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Posts Tagged ‘mailing lists’

I got an email today regarding a 1/2 price sale  on the Private Money Blueprint course from Patrick Riddle and Trevor Mauch.  I read the sales page and decided to bite the bullet and purchase the course.  It was an offer I couldn’t refuse! 🙂  Part of the reason,  besides the price, that I purchased it was because when submitting our REO offers lately, we seem to be getting some issues from banks about our pre-approval letters.  I’m hoping that if we have some private lenders set up, it may make the offer process a bit easier (like making all CASH offers).  I know many people are already PMBP members,  so I’d love your feedback on the program, if you wish to comment.  Oh, and one of the reasons they were holding a sale is because Trevor and his wife had a brand new baby girl – so congratulations to them!  I’m a sucker for a cute baby story!

Also, just a quick update on our latest REO offer.  We’ll, it’s still in limbo.  Partly because they’re doing a Title V (septic) inspection on the property. Once we get the details on that, we will adjust our offer accordingly.  Also, it’s pending because we offered way low (like 80k under asking), based on our estimated repairs.  The house has been on the market over a year.  The bank’s Agent told our Agent that the bank wouldn’t consider our offer and that we should make a “reasonable” offer.  Really?  You’ve been sitting on this house more than a year…isn’t any offer at this point reasonable?  He gave our Agent this song and dance about the bank needs to satisfy their stockholders and such.  Also, he told her that we were just wasting her time and that because we had a pre-approval from a hard money lender, that these types of buyers “never work out.”  What a jerk.  I am sure he’s been burned by other investors before but come on…he doesn’t know me or my husband or what our situation is. He doesn’t know that we’ve done a couple rehabs in the past (our own residences), that my husband has been a contractor, etc.  He can go pound sand, as my dad used to say!  So, who knows if that deal will work out either.

I’m still getting some nibbles from our inherited property mailing, too. The guy I mentioned last time basically wanted retail price, so I told him he’s best to re-list the house with the new Agent.  Another guy called me from out of state, so if he’s the sole owner of a house he inherited here in New England, maybe that’d be a deal.  I also got a lead (via Craigslist) from a landlord on a rental property in town that’s in excellent condition.  He’s asking more than what it’s worth (in my opinion), but I still need to research more. Maybe he’ll do owner financing, who knows?

That’s it for now.

Happy Investing!

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I wanted to give a quick update on our inherited property mailing list results so far.  We still haven’t had the chance to mail all the letters yet (we’ve mailed almost 200), and we’ve already received about 11 calls so far.  A couple people left messages saying they weren’t interested in selling, but were very nice about it.  The other new calls received were about a couple properties already listed in the MLS and a couple new (unlisted) leads.  The hard of hearing guy, and his son, called back again, too!  We’re going to follow-up on these this week (I’ve already left messages for some to call me back).  I’ve been very happy with the number of calls received from this list.  Maybe it was the fact we hand-addressed and stamped the envelopes?   We really hope the mailing results in a deal…and if it doesn’t this time around, maybe it will when we re-mail to this list in a few months.

We also looked at a few REOs on Monday…looking for some rehab/wholesale deals.  However, the rest of the week was very unproductive REI-wise, since we had relatives staying with us to attend a funeral.  So, we gotta get back into the swing of things starting tomorrow.

Happy Investing!

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Hi Everyone,

Thought I’d give an update on our activities this week. 

On Monday, I had the day off from work so my husband and I took a drive by about 8 properties in the area, mostly REOs, that thought might be good wholesale prospects.  We were planning to see one of the HUD ones yesterday, but the broker didn’t get back to me.  Lots of good deals there, for sure, just not sure if I can get them cheap enough to wholesale.   Oh, and one interesting thing happened.  We took a look at this REO that was out in the middle of nowhere…it was 45 minutes away and really rural.  Anyway, we finally get there and pull up to the property (funny, we could see all the houses on this street on Google Maps except this one) and it was set very far back and behind a fence and then some shirtless dude (son of the owner) comes up to us, telling us to get off the private property (cue the Deliverance music).  He was giving us some song and dance about the property not being for sale, tell the bank it isn’t for sale, blah, blah, blah.  Well, we didn’t know if the dude had a gun or whatever, but we got the heck outta there, we didn’t even have a chance to take pictures.  So, I emailed the guy at the bank I was working with and told him what happened and never heard from him again.  Weird, cuz he had been emailing me all week, asking if I had checked it out yet…he is out of CA so his company hadn’t had a local rep out to see the property yet.   As much as we are looking for a hot deal, I’m not going to deal with that much drama.

I also have been doing more to build our Buyers List.  I have been also calling other investors’ ads to get them on my list.  One guy advertises in our local paper daily looking for multis to buy.  We’ve been playing phone tag for over a week, but I want to talk to him soon to find out exactly what he wants and get properties under contract just for him.

Lastly, I had been trying to get my makeshift probate list together…it’s been taking forever.  I’d been looking up public records data on-line and then trying to find the Executor/PR and then seeing if there is a property available, also using public on-line data.  I also have checked out the Probate Court records, but since that office is 45 minutes away and closes pretty early, I don’t get a chance to get there myself very often.  I may outsource going to Probate Court at some point.  Anyway, I got a good tip from Shae Bynes from goodfaithinvesting.com.  She talked about an inherited property mailing list that she used for marketing (this is the 2nd time in a couple months I’ve heard about this type of list).  So, to make a long story short, I bought the inherited property list from a list broker.  This list broker supposedly sells only 2-3 people per county, and there is no one else in my county with the list.  There are about 250+ names on the list, so I’m going to send out those letters soon.  I was going to outsource that to click2mail.com or something like that, but my husband and I are trying to keep costs down so we are printing the letters ourselves and writing and stamping them by hand.   (BTW, if you haven’t head Shae’s success story on flipthiswholesaler.net, check it out.)

Happy Investing!

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