All Forum Posts by: Stephen Morales

Hi @Tiffany Haley,

It looks like you're on the right track! I would continue looking into local REI meet-ups around town.

You can also pull a list of cash buyers using some property data software and sort by minimum # of properties in someone's portfolio (I like to do 3 min), Min value of their portfolio to be $1M or so depending on the market you're in and that they made a purchase in the last 6-12 months to show that they are actively investing. 

You can skip trace and call on this list to help build new relationships with cash buyers.

It's definitely starting to shift in the direction for NE FL. Longer DOM and the most active listings on MLS since 2008

How long has it been on the market for? Why is it distressed? 

Why do you think the agent is terrible? Lack of communication? Because of the days on market? 

If you have great pictures and you have the property listed on MLS and they are doing their part to follow up, reach out to buyers and other agents then I can tell you with utmost certainty the issue is the price.

It's the same thing that happens when I follow up with Sellers that are selling their property and they have an ideal price in mind (fair enough even if sometimes it's farfetched). They shop around only to eventually take my offer because it's a bit better or the same as everyone else that makes offers on their home. Or WORSE, they take a higher offer from someone else only for them to try and renegotiate them lower than my original offer because the "price is too high". 

Unfortunately, even if you don't get the price you want the market HAS SPOKEN. Your in laws home is worth as much as the market is willing to pay for it. 

That's a fact.

Now again, without certain details of the property itself and other attributing factors I can't be 100%. However, I'm fairly confident that the issue is that the price is too high my friend. 

Good luck!

 I really like this approach, way to think outside of the box.

Much more risk adverse, especially with the current market conditions. That interest rate is incredible and probably never going to see that again, so there's no real point in selling if you plan on holding on to the home to get through another RE cycle. 

If I knew the rental market was strong in my area then I would end up taking the HEL. But I also really like James' idea.

You got this! 

 For a dialer system and actionable lists?

$300-600 a month. 

Mailer's definitely still work, I would budget $2k-3k per month if you are looking to do mailers in the same area and give about 2-3 months to start seeing that pipeline come to fruition. 

I would not advise driving for dollars in your free time. You are lacking one thing that D4D needs to be effective and that's TIME. You're better off pulling a targeted list of Sellers and cold calling them when you get off work up until about the cut off time when you legally can no longer cold call. 

Hi @Kijana Love,

It's gonna be pretty tough to be able to do anything with zero money and zero knowledge. I would start of with some free guides that are available online to get a general understanding of how the wholesaling process works. I would also get educated in the real estate sales process in general. 

If you don't have a job, I would get one of those and start saving up funds so you can dip into real estate part time. 

Truth is 99.5% of the people that I have helped in the past needed working capital in order to see success in wholesaling. The ones that were able to get their first deal with no money down spent a few months reaching out to FSBOs, agents, craigslist listings and FB listings before they ever saw a check. 

Not saying you wouldn't be the 0.5%...but the odds are not in your favor. 

If you can do that feel free to reach out to me and I'd be happy to offer you some educational support for free.

 It hurts to hear that. That $15k could've been used for a whole year of stable marketing. Like Stuart said it was probably some old pass me down, ran through list from 2 years ago. 

Hi @Carsyn Childress

We are definitely out here! Let's connect!