All Forum Posts by: Daniel Mendez

@Daniel Mendez  I don't think it would be hard to find an investor that would allow you tag along on a walk through of a house when their contractor is there estimating the rehab cost of a house.   I'd also talk to some contractors and see if they can help you.  

@Daniel Mendez I would start with a basic CRM that automates your procedures. I use a Podio. I have scaled it to meet my needs.

@Daniel Mendez Yes. I do this at least once a year.  Twice depending on the complexity and what I'm trying to do.  It's helpful that my firm has both legal and tax in house... but you can do this separately as well.

@Daniel Mendez  Daniel, I know you are trying to learn this business.  Don't short circuit the process.  If you want to know how much rehabs cost, meet with contractors, meet with other investors, walk houses with both of them.  Construction estimates are a sum of all of the items to be repaired or replaced, both major and minor.  2 houses side by side may be completely different.  With some experience, you will develop your own formula for rehab costs.  If you start applying a $/SF cost to projects today, you will miss something, and it will be expensive.  

Hi Rebecca the letter I use for Direct mail is below. It usually works but instead of doing the leg work to send these letters out; I rather just cold call a seller on spot, and get a answer the same day instead of waiting. Let me know if you have any questions.

Dear HomeOwner:

I’m a Real Estate Developer in the Central Jersey area and I buy houses for CASH! I’m willing to make you an ALL CASH OFFER on the property that you own located at "...." We can buy in ANY situation and As-Is condition!

We can close in as little as 30 days, or less and even pay ALL closing costs! Meaning, no money out of your pocket and the offer I make to you is going to be the check you walk out of the title company with on closing day. We charge NO Fees, and NO commissions for our service.

I would like the opportunity to speak with you about potentially being a solution. Please give me a call ##### at  so we can set up a time when I can come out, and look at the property. I look forward to hearing from you soon!

Sincerely,

Your Name

CEO Of Your Company

Feel Free To Contact Us:

Website:

Email:

Number:

you don't need a realtor for off market..  find a basic contract on line.. agree to terms then take it to the title company or closing attorney and they will do the rest..  

Hey Matt,

Classic answer, it depends. A lot of times the contractor can get better pricing on things since they buy in bulk and have relationships with their vendors in place. Sometimes, I'll know someone who can get me a good deal on materials and I'll provide the materials for the contractor. It never hurts to ask the contractor how much the job is with you providing material vs them providing it themselves. 

@Daniel Mendez Great!  Also talk to your CPA and make sure they are coordinated.  Going to a lawyer can be like seeing a surgeon ... a surgeon performs surgery.  Just take it all in and create a holistic plan.  

@Daniel Mendez

I don’t do any inspections, and neither do most cash buyers in my area. Market is hot, cash offers and no inspections wins houses.