All Forum Posts by: Scott Eisenmann

I recently sent out thousands of postcards to absentee owners and hired a very expensive, REI-focused answering service to answer the calls for me so the callers can speak to a live person instead of having to leave a voicemail message.

To my surprise, this answering service is only answering about half of the calls and letting the rest go to voicemail. Yesterday they only answered 3 of the 7 calls that came in.

Worse yet...

• They have been rude to a customer 
• They answered a call with "Hello" instead of answering in a more professional manner and with my company name
• At least one call-taker sounded like she just woke up when she answered the phone
• One caller said she had to call six times before someone actually answered the phone.
• Another caller just wanted to leave his name and number so I could call him back, but the call-taker got upset that the seller wouldn't answer all of her questions, so she angrily told him that she would just take him off of our list!

All of this and more was recorded on my CallRail account, so there is no way that they can dispute any of this if this becomes a legal matter.

My concern is that I have spent thousands of dollars to find these motivated sellers and this answering service is not consistently treating them professionally and with respect. I am also concerned that their poor performance is negatively reflecting on my business and damaging the reputation that I am trying to build in the community. 

If I could do it all over again, I would save the couple of thousand dollars that I am spending with this company and just let the calls go to my own voicemail for free when I can't answer.

What has your experience been with answering services? Have you found one that actually answers the calls reliably and professionally? Or are you or an employee just answering the calls yourself?

Here is the message I received after cancelling the service,

"When you cancel your plan you can no longer track your deals. Any repeating mail will no longer be sent. You cannot use any DealMachine credits until you reactive your account."

I just signed up for the DealMachine app and entered my own home address. Here's what it's Enhanced Search told me about my property...

1. The "Owner Information" listed my name and age correctly, but it listed a job that I had 20 years ago as my current employer.

2. The "Mailing Address" field gave me 8 addresses. One was the home address that I initially entered, two were duplicates of an employer's address from about 20 years ago, one was an old Mailbox Etc address that I had about 20 years ago, one was an out-of-state address from about 35 years ago, and there was a duplicate of that address with an incorrect zip code and street name suffix, and the last one was an apartment that I lived in when I was in college a long time ago. So there was one current address, and the rest were duplicate, incorrect, or old addresses.

3. The "Sale Information" gave the correct date that I purchased my home, but not the price that I paid, and no previous sales information.

4. The "School District" information was just the name of the county school district, which every house in my county belongs to. There was no specific schools listed.

5. The "Property Information" listed the correct year built, number of bedrooms and bathrooms, and square footage. The acreage was listed as "0.00", even though my home is on about a 3/4 acre lot.

6. The "Owner's Phone Number" field only listed one number, and it was very old. I forgot that I even had that number. My current phone number that I have had for almost 20 years was not listed.

7. The "Owner's Email Address" included six emails. Only one was correct, and I used to use that one as a throw away. The other five emails were not mine, and appeared to be variations of my name, like scott_eisenmann@yahoo (which is not mine). One was almost correct, but it was a Yahoo address instead of Hotmail. My main email address that I have used for over 20 years was not listed.

8. There was NO mortgage information, even though I have a mortgage.

Conclusion: The only useful information was my name, square footage, number of bedrooms and bathrooms, and the date of purchase, but all of this information is easily available on Zillow or the online tax records. 

Since it costs at least $49/month plus a charge for mailings and enhanced searches, I will probably uninstall this app and cancel my 30 day trial.

By the way, if you want to try it, they usually offer a 14-day free trial, but if you use promo code "CLOSER" (without the quotes), you will get a 30-day free trial (as of the date that I am writing this message). This is not my promo code. I found it in the description of a YouTube video, and to my surprise it worked.

@Tom Smart

That's interesting. I would love to hear how you make the numbers work on new properties.

Since I'm currently focusing on seller financing, lease options, and subject-to type deals, my initial concern about buying new would be that I'd have to pay a premium price (unless they are very motivated), put down 20%, and pay lender fees. 

On the bright side, I like the idea of not having to rehab and having low maintenance and repair expenses right from the start.

@Tom Smart

Congratulations! Sounds like a good plan.

How do you invest in properties when you can't physically inspect them or the neighborhoods? Did you hire someone to help you buy? Are you using a property management company?

Hey @Jermell Shavers,

No offense taken. I thought your comments and assumptions were funny. Thanks for the laugh.

You asked me a couple of questions and made a statement or two, so I wanted to answer you respectfully, or at least try. I'm blunt as well, but there is a fine line between being blunt and being rude, so I'll try to not cross it. Please forgive me if I do.

You said, "I think your time is limited and now your income is limited..." 

Well, I can't argue with that, but this may come as a shock to you, so prepare yourself, but...your time and income is limited too.

Maybe you're around my son's age, because he thinks that anyone over 50 should be dead or dying. Heck no, 40 or 50 is when life begins. Until then, we're just young, dumb, and usually broke. Been there, done that.

As far as income is concerned, many older people don't need or want a W2, because some of us have nice pensions, annuities, and other income-producing investments that keep us from having to work for someone else. These are some of the benefits of working our rear ends off for decades and saving, contributing to 401Ks and Roth IRAs, and investing wisely in total stock market index funds for years.

You asked, "...can you qualify for more than one mortgage? And do you have the 20% to do so?"

Yes, I can afford the 20% down payment if I finance, or pay cash and avoid the financing all together, but I would rather finance as much as possible to maximize my ROI and to stretch those dollars as far as they'll go. Seller financing is even better, but conventional financing may be my only option if sellers can't or won't be flexible, and in this market, why would they be? Either way, it's usually smarter to finance instead paying cash, or refinancing after you pay cash; it's just wise money management. It's great to have options.

I look forward to learning more from you soon. All the best.

Oh, one more thing. You said something about a duck...

Quack :)

I have heard that some investors are doing long-distance wholesaling/rehabbing/renting completely by phone, even in other states, and they never visit the properties. That sounds risky, but if it can be done, I'm interested. They must have to hire someone located near the property to do the inspections and meet with sellers, buyers, contractors, pm's, and agents.

@Jay M. - Thanks!

@Peter Schuyler - Yes, I've thought about getting a license to get access to the MLS and to avoid any potential legal issues with wholesaling. I know of a wholesaler in Kansas who was investigated by the RE commission for acting as an agent/broker without a license, and I wouldn't want to go through what he's gone through.

Yes, the prices are high and the houses are selling quickly, even 30 or 40 miles outside of Atlanta. You're right, I need to look in other areas.

@Jermell Shavers

Thanks for the advice Jermell. I'll keep that in mind. Let me know when you're scheduled to give your next motivational speech. I'll be sure to attend. LOL