All Forum Posts by: Jeff Warner

Call sellers out of the newspaper too, even if it's not a deal...that will give you some practice talking RE and asking questions about property. Just stay confident and you'll be fine.

Jeff

Don't be nervous, your bringing him $$ by finding great deals. I recommend anyone that is nervous about cold calling to work a part time sales job, preferably outside sales. Make 10 or more calls a day and you'll get over your nerves real quick.

Jeff

I don't think you should ever be intimidated or apprehensive to talk to anyone. Be confident and treat him like he's equal to you, not above you. I'd call him, introduce yourself and let him know what you do. I'd also ask him what type of deals he's looking for...some rehabbers don't want any 2 bedrooms or want to stay away from anything more then a simple flip, etc. Also ask if there is a certain area that he likes to buy in.

Don't tell him your new but don't lie and tell him your wholesaling tons of deals either. Just make sure you hustle to find deals after calling him. It's hard to build rapport with someone when they don't hear from you for a few months after your initial call, kind of like starting over. Just have to hustle, hustle, hustle.

Jeff

You've got to look at those homes in a case by case basis. Sometimes it will require a MAJOR demolition, other times you may just need to remove the sheet rock so an inspector can make sure the work is up to code. Step one would be to call Building and Safety (usually who posts those signs) and see why they put the sign up...if it sounds minor you could move forward and see about putting the home under contract.

Either way, as long as the numbers work and the problem is repairable...taking total repair costs into account you should be able to make the deal work. But like I said, step one would be to figure out WHY the sign was put up in the first place.

Jeff

I've never heard of him mostly because I don't pay attention to the "guru's" almost no matter what they have to say. I think whatever he has to say you can certainly save your money and learn it on this site.

Between the articles, blogs and this forum I honestly don't think there are any "secrets" that are not being discussed openly on BP. I know there are some gurus worth listening too but when it comes to putting down your hard earned money on another course "packed with info" you would be better suited to put that money into buying a list and doing a direct mail campaign or putting out bandit signs or both.

In my opinion, most of those guru's are a waste of time. Here on BP we have the privilege of talking with REAL investors on a daily basis. Truth is, there is NOTHING secretive about this business and no course or "system" will ever replace hard work and dedication. If your sending out 500-1000 letters or postcards a month and making offers on REO's week after week you WILL find a deal sooner or later.

I've not yet read Steph's REO book but I plan on it. Another good thing is that she is a member of BP and you can email her with questions...I can't say the same thing for almost any of the "guru's".

Sorry for venting, I can get pretty fired up when someone is peddling fluff and "secrets" and basically taking peoples hard earned $ while giving out info you can get for free.

Jeff

I don't think you'll have any trouble because of the size of the town. If I was you I would branch out into other areas as well. If you have some $ to spend on direct mailing they you can pick anywhere in the country to mail to.

With that said though, you still need to know your market inside and out no matter where you plan on doing business. The good thing about small towns is there is less area to cover therefore you'll be able to learn it quicker and apply the lessons learned to the bigger cities.

Jeff

You definitely need to get out and read signs or stickers posted, if the neighborhood is not comfortable enough to get out of the car you don't want to buy there anyway.

The sticker might be one of those "winterized" stickers notifying everyone not to run water or use any appliances. Those are posted on every REO in my area and probably anywhere else in the country with cold winters.

If it's a code violation like Uwe suggested you can just call and see what was in violation. Some inspectors will give out violations and post a sign that says "This building is not safe to occupy" even if everything is ok. I see a lot of these signs in my area just because someone built an addition without pulling a permit and then got turned in by a neighbor.

Either way you need to write down addresses of places like that and go online to your counties tax assessor website to see who owns that property.

Jeff

My pleasure. Post back up here with what you find. Good luck.

Jeff

Go to your local tax assessor website and see who the owner of the property is. You can then send a letter to them and see if they want to sell.

I would also call the US Marshall and see if they can give you info about what happened...if it was a meth lab I would STAY AWAY, the cost of cleanup will more then likely be too much to deal with. As a matter of fact, I would check with the US Marshall BEFORE sending a letter.

Jeff

Jon,

On average, how many offers do you make to get one accepted? You bring up a great point about commission, realtors love to double dip. Also a very good point about listing agents giving the best deals to the investors that they have rapport with, im sure that happens all the time.

Jeff