All Forum Posts by: Taylor Jennings

Yea this was a quick post. Another new wholesaler sent me the info. I basically copy pasted before going out with the wife.

Do you think the price is good still?

1438 west 35th street
Indianapolis, IN

VIDEO LINK: http://www.screenr.com/wLWH

Bedrooms(s): 3
Bathroom(s): 1
Square Ft: 1,472
Lot Size: 5250
Property Type: Single Family Home
Year Built: 1958

Purchase Price $15k
ARV:$50K TO $60K
Repairs ~$12k
Rents:$600 to $650 a month once Rehabbed

Repairs needed

Drywall
Needs new roof
Few windows
Sockets
Gutter boards
Needs new water heater

I would put it under contract and post it up on Facebook or work with another wholesaler in your area to market it to buyers.

Is it all the way up in your Chicago area?

Ok, I have been humbly reminded about how little I know...

I've had two of my first three phone leads ever over the last two days and I'm clueless with how to answer the question:

Seller: I'm facing foreclosure. How can you help me out?

(Simple question to answer right? WRONG not when you're out of control nervous ha)

How should I respond?

Thanks!

Wow, what a win Lindsay Wilcox!

I know a handful of investors that would have LOVED to have got their hands on that property!

Well done.

Curtis N. Jim M. Aaron Yates Thanks again for your "$0.02" ha

I want to add this in... He already paid the $25k for the program. He never said I had to help pay the debt, but as a partner I said I would pay half.

I wouldn't feel right leaving a partner with that much debt above them in a business.

He is struggling with time to take action (sounds a bit like me, but mine is more financial). He hasn't had much time to look at all the material on FB and could use help with marketing.

My thought:
I help him with his marketing and processing any deals. I don't ask to be paid for anything (unless he wants me to find the buyers). I don't ask for him to sign me up on FB, but to allow me to come by sometime to pull information to help with his marketing.

If I find a wholesale deal then he helps me estimate costs of repairs. When I find a house to rehab then I can partner with him on the project.

What do you think?

Aaron Yates Thanks for taking the time to reply!

I would lose the name of the company because he has his own company name and FB says not to use your name in the company name. He would want to keep his business name or create a new entity.

The vision I have goes hand in hand with the branding. I have a desire to use quite a bit of the money we bring in for outreach in my community and in Nicaragua (for now).

His Fortune Builders program allows him to add four people to his partner list which will give access to all of the training, scripts, materials, software, etc.

I've researched FB and believe they have a solid educational system... Only, I believe I can find most of that information out on my own through the internet and low and behold, BiggerPockets!

I know the systems FB has in place that I would have access to would be beneficial to my growth, but I don't know how I feel about paying back the loan since I know I can discover anything I need to know online if I just take the time.

A guy a met three months ago at a FB weekend event has an interest in partnering with me. I do have an interest in partnering, but I would really prefer to have two separate entities and work together on rehab projects.

He wants help with marketing, technology, and some of the business aspects. I want a reliable contractor that knows how to manage people. In addition, I would like to know more about the Fortune Builders systems for business.

I am going to be focusing on wholesaling quite a bit in the beginning and I don't need a partner for any of that... The rehabs though I would prefer to have one.

Here are the pros to the partnership with him:
1) Trustworthy and respected partner
2) Experience in construction, managing a crew, and contractor contacts
3) Full access to Fortune Builder systems
4) Driven
5) Split risk and costs

Here are the pros to the partnership with me:
1) Technology savvy
2) Driven
3) Constantly learning and educating
4) Experience in sales
5) Networking
6) Online Marketing

Here are the cons to the partnership:
1) I lose the name of the company
2) Possible change to the vision
3) Split $25k in debt for Fortune Builders

Please add any other 'cons to the partnership' I should know and let me know your thoughts on making the decision!

Also, I'm sure there is a way to structure a partnership per rehab? I would prefer to do that instead. (Any links are appreciated!)

Thanks.

Michael Quarles where do you get your lists for absentee owners?

Deborah Saddler thanks for taking the time to reply!

I'm actually wondering specifically what time I should post up the signs.

I wasn't sure if the police could ticket me or anything during the day?