All Forum Posts by: David Wolf

1st, I didn't read my post and I imagine it sounds a bit confusion. Basically we are under contract with great margin. The home actually sold late last year for almost double the price. That makes me feel like internal house issues would be the main concern. I don't see a ton of external issues cropping up in 6 months. Am I crazy here?

Wow what a rush. I am two weeks into prospecting for deals and got a home run with some caveats. Some how my advertising caused me to get a great deal in Fort Myers, FL instead of Orlando. I didn't put it under contract at 50% of my brokers comps. I am about 3.5 hours from the property. my impression right now is that it needs to renovation (I am anticipating landlord style cleanup for a new tenant).  Sellers Mom Passed and he wanted out with some influence on the fiance to sell the house fast for cash. Here is where we are at and need more experienced BP guidance:

House is under assignable contract but we plan to at least take ownership if we don't do a double close, I am afraid to lose this deal by not being on the deed. Scheduled inspection for tuesday, for those that are seasoned in buying or wholesaling out of area properties, what steps do you take to make sure the deal is as good as it looks. Sell is on my records sheet as warranty deed owner with no mortgage if that helps at all 

Of course we will to title and all the other basics, I am referring assessing the properties sellability. Should we get a broker in Fort myers to go take a look, or should I get my *** in the car and go check this thing out. I have to admit I am intrigued by doing this entire flip without seeing the property because that would allow me to fully utilizing my marketing abilities to go well beyond my current city if I can outsource every step of this process. 

2 weeks in and we have an assignable contract with 40K in estimated equity. I love bigger pockets!!!! I just need to make sure I get through this deal and don't lose the fish. I know a lot can go wrong still being inexperienced. The odd thing is that I wasn't  planning on wholesaling, but this is more hoteling along the lines of Michael Quarles style. 

If this goes through, BP changed my today. I was doing pretty well to begin with, but if I can use my marketing experience to pull even one deal like this a week my life is changed. I guess now I need to start networking with wholesalers in other markets to capitalize on all the deals and leads I plan on generating. 

Hey BP,  need references for a good home inspector in Fort Myers, FL. We just put a home under contract there and need someone asap. Thank you BP

I like your sign strategy. Nice

Thanks Justin for the feedback justin. I am going hit a second list later this week focused on another form of list. My 1st try was absentee owners with tax delinquency which I think is a great list, but small. I am going to build another list to go after at the same time starting with a post card to catch the return to senders so I can scrub before sending out more expensive materials.  I am trying to decide between absentee owners with equity or tax deliquent owners that live in their homes. I am leaning towards non tax absentee

thanks for 1st responding. Have you done deals with po box mailings? At 1st glance it feels like it's easier to dump everything in trash at a pobox. I did a zip letter mailer so I removed. Went ahead with a little imperfect action. 1st mailer is order and ready to go. I'm committing to mail this list for at least 6 months so we will see where this post goes from here 

I am having real trouble growing my prospect list to a large enough size to meaningful (1000+) For Tax Distressed Absentee's. I targeted my two target  counties and can only come up with like 650 or so targets. Am I targeting to selectively? 

Equity...check

Absentee...check

Non trust, llc...check

Distress Signal (tax)...check

I know that I could just go after absentee without tax delinquency, but I do want to do a bit of testing the waters. Is 650 highly qualified targets enough to run with before 1st deal confirmation? 

Dagnabbit, I forgot to ask about whether you mail PO Box address or scrub them?  (not counting places like some in Breckendridge, CO and other places where lots of residentials use them. 

I guess I should ask a second question right here. When an owner owns more than one property on your list do you mail them both to the same mailing address or deduplicate your list. How about if absentees are out of the country? I scrubbed all in my 1st attempt (llc's, dubs, international, and combined it removed about 15% of my list so it wasn't an inconsequential number. I pulled my list from AgentPro, I know list source has the option of creating a list excluding trustees or llc's but I wanted to use tax delinquency as a red flag and list where I spent a bit more cost on the mailers as opposed to just absentee's in general.

https://www.biggerpockets.com/forums/87/topics/224...

This was a similar with several answers if anyone finds it helpful