Hi Everyone!
I just wanted to put out a little post today to update you on my progress and to also give you an idea of where you can be in a few short years.
Hi Everyone!
I just wanted to put out a little post today to update you on my progress and to also give you an idea of where you can be in a few short years.
I sent out a batch of owners in my local market.
I spent about $1,000 in postcard marketing.
This seller left me a message saying the property was not for sale but he just inherited a property out of town that he was selling (timing is everything).
So I called the seller to get some information on the property. It turned out it was a 3 family property with two tenants in Philadelphia, and there was a $140k mortgage.
He didn’t know a lot about the property, but he did tell me that he was talking to someone else who was also interested in the property. I told him I would do some research and get back to him.
Finding Buyers:
I like to go to google and type in:
“we buy houses” + Salt Lake City, UT Obviously you would use your own city and state
“we buy ugly houses” + Salt Lake City, UT Obviously you would use your own city and state
“lease option” + Salt Lake City, UT Obviously you would use your own city and state
Craigslist- Go to HOUSING tab for your city, and type:
We buy houses in the search engine or lease option for lease option Sellers
Call these guys and say exactly the following:
SCRIPT#1
Hi DG family! I have on my hand my FIRST co wholesale deal. The guy I did this with had a short sale under contract, I had the buyer. I did a comp report I prepare for my buyer's list and ONLY gave it to my best VIP buyer. He signed the offer and is sending over his $10K non refundable EMD right now. Easiest deal I've put together yet as all my other deals involved rehabbing and /or lots of paperwork.
UPDATE: Well, its turning out to be a lot more complicated than originally thought. Buyer wants to switch the buyer name and this is a short sale. Seller is LIVID and wants to cancel. This isn't like this buyer, but its about to get complicated!
This still has to close; but we should be closed before the 12th of September.
Wouldn’t it be nice to be able to look at a map and see all of the FHA, Fannie Mae, and Freddie Mac REO properties in one place? Well, it’s new and still developing, but HUD is doing this at
http://www.huduser.org/REO/reo.html.
You must create a free account to access the site data, but it’s easy and fast.
You are able to designate by drawing an area on a map the neighborhoods you want to track. Once you draw out one or more areas, you receive, within 24 hours they say, a PDF in an email with all of the REO properties for the three big players in the market.
I haven't been posting as much as I have wanted to lately, but I have been insanely busy out there in the trenches of my real estate market. I have met some new partners and we are totally taking the Philadelphia area by storm!
I had my biggest month ever in wholesaling recently and I wanted to share it with all the DG members to show them what is possible. My story is on deansmedia.com (dean's testimonial website) so you can check it out to see where I came from and how hard it was for me to get to where I am now. I am very sick with Ulcerative Colitis and Crohn's Disease, but I did not let that stop me from my accomplishing my goals and dreams.
I now have a goal to gross $500,000 in total profits by the end of this year!!