All Forum Posts by: Nadia White

@Jean Bolger

 Hahaha! Nice to meet you! Actually, I am new on BP and found that I'm more addicted to it than I am to FB, since the topics are more interesting to me, of course. 

I'm wondering if there is a cure to this addiction. lol

Good business to you!

Not to mention, @AK Fowler, that negotiating a fee with your buyer can be misconstrued as a realtor fee and that is illegal in most, if not all states.

You cannot market a property in which you have no equitable interest, if you are not a realtor. 

I agree with @Lucas P., I also leave the whosaler part out of the conversation. At least in the beginning. It's one thing to be honest and transparent (which of course you have to be), but it's another to jeopardize your contracts by talking the people out of it. 

If there is a lesson I have learned in REI it is that you cannot trust all the people you are working with. I used to be a very trusting person and went by "gut feeling" that people wouldn't pull a fast on me.

That has changed over time. 

One example (true life, happened to us): we sign a contract with a seller to buy their house of $X. Those people are in their 70's, nice, well established people. They are happy to get rid of the house because it belonged to Mom who has been in a nursing home for 12 years and passed away a few months ago. For all those 12 years, they took are of the house and it was a burden. They make that abundantly clear to us.

We flip the contract to a real estate investor (who is known in the county and owns 15 houses). After negotiation, we agree on a price and on a closing date. We also agree that, since he doesn't care who does the closing, we would use our attorney, who can close in less than 5 days. We get proof of funds and start the process.

The very next day, we get a phone call from his attorney telling us that he takes care of the closing. First hiccup, but we didn't think too much of it, eager to please him and get to business.

Th day before the closing has to take place, we get informed by the attorneys that the closing is postponed because our buyer (to whom we had assigned the contract) contacted the sellers and tried to negotiate with them, behind our back.

Fortunately, we had filed a Memorandum of Affidavit and in doing so we clouded the title. 

My point in telling you this story is that, no matter how you trust people, how good your gut feeling is, never deviate from your business principles. Make it a policy to protect your business in any way you can. It's worth it. You are working for it!

I wish you good business out there! :)

Geographic areas, @Zach Adams? 

Located in Marshville, NC, 8 min from the Wingate University, we offer a fourplex fully rented already. No rehabs, the property is in excellent condition.

All units are 2 beds/ 1 bath

2 units are rented for $475 and the 2 other ones are rented for $500. (which is below market and gives room for value play). Just to tell you the stability of the tenants: 2 units have been rented to the same 2 tenants for more than 12 years.

Price $143,000. 

http://www.bastioninvestmentgroup.com/properties

Thanks, Glen. I'm working on those and will keep you updated

This is a very interesting tread and I would like to share something that many people unfortunately forget: to be successful in any type of marketing, you need to be a little different and persistent. 

We also have seen our response rates drop dramatically because everyone and his brother are using DM. Not only is everyone doing it, everyone is using the same wording and the same type of letter, because they blindly follow "gurus". 

There is nothing wrong with being yourself in your letters. It makes you different. Many times, we have phone calls of people telling us that they wanted to talk to us because our letter is different from the dozens of other letters they receive. One person even said that her attorney told her that she could go ahead and call us because we are "real people" LOL.

It is also a lot of work. I insist on having a handwritten signature on each letter, a handwritten address on each envelope, a real specialty stamp etc. Of course we outsource that, otherwise we would spend our days writing envelopes. You'll find tons of moms or retirees who want to make a few bucks from home.

That was for the "different" in your DM marketing.

Now let's go to the "persistent". Here is a picture that is worth a thousand words. You'll understand immediately

Now, even if you think that you are buying houses, think twice: you are a sales person! You have to sell the idea to the owner that they have to sell their house to you. 

Our profession has become tougher with all the competition, but it's so much fun!

I'm looking to network and create relationships with investors of multi-family properties in NC and SC.

I would like to know your needs and your investment criteria. The better we know what you want, the better we can serve you.

Looking forward to getting to know you!

If you want to "graduate" from SFH to multi-family and do it gradually, this is a great deal for you!

All units are 2 bed/1 bath.

Ideal for investor who wants to progress to multi-family rentals.

Renovated.

Two units are rented for $475/month

Two other units are rented for $500/month.

$1,950/month gross income which makes this property a 9% net cap rate.

Since it is very close to the Wingate University (8 minutes), these units can be rented by the room to students. In that case, the rent per unit will climb to $600/month which brings the cap rate over 11% net.

To receive the Executive Summary and see pictures, please visit:

www.college-street.com

@Daniel Sisto: it's kind of tricky to find phone numbers nowadays. With cell phones and privacy, nobody lists their cell phone anymore. You can use 411.com but you'll have limited success. There is also beenverified.com, but once again, they won't always find the right phone number. 

Even we, as skip tracers, using all kinds of sophisticated methods don't always find the phone number. 

Here is a question for you: how do you find your vacant houses? Do you do drive-bys? If so, a great way to find the people is to knock on the doors of the neighbors. They may know more than you think. We have found quite a few owners like that. I know, it is hard work, but nobody ever said that becoming rich was a walk in the park, right? :)

I wish you lots of success!