All Forum Posts by: Jessica Gourdine

Driving through my town yesterday, I came across a vacant property (that I should've pursued years ago). I looked up the info on our county website to get owner info and saw that the current owner is a loan servicing company out of FL. The property was purchased this past July. My question is, being that they just bought the property, is it worth pursuing to see if I can make a deal out of it and if so, how would I approach the company?

Thanks @Bill Gulley

I'm creating my buyers list and I'm starting with searching the MLS for cash buyers within the last 6 months. On the county's website, they have "current owner" and "owner of record"; if there are different names under each of those headings, which would I target, current owner or owner of record?

Also, for whatever reason, no matter how many houses an individual buys, the owner address is always the same as the property. For example, if the assumed investor bought 123 Main St, 123 Main St would come up as the owner address. If the same investor bought 456 Random St, that same address would also come up as the owner address. There are no other addresses listed on the page with the property/owner information. My question is, should I try and contact the assumed investor at that address or would that be a waste of a stamp, (thinking that the address is an investment home being flipped, wholesaled, etc).

Thank you ALL for your replies. From what I gathered, I should have paid waaaay more attention in math class! :-) I've been on my county's website just about all day compiling an absentee owners list and I think that's where I'll start. I'm going to try cold calling a few like @Brandon Turner suggested to get that initial fear out of the way.

@Sharon Vornholt , I listened to your podcast and got a lot of great info from it. Would you be willing to let me use the sheet you use to get info from your sellers?

I'll definitely be checking out the links above @Chris Feltus . There's a fine line between getting enough info to start and trying to get so much info that you never start. I know I'll learn more as I actually get in the game, but thinking back to when you all started, what are things you would suggest I absolutely understood before sending out my first mailing or the 1st cold call?

Thanks for the reply @Eric Black ! That helped a lot. I want to throw all the excuses out the door so I can just go for it. I guess the biggest thing is remembering that I'll learn more as I go, so I just need to get off the bench and get in the game. I appreciate your help!

Ok, so, I've been reading the books and blogs, searching Bigger Pockets, listening to the podcasts, doing my research and I'm more than fired up to finally launch my investing career by first learning and gaining success in wholesaling. There's only one thing that's holding me back.....ME! I guess I'm nervous and, for some reason, I feel like I need to know EVERYTHING before I move forward; the dreaded analysis paralysis. But I'm determined to make this happen so I'm hoping that, to help remove some of this anxiety, you guys can give me your expertise on a few questions I have. I'm sure there will be many additions to this list, but here it goes:

1. What info goes on to a postcard that doesn't go in a yellow letter?

2. How often should I mail to my lists and how much is too much?

3. Is the same info sent in each mailing or should there be different info in, for example, each yellow letter or post card? Or is it best to alternate between letters and postcards?

4. I want to make sure I understand ARV and how to come up with an offer price? If a house I'm interested in is valued at $100k, I'd take 70% of that ($70k) and then subtract whatever repairs are needed (say $10k), and that would be the price I offer to the buyer ($60k); so the price I offer to the seller would be less than that (say $50k) and that's where I would profit?

5. What does it mean and why is it a plus side to have a high equity owner?

6. As a wholesaler, what other costs do I need to factor in when I'm setting the price I'm presenting to a buyer? Does the wholesaler usually pay any closing costs or title fees, etc?

7. What are a few questions I should always ask sellers when they make that initial phone call?

I believe that's all for now. Thank you guys for reading this long post and for the great help I know you all will give me!

Ok, so, I've been reading the books and blogs, searching Bigger Pockets, listening to the podcasts, doing my research and I'm more than fired up to finally launch my investing career by first learning and gaining success in wholesaling. There's only one thing that's holding me back.....ME! I guess I'm nervous and, for some reason, I feel like I need to know EVERYTHING before I move forward; the dreaded analysis paralysis. But I'm determined to make this happen so I'm hoping that, to help remove some of this anxiety, you guys can give me your expertise on a few questions I have. I'm sure there will be many additions to this list, but here it goes:

1. What info goes on to a postcard that doesn't go in a yellow letter?

2. How often should I mail to my lists and how much is too much?

3. Is the same info sent in each mailing or should there be different info in, for example, each yellow letter or post card? Or is it best to alternate between letters and postcards?

4. I want to make sure I understand ARV and how to come up with an offer price? If a house I'm interested in is valued at $100k, I'd take 70% of that ($70k) and then subtract whatever repairs are needed (say $10k), and that would be the price I offer to the buyer ($60k); so the price I offer to the seller would be less than that (say $50k) and that's where I would profit?

5. What does it mean and why is it a plus side to have a high equity owner?

6. As a wholesaler, what other costs do I need to factor in when I'm setting the price I'm presenting to a buyer? Does the wholesaler usually pay any closing costs or title fees, etc?

7. What are a few questions I should always ask sellers when they make that initial phone call?

I believe that's all for now. Thank you guys for reading this long post and for the great help I know you all will give me!

@brandonturner

Thanks! I've definitely been listening to the podcasts. Even fell asked listening to them a few nights! Lol. Great site. I'm learning a lot and I'm going to my 1st tax sale in a couple of weeks. Hoping to find my 1st deal.