All Forum Posts by: Cindy Carriger

our club can be found here - www.dfwreiclub.com

I do encourage as Paul did above, go to several clubs.  You should learn a lot.  Just be cautious before putting down what you would consider a significant amount of money for trainings - that goes for online, in person with Gurus that come to town etc.  Im not saying they arent worth it, but do your research first.  If you start at the beginning learning about wholesaling, concentrate on that, you will begin to have an understanding of the other aspects of RE and even start to see more clearly what it might be that you want to do going forward.  Then, if you see some class or mentoring that you want in a certain niche, go for it.

my favorite investing book for wholesale or even rehabbing is 'Flipping Properties' by William Bronchick.  Good one that can probably even be ckd out at the local library.  Then, to meet other investors to 'assign' your deals/contracts to, attend as many local RE CLUBS that you can.  That will be lots of fun for you since you seem to be very eager to meet other investors and learn...and im impressed that you have given yourself a GOAL.  That's terrific - but it will all start with ONE...so concentrate on making the first one happen, the rest will follow if you keep doing the marketing and such to keep leads in your pocket!  

Also, my husband and i have a group in the E side of FW.  If you want to hear more about it, let me know.   We meet pretty much every Saturday from 9-12.

With your ambition, i think you will do well - just dont give up!  

Rohit is right - doing is the best learning...of course you have to get your basics, and then make sure you are protected with the proper contracts and options in place.  But, too many people are stuck in learning mode and never get the phone ringing.  Now, getting the phone ringing can sometimes be a little challenging - but keep at it, it will happen if you market enough!  GOOD LUCK - BTW, i am from the NE Tarrant area, so if you have questions about our area, i would try to answer if i can. 

ALSO, that looks like something that would come around almost daily...so, not very special as far as i can tell.  Realtors or agents who are also wholesaling properties will make things sound much more appealing than they really are....so, you should beware of such.

Agreed with Chris.  We purchase properties in the lower price range for rentals because they make more financial sense.  Your $200k prop rents for less than 1% of Market value (assuming you are paying MARKET VALUE, you didnt mention).  Plus, even if the house is worth $200k you should only be paying (AT MOST) 70-80% of the value, assuming it needs hardly any work (1-4k or so, although, the fact that this one is only 10 yrs old, repairs overall should be less going forward for a few years).  Most houses around the Ft Worth area that are worth around 100k should likely rent for $1100 or so, and i'd want to buy them at about 65-70k.  However, prices of home have escalated around here lately, and those previously 100k homes are selling for $120 to maybe 130k depending on area - but they are also renting for $1200-1300 mo....in which case, i'd pay 75-80k with under 8k to put into them. 

If you are only looking at listed homes in the area, you probably won't find any for the numbers i described above.

Sure.  =)

I've been using a printer that is taking too long to send me proofs, then get out my mailers!  I usually have to hound them...not loving that too much.  I use a standard size colored postcard with black ink, and i supply them with the 'copy' that they put on the card, then send me a "proof" before going out to print.  So, i'd like someone who can do similarly on a timely basis.  Thanks for any suggestions!

my comments were primarily directed at Single Family investing...so, not specific to duplex/fourplex. We have found our fourplexes by sending out mailings to owners of such...because finding on the MLS at a reasonable price just not likely to happen. Same area's though to look for those multi - family as for the single family as i mentioned above. Those neighborhoods should be decent enough to feel like you have safe neighborhoods with decent schools for families that might want to rent from you. good luck!

i dont market specifically to probate leads, but i have heard this from some:  just send a generic we buy houses postcard (or letter if you prefer)...but keeping it generic like you aren't even aware that anything might be amiss is one way to do it.  just a thought...yes, you alluded to it, sometimes the probate process takes a while, so you may get some delayed responses...and if you mail out ever so often, say 6 weeks might be good (not too short, or too late), you might hit them when they are starting to seriously think about ACTUALLY SELLING the house.  That's my thoughts, for whatever that might be worth.

I havent heard of them, but if that is their lead price, it needs to be a pretty darn good lead - i.e. well qualified, like maybe someone who responded to a 'we buy houses' marketing campaign for your area.  At least that's my opinion...the avg. cost of a lead on a absentee owner list might be something like .8 cents to .18 cents per lead or similar...and that is a 'somewhat targeted' lead list.  (compared to not targeted like say just hitting every address in a certain zip or whatever, which would just cost a few pennies per lead, i'd think).  Keep in mind that you want the price of the lead to be commensurate with the targeted nature of the lead.  It might take some research and some trial /error to figure this out.  Good luck!