All Forum Posts by: Yu L.

@Rick H.  Thanks for the input.  What if the owner is still alive and I don't have further contact info., the next best thing is to skip trace and get the relatives info.

By saying relatives, I really don't know what their relationship is, it is suggested by the skip tracking service that they are "relatives"

What would you recommend for those cases?

I skip trace some returned mails, some owners were deceased, some just don't have additional mailing info. 

I was able to found the relatives mailing addresses for some, I wonder what other people do what that?

Do you send the mail to the relatives, with the letter addressing the owner but put the relatives name on the envelope? (basically using that same letter that you send to the owner)

Or you would state it clearly that "I am looking for Mr. Property Owner, I hope you can help me......"

Here is what the house looked like before.

@Brandon Foken  It is in Redwood City, CA

I sent a letter and the owner called me back, not immediately though, it was about 3-4 months after I sent out the letter.

I have been on an off with my d4$ campaign without any success at all.

However, that method is mentioned by several guests on the podcast, so I decided to work on that again.

Here is the details of the deal.

Contract price: $530k

ARV: $800k (my conservative estimate, eventually it was sold for $832k)

repair cost: $80k (the guy who bought it said it is $130k, I think it should be closer to $100k)

rehabber bought it from me at $570k, there is still a $230k spread (based on my estimate,

the real spread is $262k)

Lesson learned:

The median price in that neighborhood is around $1.1M

I never thought I could find a d4$ deal in that area.

deceased

The advantage of 1800 number is the caller can't block their ID, you can always call them back.  However, for those who block their ID, most likely they are not motivated sellers.

I am working on a lead, the seller is actually shopping for offers. (he said he
received multiple offers, there are other investors bidding
on the property)

Here comes the number
ARV ~ $620k
repair cost ~ $80k (that's a bit over estimate, I think it is closer to $65k - $70k)

I am offering $393k

My offer is definitely more than the 70% off, minus repair,
however, I think there is still $100k profit to be made.

After I sent the offer, the seller called and
asked me to reconsider my offer.
I told him I don't want to waste time and asked how much
he wants, he said $440k. He told me that both me and the other investor's offer are below that.

I know that no investor will pay him $440k (well, maybe someone will)

My question is what next?

My plan is just to wait for a few days and call him back
and maybe I add another $3k to $5k to the offer.
Any suggestion?

@Peter K.Thanks for tagging me.

Looking forward to meet you guys. Especially @Account Closed @Jimmy T @Amit M.