Experienced Wholesale Investors, Please Help Me Get Over the Hump

to market and let the wholesalers come to you. I have not made my first deal, but I have a lot of success with people coming to me, just from my bandit signs. Seems like the coach should guide you so you won't feel scattered. I just don't understand that.

I'm not sure if you're speaking of this but the RE agents send me the list of homes that have been sold for cash for the last 6mths. I then take the list and find the names that appear more than once and compile a list of cash buyers. I then sent a letter and have received emails and calls to be on my buyers list. Again, I'm not sure if you were speaking of this but that is what I use an agent for besides the 25:1 stategy. It lets me know who the real players were in my area.

My enthusiasm right now is at its low. I know that is not a good sign, I trained myself to keep motivated and focused, and without enthusiasm it's no fun anymore.
I started back in mid February, I attended a 3 days seminar, I gave away half my remaining savings. I am retired and I live on SS monthly check. In the seminar I can see that the instructor are there to wet everybody appetite in making money in RE dealings, and in the same time are recruiting clients for other programs for another 3 to 25 thousand of dollars, booth camp and other similar hands on training programs. I recognie its not a lot of money for what we will get if we succeed, after all the colleges and universities are charging more for even less!
But I did not had the money, so I settle for a course of study in PMI,and then for the EDGE's Webinar. I paid with the reminder of my savings, all gone. In accademics I am very good, I learn quickly and I like and understand the material well.
My problem is to apply and take action on one side, on the other I want learn more of everything and I get side-bounded, so to speak. One webinar after the other for other's programs teaching other venues. As usually the more I learn the more I know I do not know.LOL
Another reason I feel stock is because my PMI personal coach decided that I do not need the weekly phone call from him anymore once I joined a local investor's group and I got a couple realtors sending me properties list. Kind I grew despondency and lost my enthusiasm. The only thing that keeps me going is Dean's videos. Dean has what it takes to keep my hope high and regain the fun.
May be I will feel better now that I said it!
Cheer for me fellows, we are in it together!
Thanks
Anthony LoGrasso
Where I am not the Light is missing, where I am Love is born. That is from Puccini, I Pagliacci

If this is what you are trying. You want your agent to set you up with the MLS automated email in whatever county you are working in with filters for:
as is
reduced $
SFH in HOT market or zip code
3b/2b
handyman special

You will offer about .65 on ones that have been on market for a few months.
Hope this helps
Donna

I'm enrolled in the inner circle and have yet to make my first deal (I'm on week 4) however, my coach has me building a buyers list, actively looking for motivated sellers, and he had me look for an agent. I got the agent and oddly enough the deals she has sent me are really workable. I'm currently doing a CMA on one property that I have the potential of making $10K on, I also have a potential buyer for it already. I do agree that you should be actively seeking motivated sellers, my coach has me doing both and so far it's working the way I had hoped. I recommend calling the help line and discussing it with someone there, and explain your concerns to them. On a side note, the commission to the agent is paid by the seller, not the buyer. Hope this helps a little, Jean.

RE agents are a diamond in the rough. I think it was in Dean's Your Town book where they touched on having a seasoned real estate agent in also a beginner real estate agent. The seasoned agent will know how to get things done and the beginner will be eager to making money in real estate any way possible. Both will be open to helping you in order to make money. My beginner agent will give me info on homes in preforeclosures such as comps and will let me know if they listed recently to help me put together an offer. On one occasion he brought me a home that had listed with him and it had a few weeks before the foreclosure date, but they went through a realtor as a last resort-it would've been a good wholesale deal, but none of my buyers really deal in that area of the property. My beginner agent event let me see another investor's subject-to contract without me asking so that I could see how to structure those types of deals. In my opinion, an agent is a great teammate.

I don't know what to say folks....My coach has not encouraged me to do the 25-1 strategy or to use bandit signs. I was directed to place ads on the internet to build my buyers list and then ads or phone calls to real estate agents to find an investor friendly realtor.

I don't feel comfortable with the process so far and it really doesn't make sense to me. I will make some calls to the Coaching Advisory Line and again share my frustrations.

It seems like there should be more clear systems in place.

Anyway, I don't feel like I know what I should be doing and I don't think that I should feel that way. It's frustrating when you spend almost 6K on coaching and don't feel like you're getting anywhere.

I will make this work somehow. I just need the right direction.

I don't have a deal under my belt yet, but I'm closer than I've ever been. Why? I just found my real estate agent. I was beginning to think like you when I couldn't find one that really knew what I needed from her(him). I was going about looking for FSBO, which takes gas and time! I made offers on 5 to date and only 2 right now are still under contract. Enter investor friendly REA. I found her at REMAX and she has been in business for over 20 years and deals with investors a lot, so I thought, okay, I'll give it a shot. At first she sent me all properties under $110,000 (don't know where she came up with that). Then I sent her an email telling her that of all the properties she sent, only 2 met my criteria so I repeated that I only was interested in as is, vacant, reduced, motivated sellers, etc. So the next list she sent me was just what I asked for. I met with her today and signed 10 of the 25 offers. I also signed a blank contract that she will use as a template and then she will send offers on the rest of the 25. This means I can make offers by email and she can send them by email. She told me she understood exactly what I was doing and said she didn't expect to get many offers accepted if any, but she said that's fine. She had put $500 earnest money on all of them, but I took one check for $10. She said no problem, she would change the amount. She understands that I will pass them on by assigning them or doing a back to back closing. I told her that I felt like she was an angel from heaven and that I had had trouble finding an agent who didn't want me to sign an exclusive agreement with them. She understood that also. She knows I will be working with other realtors. I said all that to say this. When you find the right one, she will send you multiple listings that you can work with and this will save you a lot of time. So my opinion has changed about having a REA. She fills out the contracts, makes the offers, and then sends you some more. She has contacts that you can use and will find comps for you anytime you ask.
Shirley

I think all of us are overwhelmed at first. And I've been where you are... financially and emotionally. I just recently in the past few months said, heck, you can do it girl! If you get on these forums, you will learn a lot each and every time just by reading other people's questions and answers. You can also ask any questions on here and anyone who knows the answer is always sure to help you. This DG family is really like family!! Everyone wants to see you succeed and will encourage you. Just take one day at a time and make a to do list everyday and then check it off when you complete it. That way you will actually see that you are accomplishing something everyday, even if it's just to re-read something that you've already read. The more you take action, the busier you will be and the more you will learn. You learn a lot by just doing it!! I'm a hand on person and I learn best by doing it. Just hang in there and your enthusiasm will return.. I just know it!!
Shirley

Also, you do not pay the REA's commission. The seller does.
Shirley

I really appreciate your feedback. I am at a place where I am questioning if I'm on the right track. There's no doubt in my mind that I will be successful with rei. Several years ago when anyone could get financing, I purchased 6 homes. I still have 4 of those homes as investment properties. I am back in the game and felt the best way to get into the game was to have someone lead me through the process. So I signed up with the Success Academy.

There is no doubt in my mind that the coaches are successful investors with a wealth of information. And I have always been impressed with their professionalism and knowledge when I call the advisory line. I was just not sure if wholesaling was the right direction for me.

I like your suggestion Shirley of making a to do list and checking it off. Something that simple could help with my scattered feeling.

My realtor and I will be making an offer today or tomorrow on a bank owned property. It will be going to the Sheriff's Sale soon so may be a good time to make an offer.

I did meet yesterday with another cash buyer that sounds promising. I'll continue to take the action and see where things lead.

Thanks again for all of the responses!

Brian

Hi Brian,

Before I respond at length, please let us know how you are doing. I just saw this and it's a bit aged.

Still looking for pointers?

I've done a few deals, wholesaling REO's and FSBO's.

Tina

I'm with Tina, let us know were you are and we can help you on your next step.

Mark Hanrahan