Check out this video https://www.youtube.com/watch?v=YG5AAWk78pU. What information should be included in a Wholesaling Deal Marketing Package? Do I tell the seller “I” want to buy their property? But I also agree with RANDY PHILLIPS regarding licensing. We have found a mentor This is a great starting point, but again, each market is different and some markets are more aggressive, so you can push the envelope a little. Do I need a real estate license to buy and sell these properties? I had a bad feeling and I almost grabbed my contract and ran for the hills screaming like a banshee. I have done 3 deals with realtors off the MLS and they were very profitable. Guess who Made 10 Frikin Grand today? The best investors surround themselves with the best team. Ask the questions about their property and their situation, then shut up and listen. Thanks again for your input. What are best practices for having a new logo designed? Many homebuyers are clueless when it comes to the home buying process, which can be complicated and daunting for a first-timer. Now I couldnt assign, I had to have a $3,000 earnest deposit and I cud not do an inspection & had 5 days to close & I had to use her Title company. Marcus, for mail campaigns, can you elaborate on where you buy your lists, what date filters you use, and how many letters must be sent to generate workable results. Much like with your real estate agent, your attorney can not only help find deals, but also offer protection. Let’s start with questions that every prospective real estate investor should think about, no matter what kind of investment model they’re considering. Home buyers should be sure to find the answers to these 10 important questions before deciding to buy a property. Always looking for someone to talk with to further educate myself in real-estate investing reading blogs and listening to youtube videos only gets you so far. How do I buy houses that are in foreclosure? I am over here in central California, Fresno, however some of my best deals are in these one horse farming towns within 1 hours drive. You can get a copy of the contract we use for our out of state deals at equityrealestateblog.com let me know if it downloads we’ve been having some glitches due to the high download demand. Just like most professions, there are those that work hard, work smart, and make a lot of money and those who don’t and fail. He has also converted some of his deals into cash-flowing rentals. Thats putting about $80k in....margins for flippers is very tight and yet fixer uppers here have multiple cash offers only expecting to make $25k profit after all expenses. How will you communicate with me? I’m a newbie and definitely fearful but it’s certainly not going to stop me. Marcus, for mail campaigns, can you elaborate on where you buy your lists, what data filters you use, and how many letters must be sent to generate workable results. Bill can be reached via email at [email protected] or by phone at 508-625-0191. I am working on becoming a certified trainer for NLP this is one of my goals for this years. He specializes in wholesaling, wholetailing, creative financing, and scaling a business from a one-man band to an amazing full team running 100s of deals per year. Most are know it alls and believe they have the equivalent of Real Estate law degrees because the did a 3 day class and got a re license. The average Report comment. Or if anyone else has insight on my question…. I will discuss the license in a later question. Direct mail to absentee owners is working. I want to sell it but have not told anyone.” We are under contract right now on both legs of the transaction, and he is finally getting hands-on training. Will I want to take advantage of real estate / business coaching too? By Real Estate Coach and Listing Inventory Expert Darryl Davis . For marketing you can do drip campaigns you just have to make sure at the bottom of the letter you add that you are a license agent and you need to have legal info such as your brokerage, and all picture insignia. That’s why it’s important to provide informative answers to their most basic, yet crucial questions. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. 1. They ask leads what their goals are, what kind of properties they have or want to buy, and other questions. Since it’s already the second week of the year, many already have their goals outlined. I got a check for a $6,000 assignment fee, I paid out $2,000 to my bird dog. I hate to be a Bother, but I am still I need of the contracts. A frequently asked question from home sellers before listing their home for sale is related to the local real estate market. Questions to Ask Before Any Real Estate Investment. They ask leads what their goals are, what kind of properties they have or want to buy, and other questions. I just keep running the conversation through my head. If you signed up for BiggerPockets via Facebook, you can log in with just one click! They will get into exactly what they are looking for exactly what they're looking for. I provide you with the contracts I use in my book, and I’m in California. Are the wholesalers truthful about the cost of repairs and the after-repaired value (ARV)? Great for those looking to get started in wholesaling. Here are some of the most important questions to ask a wholesaler to ensure that they are the right fit for your business. Thanks again for your input. I feel like I’ve wasted a lot of time visiting properties and talking to people with no results. I inform them I will do a desktop evaluation and then present them a verbal offer over the phone. I have a contract that you can use as a rubric but it is always good to have an attorney for your state review your contracts this way you know you have support in the event litigation may occur. Try to establish that you are not the final decision maker and your business partner does the finances if they really ask (even though you might not have a business partner, it’s necessary to build trust between you and the seller). If they are not interested in the offer I make sure I follow up with them next month. It opens up other avenues for income. Thank you, Anthony, thanks for reading sounds like your off and running on the right track. This is it. Your goal after having a fully executed (signed) contract is to then market your agreement to potential buyers. Curious to know. Also what did you learn??? We normally have the IP (inspection period) contingent upon partners approval. Normally, the next question is how do I estimate repairs? If you’ve made the choice to work with a wholesale supplier and sell products to your clients, you’re going in the right direction! Let’s make some Money…. I wish I cud present myself that well, I just go with the big friendly smile and it seems to kill em. Where do I start? Again, you have to tell everyone you know what you are doing — I know you may be ashamed to tell anyone because you haven’t done a deal yet. Alex, They might ask you a variety of questions related to the field to test your knowledge. “Competition can be fierce and time tight in the rental sector, so it is crucial to have your finances in order and be able to move quickly,” says Kate Eales, Head of National Lettings at Strutt & Parker. There are many market indicators that a top producing Realtor should be able to share with you to help explain the condition of the local real estate market. We’re currently running a multimillion dollar non profit for kids we built from the ground up. If you are unclear about question #1, feel free to ask questions in the comment section. This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. He told me how he spent nearly $30K on one educational seminar, but still didn’t have anyone he could contact to help him navigate his way through a deal. Thank you for taking the time to write this article! How can I get to know my local real estate market better? Here are ten questions that may affect the purchase of your new home or sale of the old one that you might want to ask your real estate agent or attorney. If you make the ballpark figure (60-70% ARV) and the conversation is still engaging then go view the property. I also want to get into wholesaling because I want to get better deals for myself but also be able to diversify and get income from wholesaling on deals I can’t or don’t want to rehab. Do They Even Do Dropshipping? Real Estate FAQs. Great question its semantics, this is why most say you are marketing the contract you have on the property and not the property. When you research the possible questions they may ask and prepare your answers, you will likely feel more confident during your interview. Similar to finding a investor friendly title company this is the same with a brokerage. Of course taking action is the main reason I’m doing deals. But it really wasn’t that bad,I enjoyed going toe to toe with this bossy know it all realtor and it made for a good chapter in my book. I swear to you, once you start doing this, you will find your mentor — or better yet, they will find what they are looking for in you. Double escrow or assignment contract for Washington state? Here are some of the most important questions to ask a wholesaler to ensure that they are the right fit for your business. How often will you be in contact with me? Sam, I also try to get an idea of what price point they are thinking about. Go to equityrealestateblog.com for a contract download, thanks for reading, Hey Marcus, I was wondering what do your contracts and/or assignment contract look like? Get and an LLC The first question is the most important one of all, for the simple reason that the whole plan falls through if they answer no. Depending on the type of property you plan to buy, the location, the age of the property, and what your intended use is, there is a great deal of specific and important information you should know. He contributes content regularly to his, Hi Marcus, Angelor, thanks for reading I glad I could help. I appreciate the tips you have provided. Choose wisely, or you’ll be stuck with someone you don’t see eye-to-eye with, or worse, someone you don’t trust. Expertise: 5 Articles Written. Here are the top 10 real estate questions, and the answers supplied by our expert network of RE/MAX brokers and agents across Canada. This question when it's asked then you just have to make sure you are quiet. 3.) There are a lot of decisions to be made, there is a lot of money on the line, and it’s something I had never done before. Beginner’s Guide to Wholesaling Real Estate One of the biggest questions I think people have when it comes to real estate investing is how to get started. It should be noted on your contract the buyer’s name as ABC Wholesalers and/or Assignee. Becky,
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