All Forum Posts by: Solomon Solomonov

@Michael Q. Got it! Coincidentally, my value filter did not exceed $450k, but that was based on my budget, not the median property values. Your input makes sense though. Thanks for the feedback. 

@Michael Q. 

Can you elaborate on the value filter? What is the source of the values in first place? Assessment appraisals? 

I'm sure there  is an ideal range of length of residency in every market, but I rather not spend the time trying to figure it out.  If I had the budget I would probably just blanket all absentee owners with 40+% equity. If I really wanted to find out if there was a pattern, I can look at all the deals generated from DM over the course of a year or two. If the responses and conversions all had a length of residency of 7+ years, I'd consider only marketing to that category moving forward.  From what I gathered from all the posts on The topic, the results of test campaigns should drive the makeup of your mailing lists. Then again, I'm only just embarking on my first direct mail campaign. 

@ Michael Q. 

4+ years gets me to 1,230 contacts, which is a good number to start with. Thanks for the feedback. 

First off, I am new to BP and I have to say, I haven't come across a better source of education. It's like plugging into that machine from the Matrix to learn Jiu Jitsu (only you learn about real estate investing). 

I'm beginning to compile a mailing list from listsource.com using many of the filters recommended by some of the experts on BP. I have seen posts by experts (e.g. @Michael Q.) suggesting people add 7+ years length of residence as a filter. 

I want to understand the rational. If the purpose is to ensure that there is enough equity in the house, doesn't the equity % filter already account for that? On the other hand, you could presume that motivation to sell increases with time. But then, why not use 3+ years or 5+ years. It seems that using 7+ years would exclude some absentee homeowners who both used cash to finance their purchase and have experienced distress sooner than 7 years in. 

This is not just a theoretical question. My list shrinks significantly when I go from 3+ years to 7+ years. 

Any feedback is greatly appreciated. 

Hi all,

First off, I am new to BiggerPockets and a novice investor. This site has been incredibly valuable in my education and I am very thankful. More to the point:

I am currently conducting due diligence on some improved properties being sold at a tax deed auction in Butte County, California. There are two issues I need to resolve immediately before digging deeper and dedicating more time for due diligence:

1) Occupied vs. vacant? The auctioneer (**************) does not provide information relating to whether an improved property is occupied. I tried contacting the county offices. They too said that they do not have such information, nor can they recommend any courses of action.

a. Do I rely on a drive-by to determine occupancy?

b. If I cannot definitively determine that a property is vacant, how do I account for that in my decision-making analysis?

c. How can occupancy affect acquisition costs (both monetary and duration)?

2) No inspection: unlike other auctions I've attended, there are no property showings for this auction. Obviously, I can get an idea of the interior condition by observing the exterior (maybe even peak through a window), but the condition of the interior is still very unpredictable.

a. How does the lack of interior inspection affect my decision making analysis? Should I make certain assumptions?

Thanks all,

Sol