vacationlover

Huh??

option8, JMHO, That was some good advice you gave Joe.

Congratulations, Mr. Saint. You're getting yourself positioned very well for the rest of your life in this business. Best of luck to you.

I would try stapling a rubberband to them and attaching them via the rubberband to the front door knob. Hmmm. Actually, this might be a very good way for mamasanta to work within her marketing budget restrictions.

OK, Lonnie. Will do. Thanks.

Lonnie, Thanks for the tips on the mailing lists. However, I checked www.niteowlplus.net and couldn't find a link to where I could generate a list. Could you tell us where to go on the site? Thanks a lot.

Chris, I started using your FSBO emailing technique (with my own little softer, gentler twist to the script) a couple weeks ago. You were absolutely not kidding when you said you got a 50% response rate that way. I have been getting the same results. Thought you might find that interesting.

Don't fret over 1 sign. I know it's a pain when you have to buy another one, but don't let it get you down. As for the business cards, go to vistaprint.com and design your own for about $6 for 250. Can't beat it. They say to allow them a bunch of time to get them delivered to you, but in reality you get them in about a week. Best of luck to you.

Chris, I'm testing your email strategy and just sent out about 30 to local FSBO's with a message similar to the one you posted above. Mind you, I'd already sent out about 100-200 others, stating that I was an investor "looking to add a property to my holdings in their area". That mailing generated almost NO response.) So, thanks for the tip on the softer approach. Here's my first response: The house has been on for about 1 month. It is in a gated community in [city], [state] I would like to sell ASAP if the price is reasonably close to asking price. I am now working with a realtor: Please contact [realtor] at XXX-XXX-XXXX. Please feel free to write back if there is anythig else you would like to know. Doesn't sound much like a motivated seller at this point, and they've now got a realtor involved. But, if anybody has an angle for this one, I'm all ears.

That url isn't working.

Mike and Steve, Thanks for the input. And Mike, today was last night. Thanks again. vacationlover

Michael & Nick, Thanks for your advice. It is appreciated and well taken. First, to answer questions: About exit strategy: I plan to ask for a L/O period of 5 years, with a minimum of 3 years. I plan to L/O out the property on a 1 year agreement, with the option to renew at the end of 1 year. Market rents for that area are $1100 and up. I figured on an exit price of $175K for the first year, adjusted up if T/B'er extended, and ask for $10K in option money with a minimum of $5K. Why did you offer $950/mo, when their payments are $850? I offered $950 because I know I can still get a good positive cash flow taking the property at $950, and to make the deal a little sweeter for the homeowner to bite. Probably could/should have stalled more on the offer. OK. Why did you offer $160K? Did they give you their asking price first? I offered $160K because I had already had one conversation with them and had done the comps of the neighborhood. Their original asking price was $220K, which I told them was not even in the ballpark. They had gotten that from realtor who had approached them (no surprise there). Lastly, (for now, ), I don't fax or email my comps to a homeowner. I'm still debating this with myself. What kind of financing is currently on the property? What is the balance? Then you can find out their equity. Are payments current? What is ASV? Home has a 30 yr. mortgage that is 1 year old. Balance is about $93K. Purchase price was $115K. Payments are current. ASV is $120K. Thanks, and looking forward to replies. vacationlover

If anyone runs across something interesting in south Florida, would love to hear about it. Prefer nice areas, but if the numbers are right, may consider not so nice areas. Will buy on Lease/Option/Purchase, purchase for Cash, and will also consider some rehabs(again, if the numbers make sense). I prefer SFH's, no mobiles. And of course, any leads that result in a deal will be compensated. Thanks, Vacation Lover