Greg, thank you for the offer, I'll call you sometime this afternoon. Around 2 if that works for you.
"Where is the list coming from?"
The local property tax appraisal district in my county.
"How much are they asking / record?"
$35 for a CD with a spreadsheet on it, no idea yet how many names are in the list.
"How are you going to compete against the other investors already marketing to that list?"
I currently live in a very small town, Gainesville. I don't believe there are many if any other investors that do the kind of investing this club promotes. There are plenty of people who own several rental houses, but I've never seen a "We Buy Houses" newspaper ad, bandit sign or truck wrapping.
I don't foresee alot of direct competition in my town, although I am a little worried about the possibility of having trouble finding a buyer. I do have the names of several of the people that own more than 5 properties. I've talked to several of them, and from our discussions, I believe most of them are used to overpaying for their properties. My father-in-law, for instance, has owned properties for longer than I've known him. In fact he is the source of my original interest in real estate. But if he can buy a house at 80% of ARV he does. Not 80% ARV minus rehab mind you, just 80%. And at least one other gentleman who buys up property is happy to pay similar prices.
I think most "investors" around here just talk to every FSBO they can find, and pay 80% of value to motivated sellers that may have been willing to take 60%. This is what I'm counting on. If I can get them under contract for 60%-70% I believe I can easily wholesale them to one of the many rental property guys in town. I'm just going to have to work really hard to get the information about my homes into their hands. I've tried a couple of fake craigslist ads, with pictures of decent houses, and fudged the numbers to make them attractive. The only responses I got were from metroplex investors. Doesn't surprise me as this is a very "country" town and not alot of people are used to using the internet in the same way people from the big cities do.
