All Forum Posts by: Tyler Blackburn

@Pratik P. that is a VERY good idea! Once I get a little further in this REI thing I will probably have to give that a try!

@Casey Hildreth and @James Rodgers I will let yall know how it goes! I will probably target a few properties at different value levels, just to get a decent survey.

Good afternoon BP!

I sent out my first direct mail to houses in pre-foreclosure in the dallas/fort worth area. I got my list from list source at the beginning of January and I am itching to get more out of it!

Would it be wise to take this list and go knock on these people's doors and ask them in person? I feel like someone at your front step would be way more noticeable than any piece of mail...

Thanks in advance!
Tyler

@Duane Kidman that is GREAT info! Thank you so much! I will definitely include those tips in my estimates. And yes, I realize I sent out a very small amount. But I figured more than to get deals, it was big just to get started. I have already analyzed how my next batch will be better :) And thanks for the words of encouragement! That is much needed lol

@Mark Allen and @Sean Kirkham I built a list of houses in pre-foreclosure in the DFW area on listsource

@Deandre P. So after listening to most of the podcasts on bigger pockets, I really liked the episode with Michael Quarles. They did some role playing and it really helped my confidence in sending out those letters and getting ready for the phone calls. Other than that, I would just advise you stick to it. You may not get anything your first time (like this round for me!) but you might really get a few good hits on the next direct mail campaign that you do.

@Doug Woodville  and @Jacqueline Coombs That's awesome!! I am so glad to hear that y'all are getting responses! It gives me hopes for my next round. Unfortunately, this round didn't go great for me... well yet. I had been counting down the days and today is like 2 days after I expected to hear my phone ringing. BUT i did get my first contact tonight! It was one of my prospects just Texting me saying "No thank you, I would like to keep my house to pass it on to my daughter". Even though it was a negative response, it still was exciting to get a response!! But who knows, maybe the letters were delayed and I will be getting more calls tomorrow! haha... maybe.

And @Doug Woodville, I built my list on listsource and filtered for those in the dallas/fort worth area that were in pre-foreclosure.

Good Evening BP!

I sent out my FIRST direct mail pieces of 300 letters to pre-foreclosures about 6 days ago all around the Dallas / Fort Worth metroplex. So I am hoping that my phone will be blowing up over the next couple days with people needing to sell me their houses (hahaha!). That being said, since I am a new real estate investor and have zero experience estimating rehab costs, do you think it would be best to get a general contractor or experienced rehabber to walk the property with me when I get to the point of visiting it?

Furthermore, do you have any advice on how to find an ethical GC that would do that and walk me through how the estimate is done?

Thanks in advance!

Tyler

@Jacqueline Coombs, I totally get it! I just decided that I was/am tired of not doing anything with all of the knowledge I have learned here and in books. My advice, just stick them in the mail and when someone calls keep in mind you are there to help them out of a bad situation! It's weird to think that one could profit from helping someone in need but that is what we do! Best of luck to ya!

So other than a few people I met at the REIA and a friend of mine that is a realtor, I don't really have a "team" per se just yet. That was part of what I was getting caught up in the past year or so. If you spend your time researching and planning everything before actually taking action steps to get started, you might never start. There is so much that can be analized and planned that it quickly gets overwhelming.

So after reading about 10 books on investing, I decided to just do step one and analyze, plan, and build a team as I go.

I am pleased to announce that after about 9 months of paralysis by analysis, I SENT OUT MY FIRST MAILERS YESTERDAY!!!

I am attempting to market to distressed sellers in pre-foreclosure in the Dallas-Fort Worth area with the initial intention of wholesaling. So now that the yellow letters have been sent and i have jumped into action, I am excited/terrified/confused about what i am going to say when I start getting calls...

Do y'all have any tips or scripts you have found to work?

Thanks in advance!

-Tyler

Thank you very much @David Veeder, I will try and contact these lenders and try and formulate a strategy!

@Sandra N., I hope to someday be as well spread! But yes I would be very eager to learn from those who like to teach! Thank you!

Good morning @Mark Creason

I am at the intersection of the Dallas North Tollway and George Bush Tollway. but I am willing to drive just about anywhere for some good advice and insight!