All Forum Posts by: Darren Nichols

So I got my first call today from letters I sent yesterday. The call was from an expired listing and it was listed at 109k but the home value is 140k. I am having trouble getting comps online so I am waiting for my real estate buddy to email me back. In all honesty if the guy is motivated and I know there are a lot of factors such as if the house needs repairs or not is there actually a potential for me to make money on this home?

I do them in house. I figured out a way to do the letters through my scanner and printer so I dont have to hand write every letter and every copy still has red font but it still looks like I hand wrote them all!

Well after about 3 months of education (reading, podcasts, webinars, BP forums, and REI meetings) I finally have sent out my first set of Yellow Letters!!! I made a goal to start mailing 25 letters per week which in stamps is about 50 bucks a month. When you add envelopes thats about 5 bucks a month and paper about 5 or 6 bucks a month. So 60 bucks a month to mail out 100 letters isnt to bad. When I make my first deal even if I only make 500 bucks the ROI is big in my opinion!! I may not get a deal right away and its possible I could send out a few hundred before getting a deal but that wont discourage me!! Now this first round of letters was simply sent out to expired listings since I get those for free from an Agent. My next round will be to tax delinquent properties since the county auction will be happening at the end of May. I also want to target Mortgage defaults since I can get that list free from title companies websites. If anybody disagrees with my aporoach please tell me and let me know your thoughts dont pull any punches. Any feedback, suggestions, advice, tips, or tricks would be greatly appreciated!! I am really pumped for what is to come in the near future!!! Thanks BP for introducing me to the great world of REI!!!

@Account Closed Dude thank you so much for finding that! You don't even live in Utah and you found what I have been looking for all day! It actually has a place you can click tax sale listings and a list pops up and its current!! So would the best course of action be to just send yellow letters to those addresses and wait for calls?

Yeah I guess I will have to dig deeper. I have called my county and my neighboring county and they just say there is no list but I guess I will need to figure out who does the sale like you said. I still haven't done a deal yet but have been preparing and doing this for about 2 1/2 months but I am trying to figure out the best avenues for me to focus on. I get expired listings from a realtor friend and I have been able to get mortgage default lists from a title company website and I think the tax delinquent would be good too. My goal is to send 25 yellow letters a week starting next week (for the first time). I just want to make sure I am sending out letters to the best avenues. Sorry for the ramble and it's not even my post LOL

@Ned Carey I myself found the tax sale info on my county website and I guess my question would be as a wholesaler can you really go after those? I may be wrong but those tax sales are auctions? So as a wholesaler trying to get a property under contract in this case would be out of the question. I heard on a podcast a while ago that tax delinquent properties could be a good resource but it seems most counties don't provide the list just info on the tax sale.

Yes there are monthly meetings that are free I have attended one so far and will attend another one this afternoon. I will become a member of SLREIA once I start making some money wholesaling!

Thanks for the info guys so I am a new wholesaler that is why I was asking for that particular info because I have zero knowledge of repair costs but that isn't going to intimidate me. I will learn from those that know!

So I am just wondering what the average cost is for a General Contractor is to come and evaluate a property that I am attempting to get under contract? I am sure it may vary based on the property and time spent. I am mainly wanting to look for someone in Utah for my first few times until I can get the gist of evaluating properties myself. Thanks for the input!!

Good info thanks a ton Gary!!