All Forum Posts by: Austin Mudd

Thanks for the tips guys, @Scott Costello I will continue to track through excel until I have a better sense of how i"d like to set Podio to run. I've been on it for only 24 hours so I definitely feel like i need to take more time in getting familiar with the website. I will start thinking about how to build a NOD, NOT and Probate app since those are the leads I'll look into mostly. Then I'll also build a driving for $ app to track properties I come across while door knocking. And I assume when I start mailing the addresses I drive and door knock, I can build a direct mailing app to connect the relationship to the (NOD, NOT Pro, D4$) lead correct?

Also, when I have each separate app set for each lead type, can I use some sort of automation to upload my spreadsheets week to week, without having to manually drag over each column -> field into the app when uploading? 

My update got completely butchered, didn't know it would turn out like that. Being new with database and CRM management, it's pretty tough to explain what I'm trying to do exactly. @Joshua Hill i'm sure you have the same problem. Maybe we should Skype or something with anyone willing so we can share what we're trying to do? 

New Podio user here. I have about 500 entries from FSBO, divorce, probate, notice of default and trustee sale list data. I'm targeting NODs and NOTs for now, but I've been using excel to track who I've hit and knocked. Between keeping track of those houses I need to do further research and skip trace, call with more information, knock again, etc. it's hard to keep track within excel.

I've been watching videos how people are wholesaling within Podio. Does anyone have experience with building apps within Podio to track door knocking leads and the relevant information I should keep track of and other apps to connect to Podio?

Correct me if I'm wrong but Route XL and Route4Me severely limit in some way mass importing data. Road Warrior costs $5/mth but you can import 150 addresses per route. I use it, and it lets you check in and take notes at each one and then on the computer I'll go through my notes.

I'm working with a cash buyer and we're finding that we're not able to compete successfully on the MLS in San Diego. We're putting in up to 4-6 offers a week through fixer opportunities that come through us through realtors but haven't closed on anything in the past month. At best, we're the backup or the deal doesn't look as good as it initially did.

It seems like some people are finding success with door knocking and marketing to houses. I’ve read up on what some people suggest here, but it’s always a good idea to continue to look for feedback. I’ll describe some of what I’m doing and some problems I’m having.

Door Knocking:

I've hit about 50 doors so far over the course of the last week. I'll work this between 2-6:30. I have access to weekly lists of Probates, Divorces, Notice of Trustee Sales, Notice of Defaults, Expired, and FSBOs. I don't bother with Exp or FSBO.

NOD - Seems to be the best lead generator so far. I usually will approach saying I was looking at the house for sale down the street or around the corner but was wanting to see if you're interested in a cash offer. Always, "No", so then I say that I'm aware this address was delivered a notice of default and that I work with homeowners going through the foreclosure/probate/divorce process.

Always, I'm trying to reiterate some of these facts for both NOD and NOT approaches:

• It doesn’t cost anything to talk to me, we work with other realtors/attorneys/other RE professionals to help find solutions
• If the owner has equity in their house, they can sell their house (to investors like us who pay in cash). If the lender finishes the foreclosure and it goes to auction, you’re likely to get nothing other than your credit getting slammed
• Even if you’re doing a load mod or working one out, you’re still at risk to be foreclosed on - Do you have a Plan B or C? I’m here to ensure you have a Plan B so we can avoid an auction sale.

NOT - Haven't gained a solid lead yet. It seems like this is the sort of rejection i'm seeing from NOT and NOD

• Homeowner has just been saving their mortgage pmts and is working out a loan mod/other solution
• Family or other people are helping to pay so it will be taken care of
• Working out a loan mod or have already gone through that process and secured it
• Not interested

I try to stay there as long as I can and portray that I’m looking for solutions. But almost most of everyone is willing to take my card, but they refuse to give me their contact info and they state they will call if they need to talk.

Probate - Haven’t hit more than one or two, but noticed they’re already listed/sold.

Divorce- Hard ones to do, tough to approach at the door, and seem like there’s a TON in SD. I’m unsure how to properly approach, so I usually say “I was looking at a property in the neighborhood to purchase… are you interested in selling” (Paraphrased). I usually will then directly tell them I saw the address under a divorce filing. I’d say most of the people I’ve talked to so far are foreign and don’t speak english or there’s some sort of other reason for not being interested (ex husband paying for ex wife to stay, working things out with attorneys already, etc). I’m beginning to think it’s not worth my time to visit this list, since I’d rather focus on NODs or NOTs.

Driving for $

I’m writing houses that look like they’re in bad shape down and classifying them A B or C quality leads. A’s being the worst (boarded up windows, house looks like it’s rotting, the front door is inaccessible, etc). C being the property just looks ugly, might be worth a look. Probably have about 100 address written down.

Problems (and workflow) and questions:

• Trouble keeping track of all of this information. This is my workflow
  • Take the lists of Pro, DIV, Exp, NOD, NOT, etc and import them into a master spreadsheet (requires some column readjustment from csv files)
  • Pivot the data, filter only for owner occupant, SFR NOD, NOT, Pro, Div and import them into Road Warrior (good app)
  • Pick a neighborhood in SD and use road warrior to pick my leads (I can ‘check in’ to each lead and write a note
  • In my master list, input that i’ve visited the house, and if i should add it to a Do not contact, watchlist, or follow up (just realized I should also add my notes into this, which I haven’t done)
  • Add the houses from my Driving for $$ into another list
• Spreadsheets are hell to manage databases, do you guys have suggestions on how I can make it easier to follow up with people?
• What should be doing with those homes I’ve left my business card or 2) added my by Driving $ list. Should I be sending mail? Skip tracing?

Some successful leads so far:

It seems like NODs are the most successful as I said earlier. A few people I approached were renters and may or may not have been aware of the foreclosure. A few people gave me their number or the owner’s number so I can reach out and get in contact. One lead, the son had to speak to me (grandma spoke to english) and he knew that his dad was having trouble paying the mortgage, so I will follow up and try to contact the dad through him.

This post was sort of longer than I thought it would be, but I haven’t come across any deeper door knocking threads on BP other than “is knocking pre foreclosures a good way of knocking?” threads. 

Not truly related, but I've gone through the beginning of the BP podcasts up until #70 or so. Between those, I believe it started in 2011 and I'm up to 2014. Ever since the first few ones, people have been cautioning themselves against the peaks from 2006.... in 2012. People have had conversations about being much more averse in their investing because they think their market is near a peak. I can't imagine what people are saying today on the Podcasts.

I guess the point is - who knows how long the Bay market will be hot. But here is some good reading that suggests the next peak will be in 2023-24 based on the 18 year cycle theory. I bet the people are smacking themselves who were acting to conservative in 2012 right now... how hard would you smack yourself if the market roared on for another 7 years?

https://www.biggerpockets.com/forums/48/topics/152459-18-year-real-estate-cycles---next-bust-2024?page=1

@Account Closed Please send me some information over. My parents have listened to a few of the BP podcasts regarding MH investing and I think it would be helpful to get out with them and meet you and the others to see if they're interested. 

Hi all,

I'm moving out to Pittsburgh from San Diego in a few months. Will be looking at acquiring a multi family property and owner occupying. Have connected with a few people such as @Gary Swank but would be glad to speak to others. 

Don't have any opinion on option 1 vs 2 since I don't know what the time commitment is like to manage a portfolio, but I'll be moving to Pittsburgh to start work this August. Looking at doing what you're doing to house hack a 2-4 unit. 

Would love to speak to you further. 

@John Powell that's a great way of getting around the FHA route. @John Upperman that seems to be a great plan by being able to take advantage of cash flow and then cash out your equity. I'll keep that in mind.

@Austin Youmans that's informative, appreciate it. Sounds like a lot of stuff. @gino 

@Gino Passante are you talking about connecting with a property management firm to handle my MFH or a management firm to handle something else?