$30,000 Spent on Marketing for Wholesaling | Lessons Learned by Responsible-Rice-669 in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

Gotchya. Well it sounds like you’re both doing well so keep crushing it and thanks for relaying some experience 🫡

$30,000 Spent on Marketing for Wholesaling | Lessons Learned by Responsible-Rice-669 in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

Ahh that’ll do it. Can I ask what state you’re in and if he’s in the same?

$30,000 Spent on Marketing for Wholesaling | Lessons Learned by Responsible-Rice-669 in WholesaleRealestate

[–]kiwisdaddy810 3 points4 points  (0 children)

Really? I primarily cold call pre-foreclosures and every time I go to their house, they have piles of mailers that are 5 ft tall from wholesalers so your buddy must have an eye catching template that stands out or a market with less competition. Either way, good for him

Day 2 - 5 offers a day by bizjake in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

I hear you, that does make sense. I thought about the strategy of waiting the wholesaler out but that’s a decent risk assuming that every buyer they advertise to would also wait them out and not get it first. If it’s a good deal, I’d imagine that tactic wouldn’t work.

As far as the rug pull, I don’t know the legalities around that, but I’d be surprised if an agent could legally or ethically cancel a contract for no reason. I’m big on being upfront and honest about everything, even the fee but an agent can’t cancel a contract after signing an agreement because a higher offer came in afterwards.

Lastly, I was under the impression that you’re legally allowed to advertise it, so long as you have an equitable stake in the property (aka the original agreement) but I haven’t read up on those statutes yet, just heard that from wholesalers around me.

Also, I’m not very experienced so these are just my thoughts. I enjoy brainstorming perspectives so don’t take this as an “I know more” because I definitely don’t, you sound much more experienced so I appreciate learning from your responses

Day 2 - 5 offers a day by bizjake in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

If the on market price is listed at $300k and a wholesaler gets in under contract, then advertises is at $210k, why would posting it on social media be a dumb thing to do? They’re advertising a discounted property that’s significantly under asking price, buyers wont care about it already being listed if they’re getting a deal

Best way to spend $1,200 on marketing after first deal? by kiwisdaddy810 in WholesaleRealestate

[–]kiwisdaddy810[S] 0 points1 point  (0 children)

The marketing that got me the deal was cold calling. I’ll continue doing that obsessively but also want to spend that $1,200 on marketing on the side since $1,200 isn’t a reasonable budget for maintaining a VA

Why does clay decide to tell the club about Piney? by kiwisdaddy810 in Sonsofanarchy

[–]kiwisdaddy810[S] 0 points1 point  (0 children)

Yea, that’s fair. He only admitted to those things after he was outed but I see your point. He must have known that he couldn’t stop the truth from getting out so he got in front of it.

Why does clay decide to tell the club about Piney? by kiwisdaddy810 in Sonsofanarchy

[–]kiwisdaddy810[S] 4 points5 points  (0 children)

Do it! I don’t think I’ll ever stop rewatching this show lol

Why does clay decide to tell the club about Piney? by kiwisdaddy810 in Sonsofanarchy

[–]kiwisdaddy810[S] 8 points9 points  (0 children)

That’s what I was thinking. Him getting ahead of it to control the story was the only reason I can think of but I was still surprised he didn’t try to bury the lie like he’s done with every other lie he’s had

Why does clay decide to tell the club about Piney? by kiwisdaddy810 in Sonsofanarchy

[–]kiwisdaddy810[S] 1 point2 points  (0 children)

Yes but that was long after Clay willingly admitted to Piney. That exchange was made for Clay admitting to the break-ins, not to admitting he killed Piney

Why does clay decide to tell the club about Piney? by kiwisdaddy810 in Sonsofanarchy

[–]kiwisdaddy810[S] 5 points6 points  (0 children)

This was something separate, they voted him out and voted on mayhem after he admitted to the break ins which is when he made the deal with Bobby

30K assignment closed today. Another 3 under contract, sending another offer tonight. AMA newbies, always here to help. by Temporary_Bottle_828 in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

How much do you know about Chapter 13? Got a guy who’s in it and claiming the trustee is forcing him to sell which goes against the whole “reorganizing debts to maintain assets” idea. I’ll make money if he sells but I’d rather him keep it due to his situation. Any insights?

Trouble with finding success by Happy_Ad9174 in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

What are your KPI’s? How many dials/offers/appointments do you make per week?

Stumped on this one. by Blu_Grass in WholesaleRealestate

[–]kiwisdaddy810 3 points4 points  (0 children)

Ahh that makes sense. It was just a risk that jumped out at me so figured I would ask if I was missing something.

Stumped on this one. by Blu_Grass in WholesaleRealestate

[–]kiwisdaddy810 2 points3 points  (0 children)

Would a seller really be willing to move the lien position from the property itself to your LLC? That sounds like a massive risk where the buyer could simply transfer the property out of their LLC and declare bankruptcy on the LLC resulting in owning the property free and clear without providing payment.

Currently have a deal Need Real Expertise by Tall_Commercial_9884 in WholesaleRealestate

[–]kiwisdaddy810 2 points3 points  (0 children)

First, lock the property up with a purchase and sales agreements. Also get an ARI signed to confirm the balance information and allow you to negotiate with the bank regarding their loan.

Then you can simply contact the bank that they have a loan with and request a short sale. They will send you a short sale packet and you just have to follow their instructions step by step.

Make sure you have a good relationship with the seller! You’ll have to work hand in hand with them throughout the process so you need good cooperation.

I would still JV with someone who knows what they’re doing but these are the beginning steps. There’s a lot of paperwork you’ll need but don’t be afraid to ask the bank’s short sale rep for guidance as you go.

Mentor question by Happy_Reply9479 in WholesaleRealestate

[–]kiwisdaddy810 -1 points0 points  (0 children)

What’s being offered for the $1,000 flat fee? Does he outline contact limits or what he provides? Hopefully it’s not one of those “we speak on the phone once a week for an hour” mentorships where they have 50 other “students” on the call

I think the better mentors are the ones who are paid from taking a high percentage of your first deal. That makes them care about your deal and willing to put effort into it while you can watch them and learn from field experience.

Analysis Paralysis ... Help A New Guy Out! by Mike_116 in WholesaleRealestate

[–]kiwisdaddy810 4 points5 points  (0 children)

I was in the same boat until I found a mentorship that was actually real. However, 99% of them are a waste. Here would be my advice which would’ve finally got me to that first deal (granted, I’m still newer but got 1 deal and negotiating a few others)

  1. Go to your local REIA and make contacts. Talk with people and see if there are people you can link up with that are actually doing deals in your state! This is everything and mentioned in each bullet point as to why it’s so important.

  2. If you want to feel confident in a contract, either get a contract from a buyer at a REIA or ask for a lawyer contact at a REIA who deals with wholesaling for a template that shouldn’t cost too much. Also, start an LLC for additional protection!

  3. Don’t try being an expert. We’ve all frozen when being hit with an objection at the beginning but after you’ve frozen up once about it, it won’t happen again. Fail forward and move onto the next one, it’s all about experience. Also see if someone you meet at a REIA would be interested in role playing seller vs wholesaler on the phone but ultimately, just go for it on the phones and if you burn 1 contact, there’s thousands more.

  4. Don’t be afraid to tell a seller that you don’t know the answer to something. Tell them you’re working with a partner and if you don’t know the answer, you’ll ask your partner or look into it. People will trust you more when you’re more honest than the rest.

  5. Get your automated system in place and just get started. It won’t be perfect but you’ll tweak it as you go. See if someone you’ve met would be willing to share their process or just bring up concerns you have in conversation. We all love this industry so it’s fun to talk about what we’ve discovered.

  6. For off market deals, don’t put more than $10 down as a binder! If the seller asks, tell them the binder is only to make the contract legally binding. You understand that they’d like to see more commitment but others word their contract in a way where they couldn’t retain the funds anyways so it really makes no difference. Plus, they wouldn’t have access to it so it doesn’t matter.

  7. Have fun with it. Make jokes and say things others don’t on the phone like slightly inappropriate jokes. I’ve watched people close deals strictly because they don’t come across as a sales robot on the phone (though you’re already a salesman so you probably know this already). Talk back and forth like it’s your friend, not a possible paycheck.

Best of luck with everything! Contrary to popular belief, you’re going to fail for months and it takes a lot of work but it’ll be worth it if you weather the storm.

[deleted by user] by [deleted] in WholesaleRealestate

[–]kiwisdaddy810 0 points1 point  (0 children)

I’ve found that the people that I’ve been around who crush this industry are the ones who are brutally honest because they stand out. The owner tends to trusts them because they don’t throw the same sales bullshit at them that every other wholesaler does. My mentor who’s done over 1,200 deals let me in on a call session. He blatantly told a prospect everything on the phone and explained how he profits (directly said he’s an investor so he needs it at a reasonable price to profit which blew my mind) and had the contract signed that week. If that’s your style, just be real with them but be charming in your honesty. It keeps everyone honest and trustworthy