All Forum Posts by: Michael Elfant

Hi All,

My partner and I have had luck in getting leads with a simple post card that says the following:

Hi ________,

My name is Mike and I'm looking to buy your property at property address.

Call me at 201-410-xxxx AS-IS, ALL CASH.  

The issue is converting those leads into actual transactions.  Most of the sellers want top dollar if not more than what they would get in the open market.  I'm wondering if they are getting the wrong impression given that we are specifically targeting their property without appearing as distressed buyers?  It's almost as if they think that their property is special and that i'm targeting it because I NEED it.  

Furthermore, they will hardly ever give us their price and just want to know what we'd be willing to pay for it.  Almost 100% of the time they say our number is way too low...  

Are we doing something wrong or is it simply a numbers game and we should keep going?

Thank you in advance,

Mike

@Wayne Brooks Thanks for the info. 

Hi All,

Would appreciate some input on this issue.  

If one was to GC a new construction or a flip project (in NJ) would you need to take out a general contractor insurance policy or does the builders risk insurance policy on each property as well as hiring fully insured sub-contractors suffice?  

I don't intend on hiring any full-time employees and therefore am wondering if I can get away with not having contractors insurance by doing it the way described above.

Thank you in advance,

Mike

Hi,

I'm interested in hearing what the current housing environment looks like in Cincy.  What are average rents?  What type of returns are people seeing?  Where are the emerging areas?  Do you think it's a good MSA to invest in and why?  Do you know of any top notch property management companies located there that you can connect me with? 

Thank you in advance!

Michael

@Jennifer Petrillo by ground floor do you mean ground up?

Thank you @Jennifer Petrillo

Will do @Andrew Postell.  Thx

Hi, can anyone recommend a reasonable hard money lender that lends in Hudson/Bergen Counties - NJ?     

Hi All,

My partner @Edward Verdel and I are about to send out our first mailing campaign and we are wondering if anyone has a proven script for when a potential seller calls to inquire about selling?

I’ve heard multiple theories such as; get as much detail on the sellers situation and property as possible vs just having a casual conversation with the inquirer, as it is obvious that they want to sell but you don’t want to bombard them with a list of questions as they may get turned off.

Thank you in advance,

Mike

@Edward Verdel