Featuring Ed Neuhaus at Neuhaus Realty
STR bought on 4% Interest
Ed Neuhaus has been a broker in Texas for 14 years (he’s closed 900 properties as a broker TD).
He started investing in 2014 buying a few rentals in San Antonio.
But this year, he tried out Ballpoint Marketing letters and grabbed himself a short-term rental to add to his portfolio…
He’s also a proud father, husband, and spends his free time as a pilot.
The Seller and the Deal
The seller contacted Ed from his Greeting Letter, in Wimberley TX. He needed to sell quickly so that he can re-locate to the coast.
Here’s what Ed said about the seller:
“The best part is the seller took me to breakfast this morning and told me about all his neighbors and friends who want to sell. Those may not be good purchases for me, but I can always be their broker.”
The house is a nice little cabin with a couple of acres. It fits well into Ed’s STR portfolio. He arranged a 5 year note to buy it, with 4% interest. 5 years gives him plenty of time to let rates climb down before a cash out (a long term Brrrr).
Sellers love handwriting!
Ed said this about the seller:
The seller told me they get letters all the time but because I “hand wrote” him a card he called me back, and move forward with me.
- How many mailers were sent: 2,500
- The list: Absentee list with equity
- Mailing piece: Greeting letter
- Cost of mailers: about $4,000
- 12-month ROI (From Marketing $$ and cashflow): 3,200%
- Purchase Price: $360,000
- As-is value: $550,000
- Rehab: $40k
- Monthly cash flow: $1,500-$2,000
- Loan terms: 20% down, 4% rate, 5 years.
- Exit Strategy: 1-2 years cash out to pay off loan
Check out our NEW Commercial Letter
(with real highlighting to grab attention):