All Forum Posts by: Danny Johnson

Welcome, Cory! Sounds like you are preparing yourself very well for getting into this. Congrats.

I think Jon answered you question. It was a little confusing.

As far as offering highest and best, I would only do that if there is a reason why competition would be greater. i.e., the property was just listed or underwent a price change or just came back on the market.

Thanks for the response. That's a lot of postcards! There are a lot more absentee owners. I just filtered it to just get the certain neighborhoods I was targeting. Do you use an online printer to print and mail your postcards? Local printer?

Thanks.

:lol: That was hilarious, James! It really does keep the business interesting.

I also remember do a search on my website address within google and finding a post in a bass guitar forum from a guy that got a yellow letter from me. He started a HUGE thread about whether it was a scam or not. I should have registered and posted to help him convince him.....but it was just far too interesting and amusing and he was already convinced. He was assuming it was a scam because I had put the physical street address of my po box as the return address (instead of saying po box) and he had googled the return address and figured out it was a post office. A regular Sherlock Holmes. :cool:

He then began to suggest that he was going to contact the the BBB and an attorney. I just could not believe it. He seemed so concerned as to why I sent the letter to HIM, yet he would not pick up the phone and call the phone number on the letter. :roll:

Thankfully, there were some bass guitar playing investors on the forum that helped convince him he was taking it too far and there was no cause for concern.

Stephen,

Listed properties (mostly REO's) have been my focus the last several years. Some say it is hard to get good deals worth flipping on the MLS, but it really isn't. I'd like to still try and make it seem hard so as to have less competition, but it really isn't. The thing is, it is much easier once you have some experience already buying properties. You really need to be able to go and look at a property and be able to make an offer, without contingencies, as quickly as possible (preferably 10 minutes after looking at it). I DO NOT recommend this without experience first. You also have to be willing to look at a ton of properties and make a ton of offers.

Ryan,

There is a guy named Bob Norton that used to live and invest in Michigan. He seems to really know what he is doing. I think he has a blog. Google his name if you want to try and find it.

I hear what you are saying. I'm on track to do over 50 this year. I will do it.

"Don't go rollin' through the war zone, driving your fancy car, wearin' lots of jewelry!" - ron

Have a good one.

Great! Thanks for the ideas. I will check out that option.

I've heard the same exact story from two very experienced investors here in town. The story goes that they were at a Ron Legrand seminar (each investor at a different seminar, not together) and he had everyone that has done a deal stand up. THen he asked the ones that had not done at least three to sit down. Then it was 10. Then it was 50 in year. Then it was close to 100 in one year. Only that person remained standing at that point. Ron then told that person that he was STUPID! Of course, this was a complete shock to the crowd and the person left standing. Ron went on to explain that he shouldn't be doing so many deals, but should instead focus on quality deals only.

I still would love to be able to do more than 50 in one year.

Take care.

What kind of crazy responses have you had to your letters sent offering to buy someone's house?

I've had someone completely chew me out for sending "all of those f'ing" letters and threatened to kick my butt. He expressed his anger for several minutes. When he finally paused to breath, I asked for his address so that I could take him off the list and he got real quiet and hung up.

I'm sure it was that same guy several weeks later (after I had sent another round of letters). He was acting like the most polite gentleman this time. "If you wouldn't mind, please take me off of your mailing list. Thank you very much" :lol:

I'm sure other people have experience some crazy responses. Please share.

Darryl makes some good points. Please absorb them.