All Forum Posts by: Curt Smith

Hi Anthony, I've seen equity split lenders before. They had a 6 month max length of deal or the PM would _loose the property_. IE the quit claim deed was signed at the beginning of the project and the PM would loose all their work etc.

Ok I found on their website:
- Ability to extend up to a year ( if property unsold in first 6 mos)

It's certainly going to cost you if you don't have this sale closed in 6 months.

To new folks, flip and fix is one of the most risky real estate strategies especially as it gets to be mid summer and the buyer swoon happens in the Aug / Sept timeframe, through winter to pick back up in March. Interest rates are ticking up, you could get stuck with a property you can't sell. Go to the fix and flip forums and ask.

6 months goes buy quickly and this includes the time the buyer's bank needs to close which can be 60 days, or it falls through and you have to find another buyer. I've heard of quick fix and flips taking 9 months to get closed. Just offering cautionary views.

But I'm bookmarking this lenders site myself. :)

curt

Skip looking at Atlanta. We are down to 2-3 months of inventory and people are biding 20% over ask. The rumor that Atlanta is a good place to buy SFRs is over a year old. I live here and have moved to other areas myself. :)

I'd make my decision on months of inventory. Agents in various cities can give you that info. Anyone know how to find months of inventory without calling an agent in each city?

curt

Given that the market has turned to being a sellers market, it has driven my marketing costs up through the roof!

I may sound flippant but I'm not meaning to be, but I feel that to be a full time RE investor, you need a day job. :)

It has gotten hard enough in REI, like acting that most actors have waited tables and the statistics are that most still are.

Good luck, curt

PS I still have my day job.

Jimmy Hong Hi Jimmy, can you explain how you use forclosureradar for trustee sales? Trustee sales sounds like probate sales. That's not been cheap or easy nut to crack for me.

curt

FYI those of us in Atlanta can't find profitable priced inventory, for some time. Rumors take a long time to die...

Since the market flipped to a sellers market what's needed is list of cities with the most inventory.

CL ads by investors in Atlanta have stopped working, "sell your house fast". A switch to sellers market killed those ads and squeeze page traffic.

So what investor ads ARE working?

tnx, curt

Can anyone compare foreclosureradar.com with realtytrack.com creating lists and downloading etc?

Cost per name from these various sites?

Also is "Pre NOD" more valuable re yellowletter campaigns vs Post NOD? My guess is that realtytrac.com is post NOD, but that's my guess.

tnx curt

THanks Steve, that's a lotta help in that link!! :)

Paul Khazansky

Several ways: buy from list brokers. Or subscribe to your own public records search. I subscribe to agentpro247.com the gold level costs me $39/mo which is a steal for true public records search where you can set the search criteria for mortgage amount, %equity, absentee owner, size of mortgage originally etc etc.

I've done a decent sized card mailing to >= 4 units sold more than 8 yrs ago with >50% equity. Another mailing to same age/equity >4 unit complexes.

I used agentpro247.com, gold level to pull my own mailing lists for my counties. $39/mo. Best public records search I've found for the price.

I'm bungling the calls. The 4 plex to 48 unit sellers are different than the >100 unit sellers I've mailed so need help with a conversation script for both sized deals?

I wished the BP search engine was better. I bet there's this type of info buried in this MF forum but can't find it.

curt