90 Day Challenge: Week 5

[Joshua Roat]

The goal for week 4 was to send one letter and I failed. The letter was written, in fact I wrote 3 letters, but it still lives on my computer. This evening I set everything up so that I can print the letters out first thing tomorrow morning and get them in the mail ASAP.

This week was not all that bad though. I did start a spread sheet to track where I've sent letters, how much I've offered and pulled some data from Zillow and Redfine so when I do get a deal I can see how valid their estimates are. The challenge I'm having now is finding something that I can buy for a 'fair' price, rent-out and still turn a profit. Two of the properties that I looked at won't cash flow (at least by my calculations) and the third doesn't cash flow based on the 50% model and only has a cash on cash return of 1.5%.

The goal for this week will be more letters to see if I can find a deal (I've only looked at a hand-full). My hope is that even if the deal doesn't look good the seller/landlord will still reach out and I can at least get my name out there.