Feedback Please

[Jerome Lanier]

So I am rookie relative to Real Estate investing but I would like some feedback on my current process and some of the issues I foresee facing. Currently I spend an hour a day driving for dollars (seeking out distressed properties). I then take those addresses and scrub them, removing.. 

• Bank Owned 
• Recently Purchased 
• Owner Occupied (with up to date taxes paid)
• Mortgages in the last 8 years or for amounts that are extremely higher than the house could be worth 

I then move the properties that are remaining into a spreadsheet, I have 2 waves of marketing one for the beginning of the month and another for the middle, by July 1st I should have 100 total properties on my spreadsheet. I send mailers out once monthly. Now what about this process would you suggest changing or tightening??

I foresee finding cash buyers and a title company, that will be fine with closing with assignment, once I do secure a deal as an area of opportunity for me right now. 

Any suggestions thanks in advance for whatever feedback you can offer.

And Go Blackhawks!!!!!!

- Jerome 

[Mindy Jensen]

@Jerome Lanier, I see your plan is to wholesale. I would still keep the REOs in there. If you have the means, double close on those properties.

I used to live in Crete. I'm familiar with the area - it can be hit or miss neighborhood to neighborhood if you are looking at Park Forest or Richton Park. I am under the impression that PF and RP aren't hotspot markets right now. REOs could be a great way to get instant equity.

Removing those other criteria is good.