All Forum Posts by: Andre Key

Rebecca,

Great job.  Do you guys know the average time that homes stay on the market in that area. for less than 12K in total rehab cost that seems like a great deal.  I'm curious to how you guys find your deals.

Mark,

If you really want this deal and don't want to lose it have your broker put in an offer and add that you would be willing to pay x amount of dollars over the highest bid.  I don't know how hot your market is but in really hot markets where properties fly off the market that may help you beat out all other offers.  Just make X whatever your comfortable with and make sure you can get the funds to back it.  

I would look at American Home Shield Warranty, They cover Hvac units for a small deductible.  I put it on all my single family homes and my tenants pay the deductible.  So if my AC unit goes out its covered. no large expense out of my pocket.  You can spend the premium money for a rental unit but will you get a return on that investment if you can get an older unit covered with a home warranty that may cost 600 a year, or 60 a month than I would wrap that into my rent rolls and let the insurance company pay for it.  The warranty also covers appliances, electrical, plumbing etc....

BP,

I have a question say there is a town that is a big factory town that employees like 80% of the population in that city.  The town is also neighbors to a major college town.  Lets say that this factory closed down and now many are without a job.

There is an area like that I am looking into, to me that is prime for buy and hold. I happen to live in a town where property values are raising extremely high, here the right deals are flipping for high returns.  I try to keep it simple but every deal, no matter the environment has to be reviewed for the best strategy.

Real estate is a contact sport, so the more people you get your business in front of the better.  Cold calling can be even more effective if you do like your old employer and hire other cold callers.  Imagine 5 employees making 60 - 100 contacts (voice to voice) a day working part-time. At a 1-2% conversion rate and all you do is go to close the appointments.

Johnny

I believe the hard part is developing an effective system and evolving it to make it better. Once you have a system that works it takes consistency and persistence. Consistency and persistence are not easy for all but is what I know to be some of the key factors to success.

Giving yourself the option to close deals in a multitude of ways is very smart, but it wont be nearly as effective if you don't get many leads coming your way.

Lately,

I have been increasing my buyers list and I have some deals on the table that aren't for ever investor but can still be pretty lucrative.  

Does anyone out there know of a Template that can allow me to present in a simple way, The cost of the property, the cost of rehab, and the comps of the property once rehabbed. I also would like to include the average days on the market with that. 

I have all the data and all of the estimates, however I just would like a pretty yet user friendly way to present it without spending 1000.00's for a program and spending hours for trying to develop it myself. 

Andre Key

Eric,

The game is based on how many people you can touch, with that being said your friend can pay for a software called redX that will allow you to get the phone numbers of most fsbos and expireds. You call these people with your services. You might also want to volunteer to hold Open Houses for other busy Realtors. Market those with flyers and open house signs as well as electronically and keep the leads that come to visit. Hope those techniques are a good start.

That is a great suggestion, as an investor I don't see a deal in it either but to help my wife sell, the demographic you mention is a perfect match.

Marketing to UT families is where we will start, however if you know any parents that fit that criteria we would love to talk to them.

Ok,
My wife has a listing thats in a popular Austin, Tx area. Its a one bedroom condo and she is listing it for 70k one just sold for 92k but the recent comps are at 85K it needs paint and carpet and is vacant. Rents are going for 850 for the 1/1 units but HOA's 200 Is there a deal here or no Im interested in hearing some feedback from the experts.

Also as investors what kind of words are most enticing to you I get "handyman specials", investor special" and motivated all the time. Is there anything that folks have heard that is creative.

Austinites I would really love to hear from you. The property is in area 2 right off of Anderson Lane.