Wholesaling Houses In Real Time In A Changing Real Estate Market

This is a quick video about knowing how to  analyze your leads when you are wholesaling houses.

Leave me a comment and let me know what you think or if you have any questions you would like answered in a video

Thanks

So I wanted to show this to you real quick.

Have you ever wondered what is the best possible way to get motivated sellers??

Believe you me it is not what is demonstrated in the video below

http://1800kwikcash.com/KC15AJ1C%20AlexJoungblood.wmv

This was something I did a couple years back because I SOOOO was willing do do anything to get my business of the ground.

BTW…you need to have that same desire if you want to go anywhere in your wholesaling business or anything you are doing!

Leave me a comment and let me know what you think..also let me know what has been the best for you in getting leads into your business.

Later

Joungblood

Click Here to Enlarge the Video

A lot of people ask me how I get an assignment fee in the likes of $ 17,500 to pass right in front of the face of my buyer and seller.

The video above shows a recent closing that I had in which I did exactly that.

This video is a response to a question by Erby Beavis. If you would like a response to your question via video leave me a comment below.

Next topic I think is going to be on making tons of offers and how I manage it with all the “earnest money” that I would have to shell out.

Below is the “finished product” of that deal

Texas Wholesaling Check

1) I really think I can find a better use of my time than driving to the closing

I  believe in the value of my time. That is one of the reasons I am so big on having a virtual assistant in my real estate investing business. I understand that doing mundane things that can be outsourced definitely should be so that I can focus on the money making activities. I would definitely classify going to closing as a mundane activity. Wholeheartedly I would say that getting in the car and driving to closing is definitely VERY mundane. I really hate driving because it is so counterproductive. I know now why Trump has a driver that takes him where he needs to go. You really can’t do much money making activity while behind the wheel. Maybe you can make a few phone calls but that is IT.

The only reason you might go is because you have never seen one before. Let me tell you, you really aint missin that much if you decide to skip out.  Closing is really just a bunch of people sitting around a table signing documents while overpaid attorneys are shoving papers in front of you while you stare at each other kinda funny because you don’t know what else to say.

2) I like the fact that I can make money at closing without ever owning the property

One of the awesome things about wholesaling real estate is that you can make money on properties without ever owning them. It is such a great system the way it is set up. You see what we ARE making our money on is the fact that we have a legal and binding interest in a real piece of property. The power and the money is in the contract.

I can illustrate to you the power of the contract by a bankruptcy deal that I did a while back. I put the property under contract subject to the approval of the bankruptcy trustee (whole other story). The trustee being the awesome guy that he was turned the deal down. However, it has been like a year later and I STILL get letters from the bankruptcy court regarding this property because of my contract which gives me a legal interest in the property. It is the the CONTRACT that we are selling and NOT the property.

Because I do not own the property there is nothing for me to sign. I get paid an assignment fee that is recorded on the HUD-1 because I am assigning my legal interest in the property to another party.

3) A deal can fall apart at the closing table from stupid questions

Remember I said that at closing you end up sitting around a table looking at each other kinda funny? Well, when you get in an uncomfortable situation you might end up saying something stupid. The seller might have a chance to really “examine” the HUD-1 and wonder what this little “fee” is for over here. If you are not trained in handling this type of things you can really blow the deal by stammering and stuttering and some well…I….uh….um….err…

In reality what you need to understand and YOUR attorney needs to understand that the only fees that the seller needs to worry about is the fees on the SELLER side of the HUD. To give you a quick primer there are two sides to a HUD. You have the sellers side and the buyers side. Your assignment fee goes on the buyer’s side since that is whom it is being charged to. I am going to be talking about this a lot more in detail when I release my “17 Sneaky Little Wholesale Tricks” I am working on it as we speak and it should be ready to go by the beginning of  the year.  That trick is what I call “Prepping the HUD” Keep your peepers out for that one

4) I like the fact of the money coming to me without me having to “chase” it

Should I really have to explain this one? The most awesome thing about being financially free or independent or whatever you want to call it is freedom. I would not have been able to spend the last  10 days in Florida if I had to worship a boss. Well I guess I may have been able to if I graveled enough than would have been made to work like 100X harder when I got back to show my gratitude. Eck! It makes me sick just to remember those days.

It gives a nice feeling to know that my money is coming to me on my terms without me having to go out there and chase it down. That is the position that you want to be in my friend. You want to get to the position to where you don’t have to worry about where that next mortgage or rent payment is coming from. You want to KNOW that the money is coming to you and you have nothing to worry about. In fact what would be really cool is if you had a Lamborghini payment coming up and all you had to worry about was which closing you where going to take it from  Alright, I am a little kidding about that one. If you know me at all you know I am NOT about living way over the edge but living  a little bit below your means. That may be contrary to what some of the other Guru’s portray but I like to live in a little place called reality.

Well I hope you picked up a nugget or two from this blog post and things are looking up for you. If you want to be on the look out for “17 Sneaky Little Wholesale Tricks” and be notified of when it will become available you can sign up to my email list below. Also as a side bonus if you decide to do that you will get:

-My Probate Negotiation Trick Video ( 1 of the Sneaky Wholesale Tricks)-I show you how to take a 18K discount and turn into a 3 discount to the seller and make them feel good about it. Real case study of a deal I am closing this month!

-2 Live Motivated Seller Calls- Two calls in which I negotiate over the phone with motivated sellers. One of the calls gets a little crazy and one of them is a deal.

-My Mini Wholesaling Audio Workshop- An interview call where I spill the beans on what I am currently doing in my business

chat atcha latah

Joungblood

Your positive attitude towards real estate investing and wholesaling houses will totally control how you do in life and in the wholesaling business

Wholesaling Houses Tip: The benefits of positive thinking

Is your glass half empty or half full? How you answer this age-old question about positive thinking may reflect your outlook on life, your attitude towards yourself, and whether you’re an optimist or a pessimist. Positive thinking plays a key part in effective stress management. Thinking optimistic thoughts doesn’t mean that you bury your head in the sand; it just means that you approach the unpleasant in a more positive and productive way.

You can learn to turn negative thinking into positive thinking. The process is simple, but it takes time and practice, after all you’re creating a new habit. Here are some ways to think and behave in a more positive way:

Check yourself

From time to time during the day, stop and evaluate what you’re thinking. If you find that your thoughts are mainly negative, try to find a way to put a positive spin on them. For example, you can be thinking to yourself ” All of these sellers just keep telling me ‘No!’  so this business doesn’t work! I am going to go back to my 9 to 5 forever and sit at my boss’s feet” Please don’t do that! Don’t sit at your boss’s feet. It is a very stinky position to be in. What you really need to be thinking is ” I am one more ‘no’ closer to a yes!” If I keep making offers than I will be closer to kissing my boss and his smelly feet good-bye!

Be open to humor

Give yourself permission to smile or laugh, especially during difficult times. Find the humor in everyday situations. When you can laugh at life, you feel less stressed. Some people are so dry and really just need to lighten up. Seriously, I think some people are just looking to be offended by something so that they cross it off their list for the day. Don’t be like this…I can’t STAND people like this!

Follow a healthy lifestyle

Exercise at least three times a week to positively affect your mood and reduce stress. Follow a healthy diet to fuel your mind and body.
Surround yourself with positive people. Make sure those in your life are positive, supportive people you can depend on to give helpful advice and feedback.

Honestly, if you are going to do well in the wholesaling business it takes discipline. You have to have the motivation and initiative to put out your marketing to get people to call you so you can ACTUALLY make some offers! Working out and eating right takes a tremendous amount of discipline. Your body will thank you for it now and later on in your life you will be a lot better off for it to. But let me tell ya, it takes discipline to role out of bed and the crack of dawn and head down to the gym. Every morning you just want to stay in bed BUT you know you will be better off for it. Just like real estate…It takes a tremendous amount of discipline to do what you need to do to make the money in this business but you know you will be better off for it if you JUST DO IT!

Practice positive self-talk

Start by following one simple rule: Don’t say anything to yourself that you wouldn’t say to anyone else.
Practicing positive self-talk will improve your outlook. When your state of mind is generally optimistic, you’re able to handle everyday stress in a more constructive way. That ability may contribute to the widely observed health benefits of positive thinking. Basically, if you feel like you have a major headache after you finish talking to somebody because the market sucks, the government is out to get us, and the world is coming to an end, you need to start hanging out with better people. If you want to start making more money you need to hanging out with people who make more money than you and think differently than you do. It is very true that the size of your net worth is the size and quality of your network!

“You become what you think about” — Earl Nightingale

A lot of people ask me “Alex, how can I get to the point where I can make like 50K in one month?” They may want to know the secret to FINALLY being able to do that first wholesale deal. Check out this video as I explain exactly what you need to do to get that first deal under your belt and be well on your way to making that first 50K month

Let me know what you think by leaving me a comment

This is the story of the 11 month wholesale deal. Does that sound like a long time to you? Believe me it WAS a long time. A lot of people have been asking me questions about how to get offers accepted. The questions go like this: “Alex,  all of the sellers I talk to want full retail for their house, I can’t get my offer accepted!”

Well I guess wholesaling houses does not work and we should all go back to our miserable jobs and sit at our bosses feet and worship them for providing us with a monthly and reliable pay check.

You don’t feel that way do you?? I hope not! That would be a very hopeless way to live. I have been free from my bonds for over a year now and am doing just fine. I walked away from 60K a year because I knew it was possible me for me to do this and enjoy my life the way it is supposed to be enjoyed. Now I am not telling you to slap your boss in the face and quit today. Remember, I said that if you have had successful income from your wholesaling business for a minimum of SIX months than you might consider doing that. I actually waited a year to make the jump.

You see right now in the morning I am sitting on my couch in my boxer shorts (sorry for the mental image….no seriously, stop picturing it) and writing this post to you. I have spent some quality time with my baby boy before his first nap and even watched a little bit of the today show..lol. Not that I endorse the today show because there is all the gloom and doom about the real estate market (don’t listen to that crap by the way). Pretty soon I will mosey on up to my office and start looking at the motivated seller leads that have come into my pipeline ( while still being in my boxer shorts…ok..stop it again!)

Here is a quick break down on how to get your Crazy offers Accepted by a Motivated Seller

View the video below (not while I am in my boxers by the way)

Takes notes Paddawan (google it if you don’t know what that word means)

Being Confident in Your Offer

Presenting Your Offer

Following Up on Your Offer

Understanding the Pipeline

Just Plain ole Dumb Luck

Well it has been a little while since I have posted last. Boy time flies when you are having fun and having mini vacations all over the place! Pretty much this whole summer I have been having company over or been here or there. I will tell you it is good to be back and settled after all the running around my wife, baby, and I have been doing. It is hard to keep the baby on a somewhat decent schedule when you are hardly in the same spot for more than a week!

We have gone to Massachusettes, Maine, North Carolina , Florida, and New York this summer. Massachusettes and least like 3 times. Why am I telling you this? I guess the point is that when you own your own business and can do whatever the heck you want you can do stuff like this.

This hotel was great! There is a pool on the the very top floor…basically the roof that had a look out like this onto the ocean! Beautiful I tell ya!

I use to remember having to dread talking to the boss to even ask for a vacation or time off. Shoot it was like pulling teeth to get out the door even a couple minutes early on a Friday! You know exactly what I am talking about and frankly it sucks doesn’t it? That is why I made the jump to the wholesaling business, because I wanted to be my own man so to speak. I was tired of dealing with the boss and all the stress that comes along with that. Sure you get the so called security of knowing where your next pay check is coming from but your trade a whole heckuvalot to get it! Your freedom and sometimes even your sanity!

Am I telling you to quit your job? Definitely not! What I am telling you is that  you need to make sure that you have set yourself up a business that will allow you to do that one da. It was the best move of my life. Is it the easiest business in the world? I would say definitely not! You need a lot of things to survive this business and it all comes back to how bad do you want it? I wanted it bad….REALLY bad!!!

My basic rule of thumb is that when you have had a MINIMUM of 6 months consistent income from your wholesaling business you can think of making the jump. For most I would say a year. I can hear you in your head right now “”Alex a WHOLE YEAR???” Yes, it all comes back again to how bad do you want it? If you want it bad then one day you will end up with checks like this on a monthly basis

I like 12K checks! What I really like is 20K checks! I would like to get some more of those so I gotta keep movin. You know I was actually hoping that month I would have like 30K worth of checks for that month but you know sometimes it does not happen exactly as we plan. I actually had a deal in which we were set to close and the lady told us that she was having sensitive family issues. Well turns out she went and sold to somebody else for 4k more! Can you believe that?!?!? She used some manipulative “family issue” excuse to try to get out of the contract so she could sell to somebody else. So we are in the process of dealing with attorneys and such and should squeak some money out of it. I will tell you if you are in business that this stuff is going to happen. So you just deal with it and roll on!

So what is keeping you from rolling on in your wholesaling business? Leave me a comment and let me know. I want you to be in a position where you can do whatever the heck you want to. Come join me over…its fun

You know I have been struggling with something for a little while now. I have heard all of the hype about REO’s and how they are the next greatest thing since sliced bread. I have always stuck to my direct mail methods to find motivated sellers and it has consistently produced me deals every month. But I thought to myself , wouldn’t it be nice if I did not have to spend that up front money and just go directly to houses that are on the market and ready to sell at discounted pricing? Hmmmmmm…..

It is definitely true that there an abundance of REO’s on the market right now and you would be blind if you did not know that they were out there. What is an REO you ask? Well that is a good question there shooter Keep asking questions like that and you are going to go far, ya hear???

REO stands for Real Estate Owned. The short story is that the bank took the house back from the owner because they could no longer make their payments otherwise known as a foreclosure. Now I am not tyring to bore you with the basics but some people need to start somewhere, right?

So anyways the bank has all of these houses that they took back and now has to do a lot of different things with them. First, they have to take care of them. That entails trashing out all of the stuff the owner left behind and giving it a basic cleaning. Sometimes they may even do some basic repairs to get them in better “selling” shape. The problem here (or actually good thing for us) is that the bank has so many of these houses tying up millions of dollars that they cannot lend. When they sell a house, no matter how much a loss they take, they free up some of that money so they can begin to lend again. You can see how this would help our economy and get things moving in the right direction again, dont you?

If you checked your email sometime last week I sent you a link for the free ebook that Preston Ely is giving out called the REO Rockstar. The only reason I did that was because I was actually considering it myself because the thought of being able to get deals without having to market was pretty appealing to me.

Let’s face it, if you want to be succesful as a real estate investor you have to put some marketing out there to get the phone to ring. If you don’t you are going to spend a heck of a lot of time driving around looking for vacant houses and trying to track down the owners. Don’t get me wrong this technique works but it requires a lot of time and gas. Also, when you do get a lead you have to do some skip tracing to find the owner. That is always fun

I actually went ahead and invested in his full course myself because I wanted to see if all the hype about this stuff is true. It has a full money back guarantee so I can check it out and send it back if it is all hype right? Yes, I admit it, I am the type to actually buy something and send it back and take advantage of the guarantee! Also, if you do a deal you can get your money back by sending them a testimonial and a check. So I figured that was definitely a possibility.

So far I am pretty pleased with it. The lay out is in a very step by step format and the videos are crystal clear. They even have a step by step action plan so on Monday what I am going to do is identify the top ten agents in my market and call them up and tell them I am going to be there best next customer I am the type of person that takes action! Remember, you need to be that type of person if you are going to get anywhere in this business!

Also another cool thing about it is that it shows you how to actually close on these deals! The problem with a bank contract is that you cannot assign it. That has kept a lot of investors out of the REO game, because they don’t know how to get around the no assignment clause. One of the tips they give you is how to close the property with a double closing. This means that you buy and sell the property on the same day in the same title company’s office. Wait a minute, I hear you. You are saying that you need money to do that type of thing. Well guess what??? You are right. You need to have access to cash to do a deal like that. You don’t need it but for maybe a day or so but you DO need it. In the course they actually give you their money company that will do an unlimited amount of transactions with you!

I am never going to fade away from what I am doing now because I know it works. That is one mistake I have made in my business. I know something works but I want to try something new. Getting all mixed up in the excitement of the newness I forget to continue the old faithful methods that produce deals month in and month out. Learn from me, don’t do that, k?

If you want to join me on the REO journey you can do exactly what I did and invest in the course for yourself. Remember there is a full 30 day money back guarantee and if you are anything like me I will use it if necessary!

Click here to Do What I Did

Below is the Link for the Free-Ebook to the Course too…Even if you decide to not do what I did and not invest in the course, you can still get a lot out of the ebook! I tried to give this link out in one of the last emails that I sent out but some people had some difficulties with it so here is the link to the official Free e-book. Just click and save to your computer.

Well, monday is a new day and I have a lot of REO agents to call. We will see how it goes!

Think positive! Great things are headed your way!

Comment and let me know how you are doing in your business and if you have any questions. I get a lot of emails from everybody but I will do my best to answer you. If it is a question I get a lot I will do a video post to answer the question. I am probably going to do one next week or so on how do you get sellers to accept your low ball offers.

Let me know if this is something you would be interested in!