All Forum Posts by: BJ Henderson

Don't use your personal number. I started out with Google voice and still use it here and there. I mainly use Callrail. 

When it comes to marketing tracking is very important...sooo, I'd recommend picking an inbound call service that allows the ability to track your calls to see what is or isn't working for you.

Pick one marketing strategy and be consistent. <=(Most Important)

I can't tell you $300 isn't enough to get a deal done because it is, but I think it would be pretty tough to do it with a PPC campaign. 

If it were me, which it was a one point, I'd use some of that money for gas (driving for dollars) and earnest money.

OR

I'd spend it on bandit signs, sharpies, and stakes.

Best Wishes!

While I'm sure you could possibly get a deal here and there using that strategy there are probably more effective ways to get attention. I know many people highly dislike coming out to see something on their cars, of which they may just throw on the ground or not even look at in the first place.

You can:

1. Put flyers on bulletin boards or doors in places of business with the approval of owners

2. Bandit Signs if legal in your area

3. Driving for dollars

4. Networking

5. Direct Mail

6. Billboards

7. Bird Dogs

8. For Sale By Owner

9. Door Knocking

10. Magnetic Sign on your car

11. Social Media

12. PPC  Marketing - Google, Facebook, Twitter, etc.

13. Website (SEO)

These are just all the marketing tactics I can think of, but I use a small percentage of these and they are very effective for me in finding deals.

Hope this helps. Happy Hunting!

To my understanding if you get a FHA loan you have to reside in the property for a certain amount of time.

With that in mind I'd say scenario 2 would be the best for you if you weren't planning on moving back to Baltimore.

I'm not familiar with that program, but I do have a friend that mentioned something about the city giving away grant money to purchase dilapidated buildings to assist with revitalizing to community.

If you planned on moving back to Baltimore I can't see why buying a multi unit and living in one of the units would be a problem. That's the power of FHA loans.

Why not look to do some investing in Raleigh as well?

@Christopher Brainard Thanks. I was on the fence with this one, but it's much clear now. 

@Account Closed

I appreciate it. I've got one under my belt already, but this one is on a much larger scale. Just want to make sure I have my ducks in a row.

1) The property is not distressed, but the homeowner is. He lives in California. The property is in North Carolina. He's been living here and will be here until he can sell or work something out with the property.

2) I didn't care to think about finding that out. Never crossed my mind. Very pertinent information.

3) Payments are current. I may have used the wrong terminology by using the word distressed. Homeowner just can't sell because the home isn't in tip top shape. It's mainly outdated. Getting a contractor in there next week to assess repairs.

4) I have not done a title report yet, but will definitely do that when paperwork is officially signed.

5) Exit strategy is to find a tenant/buyer or possibly assign the contract.

6) The option is 5 years.

7) Lease and Option are separate agreements. Lease is for 1 yr at a time.

8) Yes, seller will be in the state until everything is finalized.

9) I have golfed (I suck lol), but I don't golf.

10) Didn't ask about golfing rights. Once again, did not know.

11) I will also have to find that out.

12) It's in the city.

I will have to check on #'s 2, 10, and 11. To my knowledge the 2300/month should take care of everything. If 2, 10, 11 have any bearing on added expenses it might put this one over the top.

Thanks.

I have just structured a lease option deal with a distressed seller on a property.

The seller has had trouble selling over the course of 6+ months due to the home needing renovations.

The property is currently livable and is located in a golf community.

The property is valued at 430k.

Sales price 355k

Option- 12k Down

Payment- 2300

5 year lease

Taxes 5k.

Rental rate in the area 2400-2700.

Would you do this deal? 

Thanks @Ellis San Jose.

I might talk to you next week about this Adam. 

I have one under contract in N. Raleigh I'm thinking about doing my first flip on and would need funding.

Have spoke to some other lenders, but just came across this post.

Very light rehab. Less than 15k.

Talk soon.

I've come across a deal, that I'd love to flip and sell or rent. This would be my first flip and this one is a light job.

Purchase- 68k

Repairs are less than 20k.

ARV-162k.

Rental Rate in the area- 1200-1300.

HOA Fees- 189/month

Seller is leaving after the sale. Looking to close as soon as possible.

I think it would be a 2 weeks or less job. 

Not really sure how to go about finding funding for this deal quickly and at a reasonable rate.

Any suggestions are greatly appreciated.

Thanks.