All Forum Posts by: Tyler Bond

Hey guys, im Tyler. Im a wholesaler. I buy and hold. I love the business like all of you. I caught the bug and I cant get rid of it. If you are just getting started in real estate and you have a deal or are working to get one but just don't know what to do with it or how to go about it, let me return a favor and walk you through it like a great man did for me a couple years ago. 

Hey guys,

First off,

This has been a crazy fun ride so far. Thanks for your help when I was first getting started, you all really helped me when I needed it and continue to do so. So, thank you.

I'm primarily wholesaling right now to get started into real estate. I have my first lead who sounds extremely motivated from a bandit sign. The house would need to be demolished and used for just the land. however it sits on a .36 acre and also there is a very small USELESS .19 acre lot neighboring his with nothing but a rusty trailer on it. My thoughts are to get this guys to go cheap. REAL cheap and get basically at a wholesale land value minus demo costs. Plus buy out the neighboring land and join the two together selling it as a .55 acre lot. Its in a nice area in the country but on the main road. I have three people in mind who are likely to buy the property and build something on it. Land value for the lot is about 42K-46K in the area. He said he will take 32K but it depends on me. He just want out of the past and done with it. (Again, showing huge signs of motivation!!!) He owes 10,500 and I really hosnestly think he will let it go below 20K!! i'm initally going to start out at 13K. I thing I could pick up the little useless lot for around 3-5K at the most. Assessed value on the .19 lot is $898 so 3-5 should be PLEANTY. Anyway, to the escrow question before I blabber on any longer. If I were to get the .36 lot for say 15K and then get the other little one for 5K im in 20K. I would just fill out a contract for both separately (of course). Then find a buyer for the package deal within 30-45 days? Do TWO assignment contracts. and then once i have a total of BOTH buy side purchase contracts and BOTH assignments for each. Then i take it to the title company? Or would i be better off doing a double close and each one which entails a total of 4 closings!? Will and experienced wholesaler please walk me through what the contract structure should look like? I know nothing has been done yet other than ideas flourishing in my mind. however Id'e like to know if these ideas are even legal and possible. Thank you so much for your patience and wisdom. I really appreciate your time you spend on here to help people like myself join the small percent of the people who accomplish their dreams to success and financial freedom.

Hello,

So i got my absentee list off of ListSource today. It gave me what i searched for. However, I have a question I need cleared up. It shows the "Owner 1 Label Name" on every address, "Owner 2 Label Name" on a lot of them next to the OWNER 1, and "Owner Care of Name" on a select few. My question is, who do I write the letters to? I think its Owner 1, and Owner 2 is a co-signer and Care of name is like a manager? But i want to be sure before I get writing my butt off.

Thank you,
Tyler

Hey guys,

Man this investing is intense! Emotionally. So this morning I set out 25 bandit signs in my small town. I got a call this afternoon. I called the guy back and got some information.

Here's how it went,

He told me him and 2 other siblings got the house from inheritance. He lives in town and has been taking care of the home for 1 year now and its getting old, quick. His brother and sister live out of state. There is 100% equity in the home. Im very new but I would scale his motivation from a scale of 1-10, I would say 5. It sounds like he can go either way. He talked to realtors to get an opinion on value. I will pull comps here in a bit. He said he doesnt want to let a 120-130K house go for 80K. I told him i understand but Im an investor and for me to even get my other investors to look at it I have to be at least 70% below retail - repairs. He said he understands. Anyways, long story short, I set an appointment and said let be come check it out and pitch you an offer and go from there. Even though the motivation doesn't sound extremely strong, I want to leave an offer so he can sit on it. He's single and only has 20% equity in his own house. He said he would like to put money down on his own home. If times were to get rough for him, I want him to come directly to me and ask if the offer still stands?

Any advice guys?

I know to get there, build rapport, analyse the repair cost intensively, and then offer.

I'm thinking I will go there, build rapport of course, analyse repairs. THEN, go home, add up cost of repairs, call my mentor/helper/friend see what he thinks, then call the guy back and present offer on the phone.

I know its probably best to present an offer right at the appointment. However, i'm only 19 and don't know all that much yet so i want to go home and think/analyze it in detail before I talk numbers.

Thank you all in advance,

Tyler

Thanks Jon, Very informative. Thank you all for your help.

Thanks Dawn.

Carlos, So on the envelope would I just write that under where the return address is then? Would it cost extra? The cost isn't an issue but how would I pay for that return?

Alright guys,

I have been driving for dollars lately looking for vacant homes. I found one right next to my friends house. He told my buddy that he was moving to Oregon and was just going to let his house foreclose! IDIOT! Anyway, I pulled the parcel # from my county GIS map and the owner is listed there but the mailing address is the same as the property address. Iv'e come across this situation many of times. Is there a free way to find out where this guy is? This might be a stupid question but for you experienced in finding info on a vacant house might know the best, quickest way to do so.

Thanks in advance,

Tyler

Oh man! Much respect for everyone on here! Thank you guys for everything you said. David, J Scott, Bill, Joseph, Thank you.

Brandon Turner Duh! I didn't even realize that. Thank you! I just called the guy back. much better conversation he was happy to hear that. He said, "Like I said, I basically control this area but if you do end up getting something I would like call."

Heck yeah! That negative feeling just subsided.

Lesson Learned: Always look for something you can get out of a failure.

Thanks again man!

Dean, I think I would have to agree with you as well. Screw his word. Through persistence and dedication I could pin point the flaws in my competitors and ultimately control the marketing around here.

Thanks guys, I'm glad I posted my thoughts on this one. Thanks BP for makings things like this happen!

Thanks man,

Yeah he did bring me down. However, i'm going to keep pushing. There's no reason why I cant become the "Best" around and eventually "control" it. Heck, the guy was probably 45-50. He said he doesn't do much wholesaling anymore. Instead he does the full rehabs. I agree, it did sound as if he was waiting for things to come to him. He has a website but that's all iv'e ever seen.

By the way, its pretty cool having Brandon Turner reply to your questions. I've heard you in the podcasts. Much respect.

Thank you sir.