Stuck In Limbo how do i get out of it

7 Replies

I’m a new investor currently wholesaling i haven’t made my first deal yet , but i feel stuck like I’m grasping for straws and it’s becoming overwhelming I’m not gonna quit but it’s like what is going on , i have enough self awareness in myself to know i could be doing more but since i don’t have a mentor i don’t know what more looks like.

I bought a list from list source of about 363 leads just sent my first DM campaign of 100 yellow letters. So hopefully something comes from that but i hate standing idly when i know there more to be done. I just bought my first house ( oh yeah I'm a 23 year old Veteran ) and i bought with equity about $25K in It and haven't done any work yet i want do the BRRR method with a equity Line of credit but I'm like what can $25K do . I'm just flabbergasted and stuck.

Seeking guidance at this point I’ll pay for mentor because i need the blueprint exact steps to win action taken isn’t the problem for me it’s too much action with no knowledge— HELP

Originally posted by @Kyshawn King :

I’m a new investor currently wholesaling i haven’t made my first deal yet , but i feel stuck like I’m grasping for straws and it’s becoming overwhelming I’m not gonna quit but it’s like what is going on , i have enough self awareness in myself to know i could be doing more but since i don’t have a mentor i don’t know what more looks like.

I bought a list from list source of about 363 leads just sent my first DM campaign of 100 yellow letters. So hopefully something comes from that but i hate standing idly when i know there more to be done. I just bought my first house ( oh yeah I'm a 23 year old Veteran ) and i bought with equity about $25K in It and haven't done any work yet i want do the BRRR method with a equity Line of credit but I'm like what can $25K do . I'm just flabbergasted and stuck.

Seeking guidance at this point I’ll pay for mentor because i need the blueprint exact steps to win action taken isn’t the problem for me it’s too much action with no knowledge— HELP

Usually it takes a few thousand mailers to get the ball rolling or you can do "door knocking" which is actually faster. I don't wholesale but I know there are plenty of people who teach on the subject at youtube. Also, join a local real estate investment group. You can find those with a duckduckgo.com search or contact the National REIA group for list of local groups. By the way, thanks for your service and your desire to better yourself and your country.

Marketing takes time. Even if you were to send a thousand mailers, you would need at least 3 - 5 touches to generate a response. Responses may come in sooner but that rarely happens. You will have to exercise patience and stick to your mailing campaign. Use your free time to follow up your letters with cold calls, text messages, RVM etc. Finding a mentor is also a great way to learn about real estate. You could probably post a wanted ad here on BiggerPockets. As mentioned above, REIA meetings are also good sources of intel.

Good Luck!

I have found the two methods (mailers and list buying) you've started with are not an efficient use of your time, or money.

The lists that are for sale, are usually picked over by at least one (usually more) investors before you.  What you see is what's left over.  The mailers will get you quantity, but not quality...at least not easily separated quality.  You'll be looking for a needle in a haystack of responses.

There are better ways to spend your time, but you have to learn three knowledge basics before you can/should start into the investing side.  All 3 are critical, and all three must work together for each one to be successful:

1 - Market (not property) analysis.  This tells you "Where" to invest.

2 - How Money Works...and I'm not talking about how to do accounting.  This tells you "How" to invest

3 - How to design, and stick to a REI Plan.  This tells you "When" to invest.

Also being able to create leads will give you a huge upper hand vs. buying a list because more likely than not, those list companies have sold them to several others. 

Ways to create your own list..

1)Drive for dollars

2)Door knocking

3)Go to the courthouse and look up probate cases. They're a great source. 

4) Create a funnel page to market to specific areas you want to work in. (This one I the most effective in my opinion.) 

Also... follow up, follow up, follow up. Oh did I mention to follow up?