RE2R001 - Mailing list for multi units

Topics: Mailing list for multi units <Click here to download the show>

Why? To get deals before they are listed, friend just got a great deal

What I did up to this point
Got a PO Box right by my the office of my full time job
- $20 for 6/months and $2 for a key deposit
Contacted SorA office
- Got a sample report that would only have been $50 (wasn’t able to use it due to everything being in one cell)
- Paying $175 and hour for a file from county’s IT vendor (around $200)
Problems:
- This is only one county so I will need to do the same
- Some properties have a trust mailing address so will not get the owners all the time

I creating my first mailing using VisaPrint

Need to do a review of the sites:
http://www.premiumpostcard.com/
Lets you do standard postage (200+) for cheaper shipping but I didn't research
http://www.click2mail.com/
Example: Yellow cards with black writing - 100 postcards to 100 addresses for roughly 37 cents per piece (per the site)

I went with VisaPrint b/c I could order full color postcard and group them in small group as not to get pounded with lots of calls. Also, if you follow this link (http://www.vistaprint.com/frf?frf=924122510989) you will receive a special promotion and I'll get a discount on my next order for referring you.




Here is the verbiage:
Front: "Thinking of selling your multi-unit? I'm looking for one!"
"I'm a local investor that is in the market for another apartment building. Your property fits my investment criteria of what I'm looking for. If you have been considering selling please let me know. Or, if you just want to chat about investments that's fine also."

Back: "You are welcome to e-mail me:
John@PeoriaInvestments.com
Interested in building your portfolio? Let me know your criteria and I will let you know when I get a lead on a property that doesn't fit my strategy."
Split the mailing
After taking the list and breaking it down by removing the duplicates (people who own more than one property) I decided the list was two big. I have no idea how much interest this mailing will generate so I'm going to do two halves. Note, in my area there is actually more b/c I'm only doing one township.

Dirty Laundry:
Got a collection notice for not paying my sanitary bills for 2 of the properties and now I need to have my PM company follow-up.

Other Major Tasks:
Tool for tracking leads I hope SLOWLY come in
Check on who suggested what on getrealREI thread
Process for coming up with an offer price quickly
Thinking about Larry's ultimate buying machine program
Still thinking about being a Realtor
Will interview my agent

Que Review:
Investor in multi-unit deal (part owner of LLC)
Take on debt
Contribute 2.5% cash
Pitched update - 5-15% privet investor
(15% or interest free with part ownership of LLC)
Spent: $1800 in the appraisal
$1000 soil sample to meet EPA to prove I can build
Looked at a few other places but nothing worth sharing. Do you want me to share my bad deals and why I didn't continue with them?

Disclaimer:
The information contained on this show or the website is for informational purposes only.
In addition, this is not advice or a recommendation, just my opinions and experiences. You should contact an Agent, Layer, Accountant, or other independent advisor for personal advice or material to make any decision or take any action.

Foreclosures rise 14 pct so I'm making offers

I'm making a low ball offer on a REO in Pekin today. OK, I know all I have done is posted on Foreclosures lately but come on, it all over the news:
The percentage of vacant homes available for sale remained relatively flat in the second quarter, but still hovered in record territory.
http://rss.cnn.com/~r/rss/money_topstories/~3/344682992/index.htm

Reuters - Home foreclosure filings rose 14
http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080725/bs_nm/usa_economy_housing_foreclosures_dc

Foreclosures and stuff

So, on Tuesday I looked through the MLS for houses that are banked owned and I'm still shocked at what they are asking for them. My Agent did know of some deals that went through but the banks still have near market value on them. Are they just waiting with a high price hoping someone will come along and may near full price?

House of Representatives passed a massive rescue package to shore up the struggling housing market. http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080724/bs_nm/fannie_freddie_dc

In the news, The Federal Reserve unanimously approved new mortgage lending rules to crackdown on shady practices - particularly sub prime loans made to borrowers with weak credit. http://rss.cnn.com/~r/rss/money_topstories/~3/335014181/index.htm

The number of Americans losing their homes to foreclosure continued to soar in June: http://rss.cnn.com/~r/rss/money_topstories/~3/331566102/index.htm

With all of this stuff going on you would think I would be able to get a deal on another rental.

India 2008 – Power Sightseeing Weekend

So, we were some busy this weekend I haven't had time to write anything. So, I'm going to post some pictures on Facebook until I get some time (more than likely on the way home from India)

Team Dinner - Leela Palace

So, tonight I think I might have had the best dinner. It was the whole team and we went to Leela Palace. The place was so big I couldn’t get a picture so here is one from the web.



Here is some video that someone took while we were there, it's a little dark but you can get a better idea



Anyway, we had a nice table at a place called Jamavar. It was the best Indian food I had ever had and it stared with the biggest shrimp (Prawns) I have ever imagined. Really, they were so big I thought they were small lobsters without legs. I didn't take a picture of one but I should have.

I don’t really understand why but at lots of the restaurants are set menus. So you basically have 2 choices, veg or non-veg so I got non-veg of course. We toped off dinner with the first bottle of Indian wine I had. Overall it was a wonderful dinner.