Market Question

[Stephanie Dupuis]

Things seem to be stagnant in my area right now.

There's very low inventory here and it doesn't seem to be moving. It's odd, the sellers won't budge on their list price (which is high) and nothing new is really coming on the market (a few here and there). Stagnant.

Any one else seeing this? What's this about?

[Shaun Reilly]

Oh and for marketing you are right that it would not make much sense to do it the way you typically here it getting thrown about on BP.

That is because it is mostly wholesalers that need to find a lot of deals and keep a constant stream of really good deals in the pipeline.

If you are only looking to buy 1-2 properties in a year, or something like that, to add to your portfolio you just scale it back.

You can get a list of absentee owners from MLS data, or from a title company or if you have to buy a list it should be a fairly cheap one since it is easy to get the data. Get like 400-500 names and send out like 100 letters a week. On this scale you can probably do it in house fairly easy and not need to invest a ton of money in equipment either.

At that volume you aren't going to be overwhelmed by the response and since you are buying for a buy and hold portfolio you can more likely find a deal than a wholesaler that needs to buy a 65-70% ARV less repairs (For flip quality) less the fee.

Send out letters until you get a deal then stop if you aren't in the market again for a while.