All Forum Posts by: Sid Siddiqui

Hi,

Agree with Jon,

For there are two things in these types of deals.

1 - The deed

2 - The note

The seller has to transfer the deed into your/your company name keeping the note/loan in place. So, if you buy subject to, the seller does not have a right to take the house back, same goes with renovations. I always encourage to have a real estate attorney involve in these transactions.

Hope this helps!

Hello Fellow investors,

When I started in real estate business, I started looking at MLS for foreclosures and possible short sales opportunities. After I fixed n flipped couple of properties and spent all of my time and energy, I soon realized that the deals I'm doing are not as much profitable as I would like to see.

So I started marketing on my own to get to the source and negotiate deals and get properties at a wholesale price, I have tried direct mail marketing and kept it under $200 - $400/month budget, I was getting 1% response rate and did few deals that way. Until I finally realized that marketing is a numbers game, the more time and money I spend on marketing, the more response rate and deals I was able to do. Also the key to successful marketing is SEO and online marketing via facebook. I generate more lead with my google adwords, yahoo and facebook then any other means.

This is how I got to generating my own lead machine. Now Every month I perform at least 3 - 4 marketing methods to generate leads i.e. from direct mail /multi touch campaigns to online marketing and bandit signs and the important thing is to keep track of your marketing to see which one is working the most in your area.

Hope this short message encourages you to look into some creative methods on doing your marketing and never to give up.

Remember: It is a numbers game and you will get results!

Happy investing!

@Travis Nance wish you all the best of luck!!

Cheers!

Hi Joe,

Welcome to BP.

I agree with Eric, Now is the right time!

For the reserves, find a local bank and build your relationship. I have a local bank whom I can walk in and shake hands with the president and VP. Share your business plans with them and they will back you up. Another option, depends on the location there are always hard money lenders.

Best advice again would be to have atleast 6 months of reserves saved up, it is also helpful to show the local bank and/or hard money lenders that you can afford to make payments on the loan without any cashflow.

Happy investing and wish you best of luck!

Thank you @Robert Musallam

And good luck to you as well :-)

Thank you @Tim G.

Welcome to BP @Alex Sinunu

I joined about a week ago and the information I'm getting here has been phenomenal.

Explore and enjoy!

Cheers!

Sid

Hey Thank you @Brandon Turner

@Joshua Dorkin

Since I just joined, these newsletters are the great source of information for me. Thank you for sharing this information so I don't loose any valuable information.

Cheers!

Sid

Thank you

@Sandra K Shirah

Hey Omar

Good to meet you here. Let's touch base soon. I will reach out to you!

Cheers!

Sid