All Forum Posts by: Roy Oliphant

@William Corcoran

First, congratulations on doing a whole lot of the right things!  I'm sure you will find success so long as you keep at it.

You mentioned you had about 80 letters ready to go out.  Most of the marketers talk about response rates in the 1% range.  Statistically you haven't sent enough to get 1 response yet.  Don't let that discourage you.  Send them again; both to the same lists (correcting for the returned addresses, etc.) and to as many new as you can find/afford. 

Consistency of effort is a requirement.  I've had lucky lists that had very high responses full of mediocre deals.  But you have to do it regularly to find the true gems.

Good hunting! 

Not enough.  If you have too many, I'd be happy to talk about taking some of them  ;-)

@Jennifer Streamer

Austin is a pretty hot market.  Summer rental can be affected due to the university schedule but long term properties are in short supply as over 1000 people move to Austin every week.  Owners may be reluctant to pre-lease as they don't know how much the market will move up in the interim.  Hot markets may also be scam friendly so try to make sure who you are dealing with.

Good luck!

Anyone in Anniston AL that can take some pics of a couple of properties?

Thanks!

I talked with the folks in Montgomery and they said it may be over a year.  My experience is anywhere from 4 weeks to 6 months but I still have several application open longer that I do not yet have responses on.

@Anastasia Jordan

Birmingham seems to have may properties that meet the BP rules (2% etc).  Being from DFW, that seems a strange situation.  Does anyone know why Birmingham works so well?

@Dan Sokol

How big is the micro market?  If you can show enough of a market to be profitable, someone will find a fill to supply it. 

@Glen Mauldin

Welcome!  Your land man experience may be very valuable when doing property research. Not to mention the negotiating skills.  What strategies are you thinking of?

Good Hunting!

Fixer Upper is a unique show in that they operate in a small community and have been in that community for many years.  They do show what is possible with major rehab dollars and are pretty fair with the actual costs (again market specific).  Still it is probably more relevant to most markets than Flip or Flop where the California market makes everything a win as long you overspend, take too long and have really pretty furniture when you do the open house;)

Just trying to understand: You contracted to but a house from HUD and you are unable to fulfill your end of the sale unless you sell it to someone else before closing?