Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
I have apprehensions because any system that is made super easy and highly accessible to the general public has the potential to become over-saturated very quickly. As an example, on this program you can target high equity vacant homes and mail the letters with just a credit card and a few mouse clicks. Great right? But how many other people are on their laptop with a credit card doing the same thing? How many other people think this is so great and they're right beside you mailing the same addresses with the same letters? Nobody is able to scrub their list to filter out duplicate addresses, that is, addresses that others in the system have or are about to mail to. It would be fantastic if Kent had incorporated this scrubbing into the system, but no such luck. And, of course, that would cut down on the profits that are being generated from the mailers.
In this business the more work you have to do to get the leads the less competition there is, which equals a higher response and more high-quality deals. Conversely, the easier it is to get the leads the more competition moves in and the effectiveness of that strategy dwindles. The real deals in this program may very well be found in skip tracing the owners of the returned mail. That's additional work, and more work means most others won't do it.
Long Beach, CA · Member since 2013 · 79 posts · 8 votes
13y
I sat through the webinar and while they tell a good story, at the end it still sounded like they were selling magic beans. In another thread on this topic, I posted that a friend of mine is in IT for one of the larger cities in SoCal and identifying vacant properties is a challenge even for them.
What I didn't see in the presentation was a methodology or basis for an algorithm that could identify vacancies.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
As I invested in the software I also was skeptical about every house being vacant. I drove around one town near me to 6 addresses 5 were distressed and vacant, 1 I couldn't find . the following week checked the same town and list was updated to 15 total 9 new.
Did a first letter out of 5 to 91 addresses got 12 returned undeliverable, and got 6 calls. Teemed up with a couple from SC mailed 180 to Greer SC got 28 returned and 6 calls. Now I'm working on 2 on LI ready to make offer.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
I always say you need to spend some money to make money. If you don't work the market in some way it's not going to fly on to your plate..... people got my letter and called me so the motivation part works 6 calls on 180 in less then a week I think is pretty amazing!! 28 came back non deliverable but your going to get that in any type of marketing.Now I need to work them with offers.
Real Estate Investor · Encinitas, CA · Member since 2013 · 25 posts · 7 votes
13y
Thanks everyone for the feed back.
Phil... I thought it was BS too so that is why i am here asking the BP Community. Doing homework first.
Dean... This is a different software. You can find out about is his website.
Steven Gottlieb... Thank you for sharing your experience. For how long have you being using the software? Are you really getting new updates every week ?
Real Estate Broker · Orange, CT · Member since 2013 · 951 posts · 218 votes
13y
Why would you send mail to a house you know is vacant? Is the post office redirecting their mail? Usually (at least with foreclosures), the people don't inform the post office b/c they don't want to be found.
Real Estate Investor · Encinitas, CA · Member since 2013 · 25 posts · 7 votes
13y
Steven Gottlieb... Does the software give you the owners address as well as the homes itself, or you sent your letters to the the vacant property hoping that the owner will get them?
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
Originally posted by Leonardo Cadenazzi:
Thanks everyone for the feed back.
Phil... I thought it was BS too so that is why i am here asking the BP Community. Doing homework first.
Dean... This is a different software. You can find out about is his website.
Steven Gottlieb... Thank you for sharing your experience. For how long have you being using the software? Are you really getting new updates every week ?
They say once a month I saw 9 more for one zip in one week when I was fist checking it out. I'm waiting for a call this afternoon from Chris Richter. I just picked a zip code 7 houses came up printed letters and envelopes and in the mail.... trying to do a zip a day only way I'm going to get calls......
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Steven Gottlieb Leonardo Cadenazzi Hi all, ran across this thread and wanted to join in. I also purchased the FindMotivatedSellersNow software recently ($995 investment). To answer your last question, the software gives you multiple addresses: It gives you 1)the address of the vacant property and 2) the property owners address. 1 and 2 may or may not be the same. If 1 and 2 are the same, you can invest a little time and effort to skip trace. If 1 and 2 are different, just mail the letters to get phone call from the seller. I just mailed out 700 letters today (first mailing) and am eager to see the results from this first mail-out. I am very happy to hear that you've gotten a few good calls from it Steven G. I agree with the notion, you've got to spend money to make money! :)
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Leonardo Cadenazzi you're welcome! I will definitely keep you welcome. I just chatted with Steven Gottlieb and I hope to have my phones ringing off the hook like his have been ;) I'll check back in next week.
Landlord · Dallas, TX · Member since 2012 · 505 posts · 34 votes
13y
Steven Gottlieb Steven, would you say that your leads from this find vacant properties now are performing better than the leads you use to use? For example generic zip code lists from list source?
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
I would say that driving around looking for motivated looking homes is a wast of time did it!! going into county records most of the time leads to a dead end. like Jennifer G. said if the address is different the the property then send it in the mail. If the address is the same as the property mail it and skip trace the back end for more info.
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Steven Gottlieb Do you happen to have a good contact for inexpensive skip tracing? If not you, anyone else on this thread?
Jennifer Gibbs Definately track your results and let us know!
I would imagine that this program works as stated. I couldn't fathom Kent putting out some junk program that doesn't work. After all, he does have a reputation to keep. And with the internet, bad news travels fast and far. Good salemanship only takes you so far.
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Carolina E and Anthony Z. the FAQ's in the software explain a little about how they track the vacant houses in their system as well as go about frequently updating the system. They don't give a clear defined idea how they get their data except that they get it from various sources, filter it, try to scrub out all the REO's, etc. They give you multiple layers to sort your data, such as vacant, vacant + high equity. They define high equity as no loan on the property in 15+years. Now, vacant is defined as not occupied or abandoned. This is where it could get tricky (but still profitable). Not occupied could just be vacant due to death, eviction, a divorce, or someone simply moving. The person could call and not be interested in selling THAT property but perhaps another.
Bryan K. I think you're right. They use government agencies to keep up with vacancies, but I don't know exactly how they do it.
Also, you're correct Anthony, they give you lots of options for printing and mailing the letters. For example I had them mail them for me, which I had to pay for. But the cost includes the envelope, postage, my logo, my signature, everything. You also choose the letter you want sent.
I'm anxious to see how it turns out. My letters will be in the mail today!
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Jerry Kisasonak I forgot to mention that yesterday I was contacted by a person in Chicago who does national skip traces. I haven't used his services but if you're interested in contacting him and doing your own due diligence, his name is Gerald Yohanna. He is on BP.
Real Estate investor · Atglen, PA · Member since 2011 · 90 posts · 21 votes
13y
Originally posted by Jennifer Gibbs:
They don't give a clear defined idea how they get their data except that they get it from various sources, filter it, try to scrub out all the REO's, etc. They give you multiple layers to sort your data, such as vacant, vacant + high equity. They define high equity as no loan on the property in 15+years. Now, vacant is defined as not occupied or abandoned. This is where it could get tricky (but still profitable). Not occupied could just be vacant due to death, eviction, a divorce, or someone simply moving. The person could call and not be interested in selling THAT property but perhaps another.
The fact that they scrub REO's certainly is a plus. Almost all vacant properties in my area are properties that are that have been through the sheriff sale process but the bank hasn't put it on the market yet.
I have yet to come up with a way to buy these properties from the bank. Other than wait until they come on the market...
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Anthony Z. and Daniel Fisher I'm also very intrigued because according to the info the FAQ's give me most of these will not be listed properties. Supposedly they are off most brokers radars completely and the average investor or broker doesn’t see them. Fingers crossed ;)
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
Anthony Z, you have the option to print your own letters and envelopes, or have a mailing service incorporated in the program mail for you for .98 each. There are 5 letters and should mail the second about 2 1/2 weeks later same with 3rd,4th,5th,letter. As the letter go, they get more personalized 2nd,3rd ect. As far as how does it track vacant properties, their all not vacant. this program was developed by Chris Richtler NASA rocket scientist on paper and Kent worked with him to get it to program.
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Daniel Fisher You mentioned not being able to get properties from the bank. You should look into purchasing distressed notes. That's how you can get at these homes prior to the sheriff sale. I have no further advice... just planting a seed. I have friends that have taken this route and it has been very profitable for them. Also, they've found that the competition is low in that space. This is always music to an investor's ears.
You could also market to preforeclosures. Expect to see talk to alot of people who are in denial, and expect to talk to alot of people who are too late in calling you. These two things sort of go hand in hand. Some tend to think all is well until it's too late. Then they'll call you looking for a savior. You'll have to tell them that sadly you left your cape in the shopping cart at Walmart, or can't remember the wording for that particular spell, or that you're fresh out of the ingredient "baby toenails" to make that potion. You get the idea. I talked to a lady Monday afternoon who wanted help. I asked when the sheriff sale was scheduled for. He said "This morning." Too little too late.
Jennifer Gibbs I will contact the skip trace person you mentioned. Thanks!