All Forum Posts by: Scott Johnson

@Jim S. What @Jim S. said. If you’re looking for a place you can get phone numbers for free, truepeoplesearch is a great one.

@Christopher Lyons, find a local mentor for either wholesaling or rental investing. You can absolutely get licensed, but as long as you know how to wholesale correctly in your state, you don't necessarily need to. It does give you the option of listing on the MLS.

Either way a mentor is highly recommended.

@Travis Biziorek, upvoted that because you’re spot on. If we can make $5K and close extremely quickly, that’s better than sitting on a property for 60 days and it not moving because it’s overpriced.

I had a great mentor that taught me to take care of both our buyers and sellers. Occasionally I’ll get my numbers wrong, but the question is then “how can I make this a good deal for my buyer and myself.” We all mess up. It’s the person who learns from it and applies that knowledge that moves on to smash it.

@Matt Hatton, 2 months an first paycheck was $500, which paid for my mom’s mentor tuition 😂

If you’re looking for the formula, it’s the basic sales funnel:

100 calls = 10 interested sellers = 1 accepts your offer.

Keep moving through the numbers. Business is a numbers game. If someone says “no” and you’re worrying about it, it’s because you’re not making enough calls.

@Joseph Knight, I’d highly recommend you find a mentor in wholesaling. This will help you learn the concepts as you go and you’ll have someone walking you through the process.

As for your question: agree on price —> both sign “Agreement to purchase” —> find a buyer (build your buyers list) —> buyer and you sign an “assignment addendum” —> you either leave the investor to finish the closing or you do what we do and schedule the closing/follow up to make sure all needs are met.

@Tyler Bobo, agreed. Just make sure you find a buyer before the contract is up. Normally this is 30-45 days.

If the seller want's to sell for that price, then what's the problem?

Yea, I'm originally from IL. Moved here about 20 years ago. Just goes to show why I never moved back! Lol!

@Jay Hinrichs, I would get a license but I prefer to not receive commissions, as we have to split them with other agents and brokers whom I’d work under. Wholesaling is simply my way of developing automated systems to find leads for properties that haven’t hit the market, so as to benefit flippers and create jobs.

The end game is cash flowing multi family residential. Wholesaling is a stepping stone. I’m also going to learn to rehab properties, as this is an even better way to acquire capital.

@Jay Hinrichs, I don’t market properties. I market contracts.