All Forum Posts by: Robbie Reutzel

Generally I agree with @Russell Brazil

EDDM can be very good for targeting those types of leads and also cheap. 

To answer your first question, why don't you do less than 6000 pieces if you can't afford it?  It is much better to do 6 mailings to a smaller list rather than 1 mailing to a much larger list. You seemed to have already grasped that concept but maybe not. 

Hi @Brahms Guignard

Welcome to BP! It looks like you already know that this is a great place to learn but if you haven't already, you should read the Ultimate Beginner's Guide which touches on all avenues of REI.

You should definitely listen to all of the BP podcasts as I find at least one nugget in every one.  

Also, set your keywords for areas of REI and geographic areas that interest you.

Finally, find 2-3 REIAs and start going there, introducing yourself and hanging out with people who are doing what you want to do.

Good luck!

Hi Luis,

I don't know from experience but everyone says to be VERY careful about lease options in Texas so please heed that advice.  There are others who know the law in Texas better than me so hopefully they will chime in.

Usually, in a lease option, whether a sandwich or assignment, the buyer is paying you 3-5% of the purchase price up front.  If the Seller won't do the deal without a down-payment, you can give them a piece of that up-front money.  The Seller is then getting monthly rent payments from the tenant buyer and making money that way.  The Seller also makes money if and when the option is exercised.  

As far as contracts to use CONSULT AN ATTORNEY!!!!

In lieu of books I would ask questions here.  Much fresher information from people doing deals.

Hi Gerritt,

Doesn't look like there's much margin here.  Am I missing something?  I also would not take the seller's word that it is move-in ready.  

If you are serious about wholesaling this I think you need someone to take a look at the property and evaluate the rehab even if it's just paint etc.

Hi Craig,

Welcome to BP.  As I am sure you have found this is a great place to learn and network.

Good job joining a REIA. I would also suggest you check out the Black Diamond event in Waltham/Worcester (it switches locations every month I believe).

Keep reading and reaching out.  

It would probably help if you narrowed down your focus to buy and hold, fix and flip etc.  You'll probably get more useful responses that way.  You can also set keyword alerts to areas and topics that interest you.

Good luck!

I would just like to second @Justin Silverio

Justin's quarterly event and the Black Diamond event have no selling whatsoever. The Chelmsford REIA is also light on selling.

Not to say that others don't provide good information, you just have to know what you're getting into. 

@Robert Gorman

Welcome to BP!  

I understand your frustration with not finding deals in the Boston area and why you would look to secondary markets and possibly even further.  It's a very common complaint so you are certainly not alone.

I would suggest you start going to REIAs in the area and networking with wholesalers and other investors who might be able to bring you deals. Unless you're going to do your own marketing, this is the best way to find something workable. The MLS is tough these days.

@Mike Hurney runs a great meet-up you can find out about it at www.massrealestate.net

Good luck!

Hi Aaron,

It is very difficult right now. Many rehabbers have the same complaints. Also, because you are newer, wholesalers will go with who they know will close. Just keep networking and you'll find something. 

Hi Rich,

Is see this is an expired listing.  Are you wholesaling it or just planning to sign the Seller up again?  

I may be interested but not at list price.

Thanks,

Rob

@Chris Piper you are correct that you have no intention of buying the house when you get it under contract. What I believe  Bill is saying and with which I wholeheartedly agree, is that you should tell the Seller you have no intention of buying the entire time.  It should go something like this: "Mr. Seller, I would like to market your property for X dollars to my list of cash buyers."  You should be upfront with the Seller about what you are making in the deal and what your intentions are. It's all in how you frame it.

Also, I completely agree with @Bill Gulley that you should be marketing and networking for buyers on day 1.  You get the buyer's criteria and then play matchmaker once you find a property. If you don't do this, depending on your market, you will probably end up backing out of a lot of deals. 

Your reputation is your most important asset and you risk soiling it if you leave the Seller with a bad taste in their mouth. 

Just my $0.02.