All Forum Posts by: Matt Faix

@Abel Curiel I added everyone here as well  (UN: mattfaix if you want to follow back). I definitely understand why people use snapchat, however I struggle with how to use it and what to share at times. Any suggestions on what to be posting? Especially if you have a wide audience ranging from close family and friends to RE professionals, buyers, tenants, etc. 

@Tim Vecchioni being that the DCR is 1.07, chances are you're going to have a hard time getting a loan. Most commercial lenders will require 1.15-1.35. Raise the rent up to the market rate (hopefully that's more than $25) and try and reduce any of your expenses.

@Tim Vecchioni are you able to share your current numbers on the property, and future numbers based on the refinancing? Need additional info for the analysis on it. Thanks!

@Chris L. is this an otherwise good tenant? If so, I would leave them in place. No need to kick them out in order to sell, their lease would just transfer to the new owner.

@Alexander Thomas welcome to the site. Where in Pittsburgh are you looking to invest? 

@Ryan Bergeron We use a lot of the same tools that Trevor mentioned. But in addition, I think a big part of technology that is underutilized in Real Estate is the use of Social Media for marketing and branding. I think when people traditionally think about social media, they are thinking about a facebook group for real estate investors to post conversations or connect. While this works and is beneficial, it barely scratches the surface. We use Google Ad Words and Facebook Ads that allow us to target specific groups. 

A scenario might be that another investor spends money putting up bandit signs all over town, and a seller will probably see a variety of these signs from different investors, but may not call right away. Once they get home, or grab their phone, they google "We buy houses", "Sell my house fast", "Foreclosure" and if you are one of the few that are advertising online and they see your ad, then they call YOU, not the other guy. 

@Eric Armstrong check out The Little Blue Book That Beats the Market by Joel Greenblatt 

This is more on the financial side of things rather than real estate, but a still a worthwhile book and very easy to follow. If anything it helps to generate an interest in investments that will lead to more reading. 

@Mark Gee Talk to a broker. They will have relationships with other investors looking to buy, and you can sell everything as a portfolio. Also, you can only promise the tenants what is in the terms of the lease. A new owner may decide not to renew, raise rents, not allow pets, etc

Lane Kawaoka That makes sense, it doesn't necessarily have to be gimmicky like a fake notice. I'm just trying to think what would be well received by a more sophisticated investor, and more importantly what would get a response.

Does any one have any tips or examples of what you would include on a letter to owners of small-mid sized apartment buildings, or how you would modify your mailers for bigger properties with more experienced owners (5-20 unit properties). 

I'm inclined to think that postcards / yellow letters may get brushed aside, so something that looks like a bill or an official notice may do the trick, possibly with a more formal message inside? Rather than the "HEY WE WANT TO BUY YOUR HOUSE, CALL US ASAP" message. Curious to hear everyone's thoughts and experiences with this. Thanks!