All Forum Posts by: Thomas Garnett

I have been working with a direct mail company to try to formulate a plan for marketing to sellers. I asked what their KPI's look like, specifically cost per lead. They are currently sending out 250-300 letters to generate one appointment. Assuming it takes you 10 appointments to get a deal, they are stating a cost per deal of ~$4,000-$6,000. This seems very high to me. I am curious what kinds of KPI's your direct mail campaigns are generating. 

Hey Chris, Thanks for the response. I guess I am just a bit confused with the process. Everything I have heard says to get your financing options in order before you even start shopping for a deal to get an idea of what kind of deals to look for.  So does every bank I talk to need to run a hard check to give me a general rough idea on what they are willing to finance? Or are banks generally willing to give me an idea of what kind of financing I can get without running a credit check?

Hi Everyone, 

I am working on getting an idea of how much I can conventionally finance for my first deal. I have a list of local banks and credit unions that I am screening. I plan to narrow it down to 5-10 and then talk to their MLO's.  I have not started seriously looking for a property yet, but I plan to purchase a small multi-family to house hack. I have never owned a home, only rented. When I talk to the MLO's do I need to get prequalified for a loan when I am shopping for financing without actually pursuing a property yet? 

Thanks in advance!

Thomas