All Forum Posts by: Christopher Moran

@Josh Reynolds 

I've offered 500 to local mailmen/women, UPS drivers and fed ex drivers . there the ones on the dead end streets and areas that aren't out in the open. I approached them while driving for dollars , told them who I was what I do. And if you know anyone in the town hall, building inspector, water dept etc, my phone is ringing and I'm getting E-mails, the hard part is tracking down the owner!! Getting to the owner before it goes into foreclosure is huge. door knocking can be scary but I do it, give my card to neighbors let them know I want the property next door and If they see the owner can they give them my card..

HAPPY INVESTING!!!

So I have a highly motivated seller who has 2 mortgages.

1st 219,000

2nd 58,000 both at 5.3% =277,000  property needs 20,000 of repairs

ARV IS 310,000 she's willing to bring some money to the table to get out of property, she's coming out of pocket $125.00 a month to keep up with the mortgage It's renting for 1800 and has an In-law that's not legal renting for $800 a month. I don't see a deal here , not sure what my option's are? owner finance or lease option maybe? Not sure I want to be a landlord? and the In-law is an issue with the way she has it set up, already talked to the town and got the detail's on how to make conform to there standards . I don't want to suggest a short sale . Any ideas would help. probably not a good deal but I figured I'd put it out there ?

Thanks in advance 

@Derek McCreight 

Nice job, I've sent out about 500 in the past 2 weeks . Starting to get about 2 to 3 calls a day . I looked at one today and have an appointment for one next week.. The phone's ringing with mostly people interested in what I'm all about, so hopefully the motivated sellers start calling!! Taking action is key to getting deals. What's wrong with an empty lot? I see opportunity in empty lots. It's what I looked at today.

HAVE FUN INVESTING!!!

@Michael Quarles thanks for the post,

Paul, I targeted absentee owners who have owned property for 20 plus years, I'm working with a seasoned wholesaler who helped me build my criteria. So I feel pretty confident with my list. I had a couple other criteria in my search too. I just purchased the HP 8620 E all in one printer so I don't have to hand write them, I figured out how to do a mail merge using excel and word so I'm going to be A lot more productive in my marketing.

 Richelle and Dusty thanks for support

So I sent out my first mailing about 250 letters, hand written, and got my first call today!! I was nervous and excited at the same time. Very nice lady, it was the first time she had ever received a yellow letter and basicly curious about what exactly I was doing, which was fine. Her and her husband were expecting a market price for there property, and really had no reason to sell. But the name of the game is to get the phone to ring, after 250 letters, 4 days later my phone was ringing. I love what I'm doing with RE right now, so looking forward to that next call. So my advice to the newbies just starting out, take action, try to stop reading this amazing site for a few and take action!! Happy investing

@Rick Harmon, so are you suggesting I should be asking better questions?  I did knock on the door, talked to a neighbor, and got the lead from a mailman, thanks for the previous posts

I started marketing to absentee owners this past week. Check out list source for leads .. Also check out yellow letters in the search box. Its not cheap to market but I set a monthly budget for 6 months and I'm working with a wholesaler who's averaging 1 wholesale a month!!! I'm planning on my cash buyer putting the cash into escrow and purchase the property with his money minus my fee. So there's no need for transactional funding.. 

Have fun and be passionate about real estate

Chris...

thanks for the help great advice @Jenny Y.  @Tom McLemore

So I've really hit the driving for dollars hard this week and was wondering how often I should try and contact a potential lead? This specific property is occupied by the son, his dad passed away (according to the neighbor)  who I gave a card too. I also left my card and a letter in the son's mailbox, How long would you wait before you went back to the property to try and make contact?

thanks for the help