All Forum Posts by: Morris Lucas

Hello forum!

I was wondering if any investors here have been successful buying deed/title to property from out-of state/inheritance etc owners right before a Tax Deed sale. Here in Ga, there is a listed ad warning owners to pay the lien before the redemption period ends, most case, in a month or so. I am able to get the owner's name and even the parcel address. i thought a good way to approach it would be to offer the owner a good sum of cash to hand over the title and i would then go pay off the lien+fines, etc. I have a friend who actually acquired a property worth 40k this way by buying an over the counter lien.(after paying roughly 5k in attorney fees in foreclosing, etc) I am thinking going straight to the owner may be an even better option. I would actually would this investing strategy to Wholesaling if i can fine-tune the process.

Please share any similar experience you may have!

Thanks for the good information Michael.

I know what you mean about discouragement, as i am really sour about the 100 bandit signs i put out last week with no calls. I ain't quitting though.
I'm starting to realize this business takes CONSTANT marketing to keep deals in the pipeline, not just a one-time push. I am trying to figure out if probate/wholesaling can lead to an ongoing profit that can be transitioned into a full time business or a side endeavor that may pay out a couple times a year. Well, like any endeavor, you gotta get past the initial learning/no profit hurdle...any wealth building system is gonna be a challenge.(which means i'm on the right track!)

Michael;

I'm looking to do this in Atlanta, if you don't mind sharing, I wanted to know

how often do you search each county for leads, bi-weekly, bi-monthly?

What is a good typical mailing number..i was thinking 100-200 letters would be a good response since these are a more focused target of people and proper research has been done.

What has been your success rate from your mailings in response calls/completed deals?

Whastsup, I'm a beginner too, in Gwinnett County, send me an email/PM if you want to discuss some ideas!

Jeff;

I'm sorry, but can you elaborate a little on how you actually make money with the probate property if you don't buy it? I'm a little confused, are you just getting interest paid on the small debt you buy?

I hadn't considered that , you're right. That's why I like this forum, great post

Amen to that! Seems like most people i notice , myself included tend to get into real estate, then stocks, then internet marketing, etc, etc, and leave at the first failure.

I also live in Gwinnett County, Ga and while i don't really aspire to be a full time agent or broker at this point as my primary focus now is cars, i did want to set my sites on completing about 4 wholesale deals a year. (if i somehow manage to do more, great). This is good information, though, i will keep it in mind to track my mailings/signs etc as i go along, and fine tune it to hopefully have it down to where i can streamline it to a proven system. By the way, do you have a set fee for rei marketing consultation? Would be nice to sidestep some landmines, unlike my previous ventures.

Ok you just got me re-focused in a major way. Just hung a bunch of signs last night in the cold feeling like an fugitive hiding behind trees, lol

By u mentioning commission though I assume u work as an agent and don't mean earnings from wholesaling, correct?

At any rate I like the guerilla target marketing concept, I sell vehicles as well and it seems this concept would be useful in many areas, not just rei.

I do this with my commercial expired mailing campaign.I have spent roughly 40 dollars a month over a year and made 6 figures in commission off of it.I track the number of mailer sent monthly,the number of calls or contact received,number of appointments,number of listings,number of solds,and then track my time into each listing to get a return per hour on my time.

?? 6 figure commission on a 40 dollar a month budget? Am i understanding this incorrectly? Maybe your marketing is just that focused and tight, if so, that's incredible.

Edward;

Do you have any luck getting absentee owner leads from your county website or just probate leads? Also, i'm not sure what you mean by mail merge, is that related to your marketing to the sellers? Do you get a good rate of return on mailing your letters overall? I'm trying to decide whether to go mail or signs, as i'm a little low on capital to do both.