All Forum Posts by: Ricardo Murph II

Direct mail works but is costly with a low response rate.  It can be as low .5-1% especially with the popular list like Absentee owner. It is a numbers game. Getting your mail piece in the hands of person the moment they think about selling. If you do get a call they will tell you they get letters/cards all the time. Some think all all mail comes from one person/company. Most absent owners are tire kickers. They call, just being curious about what they can get.  

DFD takes time.  Once you get the properties they you have to skip trace and get the numbers. You can do it yourself or pay for the service. Then just call the number. 

I have never bought a list. I see the post on BP for a list for sale. I think it is a waste since an untold amount of people get this list at the same time and mail at the same time. I can only imagine the low response rate.  A lot of what is being sold you can get for free anyway, they just did they work and are selling you convenience. 

@Justin Urich and @Gwen FyfeNew owners are are getting mail either from the franchise owner wholesalers (ugly houses guys) and others who spend a boat load on marketing or newbies that didn't scrub their list and only selected absentee owners. 

I have heard great things about cold calling but having a 9-5 limits call volume. All marketing is a numbers game. 

You can try calling FSBO and for rent. You can get a free email from zillow on that. There are apps that will give you automated notifications on Craigslist as well.

If you dont know there are a lot a deals on Facebook.  Search "target city" wholesale(rs) or investors or buy sell trade to start. 

If marketing doesn't appeal to you then getting on a wholesaler's mailing list is free. Just remember not all off market deals are good or fit your goals.  You need to do your due diligence. 

@Christopher Markey  I am a wholesaler/ investor focused on the west side. Shoot me a PM and let me know what you are looking for. 

@George Evans SDRA is a great option. If you want to profit from the money now you can do the rollover.  Many employer plans allow you to take out a loan of 50% of the vested value up to $50K. The interest you pay is to yourself and you can profit now from investing. You just have to research what your employer plan offers.  

https://www.angeloakprimebridge.com/ is a commercial lender.  i haven't used them yet but they did pop up in a BP search. 

Do you need a commercial lender because of the LLC?

Welcome Ryan,  I am a westside wholesaler/ investor. Send me a message and let me know what you are looking for. 

I came across a company https://www.angeloakprimebridge.com who says they will refinance right way.  I didn't dig enough to get rates. There is a recent thread from ATL for investors that like them. 

@Marco Campos I sent you a message

I don't understand your math. For the first deal 67.5K with 10% down payments amortized over 30 years would be a loan of $60.75K with payments of $384 per month to you with a 6 year balloon payment.  I believe you are using a loan calculator with 6 year term instead of a mortgage calculator with a 30 year amortization table. 

Most investors want cash flow now, not ownership in 6 years. 

The question you should be asking is what is the best return on your equity factoring risk. You could sell, cash out refi or HELOC , etc. and keep the money moving into new properties. If you want to be a hard money lender then sell and start lending.

I am not flipper but Ohio City is hot and people have been getting great returns on these old properties. The transfers do seen fishy to me especially with the drop in value.  

I would call the owners of the business of the previews two transactions.   They may have found some major issues and figured it wasn't worth it. Find the business owners by searching https://businesssearch.sos.state.oh.us/ You can skip trace the owner or whitepages to get the number.