Hello Bigger Pockets!!!

[Jacob I Strauss]

Hello everyone brand new and getting out there looking for deals out here in Sunny San Diego. From what I can find here it seems like a lot more flipping than BRRRR going on because my market is just so expensive, but I have been considering Remote investing.

At the moment I have been driving for dollars about to generate some postcards and see if anyone might be considering selling their homes. Has anyone been doing this with any success or even some crazy stories about your experience? Do you prefer to send postcards via direct mail or leave on their porch or doorway? I currently have an agent, and a contractor lined up I went with a loan depot lender though considering hard money lending if the right deal comes along and I can only throw down cash. Is it worth going through a lender for a 203K loan or should I just stick to a hard money lender? Any tips for getting started is very much appreciated I thank all of you for all the content and feedback such a great community it's like drinking from a fire hose but im drinking from it everyday.

Have a wonderful day everyone and happy hunting out there!!!

[Jim Kalish]

@Jacob I Strauss D4D is a proven method of generating deals but its not for me.  Very time consuming unless you can afford to hire a bird dog or 2 to do it for you.  There are a lot of other ways to generate leads that are also proven to be successful.  Using software like Propstream or DealAutomator are more expensive than D4D but you can generate a targeted list anyplace in the country and get out a lot more mailers, emails, and no-ring voice mails.  And these types of services do all the skip tracing for you.

As for leaving postcards at the resident, it all depends on if the person living there is the owner or a tenant.  Most likely the tenant will just toss it.   For that matter most owners toss it too but you are more likely to at least get it to the right person.

As for financing, it will depend on how much time you have, the condition of the property, and what your budget is.  You should compare costs.  Loan Depot's rates are going to be a lot less than hard or private money.  But they will take longer and will require an appraisal.  Private money lenders have higher rates, around 8-9%, but are quicker.  Some will require an appraisal and others will go by comps.  And then there are true hard money lenders.  Most will close in a few days.  But it will cost you big time.  Double digit rates and points.  So each deal will be different.  And don't overlook creative financing like the owner financing or a wrap mortgage.  CleverInvestor has some really good training on these and the price of their training is really good.  I got their creative financing course for 100.00.  And I felt it was very complete.  Not just a big sales pitch to try to upsell you, which is what all of these 4 hour so called seminars you see all the time.  But be careful with anyone who offers training for free or real inexpensive.  They will try to get you to join a mentorship program.  That can get real expensive real fasst.

Good luck!