All Forum Posts by: Matthew Berry

Hey folks!

My name is Matt. I live in the Big Lake area, about 15 miles north of Elk River. My wife and I own one rental right now that has phenomenal cash flow (about $900 after expenses) and we have a goal of purchase three more properties in the next 12 months.

I know there are several reoccurring events in the Twin Cities to network with one another. Those are great, but that's not what I'm looking for right now.

I am starting an online group to meet weekly, probably in the evenings, for an hour.

What I'm looking for are 3-4 other people who are serious about investing and have a goal they want to reach in the next twelves months. Who wants to join me?

I'm not charging for this. This is free. But I do want to find people who are intentional and driven.

If that's you, let me know!

(I'll upload a video shortly)

 This is a great insight. Perhaps I need to pre-empt my questions with these callers with something like, "I may be interested in purchasing your property, but I need to better understand the condition of the property before I could make you an offer on the property. Is that okay?"

Of course, I could be missing something in language.

I've noticed a pattern where there's almost an unwillingness to answer my questions, and I'm not running through a five page script. I can't even get an assessment on the condition of their home on the outside or inside.

FYI - I re-posted this in the more common marketing forum

Link: khttp://www.biggerpockets.com/forums/87/topics/221813-direct-mail-and-minnesota-market-update

Friends,

I'm looking for some insight regarding marketing in this extremely strong seller's market that we're experiencing right now in the Twin Cities.

I've been doing direct mail for quite some time. My observations have been that leads have been less profitable than what I've heard of in the past. There are a good number of people calling, but demanding more than what I can offer in order to make a profit. Sellers know that they can throw a sign in their yard and make a premium in this market. The MLS also has few deals right now.

So this is my question, do you pause marketing and wait until the market shifts?

Fortunately, I have a well-paying job so I can afford to put investing on hold. However, I'd prefer not to be throwing a big chunk of chain on direct mail.

Thoughts?

Also, I mentioned this at the BP meetup last week, but here's a link to the "Monthly Skinny: July" posted by the MinneapolisRealtors group on YouTube.

https://www.youtube.com/watch?v=_cCyw7J4LOM

FYI, I re-posted this in the more general forum.

Link: http://www.biggerpockets.com/forums/87/topics/221811-asian-sellers-in-the-twin-cities-need-cultural-insight

Disclaimer: Before I'm labeled as being racist, I want to recognize that every culture has it's idiosyncrasies. I just need some help understanding Asian culture, especially as it pertains to the Asian groups in Minneapolis/St. Paul, Twin Cities.

Ok, now that is out of the way...

One thing I've observed through my marketing efforts is that nearly every Asian caller I work with is unwilling to allow me to ask some clarifying questions about their property.

They call me back and say, "How much you pay my house?" When I try to ask about the condition of the exterior or interior, I'm met with frustration and impatience.

I have made sure to tweak my marketing so it's not like most mailings you see: "I want to buy your house at 1234 Main Street." My phrasing is more like, "I'm looking to buy a house and yours may meet my criteria."

Does anyone have insight with how to deal with this type of attitude?

Perhaps they're just not motivated, but I want to make sure I'm not missing something culturally.

Welcome @Munira Hassan. I suggest listening to all the podcast you can. Also, sign up for the Bigger Pockets newsletter and get involved in the forums.

Good luck!

Disclaimer: Before I'm labeled as being racist, I want to recognize that every culture has it's idiosyncrasies. I just need some help understanding Asian culture, especially as it pertains to the Asian groups in Minneapolis/St. Paul, Twin Cities.

Ok, now that is out of the way...

One thing I've observed through my marketing efforts is that nearly every Asian caller I work with is unwilling to allow me to ask some clarifying questions about their property.

They call me back and say, "How much you pay my house?" When I try to ask about the condition of the exterior or interior, I'm met with frustration and impatience.

I have made sure to tweak my marketing so it's not like most mailings you see: "I want to buy your house at 1234 Main Street." My phrasing is more like, "I'm looking to buy a house and yours may meet my criteria."

Does anyone have insight with how to deal with this type of attitude? 

Perhaps they're just not motivated, but I want to make sure I'm not missing something culturally.