All Forum Posts by: Matt C.

@Rachel Rendall We almost bought a house in Fate before we moved in to our second house in Wylie in 09 and that area is crazy too! I have the same regret not keeping our first house in Wylie we built in 04. Of course it was 09 when we sold and bought so seemed like the end of the world! That house that was originally purchased for $150k and sells now for $265. We should have kept it as a rental because it brings about $2,400/month rent (because of very sought after ISD). We would have been cash flowing over a grand a month..

@Rachel Rendall great feedback thank you! On the post boosting one round was to simply get some page likes on my page to add some legitimacy and another round promoting my website. I really just did the website promotion because it’s my understanding you need 1000 hits with your FB pixel to generate re-marketing. I may be wrong on this! I’ve seen the power of re-marketing on FB so that’s a pretty big marketing goal for me. I kind of see it like DM someone may need to see an ad 5 times before they act. 

Lead generation Ads have had a specific CTA. I’ve played around with adding a form through FB ad manager and then just having it redirect to my my website. No clear cut winner yet. I’m doing very simple ads with one pic and a want to explore animation stills and vids. I have added some on instagram as well. 

Wylie market is insane! We’ve lived here since 04 and pretty much everyone’s home values have doubled since. I try to buy here but houses that need complete rehabs still sell in a day or two barely below market value. Severe inventory shortage except new builds and even those are really slowing down. 

@Account Closed good info I actually did my last ad on Instagram as well and will dig into that a little deeper.

Hi Everyone! 

Would love to hear about others experiences with Facebook Marketing. I am marketing to look for motivated sellers for my own flips and rentals not wholesaling as the main focus. So far I am running ads, boosting post and re-marketing website visitors. My ads are pretty simple now usually just a picture and short call to action. Would love any tips on what types of ads have worked best for other investors. I am considering having an explaining video created. My main goal with the ads currently is to drive traffic to my website which in turn allows me to re-market to visitors. I like that you can test several types of ads with a set budget but unless I am missing something Facebook has somewhat limited demographics options for specific target audiences for my goals. Would be extremely grateful for any tips and tricks! 

Great story and inspiring! Thanks for sharing!

Thanks for the replies guys! I am familiar with the the BRRR strategy and that is for sure an option. I will keep an open mind on BRRR opportunities going forward. I'm working on marketing as well to try and buy direct from owners but I know there is a ton of competition for that as well. Luckily I use to sell direct mail and know some pretty good strategies that I will get to dust off and put to use for myself.  

Thank you everyone for your replies it looks like my assumptions are pretty much confirmed. I am going to stick to my numbers and assume I will probably not find my deals through whole sellers. I do have some construction knowledge but starting out I do not want to be behind the eight ball. Looks like I will get to use my marketing and selling skills to find deals. 

@Jeff Erickson Privy looks interesting I will have to check that out more. 

@Ryan Dossey thanks for your comment that is exactly what I’m seeing 80-85% maybe even a little higher. That was really the point of my question if 70% is unrealistic in my area because that’s what it’s looking like. Im ok with adjusting my expectations just wanted to make sure I’m seeing it the right way.

I’m conceding to the fact I’m going to have to work on buying directly from sellers if I want to follow the 70% rule. 

@Russell Brazil thank you sir that’s a very valid point and something I need to consider. My immediate area may not be the most conducive to what I am trying to do. Although I know investors are flipping properties the subject house I mentioned above has a flip on the same street which is where I’m getting a lot of my numbers from as the houses are near identical. I may have to spread out my search though  if I want to reduce competition. 

Hi Everyone!

Complete newbie here working on closing my first deal. I'm looking to fix and flip. As I've been evaluating deals I'm trying to follow the 70% rule. My question is how strictly I should be doing this in the DFW market. Specifically in the areas I am farming the average DOM is 10 days or less. As I'm analyzing deals from whole sellers even using their ARV which I do not really trust it's not possible using the 70% rule so my main question is should I be less conservative considering the market I'm in?

To use just one of the properties I’m looking at as an example it’s AVR is around $165k and $25k in repairs putting my max offer around $90,500. Now if I just work off my desired profit of $20k and factor all cost in I can go up to $95k which is what I’ve offered after my low ball initial offer was rejected. I’m finding out seller wants $110k which just doesn’t leave enough meat on it from my perspective as a newbie investor. That’s fine if the numbers don’t work they don’t work but I’m wondering if a more experienced investor would go for this and settle for a lower profit.