All Forum Posts by: Curt Smith

Hi Trey, Great going on your flips. I jumped in both feet myself just a few years ago into rehab to rentals. You might look into joining one or more of the REIAs in Atlanta:

http://www.northmetroreia.com/# On the North side. There's a farther North REIA group N GA group, Bill Cook's group where I think J. Scott visits. I do too now an then.

Also the Metro / GA wide REIA I'm also a member:
http://gareia.org/membership/membership-levels/

I'm member of 2 REIAs because each offers different styles of helping me and networking.

Good luck, Curt

Hi Vanessa, Sorry to hear of your negative cash flow situation,, and being stuck with a property manager. We manage our own rentals and thus keep that 10% extra positive cash flow.

We see the cost of finding REO inventory sky rocket and availability drop, but selling prices of finished rehabbed properties only somewhat increase. IE a squeeze on the flippers profit. Rents haven't gone up yet that I've seen. Creative Loafing had a piece where Hedge fund management of their rentals, were jacking up rents in big steps. This hasn't worked through the system if it does at all. To me it "feels" like a glut of rentals in the lower rent area of town. Good school districts will fair much better since there's fewer properties and lower vacancy.

Have you looked into a 1031 exchange of your property for one that is closer so you can manage it yourself?

Good luck, Curt

Hi J,

We've been a fan of your 123flip site for some time BTW!

I'm not at all pimping this service, just that it has to be seen to see what complete automation of website scraping of leads from many sites by hooking those leads into auto-responding, property comparibles, resulting in an offer being mailed out, hands free.

These high end sites do the work of automating the walking craigslist,,, gscca.org, and fetching the security deeds for cash buyers etc etc.

http://www.onlinemeetingnow.com/seminar/?id=ee3031b6a2

I'm wanting to talk to actual users to verify the reality vs the hype. Any tips on how to find users is appreciated. Googling for a few hrs has only turned up very old reviews for freedomsoft..

curt

I'm cross linking to another BP discussion about RE automation and websites.

http://www.biggerpockets.com/forums/79/topics/64071-realeflow-open-road-3x-versus-freedomsoft-vs-sims-2-any-idea-which-is-best?page=1#p496318

Any users out there of Freedomsoft and similar services?

curt

I'm in the market for a product like freedomsoft, realflow (need more though), or a not mentioned product: supersmartwebprofits.com by Duncan Wierman. I'm not pitching this service just wanting to get current users to offer up their real world experiences with all the features: lead generation, automatic offer emailing, etc etc?

tnx curt

After I posted my PS to my topic it occured to me that I'm wanting to setup a highly automated seller screening, buyer offering system integrated to the company's website. I'm certain there's services out there just haven't had luck with google and culling the results. Too many agent side systems, not RE investor side.

Greetings. I gave a few tries to getting my RE company's website up and integrated with linkedin FB etc off the ground be I admit I've always had more to do than learn a ton of stuff. So I'm looking at folk's systems who have it all put together and the various shades of grey.

I've read the other need a website posts here. I'm not looking for just a static WP site with a squeeze page or 2 that emails to my business email. I'm wanting a site that has seller lead culling ability from craigslist and etc, and more. Most folks I think run each campaign and tool set outside their website and mail responder service [aweber, mailchimp, etc] and handle things separately. That probably would be cheapest and I'd go that route if there was a service that set it all up and got it running.

There's the following Cadillac service that I agree would help me make alot of money just using his lead generation and buyers list generation that is integral to his service. But it's of course expensive.

Duncan Wierman is one of those with 100% business in a box solution: $1500/$99/mo pricy but it's all there.

http://www.onlinemeetingnow.com/seminar/?id=ee3031b6a2

The above is very long but you get every gory detail and it's impressive. BTW it's worth watching for the free stuff he tips that is helpful even if you have your own lead generator etc.

Anyone see any ads for similar RE business website and automation? Your review and feed back? I saw one video, a guy with cancer who got emails with checks in the mail while he was lying on his back. I forgot that guy and his service... ;-(

Any referals or helps? I'm very IT/web technical but short on time. So being internet dumb is not my problem (most of the time).

Thanks Curt Smith
Sweetgum Properties

PS anyone see the infomercial video by the guy with cancer who's automated RE system was still sending him completed transaction checks while he was on his back getting chemo? I lost that video...

Greetings, I'm an experienced investor and property manager and am looking to start buying individual non performing notes on properties in good school districts. I prefer Gwinnett, N. Fulton. BPOs in the $45-$75k range. I prefer vacant properties or owners who would give me a deed in lieu.

Please private message me.

curt

Thanks Bill, I did not realize that I would not have title if I ran my note through the forclosure process (GA is non-judicial).

If the property is vacant and the owner is no where to be found our too depressed to talk to you (have this happen all the time) what are the steps to get title?

I think I heard that I could sell/wholesale the property (after foreclosure) for the balance due or any price less than the balance due and the 2nd party then holds clear title, did I hear that correct?

Thanks, curt

I called around today and googled. I ran across a broker, who sold loans through what he claimed the only 2 non-recourse lenders on SDIRA realestate in the country: NASB, First Western.

Please add any other lenders. I'm in GA.

They just don't want to deal with the type of rental properties we hold since the down turn, here in Atlanta ~$40k-$50k purchase + rehab now are worth in the range of $100k thanks to the Hedge Funds buying this summer. They don't want to fool with these nice rentals! Here's what Zooker from NASB said:

"We are currently financing single family income producing property at a maximum 70% loan to-cost, multi–family, condos, and town homes at a maximum 60% (CA, FL, AZ, NV, MI, OH max 55-60% on any property). The loan amount is determined by the property condition, cash flow, retirement reserves, recent property history, and note we have a minimum $50,000 loan amount. The bank fees for a purchase transaction are 1% of the loan amount (1.5% if cash out owned greater than 6 months) plus $695 in processing/underwriting fees.

The interest rates for a non-recourse loan are 4.25% for a 5/1 ARM (fixed for 5 years then adjusts annually over a maximum 20 year time period), 5.625% for a 10 year fixed, 6.375% -15 year fixed, 6.75% - 20 year fixed. Special quotes will be given for larger multi-family property

Unfortunately these do not work as we require a 3 year seasoning period to look at value and even then it can be difficult.

These are portfolio loans and management is more stringent on approval; minimum purchase prices would have to be 70-75k for us to take a look at them"

So from my 2 hrs of research and calling, It's fiction that NR lending is available for typical SD IRA investment rentals, least in the South East where rentals are typically bought for less than $50k. Maybe this info will be helpful for the NY and SF folks where investment property is many times what I paid...

--I'm open to private borrowing, but the lender would have to be content with at most 9% simple interest, no/low points, 50% loan to current appraised value, seasoning less than 6mo.

Good luck folks, curt