All Forum Posts by: Jake Rees

@Courtney Merricks

Hi Courtney,

From what I have found, you want to send at least once a month. Out of curiosity, what markets are you focusing on.? We do probate/trust, fsbo, expired and other niches to stay on top of the market in our area. I think the real key is to be consistent in what you are doing and keep refining your letters/postcards, scripts, email campaigns and other marketing material. Remember it normally takes 5-12 contacts to make a sale. And always call them if you have a phone number.

I would recommend using some kind of CRM to stay organized, and help you to keep track of who you have sent to, what day you sent it and find out what is working and what isnt.

@Lisa Newport

Hi Lisa,

Have you looked at doing a cash out refi on your home for a higher down payment for an investment or renting out your current house and purchasing another as owner occ?

You may be counted as high risk with the multiple loans, so financing in general may be difficult depending on your current income.

Also, if you haven't already, take a look at what the current leases are renting for. If that wont at least cover what your expected payment and any problems that may occur will be then it wouldn't be worth while.

@Brandon Turner

In California the Title company handles research and makes sure title is clear.

Closing happens through escrow.

@Joe Cummings

Joe,

I understand what your saying. Im going to give you the down and dirty version. 

In reality it doesn't matter who you go with, the important thing is you have someone watching out for your best interest. The buyers agent is protecting you in the same way the lawyer is, making sure the contract is valid and if any problems occur, they are at fault. (I'm not saying real estate agent or brokers are the same as Lawyers) The E&O almost never comes into play, but its a good safety net to have just incase. I have never had a problem with an all cash deal and they very rarely go wrong. All contracts come down to terms, if its an experienced agent or Real Estate Attorney, they should be able to look at that and make sure nothing extra is written into the contract. One benefit of using an agent is that it is built into the cost of buying the property, as it would already be written into the contract by the listing agent. If using an attorney, that would be paid out of pocket.

It really comes down to who you would rather work with. I would rather work with an agent that I trust than an attorney, like Jeff would. Because in my state I am better protected that way.

I hope I answered your question thoroughly. 

@Lee S.

Hi Lee,

I used to have to do these for the bank back in the reo days. Your on the right track with a cash for keys, otherwise your more than likely going to be looking at a sheriffs eviction. Im not sure what the time frame on this is anymore, but they used to be 4-6 months. 

The real issue is if they are going to trash the house before you take possession. I have seen people pull all the copper from the home and pour cement down all the drains because they were pissed off. 

@Joe Cummings

I would look for an agent in your area that specializes in commercial real estate. Its going to cost you the same if you bring in your own agent or use the Selling Agent, as it would already be written in the listing contract between the seller and listing agent.

The real reason to use your own is because the selling agent is only responsible to get the best dealer for the seller. And if there end up being any complications later on, your agent should be carrying a few million in E/O insurance that would cover that cost (if you went to court). Just something to consider.

@Andrew Cordle

 That is a good point, I had not thought of it as being useful for a lender. And absolutely, I would never recommend showing an early stage remodel to a potential buyer in person or a video. 

Hi all,

I wanted to find out what the BP community thinks of home tours prior to purchase/ flip or just to have as a record of condition on the property. By home tour I don't just mean some pictures moving on a slide show, but where you can move around and look at various areas of the property.

Here is an example of what im taking about, and the property happens to be at the begin stages of rehab: https://my.matterport.com/show/?m=gZUYkTLQcrA

I'm genuinely curious as to what y'all think and what other applications this would be good for.

Respectfully,

Jake

I would recommend using a company that has a matterport pro 3d camera. I use this for some investors i work with in the Orange County, both before and after a rehab. The true View company Adam pulled up is an example of such a company. This is the same tour that Redfin was supposed to add to all listings, but I have not seen them in my area yet.