Newbie Investor Introduction

[Michael Henzgen]

Hi All,

My name is Mike and I am a recent college graduate (SDSU) and newbie investor from Southern California.

I'm excited to say that after a few months of research and education I have officially jumped into the playing field, sending out ~150 direct mail marketing letters to out of state/area mutifamily property owners across 3 cities.

As I continue marketing to owners, I hope to begin screening deals in the next few months. Any tips on how to best screen deals, next steps (reaching out to lenders, agents, property managers, timing), or anything else would be much appreciated!

I am thrilled to have begun my journey to financial freedom and to gain the knowledge / experience of all you experts out there.

If you're located in the Lose Angeles area and would like to connect, or know of any recurring meetups, please let me know! I am located in Agoura Hills.

Looing forward to being more active on these forums!

Cheers

[Joe Homs]

@Michael Henzgen there are some live meet ups in Orange County right now. Just look on meetup for them. Sending random letters can get very expensive that is why we prefer cold calling and texting leads. It's more time consuming, but more productive as well. If you don't like speaking on the phone then hire someone. There is an excellent website in California you can use to get your ARV, Rehab, and Total costs all in one place.

Good Investing...

[John Morgan]

I would abandon the letters unless you are sending out about 20,000 a month. Find leads elsewhere. We are seeing about a 1% call on all mail and only about 10% of those are decent leads. That’s roughly 20-30 appointments per 20k letters. Online marketing is much better but unless you are spending thousands of dollars a month you will be on page 7. 

[Michael Henzgen]

@Joe Homs Thanks for your response Joe! I’ll look into getting down to OC for a meet up. Not opposed to cold calling or texting I’ll look into the best ways to do that as the mailing is just as time consuming.

[Michael Henzgen]

@John Morgan Thanks John I’ll start researching more efficient methods for my marketing process. Finding off-market is all that matters to me so the quicker the better!

[Ned Carey]

@Michael Henzgen welcome to BP.  We have lots of members from LA area.  You can set up a "Keyword alert" to be notified when someone mentions "LA" or "Los Angeles" or any other word of phrase. 

[Michael Henzgen]

@Ned Carey Thanks Ned, I’ll be sure to do that!