All Forum Posts by: Alex Harris

I'm in Virginia also and agree with Michael Noto that virtual wholesaling is definitely something worth researching. In Richmond, the inventory is low and "gurus" pass thru and convince everybody that wholesaling is such a quick and easy process. Now "wholesalers" are making offers of 90% off the ARV and locking up properties and not closing. There is a learning curve but once you understand the process and the additional steps, you can target other markets that might be more profitable. There are also guys like Chico or Clothier who have experience/knowledge and teach people.

Try a website or utlizing internet marketing. Also if you read back in other recent posts, your question has been asked before. As far as yellow letters, I believe Michael Quarles is somebody worth speaking with or researching.

I know signs have been mentioned a lot but I would also recommend a website targeting your local area. Get organic leads using SEO or do PPC ads instead.  Its cost effective if your already spending money on signs, mailers, etc. I think incorporating them all in your strategy would give the best results.

Hi Jim,

Welcome to wholesaling! Stay consistant and keep making offers each week. Its a numbers game. Think about how many offers you need a week/month to get an accepted offer. Like above, keep the leads coming in and spell our your budget/plan. Take action WHILE your learning instead of trying to learn EVERYTHING and then start. BP and Youtube can answer a lot of questions immediately if your budget is lower starting off IMO.

Wow. Very good information to know if somebody can confirm? I'm moving forward on marketing in Columbia, SC. Thanks!

I'm not far from you in Richmond and I let my broker know that I was wholesaling when I joined. It was great because HE was wholesaling in 2011 and understood everything that I was doing. Good stuff.

Hi guys,

I'm wondering if there are any experienced "rural" wholesalers who are interested in joint venturing some wholesale deals? For a while now I've been getting these rural leads (like most of you) and just haven't done too much with them because honestly my time is better spent in other areas. Also since I virtual wholesale, I don't have the established buyers list in those areas and create a new one in each area that I get a deal in. If there are any truly experienced wholesalers in rural areas in the states below, PLEASE contact me. I'd love to do JV's to make the most of the leads.

TN, MI, WA, VA, AL, NM, OH, NC, SC

My local deals are where I use my agent license (true wholesale "deals" in our area are few and far between). My "seller" site brings in sellers across the country with any number of situations. Inherited homes are my favorite since homes are normally paid off. Every now and then my site will generate a local (Richmond, VA) seller. As far as homes having little equity, I would refer out the short sale listing possibly. I know lease options are another option however I'm not comfortable doing them long distance like I am with virtual wholesaling. The Realtor team I'm with does a considerable amount of rent-to-owns where the agent typically only receives $1,000 and I'm really not focusing on them or specifically that strategy knowing that I could just wholesale lease option instead. If anyone knows anybody doing long distance lease option wholesaling, please let me know. I'd be interested learning from them or partnering on deals I can't wholesale virtually.

I'm with you on working smarter, not harder. The only advertising I do is my "seller" site. No mailers, no signs, no PPC. Only organic leads.

Yes, he has already hired the lawyer and started the process. He stated the lawyer recommended selling the note because I'm sure he told the lawyer how "done" he is with the property.

Just like you mentioned, I basically got an idea of how low I can go for the offer. I've never done a note and never really had to put $$ upfront on the property. My whole goal is/was to lockup the property with a wholesale contract and then assign to end buyer. How would I do that with this without having to put up money? Do you recommend getting a partner on this one. The spread seems like its pretty good and I wouldn't mind splitting.

Hi all and Brian,

I think you got some decent answer already. I try to focus mainly on wholesaling but I'm an agent in Glen Allen/Richmond and its interesting how the different rent-to-own lease option strategies differ. You make a lot more as a wholesaler (what else is new). If you'd like to chat sometime, send me a message.