All Forum Posts by: Steven Leigh

@Sahegin Charolia Great question. It really just depends on the contract. Sometimes the contract spells out a certain period, like 5 days from acceptance or whatever. With mine, the buyer basically inherits my rights to inspections up until closing, so however long until closing, they can do inspections. 

I definitely encourage due diligence and inspections from the buyers, because I'm not guaranteeing anything, just offering the deal. However, most of my cash buyers are very experienced and they make quick decisions based on one viewing of the property.

This property is under contract and ready for assignment.

Centerville wholesale deals don't come along often, so act fast!

6010 Brookburn Ct.

Centerville, OH 45459

ARV: $220,000

Estimated repairs: $50,000

Asking price: $120,000 OBO

Gross profit: $50,000!

4 bed/2 full baths

1,975 sqft.

Brick ranch on a beautiful 0.96 acre lot

Click HERE for full set of photos!

Call or text Steve at 937-239-4992

or email [email protected]

Recently sold comps:

1431 Roamont Dr

Dayton, OH 45459

Brick ranch, fully rehabbed, 3 bed/2 bath

$245,345

Sold Mar 13, 2017

981 Cedar Creek Cir

Dayton, OH 45459

Brick ranch, fully rehabbed, 3 bed/2 bath

$224,000

Sold Oct 3, 2016

6650 Carinthia Dr

Dayton, OH 45459

Brich ranch, rehabbed, 3 bed/2 bath

$212,000

Sold Nov 9, 2016

Repairs Needed: (needs everything, see photos for detail)

Roof

HVAC

Full flooring

Some drywall repair

Appliances

Water heater

Some electrical

Some plumbing

Full kitchen rehab

Full bath rehabs

This lack mindset is going to keep holding you back until you let it go. It doesn't matter in the slightest what someone else is making. Do the numbers work for you and are you happy with your profit? Then everyone else should be well-paid too and everyone wins!

When you start counting other people's money you are going to waste time and effort that could be spent on the next deal. If the next deal makes you $50,000 profit does it really matter whether you pay someone $8,000 or not? Sure, you can save some of that money if you work hard at it, but while you're working hard at counting your pennies, did you just miss out on another $50,000 deal, and another, and another???

For an ARV that low, you would need to get it MUCH cheaper.

That being said, if you could get it for say $3-5k from someone who really just wanted to dump it, you might be able to wholesale it for 7-8k and make a little on it.

For run-down properties in bad areas, bandit signs can be really effective. Put a handwritten bandit sign in the yard of the property that says

For Sale
$7,000 cash obo
555-5555

Then put up several others at major intersections nearby that say

Cheap House For Sale
$7,000 Cash OBO
123 Main St.
(arrow in the direction of the house)

This worked great for a recent deal for me.

The reason it works so well is regular investors won't buy in this neighborhood, but contractors, small-time investors, etc. who live and work in the neighborhood will see it, and they're not afraid of the neighborhood. You will have some people who can put together the cash and either live in it or rent it out or both.

Start looking into Podio. It's free, and you can add some Real Estate specific tools to it. Search Youtube and you'll find some videos on how to set it up for real estate or wholesaling or whatever you need.

It's pretty intimidating at first, but really all you need to start out is name, phone number, property address, etc. like you've been doing. Later you can delve into other stuff. 

The nice part is you can schedule tasks for follow-up, like calls at 30, 60, 90 days or whatever.

Good luck!

This will help:

http://bfy.tw/9j5t

 Because returned mail pieces ARE the solid leads. If I'm the only one searching for some of the returned mail, then I'm the ONLY one reaching that particular seller. You can't just BUY every lead, some of the take work. No amount of money will buy you the lead on the seller who moved away and didn't notify the county, so now she won't show up on absentee lists and won't be reached by the average person who mails to an equity list and doesn't skip trace the returned mail.

It's probably something like this.

https://www.eztexting.com/

They do things like "text 'wholesaling' to 313-131" and such.

I don't know any wholesalers who use this, but I guess if your buyers list was really big and your market was REALLY hot you could do it. Seems kind of over-the-top, though.

I think they and other companies do something where you can send out mass texts but it comes from a local number. That would be better, in my opinion. Then it looks like you're sending it personally and it doesn't seem so scammy.

@Nick Zocher I don't particularly mail to foreclosures or pre-foreclosures. If that's what you mail to that may the case, but I can't answer that very well.

I mail to tax delinquents, code violations, garage sales, equity, etc. so for me the returned mail definitely turns into hot leads. In fact, one of the most common reasons for the return is that someone is deceased, and in that situation the family may be looking for a solution for the property. So I then send mail to the nearest relatives.

Property is under contract and ready to be assigned.

3070 Stop 8 Rd.
Dayton, OH 45414

3 bed/1 bath 1,760 sqft (possibility of adding 2 bedrooms)
HUGE yard with lots of possibilities

2-car garage with breezeway in between

It's only 1.5 miles from the Miller Lane shops and restaurants, in a very quiet, well-kept neighborhood. Close to John Morrison Elementary.

ARV: 95-105 (or possibly more if you want to finish the LARGE upstairs space!)

Repairs: 25-30k

Rents: $750-850

Needs some roof repair, new kitchen, bathroom updates, refinish floors, exterior work (see photos)

Asking Price: $42k

MORE PHOTOS HERE: https://goo.gl/photos/u5zrtBfVWsuHjGQK9

CONTACT:

Steve Leigh

937-239-4992 call or text

[email protected]