All Forum Posts by: Webb Sledge

I've already compiled my own database of names, but I'm looking for a piece of printing software that will take each line (i.e. each name/address) and print it on a piece of mail, like a postcard. Does anything like this exist?

I've check with the commercial printers/mailers in town and they are unbelievably expensive, since I'm only doing 1000-2000 pieces at a time. It would be much more economical for me to have postcards made up with a place for an address, and then print the individual information on myself.

*Forgot to add that I'm on a Mac. If the software would work with my computer that would be fabulous, but if I need to dual boot, that can be arranged. I'll take what I can get.

I have never done a leaseback, and don't even have a potential situation on the radar where that would be useful, but do I understand you correctly when you say there is really no way to fully protect yourself?

What other issues could come up besides attracting attention from the IRS with regard to the homeowner "hiding" assets to beat a foreclosure?

It would certainly be a risk, but what if the homeowner never files for bankruptcy? Are there still legal implications?

I'm not looking for a moral loophole to leap through here... if they're not a good idea, they're not a good idea. I'm a relatively conservative investor, but I would like to fully understand the process and implications of what can happen.

I understand leasebacks can be a great thing for both a struggling homeowner and for us as real estate investors, but if the homeowner files for bankruptcy and gets audited, it can mean a huge headache if not a huge loss of money for the investor.

So, is there any sort of clause you all are using to help protect yourselves from this sort of disaster? Obviously, it will not be construed as legal advice, blah blah blah... but a brief rundown would be appreciated.

I'm in Virginia, if it makes any difference.

I need to create a call-in sheet so I can keep track of everything I ought to be asking potential sellers, and catalog it. Some things are obvious, like property address, condition, their name and contact info. But other than that, what is on your standard list of things to ask right off the bat? Please be as specific as you can (i.e. "In arrears on the mortgage?" instead of "Owner situation:")

Thanks.

As with any business, and maybe even more so in real estate, having priorities is crucial in determining where our energies are best and most efficiently focused. I recognize that the different facets of any business (management, marketing, and production) are equally important in their own ways, but I'm wondering how you prioritize them and how you prioritize the activities that fall within each of them. For example, we could all agree that marketing is important, but standing in a room all day for a week straight stuffing envelopes is not a good use of our time. We'd be best served outsourcing that somehow and spending time meeting brokers/real estate agents, looking at houses, etc. etc. It's this sort of thing that I'm referring to.

Being a new investor who must do almost everything on his own, I'm interested: Where do you think your time, energy, and money is best served?

(This is intended to be a relatively open question. I'm not really looking for anything in particular.)

I understand your problem, but am afraid I can't really help. I've been doing smaller scale mailings (~500) myself, but I believe my value lies in things other than stuffing and licking envelopes. It takes quite a bit of time to even do <500 houses, and I look forward to the answer to your question.

The only thing I could possibly recommend is to pick a neighborhood in the price range you'd be interested in which is located near you, and mail to them. That way you've narrowed your focus (and focus is everything) to a certain price range you're most interested in, and you could do follow-ups. Do a search on the web for reverse address searching, and see if you can find phone numbers for the houses you've mailed. Call them and "make sure they received your flyer," and open a dialogue with them about you, your company, and what you're looking to do.

I understand mailings become much more effective when you follow-up.