All Forum Posts by: Chris Uhler

@David Y. 

Questions to ask yourself:

What type of people are renting in the neighborhood (oil-gas industry, finance, unskilled labor, etc.)?

What % equity are you currently sitting on?

What are your goals in real estate?

Even if you did cash out, will you find a better cash flowing property anytime soon?

I would agree with @Brett Russell 

@Terrell Way 

Tell them you'll pay them $500 for every house you close on.  

@Terrell Way 

Talk to the mail people when you are out and about.  They'll know.  They seem to know things about people you'd never want to know. 

Preface the conversation with what you do and why you are looking for vacant homes so they aren't suspicious.  

Keep them sending you leads with a referral incentive.   

@Luke MacDougall 

If you use hard money you'll be giving away equity.  I would try to avoid that route. 

I sold a property last year with a similar scenario. The house wouldn't pass for an FHA loan as it sat, but with 2K worth of repairs it met the lenders requirements. The buyer elected to perform the repairs at their own expense. As the seller, I had them sign a release of liability just to protect myself.

If I were you I would tell the realtor you are fine with performing the repairs yourself and get it under contract.  The lender will then perform a second inspection to verify the repairs were made.  The seller should be thrilled!!  They now have a "vested" buyer that is improving their property at no expense.    

Lock it up!!

@Jared Butterfield 

If you are wholesaling, there really isn't a need for a lawyer unless you encounter something specific.  At that point you may need some advice, but will otherwise cost you a LOT in fees and most attorneys won't understand what wholesaling is.  

When I started I did form an LLC and my first deal was an inherited property where the seller's attorney was handling the probate process. Because it was my first deal and I didn't really know what I was doing yet, I had my attorney help through the probate process. Hindsight, I didn't need my attorney and could've saved the $1,300 (luckily it was a great deal).

Bottom line, you don't need one to wholesale.  If you get in a snag, hop on BiggerPockets.  If you can't find the info here, it doesn't exist.  

The biggest challenge is finding great deals, focus on that.  

I'm a fan.  

I've been impressed with the simplicity and the outstanding tech support.  The price is great as well.  

It's a big advantage having a company that understands your business and the type of people you're trying to target.  

@Ben Grotte 

I log them in the CRM, keep them in my main mailing list and continue to send to them with everyone else.  Depending on the lead, I'll followup with phone calls.  

The main idea is for them to remember you first when they decide to pull the trigger.

So far my experience with LeadPropeller has been great.  I've been very pleased with the ease of setup and support.  

As far as lead generation, We've just recently launched and it's too early to provide any trackable data.  

@Logan Allec 

Next!!

Don't waste your time.  She clearly stated she had no intentions of selling, no need for further contact.....