All Forum Posts by: David LaPlante

@Leslie Schwab replying for Sean. Yes, we do! We recently launched national coverage. Here's a link to what we cover in St. Louis County: https://www.propertyradar.com/...

We offer a free trial so you can check it out directly and ensure the data you are looking for is there. And our Support team is happy to help with any and all questions: https://www.propertyradar.com/...

Hi @Youssef Fahmane, replying on behalf of Sean.

We’re aiming for a soft beta of nationwide coverage shortly and a full launch in the next ’couple months. Contact Kim in Support if you’d like to be on the beta invite list!

Looks like Clark County is being really aggressive about cracking down on STRs:

https://www.reviewjournal.com/news/politics-and-go...

Clark County’s crackdown on illegal short-term vacation rentals resulted in a record-shattering number of investigations last year.

The county opened 501 cases, more than double the number opened in 2016. As of March 24 more than 100 cases have been opened this year.

@Emma Bennett Everything you need to know about Clickbait...and how to master it can be found here.

;-)

@Richard Licon some additional nuances to consider: 

• Only track notices, or all foreclosure-related activity as well, such as Opening Bids, Postponements, Cancellations, Winning Bids, New REOs, etc.?
• How frequent are the updates? Weekly, daily, hourly, every 15 minutes?
• Is there the ability to automate some of your workflows and set alert notifications to email and mobile phone so you never miss a new opportunity or status change? A mobile phone app is key so you have persistent access no matter where you are.
• Total operating cost (coverage, cost of exports, cost to acquire additional contact or transaction history data) factoring in assumptions in overall marketing effort and volume. Time is money and your most valuable resource.
• Finally, if you have a question, how fast will their Support get back to you? 

Hope this helps! Good luck!

@Dain DaVirro you're welcome.

Check out NorCalREIA - I go to that fairly often. I'm up in Tahoe - and Sacto is 1.45hr away. 

Yeah identify some transaction archetypes, reverse engineer the transaction financials and see how it flows. Drive the properties - talk to the renters see what they're paying.

@Kashif Riaz I'll ping you privately.

Thanks @Ben Howard

Here are some quick insights (lists) about the Sacramento County MFR 2-4 market:

16,044 properties designated MFR 2-4

5,056 owners live outside Sacto County

4,476 owners live outside of California

884 were sold/purchased in last 365 days (~5.5%)

2018 YTD: 343

2017: 943

2016: 863

2015: 812

4,520 have 100%+ equity

796 are underwater

12 are in Preforclosure

263 marked vacant by USPS

143 were purchased at auction by a trustee sale buyer

1,445 have had a death of joint tenant in last 365 days

Since 2016, 676 transactions were off-market - and scanning through those buyers a lot appear to be investors as they've done 2+ deals or their LLC name indicates investment orientation. Those would be your aggressive competition.

Only 67 were flips since 2016, as expected, this is buy/hold territory. The investors who did multiple MFR flips in that period are names that are routine and volume SFR flippers.

Hope this helps - only had 15 mins to investigate.

Hi Scott,

Congrats. Getting into direct mail is fun!

So there's no "better" - just different strategies that depend more on where your priorities are with regards to time, money, market intelligence, and experience. And what gets you excited. 

Some things that do matter:

Emphasising upfront investment or effort in targeting the right prospects saves you the expense of sending direct mail to the wrong prospects. Better targeting also makes it easier to craft messaging that resonates with the recipients. Make it more about them, less about you.

You can invest those savings in:

1. Multiple mailings to that smaller targeted list of prospects. Frequency is as important as the targeting itself. Hence "campaign" - multiple mailings over time...because timing is everything.

2. The ability to A/B test multiple mailings for improving the creative and messaging.

3. Investing in professional help with design, messaging, and delivery optimization.

4. Reaching those prospects across multiple channels, or setting up a means to capture response electronic for online retargeting.

Often, the targeting is not as difficult as navigating the nuances of crafting creative designing direct mail and that stands out and connects with those prospects with the right message.

The best bet when getting started is to make small bets as you learn the process, gain experience, insights, and results. 10x to 100 with 2x creatives is better than 1x to 1000. 1x doesn't provide you experience, insights, and results.

Hope that helps!

@Ed S. Not crazy at all! My wife and I did over 300+ miles of "Biking for Dollars" this summer. I got a Rockform iPhone stem mount which helps. Use a GoPro as well with GPS to review time-lapse photos later. Faking a flat tire can get someone to come out of their home and say hi and offer assistance ;-)

 @Gail Govednik No doubt driving/biking for dollars is not for everyone, and that's fine. Different strategies for different people. And I certainly agree that it's foolish not to leverage the data and systems to research and target properties, streets, and neighborhoods...But!

Data alone can fail to inform you of many aspects of the properties and neighborhoods that can only be observed or discovered by visitation.

For example, it's fairly common to discover upon visitation that the "owner-occupied" property is actually a rental. The motel is now MFR. The public record was never updated. Or the SFR with NO pool and yet as I peer over the fence...yup! There's a pool. Observing a tricycle and toys on the front lawn tells me there are young kids present. A bumper sticker or political yard sign may give me an approach to make a connection when I knock the door or talk to the neighbor.

Other insights are only gained by speaking with residents and neighbors.

"Nancy across the street fell and broke her hip about a month ago. She's 93. Doubt she'll be returning. I've seen her son, who owns the home, over here a lot starting to fix things up. Looks like he may be getting ready to sell to afford to put his mom in a senior care center."

Once I discovered from a friendly corner conversation that the neighborhood was built during the post-WWII metal shortage and all the sewer pipes were made from clay. That I'd better research whether a specific property had updated to PVC. Otherwise, there was almost certainly going to be a hidden cost of $20k within 2-5 years to update to PVC. He was pretty vocal about it because no one told him and he got nailed. Pretty much every sewer pipe in the neighborhood was starting to fail with root infestations and the City was only updating the main.

Relying 100% on public record data alone can increase your risk for missing deals or making a bad one. You don't know what you don't know, and failing to observe and validate creates opportunities for those willing to jump on their bike, get in their car, and go knock on doors.

Again, I agree, you'd be remiss to not leverage public data and the systems that assist investors to target their next best deal. And that alone is awesome for many. But relying on data only creates myopia in the market and presents an opportunity for those willing to pound the pavement and knock on some doors.

@Guy Olds You're correct on California...5.0% or slightly less than 450,000 are underwater... 8-)