All Forum Posts by: Joe Davalos

Per Trulia. Instead, the borrower is allowed to hire any contractor they want for the 203k loan but it is the responsibility of the lender making the loan to "approve" the contractor. An FHA approved contractor is actually a DE lender (Direct Endorsement FHA Lender). You can find these DE lenders by going to hud.gov. I’ve got a good contractor but not cheap. Licensed and insured. If you want info let me know.

Asset managers do not for the most part deal directly with buyers. This buyer knows the heavy hitter REO brokers. I know I am one. He has a proven track record. But unless the broker is shady he has to present each and every offer. If the house has been on the market and a week goes by and you have not seen it or made an offer than your late to the dance. Now if your getting out bid by this investor each and every time then well that might be a different story. In a sellers market the best deals are off market. Less competition if you know where to look the owner doesn’t know who the biggest investor in town is and like yourself shouldn’t care either. They want to get the deal done if they are serious about selling. Your their solution

Working on your business is the way to go. That’s my goal Also. I can do almost everything in my REI business. I will hire a VA but first I started recording my various tasks that I complete like skip tracing returned mail. Every time I set aside an hour to do something I can have a VA do I am recording and explaining why I am doing what I’m doing some logic and details If interested look into filmora or camtasia. They both have a free trail. I tried filmora first but it didn’t like how my video file was saved. So I tried camtasia and it worked great. Filmora is less expensive but I didn’t want to hassle with it. Also you can use your phone to record sound and load it later or by a microphone. I bought an FIFE microphone for 21.99 on amazon and it works great. How else am I gonna train someone half a world away. Oh yeah also working on a training Manual to go along with my videos. Hope to have a VA soon as I am tired of working in my business instead of own. it’s costing me lost revenue and adding mental fatigue.

Par for the course. I thank them for saving me a stamp.

If your sending postcards the stamp is not gonna matter. Either they read it or they don’t. Unless your sending a small amount your not saving much money. First class postage on small postcards is .34 cents. If you send out a thousand your saving sixty bucks if you can get the 1000 for 40 cents. Figure in your Time and card stock no savings The drawback on less than first class is you don’t get returns or forwarding address notices. Some services will Even run your list against the post office updated address list and let you know the new address If your sending to a specific list and you are certain they live there then ok. If not then you would me amazed as how many people move and don’t update their address with the county. When you get a return you can put your detective hat on and find relatives if you find out they are deceased or elderly At the end of the day you want to reach your audience when at all possible. Going less than first class diminishes that possibility

Where are you finding your VAs. I am looking into onlinejobs.ph which is a site that allows you to view resumes and interact with potential candidates. Just curious if anyone has any recommendations

So were your intentions to hire a realtor to find you a tenant and then you were going to manage it yourself. If so You were going the cheap route. It will cost you so much more in the long run. The realtor was probably doing you a favor and had good intentions. The road to hell is paved with good intentions. Now you walk this long road and hired a Property manger to walk with you So many landlords call around asking for realty companies to find them a tenant and then want to save the monthly management fee and manage it themselves. A good property manager will weed out the flakes cons and grifters. They will collect an application fee and perform their due diligence They protect you and themselves. They are worth their weight in gold I saw this happen years ago. A broker managing his own house with no experience had a grifter apply. The dog and pony show she put on every time she came into the office was spectacular. Same deal all lies Her over the top income and lifestyle was total BS. Of course he didn’t find out until her deposit check and First month check bounced. This was pre internet days so immediate access to credit was not there Not the case I’m today’s world I guess the takeaway is always hire a good full time property manager upfront let them do what they get paid for and don’t cut corners Hiring a Realtor that is not a Property manager to find a tenant only and to save the monthly management fee Is Like going to the dentist and being told you need a route canal. Thanks Doc I will take it from here I know how to use a drill.

Buying a list of absentee landlords from list source is not filled with motivated sellers. Sure they could be older with a lot of equity and live out of town or out of state . Many landlords have well managed properties that cash flow. No motivation Now a owner that has a city boarding lien is a different story. Property. Is vacant and was not secure. That is a seller with an issue Add to the fact that the owner died w out a will and kids can’t pay the taxes nor figure out how to sell the house. Now you have some motivation. They have a real estate problem. 400 of these type sellers and your odds go up But wait everyone chases city liens or estates or tax delinquents. Isn’t that the secret sauce the gurus teach. Yes they do but most are one and done. Get a good list and stick with it. Consistency is the key. I’ve just sent out 4200 cards this month. I have had some success in the recent past. This month not so much. I spent 1600 this month and will spend 1600 next month. I’m gonna stay with it because it works. I’m curious how did your buyers list.

Absentee owner. Almost Everyone starting out goes this route. In a competitive market It’s a crowded space. Getting an absentees owners list is as easy as ordering something online through amazon. This epitomizes the saying Do what is easy and your life will be hard. Do what is hard and your life will be easy Listen to podcasts on direct mail. Listen to a lot of them. Make sure the guest has some credentials and is successful. Also are they of a giving nature. Are they genuine. If so They will provide you with some golden nuggets Some direction. There are gonna be some that say we send 20000 a month and Just blast everyone. Others will talk about what best lead source works for them. Open your mind. Set up a plan of action. Then get to work.

Hi Ray How do we access the software. I’m lacking a CRM so most interested