All Forum Posts by: Rich Urban

ha...I used "Dingaling" as well..upon spot checking them, I found that they were pretty bad. Often, they pronounced the name of the company wrong..:)

I don't think putting "JUST A WEBSITE" is too good of an idea. As with any marketing tactic, you can test it but most motivated sellers want to talk to someone right away.

I'll be honest, you personally answering the phone is the best case scenario. Maybe you could train a friend or someone off Craigslist to field the calls and "Prep" them before they speak with you. You could pay them a small percentage of each deal.

Not too long ago, I started using "GotVmail" and that's somewhat of a virtual answering machine. You can set it up to ring your phone at times when you're available & direct them to your messages when you do not want to receive calls. You can have them Press 1 if they're in foreclosure, and they could listen to you talk about what you can do for them in foreclosure...2 for junk properties....3 to buy properties...etc...etc..It's good because it also tracks all incoming calls even if they hang up, at least that way you'll have their phone numbers to call them back.

Since you're on a tight budget...

1. I'd say to go buy yourself 100 of the large blank signs from
supercheapsigns dot com & go to Home Depot to grab a bundle of wood stakes. Take the blank signs and cut them in half & then write your message on their with a big magic marker. I've had more results with the hand written one's lately. I'm thinking it's because EVERYONE in my area uses the preprinted bandit signs...it stands out

2. Primo_Coach has the right idea...when I started out, I had less money than you have to work with, and door knocking is what allowed me to jump into this thing. Go to the court house and look up the current foreclosures. You want "Final Judgments" that have 45 days or less. You can work the Lis Pendens, but these people aren't as motivated as the the one's that have been served a final judgment. Obviously, you want one's that have a good chunk of equity so don't mess with any houses that were refinanced or purchased in the last few years.

3. Definitely make up business cards, this can be done very cheap online, just Google it. I think overnightprints dot com does pretty good stuff

4. I would spend the rest of your money on mailings. I've had best results with "Absentee Owners". Visit your property appraisor's website and see if it allows you to search for non-owner occupants. If not, you'll have to pay for a service that does this for you. You could also go into the rougher areas looking for abandoned properties...write down the address and send them personalized letters.

I'd say Efdevelopment has the right idea here...not something the average "Fix & Flip" guy should get into. Me personally, I'd rather poke myself in the eye with a toothpick than get involved with CMO'S! :)

First off, "Other Investors" are irrelevant because you're going to be the one that closes the deal. For me, I like to be the first one to the house....I try to find out if she's meeting with other investors and what time, then I make sure that I'm scheduled in to be first....

A few things I would do:

1. Do research on the property and make sure you know the neighborhood comps. Print up the lowest comps that you can find...bring them with you. Print up the property appraisor's sheet on the property that you are visiting. You will look prepared and efficient.

2. Build rapport before you start even talking about the house.

3. Emphasize how you get things done quickly and easily. You're the best home buyer in your area. Let her know that she can have confidence that you'll handle everything right away and correctly. Your offer is really the best deal for her..she may get slightly higher, but they're not experts like you are.

4. If she balks at your offer, be sure to whip out those old comps and say..."I know Ms. Seller...I thought that I could pay more than that too...I really wish I could...EXCEPT...whoever bought 101 Maple Street really screwed it up for all of us. He paid so little that he brought down everyone's property value. John Doe at 202 Maple Street did the same thing..." You get the idea..make sure that you're on her team working against a greater evil. In this case the NEIGHBORS that forced you to offer such a low price....:)

5. Don't leave her with a copy of your contract EVER!!! If you leave her with an unsigned contract, she'll shop that bad boy around town so fast and every other shark will have a copy of your contract. You'll be used for leverage and you don't want that. You want to be the guy that gets the deal. I personally don't leave without a signed contract....but if you're not as ballsy as I am, you could always tell her to speak with the others and give her the courtesy of a call before she signs with anyone.

6. Make sure that you put "AND/OR Assigns" on your contract so that you can flip that contract to another investor.

Best of luck...and CLOSE THAT DEAL!!!

Vacant houses are my FAVORITE DEALS for quick turnaround flips. You're talking to someone that cares so little about the property that it's just sitting vacant. I think that these are the best deals for newbies too...they require no money out of pocket and they're easy to find. Gas up the car and Start Driving For Dollars..:) A good part of the time, these properites will have REALLY SCREWED UP TITLES, so make sure that you do a legit closing at a title company and get title insurance to protect yourself or your assignee (end buyer).

Finding the owners can be quite entertaining as well. It takes some good detective work and some time. In the end, it's usually well worth it. Before you go through any serious trouble searching, it's probably best to run a quick check on the property appraisor records to see when the house was purchased and how much they paid. You want to see if there's a good amount of equity.

Here's The Process Chart That I Use When I'm Looking For Owners:

1. Place A Flier in the door stating that you buy houses in any condition & stick one of your "I Buy Houses" bandit signs right in the front yard.

2. Ask The Neighbors....Not Just immediate neighbors. I always go Four houses out on each side and across the street. You should be able to get bits and pieces of information from each person. Don't be afraid to ask questions..Leave your card and offer money (if you buy the property) for any information that they may "remember" after you leave...Ask & You Shall Receive!

3. I go to whitepages dot com or call 411...No reason to go nuts searching through court records if it pops up there.

4. Visit your local Tax Assessor's Office. Check the "Mailing Address" to see where the tax statements are headed. ALSO, I ALWAYS run that person's name to see if they own other property in hopes that there are more abandoned junkers that we can cut a deal on. Sometimes a new mailing address will be on other properties as well.

5. Run the name through the clerks office and look at all the recorded docs and court indexes for that person. You can often get a good picture of what's going on, and sometimes even some other addresses or addresses of relatives, etc. This is where your detective skills kick in. You want to scour through and see if you can find anything...divorce filings, new loans, leins, Law Suits. If their salary is being garnished, the employer's name and address will be their for you. . Many times you'll see that the individual is in jail or just got out of jail. You can usually find their attorney or a new address off of the arrest info. If they're in jail, you can call the prison and set up a visit with the inmate.

6. Send out a letter and put "Address Service Requested" on the envelope. The letter should be personalized - I noticed your house at "X,Y,Z and I purchase houses in your area.....etc..etc" Make sure that it's hand written and regular stamp.

7. Skip Tracer: I usually use "FINDTHESELLER dot COM" because they're pretty inexpensive and they're pretty good at finding people that I can't with very limited info. It usually takes 24 - 48 hours to get a match but you can be trying the other methods while you're waiting.

8. If it's a unique last name, I'll start calling everyone in the phone book within the area...hoping to get a relative. I've been surprisingly successful with this "Shot Gun" approach. If the name is something like, "Johnson" or "Jones"...I wouldn't even attempt it..:)

9. Voter Registry - You can get updated addresses

10. Place the lead in my file in case another clue arises in the near future (Property goes into foreclosure, neighbors call you, someone calls on the sign, etc)