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All Forum Posts by: Alison M.

Alison M. has started 15 posts and replied 215 times.

Post: Short sale pocket listing. Fraud?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

@Bill Gulley , could you be more specific about which regulators to call? For example, I am in VA and do deals in VA, DC and MD. Is it the same everywhere or does it vary by state? Thanks.

Post: What is the average payout for a wholesale deal?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

I shoot for as much as I can get away with while still making a good deal for the end buyer. I've had as little as $5k and as much as $40k. One woman at our REIA club got a $100k wholesale fee recently - really!

Post: DEAL rate - Postcards vs. Letters

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

I've never used them. However, I call on ones that I see or have one of my kids do it if we're driving. Never have gotten the investor on the other end of the phone! Just voice mail, call centers, or dead air.

Post: So, what lead management software do you use?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

@Jerry Puckett I looked at Streak and it appears very much like Pipeliner without the pricetag. Thanks for the tip. Unfortunately I don't use gmail so can't use Streak.

Does anyone know something like Streak that will run with Outlook?

Post: Any good strategies for using equity in existing home for investing?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

After going from a reliable paycheck to self employment 5 years ago, I am adamant that I will *never* take on another mortgage again after we sell our current residence. I don't know your other financial circumstances Robin but unless you've got an annuity that covers your mortgage or another iron-clad income stream I would keep your paid off house just like it is - paid off.

Post: So, what lead management software do you use?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

I use a Word table with embedded docs for leads, and an Excel spreadsheet with hyperlinks to my mailing lists to track marketing and response rates.

I also recently did a 30-day trial of a product called Pipeliner which I liked very much and am interested in buying, but can't justify spending the money if I can still do it in my home-grown system. I liked Pipeliner because it was very visual like a flowchart, as opposed to being table-based like most CRM and SFM systems.

I also have a software development background.

Post: Direct Mail to Tax Delinquent Properties

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

Hi Aaron. I have learned over time NOT to say anything specific on a postcard about owing taxes. People feel exposed if postcards are floating around saying they are behind. Either send something in an envelope, or just include back taxes in the list of problems you're willing to help them solve on your postcard verbiage.

Post: Cold calling potential sellers?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83

There's no down side to calling. I make cold calls all the time to owners and rarely get a hostile response. Just use your friendliest voice and you'll do fine.

Post: How is private money typically replaced at the end of the term?

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83
Originally posted by Aaron Mazzrillo:

My favorite is to secure great seller financing on a total piece of turd property and then walk that to another property I want to keep.

Aaron, could you describe in a bit more detail how you "walk" the other property? Sounds like an interesting concept.

Post: Trying new marketing routes!

Alison M.Posted
  • Real Estate Professional
  • Falls Church, VA
  • Posts 238
  • Votes 83
Originally posted by Ned Carey:

December might be a terrific time to send hand addressed letters that look like Christmas cards - They will get opened. The message could be get money for Christmas bills by selling your house. - Ned

I sent out that message last year in December only on a post card. I got a slightly higher than usual response rate ;-).