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All Forum Posts by: Craig Moore

Craig Moore has started 40 posts and replied 187 times.

Post: Should you be setting up a voicemail?

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

BP,

Quick question - is having a voicemail necessary? I've read a few posts about people having the calls sent to their voicemail. What are the pros of this? I assume most people say this because they may be at work and cannot answer immediately, but what other benefits come from this? I'm planning on answering as they call, if possible.

Post: Direct Mail Critera (Listsource) - Thoughts?

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

Craig,

What website / source are you using to get these leads? Your cities seem to be spread around, what made you target these four cities?

Everett has worked well for me, I have a three family on the Everett / Malden line.

 I used ListSource. I currently live in Mattapan, so I'm not far from Randolph and have some familiarity with it. I went to school in Newton, so I also have some familiarity with Waltham. Everett and Revere have always interested me. All 4 of them seem to offer reasonable rents and/or opportunity. What has your experience been investing in Everett? If you'd like to converse more privately I'll send you a colleague request.

Thanks,

Post: Direct Mail Critera (Listsource) - Thoughts?

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

@Craig Moore

Absentee looks good, also make sure you are getting out of state absentee, owner occupied may be less motivated but def worth a shot 

If you have 4152 leads. I think you would benefit more from filtering your list- 

Location: Only use zip codes interested in areas investing in.. which areas are you looking at specifically? 

Equity: 40% or greater, Can use 30% greater as well. Equity piece looks good- Seller needs 2 things equity and motivation in order to do the deal 

I would definitely include Ownership: I chose over 4 years. At this time they may be looking to sell, and it should filter your list quite a bit 

Assessed Value: This gives me the assessed value of the houses I am looking to purchase. I would include this as well 

You can see what your list would look like when you add these few things, let me know how it looks 

 Steve,

Thanks for your feedback. 

I included both absentee and owner occupied. 

I'm looking in Randolph, Revere, Waltham and Everett currently.

I did not find an ownership option. Is it under a different name?

Did you base your assessment on how much you're pre-approved for?

Post: Direct Mail Critera (Listsource) - Thoughts?

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

@Steve Bracero expanding on our call last night. Please let me know your thoughts.

Post: Direct Mail Critera (Listsource) - Thoughts?

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

Hi BP,

I was hoping you all would be able to help me refine my criteria on Listsource. I'm just about ready to buy the list, but I would like to hear what you all think I could change (if needed) with my criteria. 

I'm looking to buy a 2 or 3 family in the MA area (FHA). Here is what I set my criteria at:

Mortgage: All mortgages

Absentee and Owner Occupied.

Property: Equity anywhere from 31% to 90%.

Property Type: Duplex/Triplex

Demographics: N/A.

Foreclosure: N/A.

Address Completeness: Mailing and Property Address complete.

Corporate owned: Exclude.

I am planning on sending out 600 letters to 3 towns for a total on 200 letters per town. Can you all please let me know what you think of this critera or if I should be more specific, etc.? I've got about 4,152 leads with this set-up.

Thanks,

Post: Direct Mail Questions: Professional Picture? What ifs?

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

@Craig Moore You can include the picture but it is up to you. You want to pay attention to things that work and do not work for your letters. Do not be afraid to change the wording completely if you do not get a response.

As far as who you call back, you want to make sure you speak with the actual owner (name on the deed). No one else has the right to sign a contract on the property. I have spoken to lots of people from mailers who are the child or some other relationship to the owner. It is OK to speak with them but make sure you have the correct person sign at the end of the day.

 So let's say you've only been qualified for a 500k mortgage, how do you prevent having owners who are selling for let's say... 650k calling your VM?

Post: Direct Mail Questions: Professional Picture? What ifs?

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

Hi BP,

I'm getting ready to send out my first direct mailing (about 400 typed letters). I have a question though, do you include a professional picture of yourself in the direct mail? I saw this before but didn't know if this was frequented.

Also, how do you know who to call back? If someone is way out of your price range is it even worth it? How do you disqualify callers?

Thanks,

Post: Which group of mailings has reaped the best rewards for you?

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

BP,

As I'm putting together my direct mail letter, I figured I would ask you all which group of direct mail did you:

1) See the most response with

2) Do the most deals in?

For example: Absentee? Foreclosure? Tax Delinquent? Is there a certain amount of equity you look for as well?

*P.S.*, if anyone is open to viewing my rough draft for my absentee mailing let me know. I'd love to have it critiqued.

Thanks,

Post: Using Direct Mail to buy your 1st multi FHA - Right idea?

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

@Craig Moore

I hear you on both fronts.

1. What areas are you looking?

2. What is your price point?

3. What's your time frame? (Direct mail could take time to gain traction and ultimately a successful response.)

In addition to your mailings, get the word out to as many people as you know (including RE agents, not just investors). Word of mouth is a strong messaging tool.

 1. I'm looking for areas anywhere from 30 mins outside of Boston. The rents just need to be adequate enough for me to househack. 

2. My max right now for a 203k loan is 300k with repairs. So, anything under that. It may be hard to find that close to Boston.

3. I'm in no rush, but hopefully by Fall.

Post: Finally Got Serious with Wholesaling

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

Do any of you have examples of scripts you could share?