All Forum Posts by: Doug Haisten

I started my first direct mail campaign and got my first response. The last week or so I had a few "scripts" for the initial interview I had been practicing with but one of the first questions I was asked was "how did you get my name" and since that question was not on any of the scripts I got nervous. Internet search seemed appropriate but what do others think the best response is?

@Ryan Battista I agree I (or someone I trust) would want to see the property before signing but how do you determine if you and the seller are in the ballpark? Say a 25 yo 1200 sq. ft. house the seller who has responded to a post card mailer says in a phone interview the house is in fair condition. Do you use a $10/sq. ft. for determining the rehab costs and then, if the seller seems amiable to a offer that is subject to a property visit?

Doug   

These are very good questions that I have as well. I am doing a absentee owners direct mail campaign in my area as well as an area 200 miles from me (my old home town). I now live in a smaller slower market and want to expand. Have you done any of this so far? 

@Ryan Battista I make my first DMM drop this week and prepared to answer calls live. I even have a script handy. Question though do you go see every property before working up an offer or base your offer on a $$/sq ft and what the seller tells you is wrong with the property ?

Doug

I have been in construction management for some time and done some estimating (though not in residential) I have read several very good books and threads on BP on estimating and maybe I won't get hurt. What I am curious about is when a seller calls and we discuss the condition of the property do other investors go out to see every house to work up cost of repairs then then an offer? I am not saying my phone is ringing off the hook (I am sad to say) but that would seem like a lot of time consumed. Is there a rule of thumb that an estimate of repairs can be made, based on what the seller tells me) for developing an offer and if the seller is good with the offer then go see the house and adjust the offer as need be after I see the house? This would seem like steps to follow especially for sellers with properties out of town and since I am still working my "day job"..

Doug

When dealing with a property owner where the property and maybe even the property owner live out of my town or even my state how do I determine costs to rehab/renovate the property?

Douglas

@Jose Castillo

Thank you for the reply and for your input in the discussion.

@Ray Lai What is a good CRM program to use for DM?

@Jose Castillo What type postage do you use for the cards? Metered, 1st class, Standard?

Doug

I down loaded from my iPhone App Store the app Deal Machine. Has anyone used it? I haven't used it yet but it claims I can take a picture of it and it will "research" the property and find owners' contact information and send a direct mail post card. Its a service for $99. a month.

It doesn't seem at this point to provide any tracking but as I said, ,I haven't actually singed up for this or used it.

Doug