BiggerPockets

Hey Stepon (and Ed!) Congrats, this sounds awesome! Would you be willing to share some of your strategies for finding deals? Are you using direct mail, door knocking, etc? And are you selling to retail buyers or other investors? People love hearing success stories! Thanks!

Just one question. You said you started with no money. Please share how you purchased all the direct mail, flyers, and bandit signs. I would love to know how you managed this with zero money.

Stephon I like your enthusiasm, and I have to agree that the dollar store is a great place to buy direct mail supplies.

I do have some questions. Who are you targeting with your direct mail, and how did you compile the lists? Also, how are you finding your Cash Buyers?

Hey Leon,

Great questions! Our direct mail letters target owners of distressed and vacant properties. Probates/Estate owners as well. We get our lists from driving around(be economical), probate list at courthouse and my realtors (must have a power team everyone). We mail out the letters using a script on yellow notebook paper, attached our business card, and send away. A new tip from an investor we got was to put a $1 bill inside the envelope(dollar bill showing in window of envelope) and inside a statement saying "there's more where that came from, give me a call!" with your card and letter. Creative and has helped him with good solid leads. Finally we find cash buyers with bandit signs(must use), ghost ads, and REI meetings. GUYS u must go to these meetings!!!! Dont listen to the non believers. Ed and I traveled to Charlotte from Raleigh this morning to attend a $3 meeting and we met 3 CASH buyers looking for wholesalers to work with. Self-explanatory. SEE U at TOP!

You are 100% correct. I send out about 40 letters/wk. Spend about $50 give or take. You'll get about 4 solid leads, 5-10 returns, and the rest no answer. Out of those 4 leads you close 1 deal, profiting 5-10K. Was that $50 investment worth it? Warren Buffet says "focus on the what not the when". Everything takes risk. Don't contemplate, take action. Yiou want to mail out weekly, create a system, so your business and money can work for you

Hey Jon,

Thanks! We've been inc. since 8/23. 3 Deals in first 60 days. Awaiting 2 closings next week and one in December. But that's not enough. 10 Deals before 2013 is the goal. Its fun, its exciting, and its really easy! No money, no credit, just patience and determination is all you need. I never thought I could sell a 300K house with less than $5 in my bank account. Only in America! See U at the TOP!!!

Terrell,

Thanks! Whats going on with the Eagles?

Tracey,

Thanks! I promise we won't stop. See U at the TOP!

Stephon & Ed
RM Equity Investments LLC

Stephon: congrats on a busy and productive 2 months. Loved hearing about your marketing. None of the deals have closed yet, but are days away from closing, correct?

In your OP you say that others will not be successful without bandit signs. If bandit signs are working for you, that's pretty much all you know....that they are working for you in your area. I know a lot of really successful investors, including some in NC and they don't use bandit signs. In some areas, using bandit signs would put you at the top of the list for code enforcement action. It might be helpful to remember what you don't know or can't be sure of when making suggestions to others.

Kristine,

Hey! Thanks for the post. Your right. I totally agree! I know quite a few investors that are very successful without using bandit signs.

We are days closing and we are excited! As far as WHOLESALERS, which we are, I said "don't expect to be successful" not that you can't be". We've met numerous wholesalers and Investors who started in wholesaling and at some point they've ALL used bandit signs. We use all forms of marketing, so I disagree that bandit signs is all we know.

As far as code enforcement, its not really enforced on the weekends, so our signs go out FRIDAY night about midnight-2am, while everyone else is partying, and we pick them up SUNDAY night. So during the week, the "code police" never see our signs. Hope this helps! See u at the TOP!

Stephon & Ed