6 deals in January ( Well almost)

wow that's awesome. You're definitely rocking it..

I love what you do which buying low and selling low..

I have seen alot of wholesalers out here in Miami area who try to make $20k on a deals and guess what when the deal doesn't move that's when you see then reducing it lol and then lose on it with big ZERO.

Keep it up:)

When the smoke clears......January will be a good month for you......

Congrats...........

Regards,
Sharon

Thanks! Hey if the numbers are right there is nothing wrong with making $20,000.
To often wholesalers put out a high ARV and low rehab/remodel estimates to try and validate their fee. Usually does end in a big zero and hurts their reputation.

Michael

you are slamming them out.

Got your PM, will call later, we have a very busy week end.

Michael

ROCKIN it already in the first month Mike . AWESOME !!! nice going man !!!!

Mike,
I honestly have no words to describe how impressed I am with you and Deb; you guys are awesome and such an inspiration!!
Val

If we just get out and do what Dean teaches we get results! I think the key is multiple offers. We have done 6 deals this month, guess how many offers we made!! How many mailers sent out and door hangers placed? How many REI meetings did we attend? How many new buyers and sellers did we ad to our lists?

Thanks again!

Michael

We hope we inspire others to take action. Dean gives us the tools, but they don't do much good if we don't use them!

As I always say, you are also an inspiration, besides being a very nice person!

2014 is going to be your best year so far!

Michael

AWESOME Mike!!! That is rocking smokin hot!!!!! I totally want some of that!
Thanks for sharing. you sure have the system down. What can you share with us about your process??

That is fabulous! You guys are machines now!

I have done three so far this month, totaling $26,900 in Assignment fees. 50 more signs out this w/e and signing a new LO contract with seller on Monday.

This is so much fun!

Karen

Thanks!
My MLS system goes like this (it will sound very familiar!)

1. I have my agents set up searches that meet my criteria and locations.
I also set up multiple searches on Zillow.
In addition, I have my agents looking for investor deals for me.

So, I have leads coming to me daily. I would say I average around 50 MLS leads a day.

I evaluate the leads and make offers on the ones that look like they might work. I don't spend a lot of time looking for the "perfect deal". I do make sure they are properties where I won't be competing with owner/occupant type buyers.

My agents all work with CTM contracts. I email them the MLS number, the address and the offer amount of the subject property. They email back the contract that I sign with my mouse and send it back to them. I save the email containing the contract for my records.

My agents submit the offers and they do extreme follow up. Asking for counters if we hear nothing, etc. My agents have been trained by me!

If we get a decent counter we do serious evaluation of the property and see if we can come up any, stay where we are or sometimes withdraw the offer.

2. We market to unlisted motivated sellers using bandit signs, mailers, door hangers, business cards etc etc.

3. We network anywhere and everywhere we can. We meet and work with other wholesalers all the time.

4. We constantly grow our buyers list.

Hope that helps!

Michael

We are defiantly working it EVERY day! Sounds like you are doing the same! It's not really like having a J.O.B. but you have to put the time into it that's for sure. It certainly has gotten easier over the past couple of years!

You are ahead of me for now! That 6th deal I listed above is not under contract yet! Looks like I will have a buyer by tomorrow. Several people are doing their due-diligence and I know the numbers are there so we shall see.

Meanwhile, more offers and follow up today!

It is fun!! Beats working for a living!

Michael

Great Advice, and Great Job!

You guys are rocking it!

Before I even clicked the link I said, "6 deals in one month? Ahh it has to be Mike!" Lol
Thanks for the inspiration!

Hope the advise helps!

Michael

I saw your bandit signs again this weekend! Good job! I also see where you have gotten a couple of properties under contract. This is how you ACTUALLY learn the business! Good job and don't miss my next REI meeting!

Michael

I'm suppose to meet with a buyer to pick up a bird dog fee too!
I won't miss your next meeting, I just have to know when it is!

Hey Mike, my name is Andre and I just return back into Real Estate, my question to you is, are these just regular properties on the MLS and not HUD deals? And if so, is it a different process than HUD as far as purchasing, for example, do you have to bid on these like you bid on HUD properties? By the way great job you and your wife are doing. Thanks!

6 deals and January hasn't even ended yet, wow you on a roll. Your post are very inspiring and motivate the heck out of me. Are all these 6 deals from the same town/city? Or they are split up in different states from making offers with different teams that you build?

None of these in January were HUDS. The ones we got off the MLS we just submitted offers through our agents.

Michael

These were all from Denver and the surrounding "burbs"

Michael

I better pick up the pace

You Guys are Really Rocking it out there !!
So true what Dean Teaches us Works As well as the Tools Needed
We Just have to Use Them & Take Action Nice Way To Start of 2014 !!
Getting Lots of Good Leads from my continued Bandit Sign Campaign
& My New Moving Bandit Sign LOL ( Letters We Put on Back Of My Car )
Currently working 6-8 FSBO Deals ( 2 LO Hoping to sign 1 Contract Today)- Trying to add LO's to my Done List Just have to connect the Dots & Get them to Closing LOL . You Guys Are such Inspirations To Us All !! Thank you for always Sharing
To All Our Success,
Darren from Calif

Go for it! 2014 is your year!

Michael

Hope all is well out there! Are you driving that Corvette yet or did you sell it?

Yep, taking action is the key. Sounds like you are keeping busy. Making offers and having the system to do so is the ONLY way to make money.

Best of luck,

Michael

Always great to hear good news from you Mike It gives me drive to do even more than what I'm doing. I'm getting a property under contract from MLS, gonna do my due diligence and see if the numbers work. Honestly, I don't think you've done things much differently from what you've been doing, just constant tweaks to a proven system and you're killing it!

Keep your deals coming!

You are right! Dean teaches us what we need to know, then we just make adjustments as the market place changes. What worked 2 years ago might not work today!

Good luck on your upcoming offer!

Michael

That's great news Mike, love hearing stories like this...I am back in the game as well and I found some deals that check out so far with comps and inspection reports from MLS we are currently doing our own due diligence and if my buyer likes any of them I should profit between 55k-70k+++ by march and would help me greatly with my move by summer...And these are wholesale deals and another buyer who says she buys just about anything so we'll shall see by then...I am on a roll this week and proud to be after just learning that my grandfather has pancreatic cancer, its now in the beginning stages and they hope to catch it before it spreads any further....tough moving forward but I am...

Heres the break down on these deals I found on the MLS is in the 500k range, fix up costs $70k, the comps show $800k and the appraisal came back in the 815k range...Ill assign for 25k if buyer agrees...

Second one is listed for $187k proposed work is around 40k, Arv shows 300k, and ill assign for 15k if the buyer agrees...This is from the same agent as one above...doing our due diligence to make sure he is not manipulating the comps...

third and fourth one are where the buyer says shell buy anything as long as its a decent profit...to her standards I guess....one had an original list price for $338k, but then dropped down to $299k...Comps show $270k...guess where my offer will be around? Ill assign for $10k if any of my buyers agree...

Fourth property listed $299k, same thing, comps show $240-260k...Put in my offer if accepted will assign for $15k needs about $40k worth of work to get it to tip top standard, Arv is $395k...

I also have a few smaller miscellaneous deals that rental investors are looking for that I should profit very easily from...

Ultimately my goal is to have a proven track record like you and Matt...So I am going all in where the markets are hot and picking up speed...Just in one day today, I added an additional 5 buyers to my list within 2 hours alone who don't care about what my assignment fee is...as long as its not over priced and very profitable...Like I said, we shall see...You guys taught me a lot, to stick to my guns, and to showcase what I believe in and that's what im gonna do...just hoping everything checks out for the best...Although this should be posted in my journal, thanks for taking the time out to read this long extensive post lol

Mike,

I love the system of consistency you have put together, The marketing you are doing obviously is working also your agents have been trained right. I just picked up a new agent here and am working on training him right now to get him up to speed.

Thanks for posting, you can see the amount of impact you have when you post because it wow's people and it gets people moving.

I'm selling 2 deals this month and have 2 others it will be early next. I'm trying to break the 2 deals a month by getting out more offers. That is my most important direction right now.

Great job.

Thanks