All Forum Posts by: Stephen Keighery

@Steve Morris no disrespect to you as I am sure you are a smart broker and investor. I think you could expand you mind more about wholesaling though. If people ask me what I do I say I am a wholesaler. I own over $4 Million worth of properties (all myself, no partnerships), I spend $6K every single month on marketing to find new deals. I assign most of them to other investors who love what I do. They get deals significantly better than what they can find themselves. They are leveraging my marketing and sales skills so they can just buy a good deal and focus on their exit strategies.  This gives me great dealflow and I can cherry pick the deals that best suit my criteria. Again I am not trying to have a go at you as I am sure you are very accomplished in your own right. I just want to say that you are making a statement to a new person getting started like its fact and the truth is you probably haven't dealt with many good wholesalers before. This is hurting someones potential. Don't put new people down or discourage them on things you don't know anything about. 

@Jada Atchison keep learning and reach out to me when you have questions. Wholesaling can be a great path to build wealth in the REI world. If you learn to be an investor and a wholesaler the opportunities you will present yourself with will be endless.

@Steve Morris I agree that wholesaling isn't investing, it is marketing & sales. Your reference is wrong and a little insulting though "Be kinda like saying you bet on sports and that makes you a pro athlete."  If the pro athlete is the investor then the wholesaler is the agent who sets up the athletes with great deals so he gets paid. 

There are lots of youtube videos, forums etc on wholesaling. I would suggest you get stuck into those and then come back and ask specific questions when you need clarification. No one wants to mentor someone when it means "Tell me what do do". They will help you when you are showing initiative, talking action and ask questions for clarification. 

I don't do bandit signs and I do know people swear by them so go for it. What I will see is even though I don't use them I still love them. They create a lot of brand awareness for the we buy houses process and I know I benefit from the people that go online and research this more because they end up finding me. 

@Yonah Weiss I have a Bachelor of commerce with a major in Marketing and Economics. The principal's I learned in economics does help me when considering property markets. I do a lot of direct to seller marketing so I guess I use those skills too. I think the best thing I got from University was some space to think about what I wanted to do. I attended a Robert Kioysaki seminar while at Uni and it changed the course of my life. I started to read about entrepreneurship and building businesses and investing. By the time I graduated in 2002 I had the confidence to start my own business instead of getting a Job and to this day I have never had a full time job.

@Alexis Hershberger pay off the highest interest rate one first

You also need to know the repair costs. The generic formula is ARV * 70% - repair costs is what a buyer will pay. If you want to wholesale you will need to get is cheaper than that to earn an assignment.

@Helen M McKane I haven't but do think his podcast is quality.

It's always a good time to buy if you are getting a deal. As they say you make your money when you buy so make sure you negotiate a deal that is solid and is not contingent on a bunch of things going right or appreciation. 

Propstream