All Forum Posts by: Jerry Puckett

Hi @Jay Gross

I'm a sort of one stop shop for what you are looking for. Please feel free to read through my profile, and check out my references at the bottom. Reach out if like what you see. Thanks for looking.

@Amy Lynn Wilke Adding lease back into the contract is fairly common in retail and is certainly an option. As to whether buyers are good with it or not, that would be a question you need to ask your buyers before negotiating such a deal. I'll assume that you have buyers that you know and are working with to find the kinds of properties they want.

For the most part, my buy and hold buyers are okay with this sort of arrangement, but my flippers who need a quick turn around would not be. Some years ago, I did an arrangement like this that suited the buyer well in that he was able to do a slow flip while the leaseback was paying his debt service.

So the answer is that it can be done, but I highly recommend posing the question to your buyers first; they will give you the only answer that really matters.

Hello @Kyler Smith

It has certainly been done before. I have some first hand knowledge: . 

I've also worked directly on a similar project, though it was for a specific type of tennant (Seniors) that included some services as well. 

I can also tell you that there is currently a lot of interest in "affordable housing". I've had an unprecedented number of people lately looking at everything from mobile home parks (which are making a huge comeback) to subdividing land for more density, and even spaces for "tiny homes". So this is definitely an effective model. But as with anything RE, you have to do your due diligence and get your numbers right. In this case, you might want to check county zoning to see if it's permissible (Texas is just about the most landlord friendly place on earth). 

Hope this helps. If nothing else it will sharpen your number crunching skills!

Hi @Marisa Amirian@Marisa Amirian

Great question! I can tell you from long experience that the best wholesalers are those who are not TRYING to wholesale, but rather use it as a tool in their kit. Here's a few options off the top of my head, stream of consciousness, no particular order:

Evaluate and make an offer on the property just as you would do for yourself....in other words, treat it like a property you are seriously interested in. If the offer is accepted, write the contract.

From there you can take it down and resell, or offer the contract for sale. Either option is a wholesaling strategy, and I would likely do the latter. If you made a good deal, selling the contract should not be a problem, and yes, I and many others have successfully sold properties and investment opportunities on BP.

You could also use the search bar at the top. As a pro member, you can do an enhanced member search for the area where the property is. Look through some profiles, send a few messages and get connected with the locals who can make the deal happen. A JV of course as @Bryant Brislin mentioned, or you could act as a bird dog passing the lead on for a fee, or go the distance and find a likely buyer.

So to answer your questions, YES you can successfully list a property on BP. YES, there is a huge market for competitive leads, and YES, you could wholesale it on your own. 

Hey there @Taylor Mosby

Just to tag on to what @Jerryll Noorden has said, I'd like to lace you up that when folks ask you to DM them, it inevitably leads to a sales pitch.

That said, having been there once myself on a shoestring budget, I'd like to offer this insight that changed my thinking quite a bit. I was taught by the folks here on BP that my time was my most valuable asset. Here's an example. You mention $100 as a hard cost for lists and services. But in the same paragraph, 2-4 hours per day for 2 weeks of your TIME. Let's just call that 30 hours. 

At the time I got started, I billed my time at about $25/hour. Simple calculation, 30 (hours) X $25 (per hour)= $750. That (was) the opportunity cost of my time. If we extend that out to a full month, that equates to a $1600 per month budget ($750 x 2 + $100= $1600). Now.....what could you do with a $1600 per month budget? The opportunity cost shows you what you're trading your time for.

Do you want to be a marketer, or a Real Estate Investor? You mention that you're a college student. If you were a Law student learning to become a Lawyer, how many courses would you take in Accounting to learn to manage your income? 

I tell you this to encourage you to begin to highly value your time. Investors who do not "pay" themselves tend to burn out and go out of business. I've seen it first hand dozens of times over.

Hi @Andrew Austin

Mail only to people who have what you want to buy (your crop), where you want buy it (your farm) and the ability to sell it at a steep discount (has plenty of equity, the fertilizer). Mail to as many of them as your budget allows persistently and consistently over time and ask them if they would like to sell their house. There are just so many ways you can do that, but I tend to mail in series with each letter different from, but touching and building on the last.

Then....ANSWER YOUR PHONE. I've been doing this a long time and here are the two main reasons people fail:

1) They give up too soon

2) They do everything they can to avoid talking to the people they're trying to reach. I guess they expect their marketing to work like some sort of vending machine that drops pre wrapped goodies right into their hands every time they plug in a few coins and pull the lever. It does not work that way. It's much more like farming where you plant seeds, nurture and water over time before you get to the harvest that feeds you for a long time.

Lastly....follow up. 25% of my entire business comes from following up with people who tell me "no" the first time. Want to toss 25% of your business? Don't follow up. Keep waiting for the goodie to drop instead of watering and nurturing.

Hope that helps.

Hi @Danny Leyva,

Full disclosure first as requested....yes I do own a direct mail company and have made a lot of money for many on this site without needlessly or shamelessly promoting myself (you're welcome to check my references, previous posts etc.) I've been a wholesaler rehabber and Landlord since 2010 or so, and the marketing just kind of grew out of that, all word of mouth, shout outs from podcasts and such.

But your question about ITI....What I can tell you from visiting their site is that there is not one mention of who they actually are. They choose to remain completely anonymous on their "About Us" page. For me, that's always a red flag. It's something I don't do, something I steer my clients away from doing, etc. If you are going to DO BUSINESS, if money is going to change hands, then knowing and trusting the people you are working with is important.

Anyone can pop up a white label digital to print website. Very few can claim to have successfully done business with hundreds of Biggerpockets folk....BP Nation as @Will Barnard has always called us. I've worked with noobs just getting started all the way up to people who do millions a year, and I've never had a problem attaching my name to it because I want you to know who you're working with.

Hope that helps.

@Jerryll Noorden

Thank you for the insightful response and your kind words. I appreciate it and we're definitely on the same page.

I have to say, I LOVE this line: "Credibility is a fickle little tricky thing" Great alliteration and I will definitely be steal....I mean making use of it. 

I'm in 100% agreement with you about targeting. The term you used "My list is 100% relevant, no exceptions" pretty much encapsulates my method. There is no real mystery or magic to it, no silver bullet. The magic rainbow unicorn list that everyone chases is non existent. But 100% relevancy is not hard to reach if you think your way through it.

While I'm a little sad to hear that your method doesn't offer overnight rapid success, I'm not surprised either and actually a little relieved as I can now skip the kicking of myself. My key takeaways here are that 

1) good SEO is achievable without all the techy mumbo jumbo stuff that people THINK it takes (backlinks, blogging, keyword stuffing etc. etc..the kind of stuff that makes people's eyes glaze over), 

2) that it requires a time investment (likely in the form of good planning and proper execution)

2) that I don't have to be a computer nerd to take advantage of it because

4) there are folks like you who can do it upside down and backwards, so it can be outsourced.

Seems pretty simple now. Thanks for enlightening me! 

So back to the OP, @David Slice it would seem to me that the answer to your question is that the most successful marketing campaigns will be those executed by successful marketers. Outsourcing this piece of your business is one of the most sensible things you can do.

Hi @Jerryll Noorden,

It's been awhile. Sounds like all is still very well with you, I'm glad.

Could you expand on your last post a little? I know we're in a new century and all, but most people's eyes still glaze over trying to conceptualize what SEO actually is, let alone how to implement. You mentioned that it's free, and if I understood you correctly, it's also quick and easy.

I do hope you aren't grouping me in with regurgitating Guru's as I've proven up enough success for myself and my clients for over 10 years now. I'm not an especially popular poster, but I've been around the block and I measure success by ROI just as most do. If you're right, it's time for me to move out of the middle ages and get current. Can you tell me how? We got a step by step here on all the things wrong with the techniques that have earned money time out of mind, and we got a list of benefits for your approach. What we didn't get was just how someone goes about doing what you've done.

Building a list and sending mail is pretty straightforward....how does one build the site do the SEO, etc? How long does it generally take to get some traction? I'd rather be enlightened than beat over the head my friend. Thanks!

Lisa, I don't believe @Eric M. is referring to ruthless speech...no one gets very far in this business being any less than professional at all times. Rather, it's a situational ruthlessness based on the situation. I think he stated this very well: "The honest truth is you are trying to get the better end of the deal against a family who needs the money at this point probably much worse than you do."

The Collins English Dictionary defines "ruthless" as an adjective meaning "showing no mercy; hardhearted". However great you may be to work with, it doesn't change the underlying premise.

@Devin Bost, Here's my from the trenches opinion.

Seems like a no brainer, right? "Sell me your house for what you owe and avoid losing your credit". Sadly, most who find themselves here for roughly 2 general camps:

• Those who are paranoid, thinking EVERYONE knows their business, and believes anyone seeking them out to be a creditor. They HIDE. Hard to find. Do not answer the phone...
  
• And those who have managed to emotionally divorce themselves from the home...."oh.....I'm just going to let the bank have it" They have made up their minds, and have a small measure of peace. They do not want any HOPE dangled in their face.
  

That's been my experience in DFW any way. There are some States where you can get a 30 / 60 / 90 day mortgage late list, and THAT gives you time to do a meaningful campaign. But here in Texas there's only a NOD and what? 28 days later? An auction....In States like this, door knocking is the most effective way to execute this strategy.

@Devin Bost