All Forum Posts by: Mike N.

Are the responces to the second mailing like the first?

Thank you all for your help.

I need help finding some hard money or private lenders. What is the best way when you have never done it before? I want to try to get the best rate possible. I am currently wholesaling and I really like this deal I came across. I think this would be a really nice investment. I want to buy and hold it but I need to close quickly in about 45 days. Any help would be nice.

Also, as long as you only need 70% or less of the ARV can I get hard money/private lenders with no money down? I looked at some hard money sites and they were telling me that I needed money down. I have good credit. I have always been told if you find the deal you can always find the money.

I am quickly coming to the realization that I will eventually be running out of sellers to direct mail in my area. Does anyone have experience with re-mailing sellers, and what is the success rate compared to the first mailing? If so how long do you have to wait to re-mail them? I thought I heard someone say they mail out to the same folks every 60 days and have almost the same success rate as the first. I just want to make sure it is going to be worth the money.

Another question, does anyone know if I were to use a company name instead of my personal name on the mailings will that affect the responses? I am getting a little tired of irate people looking my name up in the phone book and harassing me at home.

- Mike

The market I am in is not the best but it is also not the worst and it is my back yard. I want to get one or two under my belt before I move outside my market. I do plan to move outside my market once I get a little more experience.

Thank you all for your help. You confirmed what I was thinking.

Would it be smart move to wholesale mobile homes and/or vacant land? I am finding it hard to pull comps on vacant land, and mobile homes sound like they would be impossible to get a buyer for. Thank you for the input.

I am going to start wholesaling in Arizona, and I am currently looking for private lending. I am looking for some lending for contracts that I am unable to get buyers for, or rehabs that I would decide to take on myself. Is there anyone out there that does private lending? Right now I don’t have any properties in the works; I am just getting all my ducks in a row before I put properties under contract.

It is my understanding that private lending is cheaper than hard money loans, is this right?

Thank you for your time,

Michael

Thanks for the support.

Thank you for your input. This helps me out a lot.

Adrian, Thank you