All Forum Posts by: Spencer Shadrach

@Devan Mcclish sounds good. Look forward to it. 

@Devan Mcclish Thanks for the tips. We do tons of marketing to find distressed properties for buy and holds plus fix and flips. What areas do you buy? Send me your email, phone and I will give you a call. 

@Luka Milicevic Do you buy in those areas? Send me a private message and we can touch base. 

I've got several deals in the works in Nashville and we are looking for cash buyers for rentals and for fix and flips. 

Send me a private message if there are any investors who want to get in on these properties! 

Need advice. I want to start investing in Real estate in single family homes and fix and flips in Nashville and the surrounding areas. 

What is the best place for flips in Nashville? 

What is the best place for rentals in Nashville? 

Thanks! 

I used to run a profitable wholesale business in memphis where I did and found all the deals. Doing everything on your own can make for major ups and downs. I am really good at managing people and hustling. I am not good at negotiating, follow-up and paperwork. I decided to take a leap of faith and automate the things I am not best at.

My goal is to have a profitable wholesale business where it's totally automated. I recently hired a coach to help me automate my business. 

Just last week, my acquisitions guy locked up the contract and my dispositions manager sold the property. I did not talk to the seller and I did not talk to the buyer. 

1. We've got a VA who answers the phone and determines motivations.

2. Acquisitions goes out and locks up the contract when the appointment is set. 

3. Marketing manager sells the property to our list of ever growing cash buyers and closes the deal once we have a buyer. 

Right now close to half our profits go to employees and expenses. 

I'd love to hear from other wholesalers in the US on how they have their business set up. 

Best, 

Shadrach 

@Wayne Brooks do you know anyone who has had success in the tax overages? There are lots of businesses that are over-saturated but people are successful nonetheless. 

I found some pretty damaging complaints against Bob Diamond though..

@Larry Turowski Thanks for the help! These are great things to say. I've used this several times already as I've had about 50 phone calls in the past 2 days. I've been cussed out twice and been told I was being reported to the better business bureau by one individual. 

@Jon Klaus These are great answers.

I've got one more question: 

1. What are you willing to offer me? What do you want to pay for it? 

my general response is: I am an investor looking to buy from someone who needs to sell quickly or someone who has lots of repairs that need to be done; is that you? 

If not, I thank them for their time and tell them they need to pass my phone number along to one of their friends who needs to sell quickly. 

Right now, I've got 2 appointments set up to look at a couple houses. 

1. Will rent for $650. One needs repairs and he owes $2700 in taxes.He wants $14,000 but I think I can talk him down. 

Option 1: Wholesale the deal and make $6k. 

Option 2: One suggestion I had for him was paying half his taxes and giving him some moving money and then let him seller finance it to me. 

2.  The other the lady wants to move within 30-45 days. She owes $11,000 on the property. She wants to walk with $15,000. Houses in that area rent for $650. She wants to walk with a couple grand in her pocket. Option 1: Wholesale the deal for $3k-$10k. Option 2: Give her a couple grand down payment. Do a subject to existing mortgage and place a tenant in the house. 

Thanks for the critiques. 

Newbie investor

I recently put out a mailer for 950 yellow letters (gobigyellowletters.com) to homes with equity and absentee with equity.

Here are couple questions I've been getting:

1. How did you get my address?

2. Why do you think my house is for sale?

3. I get these letters all the time; my house is not for sale?

Does anyone have any objection handlers when talking to these folks?

Are there any other questions wholesalers get when talking on the phone with your mailing list?

Does anyone suggest including owner occupants and absentee owners in the same list?

This is not the first time I've been cussed out on the phone this week...was my response to one person.

My typical responses are:

Well, I am a local investor and I am looking for a house to buy. Do you have a house to sell?

I am working with @jerrypucket on a mailing also. I will you guys know how I like the two. 

@Andre Johnson I listened to this webinar last night. Have you found out any additional information on the systems or on Bob Diamond? 

Julia, 

Have you thought about an estate sale group to sell the items in the house? or is everything junk?