All Forum Posts by: Melodee Lucido

Melodee Lucido has started 43 posts and replied 342 times.

Christopher,

You can get that info here at BP for free if you do a search on direct mail. The experienced members here will give you all you need to get started. Or you can contact @michael quarles to set up your mailing. He will tell you the right criteria and you can choose from his letters or postcards. You can check out his site at yellowletters.com. I receive nothing for recommending him.

You will spend a LOT!! of money on direct mail. I don't know what Kathy can be doing to charge that kind of price for information (yes, I am a bit curious) but until I am getting good responses from my regular mailings; some better than others of course.

Sharon has good letters to mail to probate leads also---for free.

There are a lot of people that have something to sell Christopher. Until you are making consistent monthly income I'd put all my money into marketing---oh wait, I already do ;-) Maybe someone here has purchased her product and can chime in with the value they did or didn't receive.

Best of Success to You!

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Originally posted by @Jay Hinrichs:

@Dean Letfus

let me add a few to your list Dean

KC,, Rochester,, INdy, St Luis , Atlanta, Philly ( see west coast marketing companies on BP that hawk that stuff).. The hood is the HOOD end of story.. We did a large amount of bizz with Aussies for years.. the sales from there is but a trickle because they were abused so badly by Aussie and US wholesalers that again in my mind were criminal is not sociopathic in their approach and not caring.. I spent years posting on AUssie forums.. Just like BP I have nothing to sell.. ( as you know I just finance flippers US wide) but I don't have anything to sell to end users. And the horror stories abounded...

NOt sure what to make of it all. But at the end of the day the statement @Melodee Lucido

makes about her filling a need on low end houses just does not ring genuine to me.. She knows that these investors not only are NOT going to get half of what a better property would bring but in all likelihood will loose thousands if not the entire investment over the course of the investment.. Seen it first hand to many times to count.. No one can BS me on this fact. And I know its a ra ra section for all of you guys on BP trying to sell this stuff.. from the NOn licensed agenst in LA who post on here every chance they get to the turn key companies that are flash in the pans.. there is a reason banks don't loan in these areas.

End of the day its all about money and greed and duping the poor investors who just read the blue sky BS that is bandied about on this site how your going to get rich buying and holding cash flow property and because everything is so expensive in LA you MUST come to Memphis and buy dirt cheap pieces of crap houses. That will bleed you to death.

There is a reason there is so many low end crap houses avabliable because landlords FAIL everyday of the week. and those that promulgate these areas are FAR WORSE THAN ANY GURU THAT IS vilified on this site.

Ok so maybe I have a strong opinion on this but it is the other side of the coin that no one On BP ever talks about or if they do its all soft balls... I am sick of seeing nice investors getting hosed buying stuff form these folks they should never buy in the first place. Do you guys not realize this ruins families at your expense.

@jayhinrichs

I totally understand and agree with your view and strong opinion. The buyers I am speaking of are the good ole boys that have been in Memphis forever and know what they are doing and are happy doing it. I guide my international buyers to the better areas.

There is a saying, "For every Jack there is a Jill" and in real estate "For every house there is a buyer". . . at the right price and with full disclosure.

And I really don't care if you think I am genuine or not :-) My buyers love me and I sleep very well at night.

Best to you Jay

0 Votes

Originally posted by @Jay Hinrichs:

@Melodee Lucido

at least you did not say you sell 10 properties a month LOL.. that's the usual mantra from TK companies. then when they get bit its 10 houses a month.

having been in and around this since the beginning ( 2002) well basically the beginning there are far and few companies that could do 10 a month and very few that did more.. I have funded many that did 5 to 7 and last year my star probably averaged 15 but they were rock stars.

Not sure whats going on in Memphis I have done some bizz there maybe 100 deals over the years all I know Is if you buy low end in Memphis you mine as well throw your money down the toilet. Frayser et al I took properties back there and its a freakin nightmare of epic proportions.. it was mainly the GB marketers that hooked up with terrible US partners that sold that crap. I don't mean to tear anyone down but lets just call it like it is.. Hood rat houses are not appropriate investments for anyone who does not live an work in the area and stay on them like a hawk.. much of what gets sold in these areas TK if its low end is really really bad investments. and only you the TK operator will make money your profiteering on good honest AUSSIES or GB's or SOCAL folks.. so look within

@JayHinrichs

I have buyers that will buy in Frayser all day. That is their business model. I may not agree with them but they are happy to purchase the houses at the right price.

Any money to be made by hoodwinking (old word for CHEATING) an innocent uneducated buyer will not be found in my pocket or bank account. I am building for the long term. My potential buyers know I am going to give the straight truth. Sometimes they come back to me months later and say they are sorry they didn't listen to my advice because they are stuck with non performing disasters.

I would love to do 10 houses a month but would rather do 4 solid deals that work for every one and keep my buyers coming back for a long time :-)

Continued Success To You

0 Votes

Originally posted by @Alex Craig:

@Melodee Lucido and @Account Closed

Although I have my doubts that a out of state wholesaler truly understands the Memphis market, I would appreciate if you could send me your offerings when they become available. I only say that because I have lived in Memphis all my life and even before I got into Real Estate investing, I knew that one street in Memphis can be good, but then travel a few blocks and the area turns quickly. A prime example is 38107. Go South of Jackson Ave and a 3/2 home that is 1,600 square feet will appraise and sell to a owner occupant for $150,000 to $190,000 and that house for a investor will rent to Rhodes College Students for $1,300. Go North of Jackson Ave and owner occupants will not touch the area, nor will the Rhodes College Students. That same size house will sell to investors for $69,000 and rent for $850. You would think the "North of Jackson" house would be a hood based on what I said, but it is not on certain streets (yes, one street makes a difference). If you get on the right street, that $69,000/$850 rent house is a pretty solid cash flow deal. The problem is out of state investors go on sites like Zillow and have no idea that 1 street makes a difference and that is where they get took. They buy that $69,000 homes from a individual who paid $15,000 and the realistic rent is $695 and once the home goes vacant, the AC unit is gone and the property is vandalized.

Memphis can be fantastic if you are aligned with the right people who will put the investors best interest in front of their own.

@Alex Craig

My team of associates grew up in Memphis and have educated me very well. I know what you are saying above is true. I act more as a consultant than a wholesaler. If someone wants to buy a property just because it is $8k I make very sure they know exactly what, why and where the property is and what they can expect if they buy on "that" street.

We work with full disclosure as our platform in building solid long term relationships with our buyers and prospective buyers. I have talked many people out of buying a property because it just wasn't right for them I tell them, "I would rather you wait for the right one that make a quick fee selling you the wrong one".

I also work with experienced buyers who know exactly what they are buying and are happy all day with 20-22% ROI----even though you and I know that after a year or two and all the vacancies, trashed houses etc the roi and it is barely more than if they had bought in a better area with a much lower roi. But that is their business model and they are happy to buy these.

Being from Southern California when I saw the prices in Memphis I was blown away and thought props for $23k were a steal! LOL, you can't even buy a shack for that in SoCal. I was quickly educated by my associates what the truth was.

Our PM walks every property before we sell it. He gives us a list of what is required to make it TRULY rent ready.

Most of my good properties sell before they get to my mailing list. I would be honored to work with someone as experienced as you Alex. If I get a juicy one that isn't pre-ordered I will definitely send it to you before I market it.

Continued Success to You!!

1 Vote

Originally posted by @Curt Davis:

@Melodee Lucido

You state you sell in good areas. I guess that is a matter of opinion but you ask any other legit seller of investment property in Memphis and if they were to see your postlets page they would disagree with your statement about good areas.

I should be taking marketing tips from you as if you actually get repeat buyers I am impressed!!! There is no way possible they are having great success!! I know one of the top turnket providers in the Memphis area who specializes in the lets call it $50-$60k range and he has an average of 40% late paying tenants every month, I doubt your figures are better then that considering you are not here managing the homes and most likely dont to as good of rehab as he does.

Do you have a coaching program I can sign up for?

Curt, you spend so much time here on BP trying to get into debates and tearing other people down that I don't know how you have time to work lol,

You know nothing about me or my business. I didn't say I ONLY have props in good areas. I have buyers (and yes repeat buyers) in all price ranges and areas. Many of my properties sell before I even advertise them. I know just which buyer to call and the property sells quickly.

I don't need to prove myself to you :-) I have excellent teams in Memphis and international buyers that allow me to close 2-4 properties per month regularly. I am very happy with the business I have worked hard to build; it is very rewarding.

Question all you want. I'm going back to work :-)

1 Vote

Thank you Derrick for your kind words.

I do offer turnkey properties at 70-80 cents on the dollar---most in good areas. I am not a strictly turnkey company----and yup, maybe I am small time. I consult with different buyers out of state and internationally and make sure they don't end up with problem properties---unless they don't mind that.

Everything @Deanletfus has said here is absolutely true. It is growing harder to find the great deals in great areas. It is easy to look from the outside in and think there are great deals. great prices etc. It looks different from the inside!!

Dean is a great person to work with, is very fair and truly knows this Memphis market. He is not the only person I work with but I do enjoy it when we work together.

@curtdavis business in this market (in any market) is best built by forming good relationships with the leaders in that market. If you have never had tough classrooms to learn from (i.e. bankruptcy, illness, catastrophe, et all) then maybe you haven't been playing big enough. You definitely have no right to criticize another's path of learning. I am not saying it is necessary to experience those challenges but it isn't good to judge another until you've walked in their shoes. Then again----each to their own.

I was living high on the hog a few years back and then health issues took me to my knees and I lost everything. It has been humbling, and now joyful, to experience recreating myself yet again. Life happens.

Soooo to get back to the OP. @Karlsmith, Memphis is a wonderful market. It's best to take time to get to know the people working hard in this place. There is money to be made here---but it's not 2013 any more :-)

Best of success to you

2 Votes

Roosevelt, that is a story book scenario. Memphis is a great town to flip houses in; but it's a business. Profits are made knowing the market, knowing the numbers, finding motivated sellers and working your tail off ;-)

Best of Success to You

0 Votes

Hi Rodney,

Welcome to BP. You're gonna love it here.

I will never forget the 1st time I was driving and saw Mt Shasta. It just didn't look real because it so totally gorgeous. Lovely place to live.

I have worked in the Memphis market for almost year and a half and it has been very good to me and the group of investors I work with. If you have any questions let me know. We work with turnkeys and rehabs. I LOVE Memphis!!

We also just got into the South Bend Indiana turnkey market. It looks very strong!

DFW is awesome. We do some business there. The market is HOT!!!

I always tell new investors to take their time and to enjoy the journey. I encourage them to be the tortoise not the hare :-)

Best of Success to You!

0 Votes

Hi Matthew,

Welcome to BP and the amazing CRAZY world of crei!

For a good start, have you read this?

http://www.biggerpockets.com/real-estate-investing

And I love that search bar!! I get lost for hours studying. Don't rush, enjoy the journey.

The forums and podcasts become a part of daily life and provide so much education and FUN!

Glad you're here.

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Realllly? Why bother even thinking about it???

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All Forum Posts by: Melodee Lucido

Melodee Lucido has started 43 posts and replied 342 times.

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