All Forum Posts by: Jared Vidales

Hey BP Fam! I've posted a few times on here over the last 2-3 years, and thought I would contribute to show my love. BP influenced me to get out of the rat race, and into something I was passionate about. 

Below is a brief snapshot of the company history, starting with 4 partners in 2015 where our primary acquisition strategy was knocking doors, bandit signs, and handwriting letters. Fast forward to today -- only two partners remain, and we're doing 20-30 deals per month in 5 different markets. 

Below is a % breakdown of where our deals are currently coming from. We put a ton of emphasis on our telemarketing and sms lead generation. We spend anywhere from 15-20k in data per month alone, and distribute to our call center and sms platform. The call center we've built from scratch, and staff roughly 120 agents (only a small percentage are on our own personal campaigns, the remaining we sub contract out to other

The team required to make this magic happen consists of the following staff:

• (4) Acquisition Reps
• (1) Analyst
• (1) Transactions Manager
• (1) Dispositions Manager
• (1) Bookkeeper/Admin

We take an inside sales approach -- All offers are made over the phone, and contracts are executed via docusign. Once contracts are executed, we send an inspector out for a 5-point inspection. If the condition matches what the owner has conveyed, we move forward. If not, we discuss a re-trade (sales person set's the stage for this). 

Our acquisitions reps are simply skilled negotiators (we use John Martinez's) sales methodologies. They do not underwrite any deals, they're simply managers of their pipeline, making as many touches as possible, and focusing on qualify conversations. We leverage an in-house analyst who underwrites according to our buying/wholesale strategy. We found our acquisitions reps are able to produce far more by removing the task of comping from their plate. Below is red you can see where the analyst role lies within the acquisitions process. 

Goal for Q2 2019

Because our model is broken down like an assembly line, and each position is highly leveraged on other positions, we discovered we need to make a leap of faith and triple the size of our organization. The goal for each ACQ rep is 8 contracts (or 83k in Revenue/month), although not all of them hit that, we try to push the bar. 

• (10-12) Acquisition Reps
• (1) Acquisitions Mgr
• (2) Analyst
• (2) Transactions Manager
• (2) Dispositions Manager
• (1) Bookkeeper/Admin

That's where we're currently at, and where we are looking to be 3 quarters from now. If anyone has any questions, Im here to answer anything. 

I'll be messaging you guys as well. I need to refinance about 7 SFR's in Houston.

Hey guys!

Im currently holding about 7 properties in Houston right now cash. I need to refinance out at 75% LTV, and find a bank who would lend @ 5-5.5% interest. As more units come online, i need the flexibility to refinance tranches of homes.

Can anyone make any recommendations?

5 Bishopsgate Terrace, Henderson, NV 89074, USA

https://www.dropbox.com/sh/ep9l8c1caw2zht9/AADtFBw...

Needs full renovation

Call or Text

362 Linn Ln, Sunrise Manor, NV 89110 (85k)

https://www.dropbox.com/sh/p1mgowat28tfbj4/AABpvwc...

-Will be inheriting Month-to-month tenant. Has been renting for a few years @ $600, but fell behind due to hard times. 

Call or Text 

Wholesale deal in Fallbrook. Property is in preforeclosure, and needs repair. 

3494 Lake Cir Dr, Fallbrook, CA 92028

https://www.dropbox.com/sh/ne9rpskgrczbgk4/AAC0KXQ...

Call or Text me

1191 Callas Dr Oxnard CA ($465k)

https://www.dropbox.com/sh/5ndri4e9x3dax3d/AABDxI5...

Wholesale deal. Property will be delivered vacant at COE. Give me call or text. 

Model match sold for 535k in "as-is" condition. 

Please click the link below to get a LIVE feed of all our wholesale deals. These are deals that don't fit our buy-box in our target markets.

Click Here for LIVE Google Doc Wholesale Deals

Call/Text/Email

Hi All,

I just entered the Houston market with the goal of buying long term rentals. I closed something in Missouri City the other day, and the insurance was $3,000! The home was worth about 145k. 

Im now underwriting a 1996 brick build that I currently have in contract for 148k, its worth about $225k, and only needs carpet and paint. My basis is at 77% of Market value and my net yield is only 5.65% before debt! I know property taxes are insane, but the insurance kills it. 

Any help??