All Forum Posts by: Riley Hinshaw

hey BP, im really searching for a program or software that makes wholesaling easier, or helps with wholesaling. If any one knows a software or program i can buy that youve used that will help wholesalers please let me know, im looking forward to suggestions!

thanks!

1 Vote

thanks!

0 Votes

hey BP i was wondering if someone could give some advice on probates. im looking to start wholesaling probates, i already am a wholesaler ive just never dealt with probates. whats the best place to find probate properties? is there someone i can find that handles these properties that i can contact and ask if i can put it in under contract, or would i have to stick to just direct mailing a list of probates, also where could i get a list of probates.

also does anyone know where i can find a list of wholesale properties besides on BP to contact the wholesaler about co wholesaling their deals or finding them a buyer.

0 Votes

Originally posted by @Tom Mole:

@Riley Hinshaw, it sounds like you need more deals. You're not reaching the motivated seller through you own marketing at this point, but somehow others are. I would suggest you do two things concurrently.

First, go meet more wholesalers. Craiglist is fine, but you'll do even better to meet folks face to face. Check Meetup.com for RE investor meetups. Go to the meetups, find the wholesalers and tell them your story. A lot of wholesalers would jump at a good, reliable co-wholesaler that could consistently clear their pipeline.

Second, go talk to the wholesalers that you've been working with. Find out what they're doing that's working then go do that. If you could get more deals in the door on your own, you would not have to split the assignment fees.

It sounds like you may have found you niche. Go develop it and build your business.

Cheers!!

thanks a lot! some great info, ive been going to the local REI meetings but ive never tried asking a wholesaler to let me co wholesale their deals. i will try that and hope that they will give me the chance!

0 Votes

okay this might be a dumb or weird question, ive put out about a hundred bandit signs and have sent out letters to a lot of homes and still havent gotten any bites yet from sellers. However, ive co wholesaled (jv deal) a couple properties that other wholesalers had under contract. The properties ive helped sell, i got sold within a week each property. I also got more then the asking price to give me and the other wholesaler a bigger check. My question is, since im really good at selling, i would like to do a lot of jv deals while waiting to get my own property under contract. Whats the best way i can find wholesalers who will be willing to let me sell their deals or contracts? Right now, i contact wholesalers i find on craigslist and ask if they would be willing to let me market their property to my cash buyers in return for 30% of the assignment fee. Any method i can use to start doing a lot of jv deals ??

0 Votes

hey jennifer, i wholesale properties all through out socal and ive learned that socal is full of competition, however theres still a lot of oppurtunity and in my opinion one of the best markets to do it in. which is why theres so many others out here doing the same thing. Its the same as wholesaling any where else, and putting down $10 for an EMD is always the best. That way theres never a risk.

hope this can help

0 Votes

Originally posted by @Robert Lorenz:

Pre-forclosures should be easier, if anything, because you're still dealing with homeowner and not the bank. Since the owner is in a bind, you're reaching out to help keep the house from being taken back by the bank. This gives you the opportunity to get the house in someone else's hands before the bank takes over, keep a forclosure or short sale off the sellers credit history, and pay the bank what is owed. If you can make $ doing it, it's win-win-win-win.

Awesome ! That's what's I thought I just wanted to be sure . Thanks a lot for the perfectly worded response it helped a lot !!

0 Votes

is it any different or more difficult to wholesale a fresh pre foreclosure, one that doesnt yet have an auction date. if so can someone please explain why? any help is greatly appreciated !

0 Votes

Originally posted by @Hugo Aguillon:

I agree with Justin. Invest your 5-10k into his flip and gain a percentage out of it while gaining more knowledge. Your money will grow enough where you can flip on your own. I would let you invest if i were him. Good job in starting out young!

thank you very much for the helpful information

0 Votes

Originally posted by @Justin Fox:

I would approach him with a find and see if he would be interested in doing a joint flip. He purchases the house and provides the rehab costs less your contribution. Whatever percentage of the total purchase + flip price your contribution is, that is what you would take from profits.

So purchase a home for 40k, put 20k into it and your contribution would be 10k. After sell you would get your 10k back, plus 16.7% of the profits.

Seems reasonable to me and if this guy turns houses quick, you could make a pretty penny.

thanks a lot for the great feedback!!!

0 Votes

All Forum Posts by: Riley Hinshaw

Riley Hinshaw has started 30 posts and replied 62 times.

Post: HELP SOS

Post: HELP SOS

Post: wholesaling probates

Post: Need Help

Post: Need Help

Post: Wholesaling in Los Angele

Post: pre foreclosures

Post: pre foreclosures

Post: Looking for first flip, but need advice on getting started

Post: Looking for first flip, but need advice on getting started