Door knocking

[Peter Piccione]

Hello, I'm a newbie investor and went on my first day of knocking on doors the other day and actually had some success and generated a solid lead. A friend of mine who is an agent and investor has been showing me the ropes. The advice he's giving me is to not mention that I'm an investor when I knock on there doors but to kinda BS about possible options they might have then ask them if they've thought about selling. This approach worked for the lead I managed to get but I felt like the guy I was talking to wanted me to cut the BS and get to the point. My friend is also recommending my business cards don't say "I buy houses" on them for door knocking. Any thoughts on this?

[Mike Makkar]

I love door-knocking. I picked up a property during July of last year from the MLS any gross rent multipler (GRM) was 85 (or monthly rent at 1.18% of purchase price). Then I discovered BP and saw stories of investors getting close to the 2% (or GRM of 50 to 60).

Then, along with my 3 kids (11, 8 and 3yr old), we started knocking on all the doors of the houses on the street where I had my original property and introduced myself to the neighbors as somebody who wanted to improve the street (bring lights to the street, improve water coverage and bring in a volunteer neighborhood watch). In 3 months I was able to pick up 5 additional properties off-market that I have rented out with GRM at 60 to 70. This is a good way to get off-market deals. Its not for everyone, but if its done in the context of helping the other person, you could be successful. Good luck!