All Forum Posts by: Aaron Einfrank

Hey Danielle Cage - Congrats on taking action. I'm one step behind you so I'm looking forward to the responses to your question. Would you mind sharing more details about your marketing plan? How many mailers did you send out? Who did you target? High-equity? Absentee? Probate? What was the message on your mailing? Thanks!

Hi Everyone - I am preparing to send out my first direct mail piece here in the next few weeks.  Being new to the business, I am on the lookout for another experienced wholesaler or flipper here in Columbus to guide me through my first few deals in exchange for a chunk of the profit once the leads start rolling in (hopefully).   If you are interested, please reach out!  Thanks!

@Chris Washington Thanks for the advice.  Those are some really good points.  I absolutely do have a financial plan broken down by year with the goal of achieving approx. $1.5m in equity in 6 years which is what I estimate that I will need to generate returns necessary to replace my current income. 

My main focus over the next 30 days is to generate motivated seller leads.   I plan on building my pipeline through direct mail and have set a goal of sending my first mailerby June 4th.  Between now and then, I will be looking for another experienced wholesaler or flipper here in Columbus to partner with on the first few deals to help me work through the process so if you have anyone in mind that would fit that description I would appreciate a referral!  

Hi Everyone!  I have a confession.  I am not really a new member.  I have actually been on Bigger Pockets since 2008 and I have yet to actually make a real estate investment of any kind.  The reasons why I am where I am today are probably the same as everyone elses who find themselves in a similar position but the main one is not being able to hold myself accountable.  Thats where I need your help...

A few weeks ago I was reading through the Bigger Pockets Blog and came across an article titled You're Just One Relationship Away from "10xing" Your Goals by Michael Blank.  In the article, he talks about how the key to achieving massive results is to share your goals with the "universe" so that you can connect with people who can help you along the way.  Not only that, telling other people about your goals is a great accountability tool because if you don't take the action necessary to achieve them its much harder to hide!

So here goes...my goal is to build a real estate business that replicates my current income in the next 6 years.  There it is...out in the universe!  

Special thanks to Michael Blank.  If you are reading this, I sent an email to Robert Kiyosaki telling him about your podcast.  Hopefully it helps! 

I thought it was great how he had everyone gathering around the table practically climbing over eachother to get his program for "free." He was a great salesperson for sure. If you find yourself down here in the TUC give me a call and we can grab some lunch.

I saw him last night in Tucson. All of the "grant" numbers he said to check out on cfda.gov turned out to be a bunch of different HUD loans. I would be interested to hear if anyone has come across any "free money" (ie. money you don't have to pay back) to purchase real estate.

I would agree with the post above about deal structure and rate of return. Those are probably the two questions I come across most often. What are some ways that I, as a new investor, can offer to investors to make them more comfortable with partnering?

One thing to remember is that if you have budgeted properly for vacancy, the money used to money used to carry these properties when they do go vacant will come from the reserves you have created not from your pocket.

I would like to get some feedback on the following scenario:

I acquire a property “subject-to†with a retail value of 200,000 for the balance of the existing mortgage which is 160,000 and has a payment of $933 per month.

I turn around and sell that property to a retail buyer for 200,000 with “seller financing†with 5% down at 7% for 30 years.

This would be secured by some sort of note (not sure what type could someone fill in this blank???)

If all goes according to plan (iknowiknowiknow) I will pocket the difference between the payment of the original mortgage payment of $933 and the new payment of $1264 which is approximately $330 per month.

If the person fails to make their payments I would foreclose and start the process over with another 5% down and another 30 years.

I see this as a way to create a steady stream of income without having to deal without being a “landlord�

Is this a viable way of providing seller financing without owning a property free-and-clear? Is there anything I am missing? What problems would I run into here? Are there any ways I can make this more advantageous to myself or any

"Short Sale This House!!!"

Sounds like a new show on HGTV.