So as I promised at the beginning of the year, I’m going to pull the curtain back on a lot more of my day to day business. Otherwise this blog is going to die from my boredom. So, I here now disclose more to make this more interesting to contribute to and for you to read.
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Last Weeks’ goals:
1. Submit a total of 20 offers on MLS properties FAIL
2. Submit an offer on at least one REO property FAIL
3. Make at least one offer on a FSBO FAIL
A week has passed and I’ll review my one-week goals due today:
Tasks:
1. Make at least 10 offers on properties listed on MLS – FAIL
2. Brush up on REO literature so I can start making REO offers too – PASS
3. Distribute my new door hangers with brochures to select Urbana neighborhoods – FAIL
4. Find more cash-buyers (section 8 landlords, find past cash buyers in MLS, members of Central Illinois Apartment Association) – PASS
5. Put something together for a CraigsList nationwide cash-buyer campaign – FAIL
In this series of videos, I give a brief overview of how Screen Scraping (data collection) with software such as Mozenda can greatly benefit Real Estate Investors. I’m excited about this software. I’m glad I found it as I’ve used others that aren’t even half as good. Watch the entire combined 17 minutes (part 1 and part 2) and I guarantee it won’t be a waste of time.
I visited the rehab house that I wrote about on Friday and checked out the interior. This house was completely gutted with no electrical/plumbing. I only checked out the inside due to the suggestions of other investors, but I had no-idea what to look for. I took some video on my flip mino, so when I get a chance I’ll post it here. The seller is extremely motivated, so I think I’ll counter his $5K counter at $3K, then see if I can find a rehabber to take it for $10K. Maybe I shouldn’t talk numbers on this blog because more people read this than I know of. Oh well. A $7K come-up would be fantastic, but I could settle for $5K.
Old Goals from the week of June 29th:
1. Contact Title companies in town for information on the real estate transactions in town involving deeds without mortgages. I’ll find my cash-buyers this way. (Done. Although none have returned my emails, perhaps I’ll call)
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
Per:
http://www.federalhousingtaxcredit.com/2009/faq.php#1
I have a deal that’s in negotiations at this time (at least I hope you all consider it a deal, this would make my very first).
Since Sunday morning my phone has been ringing non-stop with buyers interested in the property I was marketing. I didn’t have an equitable interest in the property (1104 S. Duncan), however I was assisting the owner with the marketing free of charge, which kept me legal. Not charging anything up-front actually helped in the long-run because; I was able to use an actual property to draw buyer leads with and help a fellow investor out at the same time. The house actually was put under-contract, not by any of my doing, the day after I posted the signs. However the buyers still kept calling. Once I found the house was under-contract I changed my voicemail message and let callers know that the property was sold. The message also directed them to a squeeze page (champaigndeals.com) which took their information so that they could be notified of future deals. I used a Skype phone number for my signs (I’ll never stray away from Vonage again, Skype is garbage) and I was able to keep record of each number that called in. So yesterday evening I set-up a automated call blast (using callfire.com) to call of the callers letting them know that the house was sold and informing them of the champaigndeals.com website. I now have about 30 more buyers on my buyers’ list than I started with.
