All Forum Posts by: Account Closed

Good morning, 

After months of sitting on the sidelines and learning I am about to get started with Direct Mail to Absentee owners. Below is my criteria which has pulled about 300 addresses for a 5 mile radius around my zip code. Do you think this is to small of a list to get one deal? Its only a 5 mile radius and I will mail to the consistently over the next 6 moths (5-7 mailings). 

Criteria:

• Zip 01501 +5 miles
• Minimum of 40% equity
• Minimum of 30k equity
• SFR with Minimum of 3 Beds
• Exclude Trustee and Corporate 
• Absentee in and out of state

Should I pull the trigger and try to get my first deal? 

@Jerry Puckett Thank you for the explanation of why the results may be dropping, it definitely makes sense now.  Your detailed explanation has convinced me to keep "Last Market Sale" off my criteria. I certainly do not want to lose out on those potential leads in order to avoid a few more tire kickers. 

 I was thinking those sellers may be more motivated as they have had the house for longer. I am also trying to eliminate the people who potentially purchased a house recently with a large down payment 40% or more. 

I am using my zip code + 10 miles. So your saying purchase the entire list and then try and filter by last sale date? 

Good afternoon,

I am trying to build my first Absentee owner list through listsource. The following criteria is what I have gathered through the forums as being the most recommended. However, the last bullet point is giving me some trouble “Last Market Sale Date”.

• Equity: 40%-100%
• Minimum Equity 30k
• Property Type: SFR
• Bedrooms: 3 - 5
• Absentee Owner (In and Out of State)
• Mailing Address and Property Address Complete
• Exclude Corporate
• Exclude Trustee
• Last Market Sale Date: 01/01/1900 to 01/01/2008

Before I add the above "Last Market Sale Date" I have a list of 967. After I add that filter I have a list of 119.

But, if I run the same report but change the "Last Market Sale Date" to 01/02/2008 to 01/02/2015 I get 311.

If you add 311 + 119 it does not equal 967. So I guess my question is what is the best way to filter and find homes that have been owned for more than 7 years? "Last Market Sale Date" seems to be incorrect in its results. 

I understand that you give your EMD to your attorney, at this point in the process do you also give your attorney the signed "Agreement to Purchase"? Is there a cost associated with having your attorney take the EMD and file the "Agreement to Purchase"?

Also, what if your Cash buyer wants to use a different closing agent? Does everything get transferred?

@Shaun Reilly Thank you for your feedback and providing a link to the resources from  Justin's blog. The information is exactly what i was looking for. I have read many of your responses to others posts and they have been extremely helpful. 

Happy New Year!

Good afternoon, 

I have been doing a lot of research through the bigger pockets forum, mostly related to wholesaling. It seems that all the talk about wholesaling is based in other states. My confusion is surrounding the process of getting a property under contract and then assigning it to a cash buyer. 

In Massachusetts, is it as simple as using a P&S with the seller, then using an Assignment of Contract for with the Cash buyer?

Also, is my understanding correct that Massachusetts does not use Title companies for closing, they use Real Estate Attorneys?

Thank you for your support. 

Morris, congratulations on your hard work paying off! 

HI all,

I am trying to look at listings on pillow to get an idea of what's a good investment.

Can you look at this property and tell me your initial thoughts?

http://u.zillow.com/p3q7Fw