All Forum Posts by: Doug Haisten

And what have you done with these (I find these all day while driving for dollars).

Well, time will tell. Thanks all.

We may use the term MLS too broadly. Almost daily I get listings from an agent based on a criteria, SFR, certain SF, highest/lowest price, # Bd/Ba. I may only get one, sometimes 2 or 3. I also get listings from Realtor and Zillow. Those as of yet aren't defined as well as with the agent but I can blow through those listings quickly. If a house meets a simple criteria I look deeper into the property and its all about the rents/expenses. If I look at 20 a week that's only about 3 hours of time. I spend more time D4$ a day for that time. That's 80 analysis' a month. Bound to find 3 or 4 to offer on. If I only pick up a deal or two every couple of months that's more than I had. I keep D4$ and SEO.

I truly appreciate everyone's input. Helps a lot.

I still can't find the webinar on BRRR. Has anyone else found it?

@Alex B F2F = Flip to Freedom?

@Kate J. Most asked the question is why would I find a deal (from the MLS) and not other investors? Because I looked/analyzed it and others didn't? I am picking up a property I found driving for dollars. The house is being lived in. From the outside the house doesn't look stressed and is in a nice neighborhood (last sale in the neighborhood was a few months ago for $90K+). I didn't find it on any delinquent list or purchased list but the grass was a little tall, the roof a little tired. I sent the owner a card and 2 months after the card the owner calls me and wants to sell. It turns out the interior/mechanical/electrical is a MESS and I'll get for $26K. Why didn't another investor find it?

@Shawn Swisher I agree with what you said about how @Brandon Turner in the webinars is buying for himself but if a deal is good for me, and I add a fee and the income and ROI is still what an investor might want (those numbers Brandon says he targets), why not wholesale it?

We have all seen flippers may not like how much fee the wholesaler is putting on the deal. Some wholesalers  move from an assignment to double close to hide the fee. I have seen/read responses to such by saying what does the investor/flipper (or even the home owner) care that I bought the property from (or where) as long as they get a deal for what they negotiated or look for?

In the end I am prospecting or might even say wildcatting. Hopefully I will find some deals. This area where this property I am told is a hot market (especially for rentals) but time will tell. I am not stopping D4$ or taking down my lead generating website. I will still do those. 

@Joe Splitrock In answer to #1, yes I will need to get proof of funds and may have to do a double close. In my area title companies don't want (read won't) do the typical assignments or double closing anyway (use B-C funds to pay for the A-B purchase). In any deal practically I have to provide POF and funds to pay for the deal anyway. #2, everyone asks that. The landlord could but that can be said for any deal, why doesn't the investor buy from the owner. In this case whether I find the deal by direct mail, driving for dollars, or a web site it is the one that puts in the effort that finds the deal. I am learning most people aren't looking at the MLS. Not all the properties of course are deals. I have sent out thousands of mailers too unknown unseen properties (bought a list) and only get a few responses and even fewer deals. I have 500-600 properties I found D4$ and sent mailers to and get 2-3 calls a month. The investor could do (and probably is doing) these things too.

I have under contract a very nice house in a good neighborhood, move in ready, with shed in the back. The house is carpeted and has a wood buring fireplace. The CHA is less than 5 years old, good roof. I am looking to assign or double close on or about Dec 21/2018.

Cash Flow $183 (after mortgage, Vacancy, Repair, CapEx, Mgt)

50% Rule: 45%

COC ROI 12.79%

CR: 9.4

Douglas Haisten

et al:

All very good points and I understand what you are saying. What is perplexing is why BP puts on webinars almost every week saying to go to Realtor.com (MLS) to look for deals, some to buy for myself and some to wholesale. True, an investor could buy a deal himself (from the MLS) but not if I find it first. @Brandon Turner, who usually gives the webinar, states 90% of what I look at won't be a deal. The deal is in the income and return yes?

@Nick C. @Mark Fries

Current property I am looking at from MLS:

Cash Flow (after all the bills and expenses paid like vaca, repairs(future), CAP Ex, Mgmt) $183 pm. Based on rental information from a property manager)

COC 12.79%

Purchase Price $56,000 (includes my fee). Comps about $65K. (from realtor and my own calcs)

Repairs $2000 (but actually move in ready)

Realtor fee paid by seller

@Chris LeMay D4$ is Driving For Dollars. That's driving around certain neighborhoods looking for boarded up or neglected/stressed houses, search out the owners of that house (there are a number of APPS that use GPS tech to help you with that), you contact the people and see if they want to sell. You can amass a could size list in just a couple of weeks for the cost of a couple tanks of gas and the cost of mailing and the app. Not only that you get to see the house first hand and know more what the house and the neighborhood looks like.

@Mark Fries I appreciate your remarks but don't understand how ,if the property can generate income and a good return, it matters if I find it on Zillow, Realtor, or a agent brings it to me. I know not every property is going to be such a deal but direct mail (whether by a list or even D4$) brings in a very small % of response. Can you explain? I am doing driving with 500 plus names and the SEO is going too but very slow.