Am I WASTING MY TIME

If you are having no success with buyers, I would like to talk to you personally and see what adjustments need to be made. Buyers are all around us. We simply need to now how to reach out and find them. You should be closing deals if you are getting them under contract at the right price.

Take the time to call the advisory line. You can work with any of the trainers to get the help you are needing. You are doing the right thing turning for help here. The members of the DG family will help.

Best of luck.

What is the number to the advisory line?
Are they free?
They are not success academy, are they?

Call We Buy Houses Signs

Call All For Rent Signs

Ask a realtor for a list of all the cash solds in the last 30 days in your area. Take the addresses to the recorders office and look up the owners name and addresses for free or do it online if that is available in your area

Call all the For Sale By Owner ads on Craigslist. Chances are many are investors. Ask them if they want more property

Attend an investment club meeting and tell everyone you are a bird dog who finds awesome properties. Take their numbers, emails, and call them back to get specifics.

See any houses getting rehabbed? Stop by and introduce yourself. Get the investors information.

Run blind craigslist ads saying that you have investment property to sell and let the buyers call you.

Ask realtors if they work with investors and if so what do they like to buy. Get the realtor to be your advocate (I have a meeting my realtor set up for me to meet a $50 Million Dollar buyer)

Look in publications like Penny Saver and call the ads for people who want to buy houses.

Get free business cards from Vista Print that says "I Buy Houses" and pass them out to everyone.

Network with other wholesalers, bird dogs, investors and share any profit you could have with them if they find the buyer for a deal.

You can do it! Really finding buyers is the easiest part right now.

You ask " Am I waisting my time?" I think you are the only one eho can answer that question. If you ask that question to the hundreds of people here on DG that have closed deals and continue to close deals they will say "HELL NO!"

If your not getting deals closed there is only one reason... You are not getting the properties for the right price. Good deals close PERIOD! If you get a deal at the right price to be considered a "deal" then it will sell. The reason is not your buyers list as you can market a "good deal" on craigslist and it will sell without a buyers list. If the deal is good buyers will be all over it.

This said you must make sure you are making low enough offers to the seller. To many people are afraid to make low offers in fear of insulting the seller. IF YOUR NOT EMBARRASED BY YOUR OFFER YOU OFFERED TOO MUCH!

You must follow the offer formula...

ARV x .70 minus repairs minus your fee equals your offer. This is the formula that Dean teaches and it works.

If deals are not selling it's because they are not deals! Trust me I have wholesaled over 600 properties and I have learned this the hard way. I have wholesaled properties in states where I have had NO buyers list. I just put it on craigslist in that area and buyers were calling me. Because it was a great deal!

Think of wholesaling like fishing... the bait pulls in the fish, the better the bait the bigger the fish!

A property is not a deal until you make it a deal, you creat the deal. Try making lower offers and creating better deals... the buyers will bite if the bait is good

Your not wasting your time.... KEEP TRYING UNTIL IT WORKS!

thank you carol for the info.in this year what's the avg.time to get a property under contract?

I did talk to the agent and received the list of homes bought by cash in the last 90 days. But now struggling to get the owner's name and address. I tried to find the name by my county website and many of the addresses were the same as the home that was bought by cash and the names are displayed as Secured. Since I work full time, It is very hard to go to county office during business hours. Any help on how to find the names and address of the owner's who bought home by cash.

Thank you for your help.

Hey Kevin,

I know it's easy to get discouraged...BUT
just think about how awesome it will
be once you get that 1st deal under your belt.

There's a bunch of suggestions in the comments
above for finding buyers and also what popped in my
head is that I remember Dean (or Matt...it was
1 of them) that said you're offers should equal
out to the 25-1 formula. So if you're getting
lots of offers accepted and no buyers....
keep building your buyers list so you have a steady
foundation to sell to later on...yet make sure you're
still putting out offers that are low enough to be
awesome deals.

Besides, if the formula is 25 to 1 then think
about it like you've already went through 10
and if you go through 15 more you should have a deal.
The video I watched of Matt tonight said
to write down:
$20K/month = 25 offers/week = 5 offers per day
So depending how fast you're going you could
have your 1st deal in the next few days or at
least by the end of August.

Hope that helps, just REFUSE TO GIVE UP!!!
Life can definitely kick you up and down
and leave you stranded, but getting
back up and continuing on is the only way.

If you just keep going it will all be worth it.
Even if you had to go through 50...or even
100 offers to get 1 finished with no money down
won't that be awesome to finally have it *click*
in your mind that you can do it?
(& also having a check in your hand too!?!)

Anyway, push it to the limit and show me a check
here sometime soon - I would love to hear about
your success! God Bless [peace]

If you've been able to get some properties under contract, but don't have any buyers on your buyer's list, then you need to focus on building your buyers list right now, not on finding any more properties. Once you know what your buyers are looking for, then you go out and find those properties for them.
Sounds to me that you're already half-way there... You are able to find deals and put them under contract; now just work on the other half (build buyers list) and you will complete a deal!
You are not wasting your time if this is important to you...if this is what you want to do...

Wishing you success,

Hey, I am just starting..only been learning for almost a month now. But I will tell you this, if you haven't found buyers, then it's something that you are missing. It's not your fault...but if you didn't have a mentor then mistakes will happen. What you should do, is contact the first person that told you they would like to speak with you and go from there (Roy Voeks). Take that opportunity..because not many people on here get connected like this. Anywho- Also, make sure like Ms. Carol Stinson mentioned...make good offers...and if you need to, maybe rent a house out personally if you can..that will bring you cash flow! That's my ultimate goal..at least two rental properties to get started.

YOU WILL SUCCEED Just BELIEVE IN YOURSELF AND HAVE FAITH IN JEHOVAH GOD AND YOU WILL DO GREAT THINGS!!!!!!! Take the encouragement and let it be rooted within you!

Take care and stay blessed!

Hello everybody,

_I've just started, this is day one for me, Please send all the positive support you can spare, see you all again soon, TY,

No way are you wasting your time, you just need to find where it's not happening and make it work. Good luck

Okay, it looks like getting properties under contract is not your problem. So perhaps this is time to flip the process over and work at it in reverse. Rather than looking for properties - start looking for buyers.

Have you thought about helping buyers. You will need to play your hand well so that they do not mistake you for a real estate agent. Once you find a buyer that is looking for House X, you go out there with your awesome research skills and find House X and get it under contract.

First of all I would like to thank all of you for your encouragement and comments. I used the 25 to 1 method on most if not all of the offers that have been accepted. on average the ROI would have been 12-15% with 10-20K equity.
My frustration comes from buyers trying to pay a lower price than I have told them while at the same time validating the numbers that I have provided. The goal is to earn 2-5K on properties 100K or less. I try not to concern myself with anything else other then the numbers.
EXAMPLE PROPERTY:
FMV: 50.5K Contract Price: 35K Assignment Fee 2500 Asking: 37.5K Purchase Cost:38.6K assuming 3% closing cost
Prop Rent: 650 tenant will stay
Gross Income: 7800 Exp: 1153 NOI: 6647 CAP RATE 17% Property Equity 8-15K deal pays for itself in 6 years.
Why is this not a good deal. Please advise!

Kevin, Have you found out the repairs on the property? Have you advertised it as a Buy and Hold Deal with Net Monthly Income? (Rents minus what the owner pays to maintain property?) How motivated is the seller to sell, can you renegotiate your offer (IF you NEED to) in order to sell quickly? IF ARV= 50,500.00 then multiply by .70 or better start at .65 then subtract repairs, liens(ex:) assignment fee then--BLAST IT all over Craigslist, BANDit Signs in the general area of property!!

Send a Postlet Add to all your buyers list! List the Equity for Flip Potential and Stat CASH DEAL with 2k in Earnest Money to be paid to you upfront, this will eliminate all the others looking to wholesale your deal or joint wholesale it with a partner, he has the BUYER you the DEAL and Split assignment Fee 50-50

I have used many of your suggestions with much success!

In my state, California. I have to either have software to gives me the owners name and address like PropTrend or actually go to the recorders office. Either that, or you can get an intern to do it for you.

I think the hardest thing for all of us is doing the first step Dean talks about over and over and over cause it is the part that is most intimidating. BUYER'S LIST!!!!! So go back and read the book about how to develop your buyer's list. There are a bunch of ways, but the one that Dean and Matt talk about over and over is bandit signs. I know.....you probably just don't want to do it, but try it. One of the things we all like to forget is that it is pointless to make offers if you don't have your buyer's list set up. Because exactly what has happened to you will happen....you will get a property under contract but will have no one to sell it to.

Don't give up....just go back to the start and do the hard work it takes to get your buyer's list set up. Get 5 to 10 really good buyers on your list and then go find the houses based on what your buyer's are looking for. Each buyer has something that is their "hot button". Find out what that hot button is and then find the deal that hits their hot button.

Hope this helps!

To me what is more amazing is that you got 10 properties under contract. Buyers are everywhere, the most challenging part is to convince a seller to put their property under contract at 20-25% below fair market value....that takes more talent and skill than a buyer simply buying something that has already been negotiated down for him.

EXAMPLE PROPERTY:
FMV: 50.5K Contract Price: 35K Assignment Fee 2500 Asking: 37.5K Purchase Cost:38.6K assuming 3% closing cost
Prop Rent: 650 tenant will stay
Gross Income: 7800 Exp: 1153 NOI: 6647 CAP RATE 17% Property Equity 8-15K deal pays for itself in 6 years.
Why is this not a good deal. Please advise!

Kevin...Looks like you are using only 14% for expenses. Using 40% for expenses, I come up with a cap rate of 12%, 30% expenses yield a cap rate of 14%. You are light on your expenses. They should be 30-40% of gross rent. You need to get the buyers criteria before you get the property under contract, that way you will know if they will consider your price. For instance, one of my buy and hold investors has a criteria of rent at 2% of purchase price, cap rate more than 10% and ROI of 20%. So with his rent criteria (2% of purchase price), he would only pay $32,500 for your example property. The cap rate is over 10%, and the cash on cash return is right at 20%. But based on the 2% of purchase price, he would only pay $32,500 for this deal. Tighten up your numbers and know your buyers criteria going in. Just my opinion and I may be wrong.

I feel the same! There are a whole bunch of us out there but the buyers are big fishes who buys from big fishes as well. I have a great deal that I can't sell for one and a half month. It's very discouraging! So much money and expectations ... Frustration...

Don't give up! I have been doing this for a few years as well and have not closed on any properties. I have had several under contract and have co-wholesaled with other wholesalers. I will not give up and have no intentions of quitting! Suceeding is my only goal!

Hi Kevin look at all the great advice you have been given, take it and use it, awesome stuff and another thing that might help write down what you have done and then go over what you have learned through books, talking to others on here and you just might see where you need to improve, in other words write down what isnt working and write down what should be working and I mean get really into it all you might be suprised what you will see and learn and dont turn down the coaches offer either alot of experience there dont just look for the easly way out learn to never quit and learn to be a problem solver they all will bring you rewards and blessings, one cant fly with the eagles unless you flap those wings( our minds)and never quit, youll get there,much success, Jim

Thanks for all the comments! Glad to see and read all of the information. Lets keep the conversation going.

I have tightened up the numbers and gotten buying criteria from my buyers. The properties that I have are from sellers that want to sell but do not need to sell, they are investors looking to cash out and retire, they own most of the properties free & clear with long term tenants. They have not been interested in any type of owner financing so I am forced to wholesale as far as expenses are concerned I use exact numbers for taxes & insurance and I will usually add 150 -200 for misc. expenses. When I do look at other types of properties the formula that I use works well, for the most part the properties I have had under contract have sold for more than the price that I had them under contract for and the price I was asking

Keep the conversation going because I think this is helping more than just me.

Since Dean just attended Tony Robbins in CHI I will end with Tony's saying

"LIVE WITH PASSION"