All Forum Posts by: Keith Belzner

@Jeff Sadosky  @Azeez K. thanks for the advice.

The rent is in line with local 1600 - 1750. Again at this point not knowing repairs is tough. 

Hi BP,

  I meet with my first owner this evening, nervous to say the least. Looking for input as to what I know so far. A few things first, I do not have it under contract. I have not seen it due to current tenants, will be seeing it this weekend. With that I do not know what repairs are needed yet just what the owner has told me, taking it at face value from him. I have let him know that i can't give numbers until i see it. Here is the info I have so far:

Currently rented: $1600 month  The lease is up the end of May.

Located in Nottingham MD 21236  3 story townhome  3 / 1.5 

He purchased in 2007 for 239K  with a balance of 140K now. taxes $2856   (did not get the payment #)

local comps are 210 - 225  with avg day on market of 30

He said he wants 215k via zillow.    Hes looking to get out of land lording and move out of state soon. 

My main question is what would be a number that would make this a deal? My thoughts are this would be a buy and hold or if i can get it low enough ie. 145-150 range might be a doable wholetail type. I am not hopeful but just wanted some input and advice. My preliminary call is no thanks and move on. I am going over all the numbers more from a learning standpoint but if it has potential then who knows.

Thanks in advance   

Just from a personal standpoint, my 77 year old mother received a colored small envelope (like it was a birthday card or something like it from a friend) with a handwritten printed font, that was pretty good with just a quick glance. When she picked it out of the mail stack she saw in an instant that it was a fake and her words "more junk mail".We opened it and low and behold a postcard ad for AT&T. Im not going to argue against others here who have been at it longer then me, I read all that you / they say and listen. I just think sometimes things need to be changed or even tweaked. I dont want to reinvent the wheel but maybe just them shine a bit brighter. Again my disclaimer is I am new and just only sent my first small campaign out a week ago, less then 100, and received a few calls. 

@Michael Quarles

#6- and am I the only one who see bankruptcy in the logo. I think that's a huge red flag.

Michael please explain.

So how do you explain to friends and family what you are doing when it comes to wholesaling? A few times I have started out by saying " you know those we buy houses" signs and gone from there about how real estate wholesaling basically works. Is there a better way that wont get the almost always first question of "Is this legal?".  

@Chaz Reid @Corey Fick  @Tyler Weinrich @Josh Caldwell

Ok , thank you all for this input and help. Here is a copy of my letter without the qr code. What do you think? Im marketing to AO's in my neighborhood. My area SF homes avg 250k - 300k  with rents in the 1400 - 1800 range with minor to mid level rehabs as opposed to full guts. After researching the owners most live in nicer areas. I looked at a lot of yellow letter examples and to me for this area and owner income range I felt the typical in your face letter would be to "low brow"(no offense to anyone). I personal like the more business look. The highlighted areas are were i input automatically from my database, I also sign each one.Just a side not I sent out 50 last week and received 1 call from it. Im doing 200 as we speak.

Hi BP,

  Are any of you using QR codes in your marketing? I am thinking that I might add a small one to the bottom of my letters and postcards as I send them out. With today's technology driven culture I think a lot of people will use it to go straight to my web site instead of putting the letter down and logging onto the computer. Its quick and easy information for them.

Thoughts, experience? 

Hi BP,

  I sent out a very small letter campaign last week to about 100 AO's that I found by researching the tax assessment site. I know that 100 is nothing but after months of studying and learning I made the decision to do something, good or bad, right or wrong I TOOK ACTION. 

With almost zero expectation of anything coming of it, I was thrilled when I received a call on Thursday from someone who said they are not currently in the market to sell but still want to talk to me. They left a voice mail, I have tried to call them back repeatedly with no answer but I don't care.

I TOOK ACTION AND GOT A RESPONSE. For me its the first step to my future. 

Just had to give myself a pat on the back. But no time to celebrate I must push even harder now for that next call back.

Hey @Jacob Michaels  yes knowing that how people operate I am ahead of the game. I had to mess with them a bit, i doubt they even saw this:

Great. We have a few questions before we call you.
Is the house in good condition ?

I feel it is in pretty good shape.

Does it need any repairs ?

Other then its missing 3 walls and the roof I dont believe so.
How long have you been in the property ?

3
Why are you selling it ?

I need cash for my "operation"
Are you flexible on the price ?

No I need what I am asking.
If we paid all cash and closed quickly what would you need ?

At Least $75,000 plus a ZR1 corvete.
What's the best number to call you if we have anymore questions ?

The one that does not involve an automatic email response. If you read my email I stated that I am a wholesaler like yourself and that I did not have a house. I am looking for buyers to add to my data base.

I posted an ad on craigslist looking for interested investors / cash buyers who are looking to purchase when i have properties available in the future. I did not say I had a property and then say oh sorry its sold but give me your info and ill get back to you. I was upfront that i am building my buyers database. 

I got an email that asked if I still have the house for sale. I replied that as my ad stated, I have no house just looking for buyers for the future. here is the next email from this person. Obvious a wholesaler which is fine but the response is a "robo response" as i call it. I am looking at wholesaling and this type of person ,to me ,is the type that cause people to hate wholesalers.