All Forum Posts by: Taft Love

Thanks guys! I've spent some time on ListSource. It seems super flexible. I'll take another run at it and see what I come up with :-).

Thanks for the responses! I'm looking for a few different lists. Absentee owners, pre-foreclosures, Etc.

I'm in Eastern Washington. I'd appreciate any leads on decent list brokers who can help me build a quality list (not just apply filters I give them without helping me think about how to build a great list).

Hi Damien. I meant a list broker who serves Real Estate Investors. I meant to write "REI". This would be an experienced list broker who helps to build things like absentee owner lists and other targeted lists for marketing.

I've spent some time searching online for real estate list brokers, but can't seem to find one. After landing on a handful of ridiculous websites with no easy way to contact the company, I'm growing frustrated. An ExactData rep reached out to me, but never responded when I replied to her email. 

I'm hoping someone here might be able to point me in the direction of a decent RE list broker. Any help here would be appreciated!

@Nghi Le Sure, I'd love to learn more about that lender. Sounds like a solid approach for BRRRR!

Hi all,

I've started a thread and asked several investors, but nobody seems willing to answer a simple question. It felt like the local investors I met were guarding a trade secret. I'm hoping somebody will take a minute to fill me in on one of the basics of investing.

Let's say I call someone who wants to sell me their house (off-market). What is the process for closing the deal?

My assumption is that I need to have a contract, get it signed, do a title search, and a few other things that I'm not yet familiar with. But what else do I need to do to prepare for this eventuality?

Thanks,
Taft

Thanks! 

I just had an offer accepted yesterday. I tend to be biased toward action, so I had a couple offers in before I even started the thread. Sometimes you have to build your parachute after jumping out of the plane :-).

@Mike H. This is awesome info. Thanks!

I've spoken to a few private money sources that do 80%-90% of purchase price and 100% of rehab costs. If I put 10% of the purchase price down, that is likely to be about 5% of the final value. That would mean that I can achieve my goal (leave less than 5% of ARV worth of my cash in the deal) and get my cash out more quickly if I use a rate refi.

That's not to say I'm ignoring people who thing I should use my money first, but I like the idea of using leverage—even if I only do one deal at a time.

@John Leavelle That's a good question. I have not seen any decent MFR in my market. Seems there aren't a lot on MLS and the ones that do pop are bought too quickly or someone else has fixed them up and forced the appreciation I want to build into the property.

@Andrew Johnson This feels like good advice. I've been trying to decide whether to do one or two during the first six months. My triplex is doing fairly well (my first property), but it's a small sample size and that confidence could get me in trouble.

I'll plan to move forward with one and scale more quickly after. 

Thanks!