All Forum Posts by: Mark Allen

Time?

Steven Chang PM me. I have money and I want to partner.

I have a lead on a manufactured home in Weir, TX. I live in the DFW area, and was wondering if there are any investors in the Georgetown or Round Rock area that are interested in partnering. 

Private Rd. 931 Weir, TX area

3 bed / 2 ba, Asking around $50k, own free/clear, rents in area @ $850-900

It's hard to get comps, but she said it appraised for $56k. I'd probably offer around 40k range for it to make sense as rental or owner finance deal.

Because it's already been foreclosed on you can't negotiate with seller or take home Sub2. You can reach out to Hard Money Lenders or other investors in your area to see if they're willing to fund the deal. It's probably a good idea to have financing in place before bidding.

That's something similar to what I did when I went full force and I got one deal for over $5000... not worth it. The cost per deal should run you around $2k right now. 

If you're going to mail absentee, I'd take a targeted list of 2-3 zip codes you know well. Then, mail 1000 absentee at a time for 5 total touch points (every 1-2 months). 

To my knowledge, the probate information on listsource.com is a month old (or older) and you'll be getting in the mailbox too late. Don't waste your money using listsource probate. If you mail probate, pull them off the county website.

Direct mail to distressed sellers allows you to build and track a sales funnel. There is plenty of info out there on direct mail campaigns.

Jon Villa PM me. I can help.

Are there any commercial wholesalers on BP in the Dallas-Ft. Worth area? I'm looking for properties in the $1M - $10M range. Please send me an inbox message with your contact info.

We do alot of Sub2 wrap transactions here in my area. My attorney has conducted THOUSANDS of these transactions over the years and two lenders have called the note due. The attorney had no issue putting out this "fire" and no parties involved got their asses kicked.

Everyone has their own opinions and some will probably hate mine:

I'd buy Sub2, sell property with owner financing for $60k, take $6k down payment to cover repair costs, and structure a note that will pay off the PITI plus put cash in my pocket. I just closed a similar transaction today with little equity... but I also have support with ALOT of experience in this realm.

Doing on average 10 deals a month in the DFW area and we're growing every week. I'm utilizing a variety of marketing tactics that are inside and outside of traditional REI marketing methods. I'm also always open to adding new sales people that are energetic and have a strong RE foundation. At the rate we're going, 25 transactions per month by 2017 is realistic in terms of volume.