Posted by Phil on May 08, 2007 at 20:49:46:
But Dave, Can this be used on pre_forecloures too? Thanks
Phil
Question about Joe Kaiser’s new course - Posted by Chad (MD)
Posted by Chad (MD) on May 08, 2007 at 15:46:14:
I’m interested in Joe Kaiser’s Blue Pen Wholesaling course.
Right now my method is looking at listed properties that need a lot of work and wholesale them to rehabbers.
This method is effective but has its downsides. For one there’s a lot of competition from other investors. Two, my offers are so low that I meet with almost constant rejection.
Would I be able to adapt Joe’s ideas to look for properties that need work that I could wholesale to my current buyers? I like my current buyers and would prefer to continue working with them. I also feel loyal since they got me started in this business.
Re: Question about Joe Kaiser’s new course - Posted by vacationlover
Posted by vacationlover on May 08, 2007 at 23:10:59:
Hi Chad,
Welcome, and best of luck to you. No offense, but why would you think that any self-respecting rehabber would want to deal with you, as opposed to dealing directly with the source (from the MLS).?? They may (probably) have MLS access, too.
Pardon me for saying, but I see this as a common thread here, and feel like it’s time to comment on it. The rehabbers I know are not 3rd grade educated morons. Most of those I deal with on my short list are millionaires and multi-millionaires. They didn’t get that way by continually being stupid. They also have the guts to make decisions based on imperfect information and make huge profits by doing so.
Respect your rehabbers. My favorite rehabber lives in a 3000 ft. condo on the beach, grosses about $500K/year (I’m not kidding), and occasionally takes me fishing on his Open Fishermen boat. He’s told me he wants to do 15-20 rehabs at a time this year. (I don’t doubt him. He’s an animal).
'nuff said.
vacationlover
Re: Question about Joe Kaiser’s new course - Posted by DaveD (WI)
Posted by DaveD (WI) on May 08, 2007 at 20:28:29:
Your answer is in your post. Do you think there might be a connection between where you are looking for deals, and your rejection rate?
I haven’t bought a property through the MLS for ten years. I know Joe. Pretty certain he hasn’t either. Get the drift?
Here is where you want to end up: Find a real deal, then list it on the MLS, and let your current buyers fight over it, while you sip umbrella drinks in an exotic location. Blue pen flipping an already listed deal ain’t gonna happen.
Re: Question about Joe Kaiser’s new course - Posted by Chad (MD)
Posted by Chad (MD) on May 09, 2007 at 09:15:47:
I don’t know how much experience you have, but your information about rehabbers is inaccurate. I have a list of full-time rehabbers who buy deals from me. Yes, they have MLS access, and they don’t care that the properties are listed.
Besides, that wasn’t even the point of my question.
And Dave - Posted by phil fernandez
Posted by phil fernandez on May 09, 2007 at 16:32:43:
I am looking with great anticipation drinking those umbrella drinks at the end of my dock on the island this summer with you and your wife.