Find 20% Price Discounts on Rental Properties (Consistently!)

[@iamtjking]

Great video! My wife and I just started driving for dollars in our market. We have the goal of buying a property this year and joining the RPM coaching program.

[@CoachChadCarson]

That is awesome! Let's go! Driving for Dollars is my go-to strategy. Can't wait to work with you in RPM.

[@sailinghome3838]

Good episode. Wholesalers are great, but the market is so flooded with poor ones that just try to daisy chain deals it’s gotten difficult to work with them unless you already had a relationship

[@CoachChadCarson]

I agree there are a lot of below average wholesalers out there. They usually don't know what they're doing. But that's also why when I find the good ones, I work hard to be on their short-list!

[@iamtjking]

@sailinghome3838 What are some traits of a wholesaler that you'd love to work with?

[@AberrantArt]

🎯 I've told so many people my exact buy box. ZERO deals came my way.

[@CoachChadCarson]

Honest. Value repeat business. Communicate transparently (not hiding a bunch of stuff). Hustle/hard worker.

[@CoachChadCarson]

Would you say you know any of those wholesalers well? Or is it more you've talked on the phone or emailed with them? I've seen people have more success taking the good wholesalers to lunch, following up with them repeatedly (they won't always remember to contact you), and building more of a long-term communication channel so they don't forget about you.

[@gfoster173]

Just signed my next deal Friday ! Number 4 for me. Took almost 18 month but this area (central Ohio) has been tough.

[@CoachChadCarson]

Congrats!! Central Ohio definitely has competition and growing prices. Keep up the good work!!

[@adelrezk3758]

Great episode!

[@CoachChadCarson]

thank you for watching!

[@leeroach3381]

Very helpful Thank you for sharing this

[@FinancialFIRE-Fighter]

Great Video

[@CoachChadCarson]

Thanks for watching, Marc!

[@jessescott3558]

Excellent

[@CoachChadCarson]

Thank you! Cheers!

[@jomthomas12]

Did you discuss how to find wholesalers in your area?

[@CoachChadCarson]

To find good wholesalers, you can start with an internet search of "sell houses fast + [your town]". Just call down that list of results. If they’re spending money on marketing, they are likely getting deals (or have in the past). I also like posting to Facebook Groups and other local forums that I’m looking to meet wholesalers and get on their list. You’ll get some good ones and bad ones, but just follow-up with all of them and see if you can begin to tell who’s for real. Also call the “bandit signs” if you see any locally. We Buy Houses signs still generate leads, even though they’re illegal in most places. And finally, you can go to Foreclosure auctions and other auctions and try to meet people there before and after. Or if you’re long distance, you could send letters to cash buyers who recently bought properties at auction and ask to connect with them about future deals they may have. Hope that helps!

[@ncmay1112]

@@CoachChadCarsonyou have quickly become my favorite source for info! Your video are superior compared to others on this platform!

[@CoachChadCarson]

@@ncmay1112 thank you so much! That means a lot.

[@TheHamm1124]

This is awesome. I live a few hours away in Okc!

[@CoachChadCarson]

Very cool! Justin is a great one to follow.

[@phil1954]

Two comments. First I find myself renegotiating many wholesaler deals because they do not take into account the buyers holding costs and fees they must pay to disposition the property. Second, consider doing a video on what we should expect from the wholesaler. Many times they want us to just sign a contract but they do not have a good contract on the front end. I've had my earnest money held up for months because the seller decided not to sell to the wholesaler, but the wholesalers contract was written where I could not get my money back.

[@CoachChadCarson]

good feedback, Phil. Thank you. I've had to renegotiate with wholesalers as well. I think a lot of people don't realize that's possible. If they have another buyer at their price, you may not be able to negotiate. But many times they're willing to drop their price to get a deal done. And thanks for the suggestion on a future video.

[@ncmay1112]

How do the wholesalers acquire these properties?

[@CoachChadCarson]

lots of different marketing channels, but they often include: - direct mail to various lists - websites - ads (radio, etc) - signs - door knocking - cold calls - driving for dollars

[@geraldlofton]

They want almost full retail for them , I’m so sick 🤒 and tired of this that I’m going to start what I always wanted (guaranteed deal buy box 20% off ) for up to 10 deals that way every that joins get 5k-7k per month (DFY) Sound Good Nice and Ez, ❤️how many want that no hassle just income

[@lusu6804]

A “little nest egg of 50k - 100k.” Sounds good but that’s not your average viewer

[@CoachChadCarson]

thanks for the feedback. What would you say is more the average viewer?

[@ahsenchaudhrymd]

I don’t see any deals with 30% discounts. The wholesalers want to make 10% for themselves.

[@geraldlofton]

They are selling at near full price

[@CoachChadCarson]

Gotta look at a lot to find the gems. But they're out there.

[@matbob7249]

Distress is selling at retail now, unless it’s declining population hub or war zone. Market is sick, it’ll heal one day, but not today

[@CoachChadCarson]

I've seen several deals closed lately below market and in good locations. One on the MLS, others off-market. Not easy but they're out there.

[@motley06]

It's not a bad time to focus on paying down high interest debt, selling your worst performing asset, and investing stocks. REI is tough right now

[@matbob7249]

@@motley06 it has never been a good idea to buy real estate or buying anything having high interest debt

[@motley06]

@@matbob7249 agreed, but everything is relative. I just took out a commercial loan earlier this year and it’s 8.5%. That was a pretty good rate at the time, but compared to loans I got in 2022, it’s terrible. It’s not like credit card debt, but that’s likely what I’m going to be focusing on until something better comes along