All Forum Posts by: Jordan Johnson

After months of research, I took the plunge and sent out yellow letters to the list I put together through driving for dollars. My intention is wholesale any contracts I get. I recently received a call from another investor who owned one of the properties I sent a letter to. While talking to him, he told me not only would he be willing to sell the property I had mailed him about but also the one next to it that he also owns. Both are tenant occupied, well maintained, and he would be willing to owner finance. I have not run the numbers yet so I haven't talked to the owner about price yet. I told him I would call him back in a few days and would schedule a time to meet him. 

Which leads me to my question's. 

1. Of course I'm going to be honest with everyone I deal with, but should I tell him straight out that I'm looking to wholesale or is it best to say I would like to buy with the option to assign the contract? 

2. What questions should I ask him when we meet? 

3. What is the best way to come up with a contract? I've been reading through a few in the FilePlace and they confuse the hell out of me. 

I appreciate any help I can get. I'm very nervous taking the next step in this process. 

 @Robert Burgess:

Sorry I forgot to tag you in that last post. 

I talked with the owner for a good while about the properties and he was very informative. He said he always has other deals going on so he doesn't mind selling these. One property has a tenant of 6 years that he thinks will be a long term tenant. The other has a tenant of 6 months, but he said he may want to do a lease to own type deal in the long run. 

I don't have any exact numbers right now. From what I've been seeing houses in this neighborhood are between $145k and $160. The owner said one unit rents for $1600 and the other for $1800 a month. Both properties have recently has roofs, AC, furnaces, flooring. It sounded like he's maintained both properties very well. So I'm assuming the repair cost would be relatively low, but of course I would do my due diligence before taking any further step in this process. 

So I've already gotten a call in response to my letter. I was terrified to call him back but I did. He was another investor that offered me not only the property I mailed about, but also the property next door to it! Originally my plan was to wholesaling to build capital then purchase rentals with it. But this seems like a great opportunity to get in to rentals. The only problem is the money.... I didn't discuss prices with him, but he did say he would be willing to owner finance to me with something like a $100k downpayment. I don't have anywhere near that much. I've been racking my brain trying to figure out how to make this work whether it be some kind of share funding or finding a partner. Could anyone make any suggestions as far as coming up with the downpayment or if there's a way I could wholesale this property?

Sorry for not updating y'all, I've been busy planning a wedding and got married in the beginning of January. I never got any responses from my first batch of mailers, so I sent out a second batch to the same addresses. I've also continued to drive for dollars and I've built a few other lists that I'm also mailing. Recently my wife and I have been driving and looking on Zillow and other sites, and we've noticing a few properties for sale that have peaked our interest. The only problem is financing. We don't have enough saved or enough equity in our home for a downpayment. I've been racking my brain and looking around but I can't come up with any solutions.

I have been trying to do some business with direct mail. But I had an idea to write letters on 6x9 stationary personalized with my business name and info. I thought it might give the impression that I saw their house and grabbed the first thing I could find to write them a letter. I also thought the smaller size piece of paper might stick out more that a regular sized sheet would. Any thoughts on this idea?

I've been racking my brain for a while now, trying to think of a for my business. I'm wanting to print up business cards and would like to put the name on them. How did you come up with the name of your company? Do you think it strictly has to be something to do with real estate or could be random words?

I sent out my first batch, and I'm still waiting on responses.  My first batch was a small batch only covering one neighborhood I drove. There will be more to come.  I'm trying to stagger them so hopefully the responses will come in steadily and not all at once.  At least that's how I hope it works.  

How has google voice been working for you? My wife uses it for her business, and she says it doesn't always work well for her. 

Thank you all. I'll let y'all know how it goes once the calls start rollin in. I was just on the way to get a PO box, when I realized that I'll still have to pay for postage on each post card. How are y'all going about sending out mailers in bulk, and how much are you paying in postage per card?