Got Questions? Carol Stinson's Wholesaling Q&A.

Hi Carol,

Last year I purchased Dean's program and became sick and have not been able to begin my business in wholesaling until now. I am starting today and a bit nervous.

I have been reading that their seem to be a shortage of homes available for purchase in real estate in today's market. Do you foresee that the wholesale business is still viable for me to begin in today? Should I read this book twice before I start looking for properties and buyers.

Thank you so much for this forum and I will pray for your continual success.

Just wanted to say thanks for the info. I am just getting started. I have been reading and watching videos like crazy. I think I have found an agent.

Thanks,
Carla

freeindeed wrote:

Ok I have a secret to tell... If you go to my website and scroll over the "site map" tab. You will see a page for ghost adds as well as some others.
I know this is an odd place to put them but I don't want the whole world getting my secrets, just my DG family. I get so many hits on my webpage a day ( I am now he second page on google yey!) I needed a place for you guys to be able to get to the stuff you needed without blabbing it to the world. So I hid them there... shhhhh!

Hey Carol,
Do You Still Have These On Your Web Site? I Tried To Find Them But Can't.

Carl

HI Thanks for the Q&A I know this going to be a silly question and if I am a member of this forum I should know the answer so here goes lol.... I have been reading here for a few days I am interested in starting with wholesaling.. can you provide me with a clear and simple definition of wholesaling and flipping or are they the same thing thing.

Michelle

Hi Carol, I've been trying to get my first deal done in the past year, I almost had one done but it fell through and I think I kinda got discurage and lose focus. I've been neglecting my real estate careea for about 2 months now, But I'm back and want this bad. I wanted to ask you, has this happen to you before and if so what did you do to bounce back? I know I just need to complete my first deal and I would take off like a rocket. How long did it take you to complete you first deal? What's the best way your building you buyers list?

Carol you have inspired me with your story on how you made it in this buisness. I hope your still doing good and keep feading us this good information. As for me, I cant wait to be in your shoes. I'm hungry for success!!

Take care and god bless

Reynold Orozco

Wholesaling is still alive and well in the RE world... The problem with today's wholesale market is that with so many foreclosures and short sales on the market the "retail" properties are now being sold at "wholesale" prices so we must be more diligent in our search for good deals. I do feel that estates have worked best for me recently so maybe focus on probate properties.

Hi Carol,

I was wondering what is the difference between bird dogging and wholesaling?

I know you work from home. When a seller agrees to sell at a certain price and they don't have a fax machine do you send the contract by snail mail or do you email it.

Thank you!
Carla

My dear Carol, thank you so much for starting this for all of us. I will definitely come and visit on a regular basis for you valuable advise on wholesaling. My goal is to master it and my first deal so I can be Dean's student. Again thank you
Vida

stinson

realwholesaling

Hi Carol,

I hope you are doing wel and had a nice Thanksgiving. I know you do so well with shadow inventory, I was hoping you may have some helpful advice.

I will be calling the small local banks and credit unions. I will ask to speak to the branch manager and inquire about property they want to get rid of.

I am thinking it can't be that simple. Anyway, if you have some additional advice with regard to dealing with banks and getting property before it's listed I would greatly appreciate it. I hope to get my first deal done soon!

Thank you,

Greg Avak

Hello,

I would like to ask you about bandit signs. I just put up some signs, but I am not sure if I should keep them or remove them. I live in Orange County, CA and I am posting them on a busy street, but this is the first time I do this.

I read that some officers might remove them. Do you think they will fine me? I was thinking posting them on Friday and removing them on Sunday is a bit too little time.

Any suggestions?

Thank you,

Sam

Hi Carol,

I am new to the wholesaling investing game, my question pertains to earnest money, I am trying to bid on HUD homes in my area through hudhomestore.com, I have an agent to put the bids in for me, but my only concern is that I don't have the earnest money or cash period to do these deals, can you recommend a strategy for me to get these properties with no money out of my pocket. My exit strategy is to flip them to a buyer(which I don't have yet)or buy and hold for myself. Thanks for your help.

Shawn

Hi Carol,
I have been trying to build a list of buyers but so far no luck.I have used Craig list and all the others that I could find to put in free ads,even did the the bandit signs and still nothing, went and got names of people that have nought houses in the area got there address and sent out post cards and nothing. I am looking for buyers in Florida and Mississippi any ideas?.
Thank you..
Jimmy smith..

bump

.

Where is Carol?

I saw that this thread had been revamped, it's been dormant for a while, so I came in and looked at the last post and saw "WHERE IS CAROL?". Made me feel lost or something lol

Anywho here I am and if you have questions for me then BRING EM ON! I will check in regularly to answer them

Thank you for what u give.It's so kind of you to take the time. I've been away from here for a bit (anyone can check my blog), but been back a couple of weeks....Do u know about notes - I know some, but not near enough.

Have a gentleman, A FSBO, who wants to sell 3 notes - he would even do a package deal.

This is what he told me he does:

Buys a property--by signing a note.

Then he leases it straight -- $1200-1400 down, 1200 or 1400/mo. for 10 or 15yrs(that's when term is up).

Sometime between the present and that 5 or 10yrs- he sells the note at (what he calls) a huge discount.

Example: He has a note on a prop for 44000. He gets 1200/mo for it. The person living in it has been there just over a year.

If you don't know about these....I thought maybe you might know who does...

Again, THANK YOU,

ERSIE

I want everyone to kill it this year! So I am opening up this thread again to see where I can help you crush it in 2014!

You have been a hero of mine ever since I first started with back in 2010... but... I have yet to make a deal. This year will be my year! and I hope someone else's I have a friend ,a very close friend who like me is struggling financially. But.... She has stage 4 cancer and a 15 year old son. She has gotten wrapped up in the government system and believe it or not still works 12- 18 hours a week between treatments and raising her son. I am also struggling to get by while working at Wal mart and taking care of my 80 year old mother. Between my friend, Karen and I. We barely make it her on food stamps, Medicaid and Medicare along with assistance on housing and me on just what I make at Wal mart . I want for both of us to join forces and break free of this life but she fears the lose of her government support on which she survives for her 2-3 times a week treatments. What I would like to do is to get out there and find houses in our area (Drive-by) and for her to set up the business in such a way online as to market these units for buyers (which I also line up). She does a lot of work online now and knows, very well, the basics of Bookkeeping. But she is afraid if word ever got out that she would lose her current income and support. I am sure as a mother of a handicapped child you would understand this and be able to point her in the right direction and help her to arrange finances between us. That she would be able to manage this and eventually work from home as you started out. She is new to this and like many others has been brainwashed to believe the government knows best. What I would like from you is to point out a place for her to start and see the possibilities of the life you now enjoy. Her main limitation is her energy level (usually runs out by late afternoon or early evening) and her need to get treatments 2-3 times a week at the local cancer center. She has cancer on the blood and Bone and while the cancer of the blood is in check The cancer of the bone has been active and the doctors are helping her to fight this now. I only have diabetes and I am not handicapped in any way except for the insulin I am on. We are both fairly well skilled on the computer and are acquainted with the basics of Real estate. I was a real estate agent here in Florida a couple of years ago till the bottom dropped out of the Real estate market. I was thinking of getting my license back and this is what Karen favors as she worked as a secretary for a local Real Estate agency about 10 years ago.
Anything you can do to get us both off together in the right direction would be immensely appreciated. Thank You

I am so sorry to hear about your current situation. I know what it feels like to think the world is stacked against you. But you are fighting back and that is the first step in gaining freedom!

My suggestion for both of you would be to gain as much knowledge as possible as knowledge is power! Once you have knowledge you will have the power to push through the obstacles and make this happen.

I suggest that you start by reading as much of Dean's material as possible. His newest book " 30 days to real estate cash" is awesome and jammed packed full of techniques and strategies to get you making money.

His book " Totally Fulfilled" is being offered free here on this website. I suggest that you both read as it will empower you to begin your real estate journey.

It will take time but education is the key! Once you gain the knowledge you will know what to do from there.

I will be praying for both of you

Hi Carol!! Im ready to go! Whatever it takes.... I have set a gal of completing 4 deals a month by 6/1/14. this week I noticed that by increasing my I buy Houses ghost ads from 2 small ads to 6 ads it really increase the number of calls I am getting. I got 5 today!! It funny how when you focus on something... things start happening.
I wanted to ask you how much investing/marketing do you do on craigs list?
Have a wonderful weekend

Hey girl it's nice to hear from you

I currently do not do any marketing on craigslist as I have automated my sources for deals and have built relationships with enough buyers that my deals move quickly. Craigslist is great for building this base but once you do it long enough and hard enough you eventually build your buyers list to a point where you have grabbed the majority of buyers on craigslit for that area through your ghost ads.

Keep going your doing awesome!

Hi, I'm Djell, and I'm new in Real Estate. I'm located in Philadelphia, PA, and I'm trying to make my 1st deal happen.
I would like to know if there is any body in Philadelphia area, or somewhere closer to guide me during my first steps? I really need to walk on somebody's steps at least for my first deal, cause it's a lot to overcome for me.
Dean said, we don't need money to become rich or make money, all we need is the Knowledge AND A Mentor.
So please, I need some help here.
Thanks a lot

Hello Frederick... I read this post and just wanted to say not only I'm sorry.. But, to say congratulations to the both of you as well... You are doing awesome taking care of your mother and kind of teaming up to make a good life for all of you!!!

Carol said to Gain Knowledge which YES is the number #1 thing to do.. You need to take time out DAILY and read everything on this sight!! However, you said you once had your RE license... If it is possible now (with say an income tax refund or something)... You should get your License back!! Becoming your own realtor is half of the battle in doing this whole Real Estate thing...

And once again... Congratulations!!!! keep going!!!!

Hello Carol

You have a lot of good info/idea of finding deals. I asked my agent to send me expired list and she did but it turned out nothing show up. Is auction another way to get a good deal?

Also, when you find a deal from a seller and put it under the contract, if it is remote city, do you use a agent to check property and do the paper work for you?

thank you very much

Rebecca

Hi Carol,

I just finished your "Real Wholesaling" e-book (and don't of any other way to contact you than this forum). I found it very interesting, but I'm still a bit confused about how one can realistically wholesale WITHOUT LEAVING ONE'S HOUSE! Yes, I know that toward the end of the book, you do provide some good links, but I'm still not sure if I see how those accomplish everything one needs to do when wholesaling. For example, can using such sites really replace everything you talk about in Chapter 4? You even mention leaving for work 30 minutes early to "drive for dollars" -- finding properties that you can try to wholesale. Obviously, a website can't really do that. And once you find a property, what about the repair estimation process? Again, how can one do that without being at the property? And, if you do enter into a contract for that property, how about showing it? You also say "do not let a buyer go to the property without you if it is owner occupied." Well, how does one accompany a buyer to a property without leaving one's house?

So, again, my question is really how all of these tasks described in your book are compatible with not having to leave one's house. If you could possibly clarify for me when you get a chance, I would appreciate it. Thank you!