All Forum Posts by: Scott Stevenson

Hey everyone!

I just had a quick question for anyone that is doing wholesaling at the moment. 
I am looking to get into wholesaling as soon as I move (moving to a different state). 

I am trying to get everything in order before I move so that I can hit the ground running. 

I was just curious about upfront costs. I want to do this the right way and I want to make sure that I have enough saved up to start a good direct mail campaign and be consistent with it. 

Just starting out, how much should I expect to spend on direct mail per month? 
I assume that the more I spend (if targeted properly), the better.. but I was just kind of looking for a roundabout number from those experienced in the field. 

How much were you spending per month on your mail campaigns when you just started to get in the business? 

Aaron, 

Sorry for the confusion.

I was not referring to your overall mortgage liability.
Just your yearly compared to that of your yearly rent roll. 

You may have seen it around, but a lot of members at BP use a "50% rule." 
Meaning that 50% of your rent goes straight to expense and the remaining 50% is used to pay the debt service and provide you with cash flow. This is a supposed safe estimate. 

Do your numbers fit that rule? 

$180000 X .5 = $90000 for mortgages and cash flow. 

And if you wanted to net $200 from each of your 23 doors each month for the year, it would total $55200.. meaning that you would have $34800 (90000 - 55200) left over to pay the yearly debt service for your properties. 

I will guess to say that your yearly debt service is a little higher than that. 
But, still, even $100 per door is considered a good investment. 

Just try your own math with that rule and see. 

You could also apply this to each individual property and see which to save and which to offload, if you desired. 

Aaron, 

I do not think anyone has asked this yet but.. 
How much cash flow should you be making per door off of what you are projecting? 

Were you buying property just to buy property? Or were you analyzing them correctly and giving yourself enough wiggle room between the mortgage and the rent to account for these things that are happening? 

You mentioned that your current rent roll at full capacity is 180000. 
What is the sum off all your mortgages together on those properties? 

I think that would give people a better understanding of the problem or at least eliminate another variable as to why you are not cash flowing like you thought you should. 

Regardless, you have seem to done well for yourself given the situations that happened. I'm sure it can only go up from here. 

@Kevin George Sounds great, Kevin! I am going to be responding to your messages now. Thanks!

@Chaim F. Thank you very much! 

@Sydney Hall Thank you! Awesome! There's no better site to make connections on.. you have definitely came to the right place. 

@Jack Butala thank you very much! It really is a great site. 

Best of luck to you as well. 

Hello! 

My name is Scott Stevenson Jr and I am currently seeking a duplex, tri, or quad near the Royal Oak area of Michigan.

Other areas would include but are not limited to: 
Ferndale
Madison Heights
Troy
Clawson
Sterling Heights
Birmingham

I would be more than willing to work with an investor who is looking to off-load a property that may not fit their portfolio / strategy anymore. 

My girlfriend and I are looking to owner occupy the property. 

Hello everyone! 

I wanted to reintroduce myself to the BiggerPockets community.
I made a few posts back in 2014-2015 but have not been very active until now. 

Over the last couple of years, I quit my job, moved to a different state (only to move back haha) in pursuit of a business venture that failed.. 

I lived on a friends couch for a few months working on growing an online training business that I can gladly say completely supports me now. I grew my client base from 0 active clients to ~90 within the last 5 months.. from California, to New York, to Florida, and even had a few international clients in the UK and Dubai. 

So, if ANY of the members of BP ever have any questions regarding health / dieting / exercise / training / nutrition, please feel free to reach out. I would be more than happy to steer you in the right direction.

Since moving back to the area where I grew up, I started dating a girl who also sees the benefits of investing in real estate. In fact, we listened to BP Podcasts throughout our 10 hour road trip the other week haha

We are actively seeking a duplex/tri/quad in the Royal Oak, Ferndale, Troy, Clawson, Madison Heights area of Michigan. 

This morning I purchased my PRO account and I am very happy to be back here and interact with everyone!

Hey! 

My name is Scott Stevenson Jr and I am currently looking for a duplex / triplex / quad in the Royal Oak area of Michigan. 

Other areas would include but are not limited to: Ferndale, Clawson, Troy, Madison Heights, Birmingham, Southfield, and Sterling Heights. But, nothing south of 8 mile. 

My girlfriend and myself are looking to purchase a property around September / October, if possible. 

I would also be more than willing to work with an investor who is looking to off-load a property that may not fit their portfolio anymore. 

Feel free to send me a private message any time. 

Thank you!