All Forum Posts by: Stephen Morales

Quote from @Luis Castro:

Thank you Stephen,

Yeah I've read about them, heard a lot of great things. I just wasn't sure whether it was enough to prevent me or keep me out of any legal trouble. That's probably the main reason why I'm a bit skeptical about contracts.

 Well if it makes you feel any better the language used is approved by those attorneys in those states so they say. You'd have to verify that, but judging by how they look they're pretty well structured.

@Jayson Zatarain

Glad I could help! Let me know if you need anything else, I'm always around!

Quote from @Account Closed:

Can anyone help me? I did a sub 2 with investors on my VA loan and in the contract they have 60 days to default then we convey property back to us. Well they are currently at 55 days in default. They are now wanting to catch it up but we no longer want business with them and refusing to give them access to pay. Can me as the owner of the mortgage get in trouble? I just want it back so I can sell it.

 Disclaimer: I am not an attorney nor is this legal advice. 

Although this account is closed, for anyone that is wondering go back and read your contract. 

Refusing their payment when they are still within the contractual 60-day window could be seen as acting in bad faith but may depend on your local laws. 

Yes, your credit can be impacted due to the missed payments. 

In this case a complaint from the investor would most likely complicate things. I would take the missed payments and maybe negotiate a formal settlement. A clean legal exit to take the property back would be safer than trying to force a default or refuse payments in bad faith. 

Quote from @Jayson Zatarain:

@Stephen Morales 

I’ve done some outreach, but I’m definitely interested in learning more about how you use data to connect with active investors. What kind of filters or strategies do you recommend for targeting the best buyers?

 Hey Jayson, 

I can run you through it in a demo later but it may adjust a bit depending on your market. 

I would pull a list of cash buyers based on the minimum amount of properties in their portfolio (normally 3-5), Portfolio Valuation (default to $1M but depends on area), and that they have purchased a property in the last 6-12 months to show active investing. 

Quote from @Krystal Giron:

Anyone have experience with this course? can join $1000 a month which gets you 50 direct wholesaling leads (1m - 6m old), access to a list of buyers, and all the tools needed to execute the deal. I typically would not consider for just the course aspect of it. However this gives you leads and buyers list… please share thoughts. TY! ✨

Yeah I mean... these leads could be old, they don't have to make any promises on quality of the leads. How do you know it's going to be a round robin distribution? What if everyone in you area gets the same 50 leads? How would you verify this? 

50 actual qualified leads-warm and ready to hear an offer, fresh off the press-typically go for around $150 to $500 per lead from most pay-per-lead (PPL) providers.

So I highly doubt you could call those 50 leads true leads. 

I think your money is better spent on doing your own list building and using a dedicated software for list building and lead gen. Don't get sucked into a "GOTCHA" subscription. 

Hi Jayson, 

Congrats on securing those deals! Have you ever used data to build a Buyer's list and connect with investors actively buying in your market? It can be a game changer for expanding your list especially if you set the appropriate filters. 

Let me know if you need help with something like that!

I like to tell people when you're on calls there is no real script. Call that owner like you're reaching out to someone you know.

"What do I ask them?", well if you could really buy their house for cash, outright... then what would you want to know about their home which you're about to invest your hard earned money into?

But I love the message here which is take action. You will learn as you go. 

Repetition is the mother of skill. 

Well depending on where their assigning contracts, they may need to hold a license. 

For example, IL you can only do one wholesale deal a year and you must be licensed to do anymore than that. 

But from what you're posting about it sounds like you're tired of agents not being open minded to wholesalers. I mean I used to think that way, but perspective changes. I think the biggest issue is lack of transparency from the wholesalers. I think agents should be more open minded to work with wholesalers. The ones that can put their ego aside end up expanding their network and unlocking more opportunities.

Hi @Xavier Soares, 

Welcome to BPs! I'd say getting your license is a solid start especially for establishing a baseline understanding of the space. 

If you're ever interested in getting into wholesaling feel free reach out to me. I'd be happy to show you some workflows, apps that worked for me and happy to answer any general questions you may have. 

Good luck on your journey! 

Quote from @Matthew Amore:

Hello, all, my name is Matthew Amore, I am currently a real estate agent in the Milwaukee County area of Wisconsin. I am looking to network and to learn about investing in properties. I am also looking to learn more about the real estate world. Please feel free to reach out anytime. I would love to connect with everyone and learn more about this amazing industry. Looking forward to speaking with you. 

Hi @Matthew Amore,

Welcome to the club! I actually have a wholesale contact that works some deals out of Milwaukee. Let me know if you want me to connect you with them. 

Good luck!