All Forum Posts by: Thomas Garza

Hey Travis! In order to calculate the ARV, you need to locate other duplexes that have recently sold in the immediate area. If you are working with a realtor, they should be able to do that for you without a problem. If you are not, then you might have trouble finding actual sales, which means you will have to settle for properties that are currently listed. If you are struggling to figure it out and you aren't working with a realtor, maybe consider asking a realtor if they will help you figure out the ARV for a flat fee of $50-$100. I'm sure you would be able to find someone in your area that would be willing to make that deal.

Just out of curiosity, why are none of them rented? It seems strange that an owner would have 3 completely empty duplexes. 

I'm about to start my first direct mail marketing campaign and I'm looking for a company to print my yellow letters and postcards. If you have a recommendation for a company that you have personally used, I would love to hear it.

@Steve Morris, how do I get them on the phone without them calling me? 

Thanks for the advice @Lee Ripma

Thanks @Lisa Jackson and @Joanne Eriaku! 

My wife and I are about to start our first direct mail marketing campaign after many years of thinking about doing it. I would love your feedback on my template below. This letter will be sent exclusively to driving for dollar houses. The plan is to pay someone around $1 to write each letter by hand (I can write around 15 per hour) and they will be mailed traditional mail. Thanks for any input you are able to provide. 

Dear [Person Name]

My wife and I were driving through your neighborhood a few days ago when we spotted your house at [Street Address]. We are in the market for a new investment property, and we think your house might be exactly what we are looking for.

If you are interested in selling us your house, without the need to make expensive repairs or updates, please give us a call at [Google Voice Number].

Sincerely,

Thomas and Dianna

@Marc Winter of course we know that our projections can be wrong, but what investment can't? The reality is that the stock market will rebound, and maybe it takes longer than our projections, but every stock I purchased will either reach my sale goals, or the company will file for bankruptcy.

With that said, a Tesla is too expensive for us to buy outside of a scenario like this. Not because we can't afford it, but because we prioritize our money to other things such as real estate investing. I'm hoping an unexpected and unplanned for (prior to now) $40k will be easier to part with. 

Two weeks ago I decided to invest some money in the stock market to take advantage of the plummeting prices. I have just officially run our projections, and we hope to walk away with a $40k gain in 1-2 years. My plan was to use that money as a down payment on the future Tesla Cybertruck, which will cost roughly $50k plus TTL. 

After further consideration, I am now thinking that I should use the $40k to buy 1-2 rental properties, and then use the cash flow to pay for the monthly payments on the Cybertruck. It seems like this approach has several benefits, including the basic idea that my tenants will simultaneously be paying down my car and my house for me at the same time.  

Is there anything that I'm missing here? Has anyone else here employed this strategy? If so, how did it work out for you? 

*I plan to pay the taxes on the stock, TTL on the vehicle, and closing costs on the house(s) out of my own pocket in order to stretch the $40k the furthest. 

@Raven Henderson,

I plan to attend a few meetups soon! 

@John K.

Do you ever have deals in Houston, TX?