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Posts Tagged ‘wholesaling’

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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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Hi Everyone,

Thought I’d give an update on what we’ve been up to lately. 

Buying a Rental Property – The past week or so, we’ve been looking at a ton of properties on-line and even saw a couple with a local realtor.  Last weekend, we saw a duplex and a triplex in our area.  The duplex is newer and in really great condition. One half is rented for $1400/month from good, long-term tenants who want to stay.  The other half is occupied by the owners who need to move out of state.  It’s a short sale and has been on the market over a year…and it’s still overpriced.  We wouldn’t consider making an offer anything close to asking price, but we’re still crunching numbers.  The triplex was a much older home that needs a complete rehab.  It would qualify for Homepath financing, but I think it’s more rehab we want to do for a rental.  If we could get it cheap enough, maybe we could flip to a local landlord.

Wholesaling/Buyers List – I’ve also been calling bandit signs and classified ads looking for wholesale buyers.  I am figuring we can target more buyers and what they’re looking for so we can find wholesale deals just for them.  Many of the other cash buyers on our list we obtained either from our Craigslist ads or our website, which is fine, but we also want to shop for deals specifically for our local buyers.

We Need Money – Lastly, we are looking for money for deals.  I am considering purchasing the Private Money Blueprint course.  I also have seen some “cheaper” courses on the same topic.  If anyone has feedback on obtaining private money or courses to take, that’d be great.  I also have been contacting local commercial/portfolio lenders looking to see if they could fund rentals for us. I talked to a great guy yesterday at a local, small credit union.  He gave me a complete rundown of their rates and terms and really walked me through their process, so I’m gonna keep him in mind to see if that will work for us.  The only sticking point with that option is if we buy more than one rental, we may not (initially) have all the downpayment money needed, that’s why I’m thinking we need private money, too.

Happy Investing and Happy 4th!

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Hello Everyone,

I found this video on REItips.com, which talks about The Secret, Law of Attraction and Real Estate Investing.  I love it…check it out!

Do you use The Secret, Law of Attraction, Power of Positive Thinking, etc. to help you succeed?  I think using positive thoughts and motivation helps in all areas of life.  And, getting rid of negative influences (or people) in your life is a huge help.  I don’t like getting sucked into people’s drama or negative vibes.  I just try to distance myself from all that negativity.

What do you think?

Happy Investing!

PS – Happy Father’s Day to all the dads  out there!

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I took a break a little while ago from my blog and the whole investing game.  I have been super busy at work and my personal life has been downright crazy for quite some time.  I’ll spare you all the details, but in a nutshell, we’ve had a lot of illnesses and losses in our family.  Most of my free time was spent caring for sick and ailing family.

Instead of crawling under a rock, all of this sadness and grief makes me more motivated to give this real estate thing even more of an effort and truly succeed.  I’ve seen too many people live their lives working like dogs at a job they hate and never having the time or opportunity to really enjoy life with their friends and family.  I’ve also seen first hand people that have left this earth too early, never even having the chance to follow their dreams.

So, all of this heartache gives me the motivation to press on and move forward.  I am a fighter, and because I a job, husband and a child, I don’t have the luxury to stay in bed and feel sorry for myself.  Moving forward is what I must do.

[picapp align=”none” wrap=”false” link=”term=motivation&iid=5289625″ src=”6/9/0/f/Man_climbing_ladder_aa3f.jpg?adImageId=13107913&imageId=5289625″ width=”234″ height=”449″ /]

I’m going to start marketing again and possibly buy some motivated seller leads.  I’m planning to do more to promote my website and also finalize our LLC for investing.  I also am trying to plan for my exit from my job.  It’s going to take longer than I had originally planned, since my husband got laid off, but I still don’t want to lose sight of that goal.

For motivation, I’ve been reading books, like the 4 Hour Workweek, and even Steph’s Flip This REO ebook.  I keep listening to investing podcasts and success stories, like the ones on Steph’s blog.  Those really keep me inspired.  I also read tons of investing blogs (check out my Blogroll).  I love hearing about other people investing, especially those who are trying to balance a family and/or a full time job.  Juggling it all isn’t easy, but it can be done.

How do you stay motivated?  How do you juggle investing with your family, job and other personal commitments?

Happy Investing!

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I read this hilarious article over at TampaSteph’s blog about a recent situation she had with one of her wholesale investor buyers.  It’s a quite a laugh and she’s a great storyteller.

Check it out here.

Happy Investing!

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