All Forum Posts by: Carlos Diaz

Sorry if I did not clarify enough. I am targeting owners whose LTV ranges from 60% to 0%. I figure at 40% I will be able to make a low enough cash offer where the remainder of the owners mortgage is covered and they could still walk away with some money. Should I lower this amount to 30% equity or LTV between 70% - 0%?

I hope everyone is having a productive day!

I will be starting my first direct mail campaign in a week or two.

I am targeting absentee owners in Dade County. I am using a reputable list source, listability.com.

Here are my criteria:

• Owner age: 30+ years of age
• Equity: minimum 40% equity in home
• Market Values up to $350,000
• SFR properties and 2-4 unit properties

These criteria yield about 6,000 records.

I plan to send 500 direct mailer postcards every week for 12 weeks until I exhaust all of those records. My goal is to send each of the 6,000 records three or four different pieces of marketing material over the next eight to ten months.

How does this sound? Is there something I am missing?

@ Frank Chirkinian,

1. Looking back, I did not market to buyers aggressively enough. I didn't even post the property on craigslist! I mainly just reached out to friends and family I knew, including some RE agents who deal with RE investors.

2. I did have the right to assign the property. I have had my contracts looked at by local RE attorneys who have approved them for my business plan.

3. I understand that things typically do not fall into one's lap. I am a hard worker and do not expect anything to be given to me; but, those two deals really truly fell into my lap. One of the homes was one of my parents neighbors and the other was a home I drive by and delivered a letter to their mailbox personally. I will be starting my first mailing campaign next week and I also have two websites, but I am working o building a bigger internet presence for my business.

Anyways, it was very tough to lose those deals. To have those situations presented on a silver platter and botch the deals is a pretty big let down. I wont let it get to me. There are other deals out there.

14241 NW 23 Court, Miami, FL

This is a Single-Family Home located at 14241 NW 23 Court, Miami FL. It has three beds and one and a half baths, and approximately 1,500 square feet. The property is in average condition and needs some new painting and minor cosmetic work estimated equal to or less than $5,000. The property was built in 1950. 

The average sale price for similar homes within the last three months is about $111,000, and I am selling the property for $85,000.

This property should move quickly so please respond quickly if you are interested.

Thanks, 

Thanks for the support guys!

When I look back at it I am not sure what went wrong. I had never really wholesaled a property and my network is pretty weak. Although those two deals fell into my lap I am sure I will be able to find some more.

Thanks!

Hello!

I am so happy I found this website! I have been involved with real estate for the last two years, but I decided to start a real estate investing business over the last five months or so. I have set some solid goals and expectations for myself and everything has been going as planned. Two weeks ago I had, what I thought were, two excellent deals under contract. They were two homes that each needed light rehab in a great neighborhood, and the sellers were both very motivated. One of the sellers was moving to Minnesota and could not afford to keep the house, and the other homeowner had a medical emergency and needed to sell. I secured both deals under contract and everything was going well but I could not find any buyers! I think the price point was fine each contract price was about 30% of ARV. Worst part is I think the deals were vultured from me and someone else acquired them and is getting all the benefits!

Does anyone know have any recommendations or suggestions on how I can build a buyers list? Where should I go? Who should I talk to? 

Also, does anyone know any closing agents/ RE attorneys in South Florida that handle double closings, or simultaneous closings?

Finally, I am new to this bigger pockets website and I am not sure how this all works. I am looking to build my network.

Thanks,