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All Forum Posts by: Craig Moore

Craig Moore has started 40 posts and replied 187 times.

Post: Buy multi-families or save for apartment complex?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41
Originally posted by @Hubert Washington:

@Craig Moore

Investing in apartments is different than investing in smaller multi-family properties (less than 5 units). If you haven't already, begin educating yourself about the apartment side of multifamily and see if it is for you. I recommend 3 books on the subject:

1) ABCs of Real Estate Investing by Ken McElroy
2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro
3) Multi-Family Millions by David Lindhal

This will give you a good idea of what it takes to invest in apartments. You can determine if it fits with your own personal goals and if you want to start out with smaller multifamily properties first or go straight into apartments. You may also want to read through the great responses from the BP community I received on my post 

1st Investment be in Multifamily/Apartments?

Best of luck you on your journey and let me know if there is anything I can do to help you out!

 Thanks, Hubert! Awesome answer. I am an avid reader and will look into those. Great thread by the way. Good luck on getting started. This can be a very stressful career path but rewarding in the end.

Post: Buy multi-families or save for apartment complex?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

Hi BP,

I have an open-ended question here. I've been saving capital to purchase my first multi-family property but just realized that while I would like to start my property portfolio that I am in no rush. I have sat on the idea of building it with multi-families but recently thought to myself, "why not just wait a little longer and save a bit more and go for the bigger fish?" Is this reasonable? I'm only 23 and think that scalability would be a huge draw for me. In theory, if I could buy a multi this year or next year that'd be great but wouldn't the idea of pushing off buying for 3 years to save up for a complex be more sound and scalable? Thoughts? What would you do?

Post: 1st Campaign 1000 Leads 1 phonecall, 1 offer. Remail or new list?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

I have what may be a rhetorical question. When sending letters in the mail, let's say 1,000. Are you literally handwriting every return address and send to address on every letter?

Post: Cold Calling Script / White Pages

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

Hi BP,

After searching online for two distressed properties that I've found, a good guy @Ray Hurteau ,recommended White Pages to me. After signing up for a free trial (apparently $30/mo after) I found a few numbers and addresses which I will be utilizing tomorrow. Do any of you use white pages actively? Is it worth the $30/mo?

For both of these properties I was considering opening the call by telling them I was driving and saw that the house was boarded up and if they knew who the owner was. This could go good or bad, especially if they don't feel like sharing information. Nonetheless, some of these people have only lived in one of the apartments, not necessarily owned it, which makes this that much more crucial IMO. Thoughts? Any of you all have a go-to cold calling script for could be tenants of a distressed property?

Post: How do I pull public records?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41
Originally posted by @Ray Hurteau:

@Craig Moore

http://www.cityofboston.gov/assessing/

or just search the town name + assessor database

everything near boston is online

you should also become familiar with:

http://www.masslandrecords.com/

you can see all recorded property info... it can take a few days and lots of reading of documents to become familiar with all the various types and ways to search

go get 'em!

 Ray, my man! Thanks for the advice. I found one owner's name earlier this AM on the cityofboston site but that's it. Next challenge is finding his number. That I suspect will be the challenge. I sent you a pic of one of the houses. Not sure where to go. Shoot me a text when you're free.

Post: How do I pull public records?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41
Originally posted by @Account Closed:

Craig, depending on the town, you may be able to access property specific records directly through the town website. Prior assessments, owners, tax info, foreclosure details may all be available online. I have lived in a couple of small towns where the website did not have all of this info, so in that case you would have to go to town hall and have the records pulled manually. Then you can print copies for the properties tour interested in. Hope that helps.

 Oh wow. I'll have to look into all of these options. Awesome to know that you are from Boston as well!

Post: How do I pull public records?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

Hi BP,

I've searched through Google for specific ways to pull public records but I would like to know the ways you all do this. I am a new REI and soon to be wholesaler. I have almost have all of my eggs in a row. Over the weekend I was driving for dollars and noticed two boarded up houses. I have seen these houses in these conditions before (and I'm talking months;year). I believe that this would be a ginormous start for me if I can get in on one of these.

P.S. any Boston wholesalers or investors out there looking to join my buyer's list please feel free to add me or shoot me a PM.

Thanks,

Post: Boston Wholesalers/ New REI

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

Hi BP,

I'm interested in seeing who and where the other wholesalers in the Boston area are. I'm apart of a few Boston REIA clubs but figured I'd post here. I'm looking to hear any and all of the experiences that you all have had. I'm also looking to begin wholesaling this month or by April. I have everything set-up I just have no idea how to go about all of this and would love some help.

Thanks,

Post: 22 Years Old with 20 Units in 10 Months!

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41

Wow! This is awesome, man. I'm 23 and just getting started. I however, did not think as BIG as you. I, too, would like to buy multi-families, but my forecast was to have 20 units by 30. You have completely done that already and you're one year younger than I. Amazing! Damn I'm moving slow.. keep up the good work.

Post: How much does your marketing budget impact your campaign?

Craig MoorePosted
  • Commercial Property Manager/Facilities Manager
  • Boston, MA
  • Posts 187
  • Votes 41
Originally posted by @Chris Boyd:

Good question. From experience I would say postcards and letters will net a 1-3% response rate. So based on your hypothetical, person B should be more successful, granted they have adequate negotiation skills. $1000 a month to start is fine. Don't compare, compete! 

All the best!

CB

 Good answer. I plan on sending out ~1,000 letters per month. So 1-3% of that is 10-30.. which isn't bad imo. I am one or two deals away from having the 5% downpayment.