All Forum Posts by: Thomas Johnson

To your success!!

@Chibuzor Nnaji I learned that way of finding cash buyers from an online resource.  I have not personally had to use it yet. If you are doing deals locally, it's best to network with the cash buyers in your market first. Of course all will not come out to networking events and meet ups,  but enough to put on your email list to start sending deals out to. If you cannot move a deal, then using list source to find 100% equity, absentee owners, with purchase date  last 3 to 6 months in that specific zip code are your cash buyers. Hope that helps !!

@Josh Wagner, everyone knows that bandit signs are illegal in just about every market. However, I started my marketing by putting out 25 signs a week. It was the cheapest way to get my phone ringing and talking to prospects. My first deal came shortly after in about 2 weeks. I'm not saying to go and use bandit signs but this is how I started.

I'm sure you've heard this a few times but I try to get the property at 70% of the ARV minus repairs minus your fee.

Ex. $100,000 ARV * 70% = $70,000 - 5K repairs= $65,000 - $5,000 (your fee)= $60,000 would be your offer to seller.

So if you are asking $70,000 and the buyer agrees to purchase at $64,000, you accept the deal and make $4K on the deal. Hope this is not confusing.

@Sultan Maawali if he is wanting 56,900 there is really no room to wholesale. You would need to negotiate the deal lower to find a cash buyer.

^^ Agreed, I love listening to his podcasts!!

Again, everyone will have a different say so as to what works best. I think it's all based on timing. If your letter hits when the seller needs to solve a problem, then they will pick up the phone and call you. Have I received calls from generic yellow letter templates? Absolutely!! Have I closed a deal when my budget was low and I've had to actually hand write the yellow letter? Yep. Just take action and the leads will come.

Hey @Josh Wagner, direct mail is very effective for reaching your target audience.  I normally just keep it pretty simple.  My name is ... I want to buy your house at xyz street. Please call me if you are interesting in selling. Then leave my contact information. Hope this helps!!  I'm sure everyone may have a different way but I think it all works.

@William Huston I found the post cards on ebay as well. Are you using the 4x6 size because there are also 4x3. I haven't used postcard marketing yet and looking to add a second channel to my marketing. I'm using bandit signs as of now.

@Account Closed, it is very possible that someone could be deceptive with electronic signatures. However, I am very sure that the title company will verify the identities of all parties when opening escrow and definitely before the closing.