All Forum Posts by: Steve Franco

Hello,

I was just wondering if anyone has their CCIM.  I'd love to get into the commercial side of things and then recently heard the discussion on CCIM.  I looked into it and it's definitely expensive and time consuming, which is fine.  

My question is for those who have it.  Do you feel it was worth it?  Has your business substantially increased or changed due to having it? 

Lemme know!

Steve 

Hey all,

So I've done my first two waves of wholesaling letters recently, and I think a lot of things need revision, so I need your help.

Out of 1,200 letters I have received maybe 10 phone calls, which is absolutely HORRIBLE.  I think the issues with it are a few.

1.  I think my letter is possibly too long.  Maybe I'm over explaining what I'm doing which is coming across as desperate.

2.  I don't have a local number.

3.  I don't have a business name.

So I'm thinking of making it more short and to the point, as well as using a local number, and POSSIBLY starting it as an official business, so it's not like i'm some random guy asking to buy their house.

What works for you guys?  I'd love to see what messages you all send out that have worked for you, as well as get your thoughts on the whole thing.

Thanks!

Very good to know Chris! Yeah the low acquisition cost is obviously the big initial attraction. For the current moment im looking for straight cash flow (cash on cash percentages considered but not weighted as heavily for me right now). I’ve just started as a broker and about to leave my full time job to do sales as a broker and investments on my own, so any regular cash flow i can have coming in right now will be helpful. Im considering seeing if I cant get into a few a bit cheaper from someone who is selling 2-3 of them if i buy them all at once. Still new to all of this so I appreciate all advice!

Also I have the capital to buy it outright so there would be no mortgage to worry about

Makes sense. But if im buyin up spots where we own, will i be paying more in HOA’s? From what I can tell our dues are based on size of unit/number of bedrooms. Also is separate insurance needed for an area that is already insured as common area?

Hey All,

I'm in Chicago and my girlfriend owns a condo in Bucktown.  Recently saw someone selling a deeded parking spot because they dont use it. I had a thought to start buying parking spaces at condo buildings.  In our previous building people would sell them all the time.

Generally around here the spots go from around $15k-25k, and you mostly can't find a spot to rent for under $200-250 a month, $150 if you got REALLY LUCKY. That's a great ROI especially if you can get into it on the low end, and no maintenance, etc. Anyone have any experience in this?

Just doing both.  I'd like to build some good capital for my eventual buy and holds and wholesaling interests me.

Hey All! 

After a lot of good advice on the forums, and a few subsequent in person discussions, I've just launched my first wholesaling campaign (500 letters, Chicago market). I know this is all a numbers game so I want to put out 500-1000 more letters immediately.  Although I'm in Chicago, I'd eventually like to get into the Denver (we have family there). So I thought why not work with Denver off the bat and launch a campaign there as well. I know there's a TON of Denver people on here, so I wanted to get your feedback.

1:  Is the Denver market too saturated, or is there still a lot of opportunity there?

2:  I DON'T know the area well at all, what are some area's all you Denver experts love, and what areas do you avoid?

Not looking to pull it out because I think I can do better or scared of collapse, leaving my position for a new field.  There is not enough money where it makes sense to leave in there until I'm of retirement age, so it seemed overall more beneficial to take it out.

not a 401/403/457, I believe it IS defined benefit as I work for city government as a firefighter.  Definitely doing a lot of research before I cash it out/if I cash it out