All Forum Posts by: Robert Burns

A friend of mine recently inherited $100,000 and wants to invest in real estate and asked me my opinion.  I thought what better place to get advice is from the Bigger Pockets community.

So if you had $100,000 in cash where and how would you invest in real estate?

Thanks in advance!

Just curious what the Bigger Pockets community currently thinks about Driving for Dollars for finding properties for wholesale deals?

My son and I have been working hard to find wholesale properties so we can assign the contract to cash buyers.  We have had some success but very sporadic.  We have tried various marketing methods and our focus has been on Direct Mail and SMS texting.

However even though we are getting some calls, all the properties are not stressed or needing work so we can get a low enough price to be able to wholesale.

So we are starting to believe the best way to increase our success in finding wholesale is "driving for $'s where you obviously find distressed properties because you are literally looking at them and then we can focus our time and effort on finding the owners. 

Just ran my 1st REIPrintMail campaign and mailed out 1300 check offer letters.  The campaign went out 8 days ago and so far we've only gotten 5 calls and none of them viable wholesaling prospects.  Most of the calls we property owners telling me my check amount was well below what they would sell their property if they were interested in selling which they weren't.

We are disappointed and don't know which way to go with our Direct Mail marketing!

Any feedback/suggestions would be welcome!

Just wanted to get some feedback on the effectiveness of using the Ready Offer Check letter as a Direct Mail piece.  In particular what has been anyone's experience with using what percentage of the property value as the check amount.  For instance using  65%, 70% or 75%.  Does one work better than the other.

Thanks in advance of the feedback!

I just called the owner of a property who said he wants to sell it and it is under a contract (not sure if it's with a realtor or a wholesaler) but he's unhappy with how things are going.  He told me they should have closed a while back and they just give him excuses.

He wants me to come over and look at the house and look at the contract if I want to.

Should I go over there or just stay away and tell him when he is no longer under a contract to call me?

What's the general opinion of BP members about the viability of Smarter Contact SMS marketing?

Anyone have any experience with Alex Youngblood's Encore REI program?

Thanks in advance! Bob

Any recommendations for an investor friendly title company in Spring, TX.  I need a title company that does plenty of assignments of contracts deals.

Thanks in advance!

Bob Burns

I'm working on a lead that just came in for a really nice flip that's nearly finished ($20,000 left in repairs max) from a seller who just wants to sell AS IS so he can move on to another fix and flip.

Does the ARV x 70% - repairs - Wholesale fee = MOA or does is it adjusted due to the lower repair cost?