All Forum Posts by: Mike T.

Ben

Type out a one page letter that says you want to buy the piece of land in Blank county and you will cover closing cost and there will be no realtor fees blah, blah blah.  Wait for the phone calls and then offer 25-30% of value.  You can close with a title company for about 1000 cash.  Or learn to close transaction yourself.

I see you are in Gainesville.  I live in Tampa send me a message and I will walk you through process.  I have bought over 50 parcels in last 10 months.

Good Luck!

How many letters did you send?  What was the call to action.  I sent 900 letters last Monday, I received 10 calls on Friday and had had a few more every day since then.

Search for articles from Jeff Brown and Dave Van Horn, they have written a ton about note investing.  Both can help you find notes also.  Be careful when buying notes.  Great investment but you need quality.

Can anyone recommend a title company in Maine that is friendly and fast.  I bought a piece of land a month ago in Maine.  I had the piece under contract to sell within 7 days.  The buyer flaked out on me the day before closing.  The title company I was using will not return my calls or emails.  I have a new buyer and need to open escrow.  I am selling this piece with seller financing and need seller financing docs drawn up also.  Since you need an attorney to close the purchase in Maine this should be a problem.  Does any one out there have any recommendations?  The land is in Cumberland County Maine.

Thanks

I focus on buying and selling vacant land and I am currently looking at a 10 acre parcel in Northern California.  I have it under contract for a couple of hundred per acre.  This piece is 8 miles from a Starbucks and Home Depot.

I just received the title report and it shows there are easements for roads recorded from 1892.  The parcel lies in between a few cattle ranches.  If the parcel map shows what I believe to be roads do you have legal access to the land?

Access to the closest land would require cutting across a 150 acre parcel perpendicular to the way the roads are cut.

My business is growing by exponentially and I am looking for help.  I am seeking an individual that is excited to learn about real estate but is not sure where or how to start.

My business specializes in buying vacant land for pennies on the dollar and then reselling for quick for cash or on terms.  However in reality I am a marketing company.  I sent 2000 pieces of direct mail in January and will continue and that level.  I would like to teach someone the business in exchange for help and I would I also pay you on a bonus structure based on the company hitting certain goals.

The optimal individual would be 

Self Starter

Motivated

Passionate

Enjoy talking to people

Ability to problem solve

Willing to learn

I am extremely busy.  I have a full time job, a baby and a pregnant wife.  I hustle.

My goal would be to introduce you to the business teach how to do every aspect of it.  Eventually helping you run your own direct mail campaign and buy your own deals.  If you are interested PM me or send me an email.  You can read some of my recent blog post to gain insight to what I actually do.

I would prefer to be able to meet in South Tampa one or two days week in the morning or mid afternoon.

I end up paying about .70 a letter.  I spend a lot of money on marketing.  But I am turning down average deals and handpicking the best available.

I only buy vacant land.  If you buy cheap enough i do not see the risk.  I am bot buying huge deals.  All under 15K.  I can pull up google search and look at satellite images.  I would never buy a house site unseen.  But then agin I am sure there are flippers that know a neighborhood very well and when they see an unbelievable deal they snatch it up with out looking at it.

@Percy N. - I actually focus on areas where there is a lot of undeveloped land and access to the information I need to make purchases from afar

Typical buyer is someone looking for a piece of property to develop down the road. 

As we start another year I wanted to take a few moments to share my journey this year and hopefully help someone out along the way!

I finally found a niche that I was comfortable with and started buying and selling deals.  Before I know it we had reached December and I had completed 33 transactions.  If you looked at my old blog you can read about a new investor trying to find deals via direct mail. I really wanted to be a flipper.  I probably sent out over 10,000 pieces of direct mail over 24 months and never bought a deal.  It was tough.  You deal with a lot of rejection. I spent two years talking to sellers but never found that great deal.  The market was building momentum month after month and I did not have the guts to put my families nest egg on the line for a house that I did not feel was a great deal.  I also never wanted to be someone who would tie up someones house and not close the deal.  I had a solid team waiting for that great deal, but I never found it.  I did partner on two deals for an equity split, but I was nothing more than a money partner and made about 12%.  But I really wasn't happy with putting up 130,000 to make 15K.  We never had anything go wrong, but I knew that opportunity was always there.

I always loved the idea of direct mail.  Easy to scale all you have to do is spend more money!  While I wasn't buying deals I was building the skills necessary to buy property from people over the phone!  I spent a lot of time listening to most of the podcast on BP.  One that really stuck out to me was Seth Williams and vacant land.  The deals required a low barrier of entry and you can fish in a pond where there are not many people looking.  I sent out my first direct mail campaign for vacant land in Northern California.  I had a few tire kickers but I received a call from a lady in San Francisco who owned 40 acres with no access in Northern California.  She said she knew it was worth 12K but the land had been in her family and she just wanted to get rid of it fast and she wanted 5K.  I wasn't sure if this was even a deal or not.  But I decided to purchase the deal.  After marketing it for 48 hours had the deal sold for 15K.  Basically I made 10K in 14 days on a 5K investment.  I was sold!!

My strategy is to buy land no one wants for .35 on the dollar.  Sell it for cash at .70 or at full market value at 10% interest with seller financing.  I ended up buying 23 pieces of land in 6 months.  I have sold 11 of those.  I also have 7 purchases already in the process that will spit out in January.

I have very aggressive goals for 2016 which is to create 60 notes and sell 20 flips.  I have a marketing machine now and will send out 12,000 pieces of direct mail this year.  I get a ton of deals and can hand select the best ones.  My problem will be running out of money, not deals. From reading the post of many wholesalers on the forum I mail to a great list that you cannot buy.  It takes some time to get the information and in a format so that it is usable.  

I just want to thank everyone who takes time to answer questions.  I have not asked that many but I have spent weeks combing the bigger pockets forums looking for the answers to my questions.

Hoping I can help someone out along the way  I will go in detail about my first 10 transactions on my BP blog.  

Thanks again for all of your help!