All Forum Posts by: Billy Bell

@Dennis Olson

Yeah i'm wondering about the owning/renting topic mostly to determine how hard it would be to sell. Such as: would i have to narrow my options of buyers to 55+ or could I assign it to someone younger for them to rent it out the the 55+ etc. i have a feeling some to most retirement communities don't allow renters. Like you mentioned, they have their own set of rules so I'm just wondering if it's possible for me to play with this one.

Thank you!!!

Hello BP Community,

I received a lead about a guy who inherited a home from his dad that recently passed away. The son who owns it now wants to sell it quick, but it is in a retirement community that requires the owners to be over 55. I am only 24, so I do not fit that requirement, but I am thinking that there has got to be a way to at least wholesale the property and not officially take ownership. Does anyone have any similar experiences with deals like this? I will call the retirement community now and see if they would allow someone younger to own the home and rent it to a retiree, and other such questions.

Thank you!

Billy Bell

mesa, arizona.

@Dev Horn awesome! That is what I figured, but wasn't sure. My PA already has that clause built in so I should be good to go. Now just to figure out how to use my mail merge to do this instantly to 1000 PA's!

Thank you!

Billy Bell

 That is great info. Love formulas! My mother is a realtor so she pulls the tax info sheet as well as comps on all the properties I get calls on so that is how I would also evaluate properties that i send PA's to directly. The 10% repair cost seems a bit hap-hazard still. What happens if the seller signs the PA and you find out after you need  double the allowance for repairs? Do you renegotiate the price per one of the "subject to" out clauses built into your PA?

Thank you,

Billy

 All good tips! Thank you Mr. Horn, but how do you estimate rehab costs without seing the property? That has to be built into your offer price, right?

Thank you,

Billy

@Jack Butala

In a previous forum about marketing, @Steven Butala brought up an amazing technique for marketing that is direct to point and completely transparent. Instead of sending yellow letters, post cards or anything of that sort, he sends a pre-filled out purchase agreement right off the bat. I am interested in learning more about his method so I asked him about it, and he told me he wanted to share his strategy publicly for everyone's benefit. I love the direct and honest approach, but am curious how he gets all the right data before even talking to the owners and seeing the house. 

This guy has been in the biz for decades so i'm looking forward to the wisdom he is about to share with all of us!

Enjoy,

Billy Bell

Tag: arizona

 Hey Rick,

Great points and tips!! I am interested in what you meant by too many marketers try to "tell all" in their initial letter? I inderstand the value of the tease effect you're using here, but what do you suggest should be included in the initial letter, and the subsequent follow up letters/postcards, to execute this strategy effectively? I will definitely check out the gadget salesmen from tv to learn some of the relative skills! Great tip!

Thank you,

Billy Bell

 Sean,

Thank you for the advice. I have been doing yellow letters for only two months and will continue to do them for at least 6 months to truely find what works. I have been targeting absentee owners from listsource.com, and want to target probate, tax delinquent, erc, but just don't know enough about them to do it efficiently and also legally. So that's something I definitely need to research, just havn't found a trusted source to learn enough about those avenues to pursue them. If you know where I can learn that information, i would be greatly appreciative for your wisdom! 

Thanks again,

Billy Bell