Some ideas...

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Some ideas...
Posted by Ward-CA- on March 10, 2004 at 7:43 AM
In Reply to: Ward... some help here? posted by Don on March 08, 2004 at 11:25 PM
: Wonderful resource, this site.
: I'm a beginning investor in So Cal. Have studied for 6 months or so and want to begin a career in investing. Doing my first RE deal. Got an acre in OK through tax lein certificate, putting a repo Double-Wide on it to sell quick. Hope to clear 25K.
: I want to concentrate my time in three areas. Looking for direction.
: 1) Buying more tax leins for lots in OK, put MHs to sell.
: 2) Marketing to owners of vacant properties around and outside of LA
: 3) Marketing to out-of-state owners around and outside of LA
: Don't want to knock on every door in town. Not trying to hit grand slams. I've been reading through posts here and its a little depressing. Posters say all areas around LA already gone through.
: Or should I concentrate in other states, where all types of deals seem to be plentyful? I go to Oklahoma for business every four months (family, business). Are there areas in Califoria where you can still get good deals at Tax sales?
: Marketing seems key, so I bought a course from a guy named Richard Roop out of CO. Great ideas on direct marketing. Got a domain & wife does websites. Ready to roll. What do you think of direct marketing in So Cal? It makes sense that deals are out there, you just have to find them.
: I'm patient and hardworking with average credit, but not a lot of money. I'm beginning to meet with hard money lenders. I'm also intimidated by all the competition with cash, to be honest.
: How would you proceed with 25K to invest? Without any guidance I suppose I will continue placing Mobile Homes on lots and selling.
: Thanks for your attention to this if you have the time.
=================
Don,
First of all, we don't have tax lien certificates in CA and don't think we ever will. But that's a game you can profitably play in TX, AZ, OK, IL, etc. And I wouldn't hold out much hope for finding a good, discounted deal at our county tax lien sales either. Too many property-hungry people attending them.
To find out the specifics of vacant lots in and around the city of Los Angeles is relatively easy. Just contact a large title company, like 1st American or Chicago. Ask who your title rep is and tell him/her you want a "farm" of vacant lots in such and such area.
You can do the same with out-of-state owners. Tell your rep you want all such owners within a certain radius of a specific intersection and voila, you'll have it the same day.
The above services are free, but there's an expectation that you'll reciprocate and use that title company for your ongoing title insurance needs in the area.
I haven't heard of Richard Roop, but if you're happy with his course on marketing then give us his web site as a reference. A master at direct marketing to owners in default here in CA was Ted Thomas. About a dozen years ago he put out several books on the subject. Here's a partial list:
"Foreclosure Profits" and,
"Foreclosure Gold Mining" and,
"Big Money in Real Estate Foreclosures" come to mind.
They're probably all out of print, but I imagine you can check them out of a large library in the L.A. area.
Before you buy out-of-state I'd suggest you research their real estate markets well enough to determine if they're appreciating enough to make your property investments pay off in five years or less.

Follow Ups:

Re: Some ideas... SoCal Don 10:13 AM, 03/10/04 (0)

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Name : E-Mail : Subject :
Comments: : : Wonderful resource, this site. : : I'm a beginning investor in So Cal. Have studied for 6 months or so and want to begin a career in investing. Doing my first RE deal. Got an acre in OK through tax lein certificate, putting a repo Double-Wide on it to sell quick. Hope to clear 25K. : : I want to concentrate my time in three areas. Looking for direction. : : 1) Buying more tax leins for lots in OK, put MHs to sell. : : 2) Marketing to owners of vacant properties around and outside of LA : : 3) Marketing to out-of-state owners around and outside of LA : : Don't want to knock on every door in town. Not trying to hit grand slams. I've been reading through posts here and its a little depressing. Posters say all areas around LA already gone through. : : Or should I concentrate in other states, where all types of deals seem to be plentyful? I go to Oklahoma for business every four months (family, business). Are there areas in Califoria where you can still get good deals at Tax sales? : : Marketing seems key, so I bought a course from a guy named Richard Roop out of CO. Great ideas on direct marketing. Got a domain & wife does websites. Ready to roll. What do you think of direct marketing in So Cal? It makes sense that deals are out there, you just have to find them. : : I'm patient and hardworking with average credit, but not a lot of money. I'm beginning to meet with hard money lenders. I'm also intimidated by all the competition with cash, to be honest. : : How would you proceed with 25K to invest? Without any guidance I suppose I will continue placing Mobile Homes on lots and selling. : : Thanks for your attention to this if you have the time. : ================= : Don, : First of all, we don't have tax lien certificates in CA and don't think we ever will. But that's a game you can profitably play in TX, AZ, OK, IL, etc. And I wouldn't hold out much hope for finding a good, discounted deal at our county tax lien sales either. Too many property-hungry people attending them. : To find out the specifics of vacant lots in and around the city of Los Angeles is relatively easy. Just contact a large title company, like 1st American or Chicago. Ask who your title rep is and tell him/her you want a "farm" of vacant lots in such and such area. : You can do the same with out-of-state owners. Tell your rep you want all such owners within a certain radius of a specific intersection and voila, you'll have it the same day. : The above services are free, but there's an expectation that you'll reciprocate and use that title company for your ongoing title insurance needs in the area. : I haven't heard of Richard Roop, but if you're happy with his course on marketing then give us his web site as a reference. A master at direct marketing to owners in default here in CA was Ted Thomas. About a dozen years ago he put out several books on the subject. Here's a partial list: : "Foreclosure Profits" and, : "Foreclosure Gold Mining" and, : "Big Money in Real Estate Foreclosures" come to mind. : They're probably all out of print, but I imagine you can check them out of a large library in the L.A. area. : Before you buy out-of-state I'd suggest you research their real estate markets well enough to determine if they're appreciating enough to make your property investments pay off in five years or less. Optional Link URL: Link Title: Optional Image URL:

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