All Forum Posts by: Teresa DelaMater

@Jay Hinrichs, that's encouraging to hear!

@Natalie Vane, I'm curious about this as well. I'm also an engineer and have dealt with the subtle disrespect that people show. I'm just getting started in RE investing and I'm hoping it will be different.

I would remove the cabinets and sink in that little room, add shelving and some drawers, and put a cute door with a frosted window on it and create a new pantry out of that space. Or you could turn it into a laundry room.

Yinna Wang , this is where finding a great deal to begin with comes in. The loan amount of the 203K doesn't have to be the same as the ARV.

Thanks, Cornelius! I'll probably start with 200-300 letters my first time, since I'll be doing it myself and I need to build up my marketing budget over time. Can you recommend a place that sends letters? Thanks for your input!

Hi y'all! I'm getting ready to send out my first direct mail marketing letters, and I was wondering if I should buy lined or unlined paper. I'm actually having a tough time finding lined yellow paper 8.5x11 that is thick enough not to jam a printer, so I'm leaning towards the unlined paper which is easier to find. Maybe I'm overthinking this, but I'd appreciate some advice! Also, what have people written on the letter that has generated the most leads? Thanks!

Maggie, the strategy I mentioned can be used to sell your own house as well. Since buyers who can't get mortgages just want to get a home, they're willing to pay above market value for a house. They're more concerned with the monthly payment amount, not the loan balance. You could sell your home subject to the existing mortgage, and then use the down payment they give you to invest in a duplex.

Maggie Gandera , I'm brand new to investing too. But I recently learned about a method that needs no money down called buying subject to the existing mortgage. The way I understand it is that if you find someone who needs to sell very quickly (maybe facing foreclosure), and find someone else who has a down payment but doesn't qualify for bank financing, you can arrange for the buyer to take over the seller's existing mortgage. The buyer's down payment would be used to get the mortgage and/or taxes current and to pay your fee. This is a win-win-win for everyone, since the seller avoids foreclosure, the buyer can get a house without going through a bank, and the investor gets paid for arranging the deal. If I didn't get that exactly right, I'd appreciate feedback from some experienced investors. Thanks!

Thanks for the warm welcome and the advice!  I had not heard of yellowletters.com, but I will check it out.  I think at first I'll be doing these services on my own, at least until I can get some momentum built up.  

I just discovered the Bigger Pockets podcast and will start listening to those.  I went through about 150 of the Freedom Real Estate Investing podcasts, which I think is where I heard about Bigger Pockets.  There is some really good advice on that one too, and I've learned a lot from it.

Thanks, y'all!!

Hi! I'm Teresa Dela Mater, and I'm just getting started in real estate investing. I'm interested in wholesaling to begin with, and then I plan on doing some fix & flips and eventually get some rental properties. But right now I've just been reading everything I can to learn about how the process works. I'm beginning to understand the different strategies, but I'm an engineer, so I tend to get hung up on the details of how things are done. For instance, where do I find these "lists" to send direct mail to, and what documents do I need to get a house under contract? Should I set up a separate phone number for leads to call? I am eager to start looking for properties, but I don't know what to do with them if someone were to accept my offer. Where do I find buyers for the contracts? These are just a few of the questions I have. I'm looking forward to getting to know some people on here and finding out how I can be a help to you as well. Thanks!