All Forum Posts by: Billy Bell

Hello BP community! I have been mailing to zipcodes in common areas of the phoenix and getting a average at best response. What's worse however is that all of the responses i got wanted top dollar for their home and had no motivation. I know mailing to absentee owners are not guaranteed to be motivated, but you would have thought that i would have come across atleast 1! I want to try mailing to a zip code on the edge of town in a semi-rural area, but dont know how to go about researching which zip code would be the best bang for my buck. Any pointers on deciding tht before i spend my time and money on 2000 mailers? This time i am getting a high equity list too which should help. Thank you! Billy Phoenix, arizona yellow letters wholesale

Hello BP community! I have been mailing to zipcodes in common areas of the phoenix and getting an average at best response. What's worse however is that all of the responses i got wanted top dollar for their home and had no motivation. I know mailing to absentee owners are not guaranteed to be motivated, but you would have thought that i would have come across at least 1! I want to try mailing to a zip code on the edge of town in a semi-rural area to avoid the dense competition, but dont know how to go about researching which zip code would be the best bang for my buck. Any pointers on deciding that before i spend my time and money on 2000 mailers? This time i am getting a high equity list too which should help. Thank you! Billy Phoenix, arizona yellow letters wholesale

Originally posted by @Jill DeWit:

@Billy Bell

Yes, dealing with unimproved land is very easy and profitable and can be done from anywhere. We buy and sell for cash and some we "owner finance". 

Sending out mailers to a target market is a great way to get your phone to ring with motivated sellers. (We send a personalized two page mailer. Cover page about us and second page is purchase offer.)

Best way to get leads is by paying through a source like First American Title. (Totally worth it as you can fine tune your list and target the exact group you want.)

And you want to set up a good "system" to sell and market every property. First offer to your regulars, then place on your website, landwatch, postlets, etc. You get the idea.

Happy to help!

Jill

 Wow thank you for the info! I assume you mail to hundreds if not thousands of lots per month. What system have you set up to automate the assessing of each lot as far as offer price to write on each of the unique purchase offers that are sent out? I have heard about people using this same method for homes and using mail merge to populate the PO's, but not how they figure out the offering price thru an automated system? It is a bit of a confusing question, and I hope I am making sense? ;) 

Thanks again! 

Billy

Originally posted by @Jill DeWit:

@Daniel Prieto

Welcome! (I'm local)

I am a land wholesaler and Arizona is full of fantastic “unwanted” rural land deals. You can regularly purchase acreage properties here for under $3,000 (total price) or less by sending out direct mail. I wish you the best of luck and please reach out to me or the BP community as you need help.

-Jill

 Hi Jill!

Rural land is a very interesting topic! Nice clean and simple deals that can be picked up extremely cheap like you mentioned! Where and how is the best way to find the leads to mail to? Also, how do you market to sell?

Thank you,

Billy

Originally posted by @Robert Szewczyk:

I have master degree in Architecture but started Real Estate journey in 2005. I currently hold broker license in AZ. Started to invest in 2007 and I am ready to take it to the next level. My goal is to have 100 cash flowing properties in 10 years :) Looking for mentors, partners and anyone who loves real estate and finding deals!

Hey Rob!

I am a new investor (searching for first wholesale deal) and it sounds like we have much in common. At the beginning of the year I had finally started my dream job (or at least I thought it was) working for the best architecture firm in Arizona for high end custom homes. 

I quickly got bored stuck at a computer all day drawing lines and circles in CAD, not being able to use my creative brain like I imagined I would. During this time, I had been accepted to the Master of Arch 3+ program at ASU, but was contemplating if it was really worth the time, effort and $80k+ in student loans. My bachelor is in business entrepreneurship and management.

I decided it wasn't worth it given that being an architect will NEVER pay as much as I want to earn in life so I started lisening/reading anything I could get my hands on about real estate investing. Since, i have begun sending out direct mail and looking for deals on the side until I make enough to quit my job and go full time wholesaling until i have enough money to do some fix & flips and eventually start collecting rental properties. 

Since we have so much in common, I would be very interested in meeting you in person! 

Have a great day!

Billy Bell

Just wanted to give everybody an update. The inheritor of the propertie decided to fix it up himself and try to get top dollar. Thank you guys for all your help and information, yet another example of how amazing the site and community is here on BP!!!

Thanks again and good luck to you all!!!

Originally posted by @Lisa Thoele:

I would double-check with your title company and the HOA if one exists - I bought one with a business partner and had to use her as the primary for the HOA purposes because she was over 55. Best Wishes, Lisa

 Thank you so much Lisa, this helps incredibly!

Originally posted by @Bill Gulley:

Actually, Lisa is the most correct. Owning may not be an issue, but that will be shown in the CC&Rs on title, if the restriction is against an owner under 55 is a title restriction, if it isn't then it's an occupancy restriction. If it is a deed restriction, you can't even have a valid contract as the equity in title transfers at the time of the contract, so if your contract isn't able to accomplish that, you don't have a valid contract. 

If age isn't a deed restriction, I'd bet that community would welcome a rehab to improve the property. If the deed is an issue, that's a matter that can be taken care of by good lawyering. :)   

That is exactly what I was afraid of. I'm going to call the HOA and figure that out today, as they were closed on saturday when i first heard about the property. Thank you Bill and Lisa!!! Wish me luck!

Originally posted by @Jay Hinrichs:

@Billy Bell  I have bought these at trustee sales  and I was not 55 at the time.

just rehabbed and resold them like any other fix and flip

 Excellent news! Thank you Mr. Hinrichs!!

Originally posted by @Fernando G.:

Hi Billy,

You can own the property, but you can not live in the property.

Yes you can rent it or sale it to 55+ people.

In case you want to wholesale it, we can buy it...call us

Thanks.

 Great to know Fernando!! I will definitely be looking to wholesale! My mom, a realtor who shared the lead to me gave me a ballpark market value for it around 100k.  It's 950sqft needs some cosmetic work like flooring and paint. Going to run the numbers to find a max offer price. Should i go with the 80% arv less repairs and my profit?

Thank you!!!

Billy Bell