Made an offer on a property that was sitting on the market for over 150 days, agent said our offer was rejected and hasn’t answered since.
Property just came off-mkt yesterday, contacted the seller today and he never even received the offer
Unbelievable
Never really share my wins but the past 3 weeks have been decent
I still see it all as underperforming, as I’m always looking to do more
Lots more to do….
Would you believe me if I said this was a bathroom in a million dollar house?
The sellers husband died 10 years ago and his beard trimmings from his last shave are STILL there…
Current novation deal we’re working 😷
FINALLY got my first seller finance deal under contract
$10K Down
0% Interest
30 Years w/15 Year Balloon
Deal is already sold on the bright side, but a long way to go, to get as many of them as I’m going to need….
Seller lists property for 4 months, couldn’t sell
Seller lists property again $40K higher than before because of a “local agents analysis”, sitting on market for over 30 days once again
Laughable
On a mission to become one of the top RE Wholesale companies in the nation
Hopefully I can be at least 50% of the way there by end of 2024
It’s my 1st year in the game full time currently
Have a situation where I have a property owned by 3 siblings. Two of them want to sell and one doesn’t.
If the two can’t afford the legal fees to contest it, what’s the next move?
My thought is buy out the two owners and contest it ourselves against the third?
Free game - For some reason this follow up text has a 90% response rate.
"Hi! It's _____, I'm assuming you got another offer or were abducted by aliens. I hope neither to be honest! Still on the fence about selling ____?"
@Onechance65_
@mikemajlak
Nah he’s right I’ve been in the scene in LA. He’s on point. Their interest in the girls allows you a window to speak with them about your startup. Chess not checkers.
Met
@realestatedude0
last year on X
Ended up selling him a deal across the country, he wired the money quicker than most local buyers would 😨
Today I ended up touring one of his flips and getting some more knowledge from him in person
Send him your deals!
Underwriting land for development is always where I get stumped
Need to learn that math, we come across a lot of acreage in our pipeline and we’re about to start targeting big plots
A friend of mine just ended up selling his RE wholesale business. He urgently needed a place to house a couple of his VA’s
I sporadically hired them and built our infrastructure with my partner as quick as we could
Ended up being a great idea. At least 6 leads/day coming in now
@amyoder
Eh, I think he was just ranting trying to sound smart and complex but used no logic with what he was saying. Instead he could’ve said “not interested now doesn’t mean they won’t be down the road”
Have a lead with low equity that I made a Subto offer to, they didn’t understand it that well even after I explained how it works
I sent them a Pace Morby video yesterday, they just reached back out asking to send over a contract
Content is power
Cold calling is the most powerful tool out there 📞
Spoke with a guy earlier today who develops residential subdivisions with an 800 employee company & just raised around $400M recently
Going to have coffee with him soon
So far this week:
Lined up a closing for Monday
Got a buyer to sell a MH to next week
Signed an offer on some land we have listed
Got a price reduction on another deal, in escrow with buyer now
Got extension on another deal w/current eviction
Got more land under contract
😅😅
Was just on a call with a seller who’s looking to sell 40 units in a great STR/LTR area
Towards the end of the call he says “I’m not sure how much cash you have or even if you have just a little, but we’re open to seller financing them to you”
Music to my ears
One concept I can’t seem to comprehend:
Why sell a course instead of just putting all of your time and efforts into scaling your business aggressively?
My only understanding is diversified income, but no real estate billionaires have ever sold a course….
Meeting tomorrow with a seller who has 32 properties left & wants to retire but hold the note on them in order to keep some cashflow coming in for his kids in case he dies.
Already seller financed a bunch of his others to other buyers.
📝🤝
I’ve decided I’m not buying a house to live in until I can afford my dream house which will consist of something worth at least a few million, preferably in Miami
Got a lot of work to do!
When I’m not doing real estate, this is what I’m doing. Fun weekend in LA
I spend my time watching my lit friends tear up the stage
While turning rappers & industry execs into my lenders
🕺
Point proven that sellers don’t always care about price:
Doing a novation and seller says “as long as I get my $30K, I don’t care if you sell it for half a million or whatever you’re going to make”
Relationship, relationship, relationship
Seller calls and leaves a message looking to sell his 1 acre “commercial property” with an older house on it. Asking $1M.
I call the county, they tell me it’s zoned residential.
My offer: $60K
I love delusional people
Wanna-be wholesaler calls me about a property they have under contract, asking $120K
It’s listed FSBO by the owner for $95K and a bunch of price reductions
Common sense is definitely scarce with some people
Just got a price reduction on a deal from $70K to $33K
Having those stressful and awkward conversations can always turn into a positive thing
You never know if you don’t ask
I think I’m at the point where I need a transaction coordinator
We have like 13 deals going on simultaneously and we’re still a super small fully remote company
Been working 7 days a week non-stop and as a result
September will be my first $100K month as far as assignment fees, with all of the closings we have lined up 🙏🏻
$BAC something is brewing here 🧐 it's been consolidating on the daily chart for quite some time & it looks like it wants over major daily resistance of $44.75. Whales also buying OTM calls.
Flow:
@unusual_whales
@Storage_Venture
That’s a lame move by the other buyer. Sellers getting an agreed upon price, doesn’t matter what happens onward as long as the deal closes on the agreed upon terms. I would do the same thing.
I had a guy who didn’t want us assigning his MH park, we double closed for $50K fee
Just pitched Sub✌🏻 at a seller appointment & overcame all objections
Seller completely changed their thoughts around & are now open to it
Creative deals will always be my favorite
Advice for people looking for a business to start:
Don’t start a wholesale biz because the amount of problems you’ll deal with is overwhelming for most, even at a small scale
Goals for 2024:
- 10X business revenue
- 10X deal flow
- Possibly finally pay for our first business coach/mastermind
- Pick up as many units as possible
- Hit the gym and bulk up, eat healthier
- Less drinking
- Go another year without accidentally having a kid 🙏🏻
Going to door-knock everything that hits the foreclosure auction list in my county all throughout February. I refresh it every morning.
Let’s see how many closings I can get 🚪🚶🏻♂️
Someone from one of my campaigns just left a voicemail saying not to call them or they’ll call the police
They then left another voicemail pretending to be a police officer without even attempting to change their voice 💀
Just got a really good flip under contract and have another assignment closing on Monday 🔥 Right before I go to Puerto Rico for 2 weeks 🏔️
We’re speeding up our marketing volume with the goal of reaching 30 deals a month at the least
Monday sets the mood for the week
Always be ready to attack the phones and NEVER let sellers off of the phone until you get a clear yes or no with all objections handled
📞
I think seller financing is going to be my main strategy in amassing a large portfolio over the next couple of years
Great way to spread capital & buy cash-flow
My partner & I have spent the past 2 weeks closing sellers over the phone & in person on some bigger deals
Almost $1M in potential assignments/acquisitions in the pipeline 💡
@windgineering
This is so true. None of them want to educate the sellers on realistic prices, they’d rather follow the sellers wishes and have the property sit on market for months. Waste of time
An interested buyer for one of the novation deals we have on the market currently went right around us and just called the seller directly instead of us
Just to be told by the seller to call us 💀
Build that rapport as best you can and be honest with your sellers, always