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All Forum Posts by: Robert Laird

Robert Laird has started 13 posts and replied 246 times.

Post: What is the point of "following" someone?

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

To be honest Joel I am confused by this aspect as well. I have also noticed that the people I follow, I never get notices about their posts. However, this insight of yours makes me want to follow you.

Cheers,

Rob

Post: Direct Mail Marketing Questions

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Justin,

Congratulations on starting your first direct mail campaign! Direct mail is one of the cheapest and most effective ways to contact motivated sellers. I shall try and answer your questions in order with the best of my ability. 

1. You definitely need a return address so you can eliminate bad addresses, and mail the owners of vacant properties that you get yellow letters back from. We use our business address and after many direct mail campaigns have not had an angry person show up at our office. I would still advise not to use your home address, and if this is all you have, then go for the PO box. 

2. You should definitely think about investing in a good call tracking system. We use Dynamic Interactive personally which helps set-up tracking phone numbers and it records all incoming calls. There are other companies out there that provide similar services so be sure to do your research. However, be careful because depending on what states your getting calls from you may need to have a disclaimer that the conversation is being recorded. In some states it is illegal to record phone conversations with out both parties consent. In terms of keeping leads organized and setting appointments, I would recommend a good CRM like SalesForce (PropertyBase). Its a good way to keep information on multiple properties organized and it is nice because you can export reports in excel format. 

3. I have found that pink envelopes are a little more effective because the people who receive them are especially curious. Therefore, there is a higher likely hood that they open it and call us back. I have not really experimented with other colors other than pink and white, however I am sure any color will have a similar effect as a pink envelope would. 

4. I do not believe there is much difference between first class and standard other than price. Also the time it takes for the mail to get there obviously. 

5. I have heard competitors who draw pictures on the envelopes or letters. I have also heard people spraying the envelope with perfume to get the recipient thinking its from an individual and not a mass mailer. You can also try and include a flyer with a coupon or a "call to action" phrase. You can also try and write urgent on the front or important notice.

I think the criteria for the people you are mailing to is good. However, if your only doing 500 a month maybe up it to 50%+ or 75%+ equity. That way you are sure to get the juiciest leads. Also make sure you are getting good data and list providers. I have ordered lists from multiple different sources and there is a definitive difference in data quality. I hope this helps and good luck on your mailers!

Rob Laird

Post: Looking for a partner

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Jonathan,

Where are you looking to invest and what kind of real estate do you want to invest in?

Rob

Post: Clean out/ trash out business…. Still a good thing?

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Richard,

Do you mean like a trash removal service for people who buy new houses? If so I would check out what @Dennis Adams is doing in Portland. I believe this is the same type of this as your talking about as a "trash out company". Good luck!

http://www.biggerpockets.com/forums/517/topics/158...

Rob Laird

Post: Thought Experiment, $100 in the pocket. What next?

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Walter,

I really like this post, it is a great idea and I am sure people will have different strategies. Personally, if I had only $100 I would spend almost all of it on stamps. With the cell phone I can call anyone and everyone I know to get the word out that I am buying houses. I would then use the internet to try and find as many vacant house lists, expired lists, or tax delinquent lists for free. Then I would write up a generic yellow letter and copy it. Minus the cost of envelopes and paper for the copies, I would spend the rest of the $100 on postage. Then just wait for the calls to come in. I personally believe this is the best strategy for the money. Driving for dollars gets expensive because of the gas. Bandit signs are also more expensive than yellow letters and can be removed do to regulations. Internet ads are cheap, but their effectiveness varies depending on exposure. In terms of directly contacting motivated sellers on a tight budget, mailers is the way I would go. Thanks again for the awesome post and I am excited to see what others have to say!

Rob Laird

Post: Using Google Voice

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Robert,

I would recommend it just because you do not want to be getting calls at all hours of the day and night. Especially since some of the people calling you may not be the nicest or most motivated callers. You may also want to think about in investing in a virtual receptionist for after hours. That way you do not lose any leads. Either way I wouldn't use your personal number for ads. Hope this helps!

Rob Laird

Post: New Member from the Portland, OR / Vancouver, WA Area

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Hey Rod!

Welcome to Bigger Pockets! I am glad you have started to get back into the Real Estate business. I work for a company that does lots of deals in the Portland and Vancouver area so if you ever want to talk shop let me know! 

I personally have experience this trend that you have shown with the graph. Recently I have been putting more of my free time and effort into finding a multifamily in Portland. I have found a couple and have put offers on all of them. I was startled to hear that one quadplex in Ladd's Addition with an asking price of $700,000 that I had put an offer on had received over 20 offers, some with over $800,000 for a first offer!!! Its absolutely crazy right now!!! I feel like I am back in the bay area! It's straight silly!

I do not know what this insane inflation bubble is going to do for the long term, but maybe right now is not the time to buy. Either way I wish you best of luck in the future and if you ever want to talk real estate let me know! 

Rob

Post: Sent out yellow letters and got a call the very next day!

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Hey Eleia!

When those types of callers call in it is almost impossible to give them an offer immediately. I usually just ask them politely for the address and tell them that I need to do some due diligence and that I will call them right back. I also have a "Motivated Seller Questionnaire" that I use to get all the information down and to keep the conversation on track. I usually ask questions like: Whats the address? When did you purchase it? Are you the owner of the property? How much are you looking to get out of the property? Last but not least: Why are you thinking of selling such a beautiful home? I like to ask the last one to see why they are a motivated seller. Don't worry about messing up on your first call, it gets easier every time. Hope this helps!

Rob

Post: Where to find good deals on properties?

Robert LairdPosted
  • Real Estate Broker
  • Portland, OR
  • Posts 288
  • Votes 112

Hey LeMar!

To be honest the best deals are not going to be found on Zillow or Trulia. Most of the time I have found that people put houses up on those sites to get the most money they possibly can. The best deals are when you find people who are motivated to sell, but have not listed yet and are in a tough situation. People who need the cash and are willing to give up the property for it are the best. I would suggest finding vacant homes and then checking them against the county database to find the owners mailing address. Depending on the county you can also see if they are delinquent on their property taxes. These will be the best deals because they have a vacant home just sitting there and they are tight on money because they are not paying taxes. Another good way to find good deals is by mailing high equity owners. Essentially these are people who own the majority of their home and do not have huge loans to pay off. If you can get lists of this information from list providers and then cross reference them to property tax delinquents or probates those are also good leads. The main point here is you want to find the motivated sellers with properties before they become available to everyone else. Many times this means making the first point of contact wether it is a call or direct mail. Hope this helps!

Rob