All Forum Posts by: Brent Hill

Here are the types of mail we send out in the program.  Sorry about the formatting...PM if you want an email of the info:

Direct Mail Budget and Implementation

1. Listsource list
1. Always keep original
2. Full name, last name, mailing address, city, state, zip code

i.Don’t need zip+4. Post office will run it through their NCOA system

1. Clean it up

i.Sort by last name

1.some people won’t have last names

a.remove trusts, corps, llcs, inc, etc

b.Use “family of <last name>”

1. Send list to yellow letters
1. What I want to send
2. Frequency
3. Let them do their magic
2. What do I send
1. Small 1st class Postcard

i.Needs a call to action

1.Urgent Notice

2.includes name

3.phone number

4.owners city

5.multicolored – red, green

6.back of postcard

a.Attention, call to action

ii.1st month

iii.include cost of list in budget

iv.will get 6% returned to us undeliverable

1.people have moved

2.haven’t updated post office

3.only get back if 1st class stamp

a.1st class-treated with priorty

b.2-3 days priority

c.will send back to you if bad address

4.never use a pitney bowes machine

v.we want to get mail back of bad addresses

1.try to find owner, PI, skip trace

2.find about any liens, taxes, etc for abandons

3.a really good resource for prospects

vi.MQ doesn’t remove them from the list…you may want to

1.on a tight budget remove them

2.if not, you will get new list in 6 mos

vii.Takes 5 business days to produce and mail

1. Yellow letter

i.Goes out 30 days after 1st piece

ii.Looks to be handwritten

iii.Red ink

iv.Invitation envelope

v.Use different phone number than 1st piece

1.want consumer to believe 2 different people are marketing to them

1. Larger postcard

i.Property Address Notice

ii.Phone number in red ink with arrow

iii.Final Notice

iv.There is a better way to sell your home

v.It is twice size of the small postcard

vi.Uses a standard stamp

1.won’t get sent back if undeliverable

2.will take longer to get to owner

3.bigger than a standard envelope

1. Zip letter

i.Message same as large postcard

ii.Has to be torn open

iii.Looks like jury duty, govt notice

iv.Very official looking

v.Tear away that they can return on bottom

vi.Gives the prospect 4 ways to contact you

1.older people like it

1. Professional letter

i.Use logo

ii.Handwritten signature in blue

iii.Similar message

iv.Big points in bold

v.In a #10 envelope

1. Greeting card

i.Put a business card inside it

ii.Match the month your in

1.Christmas, easter, mothers day, 4th july, thxgiving, etc

2.all about nurturing

@Thomas Strock  Everyone has said it but you are looking for motivation.  Market to these lists consistently and you will find deals:

Sorry about the formatting...PM me and I can email you something that looks nicer. 

LISTS

1. Primary Lists
1. Equity owner

i.30-100% equity

ii.owned 4 years or longer

iii.SFR

1.no apts, condos, land, MH, MF, etc

iv.1-3 bedrooms

1.this is where they buyers buys

v.Home values that are less than the median sales price in area

vi.Exclude corps and trusts

1.harder to deal with

2.more sophisticated

3.won’t get as good as deal typically

vii.Absentee owner

1.out of state – 1st best

2.in state, but out of city – 2nd best

3.in city – 4th

4.everybody markets to them

5.1st call pretty fast

viii.Owner occupied

1.65 years or older – 3rd

a.owned for 15 years or longer

i.most likely deferred maintenance

b.do not use home as a retirement vehicle

i.will want to be moving

ii.kids have moved out

iii.neighborhoods have changed

iv.need a care facility

2.everybody else – 5th

3.not getting bombarded

4.1st call a little slower because they don’t’ get touched as much

1. Market for 90 days, every 3 weeks if you can

i.Shorter than 3 weeks is too fast

ii.More than 6 weeks is too long

1. You absolutely must have bought a house after getting 90 calls

i.If not, your list must be faulty

1. Sub-lists
1. Obituary notice

i.Not a probate

ii.Not inherited

iii.Might be a trust

1. Probates

i.Has to have real estate attached

1. Inherited

i.Didn’t go through probate

ii.More than likely a quick claim deed, special warranty deed

1. Unlawful detainers(evictions)

i.Court action by landlord against tenant

1. Divorcees

i.Has to have property involved

1. Pre-foreclosures

i.Period of time that lender has lender has to change ownership of property

ii.Lis pendens

iii.notice of default

1.judicial or non-judicial

iv.most don’t market to trustees because it happens so fast

1. Mortgage lates

i.30, 60, 90, 120

ii.behind but not in foreclosure

iii.30 days is too short to market too…could get caught up on payment

iv.60, 90 days is better to market to

1. Expired listings

i.Setup as a hot list

1. FSBO/FRBO

i.Put in yard or websites

ii.Call the phone number on sign

iii.Send mail if you are getting a subscribed list

iv.This is a hot call

v.Set appointments to buy, not sell

1.it is important that all the decision makers are there when I come to buy your house. Will allthe decision maker be present?

1. Tax-liens

i.2 years in Florida

ii.figure out the redemption period is

1. Active listings

i.Brand new, just listed

1.get daily list

2.person is highly motivated, make an offer

3.make sure they are on your main, equity list

ii.All 90 day listings

1.Going to expired in a day or two

2.Pull list at 85 days

3.Send out a letter saying you want to buy house

4.Will get letter as soon as it expires

iii.All 120 day listings

1.Same as 90 day

iv.All 180 day listings

1.Same as 90 day

1. REO properties

i.Pull list on all 7 day REO's

ii.Write offers on all properties

iii.Don’t need to be on main equity list

1. Short sales

i.Will find through pre-foreclosures

ii.Will find through mortgage lates

iii.Get under contract and negotiate with lender

iv.Don’t need to be on equity list

1. Vacant & Abandoned

i.Driving for dollars

ii.Returned mail from mailings

iii.Knock on main door, then neighbors

iv.Send something in mail

1.use 1st class postage

a.Write “Do Not Forward”

b.Write “Address Correction Request”

v.Can find on MLS also

1. Don’t market to any of these groups unless they are on the main equity list except for short sales and REOs
2. It is okay if the subgroups get more marketing pieces from your sub-group list

@Jay Hinrichs  That is why we read The 4-hour Work Week and we systemize everything and hire VAs to do most of it for us :-)

@Thomas Strock  Do what other wholesalers aren't doing?  It is the same as in most other professions where you are dealing with a readily available service/product.  It is a numbers game and being consistent day in and day out.  There are tons of licensed agents too but most newly licensed agents don't last long and they go away shortly.  Brokers depend on this new blood to pay those monthly fees.

Call 10 people every day and tell them what you do. Follow up with them monthly. Network at every REI event and actually put them in your contact list and stay in touch with them. Call FSBO every day. Drive for dollars every week. Follow up with every prospect every month without fail. Go to your local county office and figure out how to get data on unlawful detainers, notice of defaults, divorces, death certificates, Quit claim deeds, back taxes of 2 years or more and code violations...start building those lists and mail to them consistently.

If lawful, put out at least 25 bandit signs every week.  Create 5 craigslist accounts and post 5 ads to 3 different categories on one day, then a new 5 ads the next day...renew them every 48 hours so you will always have at least 30 ads on craigslist..I could go on...there isnt much magic...just keep pressing forward, talking to people, learning and don't be afraid of failing or making a mistake or be afraid of the naysayers...hang around and get to know the best wholesalers in your area...talk to them and try to emulate what they do...they should get you started.

One small critique of the program about 4-5 months into it....having to schedule your classes every week manually is a PIA!  LOL  

I would like to see a standing schedule that is permanent (maybe with an occassional change) where you know the schedule every week, what day, what time with the login information so you can put it on  your calendar recurring permanently for the 6 months.  If you want to participate you can, if you choose not too that is fine too.  My gripe is that if you don't get a class scheduled in time you may miss out on it for that week.  The program does email you weekly telling you to schedule your classes.

@Eric F. I would have wholesaled it for about 8K. Yes, wholetailing for me was more work because it is occupied. I should have just done 2 open houses, but instead I tried to let everyone look at it that was interested. It was a total pain because the occupant didnt want to give free access any time so working around their schedule was time consuming. I listed it myself to save some money. If you got he time, list it on the MLS.

My goal initially is to do 2-3 deals/month so I can quit my full-time gig.  

I could have sold it for about 5K less 30 days ago so sometimes it seems like it would have been worth it but i am still learning.  i think i will judge each situaiton accordingly.  I have decided I will assign, wholesale, wholetail or flip depending on the situation.  Looking back on this deal, I wish I would have had my hard money lined up and would have entertained the idea of flipping because I could have doubled my profit....fear just gets in the way sometimes.  i will be ready for the next deal.  Please call or text with more quesitons.

Sorry, I haven't had more feedback on the MQ program but honestly I haven't committed much time to it lately trying to close this current deal, working my other job and raising my family.  I have about 2 months left in the program so I promised to provide for feedback to all soon.

Well, my deal has yet to close, but I have a contract at 93K.  will net about 13K at end of day...better than wholesaling but not a homerun by any stretch of the imagination.  I am going to do things a little different on the next one.  When the house is occupied, showing it is a pain and money was left on the table because the occupant grew weary,upset and angry at one point.  People coming by unannounced, wanting to see it on 1 hours notice...a total pain!

Here is what i would change:

1.  Take good pictures of everything!

2.  Take video of property

3. Include BPO on MLS listing

4. Take property as an LLC or land trust and open the bidder pool to 203K buyers..the land trust or LLC will help avoid seasoning issues

5.  Schedule 1 or 2 open houses

6. Spell out precisely how the offers should be submitted. For example, EMD, inspection days, who pays what costs.

scheduled to close on a house next friday. Occupant(newphew of owner) is refusing to move until he has the money for a place to buy. I told him we can't close until the property is vacant 2 days prior to closing. I have offered a small amount of cash, found a trailer with land with owner financing and I know is mother is willing to put him up for a while until he finds something. My contract is good until the end of month and I really don't want to mediate or pursue any legal action if I don't have to. I have a call in with the owner(occupants uncle). Any ideas or suggestions?

I will ask and I already posted on the FB group, but it just happened...LOL

I had the buyer on my first wholetail deal present offer on Florida AS-IS contract...my broker says we can only use those. BRS Better Neighborhoods/Altisouce/homes.com out of Atlanta locked up property in 2 days and after 5 day inspection asked for a 30K reduction in price of course I said hell no so we cancelled the contract. I am upset because they wasted valuable time with only the intention of using this technique. Broker says I can't do a non-refundable deposit. How do I avoid this? I think my first mistake was taking too long to list it and only accepting cash offers. I am going to end up wholesaling for way less money. Not feeling confident in wholetailing because of the slowness and the shenanigans that appear to be common with big out of state investment firms.