All Forum Posts by: Justin Silverio

I completely disagree with @Ray Lai.  Most DM companies have very competitive rates now.  My recommendation is to find a company that you feel comfortable with and offers quality, effective products.

Open Letter Marketing is the highest quality and most effective direct mail provider for real estate investors.  Our products have proven to be more effective (26.7% more effective to be exact) than yellow letters / unbranded mailers.

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@Don Chambers Everyone builds their companies differently to work for their situations. Personally, I didn't hire an acquisition's manager until I had A LOT of experience talking to sellers. These skills are one of the most important for a REI business and you should hone the skill before hiring someone. For instance, I saw another one of your posts saying that you visited a number of properties but they all wanted close to market value. I don't make a seller appointment unless I know the seller and I are in the same ballpark for price. Learning to scrub sellers for motivation, situation, etc. is extremely important so you don't spend all your time visiting properties. If you don't know a good system, you won't be able to teach someone.

When I hired an acquisitions manager, he was already a top notch salesperson in the startup tech industry.  He received a lot of training and was very polished, however he didn't have real estate experience.  There's a big difference negotiating with someone at a company and a homeowner.  Real Estate is much more personal and situations are much more sensitive.  With all his training, I still had to and still do spend time training him on how he could have said things differently, paused longer, listened to the way the seller is talking in addition to what they are saying, etc.

Just my 2 cents.  By the way, that's great about your response rates!  Keep it up.

My wife is actually an agent, not me.  If the homeowners wants market value then I refer them to an agent.  I don't look to wholetail these properties because it's not worth the time for the amount of $ I'd make.

Thanks for the shout out @Johnny Kang.  Yes, I spend a lot of time on curating my lists and ensure my mailers are unique enough to get noticed.  I only use absentee owners in an attempt to find properties that are on that list as well as my other niche lists.  I don't mail to homeowners who are only absentee because most of my competition is mailing to them as well.  I've found that my top lists are my Super List (properties that are on multiple lists), driving for dollars and my tax liens.

@Michael R. You're not looking at this wrong.  Always try to monetize any lead that comes in.  I have specific RE agents that I work with in each area.  When a lead comes in where they want to sell too much for me to buy, I connect them with an agent.  If the agent gets the listing and makes a sale, they give me 25% of their commission.  The only obstacle for you is that you NEED to have a RE agent license to get that referral fee.  An agent can not give a referral fee to a non-agent.  I hope this helps.

@Jonathan C. I've done a lot of testing and Option 1 provides better results.

The Boston Investors' Networking event is tonight!  I hope to see you there.

keywords: massachusetts, new hampshire, boston, networking

Excellent info @Jonathan C.!  

We have an off-market 2-family deal in Quincy that we're looking to wholesale. The highest and best use for this property would be to either house hack, buy, hold and resell in 3 years due to the value appreciation in the area. However, this deal will also work as a rehab and resell.

We are looking to assign this property to the end buyer. Closing is schedule forJuly 17th.

We will be scheduling a walkthrough in the next week or two. If interested in attending, please let me know. We ask that you do your preliminary due diligence and drive by the property before hand. We're asking that only serious buyers come to the open house. Please keep in mind that we never increase the asking price, the first offer that we receive will get the deal.

Address: 85 Town Hill Street Quincy, MA 02169

Property Type: Two-Family Residence

Living Area: 2,112 square feet (includes lower level)

Lot Size: 0.13 acre (5,876 sq.ft.)

Tenants:Unit 1 will be delivered Vacant; Unit 2 will be delivered with TAW

Current Layout: Unit 1: 3-4BR/1BA, Unit 2: 3-4BR/1BA

Current Condition:The property has had long-term tenants in it for the past few years. It is in rentable condition, although with minor renovations, you can improve the units to get market rent. The units have separate utilities. Heating systems are approx. 10-15 years old. Recent electrical upgrades within the last 5 years. Structurally and mechanically the house is in good condition.

Pictures: https://www.dropbox.com/sh/30ja7vx3um6g3rc/AABtpnsZBxc_40-jfcesiRcNa?dl=0

Deal Analysis: