All Forum Posts by: Josiah Halverson

@Gary Parker Thank you very much for sharing my friend! Good to know. I'll have to look into Blackbook Data.

Since I've found the answer to this, I'll make a reply in case anyone else is interested.

I filtered by "recent added date" (the date added to Listsource). The preset selections fill in the dates automatically for you. What I didn't realize is that the information it was telling me was actually correct. You just aren't going to find many pre-foreclosures through listsource. It's probably better to just get them straight from the title companies.

Even if you do get more than a handful of pre-foreclosure leads, Listsource requires a minimum $50 list. Getting enough addresses at 20 cents each to meet $50 is going force me to expand to a much wider area than I'm willing to advertise to.

I LOVE THIS DISCUSSION because I think there really is much to talk about. As a someone brand new to rehabs, I am torn between permits and no permits. here's why.

I think it's safe to say than more than half of all rehabbers don't pull permits and don't require the necessary licenses. I know some very up-standing people doing all kinds of work without a permit and I totally understand their reasoning. I think you do as well - I.e. money, time, etc.

As someone that has been involved in the athletics industry, I see a very similar comparison. The sports industry is so unfair. You might be one with tremendous talent and fierce training ethics that sets you apart from the competition. But what happens when you graduate college, enter the pros, and can only hold up for a couple of years before your body breaks. Compare that person with the one that has chosen to take steroids and now can stretch out his career for many more years because his body can hold up better now. Look what happened when Lance Armstrong got busted and came off drugs. He didn't have a chance because all of his competitors were enhanced! But steroids are banned! So does this create a level playing field for those than want to abide by the rules? Absolutely not! But that's how it is. We except that most athletes are using, we understand that the risk of being caught is a game that is just part of the gig, and we move on. Is that mess up or what!

So is my playing field fair if I pull permits every time it is needed? Is my risk worth the reward? Can I be an upstanding businessman and community leader when working this way? After all, our character is more important than money, right?

Jon, do you have any suggestions for the following question posted in a different forum?

"What search criteria do I select in Listsource to filter for 30, 60, and 90 days late mortgage payment (pre-foreclosure)? My choices are "recent added date" or "original recording date". I've tried both and and have come up with zero addresses for both. Date ranges selected were 3/3/2012-3/3/2014, and I tried all preset selections. I appreciate your time!"

@Chris K. Good points. I totally agree. It all depends on how narrow you want your search! Thank you!

@Jay Hinrichs I'm brand new at this. As for as a true 40% equity, I just go by what listsource.com reports. My understanding is that percent equity equals loan amount per home value (LTV). I.e. LTV = 50% = 100k/200k. I am assuming listsource interprets similarly. If my address list happened to not be large enough, I could always drop % equity down to 30% or something. As of now, I'm getting plenty.

Address lists. When filtering lists, why do I care if the person has owned for 7 years or not? As long as they have at least 40% equity, why do I care? I ask because this filter criteria is common among rehabbers. What if someone paid cash three years ago, but now has to move out of state for an emergency. I'd be missing out on those types of opportunities. Is there some greater benefit to filtering by BOTH 40% minimum equity AND at least 7 years ownership? Thank you for your time!

What search criteria do I select in Listsource to filter for 30, 60, and 90 days late mortgage payment (pre-foreclosure)? My choices are "recent added date" or "original recording date". I've tried both and and have come up with zero addresses for both. Date ranges selected were 3/3/2012-3/3/2014, and I tried all preset selections. I appreciate your time!

Darren, my fellow Utahan! I was asking this very question on BP a month ago. Here's what I found. If you are bidding out work and want an estimate from a GC, expect them to do it for free. If you are using a GC to help you develop a home rehab plan - containing details, costs, and schedule - you should pay them for their time and services. $400 is generous. $100 is measly. Keep in mind, many "home inspectors" are former or current GCs so finding one (or a few) that is both gives you double bang for your buck! Hope that helps!

The bird-dogger could be your employee.

In Gary Keller's book, Flip, he suggests paying a bird-dogger $2 per address for vacancies.