All Forum Posts by: Jessica H.

Thats great derek! Do you just do rentals?

Thanks everyone for your responses they are very helpful! I do think I will tweek my letter a tad. This is one stream of marketing we are beginning to implement not the only one. I think all the other options available to work out a deal are great once we get our feet wet a little here and I am able to learn more about them and how to implement them. Thanks again!

I guess maybe we need to just explain a little more what we buy on the phone? Anyone have good words they use when a absentee owner calls from a yellow letter, ie. how you explain you don't buy retail but at a wholesale cost???

I sent out 80 letters.

We just sent out our first batch of yellow letters to absentee owners that i hand wrote, basically saying " we noticed you have a house at 123 Main street, if you would consider selling please call us, we pay cash". So far we have gotten 4 calls and I sent them out 2 days ago so i thought that was pretty good!! However 3 of the calls have been people asking how we got their info., and a little disgruntled once they found out we would not be paying retail. So is this par for the course for letters to absentee owners? Or should I somehow in the letter be letting them know that we are looking for distressed properties or looking to buy properties cheaply? I guess that is the hard thing with mailing to absentee owners you never know why they might be motivated to sell , it is not always because the property is in disrepair so that was why I didn't include anything along that line in my letter. So do we need to just let this roll off our backs and say "next" or is there something wrong with the wording that makes people think we are somehow looking to buy for retail??? Thanks for any insights!

I was wondering if you could tell me the best places to get cheap yet good quality products for: hardwood flooring, carpet, cabinets, granite counters, vanities, fixtures. I know some of this will be locale specific but I also know there are a lot of online stores and common stores that a lot of locations have.

Thanks!

My husband is part owner of an investment company for flipping houses and is currently the one persueing his license. However, I have been wondering lately if it would be better if I was the one who got the license mainly because we are doing a lot of direct mail and it seems like these people do not want to have to deal with realtors and maybe it would just be easier having someone who is not technically the business partner as the one with the license? Any thoughts??

The house is bone dry, it has the asphalt paper and has already been prepped for stucco with the wire mesh, it has shingles on also. I think you just confirmed what we were thinking that we would have to get it for a lot for cheaper for it to be a deal and even then i am not so sure about taking it on. Thanks

My husband and I are newbies to house flipping and are trying to see if this house is a deal or not, maybe we could get some insight. In our neighborhood there is a partially finished house built 2006 that has everything done BUT rough electric, plumbing,HVAC, sheet rocking and all the finishes ( flooring, paint, kitchen, baths, etc. ) Also needs siding, driveway put in plus inspection costs. It is a big house 4000 square feet but built very well. The owners had it done custom but are in the middle of a divorce and can't afford to finish it. They are asking 185,000 ( we could go lower, how much?) with a selling around 380,000-400,000 on the low side. My husband has construction experience but not as extensive as this house would need, we would be contracting out most and doing some of the finishing ourselves. So does anyone have a ballpark of how much it might cost to finish a project like this? we were thinking $150,000 plus add on holding/closing costs and then I really don;t think there is a lot of room for profit unless if we got for a lot lower which I am not sure would happen. Any insights?? thanks!!

Hi my name is jessica and my usband and I are new investors in eastern PA. we are very excited to get started with flipping and then move to holding some rentals. we are still looking to get our first deal but have made a few offers that have been rejected...sigh...all a part of the game right?? Hoping to make some connections and learn from everyone here!