Winter Park, FL · Member since 2017 · 35 posts · 4 votes
So I've been at this real estate stuff for almost 2 years now and I still have not had any deals yet! I tried wholesaling but Florida seems like a waste of time. Any other recommendations on how to get my foot in the door?
Real Estate Investor · Desoto, TX · Member since 2013 · 560 posts · 528 votes
8y
I am going to take a slightly different approach. Sherman, I say give up! Let me clarify. Something that you are doing is not working and you need to stop it. You say you tried wholesaling in Florida. First of all, how about not wholesaling in "Florida". What about a specific county, city, neighborhoods in Florida that you hammer over and over and over? I believe it is virtually impossible anywhere in America to be doing things right for 2 years and not buy a house at a discount. There has to be something you are doing totally wrong. I am in Dallas, which is highly competitive. I am not even a wholesaler, not a flipper. I am just a dude who buys a few houses here and there while working a full time gig. I don't have huge marketing budget like the big boys. I am not some guru, fast talking salesman. I don't have a magic postcard or letter. Between December and February of this year I closed 4 deals. Kept 2 as rentals and sold 2. The only things I can really say I did was be consistent with my targeted marketing, be authentic with sellers, target a specific area, and leverage the people on my team who have the expertise I don't. I think you need a serious evaluation of what you are doing. I am as regular dude as it gets; other than my great looks, sense of humor, quick wit, ability to smooth talk the ladies, critical thinking skills, sweet jump-shot...My bad, I got lost in myself for a minute. Good luck homie. I know you will figure it out. You already have a key trait....perseverance.
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
8y
@Sherman M. if you have gone two years with no deal, that tells me you were not trying very hard.
You stated that you don't have 2 years track record at a job, because you switched jobs several times. You state that you gave up on being a realtor after not giving it much effort. You gave up on wholesaling.
Oklahoma City, OK · Member since 2017 · 258 posts · 215 votes
8y
Honestly, unlike the others who posted, I'm not going to say don't give up or whatever. If you haven't found a good deal in 2 years, that's your fault. You did not do something, either not enough time spent on the work, enough money on the work, or a combo of both.
I guarantee you there is a deal somewhere around you. If you didn't find it, it's from lack of trying.
Note: if you said 3 months, or even 6 months, I would say something different. But 2 years is too long. It's not the market, it's you
@Sherman McLendon have you tried out www.getprivynow.com? I just started using it about 2 weeks ago and it's sending me solid investor opportunities pretty much everyday.
First, so what? Better to make no deal than a bad one, just for the sake of making one...a deal that is. You're doing fine.
Agreed 100%. I have been living the “bad deal” reality for the last 8 months on some flips and would’ve loved the chance to go back in time and never purchase and/or hired the people that i did in the first place. Would have saved me a whole lot of ongoing stress and money loss. There is no such thing as too much due diligence on the property and the people you plan on working with, remember that. Take your time and be patient getting into the RIGHT deal with the right people.
Honestly, unlike the others who posted, I'm not going to say don't give up or whatever. If you haven't found a good deal in 2 years, that's your fault. You did not do something, either not enough time spent on the work, enough money on the work, or a combo of both.
I guarantee you there is a deal somewhere around you. If you didn't find it, it's from lack of trying.
Note: if you said 3 months, or even 6 months, I would say something different. But 2 years is too long. It's not the market, it's you
You need to work harder or more effectively.
Actually, I would say it's both. It's a combination of him staying in the wrong market.
Winter Park, FL · Member since 2017 · 35 posts · 4 votes
8y
Great points. I admit I may have not been trying hard enough in one particular area but instead bouncing around. I should probably find someone to partner with as well, it can be overwhelming trying to figure everything out on my own. If had to pick one way to find a deal, which way would you guys suggest? Direct mailing?
Great points. I admit I may have not been trying hard enough in one particular area but instead bouncing around. I should probably find someone to partner with as well, it can be overwhelming trying to figure everything out on my own. If had to pick one way to find a deal, which way would you guys suggest? Direct mailing?
I don't use direct mail. The more successful you are at it (replies) the more work you have...and you'll find most of it is useless. So, I believe in the value of my time, since it is the only thing in life that has limits on it. I prefer quality over quantity.
As I said above. I analyze Markets to find my Micro-Markets. Doing it this way, I find most of my deals right off the MLS. You have to have a set of criteria you base your Property Profile on though...and that criteria must be based on your financial "needs".
Summerville, SC · Member since 2018 · 553 posts · 252 votes
8y
Dont give up! Keep this mindset of entrepreneurialism going! Many of the greats failed or had rough starts. Cite Steve Jobs (started in a garage), Quentin Tarentino (never finished high school), and rapper Jay-Z (came from the housing projects of Brooklyn to not only survive, but be a very influential near-billionaire of his industry).
Try different things. Develop a new approach. Talk to other who are beginning to see success.
Rental Property Investor · Atlanta, GA · Member since 2017 · 221 posts · 188 votes
8y
I wanted to add the importance of understanding "Compounding effect". Perhaps no deal now after 2 years but compounded..you have knowledge, some experience etc...and IF and ONLY IF you stick with it...the magic will start to happen. Greatness is a process! Stick with the process and NEVER GIVE UP!
If there's anything I can do to help, please ask and If I dont know, we will find someone who does! BP is a FAMILY!