All Forum Posts by: Roc P.

I'll guess that your 1.5 month timeframe was from when you got it under contract until your end buyer closed, which doesn't seem that unreasonable since you said it took 2 weeks to get the end buyer contract.

A month for the end guy to close sounds a little long, but since it also took him 2 weeks to sign the contract my guess he isn't a big outfit so probably needed a little more time to get all the pieces in place.

(Just my hypothesis to @Joshua Dorkin 's question)

Shawn has hit the nail on the head with regards to everything. It took a little longer too because I thought I was going to buy the property. Also we had to complete probable, which basically took a week and then the settlement company had to wait on the city to forward all the info. All in all in good experience.

Someone asked if I'm I going to you use some of the money I received for marketting, absolutely 100%! I'm working on a list as we speak to to start direct mail campaigns. Thanks Roc

1 Vote

Hello everyone, first off I wanted to thank forum for the help that I received. This forum is a powerful tool.

With going into too much detail, I'm a buy and hold investor, basically a deal fell on my lap from a lead that one of my tenants gave me.

I was going to rehab the unit, and rent it out, but then decided I didn't want to take on a major rehab at the time so I figured I would try my hand at wholesaling.

Posted the property on Craigslist, got contacted by a person, who stated he was interested. 2 weeks later we signed the contract, and we just closed last week. Learned alot in process regarding the paperwork involved as well as probable through the process. All in all it took about approx. 1.5 months from beginning to finish. Helped the seller and was able to make a healthy profit, so a win-win.

Know that I have my feet wet, I have a second deal in the hopper! I'll keep everyone posted. Roc

1 Vote

Originally posted by Chris Feltus:

@Roc P. Stop what you're doing and read this thread http://www.biggerpockets.com/forums/311/topics/98459-using-bandit-signs

I highly suggest you reconsider using bandit signs as a marketing tool. There are PLENTY of other legal avenues for finding properties. Besides you will get a bunch of tire kickers off bandit signs that will waste your time. Wouldnt your rather have leads that are motivated, with equity and targeted. You can do so by driving for dollars. I wrote an indepth blog post on the BP blog that details the process from step A to Z. Using the method I outlined in the post, some campaigns I have response rates over 70%. Give it a try. It doesn't cost you anything but time and gas money, and its legal.

http://www.biggerpockets.com/renewsblog/2013/05/10/driving-for-dollars-tracking-owners/

Thanks Chris!

0 Votes

Thanks guys, I actually have a google # that I use for rentals, so I don't want to cross the numbers.

0 Votes

Hello everyone, I'm doing my first bandit sign campaign, and I'm trying to gain insight on what type of phone number I should use for the contact.

Should I go with a virtual number, I.E. grasshopper, or should I get a "throw away" phone ala Walmart.

The good thing with a virtual number is the features and its usually 10 a month. However a pay as you go number is nice because, of the simplicity involved. Thanks Roc

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Something I forgot to add, if the tenants are paying for oil, and its time to pay for oil or rent guess who is getting beat. Roc

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Brad, I would avoid oil heat, go with natural gas or at least electric baseboard heat. Roc

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It should be really good, hopefully I'll be able to make it out there.

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I try to never show a unit that is not occupied and\or cleaned out, obviously there are exterior factors so sometimes you have to bend the "rules".

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Amazing info! Thanks Rocco

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All Forum Posts by: Roc P.

Roc P. has started 67 posts and replied 262 times.

Post: 1st wholesale deal done

Post: 1st wholesale deal done

Post: Phone number question for bandit signs

Post: Phone number question for bandit signs

Post: Phone number question for bandit signs

Post: Multi-family Oil Heat and Hot Water

Post: Multi-family Oil Heat and Hot Water

Post: Philadelphia BP'er going to first DIG meeting, anybody want to come?

Post: Craigslist Experiment - Old dog trying new tricks...

Post: Finding motivated sellers (my list)