All Forum Posts by: Jimmy T

@Bobby

One way we're "scrubbing" our lists are taking our "old lists" and having our VA's cross referencing them to see if they've been sold or have transferred within the past year or so.

@Jason - 

I was intrigued by your response because my partner and I was literally talking about the very same topic today (absentee mailings).

Part of our discussion was mailing to "owner occupied" properties with equity.

Obviously there are some minor disadvantages of course such as "waiting for them to move (longer close times)", etc but I agree with your methodology of "thinking outside the box".

I'm seriously interested in what you are "doing different" in terms of mailing parameters for these "owner occupied" properties.

I don't expect you to "give anything away" nor am I expecting any handouts but my partner and I have dissected this subject over and over and it would be nice to have some insight from someone who is actually having success with these "owner occupied" lists.

I'm local here to the SF Bay Area as well and I can't even begin to tell you how many calls I get from people who complain about receiving so many different inquiries from others trying to "buy their house".

Any additional insight you can provide on the forum or via PM would be GREATLY appreciated..

Jimmy

Hey guys,

Thanks for the invite!

Local Rehabber/Investor here locally in the SF Bay Area. Looking forward to meeting each and every one of you guys!

Cheers,

Jimmy Tu

Hey guys,

Happy New Years everyone!

Have prior commitments this Thursday but would love to meet each and every one at a later date.

Please keep me posted on the next event.

Regards,

Jimmy Tu

Hi Winson,

Congrats on your first campaign!

You are taking "action" which is the hardest thing for most people to do, so I commend you for that.

If you have a limited marketing budget but have the time, driving for dollars can be a great strategy. I would recommend taking down the addresses of properties that appear to be vacant or distressed. I would then look up the owners via tax assessors office and mail these folks. I have access to look these up for you as well, so let me know if I can assist.

As for your letter, I would recommend keeping it as simple as possible. The idea is to get the sellers to call you to have a verbal discussion. They tend not to call you if they can find out everything they need about you on the website.

Hope this helps! You have my number so feel free to contact me if you need anything else.

Cheers and best of luck,

Jimmy

@michael q. - Hey Mike, just curious but what are your deed origination date perimeters set to for your in/out of state mailers?

I'm looking at a minimum of 10 years so would I set the mortgage origination dates from 10/1/03-10/1/13 or something like 10/1/90-10/01/03?

These annoy the crap out of me. I've noticed that tons of new wholesalers are posting a ton of these things on CL.

I would then contact them only to be told that the property has been "sold" and they then attempt to take down my info.

Personally, I would rather go with an upfront and honest approach with your ads such as posting an example of a previous property that you have wholesaled to a cash buyer etc.

I personally feel like I've been "duped" when I respond to one of these ads.

Hi Frank,

Do you have access to MLS? If not, I would say the best tool to use is Redfin.com.

It allows you to look up comps with a map radius of the area. My criteria when pulling comps would be properties that have sold within the past 3 months, .5 mile radius, within 300 sq ft of the subject property that you are comping.

There will be occasions when you cannot find something within these parameters, so you can adjust accordingly. Such as going 6 months instead of 3 or moving it to 1 mile radius instead of .5.

The dangerous thing about moving your search parameters to 1 mile instead of .5 would be in some markets, the sales prices could change dramatically within a matter of a few blocks. So it's imperative that you know your market to determine whether or not the comps you are looking at are the same based off of neighborhood.

Hope this helps!

Jimmy

Hi Eric,

My main markets are SF, San Mateo, Alameda, and Contra Costa but have been kicking around the idea of expanding out to the San Jose, Santa Clara areas.

Would love to speak with you about your business and share some ideas. We have an upcoming mixer next Thursday if you're available:

I had another case where two brothers were able to successfully "boot" the third brother out of the trust.

I'm not sure how it applies in a probate scenario but it might be worth running it by your probate attorney.