All Forum Posts by: Mike Alder

Thanks @Mark Brogan!

If you try it hit me up and share your results! 

Great to hear @Dwain Beckford! I eventually want to expand into the Florida's booming market. it'll give me an excuse to escape Cleveland's freezing winters!

Thanks @Dwain Beckford!

Hows business in beautiful Jupiter Florida?

Excellent @Aaron Wyssmann! Keep me in the loop and please share your results!

Thanks @Aaron Wyssmann

I'm just doing the standard 3 line classified ad in the real estate wanted section:

I Buy Houses

Any Condition Any Situation

My Number

Real simple ad and so far has been effective

Morning BP Fam,

About a month ago I was on the phone with a friend (who is 25 years older then me) to schedule a meeting for that day. He said he wanted to run to the store to grab a coffee and the paper before we met. In my head I was thinking "who the hell reads the paper still??" 

That's when it hit me, people reading the local paper these days would most likely be over the age of 50, be financially stable and not interested in dealing with distressed properties anymore... MOTIVATED SELLERS!

I placed ads in my local paper which I haven't done in years and the results have been great! First the cost for 2 weeks in my local paper is $70.00 and it brings 4 leads per week. 10 years ago I paid $70.00 per day.

I've made several offers but I typically do not lock in my deals till the 3rd follow up around 45 to 60 days from the initial offer. I'll update my results on this but just wanted to share that if you are not using classifieds give it a shot. It's proven to me that its a very low cost strategy to generate new leads!

I'd love to hear what's effective marketing for you! Please share your strategies in this post

Thanks

Morning BP Fam,

Just figured I share yesterdays adventure in rent collection. I own a lot of property in D class areas. The upside to this is the get in price on properties is extremely low, you are paid in cash and the returns are very high! The downside list can go on and on!

The first weekend of every month my team and I hit it hard shaking every one down! Over the years I've learned that if you do not collect by Saturday night all the money gets spent on lifestyle (typically drugs)

I had a descent morning collecting over $5k in cash paid in very small bills (one person gave me $650.00 in $10.00 bills) that I stuff under the floor mats of my car in case someone gets "froggy" with me. The ones that do not pay in full have no problem paying a late fee the following week but the real fun is in hearing the excuses of why they don't have the money!

One tenant was short $25.00 not a big deal but she had a big bag of weed on the table. I asked her if she has money for weed she should have her rent money. She replied by offering me a bag in exchange for the $25.00 difference. As generous as that was of her I don't smoke so I declined!

Another tenant was $50.00 short but was at the Cleveland air show (priorities) that can exceed $100.00 per person once you figure food, beer and parking.

It honestly doesn't bother me too much as everyone has to pay a late fee if I'm not paid in full on time. I just figured I'd share with the community to see who can relate.

Hey @Doug W. I love your roach story! I know that feeling (thinking you have something crawling on you) after being in properties like that!  I'm shooting detailed progress videos and will be sure to share once completed. Thanks

Thanks @Juan Vargas I'm going to war with them! I'll update with the results

Morning BP,

I'm currently working on my nastiest flip ever! This is a cockroach infested house located in Cleveland Ohio. I purchased this home for $8,000 and plan to get it bringing in $650.00 per month in rental income.  My goal is to only spend an addition $4k to do it! Let me know what you think and more importantly let me know if you have flipped a house grosser then this!

Video walk through of **** roach flip