All Forum Posts by: Scott Nolan
Scott Nolan has started 7 posts and replied 45 times.
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Oops. Still learning the quote feature.
Joe: Are you making these offers to the MLS-listed property at 50-70% of FMV? And people actually accept?
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Originally posted by @Joe Cleaver:
Our company wholesales anywhere from 10-15 listed properties each month from the MLS, about 40% of our business. The biggest thing with these properties is figuring out what number works for you and making an offer. If you're worried about offending the agent, then you are going to miss out on potential deals. Structured the correct way, many cash offers with quick closes are much more enticing than people think. Depending on the amount of transactional funding (or buyers network) you have available, you'll have to limit yourself to a few offers at a time until you are able to put out 10+ offers a week without fretting about all of them getting accepted. Once you have calculated your numbers and made an offer, start searching for the next. If another deal comes up while you're waiting, make another offer! A bird in the hand... No need to keep chasing the same deal for months at a time! (especially as a wholesaler)
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Thanks, Chad!
For a part-timer like myself, I'm hearing that negotiating with these sellers may not be the highest and best use of my time. If I had spare time laying around, sure, but not if time is tight.
Thanks again!
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
I'm asking what I should -do-.
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Stuart - I'm trying to consider them...by asking about it here.
Post: Wholesaling and Realtors?
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
What should a wholeseller do when contacted by an owner whose house is represented by a realtor? Is this even worth pursuing?
What if the person who contacts you -is- the Realtor?
Post: Evicting tenants in an auction bought property
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
John: First of all, any chance you are -Officer- Nisewonger?
Second, I'm a Virginia attorney.
Third, the advice above is all good. If you want the people out, your Cash for Keys is a fine way to smooth things over, but all you really need to do is give them 30 days written notice that the lease is about to end. I'd send it certified mail -and- hand-deliver it to them.
In all probability, they will simply leave and eviction will be unnecessary. If not, Virginia is just about the easiest state in the country from which to evict a tenant. Check your local city or county ordinances for variances in the law.
Post: Direct Mail in Northern Virginia
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Thanks Russell. But I got .4%.
Post: Direct Mail in Northern Virginia
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
.004%?
You're saying that if you sent 100,000 mailings, you'd get 4 responses?
Or did you mean a multiple of .004 (which would be .4% or 400 responses)?
That doesn't strike me as correct.
Post: New Member from Chantilly, VA
- Investor
- Fairfax, VA
- Posts 45
- Votes 12
Hello, Vamsee. I also live in Chantilly. Feel free to drop me a line and maybe we can have lunch and talk!