All Forum Posts by: Doug Haisten

Anjanee:
1)There has been a truck load of similar questions. I'll throw these into the hat:
2) Go to court house RE auctions. Those bidding on houses have ready cash and rehab plans. Introduce yourself, pass out cards, ask them what they are looking for etc.
3) Call all those Bandit Signs. Those are investors.
4) Go to REI meetings and you will surely find investors. I met 3 the first meeting I attended.
5) Call landlords.. They may want to expand their rental property holdings.

Please excuse my lack of knowledge on the topic of subject 2/wrap deals. I like the idea of the sub2/wrap deal but what is in it for the seller? They may get outstanding property debt paid but their name is still on the mortgage thus showing on their credit report as a debt and maybe hindering them on renting or buying another house. What would I do if my buyer completely defaults? Evict and sell again?

If I am the seller I'd be worried the buyer would stop making payments or late sketchy payments thus further hurting my credit. If I am the buyer what of the seller, after a couple of years, decides he doesn't want to keep his mortgage any more or if the seller passes away?

thanks

Tony, from I have read, and I am just starting mailings, it isn't just the 3rd mailing it's the thrid mailing to the same list so as Harmon said I get a specfic seller list in a specific area and send a number of letters, each maybe a bit different, over and over again, refreshing the list along the way. It sounds like the hard part (or a hard part) is keeping the discipline to keep mailing time after time without getting a property.

By the way, I enjoy following your "journey".

So with the different lists (inheritence, Probate, Absentee Owners, etc), different paper (white, yellow, cards) different styles (1st contact , 2nd contact, 3rd contact), addresses, phone numbers, day mailers sent out, responses, costs, etc etc...what type of software is best to track all this infomation? Spreadsheet? Database? Spouse?

Doug

There is definitley more than a couple of yellow letter companies and the same can be said for list sources. When looking for a list what do I look for? How old is the list, how many people in my area have bought the same list, etc? What about yellow letter companies, is it all about lowest price, what services should my yellow letter company provide?

Thanks

So Mark,
I am arranging for a YL campaign myself. I've read a good bit and convinced myself if I send out one mailing im in for 4 or 5 mailing to get optimum result. I am curious, did those calls that blew you phone up result in purchases/sales and why did you stop the direct mail?

Doug

Sharon:
so when looking for a zip code to send to or a specific group, what number of recipients, with the response rate to direct mailing being what it is, should be sent a mailing? For instance, in my county there is less than 200 for inheritance home owners. If I expand out another 60 miles I don't quite done that number. It seems 400 mailers doesn't have the critical mass to be effective.

Doug

I too live in an area with only about 200 people on my list of absentee owners. How often should I send YL to this same list of people? If expand my mailing area 50 miles to an adjoing county I can add another 150 names. Is 50 miles too far?

Doug

Hi Russll. I made a simple website from Intuit and linked with a ZOHO database that notifies me when someone has filled out the questionaire. Id like to say it was a huge success but I haven't really done other things to feed the website, somethijng I hope to improve shortly. Anyway I know I need to make some changes to my website but I did look at the Realestate Investors Website.com you mentioned. They seemed to have turnkey website with plenty of goodies. Who did you end up going with?

Great, will do. I look forward to attending the PCREIA meeting and meeting fellow investors!

Doug