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If you’ve got questions… I’ve got answers.
It’s because I realize that many of you are just a question or two away from taking action that I’m going to post a video response to each and everyone of your wholesaling questions this Thursday at 8 p.m.
Even if you haven’t got any of my stuff yet I’m happy to help you as well…
Simply leave your question in the comment box below BEFORE THURSDAY 12 NOON EST and I will include it in my video response.
Here’s the Answers
I have to apologize I only made it through about 2/3 and I will get through the rest tomorrow or early Monday.
We had an emergency up at our lake house and I ended up having to do everything from the road.
Watch Video #1
Video #2
Feel free to leave any new questions and I will get to them in the next video. I appreciate your being here and do look forward to helping many you out.
Get Bold. Get Help. Get Money
Eric Medemar
P.S. I invite you to join me on face book where I send out some great unpublished material. You can do that here–>http://www.facebook.com/eric.medemar
How do I assign contracts on REO’s where the banks won’t allow you to assign. If that makes sense.
There’s a ton of bargain properties in my area and I’m just not sure what to do.
BTW… I’m saving up to by your Do This Get Money system I’ve heard from others it’s awesome
Jason
I’m having trouble finding buyers do you have any suggestions?
I appreciate what your doing here and yes I’m one of those who haven’t bought any of your stuff lol.
Eric do you know where I can get a Preapproval letter. Realtors keep asking me for them and it’s got me stuck dead in my tracks.
Eric you’ve been a Godsend to my business so far and I just wanted to say thank you. That’s it really. Thanks.
To Pat from Ohio.
If your asking questions about finding buyers you certainly haven’t bought Erics stuff. I’m only 1/2 done with his buyer blitz module and I’ve got 5 buyers without really trying.
I can’t wait to see how many I can find when my kids go to the sitter Friday, i’ve been building my list between my twins naps.
I’ve got no questions Eric, I just couldn’t help but answer. Thank you.
Eric,
I have bought your stuff and it is very good.
My question is re: Proof of Funds. A local guru keeps telling me the banks will not accept my offers with the ones like the link you sent me. He claims I need to get one from a private party. B.S. ???
I am 99.5% ready to start.
Thanks.
What do I say to the title company to get them to do business with me and make sure they will do back to back/double closing?
Hi Eric,
Once you go thru the neighborhoods and find the for sale signs and talk to the seller, how do I calculate my low offer and present them with a contract?
Marcia,
What’s this buyer blitz module you’re referring to? I have Eric’s Ultimate Wholesaling System, but I don’t have that module. Is it a part of his Do This Get Money system? I’m thinking about getting that one as well. Any info would be much appreciated.
Thanks,
Bryce
My goal is to make 100,000 then quit my job. I need to get that 1ST deal then I can buy a laptop and your system ! Girls gotta do what a girls gotta do!
Okay, what do you do if your area is flooding with foreclosures and you (as in me) need to sell a house like last month for cash purposes. Is it taboo to knock on an owner’s door to try to get them to sell before the auction? I have a lot of people in my area who seem to not even know that their property is being SOLD! How does that happen?
how do you go over a contract with a seller to help them know what they are signing? I have been going over it word for word, and it is long and drawn out, and sometimes kills the deal. do you zero in on the basics of the contract instead?
Is anyone having success using your system in the L.A. market? Thanks.
I’m a beginner wholesaler. My realtor says that I need a POF letter & I have to show that I have the funds in the bank in order to purchase or flip a foreclosure. I thought to flip a foreclosure I just need a POF letter, purchase agreement/option contract, and one day doe in order to assign it to a buyer.
ERIC HELP !!!
I have two cash buyers , each are looking to spend
1/2 million on a mix use or 2 family with like work.
I froze , whats next?
B.K. Bryan
Hi Eric,
We are desperately trying to wholesale properties in our own backyard. We are in an area on the water with pricey homes and a few blue collar hoods with vacant houses. Using your awesome methods of finding buyers, we are hard pressed to come up with a single buyer who bought more than 1 property. No repeat buyers. My partner is a realtor, however we are working mainly as investors. Are we spinning our wheels trying to market to cash buyers in this area? Any ideas?
Thank you for always bring it.
Kathleen and Erin
Hey Eric,
Is there anyway to wholesale a property if contains
little or no equity?
When analyzing a property, what formulas do you use in determining whether a property is profitable for all parties involved? (please include all potential variables and an example please) I haven’t seen this in your course.
Eric,
I have two questions for you:
First off, I have met a couple of realtors and tried to limit telling them all that I am doing while still trying to tell them enough so that I can get their help sending me MLS info to find buyers, etc. Seems like they’re really willing to help and like they’ll be great assets to me throughout my wholesaling career, but they seem to both express their concern with me not being a licensed realtor. I know you address this in your Ultimate Wholesaling System, but you only address the pros and cons from a wholesaler’s perspective. They seem to think I need to be licensed if just walking my buyers through a home or linking buyers and sellers together in any way, even if I’m just selling my position in a contract. Why do they need a license and they don’t? Can I get in trouble by the state if I do something only a realtor should be doing, and what are those things? What are our bounds or loop holes to be careful of when starting our wholesaling business?
My second question is easy, I’m just wondering if your Do This Get Money system offers any help for creating our website and business cards? I don’t know how to get a website up without spending a lot of money up front, at least not one that will dump buyer data into a database and send out auto-reply emails like your simple site does. Do you or your newest system offer any help around this, or what are the main benefits of upgrading to your newest system? I’m really interested in purchasing it.
Thanks,
Bryce
P.S. Will your video or voice recording of these answers be something accessible later if I’m not able to listen/watch live?
whats the most efficient way to find sellers at 20-30% below market value ? (ie : Landlord evictions, Pre foreclosure , Reo ) I have a Buyer lined up who purchases near the University and Rents to students.
Sorry Eric, and everyone else….
I just thought of one more question and I know you’d rather get it out on video than typing a response later.
One of your buyer finding methods was through mortgage loan officers. I understand the concept of this as you explained it in your Ultimate Wholesaling System, I’m just wondering how you get to know a loan officer like this and get them to trust you with buyer leads. The only mortgage officer I know is the one at my own personal bank who helped us refinance our car recently. Is there a way to meet more and get them to send leads our way?
And with realtors outside of the ones I already know or bump into, do I just call them up at random and use some of the dialog you provided to try and establish a lasting relationship. I’m willing to get out of my comfort zone here, just wondering how to go about it.
Thanks again!
Bryce
If you’re willing to answer one more question, is it a waste of time trying to work with pre-foreclosures? You said we could work really hard and get nothing in the end. I’m just wondering what you mean by this and if you could explain a little bit more. Wouldn’t these be motivated sellers? I have some software that brings up all pre-foreclosures in my area (as well as foreclosures) and thought it might be a good way to spot potentially good deals before any other investors do. That’s why I’m asking the guru, because I simply don’t know!
Thanks,
Bryce
How can I get Realtors to work with me. Most of them don’t like assigning contracts either like banks
Hey Eric
What do consider to be your 2 top ways to locate
motivated sellers and why?
Thanks.
2 questions actually. Where is your number 1 source of finding deals? Mls, Hud, Estate, etc.
I put several properties under contract at 30,40 cents on the dollars. My buyers always tend to have a excuse. You underestimated repair costs so instead of making 50k on this deal I will only make 40k. I don’t like the area. I starting to think I have a bunch of pretenders on my buyers list. How do you combat that?
Hi Eric,
How would you go about a deal like follows:
The homeowner has been in the home for 30 plus years,
she took out a small equity loan of 25k. She is now facing foreclosure and very motivated to sell. Here’s the problem.
How do you go about getting the actual payoff amount from the bank? They are will not give it to us. Also, there is a lien from the local water authority, it is 6k, have you ever negotiated a short pay-off on a local government lien? if so, how and whom do you speak to?
Thanks Eric and I do buy your products!
Brandon
I just can’t seem to get my first deal! Please help!
Hi I’m trying to put together a deal in the next 48 hrs. I can purchase a home for 140k. It’s value now is 220k-250k. The property could be worth well over 300k with upgrades. What are my options
Hi Eric, Past student here in Kalamazoo. Can I add a Buyer a few days after I make my HUD home offer, and then Quit Claim myself off for my profit. Also I just formed a pocket LLC before my purchase, is that correct? Thanks much, Herbster
I just can’t seem to get my first deal! There’s a great foreclosure worth about 350k and the bank is asking 109k! I have no money but I want this deal!! HELP!!
Eric,
Given the way the market is, I think there are bunch of shortsales opportunities out there. How can I take wholesale shortsales? Is it possible, by the way, I am broke, no cash, no credit, but willing to buy your latest course, but hesitant.
Thanks
I don’t know what to ask you, because I don’t know what or how to get a motivated seller. I have tried bandit signs, postcards and letters to pre-foreclosures, vacant property owners, done drive-bys in my target area and sent direct mail to them. I advertised in Craigslist daily, and have paid for a display ad in a local weekly publication that is available free throughout my target area, I have changed the ad about 4 times and I’ve been advertising for 15 months and only recent 1 call from a mobile homeowner who just wanted to vent about her Realtor and adult kids.
I have gotten some calls from my marketing, but the major say that “they don’t need an investor who will steal their house”. I’m not put off by these statements and I can always turn the person’s opinion around. And even had a few wish me luck in my business.
I feel like I’m getting nowhere, fast! I have your Ultimate Wholesaling System and will re-read it again. I most be missing something. I’ve been at this for over a year.
Thank you for your time and willingness to help all of us.
Eric,
In case you need another question to answer – I know I’m past the noon est deadline. Who has the cheapest one day flip funds (with unlimited p-o-f letters) to do quick flips, you’ve found so far? Thanks for putting forth the time and effort to do this, it will pay off.
Two question one is how to assign contract with realitor? I seem to have problem locating title company that will honor assignment contract,any help will be greatful,discuss a sale a-z and closeing
Yes I would like to know how can I get funding for my deals and what else can I do to get started and get into this business. so I can make some mola. seriously.
Thank you for what and how you give back! How do you find your cash buyers? And do you search the county office/website for this info and what exactly do you look for?
Knny you need a hard money lender
Eric it looks like I’m a bit late but I just wanted to say I bought you Do This Get Money system this morning after reading your blog and I’m only on the Module #1 and I feel like I’ve already got 10x my moneys worth.
AWESOME.
When you get a chance can you shoot me the special number for your property panic line?
Eric,
Thanks for answering all of my questions. Sorry if anything was repeat of what someone else already asked.
Your info about not needing a realtor’s license was great! Thank you very much! My only other question around this that didn’t quite get answered, is showing a buyer a property. How often are you meeting your buyers at a property to show them around before going any further in a deal? This is one of the concerns a realtor had about me not being licensed. They gave me the impression that I would be violating some kind of state law if I was walking a buyer through a home and not being a licensed agent. I’ll take your advice, and from now on I’ll only offer necessary information to keep things simple. Thanks for your thoughts around this.
Bryce
Eric, I too purchased the, “Do This, Get Money”, course and have received module #1. When and how do I receive the other modules? If I pay the balance of the total cost of the package today, will I then receive the remaining modules?
I deliver 1 module a week for 12 weeks or if you paid in full I can send you everything at once.
About 70% of students who sign up for my Do This Get Money system on the 3 pay plan end up paying the balance off within the first 2 weeks so they can get everything at once. You can email me and let me know what you’d like to do at ericmedemar@gmail.com
I’ve been at this for 5 years
Keep up the good work, thank you.
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Eric, thank you, thank you
It’s just been 1 week after I posted my comment. And I just got back from collecting at total of $10,000 on a wholesale flip. My friends always tell me to be patient, I’m still working on that. After posting last week I stay up all night and into the next morning re-reading your Ultimate Wholesaling Sytem.
Last month I had started a direct-mail campaign and on last Friday, the day after my post, I got a hit. A motivated landlord who needed to sell NOW!
I just want to tell everyone who is still looking for that first deal – NEVER GIVE UP! Work smart, be consistent and your first deal is on its way.
just wanted to say im glad for you and your on your way .could you contact me on your mailing info darylpannell@gmai.com your blessed
As a proffessional real estate wholesaler who do you routinely have handle the assignment contracts the title Co. or a real estate lawyer?Because Title Co. have no real legal power I read in a google search that some Title Companies are leary of assignment deals and are backing off.When starting out I want to specialize in assignments and want things to go as smooth as possible.And can an attorney do a title search?
Wow Loretta. Congrats. I’m still chasing that first deal. Tampa is full of so many tire kickers but I can feel success on the other side of the door.
Thanks and God bless in your wholesaling ventures.
@Gene I’ve always been told to find an “investor friendly” title company. One that can handle assigning contracts and double closings and stuff like that.
May I suggest checking out biggerpockets.com to maybe link up with other investors in your area and ask them whats the best title company to use to do what your trying to do
Good luck
Does it matter if I use an option or purchase contract on my first deal? If so, what do I do next? I am getting the property way below market value.