All Forum Posts by: Mark Graffagnino

I researched the owner of a vacant house and the mailing address was a UPS Store. I sent a letter. Then 30 days or so later sent a second letter. After the second letter he called me and I ended up buying the house.

So can I now market my $97 direct mail marketing system that has historcially achieved a 100% deal closing rate? I need to do this before I send any more letters.

Bradley,
I'm a contractor but only on my own deals. I'm doing buy/fix/hold deals in intown Atlanta. I'd be glad to share any information....always good for me to meet motivated wholesalers. Send me a message if interested. Mark

As Zach said, Atlanta REIA is a great place to start. I am doing buy/fix/hold properties in Atlanta...so far just inside 285 but looking at branching out to the 'burbs. I'd be glad to give you and feedback on what I've been doing.
Mark

Additionally in any correspondence I'd refer to it as a "musty" or "mildew" smell. Never the other "m" word.

I think the difference is I am not doing an owner finance deal. My IRA never owns the house, its just the note holder. There are rules about what parties you can make loans to out of your IRA, so be sure to check that out thoroughly. I've never been a fan of actually owning real estate in the IRA since you can't take advantage of all the favorable tax treatments that you get by owning real estate.

Hi A.C.,

Is there a reason you don't want to just use your SDIRA to make private loans on real estate and not have to go thru everything discussed above? I do private loans with Equity Trust and they are pretty simple.

Mark

Uh Phil, its already closed dude. Just like I explained above. The lender took a deeply discounted cash payoff and that was the end of it. So apparently the owner did have an approval and he did have some idea of what he was doing, because he no longer owns a home that is valued at about 45% of his outstanding loan balance.

I am bidding out siding work on an apartment complex. Got 4 bids-
$1.4 million
$1.5 million
$1.8 million
$3.3 million
I shot the guy at 3.3 an email saying I think you might have a typo or calculation error, all the other bids were in the 1.4-1.8 range. His reply was "I've been doing this for 25 years, nobody can do it for that price, my materials alone are $2.2 million, call me when you need me to fix it for ya".....then "hope we can get together on the next one". Uhhhh, you will never see the next one...or the one after that....or the one after that...

I agree with Ben; do not introduce humidity...at best it will cause the drying to take longer. I am doing this right now and its a 3 day process. They are using a quck-dry poly on the first coat, then regular for the next two coats.

J- I need to call your vendor. I am paying $1.75/sf. That is for dustless sanding though...may add some $ but not $0.50 I don't think.

Its very easy to apply for one online and you get your number quickly. Go to http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online and it takes you thru the process. Or just Google "apply for EIN". I've done several this way.