All Forum Posts by: Brian Egr

I need some input from people who have had success driving for dollars.  I mail to a minimum of 50 new addresses per week, I mail each house 4 times on a monthly schedule, I am also screening the houses I am finding for at least 70% equity before I mail to them.  I also do mass mailing once a month to equity lists.  I am using similar language and packaging in my D4D mailings to what I use in the mass equity mailings.  The thing is I am getting below a 1% response rate to my D4D mailings, I'm not even get the pissed off "never mail to my house again" calls.  I get about a 3% response rate to the mass mailings.  I can't figure out what the difference is between the mass mailings and my D4D mailings, and why the response rate is so low.  I'm almost at the point I'm questioning if the USPS is actually delivering them (I'm just kidding I'm sure they are delivering them).  Anybody have any ideas?

B.S. in Construction Management.

@Brian Adams never mind, I read page 4 in this thread and you already answered that question.  Seems like all things in life, you get whatever you can negotiate!

@Brian Adams.  OK, have you done a deal where you were not the sponsor?  How did you structure it to give them incentive to sign onto the loan?

Originally posted by @Brian Adams:

@Jonathan Woelfel no each person in the syndication does not have to sign the loan.

The loan sponsor signs. 

Generally most banks define a loan sponsor as someone with multifamily experience, has a net worth equal to or exceeding the loan and 10% liquidity of the loan balance. 

 I'm assuming you are not the sponsor Brian, how do you structure a deal with the loan sponsor? Do they get some kind of premium on their return when compared to the other investors?

DM me, maybe there's something we can work out.

Hello Hayden and welcome to BP. Your first flip is definitely doable in Lincoln. I started in Lincoln with my first flip and a lot of others from Lincoln on BP have done the same thing. I also have a license but use it mostly just for MLS access and selling our properties. There are ways to start in real estate with no money, it is MUCH easier to start with 20K - 25K in the bank. Or find someone who has the money and partner up with them by providing some kind of value to the partnership besides money.

Originally posted by @Antonio Esquivel:

I'm in Omaha NE and the market is crazy hot right now. Homes are going under contract in one day everywhere. It's making it difficult to find deals but then again, our property is that much more valuable. 

Same thing in Lincoln.

You can do the Larabee school out of lincoln all  online.  The test is a State/national test so it doesn't matter if you taken classes in Lincoln or Omaha or wherever.

Welcome to BP, where's your rental rent in NE? Around Offutt?