All Forum Posts by: Lindsey Johnson

Hey @Eric Bennington,

Sounds like you have had a ton of success in Philly. Do you still have a team in that area? If so, it may be worth still marketing to and doing business there. I currently have a team in San Diego who is my boots on the ground and I facilitate leads, book appointments, and run numbers from South Carolina. With tech, its crazy what you can do from afar. Just my two cents, might be wise not to close the door on something that was working! As far as your new location and finding capital, it seems like if the deal is right, based on your track record, there are many lenders in this community who would lend to you. I think you will have lots of continued success in Brookville. You are in the right place. 

Best of luck to you!

 Agree! Deff plan to use this strategy when the deal is right. 

@Chris Seveney

Thank you for the feedback. If you carefully look at the 8 solutions I mention, 6 of them are ways for the family to keep the home. All ways I do not get paid and do truly help the family. Hardly predatory. The final 2 are services for a fee, but not a fee to the seller. All 8 remedy the foreclosure and help the family. I am also licensed so thats a plus too if they do want to list. I hear and appreciate your concern. I know there certainly are ways to make this process predatory. But our goal is to help families, not manipulate them. 

@Chris Seveney And I say all the above humbly, knowing I am still in the early stages! I do think it helps to articulate though, so thank you for the opportunity. Any advice is welcome. 

@Chris Seveney

Short answer is, It depends.

In some cases, listing may be the best way to go! But, with days on market lengthening and talks of a recession, that notice of default may quickly turn into a notice of trustee sale if the timeline is too far progressed. Yes, you can apply for an extension and we do if that will help them, but I think that is just kicking the same can down the same road. Probably won't change a whole lot. Secondly, Often times these properties are also tax delinquent and/or in disrepair. They won't appraise out for a conventional mortgage and thus wont quite fit the needs of an average buyer. You could renovate and list, but if you aren't paying your mortgage for 120+ days (the general timeline for being issued an NOD in CA), you likely don't have excess money laying around to renovate. We can also help with loan modification, renter placement, and bankruptcy attorney referral, but these options are also quite unappealing to a distressed owner. Generally speaking these properties are best served with a cash offer (for me a wholesale) or a creative financing situation. Enter Evergreen Investments:)

Foreclosures are on the rise and will continue to be one of the best investments in my opinion!

Hey BP,

This summer a partner and I created an acquisitions platform, Evergreen Investments. Our goal is to help families avoid foreclosure and we primarily door knock, call, and text preforclosure notice of defaults. Our monthly conversion goal is 500 leads > 50 conversations > 4 appointments > 2 offers > 1 acquisition. Last weekend we put a sweet property in Oceanside under contract. Excited to see what the future with this strategy holds!

For those more experienced in foreclosures, the 3 strategies above, and/or acquisitions as a whole, what advice do you have on how to optimize this process? Is there a specific opening line you like to use when a lead is cold? How do those conversion rates look? When the exit is a wholesale, how do you all go about finding your cash buyers?

Any advice is appreciated.

Thank you all!

@Brock Dowis Got you added!

Hey BP,

I have a couple of properties under contract and am looking to build up my buyer's list.

If you are interested in cosmetic fixers with good spreads and solid ARV in the San Diego market, DM me to be added to the mailer!

Hey everyone!

My partner and I are working a list with door knocks, cold calls, and texts with wholesale, BRRRR, or flip exit. As we encounter new properties on our list, I am skip tracing them to make a call/send a text. I am finding that only about 50% of the numbers are good and some of those are landlines. Do any of you all have a ski tracing service that you have found to be super top notch? Want to make sure my time and money are being used as efficiently as possible with good data. Any feedback is valuable! Thank you.

Lindsey

BP fam,

I have a property up for assignment at 1421 Santa Rosa St, Oceanside, 92054! Awesome opportunity to own a piece of coastal Oceanside that could serve as a great BRRRR or flip. ARV of 725k-750k+ and needs an estimated 85k rehab. Cash or hard money. Photos attached. We need to close by Nov 4. Price is 600k. DM if you or anyone in your network are interested in the property.