All Forum Posts by: Account Closed

I have been buying my houses off the MLS, auction web sites, and other wholesalers. I wanted to receive some opinions if it is worth investing into marketing campaigns to find motivated sellers that are not listed on the MLS?

The local REI clubs I visit in my local area (st. louis) all seem to recommend some sort of marketing to find off MLS deals (Probates, Absentee owners, etc).

Thanks

Those selling through the MLS are typically motivated but with a catch though -- the property is likely to be priced at or above actual market value. Translation, very thin profit margins -- usually.

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Originally posted by @Robert Fisher:

3 adjacent properties in NYC are being sold together for $9 mil. What commission is reasonable? I would think the larger the amount, the percentage maybe be lower....? Broker is proposing 4.5%.

4.5% of $9,000,000 is a $405,000 pay check. A real estate broker will often be flexible regarding a commission rate when the property value gets in the millions.

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Originally posted by @Arvind Suraj Bhadhya:

I am an investor from Dubai and has a 2-3k $ to invest. Appreciate suggestions and advise on a secure investment with good cashflow.

Perhaps you need to clarify... did you mean 2-3K as in $2000 to $3000? or did you mean $200,000 to $300,000?

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Originally posted by @Steve Combs:

...My personal opinion is that they are no better than the value you could calculate yourself from Zillow or the county tax records....

That might be somewhat of an exaggeration.. the zestimate are in some cases 'way off'.

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Originally posted by @Justin Tahilramani:

@Account Closed - It has electric, septic, and city water. The lot is about 1/2 acre with a fenced back yard.

What city is this in? A local realtor in the area familiar with the rental market may have some insights into what the demand for renting mobile homes might be.

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Originally posted by @Robert Fisher:

Which I find kind of strange. Certain things may need be factored into the price.

If you were buying the property, when would you want the seller to disclose anyting material to you -- before or after?

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Originally posted by @Stephen Weber:

...I mailed out 7348 pieces in 2013 and I got 50 calls, but zero deals. I hired a mentor who suggested mailing to newer houses so maintenance is less of an issue. I mailed out 2091 postcards January 11, 2014 without a call....

Do you have any specifics regarding the nature of the list that you mailed to?

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Originally posted by @Ryan Billingsley:

We are doing a direct mail campaign for single family properties with much success. We plan to transition over to marketing for small to medium size multifamily units. Is direct mail a good way to market for multifamily units?

What sort of response rate are you getting for the mailings that you sent -- whether for SFRs or multi units?

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Originally posted by @Mark Cohen:

Around 2 weeks ago I did my first mailing to absentee owners. I was very specific in my criteria and only sent to 100 owners (will do more in coming weeks) I am a real estate agent and was not seeing anything good on mls (shocker) and I am actually looking to buy for myself as rental properties, so I figured I could give decent offers.

Well so far 3 callers, none especially motivated, all looking for considerably more than I would be willing to offer. I had casual, pleasant,15 min. conversations with each of them, all resulting in that they should list w/an agent. (I do mention at that point that I am also an agent, and while thats is not the intentions of my marketing I would be more than happy to help them sell)

I know its a small sample size, but these sellers all thought they could be patient and get more in this current market.

I am just wondering, as a first time marketer to absentees, is it typical that most responses are non motivated looking for top dollar (aka agents) do the motivated sellers only surface after multiple mailings?

Where these mostly SFRs, multi unit or both? It doesn't appear they had any pressing need to sell.

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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 380 times.

Post: Million dollar rehabs or lower end flips?

Post: Is Mareketing for non-MLS houses necessary?

Post: What's appropriate sales commission for a US$9 mil sale?

Post: Investment advise

Post: Appraisals

Post: Help analyze this deal please!

Post: Should disclosures be made before price negotiation? Or after? An agent seems to suggest settling price first then disclosure....

Post: Will direct mail find motivated sellers

Post: Direct Mail for Multi Family properties

Post: absentee owner mailing