ctrmrz31 0 Report post Posted October 3, 2003 Hello All!My name is Brandon and I am a newbie, but in the last 3 months I have been doing lots of On-the-Job learning by getting out in the field.I have found lots of houses, but am still in search of my first deal. I want to share with other newbies about how I just got out there.I simply drove around looking for houses that I thought might be for sale (which I still do), houses that had yards that were unkept, abandoned looking, and had apparent neglect were prime suspects. I would then write down the address and it's description until I had anywhere from 10 to 30 addresses. I then go to my county appraisal website, put these addresses into the system which is free by the way, This would give me the name of the owner, the tax appraisal of the house and the current address of the owner. After receiving all this info on all the properties, I then look in the white pages for their phone numbers or sometimes I go to the local library and use the Polk directories which one can use to do a reverse address check. This procedure can also be done with the white pages online. All this I can do right from home without spending a dime except for gas that is.After getting all the numbers that I can find I separate them into two catorgories. The first being out of town owners which are more receptive to cold calls because most likely they are paying taxes on something that isn't making them any money and to actually get some cash out of it has a nice ring to it. I then go to the local owners. It wasn't hard for me to call and ask if they were selling because I knew I would gain some one on one contact with home owners/sellers real live folks. I was always nervous, but I figured it was my chance to be the investor I am wanting to become even if it's just for a second. I was surprised by a lot of these owners. They sounded glad to hear from me and others sounded like they had this call before and would immediately set the guidelines for buying their house and i would simply say yes sir/ma'am. The reason i haven't been able to make my first deal is because I haven't a clue what I should do with a contract. I actually got a contract all filled out and sent it to a seller, but I haven't heard from them yet, so maybe my first deal is right around the corner. Anyways, my plan for these houses were to flip (wholesale) them to local investors.So, I have found plenty of houses for sale and owners ready to sign, but my problem is investors. They all want everything all clean and ready to move into, so I thought i would still do this, but at the same time learn this niche called Lease Purchase for leverage in how i can approach the market, versatility.I hope I have helped some of you newbies like myself to just get out there and do it. I did learn a lot from our market area and have lots of people. So I am inching my way to a life in the REI world and I hope everyone the best in their efforts to succeed in this wonderful thing called Creative Real Estate Investing!!!:0 Brandon Share this post Link to post Share on other sites
OnlineSkating 0 Report post Posted October 4, 2003 Thanks for sharing your strategy, Brandon. Best of luck to you, sounds like you will create your own success very soon! Karen Share this post Link to post Share on other sites
Guest Guest_ctrmrz31 Report post Posted October 4, 2003 Thanks for your reply and your best of wishes!I forgot to mention that after making all your calls and you have some folks that you didn't get in touch with, then simply drive over to their address and speak to them face to face or if that's too extreme then writing a letter works as well. I get about 1 answer to every 6 to 8 letters I write and one has to make sure that all the one's contact info is included in the letter.Okay that's enough until I think of some more to say Have a good evening everybody!Brandon Share this post Link to post Share on other sites
allandinger 0 Report post Posted October 18, 2003 Good Job keep up the good work and you will get your deals. If the deals are good the investors will come. Are you flipping to rehabbers? They usually want the worst house out there. Share this post Link to post Share on other sites
Guest Guest_Mark Report post Posted October 18, 2003 You should join the local real estate investment club to find the rehabbers to flip these properties.. they are out there, you just have to find them... Beware you are going to need to buy these properties CHEAP...For example Max Selling Price* : $150,000.00 Acquasition Cost:**; - $7,500.00 Repairs (est): - $9,000.00 4 mo. Avg. Hold Cost: -$4900.00 Min Profit (15\%): - $22,500.00 Misc expenses (5\%): - 7,500.00 Cost to Sell*** (5\%): - $7500.00 -------------------------- Max Purchase Price $ 91,100.00 Share this post Link to post Share on other sites
Chris&Kez 0 Report post Posted October 19, 2003 Brandon, where are you located? Share this post Link to post Share on other sites
ctrmrz31 0 Report post Posted October 19, 2003 I'm in Texas, the state big enough to be it's own country. Why? are interested in selling your house on a Lease Purchase? Share this post Link to post Share on other sites
Chris&Kez 0 Report post Posted October 20, 2003 Interesting...yeah I went to Texas in 2001...I see even the Airport has it's own Zip!I also plan buying enough houses I might get 1 also lol.Nice place....I went south a bit too, lil town in Polk Cty. Sure is pretty country.I have a couple of leads in Tx atm, lemme see if those are still warm/hot.Wanna play? One was 6K down 57K purchase FMV $86. 3/2Kez Share this post Link to post Share on other sites
ctrmrz31 0 Report post Posted October 20, 2003 Hello Kez!Thanks for the reply! So, you have been to this big state of mine, great! Are your leads traditional/conventional deals or would they be interested in creative real estate? Where in Texas are they located?So, your from the Land Down Under? That explains a lot of things about you:) All good things of course!I have been working on my first deal here in West Tx and I have a few live ones, but I am learning that these live ones die fast if I am not quick to the draw. Sometimes it's hard to answer all the questions without putting my foot in my mouth. Experience will be my teacher and yes I might lose a few on the way, but my final objective wil be accomplished.Good to meet you!Brandon Share this post Link to post Share on other sites
Chris&Kez 0 Report post Posted October 20, 2003 Brandon, hmm, west texas Im not familiar with...however, this one was in Dallas//Fort Worth as I recall.Let me know where you want leads exactly and I'll send them through as I get them....They will be open to creative suggestion.... Michael, dont go there LOL I see what a character you are already:PKez Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 20, 2003 They will be open to creative suggestion.... Michael, dont go there LOL I see what a character you are alreadyDamn! I was going to try out some new material, too! -_- Share this post Link to post Share on other sites
ctrmrz31 0 Report post Posted October 20, 2003 West Tx is not exactly a place one would want to remember, so if you have ever been over this way then you got out as fast you could Anyways, the two main cities I am working right now is Odessa and MIdland. By the way our president is from Midland and as you can see he got out as well.Thanks for your assistance and if there is anything this newbie can do for you feel free to ask.Brandon Share this post Link to post Share on other sites
Chris&Kez 0 Report post Posted October 20, 2003 good onya mate, by the way...we have a website also, if I may post the link that'd be good. Just under construction still so a bit empty looking, however, we have a chat module there if anyone wants to use it please feel free to do so. I must let you know however, that we're using the free service right now so once in you might be able to squash the pop ups with your blocker...unless it zaps your chat module too, havent tried yet.go to :http://chatnsell.com/realestatewanted.html thought it might be good if you're on here and see a deal you want more info on and perhaps the author is online as well. Share this post Link to post Share on other sites
