All Forum Posts by: Sage Jankowitz

Scott, very weird...We're communicating on two threads at the same time. Gotta love BP!!

Peter, the thing is even my real deal investors are keeping it vague on the things you would expect them to be specific on. Such as locations, bedrooms, school systems. A lot of them have such major operations going that they're literally open to 1/3 of the state and if the numbers fit they'll grab it.

I'm beginning to run into a similar situation with my investors over and over again. I ask them what neighborhoods they want to invest in and they list an area of the state covering well over 50 towns. Then I ask for their top 3 and they tell me they will invest anywhere within that area at X% of FMV. So my question is, if all my top buyers are giving me a HUGE range of towns to choose from, what should I look for in picking MY top 2-3? My top couple of buyers are looking for roughly 65% FMV, can spend up to ~$1M cash, and can close quickly. What kind of area would you go after? I should mention that in MA we have a WIDE range of towns in just a few miles, from $1M mansions down to $35K REOs. What type of area would you go after?

It's funny you ask. The next morning after our discussion I spoke with some rehabbers in the area. They're looking for much higher priced homes and it seems like section 8 isn't the way to go.

I still want to check it out either this weekend or in the coming week though. Gotta cover all my corners. I'll let you know...

Hey Folks,

I've been building my buyers list pretty consistently these last two weeks and I'm looking for more ways to connect with rehabbers. So far my best investors (and most reliable/efficient colleagues) BY FAR on my list have been rehabbers. I want to actively hunt each and everyone of them down and offer my services to them. Two questions:

1) As a wholesaler how can I stand out amongst other wholesalers? Of course bringing great deals that have the numbers right on a consistent basis is key, but what else can I do? I try to keep my emails and conversations on the short side and to the point. Please, for all you experienced rehabbers, what else do you look for in a good rehabber??!!!

2. If you were a wholesaler, how would you track yourself down? I have a RE agent working on all cash sales in my area in the past 6 months. I've been reaching out to investors in my area on BP, Craigslist, LinkedIn, friends, family, google searches, investor directories, cold calls, etc. I plan to attend my next REIA meeting as well. I'm planning a bandit sign campaign shortly. Any outside the box suggestions? Is there a rehabbers bar where you all meet up after work? Please throw me some ideas here!!! I'm motivated and ready to help!!!!

Hi Guy,

I'm a newer wholesaler in Massachusetts and I would suggest getting as much financing in place as possible from the beginning. From a wholesalers standpoint, they're looking for investors that have the cash and the ability to close quickly. I can usually tell within a couple minutes who is capable of closing on a deal and who isn't there yet.

You need to show wholesalers (especially when you've done very few deals) that you can close quickly and have the cash to back it up. If you do this your name rises to the top of the buyers list. If you don't, the great deals will slip to another investor.

And definitely go after every lead that's out there and let everyone know what you're doing. You stay persistent and let everyone out there know what you're doing and you'll succeed.

Good luck!

Sage

I'll give it a shot tomorrow Scott. Will update with results...

Thanks Scott, very helpful. I plan to do just that tomorrow.

Do you have any problems when writing all the contact info for all the posted properties? If I'm there for 30 mins and I'm just writing down numbers on a notepad they might get suspicious, no?

Agreed Mr. Investor. But I find that when I contact a few investors the odds of finding a quality one is very little and when I contact HUNDREDS the odds go way up...IMHO this goes for anything sales related. Trying to target a couple great investors is really tough in the beginning. It's much easier to target a bunch, find the best ones, then network with the successful ones to find others.

Hi David,

I have been to the website, but there were only 12 listings. Not a bad start, but I'm looking for a list that covers the entire eastern part of MA. There must be another way to obtain the list without a voucher. I just don't buy that...