Getting leads that are going NOWHERE!

9 Replies

BP, I'm stuck. I have been getting leads on vacant properties and motivated sellers. Two problems: 1)The leads aren't in great areas of Atlanta. 2) Because of #1, my private money (dad) won't invest. 

I'm so frustrated! Do I buy more expensive properties (80,000+, no more than 20 yrs old) to appease the money man, or should I keep considering buying in the C areas and find some private money somewhere else? 

I'm planning to buy and hold by the way.

I'm not an experienced REI yet but I would like to offer advice on the power of positive thinking.

Everything happens for a reason.

Reading your post...the biggest thing that jumped out at me "my private money (dad)" is an AMAZING thing in my opinion. Sounds like you have good support to help you reach your goal.

You are a winner! No doubt! You strike me as someone who is going to go very far with the right mental approach.

If you are not already, I hope you don't mind me sharing...I would recommend always be feeding positive mental "stuff" into your mind. All the time, daily. It will go a LONG way.

If you are, my apologies (in advance) for assuming you are not.

I know what you are feeling. As a newbie...I'm losing sleep thinking...when will I get and close my first business transaction in REI. I don't feel frustration but I do feel anxiousness. I have that little burning feeling in my stomach with excitement as I do see it happening for me.

Make it a GREAT day :-)

Manny

Make your own leads. Since it appears your father and you are close how about the two of you have quality time by driving to an area he may consider investing in, park, and go for a walk. Find houses that look like potentials motivated sellers.  This way you can talk with your father about your investment plan while he can see first hand to bless of on it, all while getting exercise. 

 @Manny Rodriguez :

Everything you said was absolutely correct. I know that I am blessed to have parents that believe in me and are willing to help with cash and / credit if I need. My problem is that I am dependent on his approval, and he doesn't understand my vision. That is where the frustration comes in. I'm not giving up though. Thanks for the morale booster! !

I am sure if you take your father on walks looking for houses to buy, he may see your dedication and feel more confident investing in you. 

Originally posted by @Brian Ky :

Make your own leads. Since it appears your father and you are close how about the two of you have quality time by driving to an area he may consider investing in, park, and go for a walk. Find houses that look like potentials motivated sellers.  This way you can talk with your father about your investment plan while he can see first hand to bless of on it, all while getting exercise. 

 Brian, I would enjoy doing that with him. He lives out of the country, so our house hunt time will end very shortly when he goes back home :( Will keep at it though. Thanks!

If you're private lenders won't loan in those areas, it makes sense to move up a price point. Quite frankly, it's tough to manage and/or sell properties in rough areas, especially for newer investors. So I would probably recommend moving up a price point regardless.

Medium apartment logoAndrew Syrios, Stewardship Investments | http://www.StewardshipProperties.com | Podcast Guest on Show #121

Originally posted by @Andrew Syrios :

If you're private lenders won't loan in those areas, it makes sense to move up a price point. Quite frankly, it's tough to manage and/or sell properties in rough areas, especially for newer investors. So I would probably recommend moving up a price point regardless.

 Thanks for the advice Andrew. That's a great point!

When my brother and I started investing we didn't hesitate to work areas that were going down hill, we remembered how great they once were and wanted to revive them. Well we found out that was like trying to empty the ocean with a bucket and soon adopted our foundation policy of bread and butter properties or better. Suggest if your going to buy and hold you ask what is it that will you be holding down the road? On the farm we called that buying a dead horse, one just about ready for the glue factory. Let the glue factory be the buyer, not you.

@Brian P.

That was exactly what I needed to hear (read). I am always trying to see the potential in things, people, etc. and that may have caused my early demise in REI. Thanks for bringing it home for me. The other posters had already convinced me to raise my price point in the house hunt, but you definitely sealed the deal.

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