All Forum Posts by: Shaun J.

When I was a bit younger than you, I was a stock broker on wall street, in NY. I was able to talk people into investing their IRA and Money Market accounts with me. If you know what you are doing, confidence exudes without trying to hype it up. Have your facts and NUMBERS right, build rapport and close the deal.

If you are chasing the right lists, this could even be your advantage (looking so young). 

@Karina Gomes. We all need to be numbers people. Onto the next one! 

What is your end game/exit strategy? 

It really depends. Is it livable as it sits? Maybe turn it into a rental to pay off the seller and save a bit for rehab? 

How is your credit? Do you have friends/family to borrow from? 

What are your numbers? What is the ARV and what is the anticipated rehab budget?

925,000 x .70 = 647500

647500 - 185,000 (rehab) = 462500

462500 - 42,000 (REA Fee) = 420500

420500 - 20,000 (your Fee) = 400500

Am I getting this right? 

@Karina Gomes. My MAO calculations may be off, but your MAO on those numbers should be $400,500?

I understand your argument. But every buyer's holding costs could be different depending on their funding over time etc. Some guys use HML and get 10% and 2-3 points. Some others have a better HML and may get 7% and 2 points. Some use Private money at less and no points, etc. Point is unless you understand how every single buyer on your list gets funding every time, you will spend more money trying to do math and lose the deal. You can assume most rehabbers hold for 3-6 months, but still, you need to know their holding costs on their money source.

You can have all the buyers in the world, but without sellers it's all for nothing. Spend sometime work on getting both at the same time 

@Sharon Vornholt -- If you don't mind, can you msg me about where you are getting your probate lists from? 

Thanks in advance! 

It's all relative to what your marketing says and it's call to action. 

To be honest, I keep my yellow letters short and sweet and try and be personable.

Think of how you do business with your friends when buying something from them

Hey Martin, 

It's Shaun. I am interested in buying your Motorcycle. Please give me a call back at xxx-xxx-xxxx

Thanks

Just another thought, Both of you can have your own LLC's and then do a JV contract to be partners on a as-needed basis -- This actually protects both of you better and still allows for a 50/50 deal