DeeLight

lol Steve. I always come here for my morning giggle and l/o lessons with my coffee I had a lady respond withing 5 min of getting my email. She and her husband want to relocate---their daughter just died unexpectedly. I expressed my condolences and sent the LPA letter. I feel that there may be too many hoops here but thot I'd ask anyways. The house is $425k, a large 2&2 (gorgeous) with ocean views. I'll check out the comps and frv. They just listed with an agent because they weren't having luck selling fsbo. They will do a l/o "with a large down and close in 2 yrs" I didn't ask what a large down was. Should I get on the phone with her? Thanks everyone p.s. just re-read her email to me. maybe they aren't motivated enough yet---they owe nothing on the house. They just want the large down to buy a new house in AZ

Steve, thank you so much for that excellent explanation. That was inspiring.

That makes perfect sense. I wouldn't want anyone taking a contract out on me becuz I sent them one too many emails

Thank you Michael, and we do keep sending the repeat emails to the "not interested" group----maybe every month??

Yes, Michael that's kinda what I thot. Thanks!

I got another interested seller. He said, "it's possible but, what are the terms? I will send the 2nd letter. He also said "It is currently rented for a period of 6 Months minimum. Great Investor Potential. Currently rented at $1450/Mo " I will check the rents in the area when he expresses more interest. I'm just wondering how that would work if he did want to proceed. Oh and I just got another one wanting more info. One day one of these is going to be the real thing and not a fire drill and then I'm gonna be on the phone with them. OMG I have butterflies and such stage fright. lol

Hi David, I hope you're jumping in all the way this time. I think that this market is a good one for many of the r.e. niches. I am having similar success with the emailings. I did get one this morning that is curious. I had a couple last week that didn't work out. It's a numbers game and takes diligence and tenacity. I used to do direct mail to preforcs and each post card I wrote I would say I'm one step closer to finding a seller that is happy I contacted them. The game is called "Find the needle in the haystack" or find the seller in all the hundreds of CL ads. It sounds like you're doing everything "right" and that you just haven't found the right seller yet. With the lady that you've been communicating does she think if she can just get you to see her house you'll fall so much in love that you'll buy it conventionally? MC says we shouldn't spend our time running around looking at houses. The lady is either motivated . . . or not. I've been told by experienced investors over the years that when you get a motivated seller on the line you will know it. I have just started this l/o adventure so I am just following the path lead by others. Someone else may be able to give you some perspective with meeting with people who are just curious. How many emails have you sent out so far?

Hey John, Inquiring minds want to know. You have us in the palm of your hand. We're waiting with bated breathe (what is that anyways?) Which worked better of all your goodies, brochure pcard #1 or #2. Pleeeese do tell

Hey Steve, Bear with Ms Noob here for a min please. I know we can offer them fmv but how do we offer them above mkt val. Thanks!

ohhhh that's the answer I wanted to hear yay! (dancing a lil jig here) I didn't want to be driving all that way. Excellent ideas and very kind encouragement. You are my hero Michael!

Yes Michael, it's on the mls----for 77 days. You could be right about giving them ammo in the deal. It could go either way; no way of knowing. I'll sent them a series of postcards and see what happens. Thanks!

Hi John, Thank you very much for this info; it surprised me coming from a direct mailer! I love dm. I'm gonna play with this as one of my advertising streams next month. You share so much good stuff here John. May you get 100 times the return for the value that you deliver to people realllly

Great ideas Charles! I hadn't thought of working with agents in the locality. Do you have to spend a lot of time getting a good one or two? I am going to call some local r.e. offices and find out who their resident newbie is; they're usually motivated. The title co---how did you find one that you like. I have one a couple hours away---haven't worked with him yet but he is SUPER at working with investors---many testimonials. Have you been happy with working ooa? biggest disadvantage??? very curious Keep us informed as to how your journey is going ok Charles? Thanks for the help.

Yes, he is awesom possum! btw I just got the invite to the halo presenting ceremony when they give him his crei angel award.

So reality bites----oh that's right it's reality bytes---I like the 1st spelling/meaning best today. I was writing in my biz journal keeping track of my path and realized that if I get a house 2 hrs away in a farm area I will have to travel 2HRS each way to put up signs to sell it; then go back for open houses. sheesh Is anyone else doing properties ooa? How do you work it? Another question. There are about 6 posts in my area CL that advertise owner finance or the possibility of a l/o. I'd gladly bring them a tenant/buyer if I can out market them. Would I set that up as a CA like we would with anyone else? There would have to be clause that said that they would also be able to continue to sell the house, right? Thanks!

Soooo, I've been kinda obsessing about a property. I know it's against the rules. BUT I lost this house back in 1995 due to hardships in my life----I had to just walk away from it. I had bought it from the owner on an aitd and made payments for 3 years. I just handed it back to her (oos owner). She sold it again to another couple who are using it as a rental. It has been on the mls for 77 days now. I am going to mail them at their mailing address. If this were you would you say anything sentimental about the home---"It used to belong to my family; we had so many great times there". Or just treat it as another mailing to a landlord. It may seems obvious to you----but as you can see I still have heart in that home. I can get over it but not without giving it my all. My dream is to own that house again. Thanks for your thoughts.

OmyGOSH! This is an exciting thread! I looooove direct mail---not the coast but I had great success with it 10 yrs ago. Pilot I will check out your website and classes. I don't have the money for it right now but that will change soon. I always hand addressed my envelopes---I'm surprised you use labels. Can't wait to see what you have goin on! Thanks everyone for this thread!

Hey Thanks so much Pilot!! That is useful info---do you think that's California too? Sooo, with all the experience you have are the l/o's pretty easy to you now?

Yes, I got your pm Michael, thank you so much. I am waiting for a call back from the seller. We'll see. I'm thinking he's not quite in realityland yet. I'll let everyone know when something happens.

Wow, I sent out 12 emails and got 3 responses! This is too much fun. We'll see what comes of these; 3 completely different scenarios. Lots to learn ; >

Hey gang, i sent this to Michael but then thot it might make a good lesson discussion here in the forum. I am still not sure what can and can't be done with crei. There are many strategies that I haven't studied yet. I know I've read about investors that go on deed and take partnership in a prop like this scenario---I don't know how to do it tho. So here's what I found on CL: There is one comp---sold at $212 a couple months ago. It looks like an investor comp tho cuz it was sold by a home auction & realty co. $249k 2 + 1 1/2 nice condo 999 square feet, 1 year old carpet and tile, double pane windows, fireplace, grassy areas outside, not close to a bunch of others ....this complex only has 5 condos in it and the owners are the association. The association fee is less than $250 a month .... Need help, need someone to purchase for $249,000 right away so I don't go into foreclosure...been on unemployment over a year and finally got to where I can't make the payment....Owned the condo for over 10 years and hate to let it go. Need to come up with around $35,000 at least to put it back online and rent out or perhaps bring a partner in to help get it back online. Things are going back up and at one time this condo was up to $550,000, should have sold it then! Oh well, maybe there is someone out there wanting a small beach get-away vacation home! Really cute place - has a single car detached garage also. Thanks for inquiring and will send pictures to those really interested. I emailed him but considering his sitch I don't think a l/o will work. Any thoughts? Thanks!

Thanks Michael. I will be talking with her a in a bit. Interesting that I found a house that would almost fit her desires BUT the owner is waiting for the contract & money to arrive soon. He said he's open to a l/o and would keep me in mind as a plan B. What is the current amount of the option money---I know it's all negotiable but is there a basic rule of thumb?

I was going to wait a bit more til I got more comfortable with all the parts of a l/o BUT I saw an ad this weekend that said: $500K to $750K Private party looking for creative opportunity to purchase single level, single or posssibly dual family residence, with 4 BD/ 2BA minimum, no heavy car traffic, no pool, no HOA. Santa Barbara/Goleta. Up to $750k price range or maximum mo payment with taxes & Ins 3500-4000mo if residence has income opportunity avail. OR $500k-550k 3bd/2ba for property without income potential. All Inclusive Trust Deed (AITD)? (do an internet search for explanations) Owner Financing? Assumable Loan? Me take over payments? Lease with option to purchase? I am a private party. I HAVE DOWN PAYMENT MONEY. I am open to exploring mutually beneficial opportunity. Please email. Realtors with suitable opportunity cooperated with So I left her a msg. . . and she called me back today. Get this, she is a financial investment adviser. She just finished her bk last month---marriage gone bad story (been there, done that). Anyways she said she wouldn't want to lose her option money even tho she has about 15-20k for it. She says there is no way she will be able to qualify in a year or even 2. She is just getting ready to sign a lease on a house---she will be paying $3500 in rent!!!! she'll rent out a room to take the edge off. She sounds like the real deal and she prob knows more than I do about all this. Is she right is there no way she would be able to get a regular loan in a the near future? If I can find a prop for her I'd just turn her over to the seller. I may offer her some credit repair services tho. Whatcha think oh knowledgeable ones? Thanks!

A check for you or one to them?? Seems they always want $$$ but who am I to talk . . . I want lots of it!

:lol: I don't know how old yours are Michael, but mine are finally getting to the age (30s) where we can be friends. Good stuff. Heck when I get a place down there they might even move on down too.