All Forum Posts by: Robert Rainey

Nick, this is NOT an "Off Market" deal. It is a home that my team put under contract for us to flip. We have other properties that we are working on and would rather sale this one off, as it was slow to acquire, and we picked up others. If no one else wants it then we will flip it. Not sure what the difference is your trying to point out though. What you stated is public knowledge and a quick google of the address(which I posted, not hiding anything) would reveal its listed on several sites. However, you can not buy it, because I have it under contract and I am buying it. 

Home is located in the very high demand area in North Miami, Fl. of Griffing Park Estates. Minutes from Aventura shopping and beautiful parks in walking distance. Walking distance to NE 125 st shops , restaurants and bars. Homes is in good condition but needs complete updating to be comparable to homes selling for $400k. 

Hey,

Guys well I got my list out. I focused on Florida Preforclosure owners and Pre-Foreclosures/Absentee Owners. Its been about a month now and out of the 508 letters that went out I got 4 call backs. I ended up using a company that did the entire campaign for me. They use these 5x8 yellow legal pads with a hand written font and a small envelope also hand written.  I thought  I would get more call backs than I did to be honest. Every person I mailed to was if nothing else in Pre-Foreclosure. But, the people who called said they were hammered with letters and postcards. Im getting a good open rate Im guessing but with so many people doing this in my area, I guess the owners are finding it a waste of time to even call, which is probably fueled by the other complaint I got  which was no investors or brokers, Im a rehabber so I can pay more than a wholesaler but the wholesalers are hammering people with low offers. Has anyone encountered this before, and what were some of the solutions?

 I was going to try to keep things personal and less business like. When you say create a brand your referring to sending the same letter every time and not changing it correct? So people become familiar with me.

Also I purchased from List Source, so I'm assuming their list is reliable. Is that what you mean?

Russ that is good to know. I either flip or hold in Charleston but now that I plan to get my own deals Im sure Ill have more than I want. Thanks for the heads up. I have your contact info saved.

Thanks Lance, that makes sense so I dont waste money on returned addresses. I was looking at doing both but I just ran the numbers and I can actually afford to do letters for the next 6 months consistently. I can do this because instead of buying online I called Listsource and created an account with them and got a discount of almost 1/2 off because of the amount of money I put down. This allowed me to re allocate my monthly funds. So know Im wondering if its worth it to send all letters to a smaller list or if i should mix letters and postcards and attack a larger list.

My thoughts on repeats were to reach out to everyone that called but wasnt motivated every 3 months(4x a year) and attack a new list + plus follow ups every month. But, you are hitting the same list once a month. How is that working for you, do you have any results yet?

Morning BP, Ive been investing(Flipping and Landlording) full time since 2011 but I skipped wholesaling and jumped right into rehabbing because deals were every where. Now I see I skipped a vital step because I dont know how to find deals now. So Im looking to launch a DM campaign in both South Florida and Charleston, SC. 

My question is Im probably going to do a split test between postcards and letters but Im wondering what kinds or results are you guys getting in these markets from each method. 

Hi guys. Im in the Charlston, SC area and I have been flipping full time for 2 years now. However this is my first house Ive caught in Pre-Foreclosure and the seller just simply wants out The papers were filled with the city last month, I know I need a payoff from the bank but she wants me to do everything. How can I go about getting the bank and attorney to allow me to speak on her behalf??

On a less discouraging note. Im in South Carolina and I could get that built with all the luxury items you stated for 200-300K depending on how crazy you got with the custom hand built stuff. What Tom is saying is that it takes experience with contractors if your not one yourself because they can be tricky as the good ones have lots of years of experience and know their way around a contract and know when they are talking to someone less experienced. So its best to start small and make mistakes that you can recover from because if you end up upside down or over leveraged in a half million $$ deal it can be career ending without the money and experience to get out from under it.