All Forum Posts by: Michael Beeman

Hey thank you Grant!! 

@Jack Medford  Hey thank you Very Much!!   I appreciate that!!   I will go check out Listsource.  But what has been your experience with doing mailings? Are they effective, what strategy have you used.

Ok,

 So I'm wanting to contact a bunch of Multi-Family owners about purchasing their property. I know some people have done or mentioned getting "lists" of owners in certain towns or areas etc and doing mailings or cold calls. And I've heard some even filtering it out to owners who have owned the property for more than "X" amount of years.... So.. Where do I get these lists?  I greatly appreciate the help!   @John Hagen  and I have some investors looking to purchase some property, and we are looking to 1031 some of our own property into some larger multi-family. 

@Bryan K Hoover  I'm sorry, a buyer has this property under contract already. I may have another property available if you would be interested. Feel free to shoot me an email at [email protected]

Selling for personal financial reasons.

Property Management is in place. Units are full.

8-units  1 duplex, and a 6-unit building  $270,000

Turn Key, Great Cash-flowing property.

7 units have been remodeled. We wanted to remodel the 8th unit, but were unable to because a renter wanted it, and now it is rented. All 8 units are full, total rents are 4150/month. And the last 12 month's NOI is 35,131.

Even using the 50% rule if expenses increased, it is still an 11 cap.

C-class location. in a beautiful blue collar town.

Located in Robinson IL,  multiple factories including Hershey's, and a Marathon Oil refinery are the major employers

Only asking $270,000. Great Cash-flowing property.  You can message me directly on here, or text or  call me at 812-266-0818.

22% Cash on Cash returns.

@Kyle Jones  That's funny!! But everything in government is the same way.. I like to celebrate everytime i hear they're in a budget argument and they're going to shut it down.. I always sound like Ron Swanson at that point.. lol  Good luck with your future permits, and don't be afraid to kiss a little butt once in a while, that's all they want, the feeling of superiority.. haha

@Kyle Jones  Yes, that is a pain. I'm pretty much a hater of government within one year of starting my Real Estate Company!!  lol  Well.. I've kind of always hated government, but this experience reinforces my beliefs..

@Kyle Jones  Thank You, It's gotten a little crazy around here. Our team closed on 8 units on Friday morning, and we close on 5 units on this coming Friday. We have 7 more units under contract after that. Which would bring our total number of units to 64.. Our goal of 100 by January 1st seems very reachable. And I just informed my "day job" that I was retiring after next March when I get my 2nd tax return from our rental businesses. (It's much easier to get future loans when your business has 2 years of tax returns)

@Alicia H. Thank You!

@David Mincey  Thank You!!  We love the new house.  

@Jamane Y.  I hope i did ok on the show, and I inspired some to step out and take the leap. 

@Nancy E.  Thank You!  Yes BP has helped a lot on specific small issues, it's kind of like you come here, search the forums and find 3 different ways people handled the same problem, and most of them are good advice.  Rod's and Joe's shows provided a ton of motivation to make me say "dang-it I'm doing this now. No more waiting" plus the guests always seem to provide some tidbit on finding deals, finding money etc.  .  Now I'm neck deep in it and loving it.   I am really considering starting some kind of small business providing some of the training on finding and funding good deals by compiling the many ways that i found deals, and what led to them. Plus providing training on just how to approach a bank, how to be organized with a business plan in hand etc. I get those questions constantly, and I don't have enough time to specifically sit down and answer them. But if i could do some video seminars on these things, mixed with some emails, I bet I could walk some people thru a step by step guide on how to do those things.. Because a book doesn't seem to be enough. lol A lot of the things I learned we started trying to get more and more funding (beyond what the bank knew we could pay back with our W2 salaries, were things that my commercial banker told me to do.. lol