All Forum Posts by: Ty Burns

Benjamin Johnson- You can try sending them a mailer to the vacant address and write on the bottom of the mailer: "Return to sender with current address of owner" or something along those lines.

My brother is a realtor and we are able to look up the owner of vacant houses using the MLS. Get in touch with some realtors and see if they will help you out.

Stick to the numbers. That's what it all boils down to in the end. If your comps are solid, then you should be just fine.

Glenn Espinosa- Unfortunately, I have yet to have any agents bring me any pocket listings. That would be ideal. Those are some great connections to have. Hopefully you start pulling down a bunch more deals and things really start rolling!

Steven Del Prete- The first one was a 1851 square foot home. It was a top to bottom remodel. It should have taken only about 4-6 weeks to complete, but we had some major issues with our contractor and ended up firing him. We fell a few weeks behind schedule. The second home is about 3200 square feet and is a complete remodel as well. Actual rehab work is 2 months. 1 month for escrow and we factor 1 month for listing. It will probably sell in a couple of weeks though.

Michael Rivera- Thanks man! I appreciate it. Just be persistent and never give up. If you work hard enough, eventually things will fall into place. Network as much as you can!

Glad I could help out! I hope you pull some deals down soon. Make sure to send them my way first;)

Glenn Espinosa- Most projects are done in under 4 months, but I just factor in 6 months to be safe. I am glad to hear you have a goal of 10 homes this year. Thats awesome! I am looking for deals 24/7! I have been getting alot of leads lately from bird doggers. I do not do much direct mail or anything, but am going to start soon. How are you getting your deals?

Brandon Turner- Thanks! I appreciate it! The first one is on a busier street, so it is taking a little longer than projected to sell. The second one should sell pretty quickly. It is turning into a really nice remodel. I should have some videos online soon.

Ryan Coburn- Thanks! On the first project, we paid 12% and 2 points, all on the back end. The second project was 12.5% and 3.5 points, all on the back end as well. Both lenders covered 100% of the purchase price. On the second deal, we had to have $50k in escrow by the closing date. This was part of the repair money that was distributed on a draw basis by the lender.

Out here in Utah, the contract that agents have to use prevent them from being assigned unless they have written permission from the seller. You are not allowed to put any type of verbage such as "and/or assigns" on the REPC.

Scott W.- The holding costs are my hard money costs. I did not post the detailed numbers such as closing costs and commissions, etc...

Mehran Kamari- The address for flip #1 is 3091 S Imperial Street, SLC, UT 84106. The second one is not listed yet because the rehab is not complete. It should be listed in a week or so.

J Scott- Yes, these costs have all been factored in, I just did not post those numbers. Thanks for the input though! We keep a very detailed spreadsheet of all accumulated and projected costs and fees of all our rehabs.