All Forum Posts by: Jimmy C.

I hear absentee owners have a better response rate, with a lower rate of motivation.

I am looking to break into this with a larger mailing than I do with probates. And I am sick of the REO game right now, so it makes sense.

But I was wondering if some of you guys could opine about the level of motivation with absentee owners. Do you find that it's harder to negotiate with them?

Yeah the sophomore slump can discourage some.

One thing I need to work on is consistency. Once I have a few deals to sell I slow down on the buy side. It sucks when I get my sales, and have to hustle the buy side to drum up the next deal.

Thank you Jerry Puckett!

Ask your title company or real estate attorney. Either one should have a template or maybe they can send you one with peoples names blacked out and you can type it up.

I have one, but we do our deals in FL, so it may not be helpful

Oh, snap. I forgot lead cost. If you go through your local property appraiser site, you can generate your own absentee owner list. Or you can get a title company to give you that for free.

I get 500 envelopes at Wal Mart for ten bucks. Bought a pack of ink pens, and computer paper for a few bucks as well. And I bought a couple rolls of stamps for $90

So for about $150 (with gas to and from store and post office) I can send about 200 letters out. I'm only sending 35-40 letters which are handwritten addresses per week. I get 2 or 3 calls usually during the week, sometimes a couple more.

Been doing it for about two months now. My first contract from this campaign is supposed to come back in the AM. I have 3 other sellers to follow up with as well. They say the real money is in the follow up!

No, it doesn't mean wholesaling is illegal.

It means marketing a house without a contract is illegal. If you have a contract or option, you have an "equitable interest".

If you just randomly put marketing out on a house you don't own or control somehow, then you are going to get popped for brokering without a license.

Which is why I told you to get a contract or option signed by the homeowner before you start marketing that house.

Banks are taking their sweet times on some homes. 2-3 years of not paying is pretty average in this area...

Heck sometimes they just give the house to the borrower! Ive seen short sales where the seller walks with cash and the lender got nothing.

Its a strange market, but their are still winners and loses like always!

If they want a non binding agreement, get a non exclusive option signed.

Bottom line:: Get something signed to cover your behind

Now on a side note, I noticed you title the thread building a buyers list. Some people do post ads and signs with vague info and just say that house sold and build a list off fake ads. Ultimately you have decide if you feel like that strategy is ethical or not. I never did that though, no since burning bridges when just starting out. IMO

No

Dont do it.

Get the house under contract first. Or else you will more than likely violate some laws. And the cherry on top is that your would be end buyers can circumvent you while you get fined and potentially jailed.