30 Days Quick Cash Formula

Does anyone know...

Are assignments allowed in Colorado?

Besides CA, in which other states do you have to get creative to do wholesaling?

Thanks for any info!
Aniko

I appreciate the feedback, and I'll provide a bit more context.

A few years ago, I used to send agents a package that contained my business plan, my marketing plan, a work-up for a cash deal that I closed, and a work-up for a previous creative financed deal that I closed; most of them didn't read it. I learned that I was drowning them in a sea of information, so I had to pare down my message to the bare essentials. "I'm looking for some deals, and wondered if you have anything to sell."

I followed that up with Matt's "buy, fix, and flip . . . for $20K" script.

The agent asked me how I purchased my properties as a segue to ask me for a POF, and to ask me to pre-qualify with one of her approved lenders. She wasn't interested in my answer, and tried to cut me off before I got two words out of my mouth.

I suspect that you can tell the difference between a tire-kicker and someone who genuinely has questions. I can tell the difference too. When I sensed that she was a tire kicker, I decided to test a few of my rebuttal scripts on her before politely terminating the call.

Nevertheless, many agents--not to split hairs--would understand "flipping contracts" just as much as they'd understand "creative financing" or "multiple funding sources". If someone says or writes something that I don't understand, then I'll ask a question (or I'll Google it), and I expect that others will do the same.

Michael Jake is doing them in CO.

My husband put together the following sheet for our first locked up deal. Our plan is to renovate ourselves and rent it. But, we are going to market it to our investors too and if one of them swoops in and wants it, we will go that route. Anyway, feel free to give feedback. -Susan

http://www.postlets.com/repb/6218399

Thanks for the info dp!

Any agent who cares about their time would ask for funding before they lift a finger for any 'investor', but I think telling someone they flip might come off more stable and illicit less questions than the 'multiple funding sources' script; I know for me it sets off alarms.

Just trying to make life a little easier for my fellow DGers

I haven't used this company yet, but check out www.instantinvestorfunding.com.
Their fees are comparable to Coastal and you can't print it out. It goes directly to the realtor or the bank, which in my opinion leads to greater validity. Just my toughts.

Ogal Gaines
LAGO Acquisition, LLC

Hey everyone my agent started putting offers in for me this week. I'm starting her with 10, then going to work her up to 25 during the next couple of weeks. AS Greg Murphy said, work them up to 25, dont start making them put 25 offers at first. Well my agent text me this morning and ask me for my address and social#. Stating she needs it for offers on HUD homes. I didnt know that I was submitting offers on HUD homes. Could HUD homes be assigned? And Do i have to give her the correct address? I'm renting a apartment in a 3 family house in a somewhat bad area. I dont want her to think, i dont have money because i dont live in a house or because i live in a bad area, she might think I'm not a real investor! What should I do? Give her an fake address? Or give her my real address and say I own this 3 family?
Someone help me , I dont want to mess this up with my agent.
Thank you

Hey Susan I like the way you presented you deal on a website, I mean everyting was perfect except the for the video tour was a little blurry. Well I would like to know did you guys pay to have you website made, or did you go to the site where Dean suggested to go and get it for free?

First, thanks Ken Siew for your explanation.

Ray1987, you may want to get a PO Box to do business with. That is what I do.

Yesterday, I had a bad day when I had the bright idea of calling people in my local paper that had properties for rent. I was thinking they may want to buy some property.

The first guy didn't bother to call back.

The second guy didn't want to give me his name and was rude and abrupt. When I asked him questions he snapped at me. When he said he wasn't interested in buying I hung up.

The third guy got after me because I didn't introduce myself and he would only give me his first name. He insulted me because I don't have properties at this time but I asked him would he be interested when I do get some properties. He was insulting and tried to make me feel I was a poor business person and didn't know what the #&*! I was doing. I hung up on him as well.

I don't feel I should have to put up with jerks like that. I hope to get some pointers from others that can help along my way even though I have gotten some but no one is really talking about rude people they encounter and I need some suggestions on how to work with them.

It may be because of where I live, I tried to get into the RE business a few years ago and when I tried to put up signs for buyers, someone would come and rip down the signs. I am considering getting started in a different community or work with someone that has buyers already. Anyway, would appreciate some suggestions.

I have used this one, too, but I do not like the way it starts the letter with..."Ladies And Gentlemen,"...

I think that they could have used the name that you type in for the lender heading at the top of the page.

Theo T.
CogniWorld-LV

Joyce,

May I ask what your script was when calling those For Rent ads? Just curious. I may have some suggestions if you want, but I don't want to repeat something you may be already doing.

Thanks

Hi Ray,

I believe that HUD homes can be "assigned" if you are dealing with the owner...and not the lender...but I also think that HUD homes have a 'seasoning' of 60 days by the new owner as a part of their acceptance to sell it to you. I would ask your Realtor about that before you proceed.

In so far as your address goes, I would not try to lie if I were you. A Realtor can check records of ownership just like you can at the county assessor's office and the Realtor will know that the owner is not you.

While (P.O. Box #'s) have been given a very bad reputation by many scammers who want to hide their identities and addresses in the past. You can use this method and you will find mixed success.

Or, you can tell her your real address and explain that you use it as your 'home office'. If all 3 of the family units, of which you live, share the same address and are then followed by a letter like (Unit A, Unit B, Unit C) you could just make it (Ste. A, Ste. B or Ste. C)...

example: (10200 Abc Street, Unit C) could also be (10211 Abc Street, Ste. C)

I live in an apartment community and I use this method. The postman has no problems with delivering my mail Labeled (Apt. # 103) or (Ste. # 103).

Theo T.
CogniWorld-LV

Joyce,

There are people out there who will tear you down no matter what you do. Just know that they are probably not the people you wanna work with anyway. If you were polite, they should be. Otherwise, how you gonna strike a deal with a guy who insults people all the time? We're doing this to find our freedom while loving the journey, not to live a miserable life after all!

Just know that you're doing the right thing, it's way better than taking no action at all.

Anyway, if you haven't already, listen to the For Rent Ads Script by Matt in the Human Automation Network section under Bird-dog. Just listen to the audio.

I called tens of them, most went to voicemail and never called back. Some were not interested, some wanted to sell. I need to do more of this to find more buyers, it's just something that's uncomfortable to do yet effective if you're persistent.

-Ken

Like Mouse2106 said, I would have to see what your script is like to be able to give any pointers on speaking to the landlords. That is what's known as a cold call and in the sales world is far tougher than a warm call such as when they are calling you. I personally like to use ghost ads to generate warm calls. This way you can use the property description to target buyers interested in properties that you can get good deals on. For example, I need more buyers willing to do deep rehab. Most of my buyers want cosmetic fixers. This minimizes the properties I can flip to them. So I can describe "Handyman Special", and "Sweat Equity", or "Cheap House, Needs Work" and such in my ads to get those investors calling.

Oh and the bandit signs, that's typical for them to get torn down. Very rarely can you leave those up for long. Some people put them out in front of businesses on Friday after 5:00 PM and pick them up on Sunday evening. Another tip is placing them where they are harder to reach. There's even special staplers with 3 foot long handles for sale now for this purpose. You can put them high out of reach. Just be prepared to get phone calls from local authorities warning about ordinances against these signs as they seem to be technically illegal in most places. People still do it though and some get good results.

Oh yeah and I also agree with everything Ken said as well.

Best of luck to you.

Steve

Thanks to Awaterloo and all the others who have posted this is a great string. There is so much to read so will have to come back to it.

You don't need a script to handle rude people. Instead, take a pause to gather your thoughts, smile, and thank him/her for the feedback. You'll catch him/her off-guard.

I'm experienced, and I've also been on the receiving end of some harsh criticisms. Once, after having been insulted, I thanked the guy for his feedback. The guy got even more irritated, because he thought I was so ignorant that I didn't realize that he had just insulted me. So he asked if I realized that he had insulted me. I told him that I did. He asked me, "So why did you thank me?" I told him that my parents and grandparents taught me to respect my elders.

The conversation changed, because I "killed him with kindness", and then we were able to discuss other things--including some deals.

I've called several people in the past, and completely forgot whatever I was supposed to say. I've also lost my place in my script a several times. Whenever that happens, I tell the truth, apologize, and explain that I'm that "IT guy" . . . I rarely have to finish that thought. (The implication is that I'm not the best communicator.) Sometimes, I've received a few chuckles, and some people shared their fumbles with respect to technology (my strength). We're human, and we have to go with what we have.

Don't worry about using the magic words. Read from the scripts until you feel comfortable conversing with the other person. Master the material to the best of your ability, and then just be yourself. Andrea, Greg, and Matt all have completely different delivery styles. Be the best you that you can be. I know that might sound cliche, but it's also true.

No matter what other people gonna tell you, you have to focus and follow the direction you are going.
The system is already here, you just have to follow the steps and when you are persistent and consistent, you are gonna be successful.
Of course, calling for Rent signs is something new and scary in the beginning, but after a while it's gonna be your second nature.

I'm actually doing it right now and calling we buy houses signs and ads.

Good luck!

Dennis

Hi DG family, just wondering if anyone has dealt with this kind of response before. I called a local realtor's office and a Remax, the receptionist for the local office responded that all agents are work with investors. At a loss for words, I thanked her and hung up. The person who answered the phone for Remax turned out to be the broker, because after asking the initial question, "Do you have anyone available who works with real estate investors?", she said, "All of them". Again at a loss, I said, "Okay, which of those agents is the top agent working with investors right now?". She said, "All of my realtors is top realtors". I didn't know what to ask next, so I thanked her and hung up. Should I call all the realtors personally and go through the script with them? I'm just thinking about what Matt Larson said about having the receptionist recommend someone for you to save you from wasting a lot of time. What should be my next question with a response like that? Ask for a realtor that is just starting out in realty?
Thanks!
_________________________________

Great deals are never found. Their made.
Good luck to all pressing on for their first deal!

HUD homes are part of the REO's on the MLS. if you are making offers on HUD homes, she does need your true address and your SS#. it is required and everything has to be exact and correct. otherwise, your offer will be rejected, even if it was originally accepted. hope that helps.

unfortunately that is real life. dp2 said "kill them with kindness" and my mom taught me that all my life and demonstrated it. she could make a friend out of anyone. it might be hard to swallow the rudeness, but i always try to remember that i might be the only "nice" person in their day. i would just say "thank you for your time. goodbye." when i worked for a title company years ago, a lender called and told me to get off my lazy a$$ and do what he told me to do. i very nicely told him i was hanging up and when his attitude was better, he could call back. that was a topic of conversation for a month, and even my boss's son-in-law heard it. just because someone is rude doesn't mean you have to be too. be your remarkable self and surprise those nasty people!!

looks like a nice property! looks like a nice deal either way. i see you're in OKC. i lived in Broken Arrow for years and my daughters live in Bixby and Owasso. i just got back from there when my son was on leave from Afghanistan because OK is home to my kids.

Rudeness is a part of the game. You've got to have tough skin in this business.

You'll bounce back from this fine Joyce.

Its only personal when it gets to the point of business and things don't go the way it should.

Hi Aniko:
I just printed out my Coastal Funding letter and see what you mean. My suggestion (and what I plan on doing) is to scan the letter into your computer and edit it in a word processing program. This way, you can delete the printing times, stamps and whatnot. My only concern is that if agents know about this company, wouldn't they expect to see these stamps and links? That's my only concern at the moment.

Anybody have any experience with this?

Andy Sager
DG's AndyS

Hi, I work with an investor-friendly agent who was willing to try the 25:1 system - submitting offers on MLS properties (primarily REO and short sales) at 65% below ARV. I told him that the system works and he needs to stick with me. After 30 rejection without even one counter offer below listing price, the agent starts to question the system and told me that he will need to move on to more productive activities unless he see prove that the system is effective.

How to respond to that?

P.S. The properties I submit offers on are in Stockton, CA.

pdqservicesinc wrote:

unfortunately that is real life. dp2 said "kill them with kindness" and my mom taught me that all my life and demonstrated it. she could make a friend out of anyone. it might be hard to swallow the rudeness, but i always try to remember that i might be the only "nice" person in their day. i would just say "thank you for your time. goodbye." when i worked for a title company years ago, a lender called and told me to get off my lazy a$$ and do what he told me to do. i very nicely told him i was hanging up and when his attitude was better, he could call back. that was a topic of conversation for a month, and even my boss's son-in-law heard it. just because someone is rude doesn't mean you have to be too. be your remarkable self and surprise those nasty people!!

A long time ago I worked in a shop with an older guy that was very gruff and intimidated all the other newer/younger guys. I noticed he only had two people he was social with, one being the foreman. Now I should say that I don't intimidate easily, but I just approached him with the same polite and upbeat demeanor as I did anyone else. I acted as if I was completely ignorant of his status and image around there. He was dumbfounded and completely thrown off balance when his rude, insulting remarks failed to have the expected results. I even made attempts at humor with him. By the third day of this I actually got a smile and a laugh out of him. By the next day I was a member of his inner circle. From then on everyone was amazed at how the hell I did that. Fortunately it encouraged others to try and maybe he even softened up a bit on them.

The point being that I don't allow others to control my behavior towards them or to bring me to their mindset. Sometimes they come around and sometimes they don't but either way I give them the chance and I keep on being me.

Thanks Linda
Steve

Hey, I believe the 25:1 system starts with 50% below ARV. But that's alright since you'd already done it. 65% might be a little low, just go up to 50% and you should see some activities. If the agent doesn't wanna do it any more, on to the NEXT agent!

Even though Dean and other DG superstars have been asking us to find buyers FIRST, I didn't quite 'get it' until these few days. I knew intellectually, but now I'm actually seeing a lot more deals out there than there are buyers. The wholesalers are great at locking up deals way below FMV, but they struggle at the other half of the game - finding the buyers.

As a side note, remember to be upfront with your co-wholesalers how you gonna split the fee for current and future deals. If you're not comfortable with an arrangement, be prepared to walk away. Fortunately, the ones I'm working with seem to be in the game for a while and I don't think they wanna risk ruining their reputation. Foolproof? I doubt. But it should get me going for now

I'm about 45 days into RBBP, haven't closed my first deal yet but I can definitely smell it getting closer. But never, ever let life suck you back in! I still review my why, goals, and purpose every time I feel like giving up. Things are good and I'm getting comfortable, but I know I can do so much more. What's worth the price is always worth the fight!

-Ken

Ken, as you have mentioned it is difficult to find buyers. Based on the info from Dean and others, I mailed more than 65 envelopes to the so called buyers after I traced their addresses from the County Tax Assessor. What I got as a response so far is 5 returned envelopes. But I am getting some cash buyers in my area by calling them directly after identifying them by using Google. Browse for "WE BUY HOUSES" in certain city or state where you are focusing and lots of their company names or websites including contact numbers will pop up, then call them to sell your unique strategies that are told by Matt Larson.

Good Luck !

Mr. G

If you follow the 25:1 strategy, Matt says that if it's not working, you should tweak your offers to get that result. If you're getting more than 1 deal for every 25 offers, it means your offers are too high. On the other hand, as is in your case, if you are not getting any deals from your 25 offers, then your offers are too low, so you need to adjust your offers or find other properties where you still make a profit, and you do get your offers accepted.
Look for properties from motivated sellers; they will be more inclined to accep lower offers.

Wishing you success,
Valerie