All Forum Posts by: Chris McDaniel

I think every landlord goes through this. I am about to put one of my newly rehabbed houses on the market and I was thinking about doing the same thing. Someone mentioned to me that I try an "open house". I am thinking about scheduling all my showings on a Saturday at the same time, so I don't have to waste my evenings with no shows, since i work a full time job. Great advice though, thanks!

I thought I was the only one who said "y'all" on here? Welcome to BP!

@Michael Noto at least 8 or 10 times. I keep telling him its a mushroom cloud waiting to happen! He has been caught once, but the bank didnt seem to really care, they just basically told him to stop until after the closing. Most of the houses are off market properties, but still.

I would love to hear any horror stories about this? I have a friend that routinely does this, he has been busted by the bank one time, they only gave him a slap on the wrist and told him to halt all work. I keep telling him its a terriable idea, but it seems to be working for him, and he has quite a large portfolio. The day he closes, the rehab is typically finished or almost finished and he drives over and puts his For Lease sign in the yard, directly after leaving the title office. 

Thoughts?

Ok, I dont have a lot of experiance with direct mail at all. But, I am about to finish another rehab so I decided to look up the properties on the same street as one of my good performing rentals. I found about 15 absentee owners on the one street alone. I typed out letters on my computer and let them know I owned another house on the street. I hand signed the letter and addressed it on the envelope with a pen. I got one  solid lead on one the house and if all goes we we will close next week. The guy said that he had gotten a bunch of those yellow and pink letters but mine was the only one that looked like a real person.

I was wondering what every one elses experiance is with hand written letters vs. mass mailers? I'm sure the topic has been discussed over and over on here but I was just curious what everyones experiance is with this, 1 home purchase for the price of 15 first class stamps and an hour of my time seems like a pretty darn good deal to me! Thanks!

@Wayne Prentiss thanks, i checked the county clerks website and found where the deed was issued to the buyer with a price of $83,883 in Nov of 2005. He is telling me he owes $72,500 today, 10 years later. I did some digging around  and interest rates were around 5-6% in Nov, 2005. According to bankrate.com at 6% that would leave a balance of around $71,386, so he seems to be legit?

@Guy Gimenez  thanks for the advise. I am going to try to get it under contract asap, but the seller lives in Maine and I'm in Texas. I spoke with a realtor friend of mine who is going to help me out. Thanks again.

Hey everyone, Here's my question, I just had a promising lead come in on a direct mailer I sent out. They guy is telling me he owes $72,500 and just wants out ASAP. Is there a way I can verify his remaining loan amount? How should I go about this. It's my first promising direct mail lead. Thanks!

Originally posted by @Jon Klaus:

Originally posted by @Michael Noto:

The granite company we use up here is right around $30/sq ft and they always throw in a free sink.

 "Everything's included, even the ..."

 Now that's funny right there.

I plan on being there, this will be my first BP meet up. I plan on bringing a few REI friends that are not BP members, will that be ok?

@J Scott You are right. Well here is the deal, I don't know what to do next. Ive been kicking ideas around in my head trying to figure out where to go from here. I am mostly a buy and hold person and like the passive income strategies. But I have done really well on the last flips I have done, but those deals were word of mouth. So I guess I need to figure out how to find motivated sellers and distressed properties in my market?