All Forum Posts by: Phillip Trujillo

@Amy A. Martha Stewart? haha.

Oddly enough, I was in CA recently and a family friend who's also an investor manages many Family Dollar locations. He said the company is doing "well", but is shutting many locations to target hotter markets for them.... One of the stores he manages is fairly new (Northern CA based) so maybe they're just jumping ship in certain markets.

@Samson Kay Are you using your home address as the return address on your mailings?

I used my home address as the return on my last mailing and then was advised not to for reasons like this. I believe you can still get an address that appears to be a home address from a Mailboxes etc. type place.

@Rich Wahl - Update: 2 Properties under contract.

3/2, 1,890sq/ft, ARV is $78k, $29k in (est.) repairs, under contract for $20,500.

2/1, 800sq/ft, ARV is $35k, $8k in (est.) repairs, under contract for $14,000.

I got both properties under contract on Monday. I've had 5-7 local investors interested in the 3/2, but only 1 bite on the 2/1 so far. I know 2/1's aren't prime, but they rent to sec. 8 here for $650+ so the ROI for a B&H investor is through the roof. I'm going to begin marketing them a bit stronger today and perhaps bring the price down a bit on both. Asking $25,600 & $16,500 respectively.

@Scotty Hamill - Thank you Sir and will do!

@Aaron N. - Thanks! Listsource was a very easy to use and great tool for my given parameters (and most people's i'd imagine). I also recently found a way to market to cash buyers using listsource which I may utilize in the future.

My marketing campaign has generated some leads from motivated sellers having property that's occupied, free & clear, and fully rehabbed or requires little to no repair.

I would normally follow the 70% - Repairs for deals/marketing to a rehabber, but since these properties aren't in need of repair do I need to ensure they just meet the 2% rule (or better) for Buy & hold folks and negotiate some meat into the deal for myself?

Example: Property worth $108k retail being offered at $50k cash, fully rehabbed and has tenants in place @ $1k/mo.

What would you do in the above situation?

@Anthony Cecchini I think this is an AMAZING idea and the light bulb on this exact topic just went off for me yesterday.

I'm new to my local market and made a post in a "yard sale" group (5k+ members) yesterday about finding an investor friendly RE attorney.... I was shocked when not only did I have multiple people point me in the right direction, but I also had local investors private message me hungry for deals! As a wholesaler, it's like the best possible scenario! Best of luck in the future buddy!

Phil

@John Voirol I'm not sure why it didn't tag you..... See above. Thanks!

@Dan Holden I use my personal number and am 100% transparent with them. I'm active duty USAF and live near a base so when I explain that to them (building rapport) they should understand. However, I've not had one person ask me about the number difference yet.

@John Voirol I sent out the standard Yellow Letter from yellowletters.com. They "shotgunned" out, but that wasn't my intention. I wanted to do 100 letters a week over a month so to not miss any leads, but had forgotten to put those directions in my order. Learning curve.

Spoke with 5 sellers yesterday, have return phone calls/offers due today on two of them. Off to the local RE attorney to have my contracts vetted for local use. Exciting!

Update: I've received 47 voicemails from my mailing. All but one is interested in selling (I'm using a google voice number with local area code).

The majority of the calls started coming in last Wednesday afternoon, but I've been out of town due to a death in the family until today. I'm going to begin returning calls this morning and will post later tonight about how the calls went. There's TONS of potential here so I am super excited!

Phil