Need assistance on JV so I don’t get backed doored

3 Replies

I found these two properties, both of them are in terrible condition. Non livable. A homeless guy showed me the properties hidden a wooded area,l. I couldn't find addresses, but I found them on a Google Map. I want to know the proper way to JV so I don't get screwed. I found the owners name and new address through the App LandGlide but no phone number. Is direct mail my only option?

First off, didn't your mother teach you not to follow homeless men into the woods? This sounds like the great beginning of a real bad story!

I would have to wonder if this is even a good location for a home since it appears to be a homeless hangout. Doesn't sound like a great location. Even if it is a good location, what's the value of the land for you? If a normal lot sells for $50,000 and you can pick this one  up for $20,000, would that be good enough to make you jump?

If you're determined to pursue, hire someone to perform a skip trace and track down the owner. Or just use direct mail marketing.

Homelessness has nothing to do with if an area is good or not..there are homeless people everywhere sad as it is to say. then you never said you followed a homeless guy into the woods you said a homeless guy told you where some homes were..I would say that is a smart move, I see many post on this platform that there are no deals..that would mean that they know about homes in all neighborhoods in their market. Have to have people out looking for you. I did over 200 transactions my first year nobody else was doing that not even gurus their first year..I guess it plays into now why I have partnerships with a few now. Direct mail is good, however, most people throw that away cause so many doing it, they are constantly getting same ads. You could ask the neighbors or skip trace. I even asked mail carriers if they knew who owned home .some knew cause they were local and some didn't. Heck from that the mail carrier told me neighborhoods where he saw homes that looked vacant and that he had a hold on mail etc. If I was doing what others were doing I would have never done so many deals my first year.

On the JV side what was your goal in this case. Jv wouldn't apply here..jv is usual somebody does the work etc and somebody put up the money for a 70/30 or a 50/50 split etc not if somebody just tells you where a deal is at.. I have lots of those with gurus and others or if you had a deal under contract and somebody else provides the buyer. One good thing about a JV deal is you market your deals to your buyer and have somebody else market it too enhances your chances of moving the deal, thus making money..I see many scared to jv would rather have deals sit forever and make nothing or keep dropping the price etc. It depends on your strategy if you just want to make money..even if not best location you could still wholesale, double close to rental buyer..I know in Charlotte you have many buyers looking for just rental deals. All markets have that..good luck