All Forum Posts by: Jimmy C.

So I shouldn't send a letter to these folks to fish for a private mortgage?

Gotta take them to dinner first? Meet their family? :-)

Everybody wants to buy. NOBODY wants to be sold.

I agree with most of the sentiment here. If the average salesman just took some time to build rapport, they could leverage this community to generate future sales.

Well, I had never heard the term before now. But a guy explains how to get paid doing them in this thread:

http://www.biggerpockets.com/forums/93/topics/73067-whose-familiar-with-back-flips

I have used Youtube videos as well. But not really for marketing purposes. Usually its to send to prospective buyers who are out of the area.

Most will still fly down to take a stroll through the house. But its a great way to show them the work that needs to be done.

So wait a second here folks. How do I raise private money for rehab projects, and/or cash flow properties?

I am in an area where 700+ private mortgages were written in the past 4 months. And I am in possession of a list of all of those transactions. It includes their names and addresses.

What can I do with it that wont get me in trouble? Can I do direct mail? Or do I literally have to track these folks down and try to introduce myself?

I have never had rentals. But I would love to keep them (if I had the ability to leverage them)

So jealous of the end buyers right now. They really are future millionaires!

$2k-$10k prices on CL? Sounds like you maybe going to the hood. Its best you do a physical inspection. Take a contract in case you want to tie it up while you are out there. Just tell her you will be coming back with inspectors, partners, and other various people so shes expecting it. Most investors know to keep their mouth shut if you prepare them for the walk through.

Pay for a home inspection if you have a good deal.

If you are still unsure, just low ball like crazy, and include and inspection period in your offer to make sure you have an out.

Emailing you shortly Mike

I have been wholesaling for years. I do NOT provide ARV or rehab estimates AT ALL. Sure, I will tell people what needs to be fixed, and what will need to be (how long a roof may last).

What I have found that every buyer looks at rehab expenses differently. Some do the work themselves. Others hire general contractors. Some people get bargains on cabinets, appliances, etc... Some people just go into Home Depot.

Also, I am not typically selling to a rehabber. I usually am selling to buy and hold investors. So the ARV stat isn't as important as rent estimates, and cash flow are to them. Sometimes I will get a question about the ARV. I tell that buyer to do his due diligence prior to submitting his offer. Its fairly simple my way, and I like it.