All Forum Posts by: Robert J.

@Adam Tafel

It was super easy. I literally clicked two buttons and my lender was like “ yep we cancelled your payment for 90 days and applied it to the back end” I have to do this with the military and my student loans and forbearance if granted doesn’t hurt you.

@Hunter Phillips

Sorry to say bud but we aren’t going to see price declines like 2008. Lending practices were still very stringent and most people who own a home now have equity and an ability to ride this out. Renters are going to be hardest hit.

Inventory is low every where and this might s swing to a buyers market but that means maybe 5% off quality improved properties and slightly more inventory... maybe

@Fabian Marrufo

Sell it. Get liquid as there should be more opportunities soon.

@Matt Higgins

This is all hearsay since we’ve never been in a position like this before.

Just my two cents: the economy was in a good place in dec-Jan and jobs were still being created. A large section of our economy is not only still working but making more money then ever. Grocers/ retail, medical, etc... we will see a drastic slow down for the next 60-90 days and then a shift into the millions of jobs that were going unfulfilled (blue collar) as other jobs cut positions (restaurants and bars, hotels etc). We will see a slow return to normal and then a spike back to it around the holidays. As a “millennial “ I’ve got savings to ride this out for 12 months as do most of my friends. And if that’s the “norm” there is a chance this doesn’t go as deep as people think. I’ve got two properties closing in a week that even with a drastic reduction in price should sell easily and make good money when I flip them.

We had to know a slow down was coming. It was in my gameplan at least.

@Mike M.

As everyone has stated contact her chain of command. They will resolve it quickly and she won’t enjoy that.

Each area has its pros and cons. Some of the set backs with milder climates (Oregon is considered mild) but it rains a lot here and the constant rain creates a lot of damage quickly if you're not on top of it as a homeowner. Great for investors looking for flips though. More mild climates or warmer climates might be more expensive and you'd be paying more for something because demand is higher. So your savings on "less maintenance" are really just paid upfront in the cost of property or in higher energy bills.

just a thought.

@Cosmin Iuga

-get the knowledge and figure out what style investing you are most interested in.

-become the guy that can find those deals (generate the leads through marketing) and partner with a seasoned investor

100k in the right kind of marketing will generate you millions in deals and relationships.

@Cory Lucas

Tower FCU is who I just closed with. They did 95% and paid all the closing costs. Took a while but it was during the holidays so there’s that.

What i've tried - Deal Machine / Driving for dollars. Didn't find it to be worth the cost. i had somewhere between 150-200 properties added on deal machine that i hit with 6-7 postcards and got a 0% response rate. I got probably 15-20 post cards sent back with bad information and when i got the first couple postcards back they were badly smudged and almost unreadable in some sections. I figured this was a bad print or since it rains a lot here in the pnw that it was an accident. but over the course of the next few months every postcard i got back was badly smudged and felt like it wasn't very appealing or coming across as professional (i also had my website listed on the postcards)

I've got a carrot website and have started the SEO content packages and have had that up since June. I've done some content posts with it and want to hopefully be able to do youtube stuff but i'm really terrible at anything media like. I didn't plan on any major traction from that for the first year at least but the visitors in month 6 or 7 is like 3-5 a month. I definitely thought it would be more. I'm hoping to do more PPC and eventually get quality SEO management but i'm not sure if i can afford it. 

What i'm doing now - I've got a small marketing budget of 3-5k (total - unless a deal comes in) and i've got a person who drives around for me now sending me the foreclosures she's serving and any vacant properties she comes across and she's agreed to a fee once i close a deal (Sent about 20 properties so far).

I'm still driving for dollars when i can using landglide and truepeople to find owners and call or mail them. (had an owner i talked to today that said he just signed papers to sell his familys house he inherited, if i called a day earlier it could have been me!)

I'm interested in starting a direct mail and or ppc campaign that i can start to drive leads and get in front of sellers but i'm not sure how or what. there is so much out there and i'd like it to be as automated as possible. listsource and yellow letters? Has anyone hired the PPC companies on Carrots website? Anyone in the same boat just make a leap and have success with one thing? 

Any input would be greatly appreciated.

(PS - this would be for flipping/holding)

Hey man! Firstly LA is a great place to invest if you can swing the price tags (I couldn't which is why i moved oos). If pops is offering 350k with no interest or anything like that you're in a very good positions because you can leverage that money. Learn how to flip and what the actual expenses are. Get with a flipper who's doing what you want and see if you can partner with him on a deal putting in leg work and sweat equity and if they'll let you do it from start to finish seeing everything involved (finances and all). Track a few properties on zillow or realtor and estimate the value you think they are worth and when they sell see if you were right. If you think they were sold to a flipper go and look them up and meet them. Don't let them know you have access to money but see if you can find them a deal.

Don't worry about how much money you make you're first deal or two because what you're learning is worth millions down the road and at 18 you've got a very long road ahead of you.

just a little math 

with 350k if you had a HM/private lender give you 80% and covering rehab costs you could quickly be leveraging over 1.5 million dollars in real estate and turning that several times in a year (assuming your paying cash for properties with the proper margins) you could clear high 6 figures pretty easily (maybe more). but if you don't educate yourself you could lose 350k in a few short breaths. 

just my 2c.