All Forum Posts by: Robert Wilson

It works from a post office stand point... someone has probably done a double blind study on that... but you're probably better off flipping a coin and doing your mailing than waiting to perfect that particular point.

I don't know if I would take them off the list...

Case in point, wrote a contract this week on a piece of land that I had numerous calls and contacts with... and I had written at least 3 prior offers on over the last 18 months... seller responded to a new piece of direct mail I sent in the last 30 days.

Glad I didn't take them off my list.

There is no norm, per se... now if the tenants are in place I don't see why you would need to pay them a 'first month's rent payment.'

That said, I have heard from folks with a lot of doors in their portfolio that they aggressively compensate for renewals because they find it leads to lower turnover and higher occupancy rates.

If you don't pay for renewals... but you do pay for a new lease... you might get more of what you pay for.

It's $20-$30 a month... I think they give you a week cheap so you can test it out too.

skip tracing relates to services that will pull email and phone numbers.

Intelius is one that's afordable.

As a new agent SOI is the way to go...

Go into your phone, your Facebook friends list, your LinkedIn contacts... Make a list of all of the people who know you and like you.

Divide that list by 22.... Reach out to them and tell them your getting started in real estate and to please let you know if anyone is looking to buy, sell, or rent... And you will give them the most personal service possible.

Make it your goal to get through 1/22 of that list every work day between now and Thanksgiving. Good things will happen.

Try to get through a small deal or two to build your confidence. Also.... If you NEED money... Deliver pizzas or be an Uber driver on the side... Buyers and sellers are repelled by agents who have 'commission breath.'

what's the LTV on the deal?

(Purchase price + repair budget) / ARV

Other interested parties: tenants, heirs/family of owner or occupant

Yes, run title before you buy at auction.

Simple is better.

Get a number from seller first.

always choose frequency... You might need to look for ways to have a bigger budget.

Dropping $500k on a one shot direct mail campaign... That isn't particularly targeted...  hitting 1/3 of the people in a metro market will likely have a poor return. Even if you get great response... What is the plan to convert a funnel that starts with 5-15,000 calls?