All Forum Posts by: Lucas Machado

Hello BiggerPockets,

I'm looking to connect with an investor friendly real estate agent in the Jacksonville/Duval County area.

Seeking to buy concrete block (CBS) single-family (ideally 3 bedrooms), or multi-family properties, that need rehab. I wouldn't mind turnkey (but rehabs probably fit me better). 

Price ranges for the single-family $0 to $60,000 - up to $125,000 for multi-family.

We have proof of funds, can do 7-day inspection (closing shortly after), non-assignable, escrow deposit as needed.

From the investment perspective, our goal would be to "mostly" cash out after a 70% re-finance and have some cash flow in the deal $100 per month would be ideal for the SFH).

Let me know if you have any recommendations!

Hello BiggerPockets Community,

I am considering signing up with Adwords Nerds (https://adwordsnerds.com/) for assistant in managing paid online marketing (pay per click, Facebook, Google/Bing/Yahoo).

I have already run Adwords/Bings PPC for several years and effectively run it (generally, my cost per lead ranges from $80 to $170 per mo) and my ROI is 4.5 to 5 to 1. I have an extensive negative keyword database, good handle on modifiers. My budget on online marketing is $3.5k per month - but that is flexible.

I've been feeling like, we've done okay, signing up with Adwords Nerds or comparable service would help take my accounts to the next level (i.e. the $2,000 per mo cost is essentially one deal per year - so if I can learn enough for an extra deal every other month it is a wise decision). 

My keywords are very plain - pretty much "+sell +house" with varied bid structures depending on addition terms. I haven't really explored others.

For those who have used the service: does a person with a reasonably good handle on the service stand to gain a lot by working with professionals who are doing this every day? Or on the other hand, is this service more suited for people who have no idea what they are doing. 

Other suggestions, comments, thoughts as to Adwords Nerds team?

Thank you so much.

Hello BP Community,

I'm looking for a recommendation for as to service that will allow me to look up comps with high level of detail and updated accuracy for across the US.

In my Florida market, I use "IMAPP" which lets me put together my own comp methods, so I can make searches via subdivision, lot sizes, living areas, year built, time frames, sales history, property type, draw custom maps. It's also essentially updated every 24-48 hours. It also directly integrates to property appraiser - so I can look at owner info on the spot.

Is there a service that let's me do this, pretty much anywhere in the US?

I get pretty detailed when analyzing comps, so I def need it to be nuanced in terms of linking to appraiser where I can find zoning, searching by subdivision or as to distance from subject property. Needs to have access to ALL kinds of property, vacant lands, condos, apartments. Basically, if it has a parcel ID and a county record, I need to be able to run comps (for example, if someone wants to sell me a tear down house, most likely, i want to pull vacant land comps within .5 miles and be able to link to the appraiser to see if zoning is the same).

Any thoughts as to a service to meet these needs?

Thanks.

Hello BP Community,

Currently, I am generating approximately 10 to 20 out-of-market motivated real estate seller leads per week (truly motivated - as they directly reach out me via website). Mixture of houses, condos, vacant lands, apartment buildings. Like any leads, some are better than others. Based on my usual experience, a reasonably good investor would be able to close a deal every 10 to 25 off-market leads.

I am only set to function in Florida - whether that be fix-and-flips, wholesales, rentals, or listings.

Currently, I am literally just ignoring this leads. I don't bother calling them back if they contact me online and just tell them sorry I can't work in other areas if they call on the phone. I don't have the band with to do another 2 deals per month out-of-market when I already am working 10-deals in various stages of inspection, closing, rehabbing, or managing the re-sale.

What should I do to capitalize on these leads? I'm open to any and all creative ideas . . . here is what I'm considering:

(1) Selling Exclusive Off-Market Leads. When I've looked at this topic in the past (when approached about buying), leads were selling for about $150.00. I'd probably be open to sell off-market leads for only $75.00 as I literally do no monetization currently. No funny business - I'd guarantee a full refund for any leads that were on MLS or websites within the last 12-months. As far as it being "exclusive", I'd have no intention of it not being exclusive (though not exactly sure how I could "guarantee" as it's always possible they reached out to a few investors, might just have to be on my good faith).

(2) Remote Wholesaling. Another approach that seems logical would be doing a remote wholesale. It'd be easy enough for me to look up comps, estimate repairs, and get the contract signed. What would I do at that point? Is there anyone that's set up to already do remote wholesales type deals? I'd gladly go 50/50 if I bring the deal you bring the system. Again, no idea how that would work, open to speak with someone and get anyone thoughts here.

(3) Remote Flips & Rentals. I don't think I'd be willing to do out-of-state (I'm in Florida, so my state is already huge) - but is there any type of business, investor, or whatever, that works on a large scale buying rentals and/or flips that I could either joint-venture with in some fashion (perhaps I'd get 25% for providing the deal, and you'd get 75% for bringing funding/management). The other thing to is, I just don't think I'd be able to generate the financing.

I think the other complexity here is that I don't get so many off-market national leads at this time that it'd be worth it to start my own lead selling or remote wholesale or fix-and-flip. So I think an idea strategy would ultimately be some kind of partnership where a person already sort of us does these things an I can pass along my leads/deals through some agreed upon mechanism.

I also get that - it may be different solutions for houses/condos, vacant lands, and apartments.

Open to all thoughts, ideas, suggestions!

@Collin Corrington I'm pretty big in the probate space. Probably one of the best marketing dollars you can spend. Although, I don't get too hung up on postcard, typed letter, yellow letter.

I built a letter folding team that hand-writes the envelopes and signs the letters for $1.00 a pop - I had it quoted at a few services at over $1.75 to get actual hand-written envelopes. To me, you want them to open it. Anything computerized gets trashed. I tested non-hand written envelope probate mailers and response rates dropped from 1.5 to 2% down to .5%. Probates are some of my best leads, so I'm okay splurging the extra .50 (verses postcard costs) for these leads.

@Joseph Harwell You didn't mention back taxes or violations. Back taxes is a strong niche because it's a sign of financial distress (the need for a fast closing), but also unpaid taxes ultimately result in losing the property altogether at auction. Few things about back taxes though - you do need to wait a bit - it'd be a mistake to mail 1 year of back taxes. Lot's of people are lazy about paying taxes. Once it's about 2 years or a couple tax certifications, now I'd consider mailing the lead.

Next, I think a big thing if you're working on a budget is less about your list and more about tightening your list. For example, if I were trying to keep a list really tight, I'd do back taxes + out of state owner or probate + out of state owner. You could mix the factors different ways, but point is, more than one point of motivation is going to give you more bang for buck if you can't afford thousands of mail pieces.

Direct-mail is also super saturated at this point - I'm not saying you can't get a deal - but I wouldn't go "all in" on direct-mail. The only REALLY strong source of DMM for me at this point is probate/estates that are also absentee. I probably make 5 to 1 on that niche (about $1,000 per mo on mailing and about $50k in profit per the deals).

@Kay Dyer Welcome to the exciting world of off-market lead generation!

For starters, the tried and true direct-mail lead is probate and estates. Yes - it's competitive. However, I would say nearly 50% of the deals I've ever worked were somehow connected to probate scenario.

The beauty of probate is that the houses often have other problems - and you know most of the sellers are motivated sellers - they didn't choose the house. Now are they motivated at your offer? That's a different question - but certainly they are in the market to sell more often than not.

I actually don't think FSBO is a good list. It might be worth a phone call (as usually its available for free on the listing) - but in my experience FSBO prices are drastically over priced and the seller's have an abnormal understanding of what their house will sell for.

Next, I'd hit up back taxes. There's a real problem there. However - I would look more narrowly a 2 years of back taxes. Anyone can fall behind 1 year (might just be they haven't gotten around to it). Once a couple tax certs are issued - it's a better sign.

For combining factors, it's a bit tricky. I think "out-of-state" + back taxes, probate, violations is a good way to do that. But one thing to keep in mind is that DMM is about volume. Sending 100 letters isn't really going to get you anywhere without some stroke of luck . . . 

If you're in it for the long game, you are better off with a website than direct-mail. You can leverage your time to work on SEO - but in DMM - you're capped by your financials. 

Hello,

I received an online lead from the owner of 2604 Los Padillas Rd SW indicating that she needs to sell her home because: (1) she is in foreclosure; (2) she is relocating to Florida within 30-days.

I told her I did not buy in New Mexico. She asked if I knew anyone who did - I said I would reach out to the local real estate community to help her out.

PM me for seller's name, e-mail address, telephone number.

I am not wholesaling, have no financial interest - just trying to connect her with local buyers.

Thank you.

@Chris Seveney I'm not mass sending e-mails. I would either cold call, work them a custom Facebook audience, or if my direct-mail yields no responses perhaps send an email down the road. I could do without the e-mails - that's my smallest goal.