All Forum Posts by: Stephen Morales

@Daniel Jodrey

As some others have said, house hacking is the way to get started here. Would be curious to hear an update on how your search is going so far. 

I would allocate some capital into lead generation while also working with a local realtor that is investor friendly in your markets. Try pulling some off-market homes with distress indicators or higher equity (70% or more). There are some sites where you can pull list for free here on BP :). 

But even though you are feeling the FOMO from not investing during the c19 era, just know that there really is no silver bullet to fire when it comes to investing in real estate.
Especially for the strategy you're wanting to implement.

Hey @Krystan Menz,

I would check out some cities in FL. Although we have seen a lot of new investors, Jax FL is still one of the top cities and is still experiencing rapid growth. Maybe one of the bigger downsides is the cost of insurance in recent years. 

Hey Christopher, 

Sounds like you should run some numbers on the property and reach out to the owner...But it also looks like you need some help getting started.

Before looking for mentors and what not, I'd recommend taking some time to really understand the basics. Youtube and studying these forums can give you tons of solid, free information on wholesaling and how real estate deals are structured. 

Once you have specific areas you have questions about, then I would bring that up and learn as you go. If you need help, feel free to reach out with any specifics you have. I can help point you in the right direction but you need to take some initiative in the initial learning process. 

Good luck!

Hey @Brayan Valdes,

Welcome to BPs!

I've been in the industry for about 10 years now, licensed in FL and I have been investing and wholesaling several of those years. It's part of the reason why I'm a Senior Partner with PrimeTracers! 

If you ever need advice or want an example of a workflow that would work for you, I'd be happy to help. 

Good luck out there!

@Talon Davis

It really depends... If you start with a list of 10,000 properties and a dialer - then I would look to budget $550-600 per month. Now from a list of 10,000 records you should be able to get 1-2 deals from that list if you target it appropriately. 

I would give yourself 2-3 months of marketing cushion so you can build a pipeline and start seeing results. It takes tremendous amount of effort when you're starting out but totally worth it!

Let me know if you need anything else. I can also provide a workflow if you plan on follow this strategy. 

Good luck!

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Hey @Daniel Generalov

Closed on plenty of those, with pulling list of them and cold calling. 

You can pull a list of tax liens and pre-foreclosures for free if you look in the right spots. 

Here's the other issue you have though, everyone else is targeting those same list. So even if you get them through preliminary means...you're still not the first bird to try and get that worm. 

It's all about working the numbers. 

Other than creating stack signals for existing lead types I think you have a pretty good hold on how to get ahead of the pack.

 I've done several over the years and there are certainly some opportunities to be had. Although I will say that it has been flooded with hedgefunds and out of town buyers that drive up the price to where there is little meat left on the bone to make it worth the purchase. 

In Duval county, it's very easy to pull up any liens, open permits and code violations on the property simply by looking them up for free online. 

If you do want to go the route of paying for a deep dive on each property you can. But pro-tip, don't bother doing this until you get closer to the auction date. Normally close to half of the auctions end up being redeemed before they auction ever starts.

 We recruited ours locally and they are paid well + commissions. 

But you can find VAs on upwork and agencies. I would recommend checking out REVA Global. Bob Lachance has a great agency that he runs and all of his agents are trained for 30 days before they can hop on calls. They run about $10.50 an hour. 

There are cheaper ones for sure but I've rarely had a good experience paying less for international VAs unless they are working for themselves. 

@Leo Singh

Did you end up using Probate fox? I hear Ernie does good things over there. 

If you want you can pull up a list of possible pre-probate leads using our software at PrimeTracers. We utilize a "deathflag" condition that represents certain deed types like spousal death or death transfer to a family. 

Check us out! It's free to sign up, no subscriptions, unlimited property data and lists and we give you 25 free skip tracing credits to try us out. Good luck!

https://prime-tracers.app/home