All Forum Posts by: Steven Leigh

Asking Price: $5,000!!

ARV: 75k+

Rents from $650-750

1504 McLain St

Dayton, OH 45403

House is in bad condition inside and needs extensive rehab. Siding is fairly recent and roof is in good shape. No obvious structural issues. Furnace and water heater are missing and some wiring and plumbing have been removed as well. This could be a great rehab project for someone who can handle the work! The house right next door was fully rehabbed around 3 years ago.

MORE PHOTOS HERE: https://goo.gl/photos/c4Jg8rssq5QeR7Bf7

CONTACT:

Steve Leigh

[email protected]

937-239-4992 call or text

Recent Comps:

1012 Mclain St,

3 beds 1 bath 1,328 sqft

SOLD: $115,000

Sold on 08/17/16

129 S Terry St,

3 beds 2 baths 1,300 sqft

SOLD: $94,900

Sold on 06/02/16

@Brent Hill I don't dispute your points above. I can see the $1200 being a good value for some, and you're definitely right that $200 is a steal if it's bringing in even one solid deal a month.

I'm just not a fan of some of the marketing tactics used to bring students into the program, then charge them for a bunch of additional services. Parts of it definitely seem like bait and switch to me. "You thought the coaching was $99 a month? Well, it's actually $200 a month!"

 If there's any question of whether the coaching program is more of a marketing campaign to drum up business for Michael's other businesses, this is your answer.

I'm not saying his program doesn't work, but this was one of my major problems with it. All of the products you are advised to use from almost DAY ONE are Michael's products. His mail company, his call center, etc.

Also, I will just mention that I know a lot of you probably listen to Michael's podcast and get pretty excited about his call center, just like I did. $99 a month sounds like a steal! But when you actually look into it more, it costs $200 or more a month unless you are in the coaching program (6 months), the scripts are very strange and impersonal, and they seem to filter out people that I would have considered really good prospects! 

One other tip: When people want to be put on my buyers list I generally say, "I just want to let you know, that I make a lot of money on my deals, and I leave a lot of money in the deal for you as well. Are you okay with that?" They will always say yes, of course, but now if they start to complain about it later you can remind them of this conversation.

As others said, if it's a professional, they won't complain about what you make. They might grumble to themselves a little bit, but they will come back for your next deal.

All of my calls go to a simple voicemail message that asks them to leave their name, number, and the address of the property.

Yes, ALL of them. 

This is also a screening process. Any seller who isn't motivated enough about selling to not leave a message is not worth calling back.

I agree with what others have said above, but also wanted to add one thing. 

"They would most likely just want to cut me out as the middle man and buy straight from the seller once I've shown them the property."

No they wouldn't, because you have a contract to purchase the property. If the seller tries to sell directly to the buyer, you could take them to court. Would you actually do that? Probably not, but you could threaten it if needed.

The other thing to realize is that buyers who go behind a wholesaler's back tend to do that ONCE. Then all of the wholesalers in the area stop sending them deals and they get freezed out. They also might get kicked out of the REIA, other networking groups, etc.

As others have said, this is just fear talking. Your fear is trying to find ways to convince you that you can't do it, or that it's not a good idea, etc. Just power through the fear and keep learning and taking action.

@Brady Speers Yes I do, and a little bit in Columbus here and there.

This is not an endorsement as I haven't used this personally, but I've heard good things from those who used Upwork and hired VAs from the Philippines, as you can find those who speak perfect english.

The tips I was given was to really screen out those who are detail-oriented and can follow a script really well. You don't necessarily want a "creative thinker" as much as you want a "robot" who will do the exact steps you outline for them. The main reason being that if you need to replace them it will be much easier if you build a system instead of relying on someone's specific talents.

As for rates, I've heard they generally run $4-8 per hour, which is apparently a good wage in the Philippines, and of course you could offer bonuses and commissions to sweeten the deal for them.

Same topic right above your thread: https://www.biggerpockets.com/forums/93/topics/392...

Honestly, I have yet to find a good wholesaling book out there. Sean Terry's book is free on Amazon and it's not too bad, though it's a little heavy on the "quit your job" and a little light on the actual mechanics.

I would probably recommend you start listening to some wholesaling podcasts, and watch some Youtube videos. Here are a few of my favorites:

Investor Grit podcast and Youtube channel: Tom Krol is the best in the business, and his partner Cody Hofheine is excellent as well. They got rid of a lot of excellent back episodes on the podcast a while back, but they are building it back up and it is great.

Sean Terry's podcast and Youtube channel: Sean Terry can be a little heavy on marketing and products and things, but his info on wholesaling is excellent, and even though he has training programs, he doesn't really hold anything back as far as the mechanics of wholesaling. His podcast hasn't been updated in quite a while, but the back episodes are great.