All Forum Posts by: Scott Avidon

Rick - Yes! Considering that some of the well known list providers I purchased from in the past had very high retuned mail rates. One had 77/368 returned!

Thanks for the input on the "nixies", I'll make sure I look into them rather than discard and remove from my lists.

How far back should I start in the probate records? I figured a year was too long as they would either be keeping the house or sold it by then. Closed cases or open/pending?

I know to let spouses be as they most likely won't be motivated to sell but what about the house that is split evenly between three kids?

How long should I wait to update the list once it is up to date?

So many questions after today's trip to the court house.

Thanks for any insight!

Hello all,

I have been spending a considerable amount of time in the record research departments of my local court houses trying to get my hands on judgments pertaining to real property. It is a bit more confusing than I would like to admit. I thought you might be able to help me out with some questions.

1. Is there a particular document that we should be looking for? I found many are listed under determination of homes and others under distribution of assets. etc. Many court clerks have told me that at one time they had a "run report" system that would turn all this into a very easy list to get but that it had been discontinued.

2. What other lists would be possible to get from data mining like this? I have yet to walk into the records department and see another investor or anyone with a laptop building lists. I want to capitalize on this if possible as it doesn't appear that many others are willing to take the time to mine it for themselves.

3. Where am I missing these other probate records from in my searches? Some of my lists in large counties only turn up say 100 properties in a year search. Surely there must be more than this?

4. GOOD news though, my last mailing of ~100 returned only 5 letters. Good to see that they're getting to where they need to be.

Thanks for any input in advanced!

SA

@AnsonYoung

This was the idea I had. What kind of spreads do you usually see? Are these Fix and Flip type deals? What if the house is in perfect condition? Anything that prevents you from just flipping the house after the negotiation goes through?

@Dev Horn

The idea is that I will personally deal with the 10% of properties that have equity but still fall into foreclosure, where the real money is. The business model didn't seem complete without also offering to help everyone that might fall into the foreclosure. One because I'm not sure a list provider would differentiate between those with equity and those without, or even if they did, how accurate they would be. Two, is there not money to be made once a short sale has been successfully negotiated? Especially if I tell my short sale specialist what the numbers have to be for the deal to make sense? Three if someone calls my phone how am I supposed to say no can do? I should at least refer them to a specialist right?

I am currently pursuing avenues with bigger spreads like probates and absentee owners with equity. I also know that here in FL we have one of the biggest foreclosure markets around. Why not dip into that market if I can outsource the work on a commission basis?

Am I missing some fundamental here? Seriously, call me out if I have no idea what I'm doing!

And again, thanks for the reply!

Thank you for the quick reply.

I think that a percentage of the profit on any deal closed would be the best route to take. Please correct me if I am wrong. What would everyone say an average percentage is so the newbie doesn't get swindled when talking to some locals?

Ah, and yes. $250/hr is a little much!

I am a new investor and have come across another situation.

Preforeclosures. They're all over the place, especially here in Florida. It's fair to assume that I would want my company in on the action. So we set up a direct mail campaign to do just that. I have learned that 80 to 90% of the deals that come through will end up in a short sale.

I understand that short sales can be a long process and those that work them will often times have upwards of 50 working at any one time. While I can see that they can potentially be profitable, I have ZERO interest in working these sales myself. I simply don't/won't have the time.

How is the process of outsourcing this stage of acquisition typically done? I currently work with Realtors but feel that I need my Realtor focused on what they do best, and that's marketing! So where do I start prospecting for someone to work these deals for me? Real Estate Attorney? Tittle Company? How are the deals with the team members usually cut?

Thanks in advanced for any input!

Yes I plan to try again in the morning.

I was told by the rep from the county that there are two fees. One for regulated business and one for non-regulated business. The price difference is minimal but because of any other potential implications that I may be unaware of, I wan't to do this right. Also, I'm not going to admit that I need a license to do business and go ahead and make deals happen under this false assumption.

She told me that if I filed regulated I needed to provide a certification in the required field and if not that I needed a conversation refrence number of the talk with the DBPR. I assume they actually check the recording? I have NO idea, but it was what I was told.

Thank you for the replies, this is what I thought.

I told them that my company is a real estate investing company. We buy and sell real estate short term and occasionally buy and hold property. That's it.

I asked multiple times to speak with a supervisor but never reached one, only to be told that "My two supervisors agree that you will need a RE license and will tell you the same thing I have told you. You need to talk to a RE attorney." I thanked her for her time and hung up.

She had my blood boiling to say the least.

So do I continue to file with the county as non-regulated or is there really need to get a RE attorney in the mix? Like the county would take my attorneys word? I don't even know what that means!

Hate to bring up an old post but some archive searches yielded nothing...

I am applying for the county occupational license as these are required in my county for flipping under my corporation. I needed to know if I should apply for the non-regulated or regulated license. I was told to call the DBPR and ask them.

They tell me that I need one because I'm receiving "compensation".

I reminded them that my company pays me a salary that is non-dependent upon the profits of individual deals.

I also tried to tell them that the Florida Statues clearly states that corporations may buy, sell, exchange, lease their own property without a real estate license.

Now the problem comes in that I can't file non-regulated unless I have a conversation reference number from the DBPR saying that I don't need one.

What do I do now?

@Patrick E. ,

Thanks! Will do