All Forum Posts by: Chris Bounds

@Sam Craven, thanks for the input.  The acquisition cost is actually much higher considering I've done multiple mailings.  Once I close out the pending sale I plan on rolling it into more DM.  Good point on landlords.  I was thinking 15+ years equals equity.  Maybe I'll sort by equity instead since some landlords may be inheriting.

I'm curious how you find that out?  Was it just laying around when you did a walk-through or did they tell you?

In Texas it's safe to assume that there is a gun in almost every home.  As long as they are legally able to own one I have no issues with it.  I'm not renting to felons.  I especially wouldn't mind it if the tenant was military, LEO, or other first-responder.

Hey everyone.  I did a lot of research on BP about direct mail before I started my own campaigns last November. I figured some people might get some value if I posted the results so far. I'll appreciate any comments or suggestions too.

1. Target Market: Absentee owned 15+ years, Below average ARV
2. Campaign Type: Postcards
3. Total Prospects: 854
4. Total Mailings: 6
5. Frequency: Monthly
6. Total Leads: 13
7. Total deals: 2
8. Deal types: 1 flip (back-end sale pending) and 1small wholesale. One other seller backed out at the last minute and breached contract.
9. Comments:This was my first mailing and surprisingly the first deal (the one pending back-end sale) was the very first call I received. Lucky, but I'll take it!

1. Target Market: Absentee owned 15+ years, Average ARV
2. Campaign Type: Mixed Mailing (Postcards, White typed letters, Zip Letters)
3. Total Prospects: 899
4. Total Mailings: 4
5. Frequency: Monthly
6. Total Leads: 9
7. Total deals: 0
8. Comments:I'm pretty disappointed with this campaign so far. The area is nearby the above postcard campaign. I'll ride it out up to 7 mailings and see how it goes.

1. Target Market: Absentee owned 15+ years, Average to Above Average ARV
2. Campaign Type: Mixed Mailing (Postcards, White typed letters, Zip Letters)
3. Total Prospects: 905
4. Total Mailings: 2
5. Frequency: Monthly
6. Total Leads: 7
7. Total deals: 0
8. Comments:This is a hot area in town with a lot of tear downs and rebuids. I expect fewer deals from this campaign, but the profit margin should be much higher.

1. Target Market: Probate
2. Campaign Type: White typed letters
3. Total Prospects: 544
4. Total Mailings: 1
5. Frequency: Every 6 weeks
6. Total Leads: 12
7. Total deals: 0
8. Comments:Overall, this has been the most impressive campaign. The response rate to the first mailing was more than I expected. No deals yet, but I have several warm leads that I am working on. We'll be add new probate to the list monthly.

Overall Comments: DM is generating leads, but I would have expected a few more deals by now. Is that an unrealistic expectation? Houston is a hot market and very competitive. Most of the motivated sellers I've spoken with mention that they receive multiple letters/postcards a month. Call volume is picking up more now so hopefully a couple of deals are right around the corner. We're going to start supplementing DM with bandit signs periodically until more deals start to roll in. 

Does anyone know a quality, licensed plumber in the Houston area?  

@Josef Torkelsen CKR did their job well but were too expensive for my property. I don't have any other MF PM recommendations. I plan on building out my Personal PM company to control the management more for future smaller MF. 

About Property

3 bed / 1 bath with 1050sqft. Will make an excellent buy & hold!  NEW roof and NEW HVAC.

About Repairs

Not much needed for a rental. Install very basic flooring and fix shower tiles. Seller's disclosure available.

Miscellaneous

DO NOT disturb tenants. Drive by only.

Wholesale deal. Cash or hard money only. If HM, pre-approval letter required. Non-refundable EM locks up the deal! Buyer pays all closing costs.

PP: $55,000
Repairs: $3000 est.
ARV: $85,000 est.
Rents: $900-1000 est.

Address: 1801 Dolly Wright, Houston, TX 77088

Pictures available here.

Thanks @Brian G. 

@Rick H., yes I was presuming so it was a "plucked from the air" stat.  For the record, my first mailing was to both of those probate lists.  I was just curious as to what experienced probate investors did with those lead types.

I've read the debate on mailing to the other heirs vs only the executors.  For budget reasons I'll stick with just the executors - at least for now.  

I'm diversifying my lead pool from only absentee. One common feedback that is given to me from my absentee leads is "I get about 5 postcards a month." I'm curious to see how the ROI will be on my probate DM.

Probate investors...

Do you send DM to probate leads where the applicant (executor) address is the same as the deceased address?  Presumably 99% of the time it will be a surviving spouse.  I'm assuming that they will be much less likely to sell than an heir that is detached from the property.

The list I get in Harris County is in two categories.  One where the applicant address is the same as the deceased and one where the addresses are different.  Neither lists actually specify ownership of property so I guess I'll be spending some time on the county websites searching for names in the property tax records to verify they own property.  Or is there a more time effective way to do that?

Does anyone have a good staging company to recommend?  As a side question, what price points in the Houston area is staging more beneficial?

Thanks!