All Forum Posts by: Ken Nyczaj

@Jorge De Jesus love the garage sale idea.

@Eric James Since I am either buy and holding or fix and flipping the properties 1 or 2 every few months would be just fine. If more come my way great, then I'll look to wholesale whatever else is left over. The response rate isn't great, but that's ok, at this point to the seller I am just a random person, after continuing to market, creating brand recognition and trust/ rapport with the seller I expect the response rate to increase, thus possibly increasing the close rate. The next round of letters will be professional type which should be a nice follow-up to the traditional yellow letters. Also, the next round will be 500 letters to two separate sets of sellers so 1,000 total.

@Henri Meli @Jorge De Jesus @Victor Noriega @Jerry Puckett @Rachel H. @Ola Dantis @Michael Quarles

Wanted to update everyone that has added to this post. From this specific mailing, I've gotten about a 2% response rate from 500 mailers. From the 10 people that called 4 were actual leads, that led on to further discussions, but lost 2 due to the owners asking for an exuberant amount of money. Took Michael Quarles idea I learned in his podcast to not even mention my offer so they're not insulted, but instead I asked them to do some research and get back to me- Thanks for the tip. Two other sellers remain on the fence, and they both have a few properties.

My next campaign will be slightly different as I will be putting a more personal touch into the message such as adding business cards and doing a more formal letter as opposed to a 5 x 7 yellow letter. The letter and business card will contain our logo to start getting some brand recognition in my farm areas. More to come...

@Wesley A Sanderson I don't have any experience purchasing in Florida yet, but my GF and I were looking at some condo's on the Atlantic Side north of Miami. Hallandale Beach area is quite inexpensive and you might have a great shot at buying under market value. To my knowledge, public schools in that county are poor so the property may be very slow to appreciate.

It's a perfect area logistically, right in between Fort Lauderdale Airport and just a little North of Miami to keep costs down.

@Nadia Speaks There was a great tip on podcast... 80-95 somewhere in there. That an investor mentioned she puts her companies mission statement on the back, and also what the company buys. For example SF, MF, Land Etc.

Back of the business card is usually space that is just wasted. Use it to inform your contacts.

@Deborah Pyburn It's a little broken up and was piecemeal at first, but I'd say 1,000 mailers to a list I created, in total sending 2 letters to 500 properties- first letter introduction, second letter follow up. From now on each campaign will be 500 letters to one group followed by 500 letters to a separate group. Hope that helps.

@Cara Lonsdale Sure thing. 1,000 mailers total in a few months with a 2% percent response rate, and of those 2% we are working and building rapport with three different strong leads. Two retiring landlords with multiple properties, and the third an older seller who is moving to Florida. On top of that, my mailers hit 3 other investors in the area that have asked me to keep them in mind for deals I pass on which has opened up possibilities to wholesale any deals leftover. I’d be looking to buy and hold one and flip another with two separate groups of investors.

@Chris Youssi @Tom Gimer thank you for the responses. 

Tom, that makes sense as to why they are still listed in Maryland Judiciary and Judgement Lien Search. His last leans were paid off in 2005-2006. I’ll certainly look into land records as well.

Appreciate the tips.

@Account Closed I've just started as well, and I'd recommend books, podcasts, etc as inexpensive knowledge. Shortly after get a Direct Mail Campaign going, I'm starting to see strong results just a few months in and I haven't even spent $1,000. Most of my expenses came from forming an LLC, not doing DIY mailings.

@Ian Viray Check your Condo/ Coop Fees, they could decrease cash flow. Also, review CC&R's, Bylaws. Here is something you could ask for:

A resale package is a packet of vital information provided to those purchasing a condominium or a home in an association. The package includes a complete set of recorded documents that govern your association. The Resale Package will vary from state to state. Typically, the documents included are: Annual Financials, Articles of Incorporation, Budget, Bylaws, CC&Rs, Insurance Declaration Page, Regular Meeting Minutes, Resale Certificate/Demand, Reserve Report, Rules and Regulations.