Contacting investors?

What the heck is www.****

Thankyou for the site,looks very interesting.You sure can
pickup alot of good stuff on Dean's website when you look
around.

The reality is that ONE good buyer can get you started. You could have 100 names on your buyers list, but all of them are tied up in deals or their criteria is too tight, etc. Verses having 4 buyers that will buy up just about everything you send to them.

So, the key is to find active buyers. One great place is your local REIA (Real Estate Investors Association).

Hope this helps,

You are So right! Think about 4 real live cash buyers that close on 4 properties each month!! You would need 16 wholesale deals a month just to keep up!!!! 192 deals a year!! At a fee of $3000 each that would be $576,000 a year!! What if your fee was $10,000????!!!! Now we are talking!!
Or If they only want 1 each a month. That is still 4 deals a month. 48 deals a year!! At $3000 each that would be $144,000 a year.

Scenario # 1 at 25 to 1 would require 4800 offers or 13 offers a day every day.
Scenario # 2 at 25 to 1 would require 1200 offers or 3.2 offers every day

So to make this work you have to have REAL CASH buyers AND the capability and systems in place to make multiple intelligent offers every day. (GET deals under contract that your buyers will actually buy)

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Hi, Michael, You 've said to make many offers...what do you do about earnest money?
I was so psyched after reading some DG blogs and went thru my list of houses and had decided I'm gonna take the plunge and JUST DO IT–make the a bunch of offers!
Then much to my dismay, I realized the sellers, banks included, will expect earnest money for EACH offer.
I was thinking prior to this that I didn't need any money till an offer was ACTUALLY accepted.
Would you please clear this up for me. I'm kinda bummed... TIA!

I make multiple offers every day with a copy of the same blank check. It's my lucky check!! I just print a copy of the blank check, fill it in with the title company or sellers name, write out the amount, note at the bottom what address it is for and scan the completed check and attach that along with my POF letter on every offer I make! I was having my agents fill out the signed blank check copy I sent them but I do it myself these days.

This check is meaningless and will not be cashed unless the offer is accepted!!

Now when the offer is accepted, THEN you do need to come up with a real check. Usually with in 48 hours. I have buyers in place that cover my earnest money check before it ever hits my account. NO MONEY OUT OF POCKET! After you have an offering system in place and you actually know how to get REAL deals under contract, you must have real cash buyers in place for this to work. OR come up with enough money to cover your earnest money until you get it sold.

Good Luck!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

When dealing directly with home owners you can make the earnest money $10. But when dealing with REOs you had better offer the earnest money they request or you won't have many offers accepted.

Thank you, Michael! ~Knew I could count on you!
I appreciate your straightforward, shoot-from-the-hip responses.