Got Questions? Ask your Wholesaling Houses, Flipping Houses, Real Estate Investing, etc questions

22 Responses to “Got Questions? Ask your Wholesaling Houses, Flipping Houses, Real Estate Investing, etc questions”

1. TeachMeFlipping on January 24th, 2009 1:54 pm

   I use to have an …
   I use to have an answering service when I had a full-time job but now that I don’t, I simply answer the phone myself. The answering service helped a great deal when I had a full-time job

2. teacherbuyshouses on January 24th, 2009 1:54 pm

   Do you use …
   Do you use istants to answer leads and find properties?

3. TeachMeFlipping on January 24th, 2009 1:54 pm

   Postcards, …
   Postcards, billboards, radio, tv but nothing works better than bandit signs for the money

4. DaManAt13st on January 24th, 2009 1:54 pm

   What ways other …
   What ways other than bandit signs have you used to find deals? (looking in newspapers, online etc.)

5. TeachMeFlipping on January 24th, 2009 1:54 pm

   I’ve never done …
   I’ve never done those because I’m not a great researcher and I don’t have the patience for it but if you do and have the time to dedicate to it, I would definitely pursue those as ONE SOURCE of leads but not your only method to find deals.
   MARKETING, MARKETING, MARKETING, let the deals find you.

6. TeachMeFlipping on January 24th, 2009 1:54 pm

   In my city, those …
   In my city, those areas are GOLD MINES and I’ve probably done 95% of my deals in those areas. But if you’re not comfortable in those areas, do biz in the areas that you are comfortable with.

7. nmr20067 on January 24th, 2009 1:54 pm

   Do you think that …
   Do you think that marketing to Probate leads are some of the best leads to go after today?

   I hear two things. One, that that niche is VERY low competition because people are intimidated by the process. As a result, there are big checks waiting there.

   Two, in contrast, I have heard some investors say Estates want top dollar and they are not always motivated at all.

8. teacherbuyshouses on January 24th, 2009 1:54 pm

   Tyrone,

   I saw …
   Tyrone,

   I saw that someone asked about vacant properties in the “hood”. Most of the vacant homes/junkers in my area are in low-income neighborhoods. I only saw one “For Rent” sign in that specific area. Is this an ideal place to search? If not, what’s the ideal “home” to look for?

9. TeachMeFlipping on January 24th, 2009 1:54 pm

   Real Quest will …
   Real Quest will allow you to create targeted list. The postcard simply says who you are, you wanna buy their house and contact info. I only view properties that I have negotiated a price on. And I rarely make offers, I ask questions that get the lowest price possibly.

10. PAgirl09 on January 24th, 2009 1:54 pm

    Hi Tyrone,

    How …
    Hi Tyrone,

    How do I find absentee owners to mail postcards to?

    Can you give me an example of what I would write on those postcards?

    Do you always go to a property and check it out before putting in your offer?

    Thanks!

11. TeachMeFlipping on January 24th, 2009 1:54 pm

    The online course …
    The online course in audio plus me walking you thru your first 3 deals is currently $497 which is discounted off the regular price of $697 as of today. I would suggest you at least setup an LLC to do deals under.

12. ramart1976 on January 24th, 2009 1:54 pm

    Hey Tyrone,

    My …
    Hey Tyrone,

    My Name is Ramon and I’m from nyc. I have two questions.
    1. What is the price for the online course?

    2. Should we do wholesaling with our name on the contracts or should we work on opening a trust before we began?

13. TeachMeFlipping on January 24th, 2009 1:54 pm

    Watch the video I …
    Watch the video I did on the subject at my channel “TeachMeFlipping

    “Buyer’s List: Real Estate Flipping Training Flip Houses Investing make cash money”

14. TeachMeFlipping on January 24th, 2009 1:54 pm

    Go back to those …
    Go back to those areas and see if you notice any “for sale” signs or “for rent” signs and that will be the the tell - tell sign investors are doing biz there which i’m sure they are

15. TeachMeFlipping on January 24th, 2009 1:54 pm

    $200 per month on …
    $200 per month on bandit signs will get you going and/or 1000 postcards to absentee owners would cost you $350

16. lilyfrmla2 on January 24th, 2009 1:54 pm

    Hey Tyrone,
    I …
    Hey Tyrone,
    I talked to you this morning and you did answer all of my questions then, but I went driving around for Bandit signs in not so good areas. I did find some but ROUGH areas in the city. My question is should I market that area? And if so, will the end investor buy from me there?

17. dchinnis2005 on January 24th, 2009 1:54 pm

    What is the best …
    What is the best way to build a buyers list? I am wanting to get started in this business and I am looking forward to doing so very soon my concern is that is i get a property under contract and cannot find a buyer. I know this may happen occasionally but I want to get my business started and I am going to need to quickly be able to find buyers for my properties to get the cash flow started. Thanks for your time looking forward to more videos from you in the future.

18. TeachMeFlipping on January 24th, 2009 1:54 pm

    You’re right, I’m …
    You’re right, I’m not an accountant and I pay more taxes than I would like. I just keep the records and revenue then pass them on to my cpa.

    But I would rather pay taxes on $100k or $200k, etc. than $30k

19. texantwin24 on January 24th, 2009 1:54 pm

    I’ve never igned …
    I’ve never igned a contract or flipped out house, but I have a very good question. Wholesaleing is the cheapest; easiest way into real estate. Whats holding me back is, I dont know if i have the extra income to spend on marketing. What would be a safe dollar amount per month for marketing just to get my feet wet and do a deal a month?

    Ken
    Houston, TX

20. nmr20067 on January 24th, 2009 1:54 pm

    People always say …
    People always say make $5,000 in terms of ignment fee.
    How much do you really make after taxes? Like 2,500??? Because I know you also pay a SE tax at 15% which really sucks because altogether it will take close to 50% of your profit.
    Do you pay less taxes if you incorprate. Also I hear you should not even think about that unless you know you can get deal on a consitent basis.
    I know your not an accountant but I figured you could answer since you have done 100s of Wholesale transactions.

21. TeachMeFlipping on January 24th, 2009 1:54 pm

    Nothing but scratch …
    Nothing but scratch that investor off your list because you don’t wanna do biz with type of person.

    And if no one on your list wants the property you need to market the properties to continue building your list whether you have a buyer or not. Allow your deals to build your list thru your marketing of those deals because buyers enter and exit this biz all the time.

    That could happen but it’s never happened to me.

22. conklbm on January 24th, 2009 1:54 pm

    I am a wholesale …
    I am a wholesale beginner. My question is this: If I get a good property under contract, and my buyer’s list is not massive (20 at most currently), what is to stop an investor from waiting until I can’t get it sold, my contract expire, and them go to the buyer directly?

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