June 4, 2024 • 36 mins
Can understanding the fundamentals of real estate wholesaling transform your investment strategy? Join us as we sit down with Marcus Harvey from Property Relief LLC, a seasoned expert who shares his insights on navigating the current real estate market. From identifying hot markets to analyzing the competition, Marcus provides a roadmap for aspiring wholesalers to boost their success. He emphasizes the importance of market research and understanding housing trends, equipping you with the knowledge to thrive in the fast-paced world of real estate wholesaling.
Ever wondered if direct mail still holds power in the digital age? Discover the secrets behind effective marketing strategies for uncovering real estate opportunities, especially in distressed properties. Marcus delves into the practicalities of "driving for dollars" and shares real-life examples that highlight the importance of hands-on methods. Networking plays a pivotal role in uncovering off-market deals, and Marcus's stories illuminate how one strategic contact can multiply your opportunities exponentially. With an emphasis on evaluating properties accurately, you'll gain the skills to spot those hidden gems in your local area.
Closing deals with confidence and precision is key to successful wholesaling. Marcus breaks down the essential tips and strategies for managing property transactions, from performing thorough due diligence to negotiating contracts. Building and maintaining a robust buyer's list is crucial, and platforms like PropStream can be invaluable tools in this process. Marcus also stresses the importance of nurturing relationships with property buyers, ensuring meticulous coordination between all parties involved. Whether you're a seasoned investor or just stepping into the world of wholesaling, this episode is packed with actionable advice to elevate your real estate game.
Podcast Intro
Propstream
PropStream is real estate data and analytics platform where investors can get an abundance of info .
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Welcome everybody to the Professors Real Estate
Investing Podcast.
I'm with the Property ReliefLLC, mr Marcus Harvey.
How you doing today, bro.
Speaker 2 (00:11):
Hey, what's happening Just here for another good
episode with you.
Speaker 1 (00:15):
Oh, yes, yes, indeed.
Yeah, this one is going to beabout wholesaling.
And I figured about the onewith wholesaling is because me
and you've been talking a lotabout wholesaling and a lot of
people probably don't even knowwhat wholesaling is, and you
know the way our housing, uh,the way the housing is here in
the united states.
I mean it's, it's ridiculous.
So you want to work one aboutwhat can you do with all those
(00:37):
abandoned homes, those ones thatare boarded up, uh, empty lots.
Yeah, this is a this is goingto be a good one, good topic for
everyone out there.
Speaker 2 (00:50):
Indeed it is, let's get to it.
Speaker 1 (00:52):
Okay, all right.
The first part of it about thestep-by-step to real estate
wholesaling in today's marketwould be the market research
analysis, basicallyunderstanding the trends,
identifying the hot markets.
Analyze the competition, butespecially the understanding the
trends identifying the hotmarkets.
Analyze the competition, butespecially the understanding,
the current trends, because realestate it goes in waves of how
everything goes from a housingsupply, the demand, interest
(01:15):
rates, um economic uh conditionsand everything.
Speaker 2 (01:22):
Yeah, um, that's like the first step.
You got got to know your market, you got to analyze the market.
You got to see what's going onout there.
If you're going to try towholesale, that's like the first
step.
You got to do the marketresearch, got to see what's
going on, what kind ofproperties that are out there.
(01:44):
Um, you know, um, what is it?
See, identify hot markets.
You got to get to the marketswhere the flippers are at.
So if you want to try to find awholesale deal, you know, go to
the area that go, go to theneighborhoods where the flippers
are flipping at, because morelikely they're going to want to
buy more houses in that area.
They're already flipping in thearea.
(02:04):
So kind of just get a feel forwhat's going on.
Speaker 1 (02:08):
Yeah.
And then it says that the partwith the analyze competition,
you want to study what otherwholesalers are doing when, when
they hit these tight targetmarkets, because you want to
kind of you know, not gostep-by-step with them, but you
can put your own little twist onthem.
But you want to know how.
You know that's how life goes.
(02:29):
You want to know how you doabout your own way.
So it opens and broadens upyour mind.
Yeah.
Speaker 2 (02:36):
Exactly, exactly.
You just want to be able tojust like try to see what
they're doing, kind of connectwith them professionally.
Don't make it too much of acompetition, because you know
there's always going to be otherwholesalers in your market and
other markets.
So just kind of just, you know,check out what's going on by
(03:01):
talking with them.
Just know that you know it's anumbers game.
So the deal that you don't get,maybe they do get, and the ones
that they don't get, or havinga hard trouble closing, you'll
maybe end up getting.
So you know, basicallyanalyzing the competitions, see
(03:22):
who's really, you know, doingwholesaling out there in your
area, in your market, and justmaking sure you find
opportunities to help each other.
Speaker 1 (03:34):
Exactly and then figuring out what trends and
everything going on with theother wholesalers.
That brings us to the next stepof building your network.
How do you build your network?
There's plenty of ways ofbuilding your network.
How do you build your network?
There's plenty of ways ofbuilding your network.
First, the easiest way, off topof the head real estate agent.
Because they know exactlywhat's going on with the market.
(03:55):
You could ask them exactly likewhat area are they good at,
knowledgeable at?
If anything comes about?
That's how a lot of thewholesalers and investors get
connected is by real estateagents, because they usually
have like off-market deals, andoff-market deals help out huge.
That's where the ones wherebasically off-market deal is
(04:16):
basically something that hasn'thit the market or might be
hitting the market soon, and ifsomeone would like that, that
investment or that property,it's fair game.
And then with also joining realestate groups.
Yeah, exactly yeah.
(04:38):
Partner with real investors,connect with other.
Connecting with other investors.
It helps out a whole lot.
Well, you know, philip, youknow just like, with how you do
it too, you make a list of thecash buyers.
You basically synchronizeeverything that's going on.
Be like okay, this person's acash buyer, what is he looking
for?
Stipulations as to if they wanta three-bedroom or a
(05:01):
four-bedroom house, a house witha pool or if it's an empty lot.
There's many factors that comeinto play with the wholesaling.
Speaker 2 (05:10):
Yeah, I usually go sometimes, like I was telling
you before, just to thecourthouse looking at who's
buying those foreclosure trusteesale properties and stuff like
that.
I try to connect with thoseinvestors, try to get a feel,
get their information, get afeel for what they're looking
for.
So that's like one of the waysI, you know, kind of build my
(05:32):
network with, you know, goingout of the courthouse and you
know, just to see who's showingup by those foreclosure,
foreclosure properties that aretrustee sales.
Speaker 1 (05:41):
So yeah, that's right .
I forgot about that part rightthere going to the courthouse,
because usually you know,especially where we live at it's
, I believe, still everyThursday that those ones, those
houses, are in foreclosure.
So there's this basic cashbuyers up there and they already
done their homework as to whatproperties are going to be going
(06:02):
to be offered up there.
So that's a great way toleverage your time and your
energy by going up there talkingto other investors, wholesalers
and real estate agents, as Isaid before, because networking
is key.
Your network is your net worth,so it's always that's so true
(06:23):
when it comes about it.
And then the next part.
Speaker 2 (06:27):
Go ahead, you got it.
No, I was just going to sayyeah, because you want to be in
the game and you want to beplaying the game and letting
other people know that you'reout here.
You know to to look for dealsjust as well as they're you know
like they're looking for deals,so you know.
That's all I wanted to to say.
Speaker 1 (06:43):
You just want to let people know that you're in the
game, so yes, exactly yeah,because you get a familiar face
and then you know the next timeyou come up there, just like a
foreclosure, the next followingmonth or the next following week
, and then it's like I recognizeyour face, you get a
conversation.
Speaker 2 (06:58):
That conversation can go a long ways oh yeah, for
sure, for sure, so, just always,so just always.
Gotta, you know, stay connected, let people know you're in the
game and just be well informed,you know, be well informed, um,
uh, who, what groups are joiningand who you're, you know,
partnering up with as far as, asfar as building your, you know,
(07:19):
building your network.
Speaker 1 (07:22):
Yes, all right.
The next one is, uh, findingprofitable deals.
So on this part, right here,there's different ways how to go
about it, especially, you know,we.
We're in a special generationof everything just fast to our
fingertips.
Um it says uh, it says directmail campaigns, but a lot of
(07:42):
people I know some people stilldo it, but a lot of people I
know some people still do it,but a lot of people.
Basically everything online.
You go to your Zillow Zillow,you go to your realtor dot com,
you go to your Craigslist, yougo to your auction sites.
There's, there's actually tonsand tons of sites, when it comes
to this, that you can look ator that you don't even really
have to pay for.
You can just look at and belike OK, and then you get the
(08:03):
information that you need Rightto pay for.
Speaker 2 (08:05):
You can just look at and be like okay, and then you
get the information that youneed um right.
Speaker 1 (08:08):
Yeah, would you add something to that?
Real quick, I need to get youoff.
Speaker 2 (08:11):
No, you're good, you're good.
I was just gonna say, uh, yeah,the direct snail mail is still.
You can still do that.
But with everything I ai andonline nowadays everything's so
streamlined nowadays I think theonly thing for direct mail now,
if you want to do it, is a wayto kind of like stand out than
you know, just a regular littlejunk mail flyer or something.
(08:50):
I would still, you know,consider doing direct mail just
to have it out there I wouldn'tkeep spending a whole bunch of
money on it.
But to make it more personaland to kind of stand out from
the crowd, it's a good way, Ithink, to still, you know, every
once in a while, do direct mail.
Speaker 1 (09:09):
That's what I was actually.
Yes, yeah.
And I was going to say also too,because the direct mail still
works.
I remember one time, a littlebit over a year ago, me and
Rocky we looked at a house.
We could tell there wasdistress and I was able to get
the address for him.
And that address worked.
It actually worked.
Uh, he mailed a.
(09:30):
He mailed a letter to a, uh,the lady who owned the house in
texas, and the lady from texasactually responded back to him.
So it it does work.
It does work.
I just said like, since we havethis fast, fast, instant
generation right now, a lot ofpeople you know they deal with
the, the emails, and they goabout everything on the websites
(09:51):
yeah, direct mail is like, youknow, you can still get down
with that.
Speaker 2 (09:58):
but with everything where, with everything's going
now with ai and internet andstuff like that, it's just it's
slow, it's slow campaigning.
Um, you want to be able to uh,stay ahead of the game.
Like I said, with direct mailpeople want to, like, maybe
stand out from the rest of thecrowd, so they'll still kind of
do that.
But and it's, you can make itmuch more personable, uh, for
(10:22):
who you're mailing it to.
But still, it doesn't beatInternet texting, email calling,
direct, you know cold calling.
So you know, because you wantto get, to get to these owners
before anybody else does.
That's the name of the game.
Just talk to as many owners aspossible every single day before
everyone else does.
Speaker 1 (10:43):
Yes.
And then the next one I liketoo is like me and you, what
you've done we're probably goingto spend a day doing it is
driving for dollars, and that'shuge, because the driving for
dollars, like you know, when ahouse is distressed you know
when a house is distressed, onesthat are boarded up or they're
just not not maintained at alluh, basically, you know doing
(11:04):
your homework at get the address.
You know zip code, make surethe zip code is right, the
address is right, and then doyour research as to what's going
on with that property.
Speaker 2 (11:13):
Absolutely.
Yeah, driving for dollars islike a crucial, especially in
like the areas that we live inhere, right here in Shasta and
Tehama, right here it's, likeyou know, a new property could
go into like distress mode, likejust instantly.
Like you know, around heresomeone can move out instantly
(11:33):
and then just it not beingadvertised already, you can jump
on it first.
You know you can be able toreach out to the owner first.
If you see tall grass or if yousee houses boarded up and just
a distressed looking property,you could be one of the ones
that can just jump on it beforeany other wholesaler or any
other real estate agent will tryto jump on it.
(11:55):
So it's, driving for dollars isa really good way Going to need
some gas, but it's a good way toget property leads, you know,
other than just sitting on likeyou know website trying to look
up you know vacants and stufflike that, because they you know
databases and stuff have somuch information you don't know
(12:18):
what's new and what's old, soyou want to stay fresh.
You know you filter out what'snew, but you want to stay fresh
by driving for dollars to see oh, I see this person's got a
U-Haul in the driveway.
It looks like they're gettingready to move.
House looks in distress.
Write down the address you know.
Speaker 1 (12:34):
Yes, yes.
And then the last one is inthis category right here
Networking.
Leverage your connections tofind off market deals through
word of mouth.
Word of mouth still goes a longways nowadays.
I mean it goes seriously fast,because you could just that one.
It's always been taught to methat one person can change your
(12:56):
whole life.
It can change your whole lifewhen you're talking to the right
person, because that rightperson can leave you to so many
different channels, so muchprogression in your life.
Speaker 2 (13:05):
Yeah, it's just because you don't know who they
know.
So meeting someone new, meetingnew connections and being able
to network to be able to findthese deals, you know, is just
an awesome way to be able tokeep business going.
You know what I mean.
You want to be able to networkto be able to keep business
(13:26):
going and be professional whenyou network always, you know.
Speaker 1 (13:31):
Yes, the next one is the evaluating properties, which
is definitely huge, because meand you've talked about this a
lot.
When it comes to properties,yeah, it may be boarded up, but
uh, for instance, an example,the one house that we was
talking about when I seen youthis past weekend, uh, remember
(13:51):
how we first went to it.
Yeah, it was smashed windowseverywhere, some of the spots
was boarded up, but then we wentto the side of the backyard and
the whole plumbing was allmessed up.
That's just a whole, completemess and I was like goodness,
what is this?
So yeah, so, uh, perform yourdue diligence, um, conduct your
(14:12):
research on each property,including title searches, zoning
laws, um, uh, potential liens,uh, even even to this is huge.
Also, being a real estate agent, make sure you know where the
property line is at, becausesometimes that property line you
may think that's the propertyline it could be something else.
(14:33):
It could be either wider or itcould be shorter.
So that's a good way of findingout, like, make sure you know
exactly where the property linesare at.
Speaker 2 (14:42):
Yeah, you got to know where your boundaries are at.
You got to know where theproperty ends, where it begins
Very important.
Got to do due diligence, youknow, making sure when you go
through these properties,checking out for zoning, making
sure to see what otheropportunities you can be able to
(15:04):
make best use of the property.
You want to do all that.
You want to estimate therepairs, which is our next one.
You know people that are tryingto wholesale kind of get caught
up a little bit on how toaccurately try to, you know,
estimate the repairs on theirown versus having a contractor
(15:26):
come out and give you a bid togive you an idea you know what I
mean of what it's going to cost.
So when you're first gettingstarted, it's kind of hard to a
little bit estimate repairs.
So that's when you got toreally sit down and you got to
go to maybe a Lowe's or HomeDepot and start pricing stuff
and start saying, okay, well,this is what these prices are
(15:46):
for doing drywall or repairingtile or whatever it may be.
You want to get familiar withestimating repairs and that's
all included with doing duediligence, performing your due
diligence, your due diligence aswell, looking at the property,
(16:07):
like you said, finding out wherethe property lines are and
going from there, yeah, and theone to the next one.
Speaker 1 (16:17):
it says that the calculate the potential market
value of the property afterrepairs are made.
Says that the calculate thepotential market value of the
property after repairs are made.
That's huge, because you justwant to, you, you want to make,
uh, uh, some type of profit whenit, when it comes.
You want to make some type ofprofit, and it's a lot of it.
Um, a lot of it comes to youjust being knowledgeable, being
(16:40):
around the right people.
Knowledgeable, uh, they cantell you the ins and outs
because, like you said, you cango to home depot, you go.
A lot of it comes to you justbeing knowledgeable, being
around the right people.
Knowledgeable, they can tellyou the ins and outs because,
like you said, you can go toHome Depot, you go to Lowe's,
you could just spend a grip ofmoney unnecessarily when you
didn't have to.
So a closed mouth doesn't getfed.
You got it.
You got to talk.
You got to surround yourselfwith the people that are in the
(17:01):
same niche as you.
Speaker 2 (17:09):
And hey, from that point on, right there,
everything, everything is goingto go good from that point.
Oh, yeah, yeah, you, just aslong as you're taking it step by
step, you're, you know, afterrepair value is very important
because you got to be able to,you know, calculate what your
profit is going to be after you,you know, do all your repairs,
if you need to do repairs,that's a very important number
(17:30):
to determine when you'rewholesaling, like that's really
important because you know yougot to figure out what your
profit is going to be, whereyour spread lies, you know as
far as a wholesaler.
So, really, running the numbers, which is the next one, using
the wholesaling formula,everybody uses like 70%, or some
people use 60 or 65, justdepending where you're at.
(17:51):
But you know, calculating whatARV, or determining, I should
say, arv, and then running yournumbers with whatever percentage
you want to run, minus yourrepair costs, is going to become
your MAO.
So you have to know whatnumbers you're going to run to
(18:13):
be accurate as possible.
Speaker 1 (18:16):
Yeah, that's a great formula right there that they
use for the wholesaling formulathat the ARV times 70% repair
costs equals the maximumallowable offer.
And then negotiating,negotiating, securing contracts.
That's very huge, because nowwe're talking about
documentation.
We're talking aboutdocumentation on these
(18:37):
properties and everything.
So that's when it comes tonegotiating with the sellers
that have a clear understandingof their needs and present a
win-win offer.
You use assignment contracts,ensure that you have a solid
contract that allows you toassign the property to an end
buyer, and then includecontingencies.
(19:00):
Add contingencies to yourcontract, such as inspection
periods and financing financingterms to protect yourself.
These are all these.
These three are all keys tohelp negotiating securing
contracts because, when it comesdown to besides buying it, you
want to make sure everythingthat is contractual and that is
dealt with in a professionalmanner that is contractual and
(19:24):
that is dealt with in aprofessional manner.
Speaker 2 (19:25):
Yeah, yeah, you want to make sure you have all your
contracts straight.
You want to make sure whenyou're negotiating with the
seller that you're coming to,you're coming, both are coming
to an agreeable number whereit's beneficial for both parties
.
Yeah, never forget like anycontingencies that need to be
added to the contract.
You want to be detailed.
You want to be thorough whenyou're wholesaling properties,
(19:48):
when you, when you're trying tobe a wholesaler and you're going
through, talking to sellers andgoing through these properties,
you want to try to be asthorough as possible.
That way no one feels like, atthe end of the day, they're
being cheated, you know, on thedeal yes, exactly, all right.
Speaker 1 (20:06):
And then the next one is a building a buyer's list,
just like you're showing me.
On saturday you have to buy abuyer's list and everything.
A great platform for all thisis prop stream.
Prop stream is great at gettingcontact information.
There's so much on it.
Actually, I am working onhaving PropStream on the podcast
(20:29):
to show everybody what exactlywhat's involved with PropStream
because they are, I want to say,the best when it comes to if a
person is not a, if you're not areal estate agent, even if you
are a real estate agent likePropStream has so much valuable
(20:49):
information that you can use,especially with investing.
It's crazy how much that theyhave.
Speaker 2 (20:53):
Yeah, propstream I definitely recommend.
I'm sure, like all the experts,all the people that are doing
wholesaling and doing othertypes of deals, they're using
PropStream to their advantage tolook up data and stuff like
that.
So I definitely recommendPropStream just because, like,
I've used other softwareplatforms and other databases
(21:14):
and PropStream is really easy touse and they have a lot of good
features that I've seen thatother other platforms don't have
, other data databases don'thave.
So, yeah, shout out toPropStream.
Speaker 1 (21:29):
Oh, amen, amen.
And then another one that comesto this building buyers list.
I like that last one.
It says maintain relationshipsregularly, update your buyer and
new deals and your markettrends.
That's huge right there.
And then it stayed, and thenstayed in contact with them.
You know, just maybe do aweekly call, or every two weeks
(21:50):
a call, just just showing yourpresence, them hearing you, or
just calling them or seeing them.
It helps out a whole lotbecause they know that you're on
board, like okay, this personis serious as to as to getting
some proper helping me get someproperties.
This is not, it's not going towaste my time.
Time is a value I can't get.
I can't gain that time back.
Speaker 2 (22:11):
Yep, yep.
So, like you know, uh, maintainrelationships.
Um, they're very important.
Like, uh, I was showing you,like you said, saturday I was
showing you my buyers list.
So I'm always trying to updatethat thing because, like there's
always it seems like there'salways every few weeks or every
month or two months there's anew buyer to coming into this
(22:32):
area, paying cash, and, um, it'simportant just to get their
information because you want to,as a wholesaler, be able to
move properties to them.
Speaker 1 (22:41):
So, yes, you are, and then let's do the.
When it comes to another stepof it is marketing deals.
Create attractive listings.
The more attractive the listingis, the better, and the better
that attractive listing is themore that you can get it under
contract.
(23:01):
Better that attractive listingis, the more that you can get it
under contract.
Right, investors, investorsthey love especially properties
that they don't have to workmuch on.
They can just basically flip it, yeah if it doesn't have much
work to do it.
Speaker 2 (23:13):
Oh man, that's, that's beautiful, that's a
diamond in the rough for themyeah, those, those type of
properties are wonderful becauseyou just, you know the newer,
more more likely wholesalingyou're going to be dealing with
sometimes work.
That's even wonderful.
That's even more, you know,more beautiful of the situation
(23:45):
because, um, that, uh, thatfixing flipper doesn't have to
do much so you can move a nicelight cosmetic fixer to a fixing
flipper and it'll love you.
Speaker 1 (23:56):
Oh, yes, yeah, and then.
And then I'll be like then thenwhat are you doing?
You just growing a relationshipright there, you're growing a
relationship right there, you'regrowing a relationship right
there.
Now they're like okay, I candepend on this person.
He knows what I'm looking for.
And if he doesn't, on certainones, then I can just tell him
like hey, this is what I'mlooking for at this time period.
So yeah, that relationshipworks out, it'll work out great
(24:18):
for both parts.
Yeah.
And then the next one Because Iknow you come across someone
you're like closing the deal.
Then they just want to act up.
Speaker 2 (24:34):
Yeah, yeah, you see that a lot.
You know you've got to.
You've got to get to the tablefirst and make sure everything's
straight before you get toohappy.
Speaker 1 (24:43):
Yes, this is closing the deal.
Coordinate with all parties.
Work closely with the seller,the buyer and title company to
ensure a smooth closing process.
It says double-check paperwork.
Ensure all contracts and legaldocuments are correctly filled
out and signed correct.
Collect your fee uponsuccessful closing.
(25:05):
Collect your assignment feefrom the end buyer.
All those you want to make sure, everything you want to make
sure those.
I want to make sure those i'sare dotted and those t's are
crossed at the time, like, say,if at the very beginning, if
you're looking for something,and if they look at and if you
get into contract, because theway that you have the wholesale
contracts, I would even say thatto this point where I mean it's
(25:28):
contractual, but I even haven'tnotarized, because having a
notarized that's a that's,that's a public officer Like you
got to think just just anythingin real estate has to be
notarized.
Without a notarization, thatreal estate process doesn't
happen, it doesn't close withouta notary.
So yeah, if, if you want, ifyou, if you feel that you might
(25:51):
set, that you might need, likeyou know, I'm gonna get this
notarized.
So be it as long as you feelcomfortable with it.
But make sure you have a goodcommunication with the, with the
, with the seller, the buyer,the title company, because the
title company holds everything.
And that's a good place to findout, especially with the title
company, is to find out also,too, with the, with the property
(26:14):
lines.
That's another, that's another,that's a.
They're a great resource tofind out, like, okay, where's my
property line?
I just want to make sure thisis accurate and then you find
out if it's just on point, ifit's too small or it's too small
or it's it's too big.
So they have all that.
They have each for each, eachparcel in real estate the title
(26:38):
companies has basically, I callit the whole, they have the
whole DNA of that property.
Speaker 2 (26:43):
Yeah, they do, like you want to be able to.
You just basically verify.
You know you want to verify allinformation that you've
gathered about it, that youfound online, that you, you know
, gotten through an email, allthe square footage, your
property line zoning, what isthe property zone, just
(27:05):
everything.
You just kind of want to bedetailed that way.
You know, you know what you'regetting into, you know, you know
what kind of property you haveand, as a wholesaler, you know
just that basic informationyou're supposed to have anyway.
You know, so you can be able toprovide it for the investor
because they might ask thosequestions.
You know how big is the lotsize and what's the square
(27:27):
footage, of course, of thestructure.
And you know just, just, yeah,you got to have everything
together.
Speaker 1 (27:35):
Yeah, and then the more you have it, the more
comfortable you'll be too, soyou don't have to dig around and
do more research.
Right, yeah, exactly.
Speaker 2 (27:45):
Yeah.
Speaker 1 (27:45):
Yeah, so the four tips of wholesaling in a
competitive market.
It breaks it down to a smallersection Stay educated, be
flexible, leverage technology,provide value.
You do these four steps, youcan be definitely productive in
wholesaling.
Because I wanted to bring thistopic out, because this is this
(28:10):
is this is your, this is yourniche, right here.
Speaker 2 (28:13):
Yeah this is, yeah, this is what I'm working on.
I'm eventually going to beventuring to other strategies,
of course, because I want to bewell rounded.
But yeah, this starts withwholesaling because, you know,
brand new trying to get in,trying to get deals done, trying
to raise capital to be able todo other deals done, trying to
(28:35):
raise capital to be able to doother deals and, you know, just
utilize other creative financingstrategies.
So I'm just trying to reallynail down wholesaling and be
able to hopefully have this onautopilot, you know once I get
you know the process down on howit goes.
So, yeah, definitely, and thething about the thing about
wholesaling too, is autopilot.
You know, once I get you knowthe process down on how it goes.
Speaker 1 (28:53):
So, yeah, definitely.
And the thing about the thingabout wholesaling, too, is it
takes zero dollars.
A lot of people think it takes,uh, it takes.
When it comes to uh andwholesaling, it takes.
It takes a lot of money, ittakes zero dollars.
You get that right property,get it under contract.
You just you like it's like yousaid, you're leveraging, you're
(29:16):
leveraging yourself right now,and then you just keep on going.
You just keep on pushing, thenyou'll get something better,
then get something better, thenget some bad, and it just you
just keep on going, keep ongoing up in steps yeah,
utilizing the free resourceswhen you're wholesaling is just
crucial because people don'thave a lot of money to start out
in business, in any business.
Speaker 2 (29:37):
So when you're doing this from home, you're probably
going to spend a few dollars,but you don't have to spend
startup costs like you would.
A normal business no-transcriptthe process yeah, you're going
(30:20):
to need like 10 bucks, a hundredbucks to hold it for, you know,
to bind the contract andwhatnot.
You know good faith deposittype of thing.
So other than that, yeah,you're right man, you don't
really need any money.
You could just start lookingand start utilizing, if you can,
free resources and stuff tolook up information, if you can.
(30:43):
Sometimes it's kind of hard,but if you can do public records
when you're starting, then youcan find certain information.
It's kind of hard to findupdated phone numbers, so you
might have to pay or skip tracesometimes and pay for that
service.
But other than that, if you canutilize free resources that are
around you, you can get a dealdone.
(31:05):
You could definitely get a dealdone.
Speaker 1 (31:08):
Oh yes, nice yes.
From the Property Relief LLC,mr Wholesale himself.
Oh yes, nice yes.
From the property relief llc.
Speaker 2 (31:14):
Mr wholesale himself I'm trying to get this wholesale
process down so I can move onto bigger and better and other
strategies, because I want tolearn all of them.
But I gotta figure out thiswholesale thing down or get this
wholesale uh process down soyou know, be able to utilize it
(31:35):
as much as possible.
Everybody's got their ownopinion about where you should
start in real estate.
Most people say wholesalingbecause, like normally, people
get involved in wholesalingfirst.
From what I hear in researching, you know, in my real estate
journey, so you know why notjust start off there.
Um, you know, low budget statusright now we have no budget, so
(31:58):
we got a wholesale.
Speaker 1 (32:02):
All right, all right, and then what's the best way
for everybody to get in touchwith you then?
Speaker 2 (32:08):
Okay, so, once again, property relief LLC, that's the
company.
My email is propertyreliefbizat gmailcom.
If you want to text me or reachout and call me, if you're
watching the video, it's530-366-2116.
Send me a text, send me a callif you want to six, send me a
(32:31):
text.
Send me a call If you want to,um, we can talk about it.
If you've got a deal you wantto, you know, link up and maybe
do a transaction, we can do that.
So, yeah, just uh, get at me um, instagram to property relief
LLC on Instagram.
Speaker 1 (32:43):
So All right, yeah, and especially in a direction
you live in.
There's tons and tons of homesthat can be dealt with,
especially coming withwholesaling.
There's a lot of propertiesright there where you're around.
Speaker 2 (32:55):
Yeah, this is a good little area.
It's, you know, a little bittapped, but not really tapped.
Speaker 1 (33:02):
Yeah, exactly.
Speaker 2 (33:03):
But there's good.
There's good deals out here.
There's a good group ofinvestors and flippers out here,
so just need to be able to bepatient and work on deal flow
and get deals going, becausethat's what it's about to
getting your first deal goingand then being able to have deal
flow come in, because you justdon't want to stop after that
(33:25):
first deal closes.
Speaker 1 (33:27):
Got to have something else lined up.
Exactly right, All right then,world.
Speaker 2 (33:33):
Mr Got to have something else lined up, exactly
Right.
Speaker 1 (33:34):
All right then world Until next time.
Speaker 2 (33:37):
Until next time.
Speaker 1 (33:38):
Oh, yes, indeed, and world, we're about to have a
blessed week coming up and we'llsee you next week.
All right, peace.
Welcome everybody to the Professors Real Estate
Investing Podcast.
I'm with the Property ReliefLLC, mr Marcus Harvey.
How you doing today, bro.
Speaker 2 (00:11):
Hey, what's happening Just here for another good
episode with you.
Speaker 1 (00:15):
Oh, yes, yes, indeed.
Yeah, this one is going to beabout wholesaling.
And I figured about the onewith wholesaling is because me
and you've been talking a lotabout wholesaling and a lot of
people probably don't even knowwhat wholesaling is, and you
know the way our housing, uh,the way the housing is here in
the united states.
I mean it's, it's ridiculous.
So you want to work one aboutwhat can you do with all those
(00:37):
abandoned homes, those ones thatare boarded up, uh, empty lots.
Yeah, this is a this is goingto be a good one, good topic for
everyone out there.
Speaker 2 (00:50):
Indeed it is, let's get to it.
Speaker 1 (00:52):
Okay, all right.
The first part of it about thestep-by-step to real estate
wholesaling in today's marketwould be the market research
analysis, basicallyunderstanding the trends,
identifying the hot markets.
Analyze the competition, butespecially the understanding the
trends identifying the hotmarkets.
Analyze the competition, butespecially the understanding,
the current trends, because realestate it goes in waves of how
everything goes from a housingsupply, the demand, interest
(01:15):
rates, um economic uh conditionsand everything.
Speaker 2 (01:22):
Yeah, um, that's like the first step.
You got got to know your market, you got to analyze the market.
You got to see what's going onout there.
If you're going to try towholesale, that's like the first
step.
You got to do the marketresearch, got to see what's
going on, what kind ofproperties that are out there.
(01:44):
Um, you know, um, what is it?
See, identify hot markets.
You got to get to the marketswhere the flippers are at.
So if you want to try to find awholesale deal, you know, go to
the area that go, go to theneighborhoods where the flippers
are flipping at, because morelikely they're going to want to
buy more houses in that area.
They're already flipping in thearea.
(02:04):
So kind of just get a feel forwhat's going on.
Speaker 1 (02:08):
Yeah.
And then it says that the partwith the analyze competition,
you want to study what otherwholesalers are doing when, when
they hit these tight targetmarkets, because you want to
kind of you know, not gostep-by-step with them, but you
can put your own little twist onthem.
But you want to know how.
You know that's how life goes.
(02:29):
You want to know how you doabout your own way.
So it opens and broadens upyour mind.
Yeah.
Speaker 2 (02:36):
Exactly, exactly.
You just want to be able tojust like try to see what
they're doing, kind of connectwith them professionally.
Don't make it too much of acompetition, because you know
there's always going to be otherwholesalers in your market and
other markets.
So just kind of just, you know,check out what's going on by
(03:01):
talking with them.
Just know that you know it's anumbers game.
So the deal that you don't get,maybe they do get, and the ones
that they don't get, or havinga hard trouble closing, you'll
maybe end up getting.
So you know, basicallyanalyzing the competitions, see
(03:22):
who's really, you know, doingwholesaling out there in your
area, in your market, and justmaking sure you find
opportunities to help each other.
Speaker 1 (03:34):
Exactly and then figuring out what trends and
everything going on with theother wholesalers.
That brings us to the next stepof building your network.
How do you build your network?
There's plenty of ways ofbuilding your network.
How do you build your network?
There's plenty of ways ofbuilding your network.
First, the easiest way, off topof the head real estate agent.
Because they know exactlywhat's going on with the market.
(03:55):
You could ask them exactly likewhat area are they good at,
knowledgeable at?
If anything comes about?
That's how a lot of thewholesalers and investors get
connected is by real estateagents, because they usually
have like off-market deals, andoff-market deals help out huge.
That's where the ones wherebasically off-market deal is
(04:16):
basically something that hasn'thit the market or might be
hitting the market soon, and ifsomeone would like that, that
investment or that property,it's fair game.
And then with also joining realestate groups.
Yeah, exactly yeah.
(04:38):
Partner with real investors,connect with other.
Connecting with other investors.
It helps out a whole lot.
Well, you know, philip, youknow just like, with how you do
it too, you make a list of thecash buyers.
You basically synchronizeeverything that's going on.
Be like okay, this person's acash buyer, what is he looking
for?
Stipulations as to if they wanta three-bedroom or a
(05:01):
four-bedroom house, a house witha pool or if it's an empty lot.
There's many factors that comeinto play with the wholesaling.
Speaker 2 (05:10):
Yeah, I usually go sometimes, like I was telling
you before, just to thecourthouse looking at who's
buying those foreclosure trusteesale properties and stuff like
that.
I try to connect with thoseinvestors, try to get a feel,
get their information, get afeel for what they're looking
for.
So that's like one of the waysI, you know, kind of build my
(05:32):
network with, you know, goingout of the courthouse and you
know, just to see who's showingup by those foreclosure,
foreclosure properties that aretrustee sales.
Speaker 1 (05:41):
So yeah, that's right .
I forgot about that part rightthere going to the courthouse,
because usually you know,especially where we live at it's
, I believe, still everyThursday that those ones, those
houses, are in foreclosure.
So there's this basic cashbuyers up there and they already
done their homework as to whatproperties are going to be going
(06:02):
to be offered up there.
So that's a great way toleverage your time and your
energy by going up there talkingto other investors, wholesalers
and real estate agents, as Isaid before, because networking
is key.
Your network is your net worth,so it's always that's so true
(06:23):
when it comes about it.
And then the next part.
Speaker 2 (06:27):
Go ahead, you got it.
No, I was just going to sayyeah, because you want to be in
the game and you want to beplaying the game and letting
other people know that you'reout here.
You know to to look for dealsjust as well as they're you know
like they're looking for deals,so you know.
That's all I wanted to to say.
Speaker 1 (06:43):
You just want to let people know that you're in the
game, so yes, exactly yeah,because you get a familiar face
and then you know the next timeyou come up there, just like a
foreclosure, the next followingmonth or the next following week
, and then it's like I recognizeyour face, you get a
conversation.
Speaker 2 (06:58):
That conversation can go a long ways oh yeah, for
sure, for sure, so, just always,so just always.
Gotta, you know, stay connected, let people know you're in the
game and just be well informed,you know, be well informed, um,
uh, who, what groups are joiningand who you're, you know,
partnering up with as far as, asfar as building your, you know,
(07:19):
building your network.
Speaker 1 (07:22):
Yes, all right.
The next one is, uh, findingprofitable deals.
So on this part, right here,there's different ways how to go
about it, especially, you know,we.
We're in a special generationof everything just fast to our
fingertips.
Um it says uh, it says directmail campaigns, but a lot of
(07:42):
people I know some people stilldo it, but a lot of people I
know some people still do it,but a lot of people.
Basically everything online.
You go to your Zillow Zillow,you go to your realtor dot com,
you go to your Craigslist, yougo to your auction sites.
There's, there's actually tonsand tons of sites, when it comes
to this, that you can look ator that you don't even really
have to pay for.
You can just look at and belike OK, and then you get the
(08:03):
information that you need Rightto pay for.
Speaker 2 (08:05):
You can just look at and be like okay, and then you
get the information that youneed um right.
Speaker 1 (08:08):
Yeah, would you add something to that?
Real quick, I need to get youoff.
Speaker 2 (08:11):
No, you're good, you're good.
I was just gonna say, uh, yeah,the direct snail mail is still.
You can still do that.
But with everything I ai andonline nowadays everything's so
streamlined nowadays I think theonly thing for direct mail now,
if you want to do it, is a wayto kind of like stand out than
you know, just a regular littlejunk mail flyer or something.
(08:50):
I would still, you know,consider doing direct mail just
to have it out there I wouldn'tkeep spending a whole bunch of
money on it.
But to make it more personaland to kind of stand out from
the crowd, it's a good way, Ithink, to still, you know, every
once in a while, do direct mail.
Speaker 1 (09:09):
That's what I was actually.
Yes, yeah.
And I was going to say also too,because the direct mail still
works.
I remember one time, a littlebit over a year ago, me and
Rocky we looked at a house.
We could tell there wasdistress and I was able to get
the address for him.
And that address worked.
It actually worked.
Uh, he mailed a.
(09:30):
He mailed a letter to a, uh,the lady who owned the house in
texas, and the lady from texasactually responded back to him.
So it it does work.
It does work.
I just said like, since we havethis fast, fast, instant
generation right now, a lot ofpeople you know they deal with
the, the emails, and they goabout everything on the websites
(09:51):
yeah, direct mail is like, youknow, you can still get down
with that.
Speaker 2 (09:58):
but with everything where, with everything's going
now with ai and internet andstuff like that, it's just it's
slow, it's slow campaigning.
Um, you want to be able to uh,stay ahead of the game.
Like I said, with direct mailpeople want to, like, maybe
stand out from the rest of thecrowd, so they'll still kind of
do that.
But and it's, you can make itmuch more personable, uh, for
(10:22):
who you're mailing it to.
But still, it doesn't beatInternet texting, email calling,
direct, you know cold calling.
So you know, because you wantto get, to get to these owners
before anybody else does.
That's the name of the game.
Just talk to as many owners aspossible every single day before
everyone else does.
Speaker 1 (10:43):
Yes.
And then the next one I liketoo is like me and you, what
you've done we're probably goingto spend a day doing it is
driving for dollars, and that'shuge, because the driving for
dollars, like you know, when ahouse is distressed you know
when a house is distressed, onesthat are boarded up or they're
just not not maintained at alluh, basically, you know doing
(11:04):
your homework at get the address.
You know zip code, make surethe zip code is right, the
address is right, and then doyour research as to what's going
on with that property.
Speaker 2 (11:13):
Absolutely.
Yeah, driving for dollars islike a crucial, especially in
like the areas that we live inhere, right here in Shasta and
Tehama, right here it's, likeyou know, a new property could
go into like distress mode, likejust instantly.
Like you know, around heresomeone can move out instantly
(11:33):
and then just it not beingadvertised already, you can jump
on it first.
You know you can be able toreach out to the owner first.
If you see tall grass or if yousee houses boarded up and just
a distressed looking property,you could be one of the ones
that can just jump on it beforeany other wholesaler or any
other real estate agent will tryto jump on it.
(11:55):
So it's, driving for dollars isa really good way Going to need
some gas, but it's a good way toget property leads, you know,
other than just sitting on likeyou know website trying to look
up you know vacants and stufflike that, because they you know
databases and stuff have somuch information you don't know
(12:18):
what's new and what's old, soyou want to stay fresh.
You know you filter out what'snew, but you want to stay fresh
by driving for dollars to see oh, I see this person's got a
U-Haul in the driveway.
It looks like they're gettingready to move.
House looks in distress.
Write down the address you know.
Speaker 1 (12:34):
Yes, yes.
And then the last one is inthis category right here
Networking.
Leverage your connections tofind off market deals through
word of mouth.
Word of mouth still goes a longways nowadays.
I mean it goes seriously fast,because you could just that one.
It's always been taught to methat one person can change your
(12:56):
whole life.
It can change your whole lifewhen you're talking to the right
person, because that rightperson can leave you to so many
different channels, so muchprogression in your life.
Speaker 2 (13:05):
Yeah, it's just because you don't know who they
know.
So meeting someone new, meetingnew connections and being able
to network to be able to findthese deals, you know, is just
an awesome way to be able tokeep business going.
You know what I mean.
You want to be able to networkto be able to keep business
(13:26):
going and be professional whenyou network always, you know.
Speaker 1 (13:31):
Yes, the next one is the evaluating properties, which
is definitely huge, because meand you've talked about this a
lot.
When it comes to properties,yeah, it may be boarded up, but
uh, for instance, an example,the one house that we was
talking about when I seen youthis past weekend, uh, remember
(13:51):
how we first went to it.
Yeah, it was smashed windowseverywhere, some of the spots
was boarded up, but then we wentto the side of the backyard and
the whole plumbing was allmessed up.
That's just a whole, completemess and I was like goodness,
what is this?
So yeah, so, uh, perform yourdue diligence, um, conduct your
(14:12):
research on each property,including title searches, zoning
laws, um, uh, potential liens,uh, even even to this is huge.
Also, being a real estate agent, make sure you know where the
property line is at, becausesometimes that property line you
may think that's the propertyline it could be something else.
(14:33):
It could be either wider or itcould be shorter.
So that's a good way of findingout, like, make sure you know
exactly where the property linesare at.
Speaker 2 (14:42):
Yeah, you got to know where your boundaries are at.
You got to know where theproperty ends, where it begins
Very important.
Got to do due diligence, youknow, making sure when you go
through these properties,checking out for zoning, making
sure to see what otheropportunities you can be able to
(15:04):
make best use of the property.
You want to do all that.
You want to estimate therepairs, which is our next one.
You know people that are tryingto wholesale kind of get caught
up a little bit on how toaccurately try to, you know,
estimate the repairs on theirown versus having a contractor
(15:26):
come out and give you a bid togive you an idea you know what I
mean of what it's going to cost.
So when you're first gettingstarted, it's kind of hard to a
little bit estimate repairs.
So that's when you got toreally sit down and you got to
go to maybe a Lowe's or HomeDepot and start pricing stuff
and start saying, okay, well,this is what these prices are
(15:46):
for doing drywall or repairingtile or whatever it may be.
You want to get familiar withestimating repairs and that's
all included with doing duediligence, performing your due
diligence, your due diligence aswell, looking at the property,
(16:07):
like you said, finding out wherethe property lines are and
going from there, yeah, and theone to the next one.
Speaker 1 (16:17):
it says that the calculate the potential market
value of the property afterrepairs are made.
Says that the calculate thepotential market value of the
property after repairs are made.
That's huge, because you justwant to, you, you want to make,
uh, uh, some type of profit whenit, when it comes.
You want to make some type ofprofit, and it's a lot of it.
Um, a lot of it comes to youjust being knowledgeable, being
(16:40):
around the right people.
Knowledgeable, uh, they cantell you the ins and outs
because, like you said, you cango to home depot, you go.
A lot of it comes to you justbeing knowledgeable, being
around the right people.
Knowledgeable, they can tellyou the ins and outs because,
like you said, you can go toHome Depot, you go to Lowe's,
you could just spend a grip ofmoney unnecessarily when you
didn't have to.
So a closed mouth doesn't getfed.
You got it.
You got to talk.
You got to surround yourselfwith the people that are in the
(17:01):
same niche as you.
Speaker 2 (17:09):
And hey, from that point on, right there,
everything, everything is goingto go good from that point.
Oh, yeah, yeah, you, just aslong as you're taking it step by
step, you're, you know, afterrepair value is very important
because you got to be able to,you know, calculate what your
profit is going to be after you,you know, do all your repairs,
if you need to do repairs,that's a very important number
(17:30):
to determine when you'rewholesaling, like that's really
important because you know yougot to figure out what your
profit is going to be, whereyour spread lies, you know as
far as a wholesaler.
So, really, running the numbers, which is the next one, using
the wholesaling formula,everybody uses like 70%, or some
people use 60 or 65, justdepending where you're at.
(17:51):
But you know, calculating whatARV, or determining, I should
say, arv, and then running yournumbers with whatever percentage
you want to run, minus yourrepair costs, is going to become
your MAO.
So you have to know whatnumbers you're going to run to
(18:13):
be accurate as possible.
Speaker 1 (18:16):
Yeah, that's a great formula right there that they
use for the wholesaling formulathat the ARV times 70% repair
costs equals the maximumallowable offer.
And then negotiating,negotiating, securing contracts.
That's very huge, because nowwe're talking about
documentation.
We're talking aboutdocumentation on these
(18:37):
properties and everything.
So that's when it comes tonegotiating with the sellers
that have a clear understandingof their needs and present a
win-win offer.
You use assignment contracts,ensure that you have a solid
contract that allows you toassign the property to an end
buyer, and then includecontingencies.
(19:00):
Add contingencies to yourcontract, such as inspection
periods and financing financingterms to protect yourself.
These are all these.
These three are all keys tohelp negotiating securing
contracts because, when it comesdown to besides buying it, you
want to make sure everythingthat is contractual and that is
dealt with in a professionalmanner that is contractual and
(19:24):
that is dealt with in aprofessional manner.
Speaker 2 (19:25):
Yeah, yeah, you want to make sure you have all your
contracts straight.
You want to make sure whenyou're negotiating with the
seller that you're coming to,you're coming, both are coming
to an agreeable number whereit's beneficial for both parties
.
Yeah, never forget like anycontingencies that need to be
added to the contract.
You want to be detailed.
You want to be thorough whenyou're wholesaling properties,
(19:48):
when you, when you're trying tobe a wholesaler and you're going
through, talking to sellers andgoing through these properties,
you want to try to be asthorough as possible.
That way no one feels like, atthe end of the day, they're
being cheated, you know, on thedeal yes, exactly, all right.
Speaker 1 (20:06):
And then the next one is a building a buyer's list,
just like you're showing me.
On saturday you have to buy abuyer's list and everything.
A great platform for all thisis prop stream.
Prop stream is great at gettingcontact information.
There's so much on it.
Actually, I am working onhaving PropStream on the podcast
(20:29):
to show everybody what exactlywhat's involved with PropStream
because they are, I want to say,the best when it comes to if a
person is not a, if you're not areal estate agent, even if you
are a real estate agent likePropStream has so much valuable
(20:49):
information that you can use,especially with investing.
It's crazy how much that theyhave.
Speaker 2 (20:53):
Yeah, propstream I definitely recommend.
I'm sure, like all the experts,all the people that are doing
wholesaling and doing othertypes of deals, they're using
PropStream to their advantage tolook up data and stuff like
that.
So I definitely recommendPropStream just because, like,
I've used other softwareplatforms and other databases
(21:14):
and PropStream is really easy touse and they have a lot of good
features that I've seen thatother other platforms don't have
, other data databases don'thave.
So, yeah, shout out toPropStream.
Speaker 1 (21:29):
Oh, amen, amen.
And then another one that comesto this building buyers list.
I like that last one.
It says maintain relationshipsregularly, update your buyer and
new deals and your markettrends.
That's huge right there.
And then it stayed, and thenstayed in contact with them.
You know, just maybe do aweekly call, or every two weeks
(21:50):
a call, just just showing yourpresence, them hearing you, or
just calling them or seeing them.
It helps out a whole lotbecause they know that you're on
board, like okay, this personis serious as to as to getting
some proper helping me get someproperties.
This is not, it's not going towaste my time.
Time is a value I can't get.
I can't gain that time back.
Speaker 2 (22:11):
Yep, yep.
So, like you know, uh, maintainrelationships.
Um, they're very important.
Like, uh, I was showing you,like you said, saturday I was
showing you my buyers list.
So I'm always trying to updatethat thing because, like there's
always it seems like there'salways every few weeks or every
month or two months there's anew buyer to coming into this
(22:32):
area, paying cash, and, um, it'simportant just to get their
information because you want to,as a wholesaler, be able to
move properties to them.
Speaker 1 (22:41):
So, yes, you are, and then let's do the.
When it comes to another stepof it is marketing deals.
Create attractive listings.
The more attractive the listingis, the better, and the better
that attractive listing is themore that you can get it under
contract.
(23:01):
Better that attractive listingis, the more that you can get it
under contract.
Right, investors, investorsthey love especially properties
that they don't have to workmuch on.
They can just basically flip it, yeah if it doesn't have much
work to do it.
Speaker 2 (23:13):
Oh man, that's, that's beautiful, that's a
diamond in the rough for themyeah, those, those type of
properties are wonderful becauseyou just, you know the newer,
more more likely wholesalingyou're going to be dealing with
sometimes work.
That's even wonderful.
That's even more, you know,more beautiful of the situation
(23:45):
because, um, that, uh, thatfixing flipper doesn't have to
do much so you can move a nicelight cosmetic fixer to a fixing
flipper and it'll love you.
Speaker 1 (23:56):
Oh, yes, yeah, and then.
And then I'll be like then thenwhat are you doing?
You just growing a relationshipright there, you're growing a
relationship right there, you'regrowing a relationship right
there.
Now they're like okay, I candepend on this person.
He knows what I'm looking for.
And if he doesn't, on certainones, then I can just tell him
like hey, this is what I'mlooking for at this time period.
So yeah, that relationshipworks out, it'll work out great
(24:18):
for both parts.
Yeah.
And then the next one Because Iknow you come across someone
you're like closing the deal.
Then they just want to act up.
Speaker 2 (24:34):
Yeah, yeah, you see that a lot.
You know you've got to.
You've got to get to the tablefirst and make sure everything's
straight before you get toohappy.
Speaker 1 (24:43):
Yes, this is closing the deal.
Coordinate with all parties.
Work closely with the seller,the buyer and title company to
ensure a smooth closing process.
It says double-check paperwork.
Ensure all contracts and legaldocuments are correctly filled
out and signed correct.
Collect your fee uponsuccessful closing.
(25:05):
Collect your assignment feefrom the end buyer.
All those you want to make sure, everything you want to make
sure those.
I want to make sure those i'sare dotted and those t's are
crossed at the time, like, say,if at the very beginning, if
you're looking for something,and if they look at and if you
get into contract, because theway that you have the wholesale
contracts, I would even say thatto this point where I mean it's
(25:28):
contractual, but I even haven'tnotarized, because having a
notarized that's a that's,that's a public officer Like you
got to think just just anythingin real estate has to be
notarized.
Without a notarization, thatreal estate process doesn't
happen, it doesn't close withouta notary.
So yeah, if, if you want, ifyou, if you feel that you might
(25:51):
set, that you might need, likeyou know, I'm gonna get this
notarized.
So be it as long as you feelcomfortable with it.
But make sure you have a goodcommunication with the, with the
, with the seller, the buyer,the title company, because the
title company holds everything.
And that's a good place to findout, especially with the title
company, is to find out also,too, with the, with the property
(26:14):
lines.
That's another, that's another,that's a.
They're a great resource tofind out, like, okay, where's my
property line?
I just want to make sure thisis accurate and then you find
out if it's just on point, ifit's too small or it's too small
or it's it's too big.
So they have all that.
They have each for each, eachparcel in real estate the title
(26:38):
companies has basically, I callit the whole, they have the
whole DNA of that property.
Speaker 2 (26:43):
Yeah, they do, like you want to be able to.
You just basically verify.
You know you want to verify allinformation that you've
gathered about it, that youfound online, that you, you know
, gotten through an email, allthe square footage, your
property line zoning, what isthe property zone, just
(27:05):
everything.
You just kind of want to bedetailed that way.
You know, you know what you'regetting into, you know, you know
what kind of property you haveand, as a wholesaler, you know
just that basic informationyou're supposed to have anyway.
You know, so you can be able toprovide it for the investor
because they might ask thosequestions.
You know how big is the lotsize and what's the square
(27:27):
footage, of course, of thestructure.
And you know just, just, yeah,you got to have everything
together.
Speaker 1 (27:35):
Yeah, and then the more you have it, the more
comfortable you'll be too, soyou don't have to dig around and
do more research.
Right, yeah, exactly.
Speaker 2 (27:45):
Yeah.
Speaker 1 (27:45):
Yeah, so the four tips of wholesaling in a
competitive market.
It breaks it down to a smallersection Stay educated, be
flexible, leverage technology,provide value.
You do these four steps, youcan be definitely productive in
wholesaling.
Because I wanted to bring thistopic out, because this is this
(28:10):
is this is your, this is yourniche, right here.
Speaker 2 (28:13):
Yeah this is, yeah, this is what I'm working on.
I'm eventually going to beventuring to other strategies,
of course, because I want to bewell rounded.
But yeah, this starts withwholesaling because, you know,
brand new trying to get in,trying to get deals done, trying
to raise capital to be able todo other deals done, trying to
(28:35):
raise capital to be able to doother deals and, you know, just
utilize other creative financingstrategies.
So I'm just trying to reallynail down wholesaling and be
able to hopefully have this onautopilot, you know once I get
you know the process down on howit goes.
So, yeah, definitely, and thething about the thing about
wholesaling too, is autopilot.
You know, once I get you knowthe process down on how it goes.
Speaker 1 (28:53):
So, yeah, definitely.
And the thing about the thingabout wholesaling, too, is it
takes zero dollars.
A lot of people think it takes,uh, it takes.
When it comes to uh andwholesaling, it takes.
It takes a lot of money, ittakes zero dollars.
You get that right property,get it under contract.
You just you like it's like yousaid, you're leveraging, you're
(29:16):
leveraging yourself right now,and then you just keep on going.
You just keep on pushing, thenyou'll get something better,
then get something better, thenget some bad, and it just you
just keep on going, keep ongoing up in steps yeah,
utilizing the free resourceswhen you're wholesaling is just
crucial because people don'thave a lot of money to start out
in business, in any business.
Speaker 2 (29:37):
So when you're doing this from home, you're probably
going to spend a few dollars,but you don't have to spend
startup costs like you would.
A normal business no-transcriptthe process yeah, you're going
(30:20):
to need like 10 bucks, a hundredbucks to hold it for, you know,
to bind the contract andwhatnot.
You know good faith deposittype of thing.
So other than that, yeah,you're right man, you don't
really need any money.
You could just start lookingand start utilizing, if you can,
free resources and stuff tolook up information, if you can.
(30:43):
Sometimes it's kind of hard,but if you can do public records
when you're starting, then youcan find certain information.
It's kind of hard to findupdated phone numbers, so you
might have to pay or skip tracesometimes and pay for that
service.
But other than that, if you canutilize free resources that are
around you, you can get a dealdone.
(31:05):
You could definitely get a dealdone.
Speaker 1 (31:08):
Oh yes, nice yes.
From the Property Relief LLC,mr Wholesale himself.
Oh yes, nice yes.
From the property relief llc.
Speaker 2 (31:14):
Mr wholesale himself I'm trying to get this wholesale
process down so I can move onto bigger and better and other
strategies, because I want tolearn all of them.
But I gotta figure out thiswholesale thing down or get this
wholesale uh process down soyou know, be able to utilize it
(31:35):
as much as possible.
Everybody's got their ownopinion about where you should
start in real estate.
Most people say wholesalingbecause, like normally, people
get involved in wholesalingfirst.
From what I hear in researching, you know, in my real estate
journey, so you know why notjust start off there.
Um, you know, low budget statusright now we have no budget, so
(31:58):
we got a wholesale.
Speaker 1 (32:02):
All right, all right, and then what's the best way
for everybody to get in touchwith you then?
Speaker 2 (32:08):
Okay, so, once again, property relief LLC, that's the
company.
My email is propertyreliefbizat gmailcom.
If you want to text me or reachout and call me, if you're
watching the video, it's530-366-2116.
Send me a text, send me a callif you want to six, send me a
(32:31):
text.
Send me a call If you want to,um, we can talk about it.
If you've got a deal you wantto, you know, link up and maybe
do a transaction, we can do that.
So, yeah, just uh, get at me um, instagram to property relief
LLC on Instagram.
Speaker 1 (32:43):
So All right, yeah, and especially in a direction
you live in.
There's tons and tons of homesthat can be dealt with,
especially coming withwholesaling.
There's a lot of propertiesright there where you're around.
Speaker 2 (32:55):
Yeah, this is a good little area.
It's, you know, a little bittapped, but not really tapped.
Speaker 1 (33:02):
Yeah, exactly.
Speaker 2 (33:03):
But there's good.
There's good deals out here.
There's a good group ofinvestors and flippers out here,
so just need to be able to bepatient and work on deal flow
and get deals going, becausethat's what it's about to
getting your first deal goingand then being able to have deal
flow come in, because you justdon't want to stop after that
(33:25):
first deal closes.
Speaker 1 (33:27):
Got to have something else lined up.
Exactly right, All right then,world.
Speaker 2 (33:33):
Mr Got to have something else lined up, exactly
Right.
Speaker 1 (33:34):
All right then world Until next time.
Speaker 2 (33:37):
Until next time.
Speaker 1 (33:38):
Oh, yes, indeed, and world, we're about to have a
blessed week coming up and we'llsee you next week.
All right, peace.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.