Featuring Andrew Gardner with “Leap Properties“
Investor Closes $11,500 D.M. Deal with Rapport
Andrew Gardner started investing in Houston, Texas a year ago. In his first year he closed 15 deals and currently has 12 under contract (it’s May!). He is in the process of hiring and scaling up his business so he can remove himself from some parts. Currently, he has an acquisition manager.
To achieve that kind of deal flow, Andrew’s marketing volume is about 10,000 pieces per month.
In today’s “Investor Spotlight” case study, we’ll dive into this deal he closed that came from Ballpoint Marketing, and why the seller chose him (even though there were MULTIPLE OFFERS) …
This was a typical single-family home.
The seller was moving to Los Angeles to care for his boyfriend’s mother, who had health issues. She signed with Andrew 2 weeks after they called him from his Retro Americana postcard
Andrew’s exit strategy was to wholesale the property (which he did).
One important feature is that the seller had multiple offers. But she chose Andrew for this particular reason:
Why did the seller choose you?
Andrew – “He loved our acquisition manager and told us that’s why he decided to work with us. Just great rapport and we were able to match the other companies offer (actually gave home another $1k)
Rapport and a good personality win.
There are a lot of investors who do well with a 100% virtual business. And that’s ok, and they do a great job of building rapport over the phone. But there’s something about face-to-face that can’t be beaten.
- Make sure you or the person you hire for acquisitions has a great personality that people can enjoy being around.
- Take the time to get to know the seller and their situation.
- Answer all of the seller’s questions in a timely manner.
Hard to say how many mailers were sent for THIS deal because he doesn’t track that well. But based on his deal flow of 12 deals in 4 months, and 10,000 pieces a month, that’s about 3 deals per month.
- How many mailers were sent for THIS deal: 3,333
- Mailing piece: Retro postcard sequence
- Cost of mailers: about $2,700
- Exit Strategy: Wholesale
- Contract price: $267k
- Strategy for end buyer: Cash flow
- Net Wholesale fee: $11,500
- Marketing ROI: 426%