All Forum Posts by: Keith Agnello

John Horner hey John, can you elaborate a little more on the market in Columbus? My father lives there and I want to help him get to an early retirement by coaching him through investing. I was going to start at the top of the year with him and wanted to start doing my homework on the market out there till then. Thanks!

Hello Everyone,

I am currently working on the start of the 3rd touch of my direct mailing campaign and I am wondering if it is a good idea to continue at my normal rhythm of mailings through the holiday season?

I would think that very few would want to sell during the Holidays cause they are pre-occupied or is it the opposite where owners would want to sell cause they can use the extra cash.

Any past experiences anyone would like to share would be awesome.

Thanks!

@LindaQuinton I am just stating I would like to buy their house for cash in as-is condition. The message always centers around those two key selling points. Some letters are shorter than others with more detail but always it states I buy houses for cash.

My response rate has been 3% on 3000 letters I have sent in the last 6 months. I have had some poor results in testing out different markets in Southern California but I have gotten feedback that this not bad for a market like the one I am in.

 I have yet to close a deal on this mailing but I am staying the course and narrowed down my list to 1000 that I am hitting for the second time with this go around.

One piece of advice is know your market and who your buyer is. Once you know that then mail to them consistently. I have made some costly mistakes.

Its actually gone down which is disappointing. I do have the second part of 1000 piece mailing going out this week and next so hopefully we see that increase. I wouldn't let that discourage you from outsourcing though if it is with in your means to outsource. I have been able to be more productive in other parts of my business which was the goal in outsourcing the mailing.

I will update you in a couple of weeks with overall results.

Hi and welcome @Jeanette Solorio to BP. OC can be a tough market but the first thing I would do is go on meetup.com and find local REI meetings and network with other investors. There is also a group on BP that meets monthly in Lake Forest that I know will be beneficial and I am disappointed in myself I haven't made it to one yet.

By networking you can learn from others businesses and see what is working for them locally.

Being a native New Yorker my question is where does New York go from here? And how does an investor take advantage of this changing climate?

I was doing it on my own and was doing it for about $.80 per letter. I used amazon.com for the 20lb yellow lined paper and the invitation styled envelopes. Myfont.com for the handwritten font that it installs into your word program for you. Ink I did through staples and with their rewards program and different rebates for ink it was pretty comparable to other stores. I recently outsourced my mailing to yellowletters.com just because from a productivity standpoint but if your budget restricts you from that then this is what I found to be the best solutions for me to do it myself. Hope that helps.

As much as love the results, I loved the video. One of the most creative realestate videos I ever came across. Congrats on both!!

I would 70% is the standard now instead of 65% since a lot of markets are now in seller markets. I would always say that it is always depending on the price range of properties you're looking at. 100k or less 65% 101k-500k 70% 500k or more 80% This seems to be the industry standard to me right now to me. But I think it's important to look at comps in your areas you are investing in and see what cash buyers arv% they are buying deals at. Every market is different.

Nixon Vayupak welcome to wholesaling in Orange County. Everyone thinks they're selling gold (and in some ways they're right). The only 2 things I can offer before you move on is: 1. Look at the comps and look at the lowest comps in that area and see if they're being reasonable. When looking at comps use Redfin and see how the property was paid for and if in cash that could be your buyer/investor. Contact that person and explain the deal and see if there is interest. Sometimes in OC ARV formulas go out the window and investors will pay way more than you think. I have found buyers willing to buy with little margins because the spreads are higher. 2. If they plan on listing the house at 630k then explain how much they will net which is usually 10% less than the selling price after realtor fees, taxes, closing costs, etc. and sell them on the price which would be $570k with a quick close. Quick close is the key, create insecurity of them going the retail route. Once again, in orange county it is tough because everyone feels they can sell the retail route which is not always the case.