OfflineI got a new bird dog named Mike, he called on one of my bandit sign he seen while driving.
He said he was a cop with 25 yrs in, and was now a Sargent working the complaint desk. He wanted to buy some properties. He had also called several other bandit signs.
One of the other bandit sign guys name is Justin and he said he had a house on contract for 60K. Mike the cop calls me & we look at the property online and we negotiate this guy Justin down to 57K, I just got it sold for 70 frikin thousand buks. Starting escrow today.
Mike and I are splitting $13,000 dollars, the other wholesaler is making $7,500.
How insane is this? The new bird dog and I are making a shipload of cash for doing almost nothing.
As you can imagine, Mike and I are frikin excited as is Justin. The homeowner is happy to get rid of this junk property and put 50 Grand cash in his pocket and the end buyer is happy to get this 120 - 140K house (after repairs) for only 70K
Everybody wins on these deals.
What's really insane is, I havnt met Mike or Justin, I havnt met the seller or seen the house and even though my buyer and I have done 15-20 deals together I still havnt met him.
All this while sitting on my freakin ass at my computer and a receiving and making few phone calls.
This house or property is being wholesaled 4 -5 times, Justin, Mike and I, and my buyer is a Realtor that will flip it to the end buyer who will probably fix and flip it again.
Mike the cop was interested in buying these junkers to fix and flip. His hard money guy wudnt loan on this property.
I explained to Mike in the 3-6 months it wud take him to rehab these properties we cud flip 10 or more properties and make more money, less stress, no risk and a lot less work.
I think he's converted.
Let's cut the excuses and make some MONEY.....
Rando
Rando
Your doing great man!!! Talk about enough meat on the bone off this deal for 3 people to et off. Your creative deals inspire me to network more because it goes to show you that you will never know where your next smoking deal could come from. Keep up the good work
Reynold Orozco
The real question is why didn't I call the phone numbers on all those signs I have seen? And ask if they had any deals. How many more deals wud I of had?
I have the buyers, but not enuf deals. on this deal alone I would be making 13K instead of $6,500
But I sure will now. The other question now is, why are you not networking with these other wholesalers?
Rando
Just will like to ask u sum advice about finding Title Company
That does these Assignment of Contract closing as will as virtual closing
Where people could be living In a Different state and not have to attend closing
And still get paid after a deal closes. Can u recommend some Title Company‼️
Also how was this deal structure as far as paper wise.
Thanx and I look forward to hearing from u soon.
Totally makes sense. They may have a great deal, but no buyers(which is where you can step in)
Hey Jaydaboxer. I always let the buyer choose his Title company. One title co didn't know about assignments and I had to explain it to them, the girl was confused and asked me is this like a demand for payment? I said yes it is. After that it was a simple thing.
You know I give 5-20 buks to this homeless guy sometimes that hangs out near Walmart. He's not the typical druggie and alkie, this guy is crippled. I asked him if he'd like to make some money. He asked, what can I do? I gave him my card and told him to find me vacant boarded up houses. In the last couple of months he's prob sent me 20 addresses.
Well, I'm leaving in about an hour to get one of his houses on contract for $25,000 I ran it past my buyer and he wants it at 40K
How is this going to change Bill the Homeless guys life when I hand him a couple of Grand?
Rando
I deeply appreciate u responding to my question‼️ I have another question.
How did I go about handling the contracts for this deal.
You about to make $15K on a bird dog lead from a homeless man, plus you are going to make his year once you had him a couple of grand. Man I'm telling you, you have me thinking about going out tomorrow and building a Bird Dog army LOL.
Reynold Orozco