All Forum Posts by: Marvin McTaw

@Jacob De Los Santos I've got to second what @Roland Paicely said. Don't over complicate this and don't focus so much on the mechanics. If you're following the direct to owner/seller model, focus on listening to them and providing value. Know your numbers when you go in terms of what you can offer to buy the place for but don't let that be the limit to the value of what you can offer them. 

Maybe they do actually need to get work done. Refer them to a contractor and get a referral fee. Maybe they should list with an agent. Feed them to an agent and have them either pay you a marketing fee, get you MLS access or have them help you in some way to help you grow your business.

Maybe they should just keep things as a rental and they really just need a good property manager. Find one and introduce. 

Focus on solving problems and creating value for sellers. After you've done this you can find ways to capture some of the value in the form of economics for yourself as well. 

@Jordan Bemboom people are willing to help out. I would encourage you to reciprocate and pay it forward as well. Ask other wholesalers how you might be able to help them with their business. You provide value and you get to learn. Time is our most valuable asset, not money. Keep that in mind when you ask people for their time and with how you spend your time. 

@Quarn Corley thank you for sharing this. Great list of ideas and suggestions. 

@Steve Cheslock thanks for the clarification. In the grand scheme of things, I don't think that ultimately matters and I wouldn't let it impact anything you may be doing. Maybe adjust your prices for buying and selling but frankly, I probably wouldn't change anything you do on a day to day basis. 

The contract for 3156 Oak Dr, Lawrenceville, GA 30044 offers fantastic return opportunities for landlords and fix and flip investors on this three (3) bedroom, three-and-a-half (3.5) bathroom house in Sweetwater Estates that sits on nearly 3-acres! This neighborhood is also in one of the best school districts in metro Atlanta, which includes Parkview High School.

Rehab investors can potentially earn cash-on-cash returns of almost 31% or greater with the contract for this property. Good, but not great, renovated homes like 3450 Oak Dr have sold (pending) for as much as $242,500. This means your potential resale could be significantly higher for an excellent renovation or space addition.

Landlord investors can expect rents of $1,450 to $1,550 or more generating substantial positive cash flow. At the low end of this rental rate, landlords would earn cash-on-cash returns in excess of 11%!

Don't lose out on this opportunity to secure the lowest cost, best value property in the neighborhood making this a winning investment property! Visit our website http://www.bmsells.com/property for more details or RSVP for the inspection and walk-through taking place this Wednesday, February 28th at 1 PM ET to learn more about this opportunity.

@Steve Cheslock I'm a little confused. Do you mean flee as in leaving the state or did you mean flea as in the insect? 

@Chris Hodge when we've mailed in the past we usually just send blind copy mailers to get a bigger response. You can also just send a regular yellow letter. In situations like this, people are sometimes embarrassed to admit their situation so in my experience I've found it's better to let them tell you about it than the other way around.  

@Ray Hernandez - you need to look for the Cash Buyer lists and market to them. You can also go to the Foreclosure Auction to talk to people buying properties there to find actual cash buyers. @Ryan Cox's suggestion of local REIA's and networking is also a good way to find buyers.

I would imagine in the part of California you're in (think I saw it once on Flip or Flop LOL) that you could probably contact Cristina and Tarek El Mousa too! 

@Michael Weis - some lenders will actually get you as much as 80% depending on the loan program and whether it is recourse (i.e. you personally co-sign for the loan to your legal entity) or non-recourse. 

Most traditional lenders have six-month seasoning (i.e. ownership) requirements for you to get refinanced and get your money back out. That being said, I'd encourage you to shoot for a higher ARV so you can get more than what you put in to the property back out via the refinancing.

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