All Forum Posts by: Brent Hill

Anyone do any deals with BRS Better Neighborhoods out of Atlanta?  They are buying one of my properties out of Jacksonville.  Should I have any concerns that they are registered as a Foreign for Profit?  I don't see any issues but always just curious since they just registered in March of this year.  Thanks.

Brent

@Steven Leigh Sorry it didnt work out for you.  I think because of the open-ended nature of the program it may not be a good fit for everyone.  For me it works well for the money paid since I am a full-time network engineer and I have a limited amount of time to be involved in any type of a coaching program so this works well for me.  I haven't gotten much out of it the past few weeks because frankly I havent been participating in any of the classes and discussions because of my other job, family committments and spending so much time with this first deal - which as been a great experience so far.  Glad you got a refund.

I am going to be using Dave Dinkel's transactional funding that I discovered right here on BP.  I will let you know how it goes but so far I am impressed.

I was hoping to have some more info on my direct mail campaign but I havent pulled the trigger on that yet because I just don't have a lot of extra cash flow right now and I absolutely want to be sure I can get the calls answered in a timely and correct fashion if I am going to be spending $1000/mo in direct mail.  I am considering just doing postcards to save money and maybe use another one of the 2-3 people often referred to here on BP for my direct mail.

The course has 9 self-paced lessons.

Lesson 1:

• fill out goals form
• complete affirmations form
• roles of a business
• goal setting
• complete marketing chart
• deteriming a business address

Lesson 2:

• set marketing budget
• order marketing material
• get sky number and recorder
• pick website and web address
• choose business name
• setup and buy 7 numbers using something like RingCentral
• establish a DBA name for your city/county/state as needed
• list your business in directories
• implement a script to talk to 2 stranges a day to introduce yourself and tell them about your business

Seven more lessons to follow..Michael narrates the lessons and most of what he narrates is also in PDF format to download and read later.

Finally finished my marketing chart for the class...it took be about 7-8 hours to finish but here is the process in a nutshell:

1.  MQ provides a excel template with all the data you have to collect for all of zip codes within a 1 hour drie of where you live..the idea is to input all the data for those zip codes so you can determine precisely what are the best areas to send direct mail to

2. You use listsource, trulia and info from the MLS or your favorite realtor for all of the data you will need

3.  For each zip code you will do the following:

a.  determine the number of SRF

b.  determine how many REOs

c.  determine how many preforclosures/preforclosures

d.  determine how many cash transactions have been perfomed by absentee owners in the past 6 months

e.  determine median sales price

f.  determine avg DOM 

g. determine how many SFR have 30-100% equity under the Median sales price

h. determine how many SFR have 30-100% equity that are in the bottom, middle and top 1/3 under the median sales price

All of this data is compiled against certain factors and percentages and tabulated in 2 different spreadsheets and then is ranked.  Once you determine your monthly budget, you can use this along with your mailing criteria to determine how many pieces and exactly where you will be mailing to.

This whole marketing sheet is then analyzed and a monthly analysis is done to look for monthly trends that may affect your offers differently for certain zip codes where values may be trending up or down.

I will have a monthly analysis and my customer list done by the end of this month.  I will share the details of that process when complete.

@Steven Leigh  The courses are set on a schedule for the week so you can sign up for whatever classes fit your schedule.  The classes and structure of the program is very flexible and open-ended.

@Aaron Cooper  Yes, I have avoided that area as well since I posted that.  On a brighter note, I just picked up a nice 3/2 in 32277 an area code I love!

@Nancy Burch I am a wholetailer and a licensed RE agent here in Florida. I buy off-market houses at 65-70% of as-is value, get a list of estimated repairs, order a BPO and list the property on MLS. I do a double-close on all my properties using transactional funding. I typically purchase homes from 50-150K but have the ability to purchase at a higher value if the right deal comes along.

@@Steve I haven't started mailing yet for reasons not related to the program.  I have other lead's I have been working and overall you working on finalizing my processes and practicing the seller script....just don't want to spend money on marketing until I am prepared to handle the calls...hope that makes sense

Just a quick update for any of you thinking about modeling your investing around MQ's methods. I sat down with my broker today (who is very investor friendly and invests himself) because i wanted to give my property to a fellow agent in our office to list next week and I showed him the 9 page contract that I have with the seller. The contract showed a $10 EMD which the seller and I agreed to and my broker was very concerned and thought it might be illegal and still wasn't sure about listing a property on the MLS that I had equitable interest in.

So we called the Florida RE legal hotline - No problem with the EMD and no problem with the listing as long as your local MLS rules allow it - NFLMLS does allow it as my broker and I both spoke to them last week about it.

Here is the value we brought to the sellers:  2 sons obtained property from father through probate. Father had a note on property with a final balloon payment due last year that was never paid!  They have kept making the monthly payment but were facing possible foreclosure and could not afford the bills, upkeep and taxes on the property.  Before the father passed, he wanted his grandson to have the property for taking care of him but never put it in his will.  We gave a cash offer and with the proceeds the grandson wanted to find a small trailer with some land and a fenced yard in the back for some chickens.  Fast forward, i found a place for him but the cash from the sale won't be enough to purchase the trailer and land in full.  Make a call to a friend of mine that deals in trailers and he agreed to buy the place, sell it to the grandson with the proceeds as a down payment, finance the rest, put a small fence in the back yard and pay his closing costs.  The grandson couldnt be happier and the uncles are relieved the place will not be forclosed on and their nephew will have a place and enough money left over to buy a used car.  Heck I even gave him $50 this morning to fill his car up with gas.  Hope this helps others..just wanted to share my first deal and the real life story behind it.  Already have a couple of offers on property and an offer to finance 100% of the purchase price if I wanted to hold it to flip.

Ordered my BPO today for $150 from coester.  I also have a good friend that is an 203K certifiend consultant that is going to do a cost of repairs and detailed SOW for me Tuesday for a good deal so armed with both pieces of information will be very powerful.  I have already had a good cash offer that would net me a very good profit it already for my 1st house and that led to an offer of financing the property if needed at 100% full value for 10% interest and 1.5 pts...good option if I need it

For my first one, I am going to wait on the BPO and SOW work with repairs before I list it.  So far everything is working just like the program describes.

@James Fisher...absolutely!  Happy to help in any way I can.  Please call, text or email any time.