All Forum Posts by: Mateusz Prawdzik

@Yavuz Bayram@Patrice Penda Hey guys, connect with me. I would love to help fellow BPers out. I am the best the guy fro the job, I am sure there are other good contractors out there but I actually flip houses and do it for a living so  I know what needs to be and what doesn't. Please DM, so we can talk.

@Antonio Coleman @Jeff Stephens So I have been just recently  been starting to allocate about 10% of the profits I am making from flipping into marketing and expanding my business and name to everyone. I have contacted you J about this, please reach out. On another note, can someone give me their opinion on what I am doing... So I am handwriting my company name and return address, using my own stamps, regular flop top envelopes and stamping the mailing address.

The letter itself says this... 

"Dear _______________:

My name is Mateusz Prawdzik but you can call me Matt. I am a Real Estate investor in your area and am writing to you about your property
"HomeAddressComplete"
As I would be interested in purchasing the property from you. With that being said, I am an investor, so I do not pay retail prices but I my offers are 100% CASH. I am not a realtor trying to list your property and make a commission, I buy the property OUTRIGHT.
I buy AS-IS condition, ANY situation, ANY location, and can close in LESS THAN TWO WEEKS.
I pay ALL closing costs, with NO out of pocket expenses for you.
I would love to speak to you about to opportunity and so you can get to know what I do and how I do it a little better. I consider all my clients to be family and treat them with the utmost respect and care.
If you or anyone you know is considering selling their home, please give me a call. I will answer any questions you may have.
I am also offering a $500 moving reward for calling within 2 weeks so don't wait.
Hope to hear from you soon

Sincerely,

Signature" (The signature is my penned signature and my name and company.)

I am sealing and doing everything myself. I did the math.. it is costing me about 58 cents including the ink and paper to print and do this all on my own. I have a friend that helps me do it for 50 bucks for every 200 letters and I do 200 a week. So with 400 being mailed a week it costs me about $282 a week. If, I don't tell my friend to help and I only do 200 a week, it comes out to $116. Is the response rate good enough in your experience to be spending 400 dollars month on marketing?

If you guys can let me know what you think about this, I would greatly appreciate it, it would mean a lot. Do you suggest doing this or going to post cards? What is the typical response rate for something like this? Should I change the letter? 

@Orkeem Davis If you are not a builder and don't know how a roofing process works and what it needs, have the company get you the materials. If you have a sense of how it works and what you need, get it yourself and deal with it because you will save money. With that being said, a roof that needs to be ripped off and no new plywood needed, usually takes 3 days. If it has a flat roof, DON'T USE SHINGLES. It's called Liberty Roofing material (either torch top or stick top.) Torch top will be cheaper for material but the labor is more expensive because these guys are getting comfortable and don't want to deal with the torch.. Stick top is more expensive and make sure to bargain with the guy that is doing it because he should give you a cheaper price for it. 

Continuing on that, I get my roofing material for $70/SQUARE, don't mistake this for SQFT, roofing and siding is counted in squares not SQUARE FEET. and the labor should cost about $60-75 dollars a square also. 

I just realized that you are in englewood, let's connect.. let me come and take a look at it and I will talk to my guys and get the job done for you. Don't forget about dumpsters and permits, if you do everything yourself, you have to take care of that. Connect with me, I'm right next to you. 

@Mike Salisbury@Foma Okosi@Uriah D. Hey guys, nice to meet you. Though I wouldn't consider my self a builder as I have only dealt mainly with add-a-levels and not much with foundation (because in my area of business adding a level is the best way to add value) I have done 2 new constructions. 

3 Southward Ct, Chatham NJ 

1 Florence Drive, Clark 

The Clark house that was an addition with foundation to it on the whole left side of the property. 

I would be glad to answer any questions that you have in regards to building. With that being said, NJ is A LOT different than anywhere else... so I will warn you when you ask. But as far as the building aspect goes, it's the same. Keep the questions coming, I am all ears.

@Scott Howell It's whatever you want to be... Passive or Active. Now with that being said, flipping doesn't always have to active but it is definitely more active. I manage my own jobs and don't hire a GC to do the work because no one does a better job than myself, so I am active. But if you want to rehab and just sit back and watch the income come in slowly then you do buy and holds. I suggest doing a flip first because it shows you the ins and outs of the business especially dealing with contractors and your exit strategy is a sell where you get a chunk of money so that you can invest it into another property, where a single rental doesn't have much of enough cash flow to do anything. But then again you can refinance and get your DP back and some. So it is really your choice... I did flip but now I am starting to look for a single rental to see how I like dealing with those.

@Stephen J. Miller Sounds like to me you're on the right track, to add to your list, another thing you need is a deal, because without a deal, you can't make money. Your goals are ambition and they are long term goals but I would start small and try to turn that 10k to 20k. I always thought that anything that had to do with money was a doubling game. One double at a time, don't try to double to fast because you'll end up losing a double. Where you are in life, you are just 10 doubles away from 1m, thinking it about it that way, you're not that far at all. 

What kind of investing are you trying to do? Passive? Active? If passive, I would find an experienced investor and let him give you an ROI. If you are trying to manage the jobs and be active, then all you need is a good deal and that 10k. If you choose option one, I am always looking to expand my circle of Private lenders as I grow my business. I try to teach as much as possible and answer as many questions as I can. Active investing is more experience but I jumped in feet first about 10 months ago and now I'm doing my 8th flip.

If you have any questions, let's connect. Maybe we can do some business together. 

@Jacob Ansbacher @Sandi Hague@Dave ClausonOHHHH don't even get me started... Ok, so my first ever flip, the water line was busted and the sewer line was busted too. I bought the insurance coverage for it (it's called American Water Resource over in NJ), it was the biggest PINTA ever. It took 3 months for them to tell that there was something wrong with my water line... they didn't even fix it... they said that it wasn't broken that it was clogged. I had to fix it myself by getting 3 guys to come dig it up and then a plumber had to abandon the old line, drill a new hole into the foundation and damage the sheetrock and put a new water service (cost me about 1600 total). Now the house was already finished and about to be put on the market and this pushed me back about 3 months, but then again I'm the idiot that didn't test the water until the very end when I should of turned the water on the street the second day I got the house..

But long story short, when it comes to insurance... Taking money from you, they will hound you until they die. Giving money back to fix a problem (even after you pay for the insurance), they will slap you around and tell you there is no problem on their side even though there clearly is a problem. They will go back and forth with you and if you don't push them, they won't do anything. I spent 3 months fighting a unwinnable battle when I finally decided the time is way more worth than $1600. This was a good learning experience for sure, and I'm glad you brought this up because I wanted to tell this story to everyone so they know what to expect.

You need to dig a 3 ft x 6 foot hole in order to fix this problem. Depending on the length of the yard, I would hire 3 guys to dig for you and get a plumber to fix the problem. Pipe Splitting or whatever it is called is going to run you about $1000 more but it's less digging.

I am attaching a picture of what it looked it. 

@Debbie Farrell Hey Debbie, I am a flipper in NJ. What are some projects that you have done and are holding now? How long have you been in the business? What kind of lender are you guys? Do you guys lend out of state? I am always looking to connect with others and learn from them and teach as well. Do you hire a  GC on your jobs or do you sub out the work. I am relatively new to the business (10months) but I remember when I bought my first house back in November, I would never have thought that I would be doing 8 flips this year. In this business networking is key, hopefully we can do some business together.

@JP A. @Michael Lee Hey Nice to meet up guys, would love to connect and chat some time. Not too long ago I was a novice , didn't even know what wholesaling was and this was around 10  months ago. Now I'm on my 9th flip in that time period and I am proud of the fact that I moved up the ladder so fast. I am trying to make marketing and branding my name and business a priority now as I expand . I hope you guys can grow with me and join my team. I would love to answer any questions that you may have or give advice anywhere i can.