All Forum Posts by: Alex Brandt

Hello Everyone,

I hope you are all doing well. Let me know if I should post this in a different subforum.

Recently in addition to various other forms of marketing, I found a list of about 250 very highly targeted potential buyers through local rental property data. I then used my CRM, Close.io, to send a simple text message to each one. I had to manually send each text in the software. My response rate was fantastic though and most people were very respectful whether they were interested or not. I only had 4 nasty responses out of about 50.

Upon further research though, I came across TCPA laws and am now not sure of the legality of this strategy. From what I've read, I think sending out an automated mass text message to people who have not provided express written consent is illegal. I have to manually send each message though and my intention is not to automatically blast people with spam. I read each response carefully and mark whether they are interested or not. 

I will discuss this with my lawyer soon but if anyone has marketing expertise, please let me know. Your advice would be much appreciated.

Thanks, Alex

Hello Everyone, 

First of all, please notify me if this is not the correct forum for this topic - I only seek your advice. My business partner and I are pursuing our first wholesale deal in East Linden Ohio (Columbus) and I have a number of questions. I understand that it may be difficult for you to thoroughly assess the deal through a post like this but your opinion and advice would be much appreciated. Please assume the perspective of an investor looking to purchase this contract.

The Deal:

• Purchase Price: $38,000
• ARV: $100,000
  • Comp criteria: < 1 mile driving distance, 6 month time frame, 3 bedroom
  • Still need to adjust comps - in progress
• Est Rehab: $20,000
  • Spoke with local contractors regarding price / sq ft of various tasks
  • Spoke with home depot in area for material costs
• Back Taxes: ~$2500
• Basic Info: 3 Bed, 1 Bath, 1600 sq ft, 50X80 ft lot, Built 1900
• Area Statistics: $78 Median Listing Home Price/Sq Ft ($78 X 1600 = $124,800)
• (This is taken straight from Realtor.com for East Linden Ohio)

Notes:

• New water heater (Permit)
• New furnace (Permit)
• New windows, doors, windows (Permit)
• (Siding was in progress then contractor disappeared)
• Second plot of land included next to property

Critical Questions: 

• What would be a good resource to learn "Wholesale Wording"? My partner and I would like to ensure we are not advertising the property specifically but rather the contract. Wording such as "I have a contract for sale in east linden" and so on.
• How does one typically go about adjusting comps for a particular region? I am finding some rough information for my area but do not have a clear (+100 sq ft = $$$). I plan to do some data analysis on the area to better quantify this.
• As a wholesaler, how can I best present rehab costs to buyers? My partner and I are planning to very thoroughly review all items in need of repair. We will then present a set of general categories with repair costs in each. This will be accompanied with a statement like "Further detail available upon request".

Again your comments on this would be very much appreciated. Please let me know if any additional information would help paint a better picture. I have extensive information on this deal. Have a great Friday!

-Alex Brandt

Hi Everyone, 

After many books and a motivational discussion with an experienced investor in my area, Brad Clarizio, I decided to stop waiting and dive into my first project. I want to post updates of this project as I go in order to help other new investors. One helpful thing I've done so far is set hard deadlines for myself. This way when I make phone calls, I can demonstrate a sense of urgency and be taken more seriously. I will post updates on this several times per week - please let me know what an appropriate sub forum for this would be. So far here is my progress, having started less than a week ago:

• - Initiate a search with Brad - He is a licensed agent as well as an investor
• - Visit a couple distressed properties in southern Columbus
• - Call several hard money lenders - set up meetings accordingly
• - Call a few inspectors - I have one ready to visit a property once I close
• - Call GCs - I have one GC who seems to be a good fit although I expect the renovation to be very challenging
• - Made a deal analysis excel sheet for calculating my offers (I prefer making my own)
  • - I added a "Factor of Safety" for my renovation time and cost
  • - With time and experience, I'll hopefully be able to adjust these
• - Accepted the fact that this is going to be very difficult with many obstacles to overcome

Throughout this process, any advice, critiques, etc. would be very much appreciated. I love how kind and welcoming everyone is in this community. I hope you all have a great weekend and I look forward to talking with you in the future!