All Forum Posts by: Michael Quarles

Imagine if it cost 1000 to send out 50 letters but half of them responded and half of those wanted an offer and half of those accepted an offer and half of those closed and half of those resold for a net 50k. 

After sending millions I can state.  Don’t send them to find motivated sellers.  They’re too expensive and frankly create delusion. 

Mail does work however it must get read and more importantly it must have interaction.  

Send handwritten letters.  

And not the ones created with 100% automation.   

A few years ago I stopped coaching, I sold my print marketing company (Yellow Letters) to care for my wife. She went through a couple brain surgeries and major post issues. She’s better now and I’m friggin BORED.

Anyone want coaching? I’ve only bought a thousand houses Mostly sub2 and seller financed

Quote from @Tripp Isenhour:

I am looking to find some good mentorship groups and or mentors who would like to coach someone new to real estate investing and eager to learn from their experience and guidance. Any suggestions would be appreciated.

Hello Tripp.   

I’m bored and looking to help someone.

Quote from @John Ma:

70% ARV is a killer deal in our market. Generally most fix flippers are buying at 80%-82% in our market. Margins are often squeezed. Many people are only making $50k or so on $800k-$1M properties.

These %percentages are market dependant. 

 How many deals have you actually done?

How do you actually know the purchase price others are paying and their margin?   

Are there margins gross or post net? 

Out of COI deals requires marketing dollars.  

The two simple methods are 

1- Direct Mail

2- MLS

From there 

3- warm call all of the homes for rent. Trulia.com
4- call all of the FSBOers. multiple sites 

I then would reach out to the top closing companies and start phone networking. Title managers are a great resource for market players. 

Everytime you talk to an agent ask who their home inspector is.  That person has addresses.  Network.  

The 70% rule is reserved for talking points by the guy on stage talking to an audience who they’re trying to sell a coaching program to   It’s a get excited number not a do a deal number   

The equation is: maximum of 65% of AS IS value.  Stay with properties at or below median value within 1/2 mile maximum of the subject property.  

Then determine your burn rate, days between call to cash, take down ability and average profit per opportunity. 

Those numbers tell you a ton. 

Good luck. 

Hi Tanner.  Good to chat.  

There are several great resources for data. Much more than a forum answer post can hold. 

As for competition.  

There’s no such thing.  Exchange that work for BENCHMARK. 

A benchmark is where you’ve been or where you’re going.  

You can not lose anything and no one can take from you.  

Hi Scott and great job with BP.

I don’t have strong opinions.  Just right ones.

BTW I  still want to guest host a podcast.  

A few years ago I stopped coaching, I sold my print marketing company (Yellow Letters)  to care for my wife. She went through a couple brain surgeries and major post issues.  She’s better now and I’m friggin BORED. 

Anyone want free coaching?   I’ve only bought a thousand houses   Mostly sub2 and seller financed   

Reach out