Mr. Followup
@Reiwholesaler
Followers
1,969
Following
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244
Statuses
4,337
Real Estate Off-Market Deal Sourcing 🏘️ • Completely boot-strapped • Ex day-to-day artist management 🎶
South Carolina
Joined December 2021
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Seller asking $1M for their property
We offered $650K
Offer accepted
Always make the offer ✅
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1K
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
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Hung out with this girl off tinder like 2 months ago, she ended up telling me her mom was a hoarder and also about to be in foreclosure
Just locked up the moms house ✅
Don’t get it fooled, you just a lead
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When it comes to neighborhoods, does size really matter?
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I think some agents forget they’re in real estate sales where everything is public information 😂
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Every time I ask an agent the age or condition of the roof and HVAC their answer is always “I’m not sure”
How are you unsure about the two biggest ticket items on a property?
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@JohnJBlatchford
Paying a home loan = building equity in something
Paying rent = not building equity in anything
Simple to understand
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Wholesaling just ruled as “illegal” to do 2 or more deals without a license within a years time period, in Virginia
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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….
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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 😷
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A $25,000.00 rehab to a wholesaler is a $40,000.00 rehab to an investor
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@SahilBloom
Lolll that’s how you get your face blown off in 2022. Better to social media network
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Today is one of those days where I’m actually ready to exit residential real estate 100% and put my whole focus into multi family/commercial
Problem after problem
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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….
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Real estate is not for you as far as a profession, if you think everything’s going to go smooth & you’re going to easily buy stuff and get a huge return
The art of making a deal, solving peoples problems and negotiating is what the game is all about. That’s what makes it fun
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The absolute hardest part of virtual sales is getting an elderly person to sign a docusign
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When selling a deal and someone asks “what’s the least you would take?”
Whats your response?
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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
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Wholesaling is the gateway drug to getting into real estate
Change my mind
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My number one rule is to NEVER negotiate via text
I get a lot of sellers constantly asking what the offer is through text
Always get them on the phone 📞
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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
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Young attractive woman in this generation have an insane advantage when it comes to getting rich…
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HOA is $1,103/mo. How is this an “investment property”??
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New wholesaling law in South Carolina
What they consider “marketing the contract” is still a grey area
I blame all of the TikTok/Youtube Gurus
One of the exact reasons why I will NEVER sell a course or teach what I do. My focus is strictly doing deals.
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Offer after offer today 😮💨
Pipeline full
Hiring two more callers
Foot on gas all year
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Update on doing assignments in South Carolina per my main closing attorney
They tried to stop us but they can’t 👊🏻
I think a lot of atty’s will be taking this stance due to all of the business they’d be missing out on from cutting out wholesalers
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My lawyer told me today that a lot of banks are calling loans from houses bought SubTo and trying to get investors to refinance at these rates 🤒
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Made a seller finance offer on 6 units, decent 15% CoC, seller considering, let’s see what happens 😃
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Marked an off-market property everywhere including investorlift a while back but didn’t get any offers
Put the same property on the MLS and got an all cash sight unseen offer within a day
Assignment fee went from $50K to now $28K after agent commission 🫤
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@MariaAfsharian
According to seller he still wants to sell and never got word about our offer
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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 ____?"
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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?
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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!
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@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.
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Seller financed condo under contract at market value
$10K down
0% interest
$633/mo
5 year balloon
HOA $180/mo
Has tenant on 3 year lease at $1,500/mo
Would you buy this deal?
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VA marked this as a warm lead 😆
Gotta teach them how to figure out when a prospect isn't serious....
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Have a $50K assignment double closing today and our transactional lender on the deal is no where to be found
Real estate is fun 💀
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@mtns2ocean
Jordan made some great points, regardless of his past he’s one of the greatest salesman out there
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Told yet another seller that we’re not buying the house, we’re bringing in another buyer instead and making a fee
Did they care? No
Seller got their price, a fast close and an as-is sale
Not all wholesalers are scummy
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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
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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
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There are for sure some deals on the MLS ✅
Closed at $119K under list price
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When someone asks what it’s like being in real estate -
Imagine doing a deal for 10 months just for it to not even end up going through… 🤦🏻♀️
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Have a deal in small TX town with 5,000 people, marketed the shit out of it
I called the biggest broker in town who works with all of the investors there and he tells me no one’s buying right now
Put it on the MLS, an agent from his office brings a buyer 😂
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@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”
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Sundays are still for cold calling and locking up deals 📞
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Holy fucking bots
I need a referral that someone here has actually used
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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
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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
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I have so many problem deals right now, most I’ve ever had go south in a month 😂
Yet we have over $100K in assignments pending ready to close next month
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@JoeCassandra
Agreed. Being a landlord is only profitable and somewhat passive at a large scale.
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I need to go back to trading. Real estate is too slow
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Why do people list their properties FSBO and then never answer the phone?
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How many offers did you make last month?
I personally made 85 offers myself
I’ll expect my acquisition managers to make more offers as their sole focus will be on acquisitions
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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
😅😅
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I had 2 closings today but have 0 incoming wires 😅 remind me to never schedule a closing on a Friday
If your deal is supposed to close on a Friday, enjoy your Monday closing.
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For every deal we start marketing, I always look forward to the part where I reject all New Western agents
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We’ve recently built out our in-house VA hiring process and promoted one to manager, completely delegating everything cold caller related
Next step is building out our acquisitions/dispo process in order to start hiring some closers
Getting closer to becoming a 7 figure biz 🙏🏻
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Currently under contract with a seller who thought our offer was the cash she was going to get AFTER the mortgage is paid off….
People need to be more educated on of how mortgages work
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Made a bunch of on-market offers recently but the agents can never ever get back to me with a simple yes or no and don’t answer the phone
I’m about to just start calling the sellers directly from the jump
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Unpopular opinion: No doesn’t mean no in the real estate world
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Was hangin’ with some girl I met on tinder yesterday…turns out her moms in foreclosure & not under contract with anyone 💡
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So far today made 6 FSBO offers, 5 declined and 1 pending 🙏🏻
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Just went live yesterday on a novation deal with a $120K spread and my phones been getting blown up this morning by agents 😋
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Can’t lie, building out a wholesale/acquisition business is a shit ton of work.
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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!
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Some say “equity theft” I say being the reason that dilapidated house on your block gets fixed up and a family moves in.
So your neighborhood doesn’t look like shit and your property values go up.
🫡
Sometimes wholesalers make a ton of money without lifting a hammer. I'm jealous and proud of them. Without them investors wouldn't have as many deals to purchase.
Wholesalers play an important role in real estate investing imo.
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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.
📝🤝
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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….
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My rule for follow-ups -
Residential should be rigorous
Commercial should be targeted and moderate
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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
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I guess the only thing holding me back from being able to do 30+ deals a month is manpower
This means we’re starting to hire 📞
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3 contracts today ✅
After a slow 2 weeks
1 Creative deal, 1 cash deal, 1 flip we’re about to do
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My partner has recently connected with 2 of the biggest developers in his hometown who are worth over $1B collectively, to learn the ropes on new construction
On the other end, I’m working the day-to-day of the wholesale biz sourcing the land
Only outcome is 💰
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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
🕺
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A lot of the time it’s not actually about the highest offer
It’s about who’s solid and can actually perform
This goes for both buying and selling deals
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When making an offer I literally never pay attention to nor do I care about the sellers asking price
Unless the offer is creative, instead of cash
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Just assigned and closed on my first Hybrid deal consisting of 50% Subject-To and 50% Seller Finance
Quick $10K assignment fee
This deal literally happened due to me sending the seller a
@PaceJordanMorby
video on creative finance ✌🏻
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Getting ghosted by a motivated seller is far worse than being ghosted on a date
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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
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@HouseBuyerDude
I do the exact same, I end up going direct to the seller if agent ignores for over 2 weeks
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The cold call 📞
Has anyone stumbled upon a life changing product recently that they can't stop recommending?
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2 more callers starting tomorrow 📞
Planning to be disgustingly busy with offers and deals
Will start looking for another acquisition manager soon
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Is Opendoor even a profitable business?
Every seller I talk to who gets an offer from them is either selling to them at or over market value
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Email from one of my main closing attorneys this morning regarding wholesale in South Carolina
Time to adapt - Not leaving this market, instead, going to switch up our style and what we do here
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Some of the best accounts I’ve run into on here with top-notch information:
@_apryor
@coleruudjohnson
@themikegarry
@HeyWilliamSalas
@maxfisherRE
@ResilientRei
@RealLifeRentals
@TheJSantiago
@realEstateTrent
@CaseyMericle
@MultifamilyMad
Make sure to follow them! 👆
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I’ve called 20 agents today and probably got about 5 responses
If you don’t answer your phone when opportunity calls, I hate you
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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
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