All Forum Posts by: Brionne Moss

So @Michael Quarles, what I was trying to get at is that you have to start somewhere, and if it's not questions off the top of your head then it would have to be a script. I didn't recommend one in particular per se because I don't have the numbers to back it. But I found quite a few of your scripts in the forum which is why I thought it would be a good place to recommend in the first place. You have to start somewhere. 

Of course, the legendary yellowletters. =) Spoken very highly  of. I actually opted to go with Jerry Puckett at Marketlikeawholsaler.com. I plan to start a blog on BP as I just sent out my first batch yesterday. Can really only speak on their company and not the response rate just yet, but they seem to be excellent people. Very kind helpful and responsive. I'm sure like Michael and his team. But I really liked the incentive that he offered to coach you along the way if you purchase one of his mailing campaigns. 

I decided a budget of 3k. To save money, I chose to stamp and stuff them my self. Due to my quantity of 725 letters and envelopes a month for 5 months, it ran me $0.50 a letter/envelope. You have to purchase your own stamps for $0.49 but I found some DEEEPly discounted stamps. I'm sure I'll pay the full services when I get ramped up, but for now, I'll save money where I can. (I'll send out roughly 240 for 3 weeks, once a week every month.)

Regardless how many letters you do, I highly suggest you do at least 5 or 6 months. The key in direct mail is repetition. You shouldn't expect responses until after the 5th or 6th mailer. 

Let me know if you have anymore questions. Happy to help where I can!

Hi @Edwin Fisher,

I have JUST started the exact campaign as well so I can help you out with a couple of your questions.

Based off the forums and trial and analysis from other user campaigns, it is highly recommended that if possible, you should answer the phone if you are available to talk. If you can't then of course you let it go to VM. Don't forget to set up a simple VM message on google voice.

Initially you can have a script, but your end goal should be to eventually take the call without it. For it to become natural. The purpose of the script is to make sure you ask the right questions in determining whether or not the seller is motivated and meets your qualifications. Search BP for phone scripts and a ton will come up. Once you find a good script on the forum, it should have all the questions you need to gather the right information. Current equity, why they are selling, do they have an agent ETC.

Since I'm not real estate pro and just getting started like you, the best advice I can give is to always work hard and go an extra mile. That methodology/thought process has gotten me far in life and I'm sure it can do the same in REI. Wishing you the best Eddie! Keep us updated on your progress.

Whoops @Jared Rogers. I actually meant that comment for @Dustin Benton. But either way, thanks for your input.

@Jared Rogers

For us normal people  with normal finds and no access to huge lumps of cash, you have to just save.

- You can try wholesaling (not saying it's easy) but if you have a couple thousand for marketing, you can build capital with that.

- Birriw from a friend or family is what a lot if BPers say. Personally, I don't know anyone else that has or would even Liam that kind of money. Haha

- Pull from 401k. Not my personal recommendation, but it's an option.

I looked briefly at fundingfirflipping.com a while back, but it's still requires some funds upfront. Haven't heard of the other one.

@Ahkisha Howard

Glad to hear such great motivation!! So firstly, my question would be, what niche are you trying to pursue? Wholesaling? Flipping? Buy n' Hold? I would assume wholesaling since it is the "least" expensive.

Firstly I suggest you start scouring the forums for information. Here's some topics below that you will need knowledge about. PM me for more information or if you have questions.

- Motivated Sellers ( How to tell if a seller is motivated)

- Determining ARV (comps, MLS, Redfin ETC)

- Formula for rentals (since this is buy n hold)

- Estimating rehab ( might want to hire a GC for like $50 bc this is really hard to evaluate in the beginning)

- Purchase Contract

- Assignment Contract

- Investor Friendly Title companies in your area

- How to create a buyers list (networking at local meet ups/REIAs, posting on Craigslist, calling FSBO, Bandit signs ETC)

I think that should get you started. Gotta move fast, don't want this to slip away if the seller is really motivated. Wishing for the best! =)

Hi @Lakeisha Alston,

I know this is an old post, but just interested to know what happened with the land?

@Dustin Benton, how much cash are you actually working with? Regardless of the full price inclusive/non inclusive of rehabs, the most a lender will provide you is between 65 - 80% LTV. On extremely Rare cases, maybe a private lender will do 90 or even 100 on cherry picked cases, but this usually has requirements of being a very experienced realtor.

Do you at least have enough for a 20-25% Down Payment?

Your other option is a 203k loan which has a lower down payment, but it requires you to live in the home for a period of time.

@Alfredo O.

I'm no expert here but it sounds like a like something shady is going on. No two wholesalers should be selling the "same" contract to a house. I would request to see the original assignment contract to verify who is legitimately in charge.

Y'all got this @Cornelius Charles,

I'm sure everything will come out on a positive note even though things aren't going as smoothly as planned. Keep up the hard work. =)