All Forum Posts by: Anthony Greco

Hi BP Rehabbers!

I have been looking through and trying to find the best vendors etc to find the best deals for my flips and just seeing an enormous amount of options not only local but remote. Any tips on sorting through all the "noise" to get the best deal to increase the bottom line/stay in budget while maintaining high quality product? For example: I am currently looking for a company to use for all my cabinets, and there are a million websites and it seems like there is no shortage of local brick and mortar stores ready to sell. Any tips are appreciated!

Hi fellow BP’ers,

Been reading and hearing a lot about this whole decarbonization stuff potentially going to be required by all landlords including residential (not exclusive to commercial) where landlords will be required to decarbonize their properties by making them energy efficient.

Has there been any additional guidelines or info released on what these requirements that they are planning on having everyone meet? I read through a lot of the document “Pathways to Net-Zero Greenhouse Gas Emissions by 2050” released by the White House dot gov site. There were no guidelines that I recognized specifically in that document.

This seems like an interesting play and I am curious what others think about all this potential upcoming requirements.

@Barry Pekin

Thanks for the reply, it sounds like you typically go the option 2 route and get to the underlying issue shortly after the start of the call instead of right off the bat. I agree with your heavy consideration of honesty. Since I started in this business in 2018 I have always looked at honesty as a tool I can leverage with great success, and it’s one I use all the time for every single interaction. It is also what allows me to get a deal for thousands less than what the other guy is offering.

@Joe Gonzalez

It seems like going head on to the issue at the start has been your primary approach and has been successful for you. Have you tested any other approaches as well and found immediately addressing the pre foreclosure to be the best? You are spot on about tonality. That combined with tactical empathy are extremely powerful skills to have. Thanks for your post.

Hi BP!

I am curious and would love to know from anyone who does heavy marketing to owners in default on how they approach these prospects. I have always been going about it the same way for a while and curious if anyone has tested different approaches and noticed better conversion rates from one approach to another.

To be more specific on a cold call for example:

Option 1: you immediately bring up that you have noticed the property is in a foreclosure status at the start of the call and/or make it known you are aware of their situation

Option 2: you start off as a buyer looking to buy homes in their area/making cash offers and let them uncover their own pain points through purposeful questions to lead them to uncovering their motivation/situation.

I have always done option 2 and it works well but I sometimes wonder if I could have a better conversion rate with a different approach. It may be time for me to try option 1 and see what the metrics say. 

What do you do and what has worked best for you?

@Phillip Dwyer thanks! I think like always I may just be overthinking most of it then. I appreciate your perspective it is helpful as always!

Thanks for the replies!!!

@Phillip Dwyer I actually comp out the properties with MLS myself.

I don’t have experience personally with rentals though and for example if you were to get a property with a value add proposition, how would one go about finding what their potential rent rate could be if most of the other product in the area is done subpar at best.

Rentals especially if section 8 is involved seems a little daunting with all the little rules about everything they have. How is one to really keep up on all of those rules and regulations when it seems like an encyclopedia of information. For me it almost makes properties that can’t support full time property management company not make sense. I know well enough that keeping up on something like that is not my strong suit personally and I would need to hire someone to manage that portion of the business.

Also a little off topic but if anyone knows a good resource about syndication that does more than just talk about how good it is and why and the basics and actually explains more about the details of setting one up, the format, regulations you have to comply with etc I would be super grateful for being pointed in the right direction.

@Stan Johnson awesome thanks for pointing me to a good resource appreciate it!!! Checking it out now!

Hi BP!

So I feel like I never find much info on this or not really what I’m looking for when I do come across info. Maybe someone with more experience can help.

When you become a landlord really what is your number one resource for rental agreements, ensuring you are meeting all regulations in your local state/city/muni, if section 8 is involved learning and ensuring your meeting all those requirements as well.

Also when getting into a property how are you truly ensuring you have really solid numbers on rent rates at current as-is vs if you were to fix the place up. Is this something similar along the lines as how you would come for a rehab but with rental history? What does that look like?

I know I have a lot loaded into so thanks in advance for anyone willing to tackle it!

Hi BP,

I am a wholesaler looking to network with builders in the Chicagoland area where part of their business model/plan is acquiring new project sites to do tear downs and new builds for their prospective clients. If that sounds like you, please reach out to me and lets meet!

Hi BP!

I am looking to connect with high volume rehabbers in the Chicagoland area! Would love to not only connect but also learn a little bit more about the local markets here. Trying to continue learning some of the differences of the midwestern market vs what I am used to out west in Las Vegas. The buildings are different and there are also basements for example! Would love to hear how these things come into play and what they can do to your costs when you evaluate properties! Thanks!