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Find Cash Buyers Using Your Linkedin Account

I have used Linkedin to build my real estate investing and real estate wholesaling business.  It has become an amazing opportunity to network with private money lender sources, hard money lender sources, hedge fund sources, investor friendly real estate agent sources, other cash buyers, real estate wholesalers,  asset managers, and contractors.  I wanted to share some of the techniques I have used to find cash buyers and building your network on LinkedIn.

You must make sure your profile stands out.  You should upload a professional picture and make sure your profile clearly states some of the following:   We buy houses, real estate wholesaler, real estate investor, your business name, cash for houses, etc.  The purpose of this approach is to let people know clearly what you do and why they should connect with you.

You should join a few real estate geared groups on LinkedIn.  The reason why you join these groups is to make yourself visible and connected to a like minded group of people.

In the group, look for members who are actively posting in the discussion section that they are looking or properties to buy or they are responding to others who have properties listed for sale.  Check out their profile and make sure they are someone who is an active investor in our target areas.  We are looking for cash buyers, so we want to build our network to be full of cash buyers who are looking for properties to rehab and sell or investment properties.  Many of the serious cash buyers in your area will be actively posting and responding to discussion threads and readily offering contact information for the poster to get information back to them quickly, even if they are not part of each others network.  It is another great way to gain access to an ever growing and active list of cash buyers on linkedin.

Next, you will reach out to people associated with the group.  The way that you reach out to them should go like this:  Hi, I am a fellow member of “group name here”.  I see that you are involved in real estate.  I would like to learn how we can help each other.  Please accept my network request.  I look forward to working together.

An additional way to build your cash buyers list on linkedin is to post in the group discussions that you have wholesale properties or investment properties for sale in a respective area.  You will have the local cash buyers responding to your post asking for more information.

I have found that linkedin is an amazing source of cash buyers nationwide, if you will build your cash buyers list and network correctly.  If you don’t follow some o the guidelines that I have outlined here, you stand the chance of your account on linkedin being locked down or shut down for abuse and spam.

 

March 1, 2013 / by / in , , ,
Why Should You Invest In Mobile Homes in Mobile Home Parks?
Invest in Mobile Homes In Parks

Invest in Mobile Homes In Parks

Would you have ever thought that a mobile home could be a great investment vehicle? Let alone a mobile home in a mobile home park?  No matter the stigmas and stereotypes, mobile homes are great little cash cows.  There are so many ways to make money from mobile homes, it would be a shame to retain a negative perception of these little money machines. I hope to open up your mind to the possibilities that mobile homes offer and remove those stereotypes for you.  Why?  Well, simply because if you still hold those beliefs to be true, you will have a very hard time seeing and realizing all of potential these little moveable homes possess.

No matter how much money you have right now, you can make money investing in mobile homes.  You can invest a minimal amount of money and make a great return.  Depending on how aggressively you approach investing in mobile homes, you could have a nice monthly cash flow and no longer work for someone else.  If you have invested in real estate before, you know that a monthly positive cash flow of $300 or more dollars per single family home is a rare thing in some markets.  But, i do know there are some real estte markets, where you can make that kind of cash flow if not more, however, these real estte markets are not everywhere and not for everyone.  In many cases, they are in low income areas that have been hit very hard by the economy and might be many miles away from where you live.  What if I told you that you can make that and more each month on one mobile home over 5-30 years without the headaches of being a landlord!!!  If you buy and sell mobile homes the way I do, you will have this same type of cash flow each month from one mobile home.    Now consider if you had a bunch of these producing the same cash flow each month?  Let’s say, you had just 18 of these producing $200 a month, you would be bringing in $3600 positive cash flow a month.  Would you be able to quit your J-O-B then??? You definitely would not have to worry about making sure the tenants needs and repairs are taken care of each month and pay a property manager to manage those issues for you.  You would be receiving a monthly check from someone who owns the mobile home and wants to pay you so they can eventually own it outright.  I have only had about 10% of my seller financed mobile homes go into default.  The benefit for me is that I have already received my initial investment back in full and in most cases have already received a profit before they went delinquent on their loan with me.  I just clean the place up, collect another down payment, and monthly payments from the next buyer who want to own my mobile home.  I don’t have to worry about being able to qualify to refinance a loan either, because it is paid in full within 6 months to a year of selling the home with financing.  I have the same type of cash flow as a site built rental property without the outstanding debt or the headaches of being a landlord.

What if I told you that you could do this with only a few thousand invested?  Yes, you read that right and it does not even have to be your own money.   Most of the mobile homes I buy are bought for $6,000 and less.  Do you think you could raise at least that and buy your first mobile home? I am sure you can get at least that much if not more.  After all, how many of you have a credit card, a savings account, a car, boat, atv, travel trailer that you own free and clear, equity in real estate, retirement savings account, or a few friends or relatives.  If you do not have any of these to utilize, you could set up your business and gain a business line of credit with a local bank.  I set up a business banking account and asked for a line of credit.  The bank asked me to fill out a form and within 12 hours I had a line of credit for $5,000.  I did the same thing at another local bank and got the same thing.  You can see the trend and the amount of cash you could have at your disposal without much effort or time exerted.   You can network and find others who have money and want a great return.  You can network with people who want to make a better return on their money.  At one point in my business, I wanted to move into buying mobile homes on land, so I was looking for funds to acquire these in Arizona.  I started networking within my sphere of influence and a good friend of mine suggested getting in touch with a local hard money lender.  I called him to see if he was willing to invest in mobile homes on land in Arizona.  He said that he was not interested in investing in that market, but that he liked to invest in Utah and asked if I had anything I was looking to invest in Utah.  I told him that I did not have any mobile homes on land in Utah, but I was actively buying mobile homes in parks.  He was intrigued and asked me to explain a little bit more about what I did.  To say the least, he asked me to put together a prospectus and outline of the deals I had done and meet him for lunch.  We had another meeting after that, which is the meeting that he offered to fund all of the deals I wanted to get into as long as I taught him how to do the business.  We were going to split the proceeds for each deal after he received his initial investment back plus 10%.

Okay, well what if none of these work for you and you still can’t find money to buy mobile homes? There are peer to peer lending networks or P2P lending networks that you can post your money need and have a network of people bidding on your offering and help you gain the funds you need to start or continue buying mobile homes where you can make amazing returns. These are just a few of the sources I have tapped into to find money to buy my mobile homes in mobile home parks.

So, do you think you can make money investing in mobile homes now?  I hope you can at least see the potential now.  Really, the only obstacles you face are those that you place in your own way!!!

Learn how easy it is to invest in the Mobile Home Real Estate Industry! Please register for our FREE Mobile Home Investing Webinar called Tin Can Profits! (Yes, that’s what we call it.) on Jan 24, 2013 7:00 PM MST at:
https://attendee.gotowebinar.com/register/1427201625011787520

While the rest of the investing world jumps on the latest Real Estate investing craze, avoid the competition and market mayhem by investing in Mobile Homes.Investing expert Dawn Erling will show you how easy it is to make money in this lucrative market. She will give you her inside ideas and tricks that have helped make her the mobile home investing expert she is today. Be-aware that this niche isn’t for everyone… so if you are looking for lower investing price points, faster turn-a-round investments, and how to make quick cash then join our free webinar! WholesaleDealmatcher.com is proud to sponsor of this webinar. After registering, you will receive a confirmation email containing information about joining the webinar.

January 20, 2013 / by / in , , , ,
Considering Mobile Home Investing: Check These 3 Factors Before You Buy A Mobile Home In A Mobile Home Park
Learn How to Be Successful Investing in Mobile Homes

Learn How to Be Successful Investing in Mobile Homes

Anyone who is considering getting into the mobile home investing business needs to make sure they check a few key factors out first or else you stand to potetniall loss money.  If you do not check into these factors, you might have a few hidden expenses that could reduce your profit margin.  If you are considering buying a mobile home or manufactured home in a mobile home park, you need to make sure you check into three factors that could impact your investment and cost you more money.

  1. You need to contact the mobile home park manager or mobile home park owner and make sure that there isn’t lot rent owed that will transfer over to you when you buy the mobile home.  In some cases, the mobile home can not be sold or moved until all of the back lot rent is paid in full.  Why is this your problem?  Well, it might impact the amount of money the seller sells their mobile home for in order to pay off that existing debt.  It could take more money out of your pocket in the end.  In some cases, the lot rent outstanding will transfer with the mobile home and not the tenant.  You could face a large bill when you take over ownership of the mobile home, because of this oustanding lot rent.  In many cases, the utilities that are outstanding with the prior tenant will be passed onto the new buyer too.  You really need to check with the mobile home park manager to make sure you are not assuming someone elses debt & burden.
  2. You should check with the tax assessors office to see if the personal property taxes are paid current.  Specifically, you will call the county personal property tax assessors office.  Also, you should make sure that the tax deed has not been sold recently.  If it has been sold recently, the legal & titled owner will be someone other than the current seller…possibly.  You want to make sure that the persons name and address listed on the tax record is the same as the person who is selling the mobile home, even if they claim they have title to the mobile home.  It might not be a legitimate or current title.
  3. You will need to confirm that the seller has title in hand and that it is a valid & current title transfer.  If they do not have title in hand, they probably have a lien on the mobile home that needs to be paid in full before they transfer it to you.  It could add additional time and money to your mobile home acquisition time frame.  In many cases, you find that there is a dispute between the borrower and the lien holder that may not be able to be resolved.  Often, it is due to a payment dispute which could cause you problems.  If they do not have title in hand, you need to walk away and not look back on that deal.

I hope you check these 3 factors before you consider buying a mobile home or manufactured home in a mobile home park.  Performing your due diligence will save you a lot of money and headaches in the long run.  After all, you could potentially buy a mobile home from someone who does not legally own it, if you do not do your homework.

Learn how easy it is to invest in the Mobile Home Real Estate  Industry!  Please register for our FREE Mobile Home  Investing Webinar called Tin Can Profits! (Yes, that’s what we call it.)  on Jan 24, 2013 7:00 PM MST at:  https://attendee.gotowebinar.com/register/1427201625011787520
While the rest of the investing world jumps on the latest Real Estate investing craze, avoid the competition and market mayhem by  investing in Mobile Homes.
Investing expert Dawn Erling will show you how easy it is to make  money in this lucrative market. She will give you her inside ideas and  tricks that have helped make her the mobile home investing expert she is today.  Be-aware that this niche isn’t for everyone… so if you are looking for lower investing price points, faster turn-a-round investments, and  how to make quick cash then join our free webinar!  WholesaleDealmatcher.com is proud to sponsor of this webinar.  After registering, you will receive a confirmation email containing information about joining the webinar.

January 19, 2013 / by / in , , ,
Is Your Real Estate Market Heating Up? Are You Struggling To Find Wholesale Properties? I Have A Solution!
Learn How to Invest In Mobile Homes

Learn How to Invest In Mobile Homes

I buy Single Family Residences in Utah.  I have noticed that the inventory has decreased quite considerably within the last 9 months.  Therefore, the typical wholesale property is becoming harder to Get an offer accepted, because there is more competition in the market place from retail buyers and landlords.  I travel all over the country, so I am in a lot of different real estate markets.  I am seeing the same type of thing poking up in many of the real estate markets throughout the United States & Canada.So, if you are new to real estate investing, you might find it difficult to get your whosale offers accepted.  In some cases, you might be entering wholesaling as a way to put capital in your pocket and get your real estate investing business up and running. The big question is….can you still make money wholesaling real estate? The answer is yes, but it is going to take longer to get wholesale offers accepted and evenlongest to make money with these challenges in place until you really dial in on your market and find your niche.

I have a solution to this problem.  The solution will get you earning money in almost any real estate market quickly.  The solution is a niche that I have actually been laughed at for doing.  In fact, any time I have stood up in a real estate investment club meeting and said what I do, I have received some interesting feedback and a sigh or two. You know what, I am glad they feel that way, because it keeps my competition low and my cash flow high.

So, guess what my niche is?  I buy, fix, and sell mobile homes and manufactured homes in mobile home parks. I even wholesale mobile homes with or without financing too.  Did you know you could even do that?  Okay, we’ll you may have thought it was possible, but did you know how much you could make per mobile home deal versus what you make with your typical wholesale deal?  Let’s just say it can add up to a lot of money, if it is done correctly. It could also become a long term cash flow producing investment too with no real carrying coSts either.  If done correctly, you could even get all of your money back within 12 months or less and still make 12-18% return on your initial investment.

Let’s do a quick comparison onconservative numbers.  On average, we net about $3000 on a wholesale real estate deal and if we have a money partner on our rehab & sell properties it might end up around $6000 in the current real estate market. Okay, so that is for your typical single family residence deal.  Now here is an example of what I made on a quick flip deal, I bought the mobile home for $5,500 using a business line of credit.  In a week, I sold it for $14,500, which is a profit of $8950 with my finance charge of $50 being pulled too.  Not too bad for a weeks worth of work.  It was noteven a manufacturedhomer, it was in the mobile home era and it was a single wide with 3 bedrooms and 1. 3/4 baths in a nice family park.  We just cleaned it up and sold it, so there were not any repair costs either.  We did not hold it long enough to pay lot rent and we kept the priorowners security deposit in place.  It is just one example of the money you can make in the mobile home investing world.

I have one additional point to make here too.  I was talking the other day with my single family residence investing business parrtner, who said we are slow now because we are having a hard time finding propertieS that meet our investment criteria.  I laughed and said well maybe we should do more mobile homes now.  She looked puzzled and said what do you mean.  I stated I put an ad out earlier this week that we buy mobile homes and I have received 10solid phone calls where people just need out of their mobile home.  Oh and by the way they are looking to buy single family residence like what we buy, fix, and sell, so we betterstart getting more inventory, can we cthe double dip on theseleads I have right now.  Now, I hope this has helped you to see the amazing opportunity intone current real estate market to have a low cost investment and make the same return if not more buying & selling mobile homes.

If you would like to learn more about investing in mobile homes please register for our Mobile Home Investing Series on Jan 24, 2013 7:00 PM MST at:
https://attendee.gotowebinar.com/register/1427201625011787520
Tin Can Profits! (Yes, that’s what we call it.)
In this webinar, you will learn how easy it is to invest in the Mobile Home Real Estate  Industry! While the rest of the investing world jumps on the latest Real Estate investing craze, avoid the competition and market mayhem by  investing in Mobile Homes.  Investing expert Dawn Erling will show you how easy it is to make  money in this lucrative market. She will give you her inside ideas and  tricks that have helped make her the mobile home investing expert she is today.
Be-aware that this niche isn’t for everyone… so if you are looking for lower investing price points, faster turn-a-round investments, and  how to make quick cash then join our free webinar!  WholesaleDealmatcher.com is proud to sponsor of this webinar   After registering, you will receive a confirmation email containing information about joining the webinar.

January 18, 2013 / by / in , , , , ,
What is Wholesaling Real Estate Going to Look Like in 2013?
Wholesale Property 2013

Wholesale Property 2013

Lets first start off by defining what wholesaling real estate is and who is involved in wholesaling properties.  Wholesaling real estate consists of identifying cash buyers who are actively buying investment properties in a local real estate market, getting their investment criteria, finding properties that meet their investment criteria, and then selling the information, contract, or property to the cash buyer for a fee.  The most common cash buyers you are going to find in any real estate market are real estate investors who are buying investment properties to rehab and sell to FHA buyers or credit challenged buyers or rent out.  These cash buyers are professional real estate investors who have bought and sold properties for an period of time in the current real estate market.  In some cases, these cash buyers are seasoned veterans who have bought and sold tons of properties over the years and thru a variety of different real estate markets.  These cash buyers are the ones that Wholesalers of real estate should really follow and learn their tricks of the trade.  These cash  buyers know how to make money in any real estate market.Wholesaling real estate up to 2012 consisted of finding cash buyers and passing wholesale properties onto them via bird dogging, assigning, or double closing with them in exchange for money.  The types of cash buyers we worked with during this time were most commonly rehabbers who bought properties, fixed them up and sold them to owner occupants who qualify for financing and those who dont qualify for financing as well as landlords wanting to rent properties out.

Toward the end of 2012, I started seeing more novice cash buyers coming into the market place.  A lot of these novice cash buyers are people who have money from retirement accounts that are looking for a better return than what they are currently receiving.  Many of them do not want to learn about real estate investing, they just want to reep the benefits of investing in real estate.  In fact, you will find that many of these cash buyers are migrating toward turn key rental properties. A turn key rental is a property that has been fixed up, rented out, and it has property management in place. These novice cash buyers want a headache free and minimal return on their cash investment.  Sometimes it will be as low as 6%-8% return.

The reality is that in many cases they are paying more than retail for these investment properties, because of the income these properties are producing.  The trend is no different than in years passed where as the market heated up then the stock market and conservative investors jumped onto the real estate investing band wagon.  The problem with these types of cash buyers is that they are not savvy enough or expereinced enough to really have dialed in and concrete investment criteria, so it is difficult to hone in on what exactly they want to buy or the type of return they want to invest in.  These cash buyers will most likely over pay in the local market place due to their lack of education, thus they will drive up the property values in the areas they are investing.  It can be a good and a bad thing in many markets.  If you want a good example of what I am talking about, just think back to what happened in Phoenix metro, Las Vegas metro, and throughout Florida between 2003 to 2006.  It was a factor of novice cash buyers buying an investment property at the top of the market and they hoped it was going to sell for more in a few months due to appreciation.

The moral of this story is that real estate wholesalers might have more cash buyers to buy their wholesale properties in 2013.  Real estate wholesalers might have a new group of cahs buyers who will pay more than their usual seasoned cash buyers in any real estate market.  In 2013, you might see a large increase in the number of cash buyer you can pass your wholesale properties onto. It will result ultimately, in the real estate wholesaler making more money in 2013 from passing on wholesale properties to cash buyers.

January 2, 2013 / by / in , , ,
Are You Buying Investment Properties? All Cracks Are Not Created Equal.

I am in Houston, TX this week looking for investment properties we can buy fix, and sell or fix and sell as a turnkey rental.  In some areas, you will find common flaws for the area.  What do I mean by flaws?  These might be foundation issues, water issues, roof issues, landscaping issues, structural issues, or fascia issues.  For instance, Houston had a very hot and dry summer this past year, so a lot of the foundations in the area have broken or cracked due to them not being irrigated correctly during this time.  You will find this in many of your southwestern states where they have  extreme heat and lIttle precipitation.

How do you know if any one property was affected by the extreme heat? You will need to look for evidence of foundation issues on the exterior fascia and the interior walls and flooring.

Here are some of the main items to look for:

  • Many of the homes in that area have brick exteriors.  Brick exteriors will easily show shifts, settling, and any movement.  You will find that the mortar will crack in areas that have moved.  Most times you will find these cracks originating at the roof line or from window or door openings.  The lonager the crack in the mortar the more concerned you should be.  The biggest concern should arise when the crack is wider than the width of a quarter.  It is even more severe, of you find that the crack has gone thru a brick instead of around it.  The number of cracks in the brick exterior are also a concern.  If the brick fascia is moving forward or bowing outward, you need to do more investigation into the reason for this direction of movement.
  • The foundation is obviously a place to look for cracks.  In a lot of case, the foundation will show just above the ground and will allow you to see any issues with it. You should look for cracks in areas where  a basement window or door are located.  Also, you should look at corners and other weight bearing areas on the foundation for cracks?  In some cases, the cracks will be on a stucco like material added to the foundation for a nicer finish and not the actual foundation itself.  Where you find brick mortar cracking, you might find foundation cracking too.
  • You will want to check entry doors and door frames for settling too.  In some cases, the settling will be so bad that you will find the door is hard to open or close.  You might even see visible cracks in the wood around the opening. Garage doors will not open or close properly or you will find that the garage closes on one side but there is a large gap on the other side
  • The basement or crawl space will offer more information about settling.  You will need to look in area where windows and doors are located and where most of the weight of the homeborn being held.  If you find surface cracks, you might need to do a little more investigative work.  If the cracks are wider than a quarter, you should consider that there are some issues with the foundation.  Some floor cracks are common and more common in some areas than others, but when you have a lot of cracks running all over the basement floor, you should consider moving onto your next investment property.  You should note whererepairs have been made in this area too.  The floor may have been releveled or resurfacedTo hide the issue.
  • The ceilings and walls will show shifting and settling too.  When you are inside the investment property you might find around the door and window openings cracks leading down to the floor or up to the ceiling.If these are large cracks that are prolific throughout the investment property, you might consider walking away or further investigation.  Plaster finishes are less forgiving than drywall finishes, so you will see the settling in plaster more readily than you will in dry wall.  If the doors in the investment property are closing on there own or they are difficult to open, then there has been some settling that has occurred.
  • All of these factors are indicators that shifting and settling has occurred with the investment property you are considering investing in.  You will find some evidence of settling in most every home you go into, but the severity and amount of cracking will be the true indicator of whether it is usual or unusual cracking.  The more severe cracking might be an indicator of foundation issues or other structural factors being present in that investment property! This you will either need to run or seek further help to investigate the severity and options for resolution.  Foundation and structural issues can be quite expensive to resolve.
January 2, 2013 / by / in , , , ,
Can You Really Wholesale Real Estate In Any Real Estate Market?

I decided to write this post due to what I have seen in the markets I have been in this month.  I have been in Calgary, AB, London,ON, Honolulu, HI, and Vancouver, BC.  These markets are still appreciating, fast moving markets (90 days or less), and high price point areas.  Most of my clients in these markets were skeptical if wholesaling could still work in their market.

Here is what we did.  We kept the same criteria that we use in any real estate market to find distressed proeprties.  Therefore we were looking for entry level homes, with at least 3 bedrooms, with a price reduction, sitting on the market for longer than average days on market, needing repairs, and seller must be motivated to sell.  We looked in areas where investors were buying and able to resell for a profit of $30k -$40k, due to higher price point of homes.

We found some investor friendly real estate agents who brought us some great pocket listings that met our investment criteria exactly.   These investment properties were in either distressed condition or had a seller with a distressed situation.  They were priced aggressively in the current market and had plenty of room in there for a fix and resell for After Repair Value.

Here are some examples from these markets of what these investor friendly real estate agents found for us.

  • Honolulu, HI:  Property was listed for $479,000 with $25,000 in repairs needed and ARV of $600,000.
  • Calgary, AB:  Property was listed for $469,000 with $30,000 in repairs needed and an ARV of $750,000
  • Vancouver, BC:  Property was listed at $489,000 with $40,000 in repairs needed and an ARV of $700,000 now and potential to be up to $900,000 when train station nearby is finished.

Do we really care what an investment property is listed for?  The correct answer is no, we really don’t care except to determine the sellers level of motivation to sell.  Each of these properties had a motivated seller who priced the properties aggressively in the market to sell it quickly.  The property in Calgary, AB was recently reduced with a seller wanting to close in 2 weeks.  It had sat vacant, but full of stuff for over 4 months.  The seller had moved to a diferent country and needed to sell fast.  The house needed updates and higher end finishes to sell it for the $750,000 ARV price.  The house in Honolulu, HI was an estate sale with a squatter that needed to be evicted.  It had sat on the market for a few months with a recent price reduction.  The property needed updates and freshning up.  It also had 2 units that could be rented out or one occupied and the other rented out.  The Vancouver, BC property was an estate sale as well.  The property needed to be cleaned out of personal effects (mostly shoes), updated, and cleaned up.  It was around he corner frrom a new commuter line for the train into downtown Vancouver, which made it a very desireable location.  Each of these investment properties  had plenty of room in the deal for costs to close & hold, to cover repairs, and provide ample profit for a cash buyer in that area.

It was fun when we ran the numbers and my fellow newbie investors saw that they could wholesale properties to cash buyers in their area.  It was a great eye opening expereince for them and proved that you can really wholesale properties in any real market as long as you have cash buyers and you find motivated sellers.

December 27, 2012 / by / in , , ,
Real Estate Wholesalers: Submit Multiple Offers a Week Using This Surefire Technique

If you are a real estate wholesaler, you might be struggling tto make enough offers to have a sufficient number of wholesale properties to pass onto your cash buyers list.  You might not have a solution to allow you the opportunity to make multiple offers a week on properties to arrive at a property under contract.  The fact is if you have a system in place, you can stream line the offer making process.

Many of us feel that we are the only ones who need to make everything happen and do all of the work.  If we don’t do it, who will?  Why should I pay someone else when I can do it myself?  The best advise I can offer is you need to pull yourself out of the day to day grunt work and establish a team that you can manage.  You will get more offers out and have more wholesale properties to make money off of  as you pass them onto cash buyers.  You must leverage other peoples time and resources to be successful in wholesaling real estate.

I know it is scary to think of real estate this way, due to the fact we are giving up control and trusting  someone else to have the same goals and objectives as us.  Am I right??  Don’t worry, you are not alone.  It is one of the most common factors that holds real estate wholesalers back from rreally reaching their full potential for income.  Just think, if you have someone doing the low dollar an hour jobs and you focus on the higher ticket jobs, you are really maximizing the amount of cash flow your real estate wholesale business can bring in per month.

An additional reason why you want to outsource certain jobs in real estate wholesaling is that the person you are bringing on can bring additional resources, experience, and business connections to your real estte wholesaling business.  Essentially, you are piggy backing off of their time in the real estate industry or their experience in other aspects of business that will compliment what you are trying to accomplish with real estate wholesaling.  For example, a real estate agent  who works with real estate investors knows the sweet spots where other real estate investors are buying or even have a few cash buyers who might be interested in your wholesale properties.  In most cases, they have a team of real estate professionals who can help close these wholesale properties and other types of investment properties.  After all, if they have this team in place, they are going to be able to close more deals faster, thus they can make more money faster too.  It is their motivator and the driver that keeps them working hard for you as a real estate wholesaler.  Likewise, you  will find other real estate professionals with similar objectives and resources as you.

I learned this the heard way folks.  I thought I had to be the person doing everything.  The fact is my real estate wholesale business suffered from me thinking that I was good at everything and that I was the crucial nugget to success.  I was not.  I had a heart to heart with my business partner, she sat me down and said “you need to outsource these things, so we can do more deals and make more money.  Guess what I did, I actually found key people to inset into my business and I managed the system.  You know what happened.  I found more deals, rehabbed more deals, and made more money.  Folks, you can make more money wholesaling real estate if you out source and leverage other people’s time & resources.

The people to make sure you include on your team are investor friendly agents.  They will always be looking for properties that meet your investment criteria and help to stream line the process to make multiple offers a week.  We want them to be willing to make aggressive offers on the properties, so we can get them for wholesale values to pass onto our cash buyers.   They  have to share the same goals and understanding of real estate investing as you.  I have a book titled “Surefire Techniques to Finding Investor Friendly Real Estate Agents”, which discusses the key elements that you need to look for in a real estate agents. If you want to learn more about finding investor friendly real estate agents, you can get my book at http://www.amazon.com/Surefire-Techniques-Investor-Friendly-ebook/dp/B00AEIZPWQ/ref=sr_1_5?ie=UTF8&qid=1355787080&sr=8-5&keywords=surefire+techniques

December 17, 2012 / by / in , , ,
Real Estate Wholesalers: There Are 3 Ways to Make Money With Cash Buyers
Wholesaling to Cash Buyers

Wholesaling to Cash Buyers

Most real estate wholesalers and cash buyers know of one main way to work profitably together, which is where  the real estate wholesaler finds a great wholesale property and passes it onto the cash buyer for a fee. Some of the most common ways that real estate wholesalers can pass on a wholesale property to a cash buyer for a fee is via Bird Dogging, Assignment of Contract, Selling an Entity, & Double Escrows.  A normal fee for passing a Bird Dog deal onto a Cash Buyer is $500 to $1000, an Assignment of Contract & Selling of an Entity will offer a fee of around $2500 to $5000, & Double Escrows for $10,000 and more. Most real estate wholesalers will stop making money with these techniques.  In my opinion they are leaving money on the table.

There are two additional ways that a real estate wholesaler can make money with a cash buyer.

  • One of the ways involves helping the cash buyer to make money from wholesale properties or just properties that do not meet their investment criteria.  Normally, these leads would just be left to the way side and nothing would be done with them.  Every serious cash buyer that is actively buying real estate will use a variety of different sources to market their properties for sale or rent as well as to find motivated sellers.  They will have a variety of leads coming in at any given time.  Many of these leads will not meet the cash buyers investment criteria, so they will let it go to the way side.  If they knew that they could profit from these leads with little to know effort and share some of the proceeds, they would be more than willing to do something with these motivated seller leads.
  • The other way is to help the cash buyer make money when they go to exit the property.  What do I mean?  Any of these cash buyers have a particular way that they make money in real estate.  It might be that the cash buyer will make money by fixing & selling to retail buyers, selling to credit challenged buyers, or renting it out.  In some cases, they will not be able to find these people or find them easily.  If you have these people lined up and can help the cash buyer make money on the execution of the deal, you can make money as the cash buyer is making their money.  You will provide a one stop solution for their real estate investing needs too.  You might be able to help them find the property and then help them find the end consumer who will pay for the property.

You are providing an additional service for them to be profitable faster.  Just like any other business, if you provide good quality services and products, you will keep your customers coming back and willing to pay more for your product.

December 6, 2012 / by / in , , ,
Real Estate Investors: Do You Have A Lead On A Mobile Home? Learn How To Find Mobile Home Investors To Pass These Onto For Cash & Future Referrals
Mobile Home Leads

Mobile Home Leads

Real estate investors from time to time, you might come across a variety of different types of seller leads.  In a lot of cases, these properties might meet your investment criteria, but some of them might not.  What do you do with those leads that do not meet your investment criteria?  If you don’t do anything, you will essentially leave money on the table.  You will also miss out on opportunities to maximize on your marketing dollars and efforts.  You do not have to be an expert in all types of assets, but you can be associated with someone who is and still be able to get the deal done and money in your pocket.I have bought, fixed, and sold mobile homes in mobile home parks for years.  It is just one of my areas of expertise. I am an anolmoly though and I am often not taken serious in real estate investment club meetings.  Well, at least not until one of my fellow real estate investors comes across a mobile home lead, have someone who owns a mobile home and wants to buy their rehabbed homes, or other situations where they have leads on mobile homes in parks.  I will pay good money for mobile home leads.  I can also return the favor, because from time to time my sellers or borowers are looking to move out of their mobile home and into a site built home.  I could pass ono them these leads right!!!?  Well, only if I am not selling site built homes of course. 🙂

Why try to be an expert in all areas of real estate, when you can have a cash buyers list of people who specialize in a variety of different types of assets and deal structures?  It makes sense to make money off of all of your leads you have with motivated sellers and move on.  You can build a robust cash buyers list pretty easily, as you have learned in some of the other blog posts I have placed here.  I am going to focus on building a cash buyers list of mobile homes in mobile home parks in this blog post.

You might find some mobile home investors who are on the web, such as my mobile home investing website www.dalmobilehomes.com , but most mobile home investors are low key and not very well publicize.  In most cases, they will not have websites  or social networking presence.  So, are they hard to find?  If you don’t know what to look for, they are down right difficult to find.  Here are a few ways to locate mobile home investors:

  • Look on free classified ads websites ( ex: Craigslist.com, Backpage.com, etc) & weekly newspaper publications (ex: American Classifieds, Thrifty Nickel, etc)  for ads that state “We Buy Mobile Homes”.
  • Again look on free classified ads websites ( ex: Craigslist.com, Backpage.com, etc) & weekly newspaper publications (ex: American Classifieds, Thrifty Nickel, etc)  for ads that state any of the following statements in association with a mobile home for sale “Owner will carry”, “seller financing”, “rent to own”, “owner financing”‘ $xxxx down/$xxx month”, “low down payment”, “lease option”,  “lease to own”,  or “completely remodeled”.  These all are indicative of a mobile home investor marketing their mobile home for sale after they have fixed it up.  Occasionally, it will be a private party individual selling  their mobile home this way, but it is the exception and not the rule.
  • Signs on mobile homes in the surroundinng area that state “Seller Financing”, “Owner Will Carry”, “Owner Financing”, “”$xx down/$xxx month
  • You can also call and speak with the park managers in the area and ask them if they have any mobile home investors they might be able to refer you to who buy mobile homes in their park.  
You can then reach out to these mobile home investors and find out what they like to buy, where, do they pay referral fees,  types of repairs, and how much they are willing to pay for a mobile home.  You will gain their investment criteria and see if the mobile home lead you have meets their investment criteria.   Now, you have a cash buyer that you can add to your list, you can make money off of a lead you normally may not have, and established an alliance with someone in your local real estate market who might be able to send leads your way too. 
November 8, 2012 / by / in , , ,