All Forum Posts by: David D'Errico

screen shot from Zillow. Here are a few options.... Like you said sell the land or develop it. Don't know if this area is the exact location they own property, but let's just use it as an example. Raw land is $10-13k  for 1-1.5 acres. A 3/2 with 2000 sqft is $224k(one example) Well the cost of new construction is $100-125 per sqft. So a 2000sqft property cost $200-250k to build. So you have to build for less or sell for more. However there is also a 5/3 2278 sqft. 

Sale price $324k / Cost to build $228-285k so lots of appreciation on that one.

Its all based on location. These were just the first few property that came up under tink wig. Obviously a lot more research needs to be done. I think just selling the raw land and using that as start up cash to invest locally may be simplest. But if you qualify for a construction loan and can develop the land it may be very rewarding too

Also those properties are for sale, not sold and have been on the market for a while. When running comps use sold results. Doesn't look like much has sold recently 

try driving for dollars too. Drive an area you want to invest in and write down the address and find the owner on county record websites. Then you can mail to them. It's "free" to drive around.....

I mistook this to mean that you had already refi'ed this property? Are you still working on the Fannie Mae one?  

So how is this property doing now? Did you meet your goals? How long did it take to do the rehab? How much did you spend? What does it rent for? Who did use to do the refi and how was that process? Were you able to pull cash out or just cover the cost of what you had into it? 

http://www.boomeranggmail.com/l/how-to-send-recurr...

Here is a way to send recurring emails maybe that will help 

@Dave Foster is right no correlation in 1031 to IRA. 1031 is a tax exchange. However @Mark Nolan is also correct you can invest with a SOLO 401k so talk to your financial planner and ask them about transitioning what you have into something you can use to invest. Best of luck 

If you have narrowed it down to 400 why don't you just send to the whole 400 instead of 300. How often are you going to send? Why are you only sending out 5 mailings? And as far as sending to the same owner with multiple propeties just send one letter and when they call you can discuss the others. Don't waste the time or money on sending mutilple letters to the same owner

Welcome to BP! It's a great place to learn. You the forums and start searching for info 

check out the book of flipping houses http://get.biggerpockets.com/flippingbook/?utm_sou...

ARV search results

https://www.biggerpockets.com/search?utf8=%E2%9C%9...

to add on to above comment.... They can't sell on the open market. 

You are correct in the assumption that it may need a rehab and is priced way under market value. That is where "leads" are found. 

Other reasons they may be motivated are that they own the property but don't live there and just want to get rid of it for various reasons (called an absentee owner) or they inherited the property and just want to sell quick but they don't want to fix anything up first