All Forum Posts by: Shaun J.

While I am new-ish to REI, I have been a stockbroker, and a car flipper. One thing I learned in both was always trust your gut!

Aside from the pads etc, are there other ways to make income streams? Like john said, short term RV storages? Boat and vehicle storages, etc? A town of 500 would have me worried. 

You're kidding, right? Ripping 10's of thousands of dollars from sellers? The difference between you brokers and us is that you decided to get a license to do exactly what we do without a license. 

Let's take the magic $100k sale price that every guru loves to use.

Broker gets 4-6% and pays no closing costs, or even has to deal with the closing 100,000 x 6% =  $6,000 for the realtor

Wholesaler on that deal estimates comps, repairs, etc. Then has to market to his buyers' list (or make one), offers to pay closing costs for the seller. A good wholesaler will also pay for Title searches etc (If he values his buyers' list)

So the wholesaler makes maybe $5k on that deal and has maybe $1500 out of that in paying closing costs? 

Often cases a wholesaler helps a distressed buyer sell fast when their POS house won't pass a tradition inspection required by a bank/lender for a traditional sale to a home buyer. Maybe the house needs a C/O and can't get one, etc etc. The list goes on. 

As a broker, what do you do when an FHA or VA appraisal comes in low? We all know that sticks to that property for another similar buyers for 6+ months. Now your seller is at the mercy of that. Do you stop marketing or accepting offers on FHA/VA Loans? No. Why? Because most brokers just want money.

Can you and your fancy license help people like that? No. You just want your 4-6%. Instead of you being stubborn about wholesalers and cash buyers, why don't you find a way to help them and work with them to ultimately help sellers out? 

There are good brokers and bad brokers. There are good wholesalers and bad wholesalers. Period. Lets all just figure out how to work together. It's not that hard.

Hey Everyone, 

I find that while I am D4D I am writing down my potential leads on a pad, or a blank envelope etc. I get home, do my research and skip trace, then send them a yellow letter (I hate cold calling or getting cold called). I make checks next to the handwritten addresses etc when I send a letter or a big circle of something that seems good but needs a trip down to the town for more research etc. 

To my question, it's quickly getting out of hand, especially since I have another person also D4D and dropping me handwritten leads. 

Can anyone reccomend a free/cheap CRM that will help me with entering leads, creating follow up schedules etc? 

Thanks in Advance. 

Shaun, Long Island NY 

I have heard of them in my research, but unfortunately they do not lend in my area, NY. Have you googled their reviews and maybe watched some youtube videos of people who used them? 

You don't need a license to buy and sell real estate as an investor.

@Spencer Vance how much was his course anyway?

Maybe do a Lease Option with him and let him pay you down in time? 

Nicely done! 

Don't even waste a second on it. Take that time and look for other ways to make money.