As I sit and write this open letter to new investors, I am reminded of the struggles I faced. It was not long ago when I confronted a critical decision. I had to decide whether to throw caution to the wind and invest or continue down my current path. I would like write to you today about taking the leap of faith. Read the rest of this entry →
Education is a major part of real estate investing. Educating your sellers will often occur. Wholesaler: Educate Your Seller To Close Deals, here’s how
Education is a major part of real estate investing. Educating your sellers will often occur. Here’s how to close more deals by educating your sellers.
A few months ago, I wrote an article about engaging sellers on the phone. This clearly ties in with educating your seller. I must say that I did not address another component of the conversation. I omitted this component because I wanted newbies to focus on the importance of gathering information from the seller. If you have a handle on gathering information great. The rebuttal to some of the sellers’ responses are critical in structuring your offer. Read the rest of this entry →
I will be reading a book shortly that everyone have been discussing “Start With Why” by Simon Sinek. This brought me to ask you this simple question; Have You Asked Yourself Why Real Estate? Read the rest of this entry →
Have you heard “get started investing without using any of your own money”, sure you have and many people believe this statement. However we all know nothing in life is free. I do agree there is a cost for most things. In this article I am going to introduce to you some free or low cost tools for wholesalers to use when starting out. Read the rest of this entry →
One of the most complicated tasks when starting out is knowing the legal ramifications of what should be in the wholesale contract. This article will be a great foundation to start with. However, laws are different in each state, so the best advice in this article is to consult an attorney.
Starting out can be expensive with legal fees. In my experience, I paid over $1,800 in legal fees to generate contracts I use for lease options. Of course, most newbies starting out do not have that kind of money. I will go through the most important content that need to be added in your purchase contract. I recently wrote a similar article regarding this topic on Bigger Pockets where I am a regular contributor regarding wholesaling. I want to go deeper in depth in this article and discuss the most critical things to have in your real estate contract. Read the rest of this entry →
What’s the Differnce Between Birddogging and Wholesaling?
I had the pleasure of being interviewed by Sharon Vornholt on her podcast Let’s Talk Real Estate Investing. Sharon is one of the most influential real estate investor in Louisville, Kentucky. We discussed what’s the difference between birddogging and wholesaling, and an awesome way to get started as a real estate investor.
If you are an aspiring newbie investor this podcast is for you. Come on and join the conversation as we discuss real estate investing Listen Now
I would love to hear some of your stories about how you got started as an investor, or some of the things you’re doing to get started.
Leave your comments below
DON’T FORGET to get your FREE copy of my book called “The Birddog Bible”. and visit my You Tube Channel for educational videos on how to get started investing.
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Remember we are “Enjoying the Journey”
Hi guys I want to talk about an awesome encounter I had recently and how it made me reflect on how I got started. I was asked “what are the practical steps I need to take in order to get my first deal but I can’t afford to FAIL”!!!! Read the rest of this entry →
There are many moving parts to any real estate transaction, and many people get snagged in one of these parts. With wholesaling these parts can trip you up very quickly.
The 5 Areas Newbies Trip and Fail in Wholesaling
Although this list is not all encompassing of a wholesale transaction, there are just a few parts that can cause you to fail as a real estate newbie.
Many newbies believe that the best way to crack the real estate industry is to start in wholesaling. This is your warning, newbies: stop wholesaling now. This is the biggest load of crap that the gurus ever told you.
If you have ever had the inkling to start investing, the first thing you hear is:
“No Money No Problem”
“No Credit No Problem”
“Earn $5,000 in 30 days or less”
If this all sounds familiar raise your hand. Yup, believe me, my hand is raised also. We’ve all heard this car salesman pitch and we were believers; whether you wanted to start with wholesaling or not, you may have been skeptical but you thought: “Wow this is my shot.”
The Reason You Should Stop Wholesaling:
Wholesale Assignment vs Double Close
There are a few different was to close a wholesale transaction, and this week I just want to share an experience on one of my closing. This is to give you an insight on which direction to take when it comes to closing a wholesale transaction.
The transaction I referenced above is a deal that I have been working on for nearly 6 months (remember the importance of following up), in our telephone conversation, I followed all the normal protocol on vetting the caller i.e…..finding out the condition of the house and what was their motivation so on and so forth. This was pretty straight forward, there was some motivation there but not much. He told me a price that he would like to get and I gave a sight unseen offer, and we were not far off in what he wanted and my price point so we decided on a time to meet.