All Forum Posts by: David Kelly

Hi @Greg Dickerson, you're exactly right. Here's the numbers: we typically get anywhere from 30-50 leads per month with our minimum requirement of ad spend. Most of these leads (80-90%) result in a second contact (phone call/email with the lead). On average it takes about 70-90 leads coming in to get 1 deal. Avg cost per lead typically comes out to roughly $20-$60 depending on the area we are running the ads. Avg cost per deal is around $3k-$5k, avg ROI depends on the investor but we're seeing most ROI's between 7-10x.

Its not as cheap as bird dogging typically. What makes this worth it is how it can be scaled up very easily compared to other methods of acquiring deals.

@jonathan Yeh

Yeah that seems fair to me as well. 

@Jason Seiner

These are old subfloors. Just get them natural and put new coats one between tenants. By far the cheapest and highest quality way of doing this. 

@Jason Seiner 

Old pine sub-floors are beaufil sanded down. The look great natural or stained. anything under 4$ a sq ft is good. I run a hardwood business on the side of my real-estate marketing company and we sand those down all the time. Ill post photos shortly.

Required by who? 

For some financing that may be the case. 

For the sake of the government permitting process to do work, often you have to live in a year to do your own work on the place. 

For Ex: In michigan where i live, most trades require a license. Plumbing, Electrial, HVAC and Builders themselves. 

If its your own house you can do all these things yourself, but you have to live in the house for a minimum of a year. 

What if you don't live in it a for a year? Im not sure maybe nothing but maybe big fines or something. 

Hi Everyone, I'm not totally new to bigger pockets but this is my first discussion. 

Me and my company run ads for investors to drive leads to them and have been doing so for a couple years now. Our success has been pretty darn good after we worked the kinks out of it. 

I'm wondering if anyone else uses this method? Id like to hear your experience with each of them.....

Google PPC? 

Facebook Ads? 

Instagram Ads? 

What other online methods do you use? 

Cameras might help but are the police really going to go after this people? You might consider a key a gate around it with key FOB access to everyone who lives there. Im sure this will cost you several thousand dollars, but i don't think giving every resident a key to a manual lock will work for long. 

I don't personally own any student housing, however I've been in construction a good part of my life. I have several ideas for you.

1. Thick drywall is key 5/8 or thicker. It does not feel good to punch through 5/8 or thicker drywall. 

2. Do not put a throw away style floor (laminate, carpet, cheap vinyl planks) in your property. You will have very high turn over in college housing and they will also destroy your throw away floors very quickly. Very few people are aware of how cheap you can get a real hardwood floors in a house. (Ask a contractor about cabin grade red oak) This Floor can just a have a new layer of finish rolled on between tenants and has the ability to last 50+ years.

3. Be Prepared for the smell of weed, ( carpet is bad for weed smells).

4. Cars in the grass will be a problem. 

5. Tough sinks, toilets, door nobs etc. Buy them in bulk and use the same ones on all your properties. 

6. Remember you will have lots of turnover semester to semester so set up lease accordingly.

7. Make mom or dad co-sign. 

Where i am in in Michigan, new construction is at 200$ per sf. I would be very very wary of anything that you believe will cost you under 100$ a sq. ft. Also, per sq. ft pricing can be very tricky. Having more bedrooms will bring down your sq. ft. number but the real cost of a structure lies in the foundation, kitchen and bathrooms.