What Does a Newbie Have to Offer?

Question

I've only been here on BP for a few days and I'm already noticing how many people are looking for mentors and how many people there are who are new to RE investing thinking that it would be great to partner or work with someone more experienced. They're seeking an education, practical, real world, hands on experience.

Yet many feel that they have little to nothing to offer in exchange, and either they don't have the money to pay for a coach or they've been burnt one too many times from late night TV "gurus" and have become cynical to paying cash upfront.

If you're an experienced investor, what could a new investor with little experience or cash offer you? What would you be willing to accept in return for letting someone tag along with you for a day or even possibly partnering up on a deal knowing that they lack experience and knowledge....?

Brian Gibbons · Answer

"The done for you REI" coaching is a trap.  Send out these yellow letters and you'll be rich in a month!

Talking to sellers and buyers and private lenders and jv partners is what the "RE Problem Solver" should be doing all day.

Meet Up Groups work to talk to a group of people in bunches. RTO Buyers, Sellers that cant sell, Get 6% on your money thats now in your CD, etc.

Go give a talk to a Chamber of Commerce or a Lions Group or a Rotary or a Toast Masters.  Topics include Home POwnership in the Dodd Frank Safe Act Era, Appreciation In Our Town for 2014, Making Money Outside of Wall Street in Your IRA or 401(k).

@Kevin Cook, loved your bio, you're my kind of guy.

James Wise · Answer

Those with little to no experience or money can offer Marketing & if local rehab labor

Brian Gibbons · Answer

I do alot of Seller Financing Deals

If the deal is thin in equity, I like a perfect house, no repairs, current in mortgage payment,

and I would want someone to go to FSBos, Landlords, Listed w Realtor houses and Expired Listings and give this report to them

https://www.dropbox.com/s/q5u7fk7b8hv4x6e/SpecialReport-HomeSeller-LP.doc

You do that, find the deal for me, The Seller Signs up (I close the seller) I will take it over the deal, and give you the JV Partner a split of the net proceeds, may be 50 50 maybe 66 34, depends.

Mark Ferguson · Answer

what do you do for a living?  Chances are you are an expert at something. It doesn't have to be real estate related.  Trade knowledge of what you know best for real estate knowledge.

Ned Carey · Answer

@Mark S. You might find this blog post helpful  How to Find a Mentor

Ralph E. · Answer

I LOVE BP...that is all.

Mark Scarola · Answer

That's OK @Jason Fraser, these things happen. At least people are making connections and benefiting from the discussion.

As far as your point about the craigslist ads and raw land, that's a good point that I hadn't thought of. You don't have to be an expert, in this case on land, to make it worth a little bit of your time.

Jason Fraser · Answer

@brian

@Brian Gibbons thanks for letting me use your marketing material and words of encourage.

@Kevin Cook .thanks

@Mark S.  Sorry to hijack your thread. To answer your original question. Depending on what the investor is looking for, you can always pick up the phone and see if the seller is motivated, what the situation is, and what they want and then pass the information to the person.

That's why networking is one if the most important marketing strategies. I met a few guys through my local REIA who invest in land. Land isn't an imeediate interest of mine, but I have Craigslist  ads for land sent to my email. One of the guys told me what to look for so if I come across something worth checking out, I can always inquire  about it and pass it one of them. I can always make a bid dog fee from it is the way I look at it.

Brian Gibbons · Answer

Jason I applaude you for being a go getter!  Yoes you can use that marketing letter, I highly recommend you hand deliver the letter to sellers.

I am happy to assist you in either buying on sub2 or using lease option assignments in Utah!

Just give me a call at 626 318 0599626 318 0599.

Best Wishes,

Brian

Kevin Cook · Answer

@Brian Gibbons I love the idea of working a market that way. Many of us new to the entry assume that our activity makes us investors. Within the industry, the vast majority of us are entrepreneurs... generating interest, capital in exchange for profit. Nothing benefits us more than doing the very thing that makes us the most money... developing relationships with sellers and potential buyers. If we can do that, the rest is just details!!! Keep up the great work, @Jason Frasier and all the best to your success!

What Does a Newbie Have to Offer?

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