Lenny-FL-Realtor... Welcome 2 my Journal

I was riding around A1A, a highway of the Indian River Lagoon and noticed a astonishing amount of commercial/residential properties for sale/rent. I’m guessing these are signs of a hot market caused by competition and motivated sellers that can’t sell!

I finally finished PFRERN. I feel like the book was just awesome cover to cover. It supplied me with just the right amount of information, motivation and hope.

I’m excited today because I finally sold my 97 Jeep that I have been trying to sell. The profit, although small would be just enough to supply me with basic tools to hit the floor running! I plan to order postcards the same day I transfer the truck's title. I'm almost convinced to go with my local Office Depot. They're DPS department is efficient and reasonable priced.

P.S. I called up the 4closurealert.com customer service number and after about 4 transfers I was finally connected to the REA and they told me all the pre-foreclosures are current and wouldn't be listed if they were already sold. They also said the FSBO, HUD, VA and auction listings come up automatically with each different area code search. However, I was only able to find lis pendens type houses under my area code search.

Well maybe I can get a little guidance on this one:

This is the third batch of mailers that I sent out.

The first where 100 postcards I designed on vistaprint.com. I also had a pre-foreclosure recorded message that I set up with a toll free 1-800 number. They all where sent to people that lived in my zipcode. I had like 2 people that listened to half the legnth of the message and simply hung up. The leads went cold when the number they used was not listed.

The second time, I sent out like 50 mailers in my home zipcode. This time I used mailers that I wrote by hand, the envelope address of course. I did this before I went to kingston, NY for 2 weeks. I got no respond.

The third time, I found extra time while I was in kingston and built a database on 7 local zipcodes in my area. When I came back to FL I went through 600 different properties that where being forclosed on. Out of the 600 I sent out 186 mailers that included my cell phone, email address, and newly built website. Its been about 7 days I have had no response. Maybe like a few people that visited my website.

I have built a Florida Forclosure Help website, compiled a buyers list that I pooled in from local investors. I even had an investor call me that is an active broker/investor. He works with foreclosures and assigns to a lot of investors. He currently is having problems finding enough properties. I even ordered some business cards that I plan on including with the new mailers.

Bottom line:
I need to be able to reach out to the local people facing foreclosure. I have buyers set up. I just need to get an assignment done. I have like 40-50 hours in property research, data compiling, envelope writing, not to mention mailing supplies.

Any advice?? I NEED MY 1ST ASSIGNMENT DONE!

No longer have a toll free 1-800 number. Instead, I put my message on my new website.

http://www.floridaforeclosurehelp.usapropertywholesale.com
(check it out and let me know what you think)

I also got my first batch of business cards that explain my real estate services.

I plan on having 8 bandit signs in strategic intersections ready for this weekend. Short, simple message and to the point.

I STOP
FORECOSURES
321-***-***

As soon as I get the first assignment, I will start my limited liabilt company. I have a few "cool" names in mind.

Hi 22Young,
Yes do a mailing with the envelope hand addressed and enclose your letter along with a self-addressed, stamped postcard on one side. On the other side of the postcard have just two boxes:
X Yes I am interested in selling my home.

X No I am not interested in selling my home.

You will need to have some "code" on the card, so that you will know from whom it came. This way the owner will not have to talk to you on the phone, e-mail you or visit with you. All they have to do is make a "X" on the card and drop it in the mail. It is that simple and you will be surprised at the results!
Tom

tflood thats a pretty good idea. I would probably order some postcards that I could cut in half that way I could save a little and it fits perfect in the envelope.

THANX!!

Im currently updating my pre-foreclosure database. I also have the postcards just as you explained. However, Im wondering if I sohould address the mailing to husband & wife as the county tax collector does?

I usually address it to the first name given in the the website's mailing address.

always include both parties (Mr. & Mrs.) if their married even though only one spouse may actually be on the title at Tax Collector's records.

thanks 4 the fast reply... Ill make sure to this next mailings!

I had an incredible meeting on august 19th in Starbucks with a real estate broker. He has a backgroung in investing and has affliations with investors, associations and partners. He seemed like a great guy and full of life (energetic.)

Long story short... He wants to give me a job as a sales associate and work under his brokerage office.

I have filled out the application to the sales associate application, electronic fingerprint, starting the 63-hour course

Hello All,

I finally got a call from a lady in foreclosure. She wants to meet up with me in her house. I have been focusing on everything to do with getting people to call and now that I have a meeting with her this Saturday, I'm kinda lost.

I explained that I work with a group of investors (setting up the assignment) and I would need to evaluate the property before I could put an offer in. I dont really know what questions to ask or what to look for in the property itself let alone all the contracts. I do know the house has a FMV of 150k. She told me it needs a lot of work. She owes back taxes and attorney fees to Bank of America. In other words she is pretty far in the foreclosure.

Could you guys please give me some pointers, advice, things to look for etc,. This is the very first pre-foreclosure property I'm visiting. I'm excited, but I really want this deal to work. Thank you so much!

Lenny
LFLProperties

Here is the update...

One home was in Merritt Island, FL. Wow; all I can say is about 25% of the home is salvageable. No kidding, everything that could be wrong with a property literally needs to be done! The property could cost about the same as the ARV once everything is said and done. Here is a quick list: foundation problems, holes in drywall, new paint everywhere, 2 new doors, 3 new windows (broken), grass has been dominated by weeds, trees have overgrown into driveway, driveway cleaned, No central A/C, all new flooring through the house. Kitchen needs cabinets, flooring, appliances, new screening outside, carpet pulled out. One bathroom needs to be finished, the other needs to be gutted and redone. She also had something listed on her entrance. Safeguard properties and I believe it’s a 3rd party trying to stop the vandalizing and acquire the property for the bank?

She owes 110k to SunTrust between refinancing & HELC. Comps range 90-110k, estimated FMV 90k.

2nd home is 5minutes away from my house. The home is in a beautiful neighborhood where its just a u-road off a busier street. Its also in a better condition. It does have between 50-60k worth of work. Needs paint in/out, garden needs weeds pulled, fireplace doest work correctly, carpet needs replacing, outdated appliances, bathroom water doesn't work, 2nd bathroom needs updating, living room needs a new wall. The most expensive problem is the septic tank it has a drainage problem when there is a heavy down pour. Its not elevated and water just sits over the tank which could cost 30k? to fix this problem.

She owes 110k mortgage, 65k HELC, 2k taxes to Bank of America. Comps range 140-170k, estimated FMV 150k.

I may have not found the best deal, however I felt like I remembered why took this route. I really want help these owners in distress. I wish I could help these people, I really do. However, I believe the only thing they can do is a short sale.

Could someone explain the process to make this deal work, or is there no hope??

I'm not familiar with shortsales but have heard they take 3-6 months. Because the banks area so busy they want to work with investors who are familiar with the short sale process. I'm not sure how you could get around this but I'm interested to hear what others with shortsale experience have to say.

Lea
SPR Property Solutions, LLC

After studying like an animal for my real estate license, I passed my state exam today (10-1-09!) Wow, today marks a whole new beginning!! I have been talking to a broker/investor who wants to employ me and be my mentor! I'm so happy and pleased, not to mention proud of myself... I'm gonna get paid to learn this RE world!

Tomorrow, Friday, I will visit a probate property for sale in Kissimmee, FL. The property is already listed 50% off Accessed value, which is lower than the present FMV (deceased owner owned the property for a long time.) I’m working with an attorney to draw up the contract /w contingencies in my favor. I have about 20 potential investors on my buyers list. This deal could possibly put 5-10k in my pocket within 30-45days!!!

I'm on a roll, YES!!

With my profit I plan on paying cash for my studies in the real estate academy!

Congratulations on receiving your license. I was considering getting my broker's license and then some investors told me that I didn't really need one. Do you feel like you have an advantage now? I'm still trying to decide what to do...just wanted your opinion...thanks