All Forum Posts by: Josh Reborchick

Hello all, Just purchased a SFH that was an REO. The owners were hoarders and have lived there since it was built in 76’! Had a company come out and said they couldn’t even do it. Any experience in cleaning out 3600sf of trash inside plus property? It’s rancid but the House is worth it. Experience and cost would be greatly appreciated!

thanks Greg and Dave!  I've spent a few summers at the shore in south jersey!  Great times.

Jerred,

Thanks for the connection.  I'll contact them about a mailer campaign.

Josh

Thanks everyone for the responses.  I understand the yellow letter method.  In many of my business classes we discussed calculating the effectiveness of mass marketing mailers.  Just a few questions:

1.  How many are you sending at a time.  100, 500, 5000?

2.  are you changing them up each time or are you sending the same one over and over (ie. look, different color paper, different wording, etc.)

3.  how many rounds of these mailings are you sending to set a meeting and how many of those meetings are leading to an actual sale

4.  What is your favorite source for the list?  Is there a certain sector you are aiming for?  (absentee owners, tax / mortgage delinquencies, etc.)

I really appreciate the BP community any your willingness to share your experiences and knowledge.  It feels as though everyone wants to help and not "hoard" information.  Thanks again!

Josh

welcome to the site.  It's a wealth of information and seems like life:  the more you put into it the more you get out!

hi everyone.  Sorry for delay in responding but the military has owned my life for the past few months.  The link is awesome and I will definitely pass it on to her.  Hope business is good for everyone!

I'm new to the business but have been interested in Real Estate since my uncle gave me rich dad poor dad and the richest man in Babylon almost 20 years ago. Anyway, I was in sales for 3 years between Army stints. I've listened to a lot of the podcasts talking about yellow letters and the such, but I'm also aware that mass marketing has a very low return rate. I just think about how much "junk mail" I toss away without even looking at it. During the 3 years in sales I sold copiers and payroll services for two large companies. They both worked off of the strategy that you had to cold call to get contact information. From there you would make follow up calls. There was a formula that stated that X amount of calls would lead to X amount of appointments which would lead to X amount of sales. I know the average person dislikes rejection. In reality, everyone does. But we would sit around with a few drinks on a friday and talk about who had the worst encounter with a "gate keeper" or the harshest rejection of the week (i've had people tell me to kill myself). I'm not a fan of rejection, but it takes a lot of NO's to get to a YES! With all of this in mind, has anyone tried to use a company like List source to get numbers to dial? The yellow letter mantra is send them out numerous times to a set group and eventually you will get a response. Would this not also work with phone calls? When slinging copiers I would set up a list every day and try to get a little more info about the company from which I was trying to earn their business. I'd write it down and set a follow up reminder in 1-3 months to call them back. Has anyone used this process to get home deals? I've driven around the past 2 days from Austin and Georgetown to Killeen, Harker Heights and the greater Fort Hood area looking at MLS listings. I feel there are no deals on zillow or the like because everyone wants top dollar on their home. Who in their right mind would sell a house for x amount less then what it was worth? I feel that this is also where the noob looks and it's a bunch of people fighting over scraps. I know that the money is made in the purchase price. Just like the corner store that buys the gum at 50 cents and sells it for a dollar, their model doesn't work if they can only buy at 99 cents.

Sorry for rambling.  Just trying to find ways to find true deals.  Any thoughts?

Josh

Scott and Brian, thanks for the response. The Killeen area seems attractive in terms of price, but it also seems overdeveloped. It seems like a 10 year old house will sit on the market Bc there are so many brand new developments to rent. Also, the military is being downsized at the moment. They have given a few thousand captains alone "pink slips" a few grand and a handshake. I don't know the area like you but overproduction and a shrinking renter population seems like a bad combo. The reason I'm thinking Georgetown is the urban sprawl of Austin. Its increasing in price every year (a friend that lives there said every 6 months it seems like a different place) and people that don't want to pay 1200 bucks for a 1 bed studio in Austin are moving to. Just my thoughts without any knowledge on the area. I'm still interested in the meet up to get another's perspective. Ben, I can be a cash investor for a flip but don't want to tie up equity in a hold property. Max in the $80-100k range at the moment. I'm actually driving right now to Killeen airport to figure how long it would take me to get there for work. We really don't want to rent a place but I need to find housing ASAP as I don't want to overstay my welcome with my friend and his wife. The idea was to find a duplex to fix one side and live in the other for the moment then do the live in, fix then flip process. Any ideas? Anyone have any deals they're looking to sell? I'm looking for a realtor at the moment... Thanks again for all of the response guys! I'm looking forward to working with you. Josh

Thanks Dmitriy!  I'm looking forward to it.

I'm not against it, I just don't know the area. I will be working in the Killeen area which is why I'm looking north of Austin. Also, I know Austin is hot but pricing seems slim on the margins as well as competition.