All Forum Posts by: Shanequa J.

I'm new to direct mail. All calls go to an answering service. I call back everyone,even those that don't answer the questions. Sellers tell me they have called other investors, but they never answered nor called them back. It amazes my anyone would spend the money and not talk to callers. Maybe they have a leads following in and some fall through the cracks. Who knows. Either way, I welcome it.

@Princeton Washington I talked to about 15 sellers. Some of the prices they wanted were ridiculous.

After 2 months of DM, a truly motivated seller called. She set the closing date for June 1. I got the property for 70%ARV-repairs.

Pictures will be posted. Inspection is next Saturday.

Have a business plan or a list of criteria that justifies flipping or holding. Having a plan makes it easy so you won't have to go through this same thing every time you get a deal. 

You can adjust the formula according to your area. In Houston, I've seen wholesale property going for 80%-repairs.

I cant wait to attend. It's set in my calendar. 

Yes, it is expensive. It's too expensive if you ask me.

Brandon did a tutorial on setting up a Wix website. I don't know the link for it. 

Marketing the country is a lot of work and expensive. Do you have the systems in place for other states? You gotta have someone there that knows the area, can get you comps, and look at the property.

I don't use Google Voice for wholesaling. I looked into Patlive and it's expensive. I suggest you start with something more affordable until you start getting deals. I live Voice Nation. They do what they are supposed to do. I called one day and the operator did not ask all the the questions. I call everybody back so it's not a huge deal.

I used Investor Carrot and got someone on Fiverr to tweak it. It's expensive at $500 a year. Seeing how easy it was to personalize it, I would have went with Wix or Wordpress and hired someone to add the extra designs. However, I've heard others say Investor Carrot is good for capturing leads. So far, it is not. 

No deals yet. I get calls, but none low enough for me to buy.

Are there any lenders that allow a seller to hold a note in addition to the first position loan?

Scenerio: 70%ARV lender loan with a seller subordinate 10% note. Is that above scenerio possible in today's lending market?

If so, what lenders are offering those?

I'm thinking about getting into holding notes for properties that don't meet my flipping or rental cash criteria. I'd go through a RMLO and use a third party for payments. 

The pros are you get a down payment, no tenant problems, and you can sell the house on the higher end of the comps than you could with a traditional buyer.

The cons are if you have to foreclose, you would have fees and possible repairs. The other con is they might refinance. Refinancing is only a con for investors that want the monthly cash flow.

Has your realtor listed properties with owner financing before? Do the buyers still want the same benefits as a bank qualified buyer ie low interest rate and low end of the comps?