3 Days, no post!

Okay, well I've been a little busy lately, both personally and professionally.

Good news! You know that pre-approval letter that's been hunting me for the past week +? Well, Someone actually contacted me about getting me one. I couldn't believe it, I'm truly blessed that he has offered this for me. He said I should get it by Monday, Can't wait I'll feel so official!!

Okay, I've been spending a lot of time with one of my buyers, kind of learning what he does (He's a buy and holder) and he's been showing me areas he likes, and just great information as far as real estate investment goes. He's get me interested in his buy and hold strategy, it really does make sense, I never really understood it until recently. I understood it..but the number never really made sense. Basically you find a deal on a house, say the house is worth 60k ARV , you get the house from a wholesaler, or via short sale and you get it for 30k.. you get a 30 year fixed on it, thhe mortgage will be like 200 a month on it, if you can rent it out for $600 , you have $400 cash flow. Multiply that times ten, that's $4k in cash flow a month.. now if you keep doing the math, you'll see how it ends up. That's a pretty cool strategy to go about investing for residual income.

Phone Calls:
Well, I've been getting a ton of phone calls from the 306090 leads, but the motivation is not really there. The callers mostly are trying to catch up.. they are not really motivated to leave their house yet. I think the best way to market to these leads is by sending out multiple mailings. You know, buy the 6th mailer they will be very motivated because they prolly have a sherrif sale date right around the corner. At this time, sending out that many mailers does not really fit into my marketing budget.

I actually get A LOT better response rate from leads I get from the court house who have a foreclosure sale due. I may get 20-30 leads a week from the court house but I get a much better response then from them..just over all better quality of lead, they are more targeted. School starts up in a week, and I think it will be much more feasable for me to send 50 mailers a week and get a good response rate, versus send 200+ mailers a week for similar response rate.

I have this other lead on O'Henry stree that is looking pretty well, the lady only likes to communicate through email, which can be good and bad..bad if i need info right then and there, she never answers phone calls lol its weird.

My Kersey street deal is still pending, the lady has so many excuses, it seems like she has an excuse for everything, I'm waiting for a fax from her she keeps saying that she sent it..yet I never get it, so I tell her that I can just pick it up, then she says ohhh it's at work blah blah blah.. I see how some people end up in their situations. Eitherway, it's a great short sale prospect.

Last night, we started the weekend long celebration of a good friends 23rd birthday, today is actually his bday so we will be going out tonight. It seems that everyone's bday is in August..my little sisters is on Tuesday! I can't believe she'll be 20.

Anyway.. the Olympics Opening ceremony was AMAZING! It was even funnier to see Prez Bush in the nose bleeds with binoculars LOL..life must be hard for him nowadays haha

RIP BERNIE MAC!