All Forum Posts by: David Wurzel

@Account Closed

Amen brother! Amen

@Josiah Cooper

You are running a business.   Do you think an apartment complex reaches out to try and understand everyone's issues?  That's all they would do all day.  Do you have a mortgage payment on the property.  If you do, are they going to care if you don't pay them that month?

If AL lets you start an eviction at the 7 day mark then that is when you need to start it.

Please excuse this bit of a rant that I am about to go on, but I feel there are some things that just have to be said to newbies (and oldies) when it comes to the basics of business.  If I miss anything then feel free to add to this.  I am sure I am going to miss some things.

1.  Business, especially this type, is a relationship driven one.  That means talking to people.  Talking to people means picking up a phone when it rings.  Technology is fine and dandy and I understand there are many young members who just love it.  But, if you feel that voicemail is going to be your secretary, then you are going to lose a lot of money.

2.  The basics of grammar and spelling should be adhered to.  Misspelled words and poor grammar are a reflection of many things about you.  It shows your attention to detail.  It gives an idea of your educational background.  It shows you care about what it is you are trying to convey.

3.  Returning emails, phone calls, texts, etc. proves you know how to follow up, no matter how mundane it seems.

4.  If you have an appointment, be on time.  Time is the most precious thing a person has.  Wasting someone's time is tantamount to telling them you could care less about what is most precious to them.

5.  When talking to a person, look them in the eye.  It shows you're being honest.  If you have a hard time looking people in the eyes then go for the forehead or nose, it should be close enough.  LOL

6.  Dress for success.  When you go to meet people don't be wearing flip flops, shorts, t-shirts, ripped jeans, or anything with spandex. Just don't try to take my Spanx (which are worn under the clothing and not on top).  You'll have to pry those from my cold, dead hands.

7.  Finally, smile.  A smile opens up all kinds of doors.

An eviction is FILED when the clerk of the court stamps the eviction complaint and dates it.  That is the date of FILING.  What you posted was a request.  In essence, I would like to see my money in 3 days or I will be filing.

OK  This is my interpretation and mine only and not legal advise.

To me it says that you cannot accept a partial payment AFTER an eviction has been FILED.  If this is what happened then case closed.  You have to start over.

If not, then say THANK YOU FOR THE PARTIAL PAYMENT  BTW, I JUST FILED YOUR EVICTION.

@BOB E.

It certainly sounds counter intuitive that they would want to stay with so many "issues".  A quick call to your R.E. attorney followed up by a leave now and I won't press charges, counter sue, then get a judgment against you that will be attached to your new home might work?!?!

I am not a lawyer, nor do I play one on TV, but from Avvo re: GA evictions, here it is for what it is worth:

A residential landlord has a duty to accept a payment from a tenant who is in default if and only if the tenant tenders “all rents allegedly owed plus the cost of the [eviction]." [1] However, the tenant cannot wait until the last moment to do this. They must tender the full payment within seven days of the day they were served the eviction paperwork. [2] There is no need to worry about a tenant doing this perpetually because a landlord is only obligated to accept this type of payment once per year. [3] Making this payment provides a complete defense to the eviction and, upon receipt, a landlord should dismiss the eviction.

If a residential tenant offers a partial payment, however, BEWARE! A residential landlord who accepts a partial payment from a tenant after an eviction has been filed waives his right to continue with the eviction and admits the continuance of the lease. [4] In simple terms, the eviction fails and the landlord must start the eviction process over if he wishes to evict the tenant. It does not matter when the partial payment is made – whether one hour after the eviction is filed or five minutes before the eviction trial. Thus the landlord must either reject the partial payment or, if accepted, he must restart the eviction process.

Good Luck!

@Hal Mullins

I've tried this question on the forum previously and was roundly spanked.

And, in a way, rightfully so.

There is no real answer to the question.  Here's why.  No one is going to give away their secret to a 'best' direct marketing piece.

In addition as told to me previously, there is no best piece that works. 

The reason is there are three variables that differ for everyone:

The piece itself.

The targeted audience.

The size of the mailing.

Each is going to affect the response rate.  And even though I tried to pin down the piece with the best response rate, even that is hard to determine.

So, my approach, is to get whatever you choose out there and begin to dial things in.  Tweak, tweak and tweak again until things click.  That, and continue to mail and continue to mail.  It's like when you have a pair of binoculars that you have to keep adjusting until you get a clear view of what it is you are looking at.

The key is to take action.  Send out what you feel will work best along with the advice you find on this website.  Then KEEP DOING IT.  Don't give up because the phone isn't ringing off the hook after you sent out 500 mailers.  Keep doing it.  The squeaky wheel gets the grease.

@Armond Wright

@James Bynum

I have to agree with Armond. 

Take the money and don't touch it for at least a minimum of 6 months.  If you can do this then it will say a lot about you.  Check out what the Stanford Marshmallow Test is all about.  It was mentioned by @Brandon Turner on one of the podcasts and deals with immediate as opposed to delayed gratification.

Take those 6 months and learn EVERYTHING you can about your REI plans. Armond is absolutely correct about not using your money to finance a deal. Read Brandon Turner's ebook. Click on the Learn tab above and you will see it on the right.

Is your job stagnant?  Can you move to a city that may have better investing opportunities?

Having a business plan or step by step guide to what it is you are going to do is something that you either have or don't have.  By have, I mean a type written or hand written plan that outlines exactly what it is you are going to do.  It sounds like you have some ideas bouncing around but nothing on paper.  Putting it on paper forces you to think about what you know, don't know, and what you need to research more.  This plan/guide will show you how you get to where you want to go.

Keep us updated on what you do with the 300K.  I would be extremely proud to see that you accomplished your goals without touching it.  Believe me, it is VERY possible to do it.  You have great resources here on Bigger Pockets to learn how.

@Marlena Cooper

Set aside an hour or two and find a nice quiet place with a laptop, a piece of paper, and a pen.

Get on Bigger Pockets and start searching for how others put together their deals, what they say, and most important, what the steps are from beginning to end.  Write these steps down on the piece of paper.  Make notes of postings you may want to print out that have scripts others have used in certain situations.

Go to the Resources tab at the top of the site and look under Fileplace for the paperwork you need. (Be careful, you can only download so many each week because you are not a Pro member.)  Go to the Analyze tab and use the great calculators there to make sure your numbers work.

I'm not sure where you saw a rule about 20 houses but I've never heard of it.  Learn where to pull comps from.  Check out Redfin.

When you meet with sellers dress conservative business casual.  Preferably have a pen and portfolio in hand.  Have in mind how you are going to approach the seller.  Remember, they contacted you.  Start out, "Nice to meet you.  It was great talking on the phone.  Can you tell me a bit about the property and show me around.  What was the story again about why you are looking to sell?  Do you still owe on the property or is it paid off?"

Already have in mind a dollar range of what you will offer them for the property.  If you still aren't sure because of something that was brought up in the conversation or something you saw at the property, thank them for their time and tell them that you are going to run some numbers and will make an offer within a set amount of time.

So to recap:

Write down the step by step way you are going to wholesale any property from the research you have done on this website.  It may look like this.

1.  Market using direct mail.

2.  Get leads.

3.  Follow up with leads.

4.  Set up appointment with lead.

5.  Analyze property and pull comps.

6.  Meet with lead.

7. Make offer on property based on previous analysis.

8.  Fill out purchase contract and be sure to include 'and/or assigns'.

9.  Open escrow with a title company or attorney.

10.  Begin marketing property to buyers or post property on Bigger Pockets, Craigslist, etc.

11.  Agree with buyer on sales price.

12.  Go to closing.

For every step listed there is tons of information on Bigger Pockets.  Just search the site.

Also, if a seller questions your ability to buy simply say that you do have the ability.  If pressed further on what you do tell them that you partner with others to purchase properties. Be transparent and honest.  Don't lie.

 Most sellers could care less.  Remember, back to what was said previously, that they called you.  They want to sell.  Hopefully, at Step #3 you weeded out the tire kickers from the truly motivated.

Sorry for being so long winded.  Having a plan or a step by step is like having a map.  It shows you how to get where you want to go.