Friday, March 24th, 2017

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Sneaky Wholesaling Trick #5: “Getting Unlimited Access”

Before we jump into today’s tip, I want to let the cat out of the bag that in the near future I’ll be co-hosting a unique REI training workshop with fellow wholesaler & REI blogger Alex Joungblood.

I recently crossed paths with Alex and we hit it off nicely. We have similar backgrounds, both in real estate and in “real life” — I think you’ll really like him and enjoy what he has to share.

Our working title is “17 Sneaky Little Wholesaling Tricks”, and you can expect it to:

1) Cost $0 (i.e. it’ll be free)…

2) Probably be on a Saturday afternoon…

3) Go for a couple of hours-ish or so…

4) Be chocked full of good tactics and trickery for anyone who’s into money-getting by way of wholesaling houses

Details are forthcoming so watch for it soon if interested.

So as we were brainstorming it the other day, I flipped on my webcam and asked Alex to reach into his bag of tricks and pull one out we can go ahead and post for you guys.  So that’s just what this is.

This one answers the question of ACCESS…as in, what’s an easy way to get your potential buyers in to see your wholesale deals?  The fact is, it’s not rocket science. But still, a lot of folks just don’t think of this one until it becomes painfully obvious.

So enjoy, please leave a comment below, and watch for details on our upcoming free wholesaling workshop!

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About 

JP Moses is a roughly-hewn man-child who first got into REI after reading Rich Dad, Poor Dad back in Y2K and went full time in 2002. He's tinkered in everything from landlording to short sales to rehabs to Realtoring to REOs to notes to owner financing, blah, blah, blah...Till he finally stuck his flag deep into wholesaling and has since flipped somewhere north of a couple hundred deals.

JP's not a “guru” but also doesn't think it's a bad word. Among his core values are authenticity, creativity, big honkin' value, general fun-ness and being unshaven. He's super proud to be chief blogger guy at REItips.com and host of the free REIology podcast. He also thoroughly enjoys sharing his 53 best real estate investing forms with anyone who wants them. You should totally check that out. :-)

  • Anonymous

    Great tip. Like your confident attitude.Please do a video on what to do for access when the seller is still living in the house.Lloydwww.cedarsummitproperties.com

  • Steven Robinson

    This is a great tip. I can't wait to learn from the interview on the rest of the tips on the webinar.

    Thanks

  • vetbuyshomes

    Looking forward to the workshop JP. You're right, the Unlimited access tip is not rocket science but ingenuous nonetheless Alex. Thanks for sharing. By the way, Alex is in my local area here in Virginia. We've never met or worked together yet but hopefully that will change one day. I've watched him showcase his success as a wholesaler and reach out to help others on a national level. Good to see a local guy succeed and give back. Great job Alex and thanks JP for doing what you do man.

  • Bradley Gaskins

    Hey JP,

    Are you going to post a replay of the show?

    Brad

  • Steve

    This trick must of been invented back in the prehistoric days when realtors had evolved…

  • Hi JP,

    I like the idea of the Sneaky Wholesaling Tips, but I hope you'll put that on a format we can download later, rather than having to catch it live on Saturdays (which I cannot do).

  • yankeespringer

    Snarky?????????????? Geshuntheit! Good tip. Main thing for the seller is the comfort factor…. if they resist a couple of times, bite the bullet and meet the wholesaler there…. Thanks!

  • Jared

    Great job Alex & JP! You put out some great quality and content rich video's JP. This may be a simple one but a good one so i'm sure it's appreciated! Hope I can make it to the call or at least the replay if there is one. Keep up the good work guys!

  • As always, JP you are promoting a tip, thanks to Alex too, this is an oldie but goodie tip!

  • JP,

    Great tip if the property is vacant but what can U do if it's occupied? In any event, I'll be using it.

  • JP,

    Great tip if the property is vacant but what's the best method to use when it's occupied?

  • you guys rock! keep up the good work and for everyone who just heard this tip, go do something about it. hearing and not acting will do nothing for your bank account. alex and jp take action and they both go to the bank. keep it simple but keep doing it…it works

  • benfaulks

    Very cool, looking forward to it, but am in a seminar this weekend, would love to catch an encore if possible…

  • Kelly

    I would also like to know what method you would use when the property is occupied by tenants.

  • A couple of you guys have asked for clarification on how to handle it if the seller or a tenant is living in the house. I'll share my perspective, then see what Alex says.

    When unlimited access via lockbox isn't an option, then obviously you'll need to resort to you (or someone on your behalf) meeting your potential buyers at the property. It might be you…or even a Realtor, business partner, “intern”, your contractor, etc.

    Honestly I try to go out to houses as little as possible per deal. So one of my favorite choices is to have my handyman do it. I'll pay him $30 for a “service call” but all he's got to do is show up and escort folks through the house. Since my wholesale buyers are typically a “short list” it's not all that tough to manage. And he's instructed to NOT talk about the house, share his opinions or say/do ANYTHING on my behalf. But we also have an excellent, longstanding, trusting relationship.

    At times you'll get a deal on a tenant-occupied property where the homeowner doesn't want the tenants to know he's thinking of selling – fearing they'll freak out. I get that for sure…no one wants to lose a tenant. And in these cases all you can do is all you can do.

    I've typically asked the seller to arrange a “property inspection” that allows me to gather as many photos as possible along with some flip video. And I'll get pictures of EVERYTHING while there. From the tenant's perspective, the owner's just doing some kind of weird inspection and gathering property records. And they assume I just work for him 🙂

    Then my potential buyers will have to rely on the pictures, video and description of the property — which in all honesty does give a pretty darn good idea of the property. But I also give them a final inspection contingency allowing them to verify all is as they believe it to be with the property just prior to actual closing. But you know, by that time the cat's pretty much out of the bag — the tenants HAVE to know the seller's selling once the contract is signed. The idea is to just not spook them before you got a buyer.

    Does that help, guys? Alex, any other perspectives on this from your end?

    …jp

  • Hey Guys! Boy, I wish I had some great elaborate answer for this one. The unlimited access trick works the best when you have vacant properties..simply stated 🙂

    You can still wholesale a house that has a tenant in it but it requires a little more finesse to pull off. The whole point of the unlimited access trick is that you have the ability run everybody and their mom through the property without having to worry about the logistics of dealing with the seller and the buyers time tables.

    With a tenant you really do not have unlimited access unless the tenant does not leave the house very often. The key to working with a tenant is really just people skills. Most tenants do not want to know that the house is being sold from underneath them and they are going to have to be moving elsewhere. It is a lot easier if the tenant is coming to the end of their lease…then they will work with you for sure.

    However if you are dealing with an unruly tenant I would say you have maybe 3 times max before you start becoming a bother to the tenant and they don't want to work with you anymore. Let's face it..you would start to get annoyed if you had people randomly walking through your house just browsing around..lol

    Oh wait! I know….this could be ANOTHER sneaky little trick…get the tenant on your side with some $$CASH$$… I have never done this but could work very nicely. Again…it all comes back to people skills. This would be with the unruly tenant or maybe the tenant that is reluctant to leave the house or just uncooperative in general…

    “Mr. Tenant, We both know that you are going to be leaving this house one way of the other… why not make some money here???” I will give you 200 bucks after I close on this house but I have to have your cooperation to get my people through here…

    Kinda a flavor of the Cash for Keys Idea…

    Sneaky?? You tell me

    Oh… this call is going to be fun!!

    Alex Joungblood
    http://www.LiveRealEstateInvestor.com

  • darlenegleason

    This saves a lot of time and effort. It requires building a trust factor. Have you thought of getting a release of liability agreement signed to prevent problems that might arise? We are such a litigeous society these days.

  • scri8e

    1.) Set up a IP camera with remote pan and audio. Detour break-in's and let who ever tour the dwelling remotely.

    2.) Take a bunch of pictures. All rooms. Inside outside upside downside. Upload them to photo bucket. Put them in one folder. Make a slide show. Another way to tour the dwelling remotoly.

    3.) Have a motion sensor light positioned right and have it hooked up to a red flashing light and a alarm bell. Positioning is the key. So when it activates it activates because some one is too close to your dwelling and up to no good. It will scare them silly.

  • yup. that is true. I agree with you

  • R.C.Moore

    Great suggestion. Thanks.

  • renee

    Did the forthcoming details forthcome as to how to get access to the workshop? Perhaps I missed it?

  • Hey JP, thanks for the workshop yesterday. Can't believe I hung in for FOUR hours! I do have two questions for you and Alex. 1) When you are working w/JV partners (ie if you are planning to split profits w/another investor), what type of agreement do you use for that? 2) Have you ever had an assignment deal go bad during escrow because of title or any other issue that the buyer just backed out, and if so, what types of cancellation fees are typical and who pays for those (or are there fees)? I just had a Chicago Title rep tell me they charge a $500 cancellation fee!

    Thanks again. Great information and I'm trying to reflect on how to incorporate this into my land business.

  • andrae hampton

    Great Idea!! Would you put this in the contract when you are submitting offers?

  • Might be a good idea to write it in somewhere. Yes, that's what I do.

    …jp

  • Hi, Renee – great to hear from you!

    I can't speak for Alex, but whenever I do JV deals I just have a handshake agreement. But I've always only done it with folks I already had a relationship with – people I already know, like and trust. (And I assume you're not talking about just contract assignments — b/c of course in that case, your assignment agreement (or B-C contract) would serve as your agreement.

    Question 2: I've had assignment deals go bad, sure. But not many. They're few and far between really. But I've never had a title company charge me a cancellation fee – EVER. That's a new one for me. Though I can understand it…they want some kind of compensation for their time invested in the deal I guess. But that would be enough for me to look elsewhere for closings.

    Hope that helps!

    …jp

  • Jim

    I suspect JP and Alex are planning o selling the tips as a product as all good ifo marketing disciples do, so much for giving back.

  • Seriously, Jim? We did a 100% FREE, ALL CONTENT, NO SALES PITCH workshop…FOR 4 HOURS STRAIGHT… And that's just not “giving back” enough for ya?

    Do me a favor and click that little “unsubscribe” button at the bottom of my next email, will ya? Thanks in advance.

    …jp

  • Thanks for that info JP and thank you both for providing quality information, sharing half your day with us, and all for free. I just saw your Kioysaki post, and hate to say it, but I drank the Russ Whitney/Kiyosaki kool aid too. Spent thousands of dollars thru high pressure sales tactics, and you guys presented real life usable information for free. Really appreciate it.

  • mike melcher

    that was totally weak JP. dont post stuff like that, it is bad for your credibility. Your better off not posting anything at all.

  • David

    Did you ever have that free wholesaling workshop with the 17 sneaky little wholesaling tricks? If so, where can we find it? Thanks.