably going to tell you how they found you. You can then ask for their address and get them talking about the property. Something along the lines of "is this Diane?" in which you reply yes. Then they'll probably say something along the lines of "oh I seen a sign that says you buy houses" and which you reply I do and go into your script.... It's easy

So pretty much Josh is accurate :)

Welcome to BP!

Like others have stated I'm sure starting out especially if you don't do a huge mailing your phone won't be ringing off the hook. I try to answer the phone. Always. As soon as I see it's from my google voice number I immediately start making my way to my laptop. Right now I think hiring a remote assistant is your last concern. When people say wholesaling is a funnel it truly is. Trust me you'll be dumping quite a bit of money into marketing. See how things go first then consider upgrading. You'll be putting a bunch in, and it trickles down.

Welcome! @Christina Coleman

I'm a newbie as well but I've talked to a few sellers. I always ask them upfront what it is they want for the house. Sometimes they'll say well what can you offer me? I say what do you THINK it's worth and what would you be willing to take for it. I find usually what they think it's worth is off or their comps are slightly elevated. I haven't closed a deal yet but I do find sellers think their house and sometimes neighborhood is worth more than what it is.

But I will say this numbers don't lie. If he's not willing to come down and its your MAO don't try to make it fit. If it doesn't work it doesn't work. He's a car salesman. I read somewhere around here we don't get sold houses, we buy them.

You may want to read this thread. It's stickied at the top.

https://www.biggerpockets.com/forums/93/topics/541...

The main ways people find leads are through some type of list (listsource seems to be the most popular), probate, through their county tax assessor, and driving for dollars. Some people use bandit signs as well and put ads up on sites like Craigslist.

I personally pulled a list from listsource, visited the tax assessor, and driving for dollars. I also have a ad on Craigslist as I'm currently on the final stages to get my first marketing campaign sent out.

(If you go the Craigslist route please don't create dummy ads to get a buyers list. It's dishonest and somewhat frowned upon.)

Why go through a middle man? Why not just sell it to an investor yourself?

Impressive!

Congrats!

 That is absolutely correct. This is the simplest version of how to come up with your purchase price. Thanks!

The only thing I can say is do not deviate from the numbers. If it doesn't fit, don't try to make it. Numbers do not, and will not lie. And always try to be as honest as possible especially with your buyer/ investor. They're supposed to do their own due diligence anyway but you build better relationships if you're transparent instead of trying to hide things or underestimate the repair cost or overestimate the ARV.

I've done tons of research and I have procrastinated long enough. I start my direct marketing campaign next week. Do your research. But don't do so much research you forget to take action.