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Posted almost 15 years ago

My continued mission to takeover Joplin, Missouri

So the last few attempts didn't go so well.

I've decided to step up my game and make a serious commitment to buy houses in Joplin, Missouri via "Subject To" 

What I've done is this:

added a Realtor named Cindy Moore to the team. 

I've also placed an ad in the Joplin Globe under Real Estate Wanted secton, that's running about $300 a month. This ad is running everyday for 30 days so it's costing about $10 a day. 

then I've still continued to post in Craigslist and Backpage, even though it seems I'm the only one posting. I just don't think Joplin has found out about CL and Backpage. 

Then I've ordered several hundred(I think I'm up to 400) Bandit Signs, some of them are free due to the promotion that they're having and the other ones are average price. What I'm doing is having my uncle place them on Thursday and Friday nights. I'm paying him $1 per sign and I was originally only going to have him put out 25 a week but decided today that I wanted to go bigger than that do I doubled it and go to 50 a week. I placed another order today for 125 signs. My uncle has started placing the signs that I've already ordered weeks ago and was storing at his house until I was ready to have him place them.

The signs are your basic but effective WE BUY HOUSES sign with 'We take over payments' added to it. I placed my Joplin phone number that I aquired through skype (if you don't have skype, you're missing out) and they're forwarded to my cell phone so that I don't miss that many calls. 

I also plan on doing some keyword searches and having some articles/blogs written by BP's newest writer OZ and submitting them to show up for searches on google in Joplin. OZ has done a great job at writing articles for me and I'm showing up in the top 5 for searches in the phoenix area, I'll have these articles written in a fashion that highlights "Subject To" in Joplin and wil link it to my Submission Form page on my site. 

 

My plans/goals are to throughout next week network with local investors there(via phone/email) and wholesale a few of the houses that I'll get that need extensive work considering I'm not local. 

Houses that are in decent shape that might need paint,carpet and some clean up I'll take Sub2 and have my uncle handle the work. He's trustworthy and capable and we've talked about my plans and how I wanted to include him. Once I get them Sub2, I'll sell them via Lease/Options. 

Other houses that are great condition and that I can get for a great price I will either hold onto as rentals or offer owner financing and just keep the note for long term. 

So I'll have 3 exit strategies to utilize depending on mortgagae balance and condition of house. 

If you've read my other blogs, you'll see that I haven't had great success with buying the last few properties in Joplin. What I've decided to do is have my realtor meet with the sellers to sign the papers to complete the Sub2, collect the keys etc...

if you've read the other blogs I've wrote you'll also notice that I believe it's not a great idea to blog about the progress, for some reason, as soon as I did, I lost the deals. What I will be doing now is keeping track of everything and then blogging about my success once I've completed the deal. 

I know I've went a little overboard on the links in the text, but I wanted to show you exactly who, what, when, where and how I'm doing what I'm doing. Then once a deal is successful I'll go into detail about the deal and how it was done. This way you can watch and learn and see exactly what I'm doing. I'll also take pics of the checks and post them up for proof. 


Comments (6)

  1. Good luck with your deals in Joplin, sounds like you've put together a pretty solid plan. I look forward to reading about your success out there. Jeff


  2. I can't wait to find out how all this turns out. Good luck. Maybe you might turn this town into the next hot spot!


  3. ya, cashflow isn't a problem. It's about the same distance to Springfield as it is Tulsa


  4. I assume it cash flows well with SFRs being pretty cheap. Closer to Springfield than Tulsa?


  5. I think there is a lot going for it. They have a lot of history to that town going back to the civil war and how instrumental Joplin was. The city itself is growing at a slow but steady rate, with major companies popping up on the map there as well spurring more growth. They don't see the major swings like Phoenix does. And it gives me more reason to visit my family and friends that live there.


  6. What is it about Joplin that has made it your target? I make it a point to swing by Steak & Shake when I cruise through, but what else does it have going for it?