All Forum Posts by: Jon Klaus

I recently purchased a 1,300 sq ft 3/1 SFR wood frame in Garland and it is doing very well. I found a tenant within 2 weeks at $1,200 per month. It is fairly nice inside with hardwood floors.I expect it to cash flow about $300 per month.

How much did you pay for it, Mark? It wasn't that long ago that 3-2-2 brick homes in Garland were going for $1200/mo.

0 Votes

Originally posted by @Doug N.:

Originally posted by @Steve Vaughan:

I moved into the 7-10 unit asset class specifically for that reason.

Lots of tired landlords with free and clear properties looking for headache-free income monthly. At least I can rehab the paper.

I remember the last easy money bubble. A lot have forgotten about it already.

I am really wishing for a 'multiple votes' button on the forums, or perhaps a 'stuff the BP ballot box' greasemonkey script.

Very inspirational, thanks much, Steve!

I like Steve's tag line:

"Trust is gained in drops but lost in buckets."

1 Vote

I've been with Equity Trust for several years. I considered switching away from them a couple of years ago when I had some bumpy transactions, but they seem to have worked those issues out They do not offer checkbook control IRAs. If you don't need that kind of control, I do recommend them. They do have a pretty effective bill pay system now, so I don't feel the need for checkbook control.

1 Vote

Awesome update, Rich. I'm sure you are glad to have all the hurdles of The Grand Prarie and Mesqute acquisitions behind you. I see new apartments going up at Oates and Gus Thomasson.

I bought my Garland office building in 2008. Value is now close to double what I paid. Thinking of selling soon as my loan comes due it 18 months.

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I think any single method could be overused and lose effectiveness. However, I think one to one marketing to buy property will always have effective methods. Also, while some areas are saturated with yellow letters, other areas get none at all. If you figure out a niche where other buyers aren't playing, your response rate can be excellent.

I also believe in marketing to highly competitive areas if it fits your objectives. Recently a seller called me from my yellow letter, and told me she had received five similar pieces that day. I still ended up buying five properties from her, as she was a retiring landlord.

1 Vote

That's great, David. You should consider writing an article for BiggerPockets.

@Brandon Turner

3 Votes

I prefer glass top. It's a little extra for a big impression for your renters. Position your units higher, get better tenants, and more rent.

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Originally posted by @David Dey:

Ok, I hope you are still looking at this thread because there has been some really great info and ideas to come out of it.

I will now throw in my 2 cents. The list you are developing is much to valuable to be leaving it to a hit or miss mailing campaign. You know for a fact that because of the shape and issues regarding the properties on your list that if you could just get in front of them, you would probably get the deal.

The problem is that they are people just like you, that stand over their trash can sorting their mail, just like you. And yes, they are getting at least 20-30 yellow letters or post cards that all say the same thing. "I'd like to buy your house!!"

The thing is most people would rather run from their pain then face it and resolve it. That's why they drop letter after letter into their circular file and actually get desensitized to the deluge of mail.

I have been marketing to this same list in my areas for years and I never get less then 5-10 deals each month, by simply going one step further... I call them.

Again, you've already gone through so much trouble narrowing down your list to the potency that you want, why not take the one step that everybody else isn't taking and call them?

Or if you are too nervous or find it too uncomfortable to call them yourself, put an ad on Craigslist for an appointment setter on a commission basis and let them do the calling for you. (I myself have 5 additional callers that bring me deals on a silver platter)

My average call to deal ratio is better than 1 out of 10 as long as their problem is one I want to solve, I can usually get the deal.

I hope I'm not coming off brash with this, and I apologize if I am. I just believe that by stepping a little bit out of your comfort zone, you will realize a tremendous upswing in your business.

If you would like a couple of scripts on what we say to our sellers, feel free to pm me and I'll get it to you.

Just remember, to get the results that others aren't getting, you must do the things the others aren't doing.

Hope this helps

You are doing the thing that the others don't do to get to the tipping point. How are you getting their phone numbers?

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All Forum Posts by: Jon Klaus

Jon Klaus has started 322 posts and replied 7794 times.

Post: My first Turn Key deal - its not impressive...

Post: My first Turn Key deal - its not impressive...

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Post: My Direct Mail Campaign Results Have Been Atrocious

Post: Coil top stove OR Glass Top Stove?

Post: My Direct Mail Campaign Results Have Been Atrocious