All Forum Posts by: Darren Elliott

There are so many mail pieces that say exactly this or something extremely similar that you likely won't get much traction, also make sure you have the means to buy the properties you plan on marketing to.

Thanks Aaron. I imagine Riverside/SoCal is a flooded market, and so I'll need to rethink how to make this stand out a bit more.

0 Votes

Originally posted by @Bjorn Ahlblad:

@Darren Elliott I get some that are very personalized and look to be low volume, hand addressed and hand signed. I do look at those. I would say there has never been a better time to sell. Tell them it is a clean all cash transaction. Make it a little longer maybe compliment the property or neighborhood? All the best! Let us know.

Thanks Bjorn. This is great. I'll incorporate into version 2.

0 Votes

I'm starting a DM campaign in the Inland Empire (Riverside, Redlands, Corona, etc) targeting 3-4 unit owners, ideally a fixer upper or bad management.

What are your thoughts on my planned Yellow Letter copy? How could I improve? Don't hold back.

Hi NAME,

I'm interested in buying your 3-4 unit property at ADDRESS. Have you ever thought about selling it? I could give you some peace of mind by taking over your tenants and overdue maintenance costs.

Give me a call or send me a text at NUMBER.

Thanks!

Darren Elliott

0 Votes

@Stephanie P. Thank you!

0 Votes

I bought a condo in 2018 as a Primary Residence, then a few months later I got a new job a few hours away, and so I rented out the condo and lived at my parent's house. Now I'm looking to buy a multi-family property next and live in one of the units--do I need to refinance that condo into an Investment Property so that I can buy the new multi-family as a Primary Residence?

What are the implications of doing so? Is this a practical strategy, or is there a better way to structure this?

0 Votes

Originally posted by @Dan H.:

This is about 6 to 8 months old. I suspect things may have changed seeing how much else has changed.

Pen Fed (80% LTV, prime + 1%, <4 properties); bank of the west; CMG Financial (70% LTV); HSBC (70% LTV); Wells Fargo 60% LTV; US Bank 80%; TD Bank; regions Bank; Huntington 80% LTV, 7%; NFCU 80%, 6.5%; Silvergate Bank; Torrey Pines Bank; Bank of Southern California

Good luck

Thank you Dan! I'm in a similar position as OP and this is useful! Saved this info for later.

0 Votes

@Nabil Suleiman I too would like to join you guys.

0 Votes

My partner and I are looking for an agent with who is registered with HUD. Let me know if you are or know a HUD agent. Thanks!

0 Votes

Riverside, California

@Jim Goebel Thank you for the insight. If I'm understanding you correctly, a lesson to take away from this would be to be more proactive about getting a HELOC when buying a property as a primary residence so that once life happens and I've moved on to a different residence, I can continue to pull money from the HELOC while keeping it rented

3 Votes

All Forum Posts by: Darren Elliott

Darren Elliott has started 4 posts and replied 14 times.

Post: Under 1k sqft STR in running springs

Post: Yellow Letters to MFH Owners

Post: Yellow Letters to MFH Owners

Post: Yellow Letters to MFH Owners

Post: Is a Mortgage Re-Classification Recommended before Next Purchase?

Post: Is a Mortgage Re-Classification Recommended before Next Purchase?

Post: Lenders that offer lines of credit against rental property in CA?

Post: Starting a meet up with motivated investors

Post: Local HUD Registered Agent

Post: Legal Way to HELOC While Renting Out?