All Forum Posts by: Jake Soper
Jake Soper has started 3 posts and replied 201 times.
Post: Yellow letter writers-give me your best script and critique mine
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
You should try non yellow letters. I have a client split testing them right now and he's getting more conversions from the handwritten letters. Hes getting more responses from yellow letters but they're mostly 'remove from list' calls.
Post: What do I do once I find an off-market deal?
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
With letters and postcards, it may help to mention you are looking for a home to live in yourself. Handwrite them yourself until you get tired then call me =)
Post: Off-market is where it's at
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
Yes sir it is! Marketing direct to seller is the name of the game in todays market. If you want a deal that is.
Post: I'm Losing Faith In Wholesaling
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
Originally posted by @Jerryll Noorden:
Originally posted by @Jake Soper:
People should start taking some of their wholesale profits and focus them into rentals or sfh, not just more wholesaler marketing. Then you'll have some cash flow and something to stand on if the wholesaling well dries up.
Jake, your message of cash flow is not wrong, but consider this though as this is an other big mistake people make.
People think that rentals and only rentals is passive cashflow.
That is wrong. VERY wrong.
I am now working (very) hard to automate my flipping business. What do you consider passive income? Or cash flow?
You not having to do anything and get cash flow right?
If I convert every single action I need to take to flip a house and convert that into a step by step system, I can hire people to do that work for me. I hire an acquisition manager, a setter, customer support etc. etc, and the last person I hire is a CEO.
Then I step out, travel the world and am free, while the people that focus on rentals make what... $300/month per door? Well, I make 50K/FLIP! And if I average about 6 flips/month well that is $300,000.00/month.
$300K/month PASSIVE income.
I am not going to start that debate again flipping vs. rentals. That is NOT what I am saying.
All I am saying... passive income doesn't mean HAVING to get rentals. You can absolutely do passive income through flipping (and/or wholesaling) as long as you know how to scale and automate.
And if you think about it...
I had a ton of friends when I just started that were hell bent on rentals.. now 4 years later, they have 6 houses and no liquid money. Me? I have enough money coming in to by 2 houses every month in cash with my own money!
People HAVE to start being smarter when it comes to this business. There are just SO many sheep out there that follow the ancient old rules without question! That is friggin rediculous to me. People look at my success and they are impressed. I always tell them, don't be impressed, be ashamed! I did nothing special other than be smart and have a brain.
If you want to make it in this business stop listening to advice from people that they themselves have not made it yet through a reliable system (not luck).
just my 2 cents
I'm not talking about passive income here, but more of a change in strategy. True passive in REI is rare as we both know.
My suggestion was more for the folks in the last couple years who made their names as wholesalers and never expanded to other investing strategies. Both rentals and wholesaling require hard work, but only one of them leaves you owning an appreciating asset, and the potential for extra cashflow.
With Fix and flip, of course you're going to have more cash on hand than a rental investor. Before and after a job. Not arguing that at all.
Post: I'm Losing Faith In Wholesaling
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
People should start taking some of their wholesale profits and focus them into rentals or sfh, not just more wholesaler marketing. Then you'll have some cash flow and something to stand on if the wholesaling well dries up.
Post: Cold Calls or Direct Mail?
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
They are best used in conjunction. But as solo strategies they have different pros/cons
Cold calling is cheap and easy to get started, but time intensive and manual.
direct mail can be costly, but the leads are passive and don't require your time to generate
Post: Is the hot air finally leaking out of the balloon?
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
if you've been waiting to get into white hot markets like san diego, now is definitely not the time. You'll need to go off market, or bring in a partner with some capital
Post: Acquiring houses in a housing boom
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
Gotta go off market. Learn to build targeted lists of homeowners and market directly to them.
Post: Wholesaling& Licensed Real estate agent strategies
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
A lot of my clients will just put a disclaimer at the bottom of the marketing piece. "I am a licensed agent in CA #2342143 and this is not an attempt to solicit listings" or something to that effect.
Post: Direct mail marketing
- Real Estate Consultant
- Lawrence, MA
- Posts 216
- Votes 157
Originally posted by @Kris Allen:
@Alan Bailey Thank you for your reply. That’s great advice.
So if I have a list of 100-150 properties that I’ve gathered from D4D you’d suggest focusing my marketing budget toward being consistent and mailing those houses multiple times ? Rather than blanketing a certain area….
This is the methodology id suggest when starting out. You don't want to spread yourself too thin if your budget doesn't allow for it. Like Alan said its easy to spend your budget all on one or two mailings, but the game is won in consistency. I'd suggest starting with 200-500 prospects if sending letters, or 1-2k if sending postcards. You'll want to hit them 4-6 times and then analyze your results and adjust strategy accordingly.