All Forum Posts by: Lucas Machado

Welcome to BP & sunny South Florida @Nick Calabro! NJ transplant here as well...Good luck in your journey, let us know how we can help!

Congrats!  Keep up the good work!

@Arthur Leao There are two short sales: (1) approved short sales - the bank has already agreed to the price; (2) unapproved short sales - the owner has set the price and upon reaching an agreement with the owner/listing agent, it must be presented to the bank for approval.

I'm not sure there is a "one size fits all" statement that can be made regarding how far a bank is willing to go on the price.   We've done short sales where the bank has come down 20-30% from listing; I've also seen listings for approved short sales where the bank is absolutely firm on price.

Submit your offer and see the response.  That's the best way to tell.

Welcome @Samer Khatib! One of the biggest REIA's in South Florida, DREIA (www.dreia.org), is meeting on the 20th in Miami Shores. It's a bit of a drive for you, but may be exactly what you are looking for while you are here!

Welcome!

@Abdul Rahman In my estimation, you're questions can't be answered.  Before deciding on a mail piece (postcard v. letter; language on mail piece), first figure out who you are mailing and tailor the message to those prospects.  You wouldn't send a probate letter to an expired listings.  You wouldn't send a "We Buy Houses" postcard to commercial residential owners.

You did note you are looking to flip houses.  I would focus on single-family homes with assessed values / size near the neighborhood medians, non-corporate homeowners, that have owned the property for at least 10 years.

I want to humbly stress though, I would not send any mail until you have a detailed call script, telephone capture system, follow-up system, and a direct actionable plan upon actually contracting with a homeowner.  You can pull a script off BP and other sources, telephone capture system may simply be your personal phone and voicemail (we use RingCentral), follow-up might be a basic excel sheet setting forth call notes and scheduled call backs, and your plan may be to work with an experienced investor or mentor the first couple deals.  Don't start throwing money into DMM until you are ready - that doesn't mean be an expert, it just means be smart with plan.

This is illegal in Florida; and I believe most of the country. 

@Akialah Ansar I can't really speak too much about choosing an area - I focus primarily in the tri-county area and haven't considered moving from it (at least not in the near future).  The only thing I would note about 1-2 hours away, showings/seeing property would be a pain.  Not that it can't be done for a great deal;  but 4-hours (a drive back and forth) for a showing that may not work out is a lot of dead time.

@Daniel Ricci So many meetings in this area. My favorite meetings are: www.dreia.org, www.breia.com, and http://reandb.com

Welcome @Remy Marin!