Direct Mail and upside down properties

5 Replies

Hello everyone, what parameters on list source would you use to target upside down properties. Are looking for something with 5-10% equity? Thanks Rocco

Hi Roc,

I've found pretty consistently that most houses purchased from 05 to about early 08 usually are underwater or have a little equity. 

List source has % equity and LTV % parameters but the data doesn't always get reported to them, so take it with a grain of salt, it might not be accurate enough to guarantee anything.

Allen

Upside down, by definition, has negative equity.

Hey Roc,

My two cents, I order 60-100% equity in my lists and I get people calling me that are upside down all the time...

so anything less than my equity percentages should do the trick...perfect for lease options.

@Brady Halse  @Brian Gibbons  

 @John Jackson  

@Roc P.   it depends on the market of course...you can find props with mtg orig. in california that are 4 yrs old that are neg. but here in TX you normally don't see that, except for tiny specific areas. 

As far as the list you pull from any source, it depends on what you are looking to do with the leads. 

I do the whole absentee owner blah blah blah...and guess what....most of the leads aren't wholesale deals...they are lease options. 

If I hit listed houses over $200k they aren't wholesale, they are lease options. 

Interesting John, most of your absentee owner turns into a lease option. I'll keep that in mind. Thanks Roc

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