All Forum Posts by: Kevin Kaczmarek

Richard, that is the challenge we face. We don't sell but educate at these events. We have brought in Equity Trust to these events to teach about IRA investing, we have hosted home ownership events on land contracts. You are correct, we have to face that skeptic thinking that they are being sold.

We currently use Constant Contact for our 2500 clients. We do vista print cards that get handed out, I mention the events on here, our sales guys talk to everyone for 3 weeks straight about the events, including doing brief intros of the topics in our REIA groups. Finally, we call all our friends and family which is the most effective method.

I like the idea of food. People always love food!

Also, glad to hear that even Rich Dad events get small numbers. Make me feel a little better.

Joe, I am glad you got out of there. I have a different perspective from properties in the Detroit area which can apply for the Canton area. Copper, tank, furnaces and fixtures can be replaced, but a life cannot.
Glad you got out of there and had the authorities step in. Otherwise, nothing is worth the alternatives.

Brandon,

There was a really good blog post by someone on here, but I can't find it, about training your tenants and setting expectations.

By setting a 5 day grace period you are setting the expectation that rent is not due on the 1st but rather the 5th. We put in our rentals that rent is due the 1st and a $60 late fee is ENFORCED if paying after the 3rd. That is the key. By giving grace periods and extensions your tenants are managing you, and not the other way around.
Enforce late fees when someone is past the 5th. If you want to give a grace period, do it one time and then note that so when they come around next month asking for an extension you know to deny one to them.
Give em an inch and they will take a mile, right!

It might seem harsh but in my opinion, you have bills to pay yourself, just like your tenants. Its not like you can call your creditors every month asking for extensions. Sure you can do it once in a while, but it will be painful I am sure.

We do a lot of seminars for free in our area on various topics such as land contract home ownership and IRA investing. Every month the challenge is of course to get people to show up to these events.

What are some effective marketing techniques you have used to get people to show up for an educational only seminar?

Andrew, thank you for your service to this country. Let me know if I ever can be of assistance to you.

Connect with Marc Faulkner on here. He is the note brokerage guru and I am sure a quick call with him will help get your credit question answered.

Hi Phyllis,

We do 70% of our business as wholesale in the Detroit area and I can tell you that things have slowed down a bit in the last 6 months. Local government has programs in place to slow or stop foreclosures around here, and banks are sitting on a ton of inventory but not really pushing it out.

If your repo is in a good area at a good price it will move quickly though. Because of those changes in the market there is a need for quality properties.

If you have anything that you would like us to look at let me know. My contact info is at the bottom. We are the #1 private wholesale real estate company in SE Michigan

Cara,

I know of one in Livonia that owes about $23K in back taxes and is going to lose the property next week. Its between Merriman and Eight Mile area. Let me know if that is something you are interested in.

Big suprise right? Once again the loan mod program just further expands opportunities for investors to help their fellow americans in ways the government cannot!

That actually was not was I was implying. Sorry for the mixup. I was looking at it from purely a wholesale selling strategy. The proof of funds would come from the buyer of the property from you.

Shania, from your follow-up question I would never suggest you use proof of funds other than your own. I would say to never use that strategy (I re-read your question) to mis-represent yourself to agents or brokers that might accept your offer.

Sorry for the confusion!!