All Forum Posts by: Eric F.

To update this, my original sale for 7k fell through, and I was really bummed out about it, but I resold the home to a young couple with a baby who were super excited for the opportunity to own their own house. Everything finalized two weeks ago and in the last week I got a check from both mobile homes (rent check from 1 and an installment payment on the one I sold). After all the reading, hard work, wasted time, and even a tiny amount of negative thoughts things have worked out.

I never lost faith but it is a lot more fun to see the money actually come. Reality is always more fun than theories!

Dev, where did you get these? I had this idea too and went and bought some sticky notes, hand wrote roughly 20, then gave up. I spent some time on google and could not find a company which could print these up on a pad so I could walk door by door peeling and sticking. I was going to do door hangers instead, but in my mind I feel like the sticky note would get noticed way quicker. Personally, I know I toss a door hanger right in the garbage, but if there is a sticky note at eye level I sort of have to read it lol

Thanks for the ideas everyone, great thread Danny

I would recommend seeing if your city has a chicken coop tour. I went on one last year and it was awesome. It is interesting to see how people incorporate the chicken coop into their garden, and usually people who have chicken coops have fantastic gardens otherwise as well. I hope to build a chicken coop as a springtime project.

Non real estate wise I am reading "Lies my Teacher told me." The basic point of the book effectively all of the history we are taught in store is two steps short of an outright lie. It is very eye opening. I will never trust any basic accepted historical narrative again. Highly recommended to anyone who likes to learn interesting facts.

Business wise, I just finished my annual reread of the first half of the Four Hour Workweek. Overall I am a "skeptical" Tim Ferris follower, I read most of his stuff but I do not trust half his claims. Still, the first half of this book is really good and everyone should read it.

I am debating what to read next, like most I have a huge pile of books recommended here and elsewhere.

@Christopher Zink I used Harrell Painting on a foreclosure I just bought. The place was trashed and the paint looks great now. If you want I can get you before and after pictures. I spoke with Jake there, whose number is (919)868-8469. For full disclosure, I have known Jake since high school.

How can you hand write and then scan and print a post it note? I would think it would stick going through a printer.

Hi all,

I have some mobile home deals but I am now trying to get into single family homes. My plan is to walk around all the neighborhoods where I live to get a feel for them, see which I like/don't like, look for houses which need work, etc. I started thinking if I was going to do this I should make some hangers/sticky notes (like UPS leaves). I could not find many posts about these on Biggerpockets. I saw a few and no one had anything negative to say, but I did not see a big thread.

Does anyone recommend a certain type? Hangers or sticky? Where can I get them? Does anyone have any examples?

And has anyone used these and if so, what were your results?

What should it say?

I was thinking something simple like

Hi,

I am interested in buying your home

as is for $CASH$

Please call

XXX XXX

Thanks

Eric F

XXX-XXXX

should I put my buyer website (which I am building) or just the number?

Thanks everyone,

Eric

I am 100% serious when I say this post is probably the best post I have ever read on biggerpockets. Expresses everything you need to know about the topic in under 30 words. I just spent 15 minutes searching for it (I originally read it last month) because I have used it with my real life friends probably 10 times in the last month.

@Troy Fisher

I think it would be really hard to craft a non compete clause for something as simple as a wholesaler working for you. They exist to protect trade secrets, I highly doubt you could get away with preventing them from buying and selling houses in a specific region. I will state I am not a lawyer, but I can't see how crafting a non compete clause for this would work.

The idea of training your own wholesaler does sound great though. I don't know anyone with a setup like this in Raleigh.

Do you think you could rent the home instead? That might be a better idea. That way if you want to do something with the land like build a single family home you could just end the lease and ditch the mobile home.

What is the land worth anyway?

I wouldn't do either of those for those figures unless I could sell them for more either cash or holding the note the day the renter left. I just bought a 3 bed/2bath for 8k which I could sell holding the note for much more tomorrow. It is currently rented with a difference of $425 between lot rent and the note. It is a nice home.

If you bring cash and lay it in front of them you could probably get the prices down a lot. The one I got for 8k cash (9k agreed price but tenant deposit I assumed liability and he gave me a 200 credit to power wash it). He started off insisting it was 12k or bust and I told him I had cash and we could do this thing in 24 hours, but 8k is all I will bring.

From what I have learned and experienced first hand, cash is king in this business. The mobile home end buyer cannot come up with hard cash. You can get massive discounts by bringing those Benjamins to the table. Post some ads trying to sell your home and you will quickly understand buyers flush with cash are almost non existant.