All Forum Posts by: Michael Campbell

Thanks for the great advice @Peter Vekselman

@Parker Lee

Might want to try Loopnet.com 

@Scott DeLange

I'm not specifically familiar with Lawncrest, but you should approach it like you would any other area.  Look at the demographics, crime rates, typical rents, and home values.  If the numbers make sense for you then go for it.  I have no doubt that there are investors doing profitable deals in Lawncrest, just make sure you do your research before jumping in.

As other have said, this wouldn't be a deal breaker for me.  Just be sure to factor in additional maintenance or make sure the numbers still work if you have to replace the piping.

@Justin R McCullers

Check out Brandon Turner's Ultimate Guide to Direct Mail:  

https://www.biggerpockets.com/renewsblog/2014/04/0...

That should answer most of your questions.  Different markets react differently to various types of mailings (for example letters vs postcards) so I'd recommend trying a few different types of mailing and keep track of your response rate.  Currently I just use Excel spreadsheets to track my leads but I know a lot of people use Podio.

Great advice Josh.  I'll definitely be following up with a formal offer in the mail.

 This potential seller actually bought a few houses on the same block over the years to hold as rentals.  I think his plan was to fix them up and rent them out but he hasn't done any work to this house yet except demo.  I think he is considering selling so he can make some quick money instead of holding for long term.  This is in an area of Philadelphia where home prices and development have been increasing significantly recently.

 Hi Deann,

I just used a simple letter that states that I am interested in buying their property at <insert address> and to call me or email me.  Don't get too hung up on the details of the letter... the important thing is to send something out to see what works.

Hi BP,

I sent out my first batch of direct mail letters last week. I got a call back today from someone who wants me to make an offer. He bought the house last year for under 10k. It's 3 Bed, 1.5 bath 2-story row home at the 1900 block of E Firth Street and according to the owner it is in shell condition, but he has replaced the windows and doors. I'm having trouble coming up with an ARV on this house... prices in the area seem to be all over the place so that makes me nervous. It looks like there is a decent amount of new construction going on but I don't see any great comps to go by. I'd love to hear your thoughts on this area and what might be a reasonable ARV to use for this property. It is on the same street as a school and is situated directly across from the school so I think that might decrease the value compared to houses on some other blocks nearby.

Just sent out a batch of direct mail letters last week and got my first call back from a potential seller!  Not sure if we'll be able to make a deal but it was good to get the experience talking to a seller... very excited to see what happens from here.