All Forum Posts by: Jonathan Miller

Thanks @Rick H. for getting back to me. Your story has inspired and has motivated me to continue to work those calls. When i make my calls, it is always from a mindset of helpfulness and service, which took me a while to finally achieve. 

Quick questions-  When you're recording your calls and play them back, what are you trying to work on? 

When you make your calls, are you calling a mix a leads (expirs, fsbos, probate, etc) or do you focus on one group at a time?

When you call the different leads, is your general script used for every type of lead or do you tailor that general script to each clientele?

I just ordered 80/20 Sales and Marketing and look forward to reading it. 

Thanks

Hey all,

I wanted to reach out to any other Realtors/Investors and get their take on Cold Calling, but let me elaborate: 

So I've been a Realtor in NJ for the last 2 years with no telemarketing/cold calling experience. Since then, I've gained a comfort level calling expireds on a daily basis in order to set listing appointments (Listings --> Leads --> Leverage) and each year I am slowly improving and gaining more business as a Realtor. 

I know that there are scripts to follow for different calls you make (Expireds, FSBO, Neighborhoods) as an agent. Currently I'm starting to call FSBOs but still do not have sufficient dialect in order to secure listings.

I had an breakthrough a couple days ago in Realizing I could call (FSBOs and Absentee Owners) as an investor. 

My difficulty is trying to realize how to make each call to various types (expirds, fsbo, AO, Probate) of properties using a universal script that makes sense.... Does that make any sense? 

I guess i'm just trying to conceptualize what I need to say to all calls in order to increase my listings but also pick out the properties I'm trying to put offers on. 

If anyone has ever started out as a Realtor/ RE agent and transitioned into RE investing, please help me understand the rhetoric I should be using on every call, especially since I'm a Realtor and must disclose that to each caller too. 

Thanks,

Jonathan

@Teri Feeney Styers 

I always add at least 36% gross rent for CapEx, Vacancy Rate, Repairs, Property Management. Is that a good percentage to be at for all four expenses?

@Teri Feeney Styers @Alexander Ball 

If say you did wrap in 30k repair budget; In the repair input of the calculator, would you leave it blank or would you add a few $k to be safe?

Thanks

Thanks Terri!

Ok thank you for your input Alexander!

Hey,

Quick question regarding the BP Rental Calculator-

If i'm trying to calculate a 4-plex that needs work (wanting to use fha 203k/BRRRR),

Where I enter the purchase price amount, Do I enter the the price of what the house sold for, or do I wrap in the projected repair costs that would represent the true cost of the loan? 

If I wrap in the entire loan amount, do I set the repair costs to $0?

Thanks!

@Jason Gass Once I figured out that the property was listed on the MLS, I made sure to find out whether the seller was signed with the exclusive right to sell or exclusive agency listing, which in that case, would not be unethical. Turns out it is a exclusive agency listing so I was safe in talking with her.

However, when I followed up with her to check out the property, she informed me that the agent had found a buyer and was subject to FHA approval. She told me to check back with her to see if the deal fell through.

@Ro Maga Finding out what she wants/needs was exactly what I was planning on doing when we were to meet up. 

Would you suggest going forward to offer shorter term agreements with the sellers? I just want to make sure my offers aren't scoffed at and taken seriously. I want to make sure my reputation as an investor grows to be a reliable one. 

I'm going to keep digging on BP. I'm actually going to be upgrading my account today. 

Thanks!

@Ro Maga The immediate area where the property is has more fixer-uppers that have sold at low prices ($7k-$45k) that are in the process of being fixed up. The comps I provided reflect neighboring areas (1 mile radius) that have shown property values as high as $146k. I would be essentially betting on the immediate neighborhood on improving, increasing property value. 

What would you do in order to make the deal more of a win-win? 

Thanks 

Ok thank you Corey, I'll be reaching out to a RE attorney soon.