Test different ads that will draw in sellers and make sure your ad targets the type of seller you are looking for (foreclosure, probate, landlord).

target purchase price needed repairs total invested annual income taxes (1%) maintenance, repairs, vacancy (25%) insurance (.5%) HOA Total Expenses Income after Expenses Interest on purchase price Principal on purchase price Total Mortgage Total Expenses (including interest) Income after Expenses (including interest) Cash Flow CAP ratio cash on cash return

I'll almost always target a cash flowing property with a target return in mind that needs as little work as possible.

Population in my target area is 40K, poverty rate is at least 25%, and we are doing well with rentals.

I've always had the goal to have my real estate income on my "fix and holds" provide enough TOTALLY PASSIVE income for me to not wake up before 11AM and always be able to wear flip flops, from anywhere in the world :) More recently, I read some of Ali's blog posts, and it's a much more explicit and targeted form of something that has been less explicit in my own goals, investments, and work flow..For now, I've been outsourcing whatever I can.

My attorney told me that if you are targeting non listed properties,  that there is no fiduciary responsibility however there is an ethical responsibility.

Direct mail (targeted mailing lists with very specific language Estate Attorney, Divorce Attorneys, Relocation companies, Local Builders (These folks tend to “land-bank” properties), Investors, Real Estate Agents (they call them “Pocket listings”), Public Records (for bankruptcies and short-sale opportunities), People you know!

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Taking a local tax lien foreclosure attorney to breakfast is the best way to get knowlwedgeable about your target markets.