All Forum Posts by: Sean Brady

Hey all, I've heard different things about this being legal or not so I wanted to know if anyone knows anything. 

I figured if I can do a cash advance on my Credit Card, and roll that into a 0% APR promo card why not just use those proceeds to fund the purchase in court for the 10% down payment. Then I got 30 days to close/ find my end buyer or I lose it all. So whats to stop me with taking that cash to the bank and Bid away at auction?

I've heard using credit cards for down payment assistance is illegal. Is that illegal for court bids?

Hi Everyone. I was wondering what Investors/ Landlords thoughts on Multifamily's cost structure. I am a Realtor on Long Island who has a bad tenancy to spend more time looking at investments than marketing. So recently I created a Financial Analysis template that would automate my decision making process, generate marketable Pro Forma Financial Statements (Still somewhat of a work in progress). My template came out nice but, its really primarily for me to use for wholesaling Single Family Residence. My various costs expenses on the template are a percentage of the rent. I ran those numbers also based on what my research told me it was for my local market. Anyway here is what I got. (In advance I know some of the variable expenses are fixed and the fixed are variable.)

Fixed expenses:

My question is this. First if anyone disagrees with what my percentage allocation is please let me know. Second, when looking at a Multi Unit Family investment what costs scale with the properties? Are there any rules/ Principles I can use to put into another automated template that would help me analyze the investment? The idea of creating Multi-Unit Apartment buildings/ Multi Family Buildings is to lower fixed and variable cost through an economy of scale. While not every cost is going to have this feature are there any that do? 

I know I need to spend more time Marketing as a Realtor but, I also need to be looking for deals for my investors. I feel like my Single Family Residence Analysis template has actually been pretty good in determining fair value. Obviously everything in the formula is garbage in, Garbage out but some ideas here would be appreciated.

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Hi, everyone. I did a lot of cold calling last year for about three and a half months before i got burnt out. I am now going to try adding the typical wholesaler leads to my lead lists. My question is does anyone have a cold call conversion rate by owner category? As in FSBO, Expired listing, Absentee owner with high equity, Cash buyer, tax delinquent, pre foreclosure, and other conversion rates. Ideally there must be some chart online somewhere that tracked this data....... IM looking for Lead to contact to appointment to listing/ Under contract (For whole sale deal) to close.

Maybe my math might be wrong on this because I am tired right now but does this seem crazy or off to you? If I get 10,000 leads a month from REI Pro, and it takes 4 minutes to skip trace a lead (A VA in the Philippines would ideally be doing this task for $3.5 an hr) I can make 34 calls an hour.

Now out of those 34 calls only 2% will pick up. I will be cold calling 3.5 hours for a total of 119 calls a day. That means I would have 2.38 contacts a day. Multiply that by five days a week and im at 12 contacts a week. Assuming a moderate conversion rate from the table below that would mean it would take me 6 weeks just to get one appointment and 24 weeks to get a property under contract/ listed and sold. Just one.....

https://therealestatetrainer.com/…/prospecting-conversion-…/

So my question is this cant be the case because people make money being an agent or a wholesaler all the time. If I am making 595 Calls a week shouldn't my income be higher than a measelly 5-10,000 dollars?

Does anyone have any research to point to different conversion numbers? The 2% i got was a response rate from direct mail. But when I was doing this last year I remember it was extremely difficult to get expired listings to sign up. ANy help would be appreciated. I wont have an income soon so now a VA is pretty much out of the question. Any ideas on how I can be more efficient here. And assuming I did have about $280 an for 20hrs a week for a VA what should I have them doing?

Cold calling doesn't seem very efficient but direct mail doesn't seem to be an option for me right now.

Other ideas are use social media for leads, craigslist, etc. They are cost free but not neccesarily seller oriented to find deals....

Hi, everyone. I did a lot of cold calling last year and I am now going to try adding the typical wholesaler leads to my lead lists. My question is does anyone have a cold call conversion rate by owner category? As in FSBO, Expired listing, Absentee owner with high equity, Cash buyer, tax delinquent, pre foreclosure, and other conversion rates. Ideally there must be some chart online somewhere that tracked this data....... IM looking for Lead to contact to appointment to listing/ Under contract (For whole sale deal) to close.

Maybe my math might be wrong on this because I am tired right now but does this seem crazy or off to you? If I get 10,000 leads a month from REI Pro, and it takes 4 minutes to skip trace a lead (A VA in the Philippines would ideally be doing this task for $3.5 an hr) I can make 34 calls an hour.

Now out of those 34 calls only 2% will pick up. I will be cold calling 3.5 hours for a total of 119 calls a day. That means I would have 2.38 contacts a day. Multiply that by five days a week and im at 12 contacts a week. Assuming a moderate conversion rate from the table below that would mean it would take me 6 weeks just to get one appointment and 24 weeks to get a property under contract/ listed and sold. Just one.....

https://therealestatetrainer.com/2015/03/08/prospecting-conversion-rates-for-real-estate-agents/

So my question is this cant be the case because people make money being an agent or a wholesaler all the time. If I am making 595 Calls a week shouldn't my income be higher than a measelly 5-10,000 dollars?

Does anyone have any research to point to different conversion numbers? The 2% i got was a response rate from direct mail. But when I was doing this last year I remember it was extremely difficult to get expired listings to sign up. ANy help would be appreciated. I wont have an income soon so now a VA is pretty much out of the question. Any ideas on how I can be more efficient here. And assuming I did have about $280 an for 20hrs a week for a VA what should I have them doing?

Cold calling doesn't seem very efficient but direct mail doesn't seem to be an option for me right now.