All Forum Posts by: Michael Beeman

@Charles Carillo  I have thought about doing some of that. I think I will be having my 14 y/o daughter or 15 y/o son doing some of that this summer for extra cash..  I am very familiar with the assessor and GIS websites from my previous job as a Client Relations Manager for a Sawmill, so that is a great tip you gave me, that I can put to good use. Thank You sir!

@Jamie Burns  Hope our tips can help you.  This morning I am in the office signing the letters in "blue ink" to make them look more personal to each owner. We will be sending out our first letters today. I'm excited to see the results.

@Scott Morongell  We have done that. In fact that's how we got our 62 unit, and we are currently looking at a pocket listing this broker has on a 20 unit.  But, we are also trying to develop a deal flow of our own outside of brokers.

@Jason A. . 

1. I know that in some cases, we have dealt with this issue as well, and we had to "clean up" the list that was purchased. I also know that we probably sent some letters that will never reach the owner.

2. Yes, that is an issue. Being owned in the form of a company instead of an individual is difficult, and all we can do is follow the same procedure outlined above and just mail a letter. 

3. a completely new issue we ran into on some counties, was that there was no difference between Commercial listings, and Apartment or multi-family listings. So to purchase the list would mean that I would be mailing to every person who owns any type of Commercial building. That was unsuitable for our needs, and we moved onto a different county.

@Jamie Burns   I am not currently targeting student housing. Altho we do tend to get some students into our Terre Haute In 8 unit property, What I'm actually targeting is the lower middle class, high cash-flowing Real Estate market. We have done amazingly well on 2br units in the Vigo Co. In market, and we are excited to add a large amount of them to the portfolio. 

@Brett Kash  one of my business partners used to be a lobbyist and then a campaign consultant for many local and state legislature elections.. 2 things he recommends to get a higher "open rate" ..   On the outside of your letter, make certain that you do two things.. Do not use a generic flag type of stamp, and either do it yourself, or hire someone to hand write the addresses on the envelopes..  The third thing we are doing to try and enhance the "call back" rate is that I am personally signing the inside of each letter.

@Nick Gaines   haha..  Fair enough..  Well I'm now working with investors that need something in the 40-50 unit range, and we need something in the 20 unit range for our own company.. But we are mailing Vigo Co Indiana  (Terre Haute).. But personally I'm going up to Springfield today to take a look at a 20 unit, and to visit our Springfield site..  But I'm pretty sure we will stay out of Champaign County in 2019  lol  

@Allyssa McCleery  We have our mail merge going out this week. I'll post back what kind of responses i get..

@Ehsan Rishat  Hey thank you for the tip.  We're looking for larger apartment buildings, but that's great advice.  The 1-4 unit isn't our forte anymore. If you ever do a 5+ unit building and are able to turn something around without spending a ton of money, and create 6 figures in equity by spending less than 30k and just good management...  It's really hard to go back to the 1-4 unit stuff... And that's coming from a guy that has at least 8 1-4 unit buildings.. lol... Wanna buy some?  lol

@Brett Kash Good question.  I would be interested in knowing this, and any other relevant information anyone has on this topic.

@Jack Medford  Thank You.  I fully expect to continue doing the "hustling" strategy as well. But, I'm considering a strategy where I add in things like listing services and mailings as well!!  Thank You for the tip!!