All Forum Posts by: Rae Hoffman

Loved this thread. Coming from a two-decade long career as a marketer - whether you want to call it "your why" or a Unique Selling Proposition or a Point of Difference - it is the key to all marketing for every company. Additionally, that POD needs to be genuine (in the way @Priscilla Z. described).

@Cameron Tope perfect - that's exactly what I was looking to get a baseline for. Thank you!!

I have a question regarding bandit signs. How often is everyone replenishing them? If you do a round of say 100 or 200 signs, how long do you wait before placing the next round? I'm trying to put together a marketing schedule and just wondering how often they need to be redone, based on y'alls experience. 

And as for what @Cameron Tope said, I will be doing multiple marketing methods, but I also have the budget to do it and don't plan to stop after 100 signs. I'm just curious on how often they need to be replenished. :)

@Nathan Gesner see my reply right above yours. I should have clarified more in my initial post. They are fine with anyone on MY team coming in. What they don't want are other investors because they dislike investors - and that makes it hella hard to assign a deal I have full capability to assign. 

Thanks for the feedback. I'm near Houston, so these are mainly flooded properties. They're studs on slabs with roofs for the most part, so we go in knowing it's a gut job. I know they're good deals because my team has evaluated them.

The investors and wholesalers who waded up to these folks in 4 feet of water offering them lot value for their home as they desperately tried to salvage anything at all from their homes is what gave them a bad taste for investors.

They're fine with my contractor or whoever works with MY team coming onto the property. What they're not ok with is other investors. They don't care if I sell it to one, but they - to be frank - hate them and so will only deal with me. Which then presents how do I do an assign deal in that scenario when they don't want other investors who might buy the contract in their home.

Curious how y'all handle homeowners that don't want to deal with anyone but you personally LOL. I have a house I put under contract I'd debated assigning because I'm really busy right now (if not, I'll close on it, no issue), but the owner basically doesn't want people going through his house. I'm pretty much it as far as who he wants in there LOL. He wants to sell to me personally.

Anyway, I guess my post is less about this specific contract, but as to if y'all come upon situations like this - and how you deal with them. This is the second off-market seller in a row I've had who signed an and/or assigns contract, but refuses to deal with anyone but me personally as far as access to the house (aside from allowing my contractor in with both myself and the seller there).

I assume it's hard to assign a contract on a house, even with great numbers, that you can't really show (though feel free to correct me if I'm wrong). I was thinking maybe taking detailed photos AND video as I do the walk-through? Any other ideas?

Thank you @Jonathan Klemm! 

@Joe Villeneuve any faves of those multiple return types you could use?

I understand how to calculate the cash on cash return for a rental property. My questions centers around if anything differs heading into year 2. How do y'all calculate it long term? Do you do year two the same as year one? Do you do each year separately and then also average it? Any input appreciated. 

@Justin Fox - thanks!

@Michael Knaus - it is a first time flooder, and only flooded as a result of them opening up the Addicks Reservoir (Houston) in Harvey. We plan to BRRRR it (and factored flood insurance and a higher than normal vacancy rate into our rental cash flow numbers). I agree flipping it right away would be hard. Our area has flooded twice badly in the last two years. This house didn't flood in the first (Tax Day) flood, but did in Harvey due to the above. Home prices rebounded fairly well from the first big flood, with prices rising in the year+ between the first one and the second one, even on the flooded homes. However, I expect those who are now two-time flooders won't see the same results.

@John Warren - yeah, this home is down to the studs, so everything needs to be replaced. 

Having never done a flooded home before, we learned something right away. Seems a lot of homeowners in this particular area (that had 4+ feet of water that took a week+ to fully recede) were unsure of whether the sheathing between the brick and the studs should be removed as many homes were mucked by untrained volunteers (like me haha - I helped muck a few in a different area in the weeks after the storm). So, a lot of people left it. Unfortunately, the sheathing that appears to be standard in these homes is almost like a drywall and should have been removed. In the home we bought, the studs, floors, etc. were clear of mold, but the sheathing that had been left was not. So, on day one we'll begin ripping that out and then remediate what's needed after. Luckily, I had a lot of wiggle room for the rehab cost based on the purchase price. But, now I am factoring extra cost into any homes we're viewing that left the sheathing.