All Forum Posts by: Bobby Valcin

@Tracy R. Sorry it took so long to reply. I'm glad you have a good outlook on it. Did they say what it would actually rent for at the REIA meeting? I would probably try to compare it to other remodeled one bedrooms in the area.

@Tracy R. I must say, I’m impressed. I may reach out to you to do my rehab! Did you do everything yourself?

Can you really rent a one bedroom for $1700? Have you had any inquires yet?

Thanks, Greg. I actually do have some cash buyers on deck waiting for me to find some properties. My wife is going to help me with creating a website. I do agree that people will want to check me out online to make sure I'm legit. I do realize that I should be doing some online marketing as well. That is a whole different animal, however, once I get my first or second deal, I will probably start focusing on that more. 

Great feedback Kase. I appreciate you taking the time to provide that info. I think you are right. I need to see some results before I start offloading too many things.

I've decided to go with Podio Premium as my CRM which should address multiple technological needs. I do have to learn it or find a VA to set it up for me. It's tough to find a skip tracer that people are consistently happy with so I'll just have to try them out on my own.

On weekdays, I have about 30 minutes in the morning from about 7:15-7:45a (which may be too early) that I can do calls and about 45 minutes to an hour in the late afternoon (4:15p-5:15ish). Saturday would be the only day that I could focus on it for a few hours. I was thinking that amount of time would not be sufficient. Since people could call back at any given time, I thought it would be worth paying for the answering service (I think I saw one for about $20 a month). My understanding is that answering the phone calls live produces a higher percentage of deals closed. Even if it is just a few I think it is important that someone answers the phone. I am new to wholesaling so I am open to correction if you feel otherwise.

The lists are the thing that I'm a bit stuck on at the moment. One person says a site like List Source is great and the next person says it sucks. It has been hard for me to decipher, however, like with the skip tracing, I may have to just test some of them out. Based on previous threads concerning REBO Gateway, it looks like the results that people received were largely based on what part of the country the data was being pulled from. I'm planning to focus on Central Florida primarily.

I have roughly $500 to work with per month (including software) and I am looking to see what some knowledgable BP members might think would be the best of use of those funds. I'm also quite limited when it comes to time. My thoughts are as follows:

1) Hire a VA at about $10 an hour to work about 20-30 hours a month to do cold calling, send offers, follow-up, etc

2) Use Pat-Live or something similar to answer calls live when they come from direct mail marketing campaigns, callbacks from cold calling, etc.

3) purchase small focused lists like probates, evictions, delinquent taxes, etc. I also have a realtor that can get me just about whatever info I need from the MLS as well.

4) Prospective tools: Mojo Dialer, Freedomsoft, REIBlackbook or Propstream (recommendations on an all in one type of software would be very helpful), reiskip.com for skip tracing, Vumber.

The answering service will be about $20-$40 per month, plus the cost of each call. Total for the tools will be about $150 per month, the cost of the VA will be about $200 a month (20 hours). The remaining $100 or so would be spent on the lists. My business partner (the closer) will most likely be the one going on the appointments and I will be stepping in once the lead has been screened by the VA or the live answering service. I will also probably be doing a little bit of the VA's work since 5 hours a week may not cut it and doing some appointments.

This is all rough math and my numbers may be off. If you have any recommendations on some tweaks, better and/or cheaper tools, marketing ideas, etc, feel free to give feedback. Your time is much appreciated. I'm looking to get started sometime next month. 

Tracy, I'm glad the project is close to 100%. $1000 in rent sounds great for a one-bedroom (i'm assuming it's a one-bedroom). When I clicked the link it said 'Sorry, this listing is no longer active on Cozy'.

David, you are absolutely right. The more I look into wholesaling the more I realize that much of it is striking a balance between automating and legwork.

@Tracy R. Thank you, Tracy. Very helpful. I will definitely need to make another call to confirm.

How are things progressing with the work on the house?

Sounds intriguing, especially the part about spending time on pricing and sending offers. I will be in touch.

I like your excentricity, Jerryll. Thanks for the encouragement.