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All Forum Posts by: Mohit Madaan

Mohit Madaan has started 15 posts and replied 155 times.

Post: Direct mailers not receiving expected returns

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Joseph Gozlan:

@Mohit Madaan had a good point about the phone number and message. An easy and free way to do that is to sign up to Google Voice. you get to pick a number, record a message and forward all calls to your phone if you want to be able to answer the number in real time!

 I am BIG on this one because the way your phone/message sound can make the lead want to work or not work with you.

if you want to take this a step further and make your business look like a multi national company for like $30 a month, i would recommend www.GrassHopper.com

Totally, worth the investment if you are serious about your business.

Post: Direct mailers not receiving expected returns

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Rick H.:

I agree with @Mohit Madaan (except that it's a mail 'piece'). 

Unbelievable, i am usually the one correcting my friends on their grammar. Must have been my late night debate between sleep & jumping on forums. lol

Post: Direct mailers not receiving expected returns

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

Sorry to hear you aren't having the success you expected, in my humble opinion successful marketing campaign isn't just a good list and good mail peace, its a little bit of everything. Here are some important bullet points.

  • Pretty awesome list, know exactly what you are target and who you are targeting.
  • Very professional looking letter. Imagine some one looking at all the junk mail, what makes your peace STAND OUT? Ask yourself this before sending it out. (hint, hand written letters will always stand out).
  • Friendly, yet professional phone message - Alot of people who are doing these campaigns aren't full time in real estate and their voice mail goes as generic, 'hey this is Robert, leave a msg, i will call back'. Why not set up a new number for just your mail peace and have a very specific message recorded and call back every missed call on this new number until you speak with some one?
  • Price of list & letter - This is important because most of people have limited budget and i have seen investors paying as much as 50 cents a record on list and as low as less than a penny. What is the right price? Who knows, but they key is to not get excited and over spend on these two items. You can send more peaces for same amount, if you negotiate these two items better.

If it still doesn't work, trouble shoot your campaign. Send a different type of letter to same list, and you will get an idea if its a little or the mail peace.

At the end, there are only 2 things you are doing to have some one call you, good list & good mail peace, there isn't much that can go wrong. Obviously, your professional phone is extremely important when you do get anyone to call you.

Good luck and i hope this helps :)

I personally, don't think cash on cash return is even a real number to focus on when buying long term properties to hold.

Just personal opinion

Hello @Mai Vo

Welcome to BiggerPockets!

I do not have any experience in turnkey properties of the markets you mentioned, but you will find very good information on this website. Also, you will easily get an opportunity to network locals in those market.

Also, what is your plan with your stockton property? How is it doing numbers wise? I am looking at properties in Stockton, and would love to hear your experience in the market

Thanks

Mohit

newbie question - Doesn't that make it a super awesome market for flipping?

Post: HomeSearch.com house research, need help comments

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

@Lisa Kohl Thank you so much, going to read the blog post right now.

Post: What can $5,000 do?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

@Angel RosadoThe fact that you have a family, should motivate you even more to save up and try to buy FHA loan for a duplex. You will have a feeling of self pride when you drive to your home everyday, knowing you are on the way to own this place and provide stable shelter for your family.

Post: What can $5,000 do?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Angel Rosado:

@Mohit Madaanundefined I agree with you completely

I have a family but I think we may be contributing too much to the 401k? returns are nice I put 8% employer employers puts 6%. Should I stop this and save some of that as well?

 I do not live in US of A, so i won't comment on 401k but i am good listener and follower of alot of financial educators and it doesn't sounds like 401k is the best place to put your money in. I am trying to find a book named 401 Kiosk that was recently mentioned on Rich Dad radio podcast. I am sure reading that book, will give you a very good insight of 401k.

Even from a layman's stand point, i think real estate investing beats 401k or any other investment anyday. I am sure, there are people who will support 401k here and i will agree with what i read, i am not big into debates, usually when i am not sure about my points but, i do like to control my own money. That is why, i do not own a single stock, mutual fund at all.

Post: What can $5,000 do?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

@Angel Rosado If you spend 5k in any sort of marketing, such as direct mail or buying list, you are taking a big risk with only money you have, if you can't find a deal, or you find a deal but can't wholesale it or any other reasons.

How about working extra jobs, working overtimes to put together another 5k-10k and get a 3.5% down for duplex? You will own it, you will collect rent and easy pay mortgage. You will get experience of doing a deal.

Save the rent by living in Duplex and start putting that together for next rental property (you will only need 20k). Real estate isn't easy to get into, but once you do, its a lot of fun.