All Forum Posts by: Josh R.

I was hoping you would respond J Scott. I have read your books 3 times now and really enjoyed them.

I won't make you wait :)

The home is a brick 1951 traditional style on a corner lot approx. 1900 sqft.

Contract price-$40k
Repair est.-$30k
ARV-$120k

We will be using hard money to fund 100% of the purchase and rehab.

So my wife and I have our first rehab project under contract after driving for dollars and mailing yellow letters for 4 months. Oddly enough this deal came from a FSBO sign I saw while driving a neighborhood on my way home from work last week. The home belongs to a very nice couple in their 70's who cannot keep up the property and have moved to Austin.

I just want to say thanks to all the fine members here on BP and Joshua Dorkin for creating such a useful educational and networking tool!

a local REI company has the site www.investorblock.com it is free to use but they wont give you the address to the comp properties unless you call them and get the password.

The most cost efficient depends on how much you value your time. If you have a small marketing budget then you are looking at handwriting your own yellow letters.

If you can commit to a larger budget then you can outsource this task to any number of yellow letter companies.

Do a search for direct mail here on BP and just start reading everything you can. Then come back and ask any specific questions that have not already been addressed (or you cannot find the answer)

Bill Gulley the seller is the executor of his parents estate. The electric was never turned on under his name so he might run into a problem with the electric company. Also, he does not want to do anything to sell these houses and just wants an easy cash experience. Asking him to jump through hoops to sell will probably be a huge turn off.

My thoughts are to just assume that all these items need replaced and make a low low offer.

Randy F. I'm sure there is a local Ghostbusters team I could call up if need be ;)

When I am driving for dollars I look for:

boarded up windows
broken windows
tall grass
a general unkept appearance
missing mailbox
overflowing mailbox
signs of major expense (blue tarp on roof, etc.)
no exterior landscaping (possible sign of a rent house)
for rent signs
FSBO signs
no curtains or blinds

If I see someone out in the neighborhood I stop and ask them if they know of any vacant houses nearby and tell them what I do.

Im sure there are other things but thats a start.

Thanks Jack Bobeck I will definitely be wearing a mask!

As for the power company possibly wanting to do a safety inspection I am not intending to turn the power on. I intend to wholesale this property so that will be something for the next guy to work out. Good info though for future reference!

Thanks for the insight everybody.

I will be touring this property and the one next door with the seller on March 2 (the seller owns both and is from out of the area.) From what he says they are both in about the same condition, which he says was "fair" two years ago when he was last in them.

My intention is to wholesale this property. I suppose I should just assume the mechanicals will need lots of attention and adjust my offer accordingly since I will not be turning on the utilities and neither will the seller.