All Forum Posts by: David Schwalb

Thank you Ann and John for your responses.  I truly appreciate your time and expertise.  

I've gotten additional information and unfortunately, this does not seem to be a situation in which I can help.  Although the home only seems to need cosmetic renovations and landscape work, it doesn't have the benefit of being in a mobile home park.  More importantly, there are two deal killers for me.  First, the owner of the mobile home does not own the land it is situated on, and second, the home was built in 1972. 

I've developed a nice rapport with the owner and I'm disappointed that I won't be able to help. If this was a SFR, it would be a classic success. I'm going to spend a little more time finding an investor with experience in mobile homes in case I find another lead.

Again, thank you very much for your help.

David

I've recently found a motivated seller of a mobile home in southern New Hampshire.  I've listened to the recent mobile home episode on the BP podcast, but because of difficult nature of comping this deal, I'd rather share any potential profits in exchange for help from a more experienced investor.  

I'd also love to hear any tips from people with experience in this market niche.  

Hi Lisa,

The best way is to network at a REIA. Network at the meetings and find out which rehabbers are actually rehabbing. In reality, you don't need a large list of buyers, but a small list of active buyers. Finding deals is 99% of the work, the buyers will come to you if you have deals.

-David

Welcome Julie, I'm also a new investor with only one rehab under my belt. My full time job also happens to be in pharma, and I live a town or two over in Sudbury. BP is a great place to find the answers to all the questions that pop up. Best of luck in your work. David

Welcome Jason! There's a large number of investors from MA around and I'm sure you'll get several of them saying hello. I would suggest diving in to one of the many great REIA's around.

Best of Luck!

-David

Hi Diann

There are lots of new investors in your area, myself included. I've also found its great to specifically speak with other newbies. It's a good group to ask "dumb" questions because there is almost always someone else wondering the same thing but reluctant to ask. Plus, since no one is an expert, it's good practice for thinking critically rather than just taking the answer as truth.

Best of luck

Originally posted by @Shaun Reilly:

Originally posted by @David Schwalb:

@Shaun Reilly
That was actually a bit of an heated discussion. He wouldn't tell me until he called the woman back for permission. I think he expected me to stop using the postal service all together.

Good for you not just getting scared and backing down for something so stupid.

Can you register for the "Do Not Call Registry" if you don't give them a phone number?

I may not have been scared, by I was definitely concerned. The voicemail the cop left was very strongly worded and warned me of significant consequences if I didn't call back.

He wasn't an idiot though. As soon as I explained that I'm mailing from a large list, he offered to get the homeowners permission.

@Shaun Reilly

That was actually a bit of an heated discussion. He wouldn't tell me until he called the woman back for permission. I think he expected me to stop using the postal service all together.

Originally posted by @Justin Silverio:

You'll get used to angry callers. It's all part of the fun...

Angry callers I can handle and easily accept. Calls from the police, however, are a different thing. I'm still moving forward, but I'd like to make adjustments.

Thanks for the offer Ryan, and despite being fairly certain that the letter is not the issue, I've posted it below. It's short, sweet, and concise. My guess is that I just sent it to the wrong person.

Hello,

My name is David Schwalb and I am interested in buying your property at [street address] in [town]. I'm not a realtor, but an investor and can act quickly with a cash offer. If you have any interest, please give me a call.

Sincerely,

[signed]

[phone #]