All Forum Posts by: Sharon Vornholt

Kyle - I agree that you need more than one strategy in your marketing toolbox. For me, direct mail is hands down my best source of leads.

@Karen M. Thanks for letting me know. I have fixed it.

@Shari Posey. If you are a buy and hold person, all you need to do is find a way to close, and then refi the house. Have you tried your local investor friendly bank?

Karen M. I'm not sure what the problem is, but I will take a look.

Joy is a great resource for investors and she has about 5000 pages on her site all about marketing your businesS.

Shari -
I am a full time wholesaler, and I can tell you this is very much a relationship business. You should go to the REIA meeting in the area you want to work even though it is inconventient. Like the other
folks said, a wholesaler will want to get to know you, and they will want to know that you can close the deal quickly.

Personally, I work with the same people over and over again. But, all of these investors were new to me at one time. I know 100% when I write a contract with these buyers, that they will close in 7 - 14 days.

I only work with cash buyers, but that cash can come from a number of sources such as:

A HELOC (home equity line of credit)
Funds from a self directed Roth IRA
An investor friendly bank ( I still have a couple of folks that use these)
Private money or hard money
A money "partner" in the deal (find them at your REIA meeting)
Actual Cash! Yes there are still folks out there that have cash

Like John said, real wholesalers like me that are known to have good deals, they do a lot of marketing. One place my deals don't come from is the MLS. My deals come from my direct mail marketing which has been very successful.

Brian -

I have a friend Mike Butler, that has over 100 properties and he never picks up one dime of rent. He also rarely has tenent problems.

When the tenant is late, he sends a 7 day letter on that first day. If they haven't paid at the end of that time, he begins the eviction process. When the tenant is "shocked" that he actually followed the policies laid out for the tenants in the lease, they either bring the full amount owed to the office including late fees, court costs etc in cash or money order, or the eviction process continues. He rarely has this problem a second time. If they are just "bad tenants", he gets rid of them quickly and moves on.

Now if the tenant calls him and lets him know they have an occassional problem, he works with that tenant so long as they do what they agreed. Mike has a lot of really long term tenants because he is also a good landlord that takes care of repairs quickly, has a rewards program etc.

He wrote a book called "Landlording on Autopilot" that is on the Amazon best seller list. Check it out. It's full of great info for landlords.

My daughter manages a large apt. complex of 500+ units. I know they are using it with good results. I think the cost is a couple hundred dollars per unit like Cheryl said. I know that they have a company come in and do the work.

Folks are pretty casual at our meeting. Not too many suits or shorts though. You are always safe with business casual.

Will-

Yes I do. You can put a simple sentence in there asking them to call if the house is sold. I can honestly say that in almost 5 years now of working with probates, I have only had about 1 person each year get angry that I was mailing to them.

When someone calls me, I pull up the contact in my ACT database while I have them on the phone. I can make notes that way about the call. If they tell me the house is listed, I "ask permission" to keep them on the list "just in case" the house doesn't sell or things change for them and they need a quick sale. I have never had anyone tell me no.

I always ask folks to call me if the house sells so I don't keep sending th.m letters.

Reggie - Just figure this in your price when you make your offer. Like Ned said, they will be paid at closing. No big deal.