All Forum Posts by: Gustavo Munoz Castro

Let me chime in. I do this every day. There are several ways to approach this:

1) Neighborhood target. You don't have specific sellers identified, but you know a certain neighborhood is hot. Get a neighborhood list and call around. Script is a simple as "I have buyers/cash/whatever and am looking for folks that want to move in the next 6 months". Brute force, dial 100 numbers, talk to 15-20 people and get one solid lead.

2) Expired/FSBO. You can buy these lists all over the place. You will get specific data on sellers that tried to sell their home but couldn't/haven't. Scripts get more complex here but youtube is your friend. Highest conversion rate you can get with these folks.

3) Pre-foreclosure/tax isues, etc. These are similar to the above but you have no clue if they're motivated to sell, want to try to alleviate their distressed situation, etc. Be careful contacting them since several States have adopted regulations around what you can say if you're not a realtor or other licensed professional.

Those are the main ones we focus on. If you're already doing this please share your experiences.

@Stephanie S. Well, I have some good news and bad news. Good news is that Seattle has a very strong economic outlook due to the soft tech and bio tech booms, so betting on it looks smart. Bad news is that its next to impossible to get passive income on properties in the areas of Seattle you're looking at without substantial down payments. You're only option right now is to see how much house you can comfortably afford and see if the market offers what you want and a decent price. As an investor you'll be betting on appreciation, that the value of the property you buy will go up, even if potential cash flow now and in the near future will look bleak. This is what folks have to do in hot markets like Seattle, Portland, Denver and San Diego. They're great places to live but you have to pay a premium to live there. Best of luck to you!

Welcome Stephanie, don't miss the awesome podcast available through BP. First off, to give you a better opinion  we need to know your goals. Do you want passive income? Save for retirement? Do you plan to stay in Seattle long term? 

Seattle is a very hot market right now, a 1BR condo in QA costs almost the same as a duplex in Tacoma or Arlington. Both can be the "right choice", just depends on your goals. Cheers!

@Jonathan Brown Curious how did this project work for you? I'm gonna get involved in something similar, would appreciate any tips. 

@Marcus Martinez we use Cole Directory as well as Hanes directory (for some states) to get phone numbers. These are good for general neighborhood data. For more specialized lists (Expired listings, etc) there are other vendors like RedX and Mojo. Have you incorporated this into your business? What have been your results?

@Hongda Zhao The best deals I've seen are in South Seattle, multifamily and are maybe going to be 7-8 cap, will require some maintenance as well. I'm also looking in the Tacoma area where prices are lower but cap rates are going to be about the same. As the market gets hotter its gonna get harder and harder to find good deals.

@Chauvin Rupley if you're still looking for a guy, I have a great one for basic maintenance in south King county. PM me and I'll send you his info.

@Michael DiGiovanni a good way to meet other investors is at the Friday auctions. I've been to the one in Factoria and there were several investors there (retail folks, pros, etc). Try meeting people there. You also need to come to the table with something of value in return, something like helping them evaluate deals, being their bird dog, etc. 

As for the elevator pitch, I'd honestly shorten it down to "Hi, I'm Michael and I'm looking to get started in Real Estate Investing. I've been super impressed with what you've done at _______________, and would love to take you to lunch and pick you brain. When do you have time next week?". I used this to get another successful investor to do a phone call with me next week, no lunch needed. Just get out there and ask. Also try looking for Seattle Real Estate investing blogs, there are a few out there with successful investors but almost no audience. Check those out too. CHeers!

Hi folks, I have a company that uses telephone prospecting to find buyers and sellers. We only work with real estate agents but it occurred to me that maybe folks in the BP-universe may find this interesting.  I'm looking for a partner to do a project and find out if we could make this work for investors.

Also, anyone already be using this to find sellers in their markets. Anyone out there using this? Results? Tips?

I'd also love to answer any questions people have.

Hi folks, I have a company that uses telephone prospecting to find buyers and sellers. We only work with real estate agents but it occurred to me that maybe folks in the BP-universe may already be using this to find sellers in their markets. Anyone out there using this? Results? Tips?

I'm looking for a partner to do a project and find out if we could make this work for investors.