Wholesaler Network

Hoping you have a Merry Christmas and happy New Year and start thinking about your real estate investing for 2009!

I will be on vacation until Monday January 5th, 2009, but here is my gift to you:

Between now and Christmas New Years Eve, you can download the "Real Estate Mentor Calls Volume #10: Subject To Primer" (Offer Now Expired) on how to buy houses by agreeing to make payments on existing loans.

This is the same real estate course download you that we are giving away on the LearnToBeRich.com™ game through the end of the year as well. So, if you miss the Christmas New Year deadline to download it, you can always play a full game to download it as well.

Sincerely,

James

P.S. Looking forward to continuing to work with you on your real estate investing in the New Year and beyond.

I am officially looking for someone with a wholesale deal that they would like to partner on starting today.

Here's how the program works:

1. Login to your account on AnalyzedDeals.com and submit a property to the system.
2. Download the Wholesaler Partnership Application And Agreement, complete it and fax it back to me and follow up with a call to confirm I received it and to discuss it.

Once we process the deal and get it ready to send out, we will send the deal out to our list of tens of thousands of real estate investors and publish it on our network of 280 investor websites plus we will use our own marketing system to market the property as well.

I am excited and looking forward to working with you on this project.

If you have any questions, please post them below as a comment so that I can address them for everyone's benefit.

Thanks in advance.

Sincerely,

James

On Friday, I sent out an e-mail requesting that you tell me about the deal you have that you are willing to partner on. I got quite a few e-mail responses (which is not what I was expecting) and some very interesting deals submitted.

This evening I just wrote up a first draft of what I am calling the Wholesaler Partnership Application and Agreement for you to look at and leave comments about below (please leave comments and do not e-mail me so that these are available for everyone on this page).

Before you download it and read it though, I want to stress the following:

• This is a completely optional arrangement. You are NOT, in any way, required to do it. You can wholesale houses on your own without doing a 50/50 profit sharing agreement with us. You can still submit deals to Analyzed Deals under our normal program there without this agreement.
• This is substantially different than our program on Analyzed Deals in that we are going to be marketing this to our entire national list of investors and offering it as a package deal complete with (as you will see in the application) repair bids, financing options, property management and much more.
• There is A LOT of work that needs to be done BY YOU to even submit the deal to us to be considered AND not all deals submitted for partnership will even be accepted. However, I honestly believe that if you do this type of research and provide it your own buyers it will dramatically increase the number of deals you can sell on your own. And, once you do it, it is very easy to do over and over again for future deals.

With all that said, please do download a copy of the Wholesaler Partnership Application and Agreement (as a Adobe PDF file) if you are interested in providing some constructive feedback by leaving comments below.

If you are interested in partnering, I will be taking the feedback I receive and making appropriate changes and then asking for partners.

IMPORTANT NOTE: Please DO NOT send back the form filled out. We are NOT ready yet for that.

Thanks and I look forward to your comments below.

Sincerely,

James

To help me put the turn-key real estate deal program together, I am looking for one or two real estate wholesalers who have actual deals right now that would like to work with me on this project.

Here is a short list of what I am looking for:

• A wholesale real estate deal that is already under contract and assignable that is at least 30% below current fair market value. The larger the discount the better. This will be a major factor in selecting the partner to do this test with.
• We will need great comps to show that is is truly 30% below current fair market value.
• It must already be under contract and able to be assigned.
• We will need to take dozens of digital photographs of it to include with the full reale state investor analysis we will be doing, so you will need to be able to do that.
• We will be syndicating this out to our entire network of real estate investors which we have NEVER done before.
• I will be creating and we will be using a new, even more detailed deal analysis system for these types of deals.
• We will be making the deal completely turn-key by researching and providing funding sources for the deal, property management for the deals and contractors.
• You must be willing to partner with me on this deal and split the gross profit 50/50.

If you'd like to participate, please leave your full contact info and a description of the deal you have below as a comment (e-mailing me will not work for this project). I will be picking one or two of the best ones submitted below as comments and putting it together as one of the first turn-key deals we offer via our network.

NOTE: If you don't include full contact info below, I won't be able to contact you about the deal. If you just tell me you have deals without giving me specifics about one deal, I can't compare it to other properties other investors are submitting.

Provided we can get this system organized, I may start offering these deals on a regular basis.

Sincerely,

James

P.S. If you have any questions, you can also post them below as comments and I will modify this post to clarify as needed.

Last week, I e-mailed out to my investors and asked them if they would be interested in turn-key deals with financing in place.

I received over 234 comments on that article with the overwhelming majority of them stating that--with some caveats--they were very, very interested in that.

So, I just wanted to give you an update that I have heard your concerns including:

• what the exit strategy would need to be
• that the rate and term of the loan
• the actual deal itself
• repair money
• holding costs
• and many more...

So, I will start to do some research on this, BUT if you happen to know a hard money lender that is doing these types of loans and wants to put financing together and package it with a deal, then please have them leave a comment below with their contact info and I will call them.

Ideally, it would be a national lender since we are in 280 markets across the US with our Real Estate Resources websites.

I expect this type of research to take at least a couple of weeks since it is NOT my full time focus, but hopefully we can start to set these up.

In the meantime, if there is anything else that I can do to help, please let me know. You may be interested in:

• Real Estate Investor Articles
• Real Estate Investor Cookbook > Daily Checklist
• Learn To Be Rich™ Game with FREE Real Estate Course Download
• AnalyzedDeals.com

Thank you and enjoy!

Until my next post,

James

Between the 280 Real Estate Resources websites that we run, I work with literally thousands of real estate investors. I am hearing more and more about challenges that some investors are having with financing and something occurred to me earlier today that I believe would be a great solution for the investors I work with. Let me explain...

I was having lunch with some local real estate investor friends and a real estate professional and something occurred to me during our talk. A challenge that comes up for many investors is having turn-key financing already in place on deals.

So, I thought about offering, on certain deals we post to the websites, turn-key hard money financing packages with the deals. In other words, if you like the deal, we'd already have a hard money lender lined up that has already approved the property and is willing to lend on the deal. While I am sure each hard money lender would have variations in their lending policies I suspect that we could find some lenders that would lend purely on the property itself without depending on the creditworthiness of the applicant.

It could take some time and effort to round up hard money lenders and get properties pre-approved and packaged with hard money financing, so before I go and spend weeks putting this together, I wanted to find out from you if this is something that would be interesting.

If you'd like to buy deals that are already analyzed and approved with hard money lenders already in place to fund the deal for you, then let me know by placing a comment below. If you have a great reason why we shouldn't do it, then let me know that too. I'll use the comments you leave below as an informal poll to see if I should spend some time putting this together.

If there is enough demand, we'll move forward with it. If not, then we will keep providing the same core services you've come to expect from us and work on improving those.

Until my next post,

James

This is an e-mail from an investor named Robbie from Idaho and my reply to him.

Hi James my name is Robbie I am from Pocatello Idaho or east Idaho in your website.

Welcome!

I have been working on getting into wholesaling houses and your website has helped a ton!

That is great. I am really glad that it is helping and congratulations on getting into wholesaling.

I went about things a little backwards I believe I have found some deals but I haven't acquired a real huge buyer list, which is what I am working on right now and thanks for the advice on how to do that.

You're not the first person to do that. Some people think that finding deals is the first step. At least you know realize that you do need to build a buyers list and, hopefully, with the help of our website you now know how.

In the meantime with the houses that I have found I have gotten some decent discounts from my point of view, and getting to my question I have yet to put them under contract just do to not having an exit strategy for the property.

OK.

To submit a deal on your website for you to analyze it does it have to be under contract?

Yes. You must have it under contract to wholesale it on our website. Until you have it under some type of contract (option or purchase agreement) you do not have rights to do anything with the property.

It wouldn't be a huge problem getting the house under contract (besides earnest money) so that is my main question.

I did address this exact issue in the article I wrote about earnest money that you can access from the Wholesaler Control Panel. Please do read that and if you have specific questions about that, please leave a comment on the article itself so I can clarify it for you and other investors.

I have discounts ranging between $30 to almost $100k.

Great!

So if you could help me with that question I would appreciate it,

Yes, I think you will find the answer in the article I wrote. If not, do leave me a comment there and I will be sure to clarify the article for everyone's benefit.

and one last thing while watching your video I did see that you didn't do anything over four plexes and I was wondering we have also found some town houses that are separate from each other however there are 20 units.

Yes, I do not teach how to do that because I don't do it. I feel super comfortable with single family homes and I feel OK about multi-units up to and including 4 units. Anything over that is outside my area of expertise and I do not teach it or work with them.

They can be purchased one by one or all 20 and I just wanted to make sure that was not to many to list on the website thanks again for your time and I can't wait to learn more.

Yes, that is too much to submit to our website unless you are selling them one at a time.

I am glad to see you are excited about wholesaling and look forward to seeing the properties you submit.

Sincerely,

James

On Friday I sent out an e-mail to our investors and asked them what I could do to help.

They replied and I answered their questions over the weekend. Here are the questions and replies:

http://wholesalernetwork.com/how-can-i-help-you-wholesale-real-estate

In that same e-mail I promised that I would share with some of them a real estate course for contributing, but quite honestly I did not expect that many people would reply. So, instead of individually picking one or two people to give a course to, I decided to give away a course to everyone.

For the next week or first 100 downloads (whichever comes first), you can download a zipped copy of the real estate course "Real Estate Investor Daily Training: Volume #1". In this audio I actually explain how I generated over 100 motivated sellers calls in about a week and listen in as I train Connie, who worked in my office at the time, how to call these sellers, what to say and how to say it.

Once they've been downloaded, that's it. So download it immediately if you are interested here.

Thanks for contributing and enjoy the real estate course download.

Sincerely,

James