All Forum Posts by: Alex Price

@Ryan Dossey what are the sources of these lists to call and/or mail? 

@Michael Quarles that's very kind for you to send that. I will definitely take a look. However I was curious to know what kind of success people have had with these mailers and also what is the exact source of these lists, pricing, etc..

I'm curious to know who sends direct mail campaigns to attract new buyers and also where do you get your lists, how much do they typically run and how effective are they. Any feedback is appreciated. 

@Jessica G. not sure if you're familiar with Loopnet but that's a good way to find realtors that deal with investors because those listings are only for investment properties. Just FYI. 

@Manpreet Kaur I've never invested in CA as the deals are not yielding much Cash Flow from what I can see. However I've provided turnkey service for investors from west coast and out of country. The process usually starts with deal analysis and a visit to the city. 

They get a chance to look at all of their prospective areas first hand, tour properties, meet with property management and get answers to their questions and based on if they feel if it's a worthwhile investment they'll elect to move forward. 

We had a collection of our own properties and other investors that we knew had solid properties. We set everything up from tours, transfer to property management and even kept in touch up to a year after purchase to make sure property performing. We did what we were able to accommodate.

Let me emphasize that meeting property management should be a requirement. This has been a huge downer for most out of state and out of country investors because too many times the property management isn't competent. 

Also understand that things happen whether you live 10 minutes from the property or a 4 hour flight. That's real estate. It's the way it's handled that is the difference maker. I'd recommend property inspections prior to purchase so you're aware of current and potential issues that may arise. 

There is no such thing as a perfect property, even if it was finished being built this morning. However with due diligence and a competent team you can have yourself a good investment portfolio. 

@Delmas Edwards Well you're definitely aggressive that's for sure. I would say flip the property and break even and then work on wholesaling to build up cash, that way you don't have to max out your credit cards. This gives you back your lines of credit for other use (emergency use) and now you don't have ridiculous interest rates. If anything use your credit to get lender financing, home depot or Lowe's account and build that way. 16% interest rate is too high to make decent cash flow. 

@Dawson Hunt I would wait until there is an end buyer unless you plan on incurring escrow fees. 

@Caplan Abbey where is maintenance, repairs, less vacancy, ground keeping, service repair (pest control, hvac), water/sewer, management fee, advertising, etc.. There are a lot of expenses missing. That doesn't seem like true ROI. Also what is the current occupancy and condition of the property? Is that the actual rent? How solid are the leases and are the tenants long term? Also you said most investors go into a deal worrying about price and cap rate.... Isn't that what they should be worried about since they are assuming the risk? Wouldn't you be concerned about the return you'd be getting if you were investing your money? Without solid numbers and actuals I would've passed on this too.

@Jessica G. Did you tell them specifically what you want outside of just (location, price point, property type, status)? Sounds to me that you want off market deals or deals within a certain parameter. Also not all agents are as connected. I don't see agents buying themselves as much as they have favorite buyers that they'll send deals to because they've worked with them for a long time. That is just relationship selling. 

I like to work with those who are motivated and have been around long enough that they have a fair amount of business with a lot of sellers. Finding a good agent is just as much work as finding great properties nowadays. 

@Ayodeji Kuponiyi Here in Ohio you're allowed to put your rent in escrow with the court until the problem is fixed. If the lease says that everything was in good and working order when you moved in then the landlord is responsible because it's not as if became broken after you moved in. It was that way before you moved in. If the landlord is responsible, there may be a way you can seek damages as that's putting you and your family in danger. I believe the law allows up to 30 days for them to be able to fix or repair. It's tricky so you might want to do a legal consult. Also research your rights as a tenant in your state. If you've had to buy A/C and they were lawfully supposed to fix it then it's completely logical to withhold rent, just not sure the legalities of it.