All Forum Posts by: Joshua Martin

Hey gang, 

 This is about as amateur as a question gets, and I know there's a handful of you direct mailers out there who will simply say 'don't do that. Outsource.' But for those of you who actually print and mail envelopes, is there any efficient way at all to do this? I'm only mailing about 70 letters a week, but those 70 letters are a remarkable waste of time because there seems to be no efficient way to do this!

  I don't want to hand address, but I also don't want to print labels. I want to simply run them through my printer because they look nice and professional, and with this mailing list that's what I'm going for...

  I know, pretty lame question, but anyone's experience could be helpful.

Thanks in advance,

Best,

JTM

Karen DiNapoli Milwaukee could work well for you, but things to put in place before you start doing anything: Boots on the ground - you mentioned a cousin, but you'll need to find out how committed that person is. A contractor - if you don't want to buy retail, you'll need to take on some problems with a property to add value. Either way, this person is good to have. A property management group - get referrals for this! I know there's lots of duds in Milwaukee that won't care for your property, so get some referrals (off BP, for example). A realtor, if you're planning on buying off the MLS and want help with some of the sub markets in any larger metro area. But before anything of that, decide what your particular buy and hold strategy is. Are you a cash flow investor or an equity investor? What is your price point? Do you want to solve headaches? Can you buy cash? What is your risk tolerance? Etc, etc. Let me know if there's any way I can help. Best of luck, JTM

@John Burtle I think licensed contractor is required.

Additionally, I have a local lender who told me yesterday he closed one in 23 days! So it doesn't have to be as long and ugly as people make it sound.

I think it's an awesome plan. Google '203k diary bigger pockets' to read the thread of a guy who bought a four family with this loan, rehabbed the entire thing, added a ton of equity, and now has a cash flowing property in a good area and doesn't pay rent.

A great thread, and you'll also get lots of tips from it that might not have otherwise occurred to you.

My plan is actually almost the same, though I may use city assistance and buy a multi in a margins (read C) area, because there is a lot offered in Milwaukee. Anyways, all by spring.

Best of luck,

JTM

Hey @Carl Brown,

 That, to me, seems like a great play, and I never understand why more people aren't willing to take motivated individuals, help them up front, and then take the lion's share of actual deals done rather than up front fees.

My theory, at least with a good bunch of these real estate coaches, is that they know the people are not motivated enough to put in the work to find a deal or really get anything done.

I would just say if you qualify your candidates well, see that they're already taking action, you'll be able to do well with some of these arrangements and maybe even build some sort of team out of it.

Best of luck,

If you were in the Wisco market I'd like to get in touch!

Best,

JTM

@Rick H.

I'm not sending postcards to the probates. I'm mailing typed professional letters, where I have already incorporated your advice with respect to 'themes.' My second letter describes the condition of the property and their all of a sudden having to take care of it and keep it current, e.g. taxes, mortgage payments, 'not to mention cutting the grass and shoveling the snow,' etc. The next letter I was thinking I was start describing the interior condition of the property and all of the stuff they have to clean out and take care off, then, of course, offer and easy solution.

Although I do have to be honest, while I'll continue mailing the leads I've generated the last three months, I'm considering marketing probates as a realtor who also offers the cash option. There needs to be some competitive advantage, and as I've just learned with the seller I'm dealing with, after my letter (which showed up first), he's received 8 or 10 other letters, all professional style, all basically the same. Something has to stand out amongst the list of potential cash buyers. I mean, would the person even read all of them when he deciphers that after 2 they all say the same thing?!

Best, and thanks for the input,

JTM

Something of an update:

1,000 postcards sent out, large text postcards. 0 responses.

60 probate leads sent: 1 lead, and I just signed the listing contract this evening!

I know we're a community of investors, but listing and selling real estate is still, for me, all about making money to invest.

I'll post any worthwhile updates once I get some calls. I did send this set standard mailing because it saved me like $160, and from what I understand there's much slower delivery on these.

Best,

JTM

@Jordan Scott, maybe? But it's a probate lead so I don't know how an option would play out in this scenario. It actually looks like I'll be listing the property, just got off the phone with the seller. Not a knock out RE deal, but I'll take it!

JTM

Small update (just so everyone doesn't think I've disappeared):

Second mailing went out yesterday (thanks to @Claire Trammell & friends at yellow letters), and my probate mailings are still going out. So far this month 50 probate letters and 1 response, but I'm trying to turn it into a listing because the equity is too low and I don't think anything more creative would work? Or maybe it would?

I'll keep you posted on response rates from the second mailing.

Best,

JTM