All Forum Posts by: Michael Grant

@Ivan Nevarez Hello, you know I would have to agree with @Sharad M. It is hard to give advice when you dont know what experiences have already been picked up, learned or tried.  You have to put some work in first start to take action reading getting on the podcast and hitting up youtube some great information between the free downloaded book on Bp and podcast.  You say you just got interested well see how interested you still are after you put in the sweat equity time and start learning about the different nichies.  Thats the first step to building any foundation is education.  Good job reaching out good luck on your resarch, people will take you more seriously when you throw a pic up and get to reading thats how you generate good questions that will recieve a response

Keep digging dont give up and good luck

Mike

@Rick Harmon . It's a scripting problem. 

I'm not going to do your homework for you, or provide for free on a public forum, no less, however you are pretty close. 

Take my comments seriously and not as critism.....

Lol however, no help at all what is the point of posting anything on a free forum if you're not going to provide any help.  

@Davey Wilde starting off saying hey I think I got a scripting problem.  Hey Davey I would think your problem lies in the due diligence. From what I see most people dont know what their house is worth like they dont know what their car is worth or the price of tea in China so someone still has to call to find out how much this stuff is.  This does make since though

"you re-engineer your sales conversion process, you'll probably discover that your VA's questioning has failed to introduce trust and comfort (aka rappoire) into the conversation.

Hmmm.... Iffe

I suggest designing a system that allows for making proposals that do not require the seller to provide a figure. Just don't make their stating a number a criteria for making an offer."

So take it as the VA gets the vital stuff out the way and pretty much should be motivating you to go back to a seller and propose your own numbers to a seller for the simple reason it lets you kno that your number is solid and gives you legs to stand on because you can do what your VA can not. Which yes is due diligence go look at the property work on good comps build rappoire and importantly recall and negotiate especially since most of the time you are not going to have your VA do this questioning for you. What if they offer to much what if there is more dam then is disclosed its just a lot of room for error and the VA in most instances isnt going to put the property under contract you are... So here you go the creative way is to get on the phone and get to negotiating. Good luck to you and good job reaching out so you can keep crushing it.

Thanks,

Mike

@Carl Hall I can tell you what I do with a 320 dollar budget a month.  An what it does for me.  I think 500 dollars is a good number to market with every month, but ultimately I came to the conclusion that we live in a time where you can tell people exactly what you want or expect so that way your dont waste either parties time. 

So yellow letter marketing which i do myself a little time consumming but I do roughly 80 bucks a week this allows me to mail out 120 letters.

Since I usually only send out letters to 2-3 zip codes in my area depending on how many names I get off of freedom soft Im still going back and forth to the records office to get probate list so I can be doing something while I wait to see if I get any hits.  

You can use the same zip codes pull up google map plot like 3 houses in each zip code and follow them up with bandit signs still while you wait.  If you do most of the work I can see you stretching your 500 if you out source its going to eat it up. 

Fyi I use a different number for each marketing list.. I.e Probate num absentee/vacant num, bandit sign num) so far what I see is bandit signs give me more calls less motivated sellers or leads, direct mailing is direct but if your letter dont read right still not a lot of leads.  Probate is good they usually will call you back but takes a lot of follow up because family has stuff going on.

Really quick spread of what i do right now if you have any questions of me feel free to hit me up consistency is key try not to idle good luck.

Mike

@Courtney Merricks whats up man.  I would like to say good job on sending out your first list.  Taking action ensures the phone will ring.  IMO since i am sending out my second mailing here in a few days.  I think it depends on a few things and it really is trial and error. Who are you targeting, how does your yellow letter read, you have to spend money to make money it doesnt matter how many letters you send if they are not calling dont sit and wait send out yellow letters to another list.  Until you send out 1k yellow letters you always have something to do.  I say once you get out 1k then you can sit back and complain for about a week maybe 2 before you need to get back on it.  If they havent called by then they either arent motivated or you havent quite convinced them yet.

I got a list of 160 names (absentee owners/vacant properties over 20yrs old) sent them got 4 call backs (no motivated seller=no sale) and they go to my google voice with a friendly message asking them to leave a name and num so if i cannot help them i dont waste time sending to them again and i can take them off my list. In my yellow letter i have a email address that they can hit to be removed from my mailing list. (This should save you money and start to shorten that list)

I send out 1 yellow letter and the rest post cards.  Ex. Jan.1 YL, Feb.1 PC, Apr.1 PC.  I set up click2mail with the list and postcard saved so if i am working on a new list it just takes a few clicks to send to old list with postcards.

I didnt do bandit signs because with technology imo it is a waste for me and you get a lot of calls but a lot of false leads as well.  Plus i caught a guy taking my sign down (another wholesaler) waste of money.

While i wait for my yellow letters to reach their respected audience I have been focusing on probate letters and learning lease-too options.  Sorry for lengthy response if you have any questions of me feel free to hit me up.  Hope this sheds some light on your question dont give up dont get discourage and prioritize mailing isnt cheap but it can pay off.  

Thanks, 

Mike

@Isaiah Foster Hello, and welcome to the BP community.  I am an upcoming Wholesaler myself and let me start by saying it is far from easy...

Set small goals make checklist start implementing what you have learned.  Get some generic business cards and key is answer your phone.  People that are going to help may only leave a message 1 time or dont leave one at all until you get started answer the phone.  You have to be aware that you have to spend money to make money.  I just did my second direct mail listing.  I choose to get everything in place first was lucky enough to find someone off BP that gave me my first 160 names for free and this got the ball rolling for me. (freedomsoft)  

What I needed to get started:  was printer, Stamps $9.80 a book= 20 stamps, you can get yellow paper and envolopes to start out from dollar tree or a place where stuff isnt too expensive.  You can also get envelopes from post office for 62 cents with a stamp already on it.  Googlevoice or freedom voice account and Click2mail.  I mailed to the 160 names and got 3 call backs still no sale yet.  This was a week ago.   So im doing another mailing this week using freedomsoft 30day free trial of 120 names because of my current money situation and will be putting a list out every week if money permits.  In my yellow letter I also have a website that they can unsubscribe from my mailing list which is great because it can save me a few dollars if they really dont want mail from me.  Plus I have my click to mail set to hit them 1 more time in the beginning of the year just in case. My target audience at this time is Absentee owners probate and vacant homes in my immediate area.  I use two differnt yellow letters one for probate and 1 for absentee/vacant.  I hope this helps it does cost me time sweat descent friends and roughly 80 bucks a mailing and most of that is because stamps arent cheap.

Sorry for the long post,  but if you have any questions for me or dont understand hit me up.

Good Luck,

Mike

@Mimi R. You're right that was a heck of a welcome...  I would like to congradulate you on finding a great place to network and meet new people.  If you need any help from me feel free to hit me up.  Good luck to you

Hey Guys and Gals,  I am an Upcoming investor in the @Atl, Ga area and I am ready.  I am looking to launch my direct mail campaign as of this time.  I have gotten roughly 500 yellow letters together, I have my website under construction, and I am trying to use Agentpro 247 for my list source (pay as you go).  

The problem that I am having is finding my target area.  I am writing this post in order to weed out the areas that might not be beneficial for me lead wise at this time.  I know that it is all a risk, but I am trying to make the best decision possible on this risk.  If there are any other wholesalers in my immediate area or RA's that are allowing someone to utilize or pay a fee for there MLS Access that may be lucrative as well.  I am also willing to split or allow a piggy back on my first deal to get this ball rolling for me.  Any feedback, response on these matters would greatly help.

Thanks in advance,

Mike

@Andrew Challenger Hey good job on finding a closeable deal.  I would inform you that you can actually do a Google search for Florida deed/real estate contract and should get a bunch of pdf to choose from.  When I was inquiring about mine that is what I did before I just found one in biggerpockets/files and downloaded some yellow letters and contract documents for free.  Got to love BP!

Happy fishing for RE and I wish you plenty more success!

Thanks,

Mike

I think I am on to a great deal, but its my first deal and I am really nervous.  My question is if I can get this property under contract  it is a commercial building with an apartment in the upper level... Am I able to use the same contracts forms that I am using for my residential purchases or do I have to do something different with commercial properties.  I do not think that I will be able to wait for long as I feel it will go fast.  It does need work and I am in the process right now to comp the  store buildings on the block so I can ask for a fair price any feedback or information is greatly appreciated if I get the deal or not.

Thanks,

Mike 

@John Hixen thanks for the advice,  I thought the samething a wholesaler buying from a wholesaler pointless.  I just adviced a plan of action where I think Im going to meet the guy I intially talked to from NW and just listen.  I plan on being something bigger than a guppie in this Real Estate world and could eventually flip a house or 2 and can use them for leads if the numbers look right.  I thank you for your feedback and been active on Bigger Pockets and trying to catch up on podcast

Thanks again 

Mike