Finding Tired Landlords?!? - Posted by Richie

Posted by JPiper on May 25, 2001 at 23:33:07:

My recollection is that in CA you can’t get the filings for 60 days…a point at which the “pain” may be gone. Then again, Brad mailed, you phoned. Big difference. No rule says that you can’t phone these landlords. In fact here, the phone numbers are often on the form in the courthouse.

JPiper

Finding Tired Landlords?!? - Posted by Richie

Posted by Richie on May 24, 2001 at 21:32:39:

I would like to send out postcards to landlords who have just evicted a tenant within the past month. I was just wondering what this would be labeled as under the court computers?

Thanks

Re: Finding Tired Landlords?!? - Posted by JoeKaiser

Posted by JoeKaiser on May 28, 2001 at 03:57:48:

Our evictions are always held on Friday mornings and I’ve seen guys there passing out their cards to landlords, win or lose.

Wish I’d thought of that.

Joe

Re: Finding Tired Landlords?!? - Posted by Bud Branstetter

Posted by Bud Branstetter on May 25, 2001 at 13:14:36:

It will depend on your state. In Texas a Forcible Entry and Detaianer suit is brought in JP court to do an eveiction. Only after they win can they get an abstract and file the judgement for record in the county records. That way it will get on the credit report. The problem is maybe 2% file an abstract. So you have to go to each JP court and manually look through their record book. Most landlords are happy just to get them out so they can re-rent.

Obviously, they are more motivated at that point. But you still may have to send multiple mailing to the landlord. If you can send them information like Bill Gatten suggests the landlord is more susceptible to working with you. If you have the skills of Joe Kaiser you will get a super duper deal. You have to decide your own approach so get going.

Re: Finding Tired Landlords?!? - Posted by Bill Gatten

Posted by Bill Gatten on May 24, 2001 at 22:14:35:

Why go to the trouble? Why not just call all landlords in the local newspapers and ask them if they’d consider your paying them a bit more than they’re aaking for rent and offering to cover 100% of their mortage payment, all maintenance, management repairs and upkeep for a few years…assuming you can have the right to refinance at the end of that time and pay off their loan and own the property?

If they agree you can discuss the various ways to take the property without a title transfer, without DOS violation, without risking your potential for creditor or IRS liens, marital disputes, BK, probate, etc.

A message like this, you can leave on their answering machines…they’ll call if they’re the tired landlord you’re looking for.

Bill Gatten

How much does the investor make going in?!? - Posted by Richard

Posted by Richard on May 25, 2001 at 09:44:39:

The one thing I’ve learned on this board is how important it is to make your money going into the deal. I’m wondering how much I, as an investor, could expect to put in the bank at the inception of one of these deals.

P.S. Joe Kaiser has a L/O course that goes into how to find a tired landlord, might be a little more direct that what you are suggesting.

Why Go To The Trouble - Posted by JPiper

Posted by JPiper on May 25, 2001 at 08:43:39:

Maybe the reason to seek these guys out is that at the point they file their eviction they are in “maximum pain”. A tenant is in the house, he’s not paying, he could be damaging the house, the landlord is making the mortgage payment with no help. Think this guy’s motivation might be somewhat higher than AFTER the tenant is out, the place has been fixed up, the ad is running, the calls are coming in???

JPiper

Re: How much does the investor make going in?!? - Posted by Bill Gatten

Posted by Bill Gatten on May 25, 2001 at 11:27:46:

I have Joe Kaiser’s Lease Option course and its great, I agree. But is Joe smarter? Better looking? More fit? Intelligenter? Own more property? Richer? Tougher? Does his his last name start with a “G”? Ha! I got at least one out of eight…that ain’t bad.

What can you get coming into (“…one of these deals”)? …Whatever the buyer is willing to pay. And that depends upon how capable YOU are of making what you have to sell attractive enough for someone to to pay a premium for it.

If you were a renter with marginal to bad credit, minimal cash, a mole on your nose, and a three legged dog, how much would YOU beg, borrow or steal from your friends and relatives to be able to pay for the following?

A home of your very own
Tax write-off
Appreciation potential
Loan principal Reduction
Use, occupancy, possession
Pride of ownership
Virtually 100% financing without a credit app.
The bikini clad neighbor lady
A much nicer home than you could qualify for if you DID have a full down payment and good credit

And…if you haven’t already done so, I’d suggest buying Joe Kaiser’s course…but finding tired landlords isn’t hard: just drive down any streat and listen for the wailing and moaning.

Bill Gatten

Re: Why Go To The Trouble - Posted by Bill Gatten

Posted by Bill Gatten on May 25, 2001 at 11:51:53:

Piper,

Man, you’re on this one like a chicken on a June bug! Why is logic so important to you Piper? My God man?logic and truth isn’t everything! Sure, you’re right (as usual). But, hey, why do it the most effective, easy and prudent way all the time?

Actually, about a year ago I helped Brad Crouch (an acquaintance with some CREonline note), with a 500-piece mailing to past and present unlawful detainer plaintiffs here in the San Fernando Valley, and he got nothing from it. But during the same period I picked up a couple properties by just doggedly calling from the newspaper. So I’ve shied away from going the UDT route: not that it probably wouldn’t be the best way to go to get down to "pain? with a follow-up mail campaign (he didn?t do that).

Bill