All Forum Posts by: Randall Wall

So we close a lot of transactions as investors and agents. But every so often the deal falls through due to financing, appraisal, due diligence, or some other reason that comes up. Sometimes its friends or family members of the seller that want the property at the price we are paying once they hear about it.

One guy on Trulia said 15-25% but that seems pretty high another said 10-15% which seems more reasonable.

What is your experience?

I attended the Nuveau Riche University and found it sadly lacking.. Their instructors were not really successful investors they typically were from smaller markets.  Some of what they taught was criminal and it was marginal at best..

When you are a newby and know nothing then everything looks good. Joining your local REIA will do far more for you than any other group type organization selling education.

This is a boom bust business in that up markets education providers thrive.. And yet they implode rapidly with market shifts downwards..

Locally we have one of our association members who is involved with them but he is a Newb as well and isn't doing a lot of volume but as he has a "little" more experience than others he is leading his Renatus group..

The whole use "0" interest cards to fund one vehicle which funds another is downright scary and I think has hurt more people than it has helped.. HE talks about insurance, credit cards, HSA accounts and investing.. 

That is what sent most tumbling down after the last market shift..

Cody, who are those third party vendors?

Tax delinquencies here are very small with maybe 5 properties a year going to tax sale at most in an area of more than 1M.  Not like other states as almost all loans have that escrowed.

The goal is 10 wholesales a month but I do a number of listings, flips, etc. out of that month. Last month we didn't hit 10 but did a wholetale for 100K..

Currently I am sending out 40-80,000 post cards a month and about 40,000 door hangers. I don't get anywhere near the return that Michael Quarles says we should get of 8-10X dollars spent..

I went to List Source for the first time and they are really really expensive! 

3 counties 30% + equity 2br+ SFR lived in home 4+ years and at least 4 years from last sale..

Came back with 53,000 names and $42,000 for the list...WOW!

Think I will go back to the other list providers.. I had a Virtual Assistant scrub an out of town owner list for the same criteria on the county recorder website a year ago for about $1000!

Am I missing something>?

Are there other alternatives that you like?

I just put a list together on list source that they charged me $42,000 for 53,000 names... I have never paid more than .20 per name and thought that was high!! Sheesh!

You can have the worst possible domain name in the world and if you get it out there in front of people and it's memorable then it will be way better than the very best domain name that nobody see..;)

Most newbie investors and agents will spend tons of time and money trying to get the "perfect" pitch or marketing program and never really do anything other than futz around in the office worrying about every little thing and how it will affect people.

Tons of investors make huge incomes without a website of any kind..

Well.... If he tries wholesaling he would use none or very little of that 150K he has and could generate an infinite return.

20K a month is pretty easy in our market for wholesalers to achieve in their spare time.

2- Hard money lending to other investors would generate 1-2 points per month typically secured by real estate.

3- He could partner with an experienced investor on a flip transaction where he puts up the money and collects 40-50% of the profits.  While I mostly just pay 12% simple interest I partner fairly often and my last deal made my investor partner $105,000.00

4- He could buy a note on property and that could be fairly profitable. My best deal ever I bought a note a $90,000 with a $45,000 rebate to me on it and doubled money in 90 days.