All Forum Posts by: Andrew V.

Thanks @Elio Levy, that helps, that is what I've been looking for. I've gotten about 45 calls back so far in the 3 days. I've been getting calls. I'll have to go back through my missed calls to figure out exactly how many calls I've gotten total. I'm busting my tail to try to make every call I can in the spare time I don't have, lunch breaks, the drive home, etc... I just had a little girl who is going to be 4 months this next week also so busy busy.

I've actually really enjoyed speaking with people. Most people are pleasant, most of them just curious as to how I got their info. I've had a few voicemails politely telling me they are not interested, only a couple that have been rude and told me to kiss their you know what. I'm in phone sales now and was in face to face sales before so it doesn't really bother me, just let it go and move on to the next. That would be the reason @Ted Schmidt, that I've chosen to let them go to VM is that I work a full-time job and can't take incoming calls all day at work.

Out of the 15 or so I've been able to speak to I would say I have 1 motivated seller and a couple more possibilities. One lady is a new widow of about 6 months, she and her husband had about 6 properties they own in a small town and she is just tired and ready to sell. Another is a gentleman who is ready to retire with his wife and is at least serious about selling and likes the idea of what I have to offer.

So I decided to put my big boy pants on and purchase my first yellow letters. I sent just over 1000 letters to absentee owners around my surrounding area. They went out just before the weekend and now that I just got back from a weekend getaway I have about 30 voicemails sitting in my inbox. I look forward to calling people although I am pretty nervous as to what to say to them exactly. Any tips on this part would be appreciated, but more than anything I know people like to follow progress on things like this so I will be following up. I am nervous but trying to break through and create my dream.

Like Jason said listsource.com is one of the most popular lists for absentee owners. I know yellowletters.com has their own lists as well. I don't know if they get it from listsource or not but that way they may be able to get the list and send out the mailers for you.

Thanks for the input guys. As I'm working on getting my wholesaling business underway, this is an area I'm not so familiar with. @Bill S, rents would cover the payment and no repairs would be needed for a rental. It's just an older home that could use a little more "Eyeball" to sell. It would make a great rental IMO. I don't currently have the funds to purchase the home from him however.

I'm just so ready to pursue my real estate investing dreams that I thought it was worth a shot to see what you guys thought. If there's any opportunity, which I felt like there may be, I didn't want it to slip through my fingers. I'm going to study up a little more on Sub2 and wraps, but at my current experience level may shy away from this one with no equity. Thanks for the video Brian Gibbons.

A buddy of mine has his house on the market and they've had 0 offers in 4 months. He is asking $147,000, which is probably a little high considering the condition of the home. I think it's more like a $135,000 to $140,000 home. It is a late 1940's home and it could definitely use some updating. After speaking with him I found out he owes $131,000. He is more concerned about paying the closing costs and fees than making a ton of money off the property.

I'm just wondering with you experienced investors out there if there is an opportunity of any kind here. I would love to be able to help him and his fiancé move on from this house while also getting a transaction under my belt. I've considered subject-to, but am not sure if I could do anything with it considering the updating it needs, and not sure if he would be willing to hold the loan if they want to purchase a new home. It is still a possibility though, I have never done one but would be willing if it makes sense.

A little about the home: It is a 3/1, 1200 sq ft, has a 1 car detached garage. and a decent sized yard which also could use some work. The neighborhood is good, and is right down the street from the high school.

Is this something worth pursuing in any way or should I just spend my time looking for other deals? Your input is appreciated.

Thanks guys I really appreciate your insight. @JoelOwens I suppose you could be right and I am just burned out for a little bit. A vacation can definitely do me some good. I haven't had a vacation in this business in about 5 years so I suppose I could use a good break to get my mind right. I do a lot of research to make sure the work I do is right and the friend I'm using does excellent work, just a little on the pricey side.
@DonHines Thank you for your input as well. Although I, like everyone else, want to maximize profits, I am starting to see what you are talking about that hiring contractors. I am 26 years old come November and am very anxious to get going on other investments. When it comes to real estate time is money. I'm also getting a little discouraged and somewhat upset with myself about how long it is actually taking. I'm definitely getting to the point where I just want to get it all done and move on to the next project. Thank you guys so much for replying! It feels good to have other investors hear my situation out and give a little advice.

I bought a small residential house at a great price 3 years ago with the intent to fix it up a bit and resell it for my first investment. I did take advantage of the first year homebuyer program and after 3 years as my primary residence, I don't have to pay the first time homebuyer refund back. I'm currently still working the bathroom, then the kitchen, then landscape and update doors and trim around the house. I owe about $66,000 on the mortgage, and I have a heloc of $22,000 against it to fix it up which I plan on using all of. Houses in the area are selling for around $125,000 - $150,000. I imagine mine would sell for the $140,000 mark or so, and it sits on a big corner lot. It's hard for me to find the time with my current job because I work so many hours as a car salesman. I have a family friend who is helping me with the work since I can't be home to do the work hardly ever. I'm trying to do a lot of the work by myself to save money so the work has been kind of dragging on and I have also rung up about $5,000 of expenses on my heloc (dumb on my part I know) which I am working on selling my boat and paying it down.
The real problem is with my current job. Car sales was fun for the first couple of years. I got into sales so I could learn to sell which I figured would help me be a business owner one day. I was planning on being out of this business already when I finished my house and became an avid investor. Anywho, I have recently been really down on my job. I'm doing okay financially but my heart isn't in it auto sales, it's in real estate. I've never really been a car guy anyway, and it's making me pretty unhappy to be here. I don't know how much longer I can stand it here before I just decide to walk out. I've been looking into other jobs but I also do window tinting on the side. I've dwelled on the idea of just going self-employed in a small window tinting business but am worried that would make it difficult when it comes time to sell my house and re-invest in some bigger property especially since I won't have at least 2 years of tax documents for the business. I feel like I need more free time to concentrate on the house and the car business just doesn't give that to me. Not to mention the stress the business puts on a person.
The other option would be to finish a lot of the house and rent it out for about $400-$500 cashflow every month and concentrate on building a window tint business and possibly work at wholesaling real estate as well for 2 years until I can show 2 years tax documents when it will then be easier to purchase more properties.
I'm just putting this out there to see if an outsider looking in can see a clearer picture than what I can. Any input is much appreciated. Thank you very much!

I bought a small residential house at a great price 3 years ago with the intent to fix it up a bit and resell it for my first investment. I did take advantage of the first year homebuyer program and after 3 years as my primary residence, I don't have to pay the first time homebuyer refund back. I'm currently still working the bathroom, then the kitchen, then landscape and update doors and trim around the house. I owe about $66,000 on the mortgage, and I have a heloc of $22,000 against it to fix it up which I plan on using all of. Houses in the area are selling for around $125,000 - $150,000. I imagine mine would sell for the $140,000 mark or so, and it sits on a big corner lot. It's hard for me to find the time with my current job because I work so many hours as a car salesman. I have a family friend who is helping me with the work since I can't be home to do the work hardly ever. I'm trying to do a lot of the work by myself to save money so the work has been kind of dragging on and I have also rung up about $5,000 of expenses on my heloc (dumb on my part I know) which I am working on selling my boat and paying it down.
The real problem is with my current job. Car sales was fun for the first couple of years. I got into sales so I could learn to sell which I figured would help me be a business owner one day. I was planning on being out of this business already when I finished my house and became an avid investor. Anywho, I have recently been really down on my job. I'm doing okay financially but my heart isn't in it auto sales, it's in real estate. I've never really been a car guy anyway, and it's making me pretty unhappy to be here. I don't know how much longer I can stand it here before I just decide to walk out. I've been looking into other jobs but I also do window tinting on the side. I've dwelled on the idea of just going self-employed in a small window tinting business but am worried that would make it difficult when it comes time to sell my house and re-invest in some bigger property especially since I won't have at least 2 years of tax documents for the business. I feel like I need more free time to concentrate on the house and the car business just doesn't give that to me. Not to mention the stress the business puts on a person.
The other option would be to finish a lot of the house and rent it out for about $400-$500 cashflow every month and concentrate on building a window tint business and possibly work at wholesaling real estate as well for 2 years until I can show 2 years tax documents when it will then be easier to purchase more properties.
I'm just putting this out there to see if an outsider looking in can see a clearer picture than what I can. Any input is much appreciated. Thank you very much!