All Forum Posts by: Nate Pummel

@Ben Valentin, I know some investors rely primarily on driving for dollars for they're entire marketing efforts.  Depending on your location the mass lists that you purchase could potentially be very saturated.  What's more valuable, a property you can see yourself, where you can be the first to contact, that you can put more resources into?  Or a list that you can't confirm, that everyone else has, where you are most likely going to put resources into that won't return anything?

From a time standpoint buying the mass list and hoping for the best is probably your best bet but in terms of value, I think driving for dollars is the way to go.

I think the scalable part is tricky, but as you get more successful you can hire someone to drive for you (if you can trust their judgement) and their are new systems to help automate driving for dollars which should free up some time.

Are you a street level investor looking for a competitive advantage? Do you love driving for dollars but don't like how much time it takes?  Have you always wanted to create your own software product to automate the driving for dollars process?

I've got good news.  This is now all possible.

Go Driving for Dollars has been created (www.godrivingfordollars.com)- and it automates the driving for dollars process so you can be first in contact with potential sellers.  Stop losing out to your competition and get the advantage that you've been waiting for.

We at Go Driving for Dollars have a unique opportunity for those who want to get in on the ground floor of an amazing product - not to mention grand fathered pricing for life no matter how the product changes.  We are looking for 100 users to sign up by August 1st.  The first 100 who are able to sign up to the following terms: http://bit.ly/BPfirst100 - will get discounted pricing for life but will also get to help steer the product and where it goes.  

Are you a wholesaler who would love to find deals and with the press of button be able to email your distribution with a professional marketing packet? - Sign up and let's make it happen.

Do you wish you could have automated direct mail marketing?   Sign up and tell me how you would like it to work.

This product is already amazing, and we are currently developing some new amazing features, but to take it to the next level I want to open it up to this amazing community and see if we can make something special!!  But I need YOU!

If you're ready to sign up and take it for a spin with a free trial click here: http://bit.ly/GoD4DSignUp1

Don't forget the app:

iOS: https://itunes.apple.com/us/app/god4d/id1221557363...

Android: https://play.google.com/store/apps/details?id=god4...

Please reach out if you have any questions.

Thanks for reading!

Nate

PS: Check out the testimonial from a regular on the BP Podcast @Erik Stark

"I have made a small fortune investing in real estate at a street level. For years I spent countless hours driving neighborhoods, researching public records, copy and pasting names and mailing addresses to excel so I could have an edge on my market place.

This app has truly given me hundreds of hours of my time back and armed us with a deadly combination of finding opportunity first and minimizing the time required to be the first contact with the seller.

Part of me rejoices that there is now a streamlined process that old school guys like me can utilize. Part of me is concerned that now that this such a simple process, people will finally be able to do the light lifting to gain a heavy edge on their markets competition for properties.

Nate, you and your team are geniuses for collectively putting this together and filling it with a ton of bonus features that make Driving for Dollars fun again and for giving me my time back which is the greatest asset we all have.

Thanks a million. Literally

Erik Stark"

Braden Smith I couldn't find anything that was simple enough so I started to create my own. If you're interested PM me and we can chat!

Thank you @John Leavelle! I appreciate the feedback. To fill in some of the details, I am pre-qualified by multiple lenders. I'm using the HELOC for the purchase and rehab. I guess I was more interested in what criteria constitutes a good deal...should I be more concerned with getting 100% of my cash back or in the after refi cash flow number? (I'm considering my cash flow number to be all in, mortgage, capex, everything). Is your 70% number based on the bank? The banks I have are at 75% and one is at 80%. I think the rule I am going to set for myself is 100% of my capital back with $100/mnth all in cash flow. If my cash flow is higher than that I might consider a sliding scale of my refi capital back...so $150/mnth maybe I'm okay with 97% of my capital back (I'll calculate that later). I appreciate everyone's input!

Thank you @Bryan O. and @John Leavelle! I was using CAP rate just as a basis for comparison so I could do an apples to apples.

So I guess I'm really wondering, after the refi, how do I balance the cash flow and any cash balance I didn't get back?  If I get all my cash back and make $20/month in CF is that better then having $4,000 cash in the deal but I'm making $120/month in CF.  What is your CF requirement if you get 100% of your cash back?

Hi everyone! I'm looking for some guidance regarding how to truly evaluate a BRRRR deal. I have a deal I'm evaluating that is an 11% CAP, $260/month cash flow with a cash outlay of $15k before I refinance. I plan to delayed finance so my outstanding balance is the $15k for rehab. If I refinance at 80% LTV my CAP rate drops to 6.8%, cash flow drops to $75 to $100 per month, and I'll get most of my cash back out, probably have between $1000 - $4000 stuck in the property. One other item to note, my cash is coming from a HELOC so if I have an outstanding cash balance it's essentially a second loan. So now for the question, when I BRRRR am I just trying to stay cash flow positive? Should I be looking to get 100% of my cash back?

Hi all,

I'm an investor in Denver looking to purchase property in Indy through a turnkey provider.  I'm looking for a couple of people to connect with (investor and agent) that I can run the properties by to get local knowledge that I just don't have.  I think most turnkey providers say they only sell in quality neighborhoods but I would love to confirm this by a third party.  Any help is greatly appreciated.

Nate

@Chris Billington I'd love to hear how your turnkey goes. I'm looking to do the same thing in the next month or two and would love to hear what you've learned, what provider you used, etc.

Thanks @Steve Vaughan!  I'll check it out.

I appreciate the offer @Cheryl Packham!  I actually went back to Mint.  The Mint app isn't perfect but it does real time transaction tracking which I like and it attempts to monitor your net worth.  It actually has a feature that I didn't know it had - you can plug in your address of your properties and it will pull in the Zillow information.

PS - Sorry for the late response.  I actually hit enter and not 'Post Reply'.

@Micki M. My aunt is the one ultimately making the decision to sell, so I guess my aunt is ready to oust him.  Honestly, I don't know how sensitive the family will be on the issue.  I think it could go either way.  I think if I could present a win/win financial decision for my grandma they would be open to it.  I think the family is viewing the sale and cleanup of the property as a huge burden which is why I think there may be an opportunity.  I appreciate your feedback!

I really appreciate everyone's feedback!  That's what makes this community so great, I can ask a pretty random question and I have several people who are willing to help.  I'm truly great full.  I know this is a sticky situation and I do plan to tread lightly.  Ultimately, I want to make sure my grandma is taken care of first.