All Forum Posts by: Chris Policicchio

@Lavone Ealy, if you haven't already, I recommend reading @Brandon Turner's post on Direct Mail.  It's a great intro.  Additionally, listen to the podcasts featuring Michael Quarles.  They are episodes 77 and 81.  That should get you started.  There are endless resources on BP, but those few things should give you a great foundation.  Good luck!

 All are through direct mail.  I have used Listability for my leads.

 Yes, I have.  

Hello Pittsburgh BP-ers!  Does anyone know of a great electrician who has experience replacing knob and tube?  I have a duplex that I'd like to upgrade and the knob and tube is something I'm considering replacing.  I'd love to get some good referrals.  Thanks!

It's part of my script for the answering service to ask the property owner what they think the house is worth.  If they don't answer, I will typically ask when I call them back.  The only times I have been asked to name a price or make an offer, the sellers were not motivated to sell and they are usually not cool about it.  :-) But when the owner talks about the house, is open about repairs needed, what they owe, etc., I have found most to be realistic when it comes to what they want.  From there, I typically will do some of my own due diligence to determine if their price makes sense (i.e. is it a good deal).  

My two cents!

Good luck!

I'm not exactly sure what you mean by "co-wholesale", but if you are ready to go, but just don't have some cash, have you considered writing your own letters?  How many letters or post-cards are you looking to send?  Do you have a list of addresses?  You might be better off getting your list now, cleaning the data and starting to send some letters out on your own.  March is right around the corner.  Good luck!

Thanks @James Hunt and @Gary Zakes!  I appreciate it!  

I just wanted to share my own success that covers my first 8 months in Real Estate Investing.  While it is not one specific story and I don't have any deals where I have made thousands of dollars or really high profit margins, I have definitely had a lot of success.  I think it's important for new investors to read and learn that you can achieve a lot in 8 months, even while working a full-time job and while being an active parent and husband.

First, quick background, until May of 2016, I had zero real estate experience or knowledge.  I wanted to find new income streams and real estate (specifically buy and holds) was always something I thought I'd be interested in.  

It's now January 2017 and I consider the following my accomplishments to date:

• I completed one private lending deal (where I lent money to another investor).
• I completed one small direct mail campaign and I'm in the middle of a much larger one.  The first campaign netted one deal (which I gave away) and possibly a second (still working with the property owner).  The second campaign is showing a lot of promise (two deals under contract) and I'm only about half way through the mailing.
• I purchased my first property off the MLS in December (duplex).
• I'm in the process of completing my first wholesale deal (lead came from direct mail).
• I'm in the process of completing my first seller finance deal (lead came from direct mail). 

And while none of the deals I have already completed is going to lead to me buying a Telsa in a couple of months, the education of going through the process of each deal has been invaluable.  

My accomplishments were made possible because of local investing associations (REIA and ACRE), networking, books, and most of all BiggerPockets (podcasts and forums). I'd say my BP is at least 80% responsible for my REI education. However, podcasts and webinars without action is not going to lead to finding or closing any deals.

Anyways, just wanted to share.  Hopefully a new investor will read this and be a little inspired or motivated.  Not every deal is going to be a $30k profit.  But you can go from ZERO to 8 months and learn and accomplish a tremendous amount due to BP and the community at BP.  

Thanks everyone!  Happy 2017!

@Greg Myroth You probably have the info you need here, but I thought I'd share my two cents, too.  

It really depends on how many deals you think you want for yourself, who you are marketing to, and in what areas, etc.  Obviously, if you expect low call volume, you probably don't *need* an answering service.  Personally, for my first campaign, I used PATLive.  It was a tremendous help to me b/c I was brand new and I have almost no ability to answer calls during the day.  Being able to see calls coming in (b/c you get an email from PATLive) is awesome!  My second campaign just kicked off and I'm using PATLive again.  IMO, spending 5-6% of your monthly budget on an answering service is a no brainer.  Having to answer calls where someone says, "take me off the list," or "tell me about the company," is not the best use of your time.  And if you end up spending more than $85/month on the answering service, well, that's b/c you are getting more calls - which is likely a good problem to have.  

FWIW, for my first campaign, I used the #1 YellowLetter at www.yellowletters.com and PATLive.  I'm using both for my second campaign, but my second is much bigger and I'll actually send out to the same group (with different types of letters/mail) this time.  However, I do plan on utilizing other direct mail companies, b/c you usually get a good deal for your first order (e.g. 10/15/20% off).  This will allow me to sample other vendors and see who I actually prefer.

Anyways...good luck!