All Forum Posts by: Corey Beckwith

Hi Sharad, I currently use listsource.com as one of my mailing list. If you go that route try to negotiate the price per lead. I found out after I went under contract with them that I can actually do that. I'm paying 12 cents per lead. I heard some say they're getting as low as 9 cents. Another list I'm starting to get some success off of is findmotivatedsellersnow.com. This is a website that caters to vacant properties. I just got a contract from there and another strong lead yesterday. Currently I'm printing out my own yellow letters. I made one Master copy and just mass produce it through my printer. You can also try usleadlist.com. I get a great response rate from that one. That's an inheritance list that comes out quarterly. You can look them up and ask to speak with lance or terry. I did get a contract from a motivated seller with that list as well. From my understanding, they can do your letters for you as well for an additional cost. Hope this helps. All the best Corey

Hi Jennifer, That's wonderful that you have such a big heart in wanting to help them. However the numbers don't really leave you any room for error. Where I'm from (New Jersey) investors like myself typically like to buy 65-70% of arv (after repair value). Minus repairs. So if the house is only worth 225k, you wouldn't want to be in that property for more than 157,500 which would also include the repairs. So if the house needs 10k in repairs for example, you would want to offer 147,500k. That's if you're gonna renovate and sell. Offer even lower if you're gonna wholesale the property to another Invester. Keep in mind if you renovate and sell it, you will have to higher a realtor (if you're not already one) and you will have closing cost. On top of the cost if your money, if you're not using your own. I hope this helped. All the best Corey

Hi, Currently I have the Home Depot app and lowes app. This helps me with my rehabs. I purchase my materials through there. I put my contractors name as the person who will be picking it up. Then when he picks it up, they email me a copy of the receipt. I also use the Houzz app. This gives me great ideas for renovating my homes. Of course zillow.com. I don't use it to get a concrete value of a home, but it does give me an idea and it also gives me the sold comps in the area. I'm also using docusign app to sign all of my documents. Google maps is a good one. This allows you to view the exterior of the homes you are interested in, and the neighborhood as well. Hope this can help. Corey

Hey Mark, I understand how that can feel. I too had to start all over and I didn't have cash to do it. Wholesaling is a great way to get into the business or back on your feet. There's many resources out there to learn from in this arena. What I did to get back in when my cash was low, was getting back into the rehabbing side of the biz. I found a property that was on the mls. I then found a hard money lender who would finance the deal. He gave 90% of acquisition an 100% of the rehab cost. (Pricey though). Then I posted an add looking for a down payment partner. I offered them 50% of the profits. The numbers worked for everyone and the end result was great. I did this a few more times afterwards sometimes offering a 70/30 split my favor or a 60/40 split my favor, and it worked out for everyone. Hope this was some kind of help to you. All the best Corey

Hi, I typically only put down $1,000 for earnest money for deals I get off of the mls. I'm from New Jersey and it may be different as a standard where you're from. However, maybe you should speak with your agent and let them know that you can't put that much money down because it's preventing you from getting as many deals as you'd like. In my experience I also found that some realtors treat us investors the same as end buyers who typically do put down more earnest money, maybe because that's what they're use to doing with the end buyers. When I come across that I usually just change realtors who understands how I operate. Or if you really like the one you're working with, just let them know how you plan to operate on your future deals and see what they say. All the best Corey