All Forum Posts by: Russell Ponce

Offer $60k cash. Be ready to move to next deal. Obviously I dont know your market but offer low and dont get bogged down trying to create a deal when there isnt one. IMO

It is not easy to find sellers willing to sell at a discount but that is the key to finding off market deals. Such folks are referred to as "motivated sellers," they become motivated for different reasons like bad tennants, damaged property that they cant or dont want to fix, a property falls into their lap that they want nothing to do with, etc.

You as the investor dont need bank approval, you can offer cash and the ability to close quickly. You sign a purchase agreement with seller and get private financing or sell your contract to an investor for a fee (called "assigning" the contract).

California is competetive. Lots of money and foreclosures are slowing down, good conditions for wholesalers. 

Check out Jerry Puckett, podcast #21, he does yellow letters for lots of investors, you guys might have a lot to talk about!

Of course Michael Quarles is on here and his name is synonymous with yellow letters, very successful.

@Tim Leslie 

Welcome! Lots of conversation here on bp about marketing and specifically about yellow letters. Your contribution will be valued.

How is investing in Minnesota? And how much does the snow season affect investor activity?

Congratulations! What has been working for you?

Its being done, Jose, the successful wholesalers are consistent with their marketing.

Sharon Vornholt is a great resource here on bp and is from Kentucky. Check out podcast #21

Ask advice from one of your local buyers

Think Big, have fun, be persistent

@Lekisha Cole 

I wouldnt waste any time on mls. Although ive heard of some people wholesaling listed properties you would have to be in a market where investors are asleep at the wheel. To me a wholesaler is a deal finder, once everyone knows about it it will be dificult to outbid them for it and then mark it up and resell it back to same pool of buyers.