All Forum Posts by: Troy Cole

I'm tuned in!

welcome. @Linda Conrad

@Carlos R. Network at you local REIA too! I just attended my first one and it was amazing, found buyers of properties in areas I didn't expect and all kinds of local lenders/agents and professionals who know a lot more than I do. And some don't mind sharing!

Hope this helped. Keep learning!

Hey BP! 

I'm a new investor trying to figure out how to put together a direct mailing list. I have ads in different places and I get leads here and there but I'm looking to step up my marketing with DM since other investors in my area are having great success with this strategy.  

How do I figure out which homes to mail to in my target areas? 

Any and every bit of advice on this subject is appreciated. 

Thanks in advance!

@Arlan Potter I hear you but this is how I think. If they want 45k with an appraisal at 64k and the house still needs a thousand to a few thousand in cosmetics which always comes out to be about 10-20% more with unexpected issues they need to come down just a few thousand. It's not about the updates they made and the emotional connect they have with the property that's not what adds value, it's the comps in the area. Wouldn't you agree?

Question!

I just evaluated my first property. The sellers are a couple trying to relocate

3bd 1ba

Owned free and clear

Basement

1 car garage

Asking 45k

58k tax value

Appraisal 64k (a year and a half ago when they moved in)

Before updates were made

Updates include

New roof

New siding

New windows

New drains

New gutters

Possible rent in the area

$750-$850/mo

Property needs work on the kitchen floor. (Tile) (linoleum)

They are not open to any creative financing options they are seeking 45k cash because they the $ to buy the new place.

Me myself I was thinking it might have been a great

RTO opportunity but that was shot down as they need all the money for their new home. Maybe they just aren't motivated enough yet. I told them I'd give them a call back later this week.

These are just my thoughts on it but leave a comment with your suggestions please I could use some help.

Thanks!

@JPaul Mills Do you put bandit signs everywhere possible or just certain areas?

@JPaul Mills how did you do 13 deals in your first four months? Are you willing to offer any advice?

Thank you both! @Jade Davis and @Cass R. Smith I do need to find one who is recommended though what I have is a list of attorneys that I searched and put together.

Hello BP!

I just opened my LLC and I'm looking to do some wholesaling/retailing. Also looking into government grants and buying and holding as well. I will have my attorney look over my contracts and paper work that I have also.

I will be meeting with an attorney and an accountant for the first time here soon and wanted to know, what are some good questions to ask them?