All Forum Posts by: Richard Wormwood

I know every state and municipality within will have its own various rules and regs on a city-owned property but when checking local records; I have come across a curious situation more than once.

It seems that at some point a city has "purchased" a real property (or vacant land) for $10. When I pull the local documents attached to the property, they often have the owner's signatures.

I am just wondering if anyone else has come across this?

Is this from a take lien?

Did the city just seize the property?

How would you proceed to attempt to procure the property for rehab and resale?

I find vistaprint always has deals going on for 20-40% off. If you're paying retail, you're getting ripped off. 

That being said, I'm always down for saving money. So I second the, "where did you get postcards for .08?" and what size are they? EDDM must be either 6.125" or 11" or .25" in dimensions.

From what I was able to find out, The HOA Auction will transfer the title of the property to you but the original mortgage is still in place. So the bank can still foreclose on the property and the original mortgagee; thus wiping out your right to the Deed. Now, you MAY be able to do a "Subject To" if the bank will allow it. Or you may just buy the property outright.

I'd like some clarification myself by someone who has actually been through the process.

Update on this:

Due to the size of the cards and after making a couple calls, I received a one-time waiver from USPS to use these postcards as EDDM. My new cards are of proper size. Lesson learned.

As far as using a targeted list VS EDDM... We do both. I have a handful of targeted lists that produce results but the EDDM has worked. The numbers are profitable if even a measly 1-2% response rate.

Thanks for the recommendations.

I called a local bulk mailer shortly after posting this and there are actually two options.

1) Submit them for EDDM anyways and see if the local post office will take them. The size really is THAT close.

2) Door bags, door to door.

I am very new to the business and we were just going to start a direct mail marketing campaign when I realized that I ordered a rather large amount of postcards, fractionally too small for USPS EDDM program.

Now I have a huge glut of postcards with few option on what to do with. Any recommendations would be fantastic.

Thanks for the warm welcome. The wealth of knowledge is impressive so I look forward to delving in deeper with y'all.

Dabblers turned divers!

I can honestly say I have been wanting to "get into" real estate for a while but a mix of not knowing where to start or how to start has kept the idea as just that, an idea.

Fortunately, with great support from the very family that has joined me in this venture; It's no longer just an idea. We are charging forward, and after much research, I have found myself consistently being linked to Bigger Pockets.

It's great to be here and you'll be hearing from all of us soon enough, as we continue to gain ground and forge our path!

Sincerely,

R. Wormwood