All Forum Posts by: Stefanie Perron

Welcome @Tom Heidel.  I am a Realtor in Sarasota, and my family has been investing/rehabbing in the area for over 15 years.  If you have any questions, feel free to give me a shout.  Would you be interested in partnerships or starting on your own? 

Good Luck!

@Brian Moseley Welcome!  I am in Sarasota County, so if you have any questions, feel free to message me.  My suggestion for your build would be: tile.  They will be coming in from the beach, wet and sandy.  Tile is durable and cleans up nicely.  An outdoor area is also a big bonus. 

Exciting stuff... enjoy the adventure :)

@James RitterSend out your yellow letters... don't let others' opinions discourage you. 

You should mail to the same people 2 or 3 times (or more)... keep your name in front of them.. they may not be motivated on the first mailing, but that could change by the second or third.  And they are getting familiar with your brand.

Ideas for future mailings:

Postcards are cheap and people see them before they can throw them out.. and sometimes they keep them.  I love gotprint.com ...they are good quality and super affordable, especially if you're doing the "shotgun" approach.  I have no affiliation with them, other than having ordered my postcards there and I like them.  Have you looked into every door mailings?  It would be offered through the post office, so talk to your P.O. about it... You give them a giant stack of postcards and the zip codes you'd like to target, and they give a discount on postage.. then the mailmen just stick the postcard in every mailbox on their route. 

I haven't done it yet, but I'm really considering magnets (I've heard good things).  They make "lumpy mail" that gets opened, you can just put your biz card on the front, and people may keep them on their fridge. It's a little more pricey, but just a thought.  Maybe save this more expensive option for a very targeted list (probate, etc).

If you have the money, buy a foreclosure from auction!  You can still flip it, like a wholesaler, and gain the experience.. you're just buying from the bank instead or the homeowner.  Just make sure you research liens on the property (other mortgages, taxes, county liens, water, etc)... you may think you're getting a great deal, when in fact you're getting debt.   If you're apprehensive, just watch a few auctions first, before participating... research the houses before hand, find a couple that you would bid on, and then follow them through auction process and beyond (property appraisers site, official records, etc).  

Lastly, @Dev Hornwas right... you will most likely get angry callers if your market is saturated.  They are annoyed at getting so many letters and want to take it out on whoever's letter is in their hand at the time.  Let it roll off your back.

Again, don't let other people discourage you, and keep us posted on your progress and responses! 

And sorry for the long post... I was on a roll... :)

Stefanie

@Jessica A. Smith That first post "I think I'm going to throw up" sounds like something I would say.  Although I PROBABLY wouldn't have been able to answer the phone when it rang!!! ha

I'm going to private message you, if you don't mind.  I have some questions for ya.

Thanks for keeping us posted

Hi Karen 

I've actually gone to a couple of his seminars..  The idea makes sense if you can get in front of the seller.  They would want to deed the house over to you and keep the mortgage in their name for two reasons: 1) they can't make payments anymore (they are defaulted, going into foreclosure, or some type of financial hardship) and are in danger of losing their home, and you would be offering to take over payments right away, so they NEED the relief/help that you are offering; 2) you will be saving their credit.  The lender is continuing to receive mortgage payments (although the payment is coming from you now, the lender doesn't care because they are getting paid), which is getting reported to the credit bureau in the seller's favor.  This helps them if they want to take out another mortgage to purchase a new home. Besides those two reasons, there are also the typical reasons why a person would want to sell to an investor: we can close as quickly as needed, there's no waiting for bank approval, no need for inspections, no closing costs, no commissions, we're not afraid of repairs/rehab, etc etc...

The concept of keeping the loan in their name is called "taking the property subject to the existing mortgage." "Subject to" deals are by no means a new idea. There is actually a section on the typical HUD where you can check the "subject to" box... which is another way to increase the validity of what you're offering to the seller. However, subject to can be tricky because most mortgages have a clause that calls the loan due if the property is sold (you take the deed). He has some little tips on how to avoid this. But, in my opinion, the most difficult part of the whole thing is finding a motivated seller.

Anyways, instead of wasting $$$ on him, just do your own research on subject to deals and other types of "unlimited funding"...There's so much information out there.  If you DO want to listen to him speak, I think he sometimes has cheap/free seminars, but you have to pay for flight, hotel, food... just don't drink the Kool-Aid at the end... er... I mean, don't buy his products or mentorship.  It's not worth it. 

:)

If you want more info/details, or have questions, just message me. 

Good Luck!

BP-ers,

We are doing a 7-touch mailing campaign to people in pre-foreclosure.  For one of the mailings, I purchased check paper (with a perforated check at the top and white space below) and window envelopes.  The "pay to the order of" will show through the window, so hopefully this will be opened immediately.  The letter portion basically says "you can stop foreclosure by paying off your lender, which is where I can help.  I can purchase your home.... " and then references the check.  My question is... What would you suggest I put as the dollar amount?  And what verbiage would you include with that amount, and why? 

I have it on hold since I was going to put a smaller number than the house is worth, but with foreclosures, it's different... I'm in FL where the whole loan amount becomes due once foreclosure is initiated.  Thoughts??

Thank you! 

Hi all,

I am newly licensed in FL, and am looking for a broker to hang my license with.  However, I also work closely with an investor and would like to begin investing myself.  I would like to use my license to increase access to properties for myself and my investor, list our rehabbed properties, etc.  If anyone knows of brokers in the area that would be interested in working together or have any suggestions, please let me know.