All Forum Posts by: Erik A.

Very helpful information Ray, thank you. I've postponed the appointment and will be speaking with the Building Department as soon as possible. Will keep you updated on what happens. In the meantime, I'll knock out a few hundred sales calls between now and then 

After a few hundred or so phone calls I finally landed another deal I'm brewing.

However, it turns out to be a lot. Here's the layout so far... The property is very large and previously

included an extra acre, along with the seller's house -which both now belong to his ex-wife. 

He's selling the remaining acres to me at a great price. The biggest issue I think will be

locating a buyer.

After doing some due diligence, I've noticed no new residential construction in the area, and the only buyers 

seem to be business owners of companies conducting business within the vicinity. My game plan

is to mass email the investors on my large list, along with skip tracing all commercial businesses

within the area and pitching them the lot -since large lots around the subject lot's size have 

been being purchased by business owners within this area.

I'm meeting with the seller this Friday to review and sign the contract, as well as

picking up the blueprints and survey (which was conducted about 6 months ago). 

Any advice would be much appreciated, especially with whom to market the lot to and

what information I may need before doing so. 

Thank you all,

Erik

1,400 leads is a lot -I hope there was a big slice left for you to market to after scrubbing it.

@Heather Johnson & @Lydia R. How long did it take you to receive your list? I literally just checked

the last email I sent to the city requesting it (they said yes) and it's been 11 days.

I do not mind the wait. But hell, I'm wondering if I should ask them for next month's list in the

next few weeks if it takes this long hah!

I recently whipped out the credit card and bought a list of 750 Tax Delinquent properties in my county 

and a few surrounding ones -followed by Skip Tracing them. Many of the numbers I've contacted at this 

point are either the "wrong number", not interested in selling, or the occupant straight up curses me out.

Now, I think one key trait separating the winners from the losers in this business is sheer Iron Will. So,

I do not mind going through the wringer. However, is cold calling Tax Delinquent leads an efficient

use of one's time, or would you just send them direct mail? 

Also, my intro when starting each call is something along the lines of this: 

"Hi John, my name's Erik. I'm a local real estate investor interested in purchasing the property at

 789 Live Oak Dr. I'd like to have a quick conversation about it if you have a few minutes."

I never mention they're tax delinquent.

And while we're on the subject, which leads list would you recommend calling? (Probate, 

Pre-Foreclosure, etc.)

Thank you all

E.

It's been an intense 2 months since my business partner and I started our wholesale business. 

We dove straight into building a large list of buyers within our area, following by sending out

1,000 mailers to Tax Delinquent addresses. After a few bad leads, we've finally landed one. 

The COMPs show us the property is worth about 168K and we scheduled

a meeting for tomorrow morning. The Seller wants 150K, but our Comparative Market Analysis

shows us we need to present him with an offer of at least $121,500. I personally know buyers 

that'll buy this ASAP. The question is...how do we present this to him in a way where we don't

come across as though we're extremely low-balling him? Afterall -any educated investor wouldn't

buy it at a higher price. Property is 12 years old and there seem to be no pricey renovations

needed. The seller is in foreclosure so he needs to sell in just *5 days*.

Any input would be much appreciated.