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July 8, 2010 by Esi · 33 Comments
Wow! It’s been a while since my last posting. I hope you all had a great holiday weekend. I decided to spend sometime relaxing after a hectic and busy last few weeks planning my daughter’s birthday party and working on upgrading my business. On Sunday morning, 4th of July morning, yeah honoring our troops, bbq, fireworks day, I decided to get some work done before playing (waterpark, bbq and fireworks) in the evening, so I got my family in the car and we went house shopping for some leads that I got the previous week . Found a house that I liked and got it under contract.
I got this lead from my marketing to Landlords or Absentee Homeowners. The house has been vacant for about 3 years and has been broken into 6 times. Homeowner (who I would refer to as Debra) attempted to sell it several times, but no one put an offer in on it and my guess is because the asking price was too high. The house across the street was listed for $125,000 and never sold and for some reason they thought they could sell theirs for that amount too. Nice neighborhood and in good condition, the copper pipes were stolen and a plumber was hired to replace it with PVC pipes, but he didn’t finish the job because he did not get paid for labor, so the last time he did anything to the house was about 2 years ago. Anyway, he is requesting that I give him 2 weeks to finish the job, so he can get paid at closing. The whole house was painted 2 years ago and since no one has lived in it, it still looks pretty new. After some negotiations, my offer of $8000 was accepted and she got the signed contract back to me yesterday. Debra inherited the house and the house has become a nightmare, so she just wants to get rid of it. I did a video walk through of the house to show you guys some of the things I look out for or how I analyze a property when I go see a house and will be posting it soon. This will be my first video upload ever, I’m excited and I hope you enjoy it.
In other great news…
Patrick aka P-Rid of www.mustknowinvesting.com is starting a new series on his blog called “Best & Brightest Women in Real Estate Investing”. The all-star line up of women Real Estate Investors participating are:
- Julie Broad
- Esi Benedict (yours truly)
- Shae Bynes
- Christina Mellott
- Stephani Davis
- Surprise Special Guest
- Rachel Hernandez
- Susan Lassiter-Lyons
I’m honored to be mentioned in the same breath as such great women, especially since I’m a newbie blogger. I’m looking forward to it and I really hope I can inspire other girls and guys out there. He just posted an introduction video to the series on his blog. Check it out here, oh wait… after you are done reading mine 
and look out for my post on July 19th.
On Wednesday, I sent out my first set of direct mail for the month. Hopefully I didn’t stain any of the letters with bbq, since I was stuffing envelopes and eating at the same time, I’m just happy I got it done. Here is the breakdown:
- Postcards to Absentee Homeowners: 1044
- Probate Letters: 154 it included 2nd and 3rd set of probates mailings
This time I sent out a typed letter as opposed to a yellow letter and I’ve already started getting calls. I’m not as organized as Scott, the SI lead manager King of strugglinginvestor.com, but I’ll try and will be posting updates of the results next week, so stay tuned.
In other not so palatible news…
I don’t know what I was thinking, but I decided to try to purge my system as I like to do this twice a year, but since having my daughter, I put it on hold and just decided this past weekend it was time to do it again. Has anyone heard of or tried the Ab-Trim? It’s a 5 day colon cleansing kit of Amino acids, colo-zyme capsules, vitamins and 100% fruit juice. OMG, the toilet is my friend for sure with this one. It’s pretty intense and I already lost 6 pounds in one day. It’s definitely not easy to do, because I feel kinda light headed and weak right now, but it’s good for my health. 4 more days to go. Oh boy!
Just out of curiousity, what do you guys use to purge your system?
Do not wait; the time will never be “just right’. Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along. ~ Napoleon Hill
Don’t judge each day by the harvest you reap, but by the seeds you plant. ~Robert Louis Stevenson
Hey Esi,
Thanks for the shout out for the “Best and Brightest” series. Glad to have you on board
Haven’t heard of the Ab-Trim. I’m not sure if this is similar, but I did the “Master Cleanse” once before. I only did a 3 day. I had a friend suggest it to me.
Great Napoleon Hill quote. I’m a BIG fan!
Looking forward to your part in the series.
~ Patrick
Patrick Riddle´s last blog ..The Best and Brightest Women in Real Estate Investing – 8 Part Training Series
Hey P-Rid, glad to be in the line up and looking forward to it. I’ve heard of the master cleanse, but haven’t tried it. The name sounds like it’s a pretty intense cleanse. Think and grow rich was the book that put the fire in my butt and has propelled me to this point…great book.
Hey Esi! $8000…wow….how much do you think you can sell this one for? Awesome dealmaking, girl! Looking forward to your video walkthrough — I think that will provide a lot of value for those getting started! Plus it will be fun to see you on video
Shae Bynes´s last blog ..Truly honored-
Hey Shae, I can wholesale it to my buyers anywhere from $15K to $20K ($13K for a quick sale). ARV is $30K to $45K. It needs less than $2000 in repairs. Rent in the area is about $800/month. So it’s a great deal. This is my first time doing a video walkthrough, so i’m not sure how it will come out, but if it doesn’t look good, i’ll do another one.
That’s a smokin’ deal.
Shae Bynes´s last blog ..Truly honored-
Congratulations! I’m interested in knowing the answer to Shae’s question. I’m also testing with this post to see if my face comes out like everyone else here.
“Strong reasons make strong actions.”
William Shakespeare
Hey Alex, your picture is up and you look cute
I love that quote.
Hi Esi
A price unthinkable in my area. Go Detroit!! You gotta to have a part 2 and tell us how you negotiated that deal. Simply amazing.
$8000 ? I am foaming at the mouth.
You mentioned videos. I make promo videos for my biz for fun. take a look.
http://www.youtube.com/watch?v=J79mSRCfgX0
http://www.youtube.com/watch?v=BN4A2msno_A
http://www.youtube.com/watch?v=wIxGB5RkKuk
http://www.youtube.com/watch?v=i3J0909IzNk&feature=related (One of my first)
tell me what you think.
I do 500 letters a month.(yikes) 1st and 2nd mailing. I experiment with envelop and letter quite a bit. But haven’t tried hand written ones yet. I’ll pick about 50 and try it out.
Good luck on your direct mail campaign.
David
Hi David, I’m considering having a negotiation series in future, so look out for that. I’ll check out the videos in a few. Thanks.
Hey David, just checked out the videos and they are pretty awesome. I might need you to do one for my seller’s website, if you don’t mind.
Thanks.
I submitted one of your post to Digg.com.
Hope you get many fans from that.
Night!!
David, thanks for reminding me about Digg.com…. I really need to make it a habit to Digg all the awesome blog posts I read.
Shae Bynes´s last blog ..Truly honored-
Thanks David. You rock!!!
Hey Esi, Just came across your site via Shae and Patrick, just hopped from one site to the other and came across your awesome story, Don’t you just love the power of networking via the internet. I am a newbie in Chicago. $8,000.00 was a great deal. Look forward to celebrating your successes with you! keep up the good work. Be Blessed!
Thanks Reeshemah (what is the meaning of your name? lovely name by the way). I know what you mean about internet networking, I’ve met a lot of great people I haven’t even met in person and I feel like I know them. Patrick and Shae’s blogs are awesome. I checked out your blog and you are off to a great start, keep up the good work and I hope to see you around.
Esi you’re an inspiration to those that come in contact with you. Thanks for your eNewsletter. I really enjoy your blogs.
I feel for you Esi.
WARNING: FOLLOWING COMMENTS ARE GRAPHIC.
Now the fun comments. I’ve never volunteered to purge my system. For medical reasons I did three times 2x for myself, a barium enema and a colonoscopy, 1x with my wife (I fasted with her but didn’t drink that horrible liquid) . We had to drink every 15 mins. By the time we finish the first movement (I’m not talking Beethoven here) and lie to rest, off we go for round 2 until the nasty drink is gone and everything is clear. Then we can sleep peacefully. Are you allowed to drink water for hydration?
Thanks Ed, I’m glad you enjoy my blogs and think of me that way. You are too sweet. That’s not graphic at all, I can handle it
I’ve never had an enema, but I’ve seen it being given and it’s not comfortable at all, that’s definitely an experience. The only thing I’m allowed to drink other than the pills is 100% fruit juice (apple, orange, grape, cranberry and pineapple). No water.
Esi, where on your blog is a step-by-step for Probate (that’s one for buying houses of the deceased right?)
Do you search the obits, check the names in white pages for addresses, check addresses in property tax records for the houses, do comps, (do you make a physical visit to property before or after offer?) send letter, (yellow?). Tell me your input.
I haven’t done a step by step for probate yet, but that is a great blog post idea. Yes, probate is for buying houses of the deceased. You can get the names from the legal news section of your local newspaper or go to court to search through the probates. I am lucky to have someone local provide me with a daily list of probates for a very small fee. It saves me a lot of time and definitely worth it. Which ever way you get the list (legal news, court or God sent), it’s going to contain the name, addresses and sometimes phone number of the deceased, lawyer and personal representative, but you will have to filter the list to find out who owns property before sending a letter to their personal reps and/or lawyer, heir etc. When I get a call from a seller, I get as much information about the property from the seller and if it fits my criteria, I make an appointment to see the house or send someone to do an assessment and send me pics. I do make offers before or after seeing the house. It depends on the situation. Though if I don’t make an offer before seeing the house, I give the seller an idea of what i might be offering, like a range of numbers and if I feel they will be willing to work with me on the price, then I go see the house. For probate mailings, I used to send yellow letters, but now I’m trying a new method of alternating between yellow letter and typed letter and I’ll give you an update of the results next week. I hope I answered your questions.
Congrats on the new deal, Esi- looking forward to the video walkthrough!
Steph´s last blog ..Flip This Success Story- Featuring the Lovely and Talented- Mrs Shae Bynes-
Thanks Steph. I will have it up next week.
Hi Esi,
Great post once again. You are definitely a MASTER NEGOTIATOR. Please let us know more in depth about this deal. Its SUPER. I actually go and get my colon cleansed out through a colonics. The water goes through the pencil tube and all through the colon and then the toxins etc… are flushed out. Its about a 1 hour process but unfortunately my colonics specialist told me I need about 6 treatements…WOW.
But, after the session….I was so relieved. 2-3 pounds gone easily. She said after about 6 sessions…possibly 25 pounds of waste gone. My skin cleared and was brighter within a matter of 24 hours. The toilet is your friend and mine too after that.
Kat.
Thanks Ka, I won’t call myself a master negotiator, lol, but i’ve learned a lot of skills over many years and it’s worked great for me in my business. I’ve heard of colonics, a lot of celebritities do that right before getting on the red carpet for an award or premier. How are the 6 sessions spaced out? Is it everyday for the next 6 days, once a week for the next 6 weeks or what? Though i doubt it’s everyday for 6 days, because that is deadly.
Hi Esi,
She told me that starting out it would be twice a week for two weeks…and once a week for two weeks. I was actually surprised with the effectiveness of it. I was so refreshed and felt so cleansed after.
Ok. That makes sense, I’ll look into it, thanks.
Wow, sounds like a great deal Esi! And, a win/win situation for both you and the seller. I can really relate to the seller’s situation – I went through the same thing. And, this was after I went through a crazy eviction lasting almost 8 months (in some areas the laws are really anti-landlord!) – the home was also broken into and the copper pipes stolen. I really needed to sell and get out of the situation, I was glad when it was finally over. It’s great to hear your progress, looking forward to the walk thru video!
p.s. Thanks for the mention for Patrick’s new video series, it should be a lot of fun!
Yeah, it is a great deal Rachael and the seller is pretty excited about finally getting a buyer to close soon. 8 months? Wow! some tenants really feel entitled, I don’t get it. Looks like everyone is looking to get something for nothing and still complain about it. If I ever become a landlord it will definitely be for multiunits and i’m already researching that opportunity in future. Thanks for the complement…means a lot coming from you. I’m also looking forward to the series.
Hey Esi!
That’s a great deal. Congrats on that. I need to get some of my fam out there in Detroit in contact with you so they can maybe do some birdogging for ya. Looking forward to your video as well.
I’m really enjoying watching you grow and succeed in this business. It seems not too long ago you were posting for the first time on Steph’s blog and just getting started. You may consider yourself a newbie but you are prime example what can happen when you put things into action and are persistent.
Keep Rockin!
Bill Lassiter´s last blog ..PREiA peninsual real estate investors association july meeting
Thanks Bill. That will be awesome, I’ll be happy to have them on my team so we can make money together. You make a grown woman blush :”> Shae told me about you and I spent sometime reading all the posts on your blog and I really enjoyed them. Keep up with the postings, I love it. Both Shae and Steph are 2 great ladies and I attribute the success of my blog to them.
Wow Esi. You are such an inspiration. Keep up the good work.
Thanks Daphne, I appreciate it very much. Hope to see you around.
Hey Esi
I am just getting climbing out of the woodwork after a few crazy months and it’s great to see your blog. Love it.
Gail