Posts Tagged ‘wholesale real estate’

Sorry it’s been a while since I’ve posted.  I’ve been super busy with the Holidays, work, a blizzard and tons of family obligations.  Also, I have been terribly sick the past few days…so I haven’t even been on the computer at all lately!   😉    Due to all the holiday craziness, I took a break from REI the past couple weeks (with the exception of checking MLS listings and looking at one rental property).  However, I am planning to get on the horse starting on Monday.

Oh, and right before Christmas, a friend called me saying her daughter had lice (one of my daughter’s good friends.).  Apparently, a ton of kids in another class had it. Yuck!   Ugh..I had to spend tons of time washing everything as a precaution and checking my daughter’s head constantly (thankfully, she’s all clear!!).  So, because of this, I did a ton of research on lice prevention and some good tips for doing so safely.  For example, I sprayed a mixture of tea tree oil and water on her head as one means of prevention (here’s a tip: tea tree oil should be used with caution on pre-pubescent boys!) .  Maybe I should write an ebook about it to create some passive income!

I did get some cool Christmas gifts, such as some workout stuff and some REI books.  My husband also bought me the book The Go-Giver, so I’m excited to read that one.  (Thanks for the tip on that book, Shae and Steph.)

In between resting and watching TV today to feel better, I did take a moment to write down some 2011 goals on an index card.  I wrote down things such as – monetizing my blog and further monetizing my other websites (such as http://www.buying-your-first-home.com), eating better and getting back to working out, creating more passive income streams, obtaining rental properties with positive cash flow, etc.   Did you write down any goals?  If so, what were they?

On an unrelated note, just read this article about how it’s great having a December birthday (the comments are very interesting, too).  For someone who is born right after Christmas, trust me, it ain’t all it’s cracked up to be. I’ve always wanted a June or August birthday.  When you’re born near Christmas, people often forget your birthday and the insulting scribble of  “Happy Birthday” as an afterthought sent on a Christmas card gets me riled every time.  I’d much rather take a (free) phone call to wish me Happy Birthday.  Although since there are 2 other family members with birthdays right around mine (my dad’s was on Christmas Day), my husband, friends and family are really great about making my birthday special.  And my husband knows to NEVER wrap my birthday presents in Christmas paper.  That’s the biggest insult of all! LOL!

2011 is going to be an awesome year!  I still plan to be out of my job this year, baby!

Happy New Year and Happy Investing! 

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Hello There,

Thought I’d post an update regarding our first direct mail campaign.  I bought that list of inherited property owners last week.  We haven’t mailed out all the letters yet, but mailed out over 100 in the past week.  So far, we’ve received 4 calls – not too bad!  I would expect more calls after we sent the rest of the letters. It’s been taking time to stuff, stamp and hand address all the letters, but it’s been a family effort (my daughter loves helping!), so that’s cut down on the time it takes to complete.

Here’s a rundown of the calls so far:

  • The first person who called was a nice guy who has a property inherited from his parents.   His brother lives in the upstairs (it’s a non-legal 2 family). The family just put a sign in the window, trying to sell on their own. I am calling him back today and we’re hoping to see that house this week.
  • The second caller left a message and I’ve left messages for him, so I hope we can stop playing phone tag and talk.
  • The third caller was a very elderly man who was extremely hard of hearing.  He just kept saying “do you want to buy my house?”  Not sure if that’s gonna work, since it was hard to have any sort of phone conversation with him and he hung up abruptly.  Even so, I will be calling him back, too.
  • The fourth caller left a message that just said “hello.”  It was an out of state phone #, so if this person lives out of state, that may be a good lead.  I called the phone # back and left a message to call him. I hope to speak to him/her soon. 

I have been able to run comps on all the properties, since I have been able to get the name and addresses of all these houses (even the last one, I got the person’s last name from the outgoing voicemail message, so I’m pretty sure which property they got the letter about).  There may be some good deals here.  For the house owned the elderly man, I searched public records and it looked like he remortgaged his house in 2006 for well over what it’s worth now. So, that may not be a deal, simply for that reason.

We’re also still looking at REOs to rehab or wholesale.  We really wanted to see that HUD property last week, but the HUD Broker blew us off.  I got in touch with another Broker and she was going to show us the house on Friday, but we cancelled since there was an accepted bid on the house the day before!  UGH!   So, we are going to have her show us a few other houses (mostly REOs) tomorrow since I have the day off from work.

Oh, one more thing – yesterday was July 17th.  What is July 17th, you ask?  Well it was my 19 year anniversary at my company.   Anyway, I talked to my husband and we thought if we can make this REI stuff work for real, I would suck it up and quit on my 20th anniversary, July 17, 2011.  (I’ve even done pension calculations to see what the totals would be if I quit next year.)  I’m so “done” at work I barely think I can make it another month, much less a year.  So, can I make that happen?  Stay tuned…

Happy Investing!

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I just heard about this contest which starts on Monday, 10/26/09.  I can’t wait to for it to start.  Many of the bloggers there are some of my favorites (such as TampaSteph), so it should be a lot of fun.  Check it out – I will be!

Happy Investing!

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Hi Everyone,

I love to read blogs and check YouTube and such for information regarding Real Estate Wholesaling.  One of my favorite blogs has a video which explains how to quit claim deed a REO wholesale deal.  Steph’s explanation is pretty clear and I think it’s a very helpful video.

Check out the video here

Happy Investing!

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This is the dilemma I’m having.  My spouse and I both work full time, have a family, care for elderly, etc.  It’s hard enough to get things done in a normal day, nevermind try to keep your Real Estate Investing business going.

I’ve been toying with getting something that helps investors “automate” their REI business.  The lastest push has been for a product called SIMS. (I’m sure your email inbox was full of SIMS offers like mine was this week.)

I’ve looked at some other programs like Realeflow, MLS Gorilla, etc.  I’m just not sure I am able or want to spend the money to do this yet.  However, with all of my other commitments, it’s hard to fit investing in, so maybe it’s worth the money to save time in the long run? 

Anyone else use one of these programs to automate your business?  If so, is is working for you?  If not, why?

Happy Investing!

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I think the hardest part about Real Estate Investing is feeling confident you have the money to close your deals (especially your buy and hold deals).  It’s tough because in this market there are a lot of deals to be found, all you need is the money.

I saw a link on my favorite wholesaling blog to this webinar regarding private money.  Check it out!

By the way,  if you haven’t checked out TampaSteph’s wholesaling blog  , you must do so!  It’s full of tons of helpful tips and it’s also funny at the same time.  Enjoy!

Happy Investing!

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I’ve been using Craigslist since late last year to generate leads for homes to buy, add investors to my buyers list and also look for good investment property.  I’d say I have had only fair success with it. 

When I post for investors looking to be added to my buyers list, I tend to get a lot of “spammy” replies from people looking to promote a website or trying to sell me a foreclosure list. 

I do track my responses and even try to change the ads around…but I haven’t received any overwhelming response from any of my ads.  I have even written ads that the REI gurus recommend, but I haven’t had that much luck.

Another thing is that our website, although still new, tracks pretty high on the search engines, but I don’t get tons of reponses (yet) from motivated sellers. I need to do some tweaking there.  I’d hate to pay for ads if I can get the traffic/leads for free.  I have been hesitant, mostly for lack of free time, to put out bandit signs, but I may have to resort to that, if the on-line stuff doesn’t provide enough results.

I’ve also posted ads on Backpage and Kijiji, with the same results.

What is your experience with finding deals and motivated sellers on Craigslist?

Happy Investing!

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