All Forum Posts by: Paul Yevzikov

also with the realtor you are listing the contract, not the property, but for all intents and purposes to the end buyer it looks exactly the same

make sure you have an investor friendly title company and lawyer lined up in ADVANCE who will play with you and your realtor on these terms.

Yes this is allowed, and I have had several realtors willing to play ball with me in these situations.

The key is to have an option contract that includes language to let you do that. Mine says something to the effect of SELLER hereby grants buyer immediate access to property and permission to market property, including listing on the MLS and entering into contracts for purchase and sale.

it's important to go over this one with your seller in advance, otherwise they're gonna be pissed when they see their house listed for $50K more than your option price.

Just look them squarely in the eye and let them know this is how you do business, and it's what it takes for you to help them. If that's an essential part of your exit strategy, don't for a moment slack off and let them get away with compromising the rules you've set for yourself. You will regret this later.

Ask me how i know this!!! (actually don't)

Then again, if they're motivated enough, they'll do it.

Paul

It was impossible to find any cohesive threads on which postcard fulfillment place was best to use.

So I found and compared the dozen best ones and compiled a side-by-side analysis, with pro's and con's of each.

If you're serious about postcard campaigns and want this info to help you out, just PM me and I'll gladly email you my research.

Also because I will be curious, please just include a short note on:
- the area you're from
- what investing you do
- what campaigns you're using postcards for
- what your successes have been so far and what tips you might have

:)

thanks!

Paul
New Jersey

I got someone to pull a weekly list of every FSBO in my target area from the internet.

I'm considering getting someone to just work the phones and call each one looking for either wholesale, subject2, or owner carry situations.

Can anyone offer any input on:
1) Their successes/failures from this type of campaign

2) Numbers. How many calls did you make per week, % of decent leads from this, and # of deals.

3) On avg. how many calls/leads per deal should one expect when cold calling FSBO's?

4) Are some FSBO sources better than others? Ex: classified versus craiglist sources?

thanks,
Paul

Just wanted to share this tip.

I created a monthly calendar in Excel, and wrote out what marketing activities are getting done on each day, and exactly how many hours they're going to take.

If you haven't done this, I HIGHLY recommend it.

Start with your goals (# deals/leads needed per month) and work backwards, and only start with the BASIC strategies that you KNOW work. Then start adding on the creative ones.

60-90 days seems to be the ideal projection time.

Paul

Postcards are way easier than letters, although a lot less information fits on them.

I'm considering phasing out ALL letters, and using just postcards.

From their EXPERIENCE, does anyone have input on the success of postcards (versus letters) to:

- expired listings
- evicting landlords?
- code violations

thanks!

Paul

protect yourself by taking a large nonrefundable cash deposit.

if they start backing out, this is the specific language I use:

"Mr. End Buyer, you told me you're SURE you want this house. Tell me why you need X amount of days to close? That's a long time.

You can have all the time in the world, but that privilege is going to cost you $X dollars, in case you change your mind. You weren't going to change your mind, were you?"

works like a charm...

To find them is easy...go to a local REI club, and shake hands with a few dozen of the guys that strike you as motivated. Let them know you're looking for bird dogs. Of 1 dozen 4 will call, of those 1 will not be a tire kicker.

Also anytime someone calls your sign with a non-deal they're trying to wholesell, get all that persons info and offer to help them out.

I've found that a semi motivated bird dog can bring you 3-5 solid leads a week if you stay on top of it.

The hard part for me has been keeping those people motivated once they're first half dozen leads that they were so excited about end up going nowhere.

Hello all,

I normally do single fam, so I wanted a quick hand with numbers on a deal I'm considering.

Location and repairs aside, strictly by numbers, what do you guys make of this deal:

Single house, 3 fam:
- 2 bed/1 bath
- 2 bed/1 bath
- 2 bed/1 bath
- 2 car garage
- separate meters

Total rent is $2,500.
Monthly taxes are $320

What would be a good estimate for monthly expenses (50% rule??) As investors (cash buyers looking to refi out), how much would you pay for this deal, strictly by #'s?

thanks!!

Paul

Good morning,

2 questions:

1) In a nutshell, what experiences have people had with bird dogs? Have you guys done deals off of them, or do they just consume your time?

2) There are a few bird dogs and aspiring wholesellers who I might want to work with me.
There is a fine line between helping people develop, and straight up training your competition, especially if they live in the same town. However, the motivated people will succeed no matter what, so you might as well be a part of their growth.

So the question is, what kind of learning curve should I plan for them to ensure that we're both going to benefit and they dont feel like they're wasting their time, while giving them the room to grow and figure things out on their own?

Big questions I know...eager to hear your thoughts.

thanks,

Paul

Paul