All Forum Posts by: Carlos Carbajal

@Taylor Smith  The process was years of direct mail marketing. He mentioned his brother passed away and he was the Power of Attorney of the estate. He lived in Ohio, pretty well off and mentioned these 4 properties was more of a nuisance to him as he did not need the money.  I was confident he was not aware of the market conditions in Portland Oregon where the properties where located.

I made an offer for all four of those properties, I knew the rents around the area and knew if it could cash flow someone would jump on them as a wholesale. 

After about a month of going back and forward I made the decission to only pursuit the 2 best properties and promised him that I wanted to prove we can close on 2 before we move to the other 2. He agreed.

After I tied those properties, the market kept going up, low inventory for multi-family properties also helped. We closed on the first 2 and than we moved to the other 2.

Its okay to be honest, Although we like to over promise at times, It tought me a great lesson to take smaller steps.  

What I wish I would of done was actually, raise money and keep at least one or 2 of those properties, As they have gone up in value close to $100k each.

Hope I answered some of your questions!

I have been investing in San Diego,Vista and National City.  

Craigslist and Local meet ups is key. Ask lots of questions!

let me know if i can help.

Investment Info:

Small multi-family (2-4 units) wholesale investment in Milwaukie.

Purchase price: $345,000
Cash invested: $1
Sale price: $395,000

Acquired 2 -4 Plex , and 1 Duplex all via Direct Mai from one motivated seller. 10 doors -

Assigned first 4-plex property U.C @ $345,000 for assignment $395,000. $47,500 Profit.

Acquired 2nd 4 plex , U.C $410,000 Assigned contract $465,000. $55,000 Profit

Acquired Duplex , U.C $385,000 Assigned property at $410,000 $25,000 Profit.

Last but not least we bought his 4th property Single Family home in Sellwood,OR. We did a full rehab and succesfully sold. Profit of $40,000

How did you find this deal and how did you negotiate it?

Direct Mail- Yellow Letters

Welcome to the Group!

@ Brenton tinger Jr, I would suggest you call her and have a mindful conversation with her. Tell her something like this: 

I do understand you are asking for retail value for your property, As you know for me to make this deal work,  I have to purchase at enough discount for me to make this whole thing work. You are not going to like my offer but here it is"say your offer". If this is something you are willing to work with I can send over the documents for you to review. 

Walk her backward:

If you were to list it with a realtor at given price, you will be paying 4-6% realtor fees, Plus It may also take anywhere from 2-6 months for you to receive your funds ( 1-2K a month in holding cost) If there are any repairs, they would come out of your pocket. I understand our time is valuable, but if you are willing to work with me I can promise a hassle free transaction. 

What is your email address so I can send you my offer for you to review? 

Be confident in your delivery, At the end that may be the first No of many, you will receive. Or at best you follow up when she is tired of trying.

(If that just doesn't work, Just ask her if she knows of anyone that could benefit from your services) 

Build Value, Agitate their pains, Send the offer!

Good Luck

I will be attending, It will be nice to see some familiar faces. 

Thank you & see you on the 29th!

I will be attending as well as others. I will pass the word around. Happy to meet all of you.  

I am curious to hear about any stories out there or even if it's a good idea to use my personal home as an airb&b or vacation rental for weekends and holidays in Portland?

Well see you in a few hours, exited to meet some of you.

I'll be there, Thank you