1st Time Flipping a Home – Project Ground Zero!

We are about to embark on a new chapter of business for us in flipping homes. For the past few months we have been marketing for what we call Private Money Partners (or equity partners) and we acquired one. The guy is a farmer, and has really no time to get involved in Flipping but has a good amount of money saved up, and was interested in growing it by 20-30%. So over coffee one morning we got to know each other, and in turn he is interested in doing business with us. Now this past week through our marketing efforts, we were contacted by a women who was looking to sell a house she had inherited from her mother. The house is immaculate, but dated. So we looked at the property and made her an offer, after everything we settled @ $55,000. We are looking to give this property a major face lift, and then turn around and sell it. Total rehab will be cost us around $20,000 and after a Realtor and all other incurred fees we will be looking to net about $23,000 on our end. Now This is a little different for us than simply assigning(wholesaling) it over to an investor collecting $10,000 and walking away. But it is something my partner and I both strongly desire to do, and the payout is a little greater. As a wholesaler you have alot of opportunity with your interactions with investors to do a number of different things, as long as the number make sense, and you posses a little pitch man in you, the sky is the limit. Allow you creativity to take you places you at first never could at 1st imagine, and be open minded at taking your business in new PROFITABLE directions. The name of our project is called “Ground Zero” we will be documenting everything by video, and posting our journey through our Blog. Stay tuned for the up dates.

– Peace

The Effectiveness of Bandit Signs

This is now my 3rd post about these cheap pieces of plastic. And like the posts previous to this one, I am saying it again, THEY WORK! We do direct mail, and other forms of marketing for acquiring property, and up to this point bandit signs are the single most effective way for having motivated sellers, call you. Now we haven’t put out more then 40 signs in the last 3 weeks. But we have received a solid group of hot leads, people looking to sell there houses, and they are Free-n-clear. Those are the best situations, because these people for the most part have owned the property for a really long time, are looking to get rid of it with putting not a dime into the property, and with no out of pocket expenses. So If you have buyers and you need sellers I strongly recommend you going and getting these signs and start putting them up.

$1 Dollar Bandit $ign, Makes $20,000

Look… Like I said in my previous post on bandit signs, they work! I had a guy call regarding selling his house here in Fresno, due to one of my signs, ” Cash 4 Houses call BLAH BLAH BLAH”. So were talking and he tells me that he has 2 houses that he needs to get rid of. So I take all of the necessary info, look into the properties, and call him back 2 days later. When I called him back with my offer, I let him know that because of the soft market and the condition of the houses, I wasn’t going to be able to give him anything near what he was looking for. As polite as I could be, I also let him know I didn’t want to insult him with my offer. Now the key here was that I didn’t just throw out a price. I made him ask repeatedly for my offer, I wanted to try and get the properties for around $100,000. So when I finally did give him my offer, I told him that I would give him $80,000 cash and we”ll close quick. Now that’s alot less then what I was willing to pay but if he said yes, we would have had a deal. But I new he wanted more than that I just wanted to create some breathing room. He then told me he was hoping to get somewhere around $120,000 and asked me if I could meet him in the middle at $100,000 perfect; I told him the only way I would agree to that is if we really had a deal. He said “We have a deal” I said great sent him over the contracts it was like 9:30pm, he sent them back that night fully executed by him and his wife, and the next morning I contacted my escrow agent and sent the contracts over to her to open up escrow.  Now I already had my buyers waiting for these deals so it was a quick flip. Now the moral of this story is like I said, Bandit signs work, I’ve heard everyone else out there wholesaling say it, and now I’m saying it. Go get yourself some 18″ x 24″ signs, go get some sharpies, put them out, and start making some MONEY! By the way the sign cost $1 for all white corrugated plastic. We bought them here in Fresno, you can buy your own probably from somewhere local, or there are million different websites online you can order from.