All Forum Posts by: Brian Compton

Hi @Marilyn Mike, be sure to read through some of the other comments on this thread. The more seasoned investors suggest 1000+ mailers a month if you are looking for a target number. Direct mail is a numbers game. The more you send out, the more likely you'll get a motivated or distressed seller calling you back. Only send a couple hundred mailings and you're a lot less likely to get a response. Doesn't mean you can't or won't, just less likely.

I'm a new wholesaler as well. I've found that anyone you ask will have different advice on which strategy to use. I suggest you look at your time and your budget and use that to decide. If you don't have a lot of cash to spend on marketing, maybe you get on CL and call all the FSBO, drive for dollars looking for vacant properties in your surrounding areas, etc. If you have the cash for a direct mail campaign, maybe you do that. Just remember if you go the direct mail route that you will need to send to the same address multiple times. Plan to mail out every couple of weeks for 4-5 mailouts (unless they call you and tell you to stop sending). Persistence is key.

Feel free to message me if you have any other questions I might be able to assist with getting started.

Good luck!

Scrolling through @Alex Franks older posts looking for the breakdown of Charlotte zip codes! Hoping to find some clarity (examples) of what people consider "B" and "C" neighborhoods.

Welcome, @Liz Logan. Search meetup.com as Tom mentioned and you'll find tons. There is one group that meets daily in different areas of Charlotte each night.

There's also a monthly meetup this Monday (6/6) at the Brass Tap on S Tryon. I want to say its 7-9p. Food, drinks, good networking.

See ya around!

Awesome, yeah that's perfect. Thanks @Tomas Chao. Do you send them postcards or letters? Have you found one is better or worse than the other as far as responses? Or send one, wait a few weeks and send the other?

And are you looking for vacant properties, FSBO, all the above?

Thanks again!

Good morning Winston-Salem BP

I have a potential pre-foreclosure deal to wholesale and I'm looking for some insights. Here's what I know...

The balance owed on the property is $150k. Purchased in 2007 for $185k. Monthly payments are $1100 and interest rate 7%.

The amount to reinstate the loan is $8091 as of 6/1.

I'm struggling finding comps on the property, but best I can tell the ARV would be below the mortgage balance (though est value online is $165k).

When I spoke to the owner on the phone before running numbers, he was open to cash offer or owner financing.

Since I don't think a cash offer would make sense, is the best option to get it under contract to pay the $8k to reinstate the loan and then offer some moving / relocation assistance ($5-10k check?) to the owner?

It's a 1961 home, 3100 sqft, big deck, big rooms, lots of exterior doors, 3 bed / 3 bath, over an acre of land. Looks very dated.

Any insights / suggestions would be greatly appreciated :)

@Tomas Chao What's your criteria for determining where you drive for dollars? Do you have particular zip codes you focus in on (if so, why)? Or do you focus on areas more likely to sell vs rent, or vice versa, based off your preferred investment strategy?

Thanks in advance for any insights you could share!

Looking forward to it @Ian Tudor. There are tons of other local meetups you can get involved in as well. Go to meetup.com and you'll find plenty to choose from once you get to CLT. Let me know if you need any recommendations.

Excellent - I'll be there!

As a Charlotte noob, I'm interested to hear what the others have to say, @Jordin Boyd!

Question - where are you getting your lists from? listsource? Are you mailing to the same property more than once? I think I was taught (or read somewhere on here?) to mail every 2-3 weeks to the same address so you stand out compared to everyone else that just mailed once. Then obviously just stop mailing once the property is sold, foreclosed on, whatever the situation is.

Looking forward to others chiming in! (Sorry I have nothing to offer)

Ditto on that @Sky Mikesell I'd love your attorney referral that can handle lease options.

Thanks bud