All Forum Posts by: Omarwali Jones

Thanks Mike I'm going to paint a hypothetical picture of the types of deals my father has been doing for the past 32 years to give you an idea of what I'm looking for. Say the average retail price of a 1 fam home is between 250-280k, and I'm looking to get it for 100-150k depending upon price, area, condition, etc....and afterwards I throw 25-50k into rehab, so I make between 75-150k profit afterwards. Who's my target audience in your opinion according to those numbers who should I be sending mail to?

hmmmm initially I thought what could be better than all cash? But I only thought that for a couple of seconds lol. This forum and books have taught me to cover all my bases. So I figure mentioning to the seller the fact that they have other options, options that make them feel comfortable is a nice touch/disclaimer. All cash puts people on the defensive of 'oh no an investor trying to jip me' even if they want it.

haha obviously :roll: not looking to wholesale though. I'm thinking out of towners that owe and 'ran away' from the property are probably a good place to start. Someone came into our office a few days ago with a hot lead on a guy that owes on 2 family that now lives in Georgia will see what happens with that

Rob sent me a link concerning his yellow letter tech still haven't gotten around to checking it out obviously I need to. :D Also Mike I shot you a message as I'm interested in possibly using your services as far as 'automating' our yellow mail is concerned.

-Wali

Speaking for yourselves those who have marketed successfully to absentee owners. What are the best types in your opinion? Heirs, people in debt, etc (these people are all out of towners in this example)....Obviously other investors and landlords are at the bottom of that list. Unless their in trouble, dumping, or looking to get out.

I'm working on putting together a yellow letter campaign now were we target about 1000 absentee owners split between 4 types 1 fams free and clear, 1 fams who owe at least 100k, 2 fams free clear and 2 fams who owe at least 200k and I'm wondering if I should get even more specific. Say for example heirs only. As they'll probably be highly motivated assuming in-fighting is taking place.

What are the best sources if any for information regarding foreclosures in the New York City area? Any Websites, Newspapers, Magazines, Govt entities, Publications, etc.... that are considered reliable?

I know you can obtain info regarding per-foreclosures/lis pendens at county courts but as far as bank owned assets/foreclosures. Craigslist and MLS just aren't cutting it :lol:

Nice any other websites, resources, tools, for identifying this type of information?

As the title suggest does anyone know what the current cheapest market (state) in the U.S. is? How are these numbers obtained and conclusions drawn? Are there websites that provide this data?

I'm not trying to hide the predatory nature, but I'm not trying to focus on it either, nor do I think its cool. It just so happens to be the nature of the beast....sometimes. There's nothing wrong with doing 'bargain' deals with over extended people. Reality is they made a misstep somewhere along the line and need to sale. Now being an ******* about it when you actually get the deal.... well that's a different story.

^^ Not a bad idea. I'm willing to bet though most of the investors in my area all get there money from the same 'godfather' who would probably tell another nephew or lackey about their cousin's mistake investment but not me.