All Forum Posts by: Kevin Kim

Best wishes on your chosen path Daniel,

Feel free to contact me for N. Colorado real estate networking connections and to join my real estate investment opportunities database.

~Kevin

Evan,

My partner and I would be willing to consult with you however wish to discuss what your objectives are and what you are facing with regards to the business.  Feel free to call.

Best regards,

Kevin

(970) 310-7111

@Eric Olsen

Thanks for taking the time to share your experience. This was very encouraging.

I tried mailing a few party-sized, handwritten cards to addresses that one of my bird-dogs (in another city) sent to me. She drives by homes in her area that look dilapidated or in need of a lot of work and provide pictures and addresses by email or text messaging. I pull property info from title company resources and public records online. I buy those $1.00 blank, party-sized cards that come in packs of 8 from the Dollar Store and handwrite my messages. 

My first two cards yielded a return call from the owners (for the sake of time I won't disclose my offers). One is an owner that is attempting to complete a renovation on his home (to bring it up to full  value) but ran out of cash and eventually desires to sell in 14 months. The other is the original owner-builder of a four-plex that needs work on his units. The repair and maintenance work appears to have stalled (I think because he's older and simply tired of the work). It's been sitting for months with three of the four units vacant. BTW...the rental market in my neck of the woods is red-hot! 

I can't say that the opportunities have paid off yet as we have visited, talked about their desire to eventually sell and I have provided the owners informal letters of intent. It's ongoing but each party is motivated and my efforts have gotten me phone calls and appointments- which was my original plan. The point is, that I reached potential sellers in distressed situations before the real estate agent in a Colorado real estate market that is moving and shaking. Quite often this provides opportunities to creatively assist buyers and sellers with profitable solutions for their real estate needs.

As this card plan has been a test, I have sent about four other cards since with no response. I know that this is very small volume but I will now ramp up my efforts to send many more marketing cards from my bird dog leads and drive-bys. I am now researching into buying a lead list and perhaps automated direct mail for serious volume.

If anyone here has experience or resources (gurus, lead generation, direct mail companies, etc) for this marketing direction please respond.

Thanks,

Thank you for taking the time to share your successes!

Two things: I don't have all the numbers on this deal but if it can bite you on the back end, stay away. How much is your time worth?
Second, when in doubt....Run!

Consider working for/with a licensed Realtor that has a relationship of trust with you. Example: I am an investor but also considered an "assistant" for a licensed Realtor with the opportunity to schedule and preview listings. This allows me access to the listed properties. There are things to be considered though as I cannot legally serve as the role of Realtor to buyers or sellers. I have to always act on the best interest of my real estate team members.

Definitely Vistaprint!

I'm going to loan a distressed homeowner 10k to cure his default. His current LTV is around 55% (1st and 2nd mtgs). I want to see if I'm on the right track....
1) I'm going to buy his home on a mirror wrap subject to the underlying mortgages plus the 10k new loan amount.
2) I will immediately sell the home back to him on a wrap equal to the existing loans, plus the 10k on a 12 month balloon. He is giving me $4000 down and I am charging him 10% apr on the 10k loan. His repayment schedule on the 10k is approx. $500/ mo. plus reselling the home with a 5k profit (back end). I wanted to avoid usery loan charges thus the profit on the back end.

We will be closing back to back with a title company using ILC's.
Am I on the right track?

Great info. I handwrite, use multiple signs on a single property and often list terms: 4 Sale, $3150 down, $518 month.
These are FHA terms, get a lot of renters calling in. I fish the 80% market that dont know that they can buy. Great for collecting a buyer's list.