All Forum Posts by: Clifford Paul

 Wow! 

I had a lender ask for the same documents 3 time's. I got a hold of the manager of the branch and said no more. if you can't close my loan tell my now because I have other options. She apologized and loan closed on time.

If you don't already have a contractor you have worked with on multiple properties. Get at least 3 bids. Use Google to find out what others are paying in that area. After you have done a few of these you will be pretty good at doing a quick estimate yourself. Use your contacts to get recommendation for contractors.

Nice! What terms did you get on your owners financing? You did a lot of work on amount invested.

It will be hard for anyone to give you a good estimate on line. It could be $50k or $1mil without knowing the property it's anyone's guess. What's your current rehab rate per sq ft for the area? You really need to inspect the property and get some estimates from your contractor to see if it's a deal.

I've done a bunch of these, it's easy. Go to title company give them all the information. They do all the paperwork, secure loan and schedule closing date. Done!

 In my neck of the woods 3% actually does keep up. But just in case that's why I start every new tenant above market rate. Example: house 4 doors down and across the street same square footage $1250 that's market rate. My house $1895.

We have a 3% increase on renewal in our lease but that really doesn't keep up with the tax man raising property values every year. To keep a head all my properties start out above market rate. 

 I've read a little on yellow cards and how the color attracts our attention. I have no doubt it works. Here's another one I got recently. I'll just give you the funny line.

Hurry as I only have money to buy one property at this time!!! 

I don't know about you but that doesn't instill much confidence in me that he can actually pay cash for my property. LOL

 Right on Michael, we are not the only ones on BP either. This question gets asked a lot on here and I always throw out what I've been doing for 30+ years. Currently have closed 43 loans with the same bank. 

 I don't send direct mail but I do get a lot on my properties. What not to send:

Yellow card black type: 

In bold type: Attention: I'm a local investor interested in buying your property. Please read below for more details about my offer. 

1. First lie, return address and phone number is not local

Dear Mr Paul

I was driving around the area a few days ago, and saw your property at 123 any street. It caught my eye, and noticed that it might be vacant. 

2. Second lie, my tenant has 6 cars house has been completely remolded, new paint, fence and yard. 

I'd like to offer you the chance to sell your property as fast as possible, and finally make some money off of it.

3. Not another lie but an assumption that I don't make money off this "vacant" property. I actually cash flow $703 after all the expenses. 

Contact information

PS. This is a chance to finally sell and make money out of your vacant property. Call me today.

These cards crack me up! Why would anybody contact someone so full of brown stuff. 😂