All Forum Posts by: Chris T.

Wow, that sounds great! I like your technique with the gifts and b-day cards.
Thanks for your input!

Do you get the expired properties from the MLS?

So once you find out that they have equity then you pursue the property. Your lists are made of properties that you couldn't make a deal on your initial contact.

Why do you consider
Expired's and FSBO's as high equity? Or, how do you determine which ones are high equity?
Also, what is your response rate?

Hey Jon,

What do you consider more motivated lists?

From what I can tell direct mail is expensive and I want my campaign to be
as cost effective as possible. It seems to me that homes with equity are the only homes that could turn into leads. If they don't have equity then there is no deal. I say that because in Texas you can't realistically do lease options. The only other options are sub2's and getting the deed both of which are likely to have negative or zero equity, in which case, would be homes to buy and hold for cash flow.

Jon,
I went to listsource first but there is something wrong. After putting in my parameters I only get like 6 leads. Sometimes less! But you may be able to answer my original question.

George,
i'm not sure about the price yet but i think i saw something that said .20 per lead. The options aren't at all the same.

I am looking for properties to wholesale and need to purchase properties at 70% of ARV. I am looking into MelissaData for a list but I must choose one of three methods of searching for equity. The options are: LTV, Dollar Amount, and Percentage. Which one would work out best?

When flushing the water heater; don't shut off any valves. Just hook up the hose and open the drainage valve. Then, turn on every faucet, shower, and washing machine in your house. Go from restroom to restroom flushing the toilets. Keep doing this for 5-20 minutes , until the water turns clear. This will flush the system. Watch the water coming out of the hose until it is clear also. Then, turn everything off. Replace the screens on your faucets and you should be good to go.

What I've done in the past is with private money.

I charge 11.25% on the note.
The buyer carries the insurance (1st yr paid in full up front). They also pay the tax. If they don't keep up with it then you take it back. Escrow comes in handy here.
There are no closing costs if you close on it yourself, (when you sell), and no need for title insurance because you should have gotten that when you bought it. If they want title insurance, to close at a title company, or to use an attorney then the buyer will pay for all of it.

I don't do repairs on the house at all. What you are selling is the financing, not paint and carpet which will be ruined and you may have to replace again if you have to foreclose. If they are willing to put 10% down and make the house look the way they want it then chances are they are going to have a lot of pride and won't easily let it go. Keep in mind, I only buy "livable" property. These houses are exactly how you'd imagine a low-income rental property to look like. I just clean them and put a sign in the yard.

1 out of 5 will be foreclosed on. Or, you can just have them deed it back to you.

If you do any rehab to it then mark it up 50% and add it to the sell price.

I bought close to 100 houses and only rehabbed one at the buyer's request.

Avg. 45 days on the market.

It's just one of many......if i can get them cheap!