All Forum Posts by: Michael Culler

So I have learned that I need to develop a relationship with the top REO listing agents in my target market. And that the only reason anyone would use a buyers agent to make offers on REO property is because they don't have the time to spam that many "lowball" offers themselves.

Unemployment here is 13.5%. the county is trying to outlaw panhandling now.

there are lots of neat things that can be done to Create the illusion of recovery. Ever heard of quantitative easing? Google it

I really appreciate this topic. It made me think.

I just had a call from an out of town prospective buyer. He said he had a friend in town that would go and check the place out. He confirmed the price from my ad, and asked for the lock box code.

I should have taken that opportunity to build rapport. I should have told him what its going to take to get rent ready, and that I can connect him with the people to get it done on the cheap.

Thanks again. I am definitely calling that guy again tomorrow, and talk to him the right way. I hope its not too late. If not, at least you helped me learn my lesson just now!

I really dont want to spend days in the courthouse looking through the files.

Probates Daily was so awesome. Too bad they are no more.

Michelle I think you had the best idea here so far. Get ALL of the data on the tax rolls for your county. But get it in EXCEL format.

Once you have that, just match mailing address with property address and cut out the people you dont want to mail to.

That is exactly what the lead companies are doing, and charging you a premium for.

Genius! Michelle you should go into business selling leads now.

;-)

5 days of due dilligence is pretty standard right? Oh, and are those business days?

Excuse my ignorance, but it will be here until I learn more. ;-)

So this is just a handful of the banks right? I understand B of A in all 50 states being a big deal.

But we still have Fannie, Freddie, CIti and Wells still going full steam ahead right?

I sure hope they continue the business of selling the homes they are taking back. If they try a new strategy like landlording to their defendants, that would suck for investors.

Good question Wheelhouse. I wonder if you have a better chance of it getting accepted if you use their title company?

Thanks a bunch to all you guys. My main focus right now is to build a plan and a network. So I think we are going to speak with a lot of REO brokers in the farm areas we plan to target.

On the flip side I am thinking of building a wholesaler list. I think wholesalers may quickly become one of our best assets. At
least until I have a stronger buyer list.

That being said, I am timid about this market. I would be concerned about rehab to retail at this point still, and am geared towards flipping to investors for smaller profits. Just dont want to get stuck with inventory. Not that being a landlord is the worst thing in the world, its just not in the plan yet.

Thanks guys. I am most interested in turning quick profits probably because of the background in wholesaling. That being said if i wait 90+ days i can sell to an Fha buyer right?