All Forum Posts by: Troy Michaels

Originally posted by Troy Michaels:

I was just about to ask the question myself. i know a smaller market where there are always houses, but limited investors. maybe instead of wholesaling in that particular area, doing a different investment strategy would work. (lease purchase, subject to, etc.)

yea but if you do it that way dont you have to have money yourself?

While I have do not have direct experience with small towns, the active investors I know are successful because they have buyers on the back end.

Whether they are assigning to other investors or selling directly to homeowners if you don't have buyers you add a lot of risk to your exit strategy.

Best of luck!

Yes, this is one way of accomplishing your goal using a Land Trust. To protect your fee, record a lien against the property that will be satisfied at the closing of the transaction (like a second mortgage would be paid off at closing).

As an alternative, you could also use an option contract for your fee and record that (like above).

Randy

Troy

What type of hand written do you use? I was thinking of doing the same thing to market to people in pre-forclosure as handwritten envelope and letter are more likely to get read. How many letters do you have to send to receive a response?
Could I have a sample of what has worked for you.

use a local number. If you are trying to sift and sort using special reports and want to give information then use 800#. But I have always used local number. I do use 800#'s but only as stated above.

I want to chat to sellers and buyers. all this hog wash about checking the motivation is crap. All you really want to know is do they have enough equity to do a deal. 800# is kind of hard to do that.

Just my opinion. I think that of all the people that say use 800#'s have affilate information or trying to sell you an AUTO PIOLIT way of buying and selling houses.

I have to laugh when I hear that term. Because the guy that says that is selling the same course for the last 5-6 years.

And for another type of direct marketing-

We hand write our letters and envelopes. We also obtain our list from the county clerks office and property appraisers.

So, we pay for the note pads (about $3 for 4 or 5 pads), envelopes (about $1 for 80), and stamps. The time is apart of the persons daily job. The info is FREE!

We mail daily. In our area if I get the letters to the Post Office before 2 pm, they get to the persons house the next day.

This works well for our area and type of marketing.