All Forum Posts by: Arin Hanohano

@Wayne Brooks Excuse my lack of knowledge when it comes to shortsales..But how is it irrelevant? If a short sale were to take place for let's say at or below that $241,000 i'm looking for, IOT satisfy the 70% rule minus any repair costs and create a good enough spread for me to sell to a back-end-buyer, wouldn't that be the a desirable resolution? What am I missing here? 

So here's the deal.... I was contacted by a gentlemen who's company purchased the Redemption Rights of a 3 bed/2.5 bath SFH from the original borrower this week. He's looking to find a buyer for the house with the fees they charge for attaining the Redemption rights included in purchase price. Purchase price to redeem + fees is $287,000 and he says ARV is $345,000. He just sent me the information this morning and I emailed in reply saying that the sale price isn't quite what we need to make it worth our while. If in fact ARV is $345,000, our MPO would be $241,500 less any repair costs. I assume these guys could care less what the bank actually sells at, as long as they get their little commission for purchasing the rights. What I want to know is, is the only way to get the price point down to negotiate a short-sale with the bank and the original borrower? Or maybe if I can find a buyer looking for a buy-&-hold then just settle with the bank at their price and hope I can make a spread? Thanks guys.

@Jon Huber man that site is amazing. Thank's for the heads up. Just another reason that BP is an invaluable resource.... 

I'd also say that targeting your bandit signs will increase your response rates. By that I mean put some bullets on there like -Facing Foreclosure? -Behind on mortgage? -Unwanted Inheritance?      I did this after my first Bandit campaign and It increased my responses substantially. Before I just had WE BUY HOUSES W/ CASH and I got a lot of unmotivated sellers as well.

Hey @Scott Dixon 

Yeah that's definitely what I need. I didn't know the official name of what it was that I needed haha. But thanks for the suggestion. I'll go ahead and check out Podio. Do you use any sort of program that can send out mass texts or emails for you at one time?

Also any auto craigslist poster that you use and have some feedback about? I post a lot of craigslist ads that attract a lot of Cash Buyers and key RE personnel but there are 100 other things I could be doing with my time than posting CL ads multiple times a day every day....

Thanks Man

So I am looking for software that I can use to input all of my Buyers contact information in an organized fashion aside from the Excel spreadsheet I have now. I have a squeeze page that takes the information (name, phone, and email) then just notifies me of the information but doesn't organize it or allow me to add other useful information about that buyer that I can recall later so I transfer all of my contacts to a spreadsheet. I know theres something that exists out there but I have not found anything so I thought I'd ask for your help... Thanks!!!

Yeah I had to write it out.  Makes sense after working it out myself. Thanks for the tip

@David Oldenburg so how exactly did you come up with the $280k max purchase price? I understand all of the numbers after the A->B purchase price, but I don't know how you got the $30k spread between 250 & 280. Ignore my ignorance haha. Thanks David

Craigslist primarily, I posted both under Real Estate Services and Under FSBO. One thing that worked very well was posting Rogue ads under FSBO for good sealed properties that would attract investors... I'd redirect them to my squeeze page(you can just use your phone if you don't have one and talk directly to them or voicemail) and have it say that the properties posted on Craigslist ad were just recently sold but input your info and I'll add you to my cash buyers list... You can do the same exact thing with Bandit signs displaying you have a property and then same rules apply. Also networking down at the county auction and my real estate agent putting me into contact with buyers. Just have to be persistent and think outside the box a little

I'm a very new investor and focusing on wholesaling for the time being. I've spent the last 6 months studying as much as I could about investing and my local market, as well as attempting to put together a pretty solid power team before I dived deep into it. I also spent the last few months creating a decent sized Cash Buyers list to have it ready when the time comes. 

I'm now starting to aggressively market for Motivated sellers. About 2 weeks ago I started my first Bandit Sign campaign in the Bend, Oregon area. I essentially spread about 50 signs throughout the town(Bend's not terribly huge) but my signs were real straight to the point (We Buy Houses w/ Ca$H, Any house/any condition, phone #). I got quite a few phone calls, a couple motivated sellers but not what I had anticipated. What I realized that my signs weren't really targeted towards Distressed/Motivated Sellers. By that I mean I didn't have any bullet points in there saying "facing foreclosure? Costly major repairs?" etc. So I revamped my new set of signs.... This time though I'm going to be targeting specific areas for sellers, primarily in low-income, high default rated neighborhoods with my signs. What I did was took the Pre-Foreclosure/foreclosure/REO/short-sale/& property tax lists, plotted all of the property addresses on a Google MyMaps map, and the areas with higher than normal concentrations of "dots" I plan to blanket with signs.. Just something that I thought would help boost my contact numbers....

Has anyone done this or have any other techniques for a bandit sign campaign that has actually worked for you??? Thanks!