All Forum Posts by: Wesley Sherow

Chris,

When the pandemic hit I was managing a spread of low end to high end housing. A month or two ago I dropped the very low end, but I can use that experience in this answer. I found that immediately the pandemic reduced low end income by almost 30%, while high end was dropped by 10%. As the pandemic progressed things started to normalize. While I had the few taking advantage of the pandemic and refusing to pay rent (who of course we're evicting), however with any new tenants we get, we're having absolutely no nonpayment issues.

When deciding to invest in a new area, analyze the rent roll - those who are not going to pay and take advantage are ALREADY doing it. Those who aren't probably are not. In my experience there is little to no in-between. Moving forward be selective with new tenants and i'm sure you'll have no issues. I'm sure many of us see a buyers market on the horizon.

Wes

Did actually, and they're tapped out. Oddly these bigger people I work for a pretty insulated - with families and such, and don't do much networking. 

Scott, I just got started with marketing on Social Media. Will be seeing the effectiveness. As for mailers I haven't really done so before. Cold calling I've done and boy is it hit or miss (mostly miss, i think i just come off too strongly as selling a product).

 Matt, Both actually. My current clients are looking to purchase more real estate, and they find value if I bring them interesting deals. Similarly, of course the bread and butter is finding new management clients and prospects. Both I find are most accessible through cold calling. 

Oddly in my time looking into investments I don't see build to rent come up so often. Many of the new developments I see nowadays are built and then sold as turn key investments to those who want to hold. What is the executive summary of why you chose this niche? Why not build and sell? 

So this isn't a CRM (with the exception of Zen Sell), but Zendesk I find to be among the hardest hitters I've found for communication. It's ticket based communication system combined with the tons of integrations for communication streams. I've been through HubSpot, Salesforce, and I've tried using homemade systems on Monday.com and Trello, but that seems to work best for my style of communication.

Bigger Pockets People,

I've been investing & managing in Upstate New York for over a year now, and have actually seen huge success in the functional, teambuilding, investment picking, operational stuff. But with a background as an engineering nerd, marketing (specifically cold calling) is the bane of my existence. I'm looking for some other ways that ya'all who are similar to me get around the biggest hurdle of shameless marketing phone calls? Any alternatives you've found?

Though I manage a lot of units, I've done so with only 2-3 major clients. I've found the clients that I've gotten so far entirely from personal introductions and recommendations, however I feel as though if I rely on this method it might be too slow. 

Any recommendations on resources appreciated as well. I've researched it a bunch but seem to always get to "join this real estate mastermind for $5,000." 

Hey! Just in case here's the attorney that I use: Gilah Moses at Moses Law. She's been working with us in our management portfolio of over 300 apartments, and she's the bomb.