All Forum Posts by: Cassandra Ramirez

I would use a service instead of a VA at first. I use PatLive right now. They are pricey, but they are non-accented and have ready scripts for real estate investors. They send you an email when you get a call and you call them back. They are 24/7 and have Spanish speakers. I like it and it's perfect until I get my internal sales team up to speed.

Hope this helps.

Cas

I'm throwing my comment here because I am interested in this as well.

I use List Price/Sales Price as well as days on market to judge.  If the average days on market in an area is shrinking and people are paying (on average) closer and closer to asking price then I consider that an "up and coming" market.

Hope this helps.

Cas

It's better (and cheaper) if you bring contracts to the attorney to review and ask them what changes, if any, you need in order to make it applicable for whole sale deals in TN.  You should also give them the assignment of contract paperwork too to review.  They will probably give you an addendum to be used (different for each state) but ask so it's not missed.  Also ask them if there is any additional paperwork that is required (like lead disclosures for older neighborhoods).  I would sit with them and tell them exactly how you want to use the documents so you don't miss anything.  I can send you the contract I use if you'd like.  Just add me as a contact and message me and I'll share.  

Hope this helps.

Cas

I'm responding so I am notified when someone responds.  I am also looking for a good contractor in Baltimore.

In one word. Education. That's where I would start. There are some pod casts I would recommend. Bigger Pockets (of course), but also Epic Real Estate, Sean Terry and Real Estate Investment Mastery. Go to the first pod casts of each of these and go through them all until you are current. They have a wealth of knowledge. Also, I would read The E-Myth for the Real Estate Investor. Lots of business-building tips there. I would also make it a goal to attend AT LEAST one Real Estate Investing Club (REIA) meeting every month. There is nothing like seeing someone who has done it to keep you motivated.

Lastly, it's ok to want to be rich.  Don't be ashamed of it.  All money does is amplify the person you already are.  If you are a greedy, go-for-mine type of person, you will be more so with money.  However, if you are a kind and generous person you will be all the more when you have funds to be kinder and more generous with.  Don't be afraid to dream.  But in the meantime, work on being the best YOU you can be so that WHEN you become rich, you will be a good person who attracts good things.

Hope this helps.

Cas

I am interested in this as well.  Seeing that no one answered I would think they are all keeping their answers to themselves.  I am replying to share a little, but to see if this may bump this question to the top of the list. Also to see if you have gotten any non-BP responses to this question.

I was sending out monthly postcards to my absentee list, however, I think it was too much because the number of "do not call" requests I got was crazy.  I am not beginning to scale back to a quarterly mailing so we will see what happens.  Also, I have scaled my list down to only key neighborhoods that fit the demo I am looking for.  That way I can pound the heck out of a smaller section verses be a drop in the bucket in a larger area.

I hope this wasn't too vague.  Send me a note or email if you want to chat more and exchange KPIs.

Cas

The tip I would add is make sure you have the time.  When I first started, we sent marketing to all pre-foreclosures.  Then we quickly realized that some had auction dates so close (sometimes 48 hours away) that we really couldn't take part in any of those deals.  So now we only reach out to people who have received a Notice of Default (one of the first notifications of the foreclosure process) OR people who have at least 4 weeks until their date.

Hope this helps.

Cas

I am interested in this as well.  If I at least can find a map listing the neighborhood boundaries that would be helpful.

Baltimore is a tough area to get to know from afar.  On one block you have a thriving community.  But walk 4-5 blocks away and you see board up after board up.  I would say, a good area of the city to start is Pig Town (outside of Orioles stadium).  It is a nice little area with rehabs going.  Since the homes are older, you can get a good one inexpensively and you can either fix and flip it or you can add to your rental portfolio.

Since you're not here, I'd call a few property managers to get their input as well.  And, of course, you should go down there and see for yourself.  Spending a week "getting to know the town" can be the best time spent.  

As a last note, I would say look at Baltimore County as well as the City of Baltimore (not in Baltimore County).  I know seasoned rehabbers in Baltimore who only do deals in Baltimore County citing the hard time they have dealing with the City.

Hope this helps.

Cas