All Forum Posts by: Tony Nguyen

Kobus - what do you send out when you follow up with sellers who have NOT responded? The same letter again or a different letter/postcard this time?

Michael - the 90 day letter switch up, is this for sellers who have not responded or all?

Tin - I used to live in Garden Grove too; back left in end '09! Hot market there. Anyway, 700 seemed a bit over the top initially, but so far i've gotten about 12 calls. Not sure would have to recount. When you said 100 pieces @ 7x, are you referring to 100 sellers or 700 sellers? How consistently are you following up? Do you still send out weekly? What were your results with weekly and what were you sending? Now, to me, weekly seems a bit much! thanks Tin!

Bryan - good to hear from you! Thanks for your advice. I believe that was the article you sent me previously from Alcorn. I will reread to brush up. Also, if I lock in the contract I'll post it so you guys can see =D Thanks again.

Jon - great reply, thank you. I made an offer on the property I wrote about based on the income so I'm on the right track. I wasn't sure though so had to turn to BP for advice.. your advice is always solid, thanks for your time.

Hey guys,

If an apartment building brought in $42,000+ gross a year, but was assessed at $80,000 per tax records, would you buy based off the $42k+ gross income or the $80k tax assessment?

Thanks a bunch :cool:

Hey guys,

For those who have a geographical area they mail to in order to get leads to buy/flip + buy/hold, how often, if at all, do you follow up with them?

I have a list of 700 people i just completed mailing to. If it were you, when would you send out another batch to them? I sent out letters for the 1st round - I am planning to do postcards next, but just am not sure too when.

Thanks in advance!

Larry - what part of CA are you @?

Will - what part of SoCal? That's funny b/c I have a friend over there that has told me the REO market has slowed and prices are slipping. He's in Anaheim. You got 11 going so something is happening over there!

Jeffery - good for you.

Kel - ouch!

yeah it makes me wonder too; there are so many houses right now that can be bought below the cost to rebuild already - how much lower can it go?

In addition, reading the news about Zillows new reports today, I believe they are predicting another 10% drop. One of my personal goals right now is to buy and hold smaller houses - like 75k each - a 10% drop isn't going to hurt too bad. But you're right Ryan, every market is different.

Hey guys,

Since Sept/Oct last year, the foreclosure activity has really slowed down here in Central FL. The courthouse auctions went from 150 sales per day to around 25. The main stream auctions have released less properties as well. I was just wondering if you guys in other markets are experiencing the same thing or no?

This is kind of a good thing for us personally though, b/c due to this lack of new inventory, we started marketing to equity sellers via direct mail, bandit signs, etc... Gotta keep moving!

Thanks for any input :D

Cheryl,

I like your approach. It's conservative and realistic. You're right, not a home run approach, but it gets the job done. Your retirement plan is terrific as well. Thanks for your advice.

Cheryl - sorry for leaving out the details, but its actually 90k amortized over 30 years, due in 10. Is your position still the same about this scenario?