All Forum Posts by: Gregory Childs

Hey there Christopher
Maybe you didn't mangle the site name - perhaps you are a sage... by using the advice you gain from Bigger Pockets you should make bigger profits! Welcome to the community.
TTFN,
Greg

Didn't see it but http://www.superiorsurfacesne.com/ has a similar product
TTFN
Greg

Sell them all as a single package and carry back a significant note (+/-50%) to make it easy for the investor to qualify for finance. Then sell the note at a predetermined discount to a note buyer. you're happy, they're happy.
TTFN,
Greg

You can create a buzz about it by using a "coming soon" philosophy (just like they do in the movies).

As Steve mentioned, market heavy to the neighborhood (direct mail, local news outlet, etc) a "preview" day where you tour people throught the property 10am - 4PM. Same basic idea as an open house - but it's more exciting as it feels special. You could also have a early breakfast for the Realtors, so they get first view.

Then during the "preview" provide some incentives: 3m mortgage prepaid, vacation weekend, membership to local club (fitness/golf), 1 yr home cleaning svc, furniture rebate, etc for anyone placing an offer on Monday when it comes on the market.

This would get some attention and also some notoriety.
TTFN,

Greg

Does anyone have any thoughts on the Sept 1st announcement by HUD that they will give first right of refusal to Govt & NFP (not for profit) agencies before a property goes to the general public/investor communities.

What is stopping us as investors setting up a local residential rehabilitation NFP entity - this could be a great strategy to serve the needs of blighted communities and may also allow us to partner with local gov't agencies in an ethical and productive way. Thus being great PR vehicle for RE Investors while allowing us to have first access to value added properties.

It is my understanding that there is no rule about a NFP making money - it just does not distribute profits in the same way.

Thoughts?
TTFN,
Greg

In regards to SIMS - I invested just recently in the platform (I haven't implemented it yet - probably have it up and running in the next few weeks); I will provide feedback to the group once it is up and running on its effectiveness. OpenRoad (the CRM package) has some very nice features that integrate multiple areas of business process and can be purchased separate from the SIMMS product - it came with SIMMS for me.
the platform itself is designed around an integrated marketing & lead generation play and is very sophisticated and well conceived.
As I post, I am in the airport in San Diego (using the free wireless) after having attended the four day event to teach and enhance the understanding of the SIMMS system capabilities. It was a Tsunami of information and provided a lot of knowledge, value and understanding of Internet Marketing. The panelists were "very" high quality and the material comprehensive - with not too much of an attempt to upsell/cross sell (although there were some enevitable pitches for advanced strategy training). It was well worth the time and we were very well hosted by the Realeflow team. Greg Clement & Jeff Walker stood out as genuine experts in their field (and really nice guys) and their partnership with Than Merrill, Jeff Watson, and some other noteable veterans added to the events depth and relevance. All in all, I think the invetsment will have a big impact on our ability at Equity Street to grow our business.
Just as we appreciate the BP veterans wealth of knowledge - and the BP platform itself - it is also really nice to have the chance to sit down and have a meal with other sophisticated investors from around the country and share and learn from our experiences.
Maybe the "marketing" techniques they use can be annoying - but if the product is a quality offering then I appreciate the opportunity to invest. And to be honest, if they hadn't been so aggressive I probably would never have even heard of Realeflow, SIMMS, etc.
Just my thoughts. On the red-eye back in Florida around noon tomorrow.
TTFN,
Greg

If you email me or contact me I can send you the contact info for a seasoned REI in Rochester - they mainly market cash-flowing properties to investors. Maybe you can work out a deal with them for a finders fee for any deal you send them. If your investor is well healed, then the transactional volume would produce income to support you in your local growth that Brian so correctly suggests.
TTFN,
Greg

I'm on the other coast, so no personal contacts. However, go meet with your local REA, Home Builders Assoc, and/or the contractors desk at your local builder supplies and ask for a couple of recommendations. Then compare the companies - if you get repeat recommendations then interview the contractors and get bids.

As far as getting an estimate you could always pay for an inspection. It will generally point out any major property defects - then the rest is just general construction/rehab.

TTFN,
Greg

I agree with Jason - unless it has an absolutely unbelievable cash-flow why would you. The market offers so many good choices, why settle!
Next.
TTFN,
Greg

I noticed a phrase in another posting "A quote and note purchase commitment letter can be issued prior to closing so that you will know how much cash you can expect to receive at closing"

If I hold a 9% note for $75k on a property that is appraised within the last 30 days at $100k. The borrower has a DTI of 45% or less and a FICO of 675 or greater. What can I expect (approximation) as a commitment letter if I want to sell that note without seasoning it first?

Also, what companies (or to whom) should I go to get such a letter. Assuming they can follow through!

I am new at the note writing business - but if there is a formal aftermarket for this type of paper it would make my business more transactional and allow me to turn our capital significantly more often.

Thanks for your advice,

Greg