All Forum Posts by: Justin Eaton

@Frank Costa i have copy pasted a letter format that i used for an 8 unit mixed use building. It worked for me as the owner called me a week or so after i sent the letter. I met the owner at the property a couple times but we never could agree on terms, i have not bought the property, YET! I have bought an off market duplex from a similar letter of a slightly different format of this letter. I have had pretty good luck with direct mail. See below! 

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Dear owner,

I hope this letter finds you well. My name is Justin Eaton and I am a local real estate investor. My company is Eaton Homes, LLC. I have been in the business since 2013, so far I have done all flips and I am in the process of purchasing my first single family buy and hold property. I am also looking to purchase a multi family property and I saw the mixed use multiplex that you had listed for sale in Magnolia. I am a Magnolia resident and I drive by that building every day! I would love to revitalize the exterior and make it a prominent building in town!

I am writing you this letter to see if you would be interested in a seller-financing or master lease option on the property.

Also, if you have any other properties that you may be willing to sell, I would be interested.

Feel free to contact me any time via phone or email, both of which are listed below.

Direct cell:  ### 

Email: ####

Have a great day and thank you for your time.

Justin Eaton, Owner

Eaton Homes, LLC.

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@Alexander George What is your plan for the property? I'm assuming its a fixer upper, i'm not familiar with that area so i'm not sure why lenders wouldn't "work with those products".  Have you considered a hard money loan? They typically pay the bulk of the purchase price and all of the renovation cost. Then once its done, if you've created enough equity, you can refinance it if you plan to live there. Or sell it if you plan to flip it.  

@Shane Boyd I am also a home inspector in NJ and have been flipping for the past couple years. In my experience dealing with realtors on the home inspection side and realtors in the investment side - I’ve come to realize that a lot of realtors just don’t understand the real estate investing business nor have the know how or resources to successfully flip houses. In my opinion it’s a totally separate business and realtors wouldn’t have any reason to know about investing unless they decide that they want learn it themselves or learn it thru working with other investors.

Dave, the good thing is..if you have a flip background - it should be an easy transition into the BRRRR strategy. As this strategy can be used on 2-4 unit buildings and up and is not much different than flipping single family properties. If i'm in your shoes, i am continuing to flip the single family properties while looking diligently for good 2-4+ unit BRRRR candidates. They are a little more hard to come by, but not impossible to find. Good Luck!

Hey Lamont! Welcome to the BP world..i put together the South Jersey BP meet ups, the next one is scheduled for August 16th at 6:30. Click this LINK for the event page! 

Hello again everyone! For the next meet up, we will be doing something less formal compared to previous meet ups. The meet will be at the Flying Fish Brewery in Somerdale. I encourage everyone to come out and enjoy a cold beverage and bring any and all real estate related questions! I was thinking we could talk amongst ourselves for some time and then do a group Q&A where attendees can ask questions / get opinions from the group! 

Hope to see everyone there! Feel free to bring a friend or two to enjoy the night. 

Regards

Justin 

@Chris Anderson

Congrats! Definitely DM me! In the meantime if you want to look my company up on angies list, the name is Preferred Property Inspections & Engineering. 

Justin 

@Odie Ayaga Thanks! 

@Marian Smith My theory is that the these type of flippers do the bare minimum and spend the bare minimum in order to increase their margin...And then they will negotiate price and repair the things that come up in the home inspection and do the bare minimum to prevent the deal from falling through. They're in it to make the most money possible and ethics aren't considered. 

@Jonathan Herron Agreed, however, i have a feeling that most investors who are performing shoddy / shady work like this will be the same guys who do not disclose this information from previous inspections. It will catch up to them eventually.