Hey BP Nation! As everyone has probably noticed, the market is out of this world competitive right now. What massive action are you taking to find deals? I thought this would be a great way to not only encourage one another but inspire some new investors to begin taking action rather than waiting on the sideline and potentially missing out on some great opportunities.
Ours for this week was just under 1000 written, hand signed offers sent to off-market property owners. Will keep you posted to see what shakes out.
McAllen, RGV, South Texas, Deal Finding, Off-market, SFH, MFH, Rentals, Flips, Wholesaling, Brownsville
Awesome Boone! Let us know how it goes!
Nice Boone! Just out of curiosity, who gets the big manila envelopes? The paper scraps in front are what's getting stuffed inside?
@Cameron Tope Thanks man! Excited to see some results
@Jake F. I sent actual 1-4 family 10 page offers to MFs that had been on the market anytime in the last couple years that haven't sold. Those were the big yellow ones.
And the paper scraps were all the labels pealed off the envelopes. We bought the kind we didn't have to lick ahaha.
So you are the one keep sending me this notes to my multifamily properties... LOL!
This is awesome! Thanks for sharing
The massive action I am taking is learning how to run the numbers on a rental property. Let us know how it goes.
@Mike Martinez what are you doing to analyze deals? I have a program I use in google sheets to help me. It's just plug and play so its pretty quick. Would this be helpful if I shared it with you?
@Boone Tyson I am currently using the bigger pockets rental calculator. But I’d be willing to give it a try, if you could sent it to me that would be great.
We are targeting larger multifamily deals. For us starting out in this competitive market, we are concentrating on building solid relationships with local brokers and building relationships with future investors so when the right deal that meets our criteria shows up we can pull the trigger and get the deal closed.
@Boone Tyson We are currently focused in the Carolinas. We are focusing on the Charleston, Charlotte, and Greenville markets. We plan to expand into other markets as we grow. Yes this will be our first multifamily as a GP. I have been passively investing in multifamily for a few years now and wanted to make the transition into an operator.
@Jackson Babcock Good for you! What size units are you targeting primarily?
FYI, got 2 calls today from mail. One threatening a lawsuit and the other wanting to sell!
@Boone Tyson We are looking between 100-200 Units for our first acquisition.
@Jackson Babcock That's great man! Good for you. That seems like a great market to invest in. Keep us posted on your acquisition. Are you raising money or just getting it done with the partners
@Boone Tyson We will be raising money. Also my partner and I will be putting money in all deals. Right now we are working on building those relations with potential investors.
@Jackson Babcock That sounds really cool. Excited to hear how it goes. I have a friend raising money for MFH new construction
That's awesome! Take matters into your own hands during down time.
I know it can be daunting to sign + seal that many letters. If you ever want to try a mass marketing product that keeps the integrity of a handwritten/signed letter, check out our new AutoPen letter. It uses forever stamps, and we send them to you ready to mail so you get the local postmark.
Curious, how are you qualifying the properties you are mailing to? Bought a list or drive for dollars? Are you running full numbers prior to sending them out, or waiting to see what comes back. Super new at this , so thanks in advance for the info.
@Jake Soper That's cool! May give it a shot sometime!
This is great! I've committed to cold calling on 100 properties per week. It can be taxing but very rewarding. Keep up the good work!