All Forum Posts by: Dev Horn

We've seen diminished value in the yellow letters over the years as consumers have seen a lot of them now and most really don't think they are "hand-written". If your message is on-target, they can work, but don't make them so wordy that the homeowner will think they don't have time to read it and figure out what you are pitching. And don't think you've fooled them into thinking you wrote them a letter by hand.

Postcards work well if they have a high-impact design + a great brand and super-easy-to-remember contact information. The homeowner gets the message even if they toss the postcard because they see and read it immediately. Keep it simple! People don't need a 2-page letter from you to figure out that you want to buy their house!

You can do a 2,500 piece postcard campaign (5.5x8.5" cards) for about 60 cents a piece - card+list+processing+postage. Yellow letters in the same volume can run about $1 each total. So, not only are postcards more effective, IMHO, but they are usually a lot cheaper as well.

Totally agree with John Jackson - So many people put out a few signs and do a single mailing and say "I didn't get much" and think marketing doesn't work. It's a numbers game for sure (both bandits & direct mail). Good luck, Cory Rogers!

Hi Landon Dolezal and welcome to BP.

You've found the best site and community to learn about REI!

Now you don't have to spend thousands of dollars going to a "Get Rich Quick in Real Estate with No Money and Terrible Credit" seminar. This site has ALREADY saved you thousands of dollars! =)

Wishing you much success!

Hi Emily Dixon - Here in Texas where land is cheap it's not uncommon for a nice property to be priced at $100/sq ft. And while it may not be the only measure, we certainly look at it when comparing the pricing of comparable properties. With your land considered, you're at $200/sq ft. in cost and it sounds like you think you can sell for at least $230/sq ft. It's pretty easy to look at recent sold comps and see if this is a good pricing/profit assumption.

Chase Brister Hi Chase (&Bernard & Evan) - welcome to Bigger Pockets. I'm new to this site but not new to REI. FYI- Bigger Pockets is featuring 2 eBooks by "J Scott" (an expert investor) that are basically like textbooks for this business - I bought them & they are well worth the $29 for the digital versions. Check them out!
http://www.biggerpockets.com/flippingbook

From the link above:

Texas Finance Code, Chapter 156 has a de minimis exemption from licensure for an owner of real property who in any 12 consecutive-month period makes no more than five mortgage loans to purchasers of the property for all or part of the purchase price of the real estate against which the mortgage is secured.

Where a seller financer exceeds the number of transactions exempt under the act, the seller financer must either become licensed as a residential mortgage loan originator or must engage a licensed residential mortgage loan originator to conduct all loan origination activities that require a license, including taking applications and/or negotiating the terms of a loan.

Here's an informative link on the Texas SAFE Act:

Texas Dept of Savings & Mortgage Lending:
http://www.sml.texas.gov/tdsml_faq_mb_texas_SAFE_Act_seller_financing.html

Hi Ernst Drouillard - Your question leads me to think of a juggler with 4 balls going at once. What's the expected time frame to complete the short sale? Is the potential complexity of making all that happen worth the $ you'd make during the ss period?

Yee Liau Are we making the correct assumption that your interest is in COMMERCIAL real estate investment?

The cost to involve a title company/agent is well worth it. Don't risk $20K (or whatever your exposure is here) to save $1K.