All Forum Posts by: Trent Rogers

So I got Propstream fired up and started pulling lists but I'm starting to think their data for our area is trash. 

Just spot checking the search results there are addresses I know are barely standing, partially burned, or boarded up, that they have categorized as "occupied". 

I have found things as simple as the last sale date is way off and it doesn't show the most recent sale like the tax records and Zillow does. 

When I pull failed listings for the past 8 months it comes back with 3....I find that hard to believe. 

I've even had it pull vacant land up as a SFH

I'm not really sure where to go from here because I could waist hundreds of dollars skip tracing and mailing with this data.

Any suggestions?

 I'm certainly not opposed to cold calling, I just figured my response rate might be better with text because it doesn't seem like anyone wants to actually talk on the phone anymore. 

Out here in the country I think a more personal approach through mailers might be received better so I've been looking into companies that pull off the "wet" hand written look the best. 

 Nice, thank you for the feedback! Did you print the mailers yourself? It seems most good mailer services have some minimum order (500) and I currently don't need that many. 

It's also interesting that so few numbers actually correlated to your skip tracing...what skip tracing service did you use?

My wife and I live in a fairly rural county and rarely do wholesalers send us properties where we want to buy. I think this is because of how archaic our county records system is, not much data is available online. We really want to target flips and rentals in our area so I have considered doing my own marketing. 

In our case we won't be sorting through large amounts of data and generating thousands of leads like a traditional wholesaler does. For example, we spent two hours driving for doors yesterday and came home with 45 leads. Same thing if we go pull lists at the courthouse, it won't be tens of thousands of people. 

Because this is really just a lead source for our own purchases and the volume of leads will be low I'm struggling to find a fairly cost effect solution for texting. It's my understanding that under the new regulations carriers are requiring these texting platforms to register businesses using their EIN. Most of these texting services can be pricey and LLC's aren't cheap in TN. I really don't want to set up a separate entity just to generate leads, especially when my low volume of texts isn't likely to get flagged by the algorithm if I'm careful about keywords.

I don't want to use my own personal sell number and being able to text from my computer would be a plus.

Can you guys and gals suggest a good solution for sending out a few hundred texts a month?

Edit: The more I read, the more it sounds like cold texting is now flat out illegal. So is every business getting an opt-in or are some just simply ignoring regulations? Very confusing. 

I've spent the morning digging into crm's and list builder services. I had written off Launch Control because their entry level pricing was about $500 while most of the others start around $100 per month. I have zero experience with any of them other than Propstream so I'd be interested in hearing your thoughts on cost vs value.

@Nicholas L. the way I read this he is simply buying them below market and he believes they will currently appraise for $60k without waiting on appreciation. If that's the case, why not just get a DSCR right from the start?

 That's the basic concept but I think you are getting into a territory that becomes very lender specific in regards to terms. For example, will the lender offering 80% have a higher rate than a lender offering 70-75%? Early payoff penalties, points up front, etc.

Also, when it comes to cash out re-fi's with DSCR loans, some lenders will only cash out the initially purchase + rehab cost and no additional equity...again this will vary lender to lender.

Do you mind to clarify this a little?

Also, if there is any seasoning period required for a leased unit will you touch on that as well?

 Thank You!