All Forum Posts by: Jonathan Loynaz

Welcome to BP Omar!

I'm in Miami Dade so lets network and do some business together!

Good luck!

Hey everybody,

So my girlfriend and I recently started our direct mail campaign to an absentee list we got off listsource.

1st touch consisted of small yellow postcards provided by yellowletters.com. We added ourselves on the list to make sure when they were sending out and how long it took to get them. Not sure what happened but we never got them and only received 5 calls of a list of 712. We brushed it off and kept going.

2nd touch consisted of completely hand written yellow letters and envelopes. We still received the same return. 

Our 3rd touch will consist of a typed letter ourselves and how the home owner can benefit from selling to us. We'll be getting ready to send these by the end of June.

None of the calls we received we motivated sellers. They all wanted 5-10% even 20% above market value.

Is it possible the list is worn out? How often does something like happen to other investors? How could I get around it? 

Thanks guys, we really appreciate the help. More than half of our income goes into our real estate investing and we feel stuck and lost.

Hey BPers, I'm just getting started with my investing business. I've learned a ton and I feel like I know a good deal when I see one. I have an immense amount of motivation and determination to succeed. I also have plenty of time to focus on my investing business. The only problem is I don't have the money or the credit. I recently started my first real wholesale marketing campaign but my main goal is to rehab and buy rental properties. I would assume my only option is owner financing then rent out the property. I also have a family member who's looking to do her first rehab but she doesn't have cash. Her best bet would be to take out a line of credit. Please give me your opinions and let me know what are my best options. Thank you!

Hey BPers, So I've been doing my wholesale direct marketing to absentee owners for about 2 months now (2 touches so far) with no luck of a good deal. They've all been unmotivated and wanting retail price. My plan has always been to wholesale until I can fund my own flips, then buy rental properties because I currently have no money or credit. I've been looking into owner finance and was wondering if it's a good idea to offer owner finance still at least 15% below retail then rent it out, use rent to own, or put a few thousand dollars into it if it needs it and sell it. I feel like my market is over saturated with wholesalers who are dominating so I'm looking for a way around my problem. Any advice or suggestions would be great. Thanks guys!

Hello everyone! I began marketing for absentee owners in my area (Miami) about 2 months ago. My girlfriend and I, hand wrote over 1,000 letters in a little over a month. Unfortunately, the outcome wasn't as expected. We received a good number of calls but none were motivated at all. I do take blame because more I heard the word "no" the more I became unmotivated. My girlfriend and I decided to take a break but now that we have steady paying jobs and have saved up a couple thousand, we want to give it all we got. We've being thinking about mailing out letters to pre forclosure because they actually have some form of motivation. Please if you have any advice or recommendations, I'd love to hear them. Thank you all!

@Jim Viens Thank you for all the advice! Much appreciated. 

When you do the batches, are you following up with the same addresses more than once? I read that following up a few times is good for feedback.

Hey BPers!

So I got a list of 1,200 absentee owners (in-state and out of state) which I began sending handwritten letters to last month (100 a week). So far I've sent all my out of state owners letters (300) and received about 10 calls. My question is, do I finish all 1,200 owners before trying to touch them again? Or should I keep mailing the out of state owners until I've had 5 to 7 touches and if so how often should I send them another piece of mail? Thanks guys!

Jonathan

@Tracy Bruns  Welcome! You'll love it on the website. It's helped me a lot!

If you ever need any advice from Miami let me know.

Jonathan

@Hattie Dizmond  Ah ok. I'll definitely listen to it and read up more on it. Thank you!

Hey BPers,

I'm currently reading a book called, "How To Be A Quick Turn Real Estate Millionaire" by Ron LeGrand. In the book he explains about wholesaling and rehabbing but it seems his main focus is options, retailing, and lease options. From what I understand, he goes out and markets to "pretty houses" then gets a seller to deed him the house for lets says, whatever the seller owes, then goes out and finds a buyer to purchase it at market value and takes the spread of the deal for himself. 

Am I understanding it correctly? It seems like there's less hassle and more profit then find ugly houses to wholesale. I just want to understand different strategies just in case a deal like that comes my way. 

Thanks guys!