All Forum Posts by: Sean Dezoysa

A few people go cold either after responding, or receiving an offer to buy their house from you. At this point I assume you guys call a few more times to try to connect. Do you then drop them assuming no interest? Or do some kind of followup marketing effort?

Should be a pretty small list, so I am considering creating a custom campaign just for them, to stay top of mind. Not the standard once per month for 6 months thing but something more rapidfire. Maybe once per 2 weeks shutting off after 8 or 12 weeks.

I would like to hear if other investors think this may be fruitful, or probably just marketing to those who've already shown disinterest.

Hi, I'm a believer that a few obstacles to accessibility make a list more valuable. Do you guys know any areas where probate lists can not be found online or easily bought? Those are the areas I would like to possibly pursue.

Hi, I'm weighing paying someone drive for dollars to gather beat up house leads to use for skip tracing the owner, vs gathering probate and building code violation lists and mailing the residences and probate recipients. 

If you guys could do only one of these, is there a clear winner?

My thinking at the moment is this:

1) The probate list is probably the most productive option to start with based on courses I've taken

2) Code violation list is also nice and somewhat automatable (in the sense of outreach efforts)

3) Driving for dollars will require paying someone around $10/hr and I'm not sure what I'll get from that. I consider it the lowest option at the moment unless you guys think it's good (PS, due to work I can't do this myself, I'll need to and prefer delegating).

Thank you for any suggestions

My understanding is that an LLC (I'm looking at Wyoming) doesn't put your personal information on any public record, but an associated business bank account may make ownership/signer information available to the public and/or creditors? Is this correct?

If so, is there any low cost way to protect personal information on the business bank account as well? If not it seems like quite a major point of exposure.

Nominees are one option but costly and open new legal risks too. Curious what other options there might be.

I am interested in NPNs up to the point of having to take ownership because my goal is to avoid the additional burders of remote hard asset management. So for an investor like me, I have 2 concerns:

1) Will it be easy or fairly hard to find another investor to take over the NPN that is headed to foreclosure?

2) Not being local, but having a team in place, does it make more sense to sell the note preforeclosure, or post foreclosure? I suspect the former incurs less costs but the later may be an easier sell to an investor crowd.

Thanks for any advice

Hi, I have a preforclosure that I found via door knocking. Here are the details:

ARV ~$143k
Principal balance: $102,100 1st, no 2nd.
$875 payment which includes PITI, fixed rate.
3 other houses on the block are for rent, all the same size or a little larger. All 3 are renting for $1,200/month.

Repairs
The entire neighborhood has defects and is suing the builder. This house has an upstairs bath that flooded and collapsed the downstairs laundry room ceiling. Outside and living room lights both have problems, probably faulty wiring. Windows don't appear to be right (her words). There should be 2 heaters/AC units, but there is only 1 to heat the whole house (4/3 2,040 sf 2 story house built 2002)

I am thinking of taking over the loan. But the issue is it is not rent-ready due to the repairs. Are there other options? Or can I negotiate creative terms with a tenant to overlook the repairs, or make repairs, for a discount?

Hi, I notice in my area (Southern California) a few investors take the approach of buying out of area and partnering with someone locally. Sometimes this person is a friend or family but sometimes it is just another investor.

If any of you guys do this, what steps do you take to ensure the investor who will act as the local partner, will perform his responsibilites well?

In your example the sales price would be 40k (70% ARV - double the repair estimate). The reason I asked about this was to potentially use it as a bargaining chip at negotiation. If it can be structured to work well and minimize disputes then there could be value to guaranteeing repair costs, that's all.

Hi; I am noticing that sellers are often upset about my estimate on repairs. I don't try to make extra money by overquoting repair expenses so I'm thinking of offering the seller an agreement where I double the repair estimate for the sale (buying at an even bigger discount) and then pay back the difference after repairs have been done. All contractors will be paid by check and sign a document stating their prices to me.

Has anyone used a similar agreement? How did it it work for you, both at the negotiation table and after the rehab?

24 hours? A full week? Something else? How long are your offers valid for and why did you choose that length?