All Forum Posts by: Ryan Battista

Hey Doug, 

For me, I try to get the sellers approximate price and then gauge their MOTIVATION and TIMEFRAME! This is usually the most important piece of the puzzle!

These older houses will need work. I try to find the as-is market value of the house and offer around 70% of that figure. Also, the price per square foot estimate is B.S in my area. It all depends on the area the house is located. For nicer areas, that number may be 60 per foot. Its not a universal calculation. 

 Hey Doug, I am a wholesaler that likes to do a 'soft' negotiation on the phone. If I get the sense that we may be in the same ballpark, I always book an appointment to meet in person before presenting an offer(assuming the seller is local)

 Teddy, I have not had much luck so far. I just wanted to get the clock started early on my organic ranking which takes I hear takes time. I eventually hope to  drive paid traffic through ppc or Facebook. 

 There is no standard that I know of, if you email me, I can get you copy of the assignment contract that I use. 

 I use Mcmillan, Psaroudis and Markey on Carnegie Blvd. Charlotte. They are awesome.

Hey  April, 

1. all of my free professional time is spent researching, working, educating myself on REI. about 20-25 hours.

2. we are using a handwritten style note on white paper with some kind of corporate branding , check out openlettermarketing .com. for visual examples. This is who I use for these mailers. 

3. I try to mail every list I am working every 12 weeks. I try to mail them 4 unique mail pieces(2 letters, 2 postcards)mixed messages and some branded, some not and then assess the results and response rate adjust from there. If the response is still good we will keep mailing that list on a 3 month interval indefinitely. 

4. About 40k

5. The attorneys will run title search, we will have to assign with a clean title, I am working a deal right now where their is a ton of tax liens against the property and the sale cannot go through unless the owner pays them. 

6. my marketing budget is only direct mail right now.  I want to master one thing and do it really well before branching out to other forms of marketing like ppc or Facebook. We also have a website but have not done much yet to drive traffic there. 

Thanks for the questions, hope this helps. 

JD in the last 12 months we closed 5 deals and 2 more under contract right now. From a financial standpoint our average cost per deal was about 4,200 not including business overhead or paying myself. We average 15k per deal, so net was about 40k. Not as glamorous as people think. I worked ALOT to achieve theses numbers. Keep in mind, I have the benefit of learning this business while I make income from my other established business. I was not concerned with profit per se. Just getting experience and building a HUGE REI company. I understand this is a long game. If I keep the pedal to the metal in 3-5 years I should be able to explode my business. ****important ****Remember things take time and MANY give up before they have a chance at success!

 Hey Brian, to answer your questions, 1. Its hard to quantify because I am literally obsessed with making this business a success. When I am not taking calls, I am planning mailings, running comps, driving neighborhoods, listening to podcasts, etc. So a lot! As with any business the more experience and capital you have, the less work you usually have to do. At first, be prepared to be obsessed with success and put in the work, btw I am writing this at 5am, I have been up planning a huge mailing all night. 

2. We take about 30 calls per deal, on average, most that call are not TRULY motivated and are just fishing for a price. 

 Thanks for the support Kenneth!

 Jay, as I re-read this thread I totally agree. It really is the most important part many ignore, in part because of the guru's telling you to take imperfect action and just send mail or just place bandit signs out.