All Forum Posts by: Joe Yobaccio

@Chris Edwards, did your question ever get answered?  Did youi end up doing lease options and finding absentee owners who were okay doing that?

@Sean OToole, I see Property Radar has 1st and 2nd mortgage lenders and loan origination date and % of equity, but would I actually be able to see the current loan balance of the loans?  Specifically, what I'd want to do, is look for homes with a lower current loan balance than today's market values so that I can determine if rent will exceed the current mortgage payment.  All I need is current loan balance on a property and I can determine the approx payment.

Is anyone on this thread, still active?  Most of these responses were from 11 years ago   Today, the prices are up and demand is high.  Is anyone finding motivated sellers in this market or waiting for a downturn?

@Bernie Germani, with the Propery Radar leads, how many mailers do you send to get good results?  What is your approx monthly budget for mailers?  Do you do calls too or only mail?

@nathan 

@Nathan Gesnerthank you for your replies!  I know that about CA and spend a lot of time looking out of State in 2016.  A few very experienced investors and educators were all unanomous in saying I should not invest out of state, even with property managment. One said that the costs typically run higher because a property manager will allow more repairs than needed or they aren't as protective of your investment.  Then, they also all agreed that if I had to go tend to some issue, would I be easily able to fly out state.  So, while I am not a newer investor, I've only owned single family homes.  I also have access to  lot of date in my state because I am licensed and my data software provider also covers CA, but nearby states.  I'd be open to Nevada or Arizona.  What are your thoughts about those states?

@Nathan Gesner, when finind older owners of multi units, are you finding them first by getting a list of 100% equity properties owned for years and then mailing or by going to units you see driving around?  What are the approx cap rates in that area? I'm trying to determine what data service I will use and what market, but most of the areas I can drive to, are really high in price. cap rates, even for old, small, worn down buildings, are still under  5 mostly.

@Nathan Gesner, I hadn't considered that a seller has already profitited and so may be more flexble, so thank you!   I am in So Cal and home prices keep climbing, so the low to no equty sellers are probably not here in great numbers.  In your market, when determing motivated sellers, do you look for any indicators like negative equity or 100% equity or absentee owners?   Perhaps 100% equity, out of State owners may be a good seller to contact vs. the desperate owners.  

@Sean OToole, Thanks, Sean!  I just spent time on your site with videos on the topics of finding seller's in today's market, but found that they were done duirng 2013 or so an focused on finding negative equity homes.  The amount of Property Radar videos I've watched tonight are great tutorials and my time through end of year, during biz hours, is booked up with my note business.  I spent later eves researching properties and the market, so for now, I'd really like to see if there is an updated video or blog on today's market that is from 2017 or 2018 and talks about motivated sellers.  I know there will always be some owners with negative equity in CA, but, all areas have sky rocketed and even in areas I would never prospect, values have risen a lot.  I'd love to email one of your people and see if they can let me know what the current motivated seller list looks like in CA.  I live in Pasadena and don't mind traveling a little bit for a farm, but at some point, it will be too far to be of value, but even 120 miles is okay to drive, but not sure I see areas that may still be underwater in that radius.  Not sure if negative equity is still as easy to find.  

@Sean OToole, I have been watching some Property Radar Youtube videos, but because many were posted when we were at the bottom of the market, those videos talked a lot about underwater homes and pre foreclosure prospecting.   Are there any newer videos that talk about who the motivated seller types are now with values up and equity increasing in most of the markets Property Radar serves?

@Rick H., I know you like good written copy.  Do you favor long form letters or shorter, to the point, post cards when mailing?