All Forum Posts by: Andrew Cordle

I am curious to know what your target is! I always go to specific needs for email marketing. It is a foreclosure I use verbiage for foreclosure. If it is a probate lead I use verbiage for probate etc... I think sometimes the consumer needs to be lead to specifically what we are after. Also, we have been very successful with our email marketing, but we go after very specific needs. Divorce leads have been especially fruitful!

I am curious to know what your target is! I always go to specific needs for email marketing. It is a foreclosure I use verbiage for foreclosure. If it is a probate lead I use verbiage for probate etc... I think sometimes the consumer needs to be lead to specifically what we are after.

So we have done hundreds of flips in the last decade everything from full gut jobs, tear downs, light rehabs, cosmetic rehabs you name we have done it, low end to high end. Saying that, it as been a dream of ours to do a cornerstone, epic, historical house. Meaning not even just a small historic house, but one that would also be a cornerstone historical house for the whole neighborhood. This was bought more as a pet project as well as an investment. We plan on spending at least year on this project as we want to take our time and enjoy it.

We have recently got this house in Atlanta GA. It is a corner lot right across the street from the park and just a block or so away from the Charter School.

Purchase Price was $225,000

Rehab Budget $250,000

List Price $750,000

If you have any advice or even opinion I would love to hear about it. If you have ever rehabbed any historical house I would especially like to hear from you.

Thanks for your input.

Andrew

@Robert W.

@Jay Lozano

Just a heads up there is a Texas Expo happening in San Antonio on May 31st. I believe it is Free to attend. There is really no high pressure selling from the front of the room several guest speakers etc.

You may want to check it out. www.texasexpo.com

Here is a timelapse video of a house we recently did.

Let me know if you have any questions or thoughts.

Thanks

Andrew

Hey Nathan, I have heard the Savannah REIA meetings are a little small. How many would you say attend? If you every wanted to make the drive over to Atlanta to our REIA meeting your are more than welcome.

http://www.meetup.com/ElevateREIAAtlanta/

I think this is a problem that many people face. We have done direct mail for and my company generates nearly 1600 leads in a year both in Chicago and Atlanta.

As I look at your letter I would not change much. I think the biggest issue is your data.

We constantly shift our target. You might try going after something more specific like - Divorce leads (you can get these on listsource.com), Also most people tell you to mail monthly. I find if I am consistently mailing once per week over a month period to "distressed mortgage situations" it yields higher responses than monthly mailings.

Also a technique we use is when we have a certain area hitting we will do an EDDM (every door direct mail) post card through the postal service to that mail carriers route. This also has had a very high yield.

Hope this helps.

@Account Closed

Hey, here are some of my thoughts...

When I list flips (over 100 this year) I am watching a few things:

1. If I list a flip and do not get several showings within 2 weeks then I can assume that the house is over priced. Buyers do NOT show up for houses that are over priced no matter whats inside them.

2. If I list a house and get several showings but no offers then I can assume that it is something at or about the house. So I will begin to make changes. If people are showing up to the house it is priced right but there is something at the house that is saying don't buy this house.

Also keep in mind when flipping there are three things that sale houses:

1. PRICE

2. PRODUCT

3. PRESENTATION

You must focus on those three things when you are working on your outcome or sales.

If you have any questions please let me know I am more than happy to help you in any way. Again flipping is my game I have done literally 100's of them. I bought over 1 million dollars this week alone in new flips.

Good Luck!

Andrew

I think you need to choose what methods work well for your market. We are flipping hundreds of houses in 2 different markets. In the Chicago market we do a ton of electronic marketing which is a cheaper medium but in Atlanta our budget is increased because the amount of properties are decreased. I would say get a good web-site to establish credibility, get a few printed pieces of material. Beyond that always invest in good data. One good tool we use is the investor carrot web-site and that has given is a ton of leads as well.

Something you might consider is getting an investor carrot site and use all of your electronic marketing there. This has worked extremely well for us in Atlanta as well as the Chicago market. The cost is around $30 per month for 1 site.