All Forum Posts by: Shawn Connors

@Bradley Bogdan the location is Coatesville, Pa

hey BP,

I got a lead from my marketing campaign today. The house is owned free and clear and has been listed for 2 years!!!! It's listed for 99k but the owner said she would do 75k. Some quick come analysis shows the ARV could be 125k. Is there a way to make this work?

Hey BP,

I'm looking at a house tomorrow in a high veteran area.  There is a need for more houses for vets in the area so this may be a good opportunity for a seasoned investor which I am not.  Does anyone have any experience with this type of venture?  Thanks

Hey BP,

Has anyone had any success with Yellowletters.com divorcee list?

Hey BP, Quick question... When putting s house under contract to wholesale, should I have the seller sign first than get a copy of the mortgage statement (since they still have a mortgage) or put the house under contract first and deal with the mortgage later?

Carlos,

Yes he is.  His organization has gotten so large now that he has others who work for him that deal with these aspects as well.  But he is an investor that closes deals.

Hey BP Family,

So I got a lead tonight from a post I put on Back Page. here is the gist...

Lady bought an investment house hoping it would be an easy flip and found out that was not the case. Another "investor" took advantage of her and basically took her money. So she is motivated and wants out. She is looking to close ASAP. She owes 69k on the house and said she would be willing to go down to 60k (taking a 9k loss) just to get out of it. I pulled some comps from *******************.com (don't rally know how accurate it is) and saw as low as 35k and high as 110k. She said it appraised for 68k when she bought it and needs work. I have not asked her what it rents for and I will be going to see the house tomorrow.  House in not in a great neighborhood, but not a horrible one.   Any thoughts? 

Hey BP Family,

So I went and looked at my first house today from a small Pre-Foreclosure mailing i did last month.  here is the low down

-- The house is 896 sq ft and their is a large, spacious unfinished basement, needs some work on the roof (possibly a new one), refinish hardwood floors, paint, and replace a few doors.  Outside needs a new deck and minor landscaping and there is a huge lot of land.

-- She still owes 70k and is asking for 110k, here is where it gets tricky.

-- I am very new so its hard to determine the ARV, but from looking at comps (from Zillow, which might be be up to date) I think it could go for 100-105k.

-- and here is the biggest kicker... she hasn't paid the mortgage in 2.5 years!!! and also hasn't paid any taxes.  

-- I knew going into this it would be a tough deal and honestly I just wanted to get familiar with talking to sellers so i went and saw the house.

-- Is there a possible subject-to deal here?  Not sure exactly what the terms would be, so I wanted to throw it out into the BP universe and see what options I may have.

-- Thanks

Hey BP family, I am in the process of sending of my first direct mail campaign. I have off the next 3 days and plan on setting all my systems up so I can mail out on Wednesday. I have $1000 set aside for marketing which should allow me to send about 750 postcards (split up bi-weekly). My first list is going to absentee owners out of state in 3 different counties including my own. The next list is still undetermined. I'm writing the post looking for some feedback and advice for people with experience. Thank you !

Hey BP Family!

I am a new investor and have found that it would be in my best interest to find and work with a REI coach/mentor. I want to preface this post saying this... I am not looking for someone to help and counsel me in my day to day dealings with life. I am looking for someone with experience who can help me and who I can also help reach financial freedom through real estate investing. This is my goal and my upmost intention, to be able to give back to all those I encounter as someone has always given back to me. With that, let me tell you a little about my backround.

For the past decade I have been working in the food and service industry.  I am a chef and I absolutely love food and teaching people how to cook.  I started out at the humble beginnings of being a dish washer and have worked my way up to the top as an Executive Chef.  As a result of being in this industry I have learned a vast amount of qualities and skills necessary to help me grow as a professional such as; Relentless Work Ethic, Passionate, Strategic, Marketing, Building Relationships with Vendors, Communication Skills, Time Management, Leadership, Basic Accounting, Pragmatic, Compassionate (not what you would often hear from a chef), Sensible and many more. 

Now what has brought me to REI you may ask? I have flirted with the idea of real estate before I left high school, but never took action towards it. I have always be intrigued by the house flipping shows on tv and still have done nothing towards it. this past year, being at a new job, my bosses opened my eyes to the world of investing and compounding interest. I don't come from money, in fact we were very broke growing up, so I never had any real education about financing until my current job. so one thing led to another, my boss put me in touch with his friend who is a wholesaler and now I have got the bug.

Turns out that the friend is very busy and does not answer my calls and doesn't have time for me, which brings me to BP looking for a coach/mentor. I am very dedicated to what I do and well transmit it to REI. I would love to offer a mutually beneficial relationship to someone who can guide me through the basics. I am looking at getting started wholesaling and build my business around that, Fix and Flip, and Buy and Hold. Please only serious and helpful replies. Thank You!

Shawn Connors