All Forum Posts by: Trevor Thompson

No, we didn't reach out to the surrounding Portland counties.

Within the last month I found my "Dream Team" with a local Realtor that I met at a REIA meeting I attended. He was also interested in wholesaling. We just sent out 1,000 yellow letters to absentee owners as well as Pre-foreclosures within two different counties. The letters arrive at their properties on Monday. We also have a bulk of 100 bandit signs that are due to arrive within the next few days that we are going to place throughout the city.

We meet with our closing agent on Monday to become familiarized with each other. With only being introduced to Real Estate at the end of November I am anxious to see the results of our first yellow letter campaign.

I'm using this post to update the progress of the campaign on a regular basis, also it will help me keep track of my progress throughout this next month!

Trevor

I've recently sent out an absentee yellow letter campaign, but looking onward towards different leads as well.

I used Listsource for my absentee list and I also saw that you can get pre-forclosures as well. I was interested in hearing what criteria is used in obtaining a pre-foreclosure list.

Thanks

I recently stumbled on this property and as a investor that hasn't made his first deal I'm not sure if this is a deal to consider, or the fact that I could be missing something significant:

Features: 3bd/2bth

$74,900 is what the asking price is.

$120,280 is the tax assessed value.

$2,220 tax amount.

Last sold in 2007 for $178,100

Comparable sales prices in the area average around $130,000.

For the property description they quote, "Looking for a project? This is the perfect fixer upper!"

I'm looking to get it under contract and flip it.

Any advice would be greatly appreciated!

Hey BP,

I've recently been putting in hours and hours of research on these forums as well as anything to better my education in Real Estate. I've now started looking at the market in my area (Salem, OR) to put what I've learned into real life experiences. I recently stumbled upon this property that is marketed rather low then the comparable sales in the area as well as what it sold for previously.

I wanted to get someone's take on this, I'm not sure if it's my eagerness to get into investing as soon as possible, or if I actually found a deal that could turn into a good first deal.

I'm not sure whether to post all the information on here, or message the links so you can see first hand!

Thanks,

Trevor

That helped a lot thanks guys!

I was doing some research about current funding options for new investors in Real Estate. I came across the option of Transactional Funding, but I'm not understanding what the funding is for.

I know that in order for this to happen you need to have a buyer lined up and ready to close. However, in order to do this you need to own this property for this to happen yes? For example, you have a $100,000 purchase and a buyer lined up for a $120,000 sale. I don't get where this funding is going to if you already have the property under your name. I figure in order to get the $100,000 purchase in the first place you would need some sort of other funding to even get the purchase, so what's the purpose of Transactional Funding?

Thanks,

Trevor

Just taking the time to introduce myself to the BP forums! I've been researching around these forums for some time now, so I thought a introduction was in order. My interest in real estate has recently sparked after giving it some thought and I can say I haven't been more excited to take my first steps down the path! Being fresh out of high school I've always surrounded myself with business. I look forward to networking with the people on these forums and hopefully meeting surrounding REI's in the Oregon area!