All Forum Posts by: Caito Coloma

Thank you @Garrett Christensen I truly appreciate the response. That's exactly how I feel, its plenty of time for buyers to appreciate the home without overlapping the showing. I wasn't sure if this was an unethical practice. 

Thanks again

Caito

Hello everyone, 

I wanted to ask your opinion on something that caught my attention recently from a local luxury realtor. He was giving advice to buyer agents, basically saying that when you have a showing appointment but the listing agent has scheduled several showings at the same time, to just take your buyer and move on. 

Now being a new agent but also someone who has worked under one of the top producers in Miami I learned a thing or two. I will usually only do showings one time and schedule them for 1-2 hours to give people enough time to show up. I have all of the interested buyers agents confirm their arrival time and space them out approx. 15 mins before the next agent shows up. 

So my question is in your opinion. Do you think that this practice is unethical? 

Thoughts, comments, criticism, tips  from both sides would be appreciated.

Hello Everyone I've been doing some driving for dollars lately and came across a building that looks a bit rough. 

It is currently zoned:
6100 COMMERCIAL - NEIGHBORHOOD /3415 ENCLOSED RECREATIONAL ARENA: ENTERTAINMENT

sitting immediately to one side is a duplex zoned multifamily 2-9 units and to the other side is a vacant lot zoned duplex single family

The building is living 7000 SQ FT and according to a document online is being used as a house of worship/church

I saw a comp for an apartment complex 18Beds / 6Baths that sold cash for  $1,360,000 which looked to be in livable ok condition with living 7500 SQ FT.

So basically what do I need to know in order to present an offer for the property considering it would need to be converted to a apartment complex with engineering city hearing zoning etc. I don't see any comps for churches that have sold and I know the owners are in distress since the taxes have not been paid for the past few years and the building appears vacant. 

Just want to have my ducks lined up before I call in case this turns out to be something good

Thank You!

Thank you @Tim Oppelt good stuff, I'm currently trying to do some PPC ads myself and definitely was interested in knowing where that needs to be so my business could take off. Currently generating 1 lead via my website per month so definitely need to bump it up. I think my biggest problem is google ads showing in areas where I am not targeting. Don't understand that aspect.

@Jeff Stephens thanks so much for your insight. It makes complete sense how potential sellers will approach using different methods of contact. My main system of marketing is currently Direct mail with a mix of postcards and letters touching my seller list at least once a month. However, this method has not proven itself yet as all I continue to get are those "take me off your list" calls. Definitely leaning more into the PPC lead gen through the website. Thanks again!

Hello BP fam, wanted to see who would share some insight on what it actually takes to be successful in the real estate business as far as lead generation goes. 

Would you be willing to share a quick insight into what that looks like in your business? Whether you wholesale, flip, Brrrr, or are an agent, let us know what type of business you run.

What does your marketing strategy look like (ex. Direct Mail, Word of Mouth, Billboard, SEO, PPC Etc)?

How many leads are you generating per month in your funnel vs how many of those leads you are sending offers to.

Lastly of those offers how many are you closing?

Hopefully, this will give some investors a better idea of where their funnel needs to be in order for them to scale or get their first deal. 

Thanks again BP Fam!

Hey @Malik Inkatha

great question by the way. I have actually been thinking of doing the same thing with my wholesaling business. Honestly, I don't see why it wouldn't work, especially if you know a few people that wouldn't mind placing them on their cars for you such as family and friends. More exposure, minimum advertising cost, and no violations for placing signs around the city. Something else to consider is custom we buy houses shirts and some business cards to hand out if someone asks. Let me know how it goes. Good Luck!

Hey @Scott Blackburn I have done 3 flips in my investing career and just recently began to go full time into wholesaling. There are many avenues in real estate whether it be Buying rentals, Wholesaling, Flipping, Note investing, Syndication, etc.  I am not a professional by any means but one thing I have learned is you need to decide on which path of real estate you want to take. Once you have that path and your goals clearly defined then I would hit the ground running as you said. Something that has been working for me so far is listening to all of the wholesale podcasts from bigger pockets including some on the rookie wholesale podcasts that can be extremely motivational. As far as books, I did read the book on rental property investing by @Brandon Turner although it is about rental properties I believe this book contains tons of invaluable information that can be used in other avenues of investing as well as get a good understanding of the number needed to be successful as a real estate investor. I hope this helps and wish you the best of luck! 

Hello BP Fam I live in Miami FL and have decided primarily to focus myself on the wholesaling aspect of real estate. Ive done some flips before in the past and after currently going through a not so good transaction with a local wholesaler on a purchase, I figured wholesaling would be a great way to invest with less risk, as well as keep some properties for myself if they turn out to be great deals.

I subscribed myself to Propstream, defined my strike zone and have mailed approximately 600 postcards so far. Since doing that I received my first lead directly through my website including a call from an owner asking to be taken off the mailing list plus some more traffic to my site as a result. Not saying these are great strides but small wins in my perspective.

My question is do you have any tips for when I talk to these sellers or what I should do next? What are we typically offering in Miami to stay competitive in the market? I don't see where the 70% rule would work out in this market so I would not want to offer more than flippers would pay but I also would not want to be way under either and miss out on some good opportunities.  

Also I am targeting pre foreclosure single family homes and duplexes with values up to 250K in case this is relevant 

Thanks @Nick C. And @Will Barnard yes title company is legit I verified their info. Also yea the AB mentioned using their title company. Thanks guys!

Hello BP fam, I am in the middle of purchasing my first property from a wholesaler, as you can see in my previous post. My question now is, can I have my own title company prepare my closing documents and forward to the wholesalers company for closing? I know that in a regular transaction it can be done, but since the contract is being assigned to me is this possible?

Once again appreciate any feedback.

Thanks