All Forum Posts by: Lamont Marable

Hello Family!  I'm seeking a title company in Ohio or Cincinnati that deals with assignments.  I'm wholesaling a deal in Madisonville and I need to start the title search, etc.  Please advise if you have one available.

Thanks.

I'm looking at a duplex in Indiana that @joshmatthews from Indy Urban sent over.

Quick Math:

PP - 185k

RR - 1.9 - 2.3k

taxes - 3.6k roughly

Here is my question, I can close this deal myself @ 48-50k DP but to use OPM for the downpayment at 6-8% return for 3-6 months, is it worth it?  Is it worth paying someone 8% to borrow money for a short period of time when I have the money already in the bank?  For a deal like this, how would you construst it to use OPM with a couple investors?

I was only going to do it to build trust and a track record for capital raising since this would be my first time.  

What are your thoughts?

I know there are 8 states that doesn’t pay income taxes.  Let’s tax Florida for example,  as an out of state investor, how does that benefit me?

I'm starting to look into Indiana due to the landlord-friendly laws and low taxes.  Who knows a good Realtor in the state?

I saw a 9 unit that's about 450k with 10% ROI as-is. This is a great deal unless the realtor is fabricating the numbers. Another highlight, the taxes are under 2k a year.

I think this is a no-brainer but I'm not familiar with the area.  The area is super duper gentrified with SF homes selling at 200-600k.  I'm not sure what I'm missing that's why I need a qualified agent in Indianapolis to help fill in the gaps.  

@Javaughn Harkness thank you Ja for reaching out. If you extend your hand I'll gladly take it. If you know any boots on the ground or tradesmen that would be a good start. Even better, if you can locate a JV deal that would be perfect.

Quote from @Olivia Grabka:

@Lamont Marable

1. The list determines your success. Who are you targeting? How often are you mailing them?

2. What is the envelope going to look like? Are the prospects likely to open it?

3. I would update the headline... I am interested in buying your property... Make it less about investing & more about buying.

Hope this helps.

 This Ms. O!!  Appreciate the feedback!!   I already sent it off to the press to be produced but I used a couple things you mentioned.  

Quote from @Wale Lawal:

@Lamont Marable

You can be more specific if you have information of the properties owned by your target audience.

Also provide some value to them to attract them.

All the best!

I didn’t want it to be too lengthy so I trimmed some fat.  I wanted to get right to the point as quickly as possible.  The other campaign had more substance but with a low response rate. I used ChatGPT to write the letter.  It came out beautifully but as a home owner I guess people weren’t impressed. 

The only value I know is money. 

Whatever information is being offered on Propstream is what I'm running with.  I'm putting that $99 a month to work.   OpenLettetrMarketing has a 20% off coupon..."2XResponse" if it doesn't work just call them and they will apply it to your order.

I'm tired of the deals on the MLS so I gotta go get my own.

I appreciate the feedback champ!!  I was thinking the same thing so I changed it while waiting for a reply.  Try this out: "My partner and I have over $250k as a deposit on our next multifamily property. If you have anything you’re selling from your portfolio, please let me know.

Save this letter and let me know.

Thanks!"

Thoughts?

I'm starting a mailing campaign targeting apartment owners in Ohio, primarily in Cincinnati, Columbus, and Akron.  Here is what I decided to write in my letter.  Can you dig into it and critique it for me?

"My partner and I have saved up $250k to

purchase our first multifamily. If you have

anything you’re selling from your portfolio,

please contact me, as I would be happy to offer

you a price.

Thanks!"