Anything I have will be reviewed by my attorney prior to mailing.With that said, I know a lot of folks have had success with mailing letters to possible private lender prospects.

If you want to stay on that schedule send the pieces like every 10 days so you are hitting people more like 3 months than 2.If you have a little more money and have a little more time I would get those extra 5,000 names and follow his plan with double the pieces a week.It is a numbers game so you should get more prospects the more you get the message out there.

It has tow new furnaces, newer water heaters, newer roof, and mostly new windows and aluminum siding....so pretty low maintenance :) We got 6 months rent up front from one of the tenants, but that is a story for a different thread ;-).I have a big list of our next potential prospects, and am meeting with a potential private lender this week also to see about financing further deals.Here's to more sucess for all of us!

That's awesome and I can't wait to hear about how that hammers out.You've probably come across the 50% rule just listening to the podcasts, but check this video out anyway, I use this model when evaluating all my prospective deals:

In my opinion the only way to genuinely know if a property is 40-60% under value is if there are recent comparable sales if similar homes showing higher sales price within close proximity of the prospect property.Thanks

You personally may want to do some showing the next time around to find out what prospective tenants think about the property.

Having proven models in place like the 2% rule, 50% rule, 70% rule etc, made it so much easier for me feel comfortable jumping.There is also the Deal Analysis sub-forum where you can post the details of a prospective deal you're looking at.

If a seller needs or wants to sell badly, the prospect of quick, no hassle fast cash will bring him to his lowest price.So, if you go into real estate investing with little or no capital, you will be competing with all cash investors, such as myself.

Finding these sick deals is even harder, but I think the prospect of retiring by 30 with 55k in passive income is all worth it.Matt

Of course, this only "doable" if your life situation permits, aka your significant other many not be to excited about this prospect.