All Forum Posts by: Tucker Merrihew

So I tried this once before and it appears I violated BP rules for self promotion of some sort......Anyway here we go again......My team and I have spent the last 2 years building the Driving For Dollars App and it really is a great new App technology. it removes all the brain numbing work that is associated with creating a custom DFD lists, so that you can create the list and begin marketing to it right away. 

Its available in the Itunes Store and Google play depending on whether you have an Iphone of Android. You can also hear all about it on Episode 88.5 of my own Podcast. For those of you who have built your own DFD marketing lists in the past you will absolutely see the value this App brings to our great business. Also thanks for the mention David Dodge.

Thanks for the mention JR Hinds......feel free to check out my own Podcast on Itunes or at www.TheRealDealzPodcast.com

All we do is direct to seller deals deals these days, and I give away a ton of free into on my show about how exactly we do it. If anyone has specific questions feel free to reach out to me.

Technically it could happen......but its an extreme long shot chance that it would ever actually happen. As long as the bank keeps getting their payments then 99.99999% of the time they won't call your note due. I have done it more times than I can count (along with a number of other investors that I know) and never once has it ever happened to me or anyone else that I know of. Its kind of like the lock-ness monster of real estate investing.

Using Direct mail (properly) is going to be your best and most effective way to generate consistent motivated seller leads for your business. You have to commit to using direct mail though in order for it to work for you.......meaning make sure you mail consistently. I have a free ebook that I give away on my Podcast's website (just look at the web address in my signature), and it will give you all the info you need to start using direct mail in your business.......good luck!

I would suggest getting line of credit put in place against your investment property for up to 50-60% of the appraised value. If you have good credit and verifiable income that should be very attainable. The advantage of a line of credit is that you can only use the money when you have something to invest it in (i.e.another property). If you do a straight refinance then you will have to pay interest on the money as soon as the refinance is complete even if you don't have anything to invest it in yet. Plus with lines of credit you should have very little if any closing costs, so in my opinion they are your best option.

If its a brand new listing I would be surprised if you get the bank to take less than full listing price right now, since the market is so strong in most of the country......that and inventory is so low. So if there is the risk of other offers coming in I would suggest offering as much as you feel you can pay so you get the deal (but that doesn't mean over-pay for it).

You can get a lot of free solid information on BP of course......I would also suggest listening to Real Estate Investing Podcast as there is a lot of great free information to be had listening to them as apposed to buying courses.

If you feel so inclined you can check out my Podcast, as I give away a TON of free info that is real and applicable to todays market. Its called The Real Dealz Podcast and its on ITunes.

Keep the sales copy fairly simple and make sure to make it all about the potential seller and not about yourself or your company. Nobody cares that you are the #1 house buyer in your area, ect......they want to know you can close on the day of their choice, no closing costs, no repairs, no real estate commission, ect....

Just keep it short and too the point.......and also remember to stay consistent in your mailings. A crappy marketing piece that is mailed on a regular basis pulls much better than a great marketing piece that is only sent 1 time.

Good Luck!

Do a google (or bigger pockets) search in your area to find who has the best web presence(s) and then reach out to those people. I'm sure they would be happy to talk with you if what you have is really a potential deal......good luck.

BTW I would just search the term "we buy houses" and whatever your town is and you should get some good results to work from.

There is nothing wrong with starting out that way......but one of my biggest issues with people who get into this business is that they treat it like a hobby, and because of that they then get results like a hobby. You wouldn't start any other type of business without having a name, registering it, getting business cards, ect....

I'm not saying you need all of that right away, but I can tell you that if you want to really make real estate investing work for you, then you should treat it like you would if you were starting any other type of business. Fortunately you don't need to put a whole lot at risk to start a real estate investing business......which is part of what makes it such a great business to become a part of.

Good Luck!