Let’s see how Sam does 27 Real Estate deals while working full time job in one years time.
Absentee and high equity
Talk to some experts on B.P about direct mail to get your marketing on track
Each type (absentee, high equity, probate) have their own phone number so we can track metrics and see how many deals getting off each one. Then have it forward to cell phone.
Postcards get less response but are way more motivated, so your productivity will go up.
Stop newspaper advertising, just stopped working for them.
Set 5yr/3yr/1yr/6m/next week goals so you know what to plan for. (5yr is going to dictate the 1 week goals) Find buyers, meet w/contractors.
My goal is to build a single family flipping business that buys 1 house/year.
Also business that buys distressed apartments and multifamilies using Postcards and later test w/letters.
How much can we spend on marketing (aiming to get those results of the 5 year). Systems in place to track ROI on marketing and adjust over time and change & much easier to hit those goals and grow as time goes on.
Repair estimate: Have a real G.C do a line by line quote that will absolutely be executable. And ARV conservative. Rents conservative and real.
Happy Customers: Sell property @fair price & 100% visibility of what the property needs. You will sell every property within 48 hours.
Buyers list: Reia , networking. C.L put 1 ad and renew every monday – brings in buyers.
Consider getting a partner, maybe Kirk.
Protect us and them, investors understand every facet of our bus. If they wanna cum on jobsite they can. They wanna see our books, we show them our books (transparency). They are essentially partners in our business.
Apartment deal came to them through r.e broker as they pushed to build their multi-fam business.
Brokers(commercial/residential): Have lunch w/them, learn about them and what type of properties they get, see if you can help them in any way. Maybe some properties you have from direct mail you can’t use but they have a customer for it. Followup continue having lunch w/them.
Read books, start networking, figure out what direction…wholesale what types of properties and what types of properties will ur market support for wholesale? Setup amount to wholesale and find properties.
Find out what median home price is. Zip codes. Measure how many people call. How many postcards you send. If you send them on monday as opposed to friday, what kind of response rate are you getting?
Maybe this is good resource: https://www.point2homes.com/US/Cheap-Homes-For-Sale/WI.html
Sellers: Trust but verify them. They may say they went through probate or owe nothing on the house. Verify, verify, verify.
Maybe flat fee listing if you goona sell: Especially if quick market. Buyer’s agent gets his 3% commission no matter what, they don’t care. Flips: Have best looking house in the area for incredible good price, so they sell Fast!
https://sennahousebuyers.com/ – his website
Replied almost 6 years ago
Trenton, we were getting about 10% response rate, half of those who called left messages (we now answer live) and you can expect about a 1-2% deal rate. But the great thing is, after tracking our direct mail for so long. Our direct mail ROI % is in the thousands! IF YOU SPEND It RIGHT, THEY WILL COME! (just be patient and stick with it for 3 mo)
We have had some success with bandit signs. They tend to work best in lower income areas and they also tend to bring properties with title issues of some sort. Some can be fixed, while others simply cant.
Especially starting out I would keep things simple. Go with a yellow letter no more than 7 lines with a simple call to action. Send the same letter each time and track your response rate. After 6mo or so when everyone gets a letter, document the response rate, then send another letter and see if the rate increases. Make sure you don’t market to the same 300 people every other week. You may want to buy a list of 5000 names and try to hit everyone once every 3-6mo.
Local company: design the postcards, do the mail merge and drop them in the mail.