Jan 08
So many times I get the question “How do I get started wholesaleing properties?”
OK, here is the answer (Part 1).
I will give you the very first step. And the best thing about it is that you can start implementing it RIGHT NOW! No preparing stuff, no setup steps, no excuses - YOU ARE READY NOW!
It’s up to you to start NOW!
So, are you ready for this?
Here we go:
Spy on the “competition” and build your investor list at the same time.
- Get the latest edition of your local or regional paper (weekend edition works best). Find the Real Estate Wanted section and Call every ad that’s in there. Here’s what you say: “Hello, this is <blank> [say your name]. I’m calling to find out what type of properties you are most interested in buying right now. - [Let them answer… then continue:] I’m a property finder and I come across good wholesale deals in this area. Would you mind if I called or emailed you if I have something that fits your criteria? - [They say: No, not at all.] Ok, great can you give me an idea which areas and criteria you are looking for right now?”Then get the following criteria:- what area/location
- size of home (bedrooms, bathrooms, square footage)
- price range
- amount/level of repairs
- how do they close (cash/hard money/conventional loan/creative financing) If they say “cash” say this verbatim: “do you mean hard money or private money when you say cash or do you have the actual cash available?”, and LISTEN carefully! Your goal is to find out who is a true buyer who can perform and close.
- what LTV (”loan-to-value ratio”; this is a common misnomer for “what percentage of the fair market value are you willing to pay for the property?”
- what is your exit strategy (”Are you looking to rehab, or buy and hold, or for deals to assign to someone else?”)
- contact info (phone, fax, email)
- Keep the information in an excel spread sheet for now.
- Do the same with your weekly Pennysaver or Thrifty Nickel, and any “we Buy Houses” signs that you see.
Go to http://CaWholesaleDeals.com and sign up for my wholesale buyers list!
Subscribe to blog updates here so you get the next parts…
Jan 07
I’ve decided to use this new blog to track ALL interests and developments in my online world.
Working on a lot of different projects, deals, etc. my online persona needs a place where everything is anchored.
In 2008 I will be using teleseminars to grow my online business and keep in touch with more clients and customers more frequently. I invite you to support me in this effort. There will be a lot of free content, information, and mind share - designed to moving more real estate deals so YOU can make more profits and build more wealth.
More on this later…
Enjoy!
Jan 03
Kicking up your investing in 2008?
How about a nice buy-and-hold with a pond on 3 acres?
This home is appraised for $135,000. That leaves you an equity spread of $60,000 with only minor cosmetic repairs.
The only caveat is that it needs a new well to be drilled.
And for that reason, the seller will rebate $7,500 to you at closing!
This is truly a no-brainer for anyone looking to build equity and long-term wealth in real estate.
E-mail me immediately for details, but hurry - this will not last long!
Front: 3 bedrooms, 2 baths, 1300 sf
Back: Semi-finished basement and large deck
Street view
On the lot: Pond on 3 acre parcel
Dec 04
Here are the pictures that I promised! This multiunit property is truly fantastic, with tons of potential on a huge double lot. The main house is in great shape on the outside. It has been divided into two units (same electrical, separate gas meters).
The 3rd unit is a separate house in the back of the lot. You have so much space on the lot…
And not only that, this is a great North Altadena location - high above the smog and with fabulous valley and mountain views.
A second drive way serves as bona fide RV access!
Here are the exterior shots (click on the slides to get controls to stop at an image to take a closer look…):
Our wholesale price for this gorgeous property is only $560,000! - And at this price you have a minimum of $200,000 in “After-Repair Equity”! What would you do to lock in that much equity (profit) in a single deal?
Financing is possible and available. Let’s go and take advantage of this investor market! Email me ASAP or call 626-921-5882…
(Also check out interior slides - click here!)
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