All Forum Posts by: Tony Nguyen

Sadly, i have not received the book from Amazon's 3rd party sender yet.. I can't wait to get it though. I'll keep you guys posted =)

Good feedback everyone. I think i'll go ahead and not qualify them over the phone. it does seem a little heartless since the person calling you may be one that's in the toughest situations of their lives. besides, i think it would help meeting someone in person if i'm going to make them an offer and want them to hold a note for me for 10 years! Or of course, buying low to flip.

In regards to the overload, do you guys really think I'll get swamped with too many leads? I'm pretty accustomed to making 50+ calls a day and 8+ appts a day from back in the hay day when i was selling real estate in socal. Maybe I'm underestimating the ROI of these letters? What have you guys experienced in regards to returns on direct mail letters?

that makes a ton of sense Rob. out of curiosity, how many leads do you get with your source of marketing and how much are you marketing? last time i sent out about 80 letters and got 11 calls. To go on 11 appointments with sellers who are tire kicking, doesn't seem efficient. I'm on board with you about building rapport, but time is such a valuable asset for all of us. Something I should mention though is regarding those 80 letters, those were apartment owners, not primary home owners so the process may be a bit different.. Different meaning with primary home owners, there usually is a reason why they are selling and since they are emotional, meeting w/ them in person may be the best way to go. With apartment owners though, they may be all numbers so regardless of their situation, they most of the time won't let go for a good price. Just thinking out loud =)

Hey thanks everyone for the feedback. I'm thinking that I will do a soft prequalify over the phone by asking them why they are selling and possibly telling them a price range that I'm willing to pay. The low end would be my buy to flip price and the higher price would be buy to hold price w/ terms. If they continue to speak to me and want to set up an appointment after that, I will then make the time to meet with them to build rapport, learn about their situations and do my best to make a deal.

Hey guys,

I am about to send out a little over 600 letters to sellers with at least 40% equity in their homes in certain areas of my city to make them offers so that I can buy and flip or buy and hold w/ terms.

Once sellers start calling you, how do you filter out which ones you're willing to spend time making offers to or meeting with in order to view their properties and making appropriate offers? What key questions do you ask to know if you're going to be able to get it at a price you want? I would love to meet all sellers to figure out a way to patch together a deal, but theres got to be a more efficient way.

If it's a flip, of course I need to buy it low enough to make a 20% minimum profit, but if it's a buy and hold and the seller is going to finance it with maybe 10% down, sure I'll pay a better price.

Would love to know what you guys have experienced. Any help would be appreciated - thank you!

13k / 32400 is about 40%. Isn't that about the norm for a 6 unit? If not, for the sake of this analysis, let's bump it to 50% then - $16,200 to be safe?

Just checked county site and 2010 taxes were $2,808.

Tenants pay all utilities except for common area which is about $500 annually.

Thanks Ryan

Listed price is NONE. I've personally never seen that before so I want to make an offer to see how the bank responds. What would you guys offer with the numbers below?

- 6 units, 2/1 each unit
- built in 1985
- Just outside of Orlando, FL (will have very low appreciation overall, if any).
- Only 4 occupied @ $450 each
- market rent for all 6 units should be about $500 each
- actual expenses per seller $12,905
- seller financing, not available

thanks guys :cool:

Chris - amazing link! I really cannot wait to read it now.

damn i just bought it for $53 lol.. but then again, from 1M to 3M and now 5M being the latest edition, it would of been updated, correct?

Bryan - of course i'll follow your advice! Thanks for the chat.

SolidReturns - how about i double your money and give you $2 for the book? =)

Kevin and Jon - you can actually get this book off Amazon for about $50 + shipping. Let me go ahead and buy it immediately since I've now made this public!