New Member from Tampa, FL - My Story

New Member from Tampa, FL - My Story

Riverview, FL · Member since 2016 · 4 posts · 1 vote

Hi BP Community! I'm a new investor in the Tampa, FL area. I actually live in Riverview and have been in the Brandon/ Valrico/ Riverview area since 1999. I graduated from Brandon High School in 1999 after attending about 2 months there. My father was in the Army so we moved around a lot growing up. I have lived in Japan, Germany (twice), The Netherlands, North Carolina, and Georgia before moving to Florida. I love it here and don't plan on moving.

I graduated from the University of South Florida in 2005 and have been in the Insurance Industry since then. I am married with 3 daughters (I know, I know)... Our 3rd daughter was born a year ago and my wife stayed home with her for the first 6 months. We attempted to put her in daycare after that but she wasn't adjusting well. At that point, I decided I would quit my job and stay home with the baby and try to work on starting my own business.

My dad passed away last year and left me a little bit of money. I used a lot of that money to take a Real Estate "Guru" course and then the rest has been used for marketing and living expenses. I set up a website and a Google Ads account which has the phone ringing maybe once a week. I also put out Bandit Signs which has led to some people calling as well but nothing has panned out yet. I'm so desperate to make this Real Estate Investing business work, but I'm afraid that I'm failing as I'm still chasing my first deal. We are stressed at home because almost all of my money is now gone and I still haven't made any deals. At this point I don't know what to do. I'm willing to do almost anything to succeed which means splitting profits for experience or doing whatever someone needs me to do so I can get my feet wet and learn this business from someone who is doing it "hands-on."

I'm not asking for a hand-out but if anyone is in my market and can help me or give me some advice I would be forever grateful.

Thank you so much!

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  • Wholesaler/Real Estate Investor/Consultant · indianapolis, IN · Member since 2009 · 265 posts · 51 votes
    10y

    Michael Hi an welcome I see that things are getting hard for you but you will get it have you network with other Wholesalers or went to any Clubs in your area.

    As for me when i started i did it with no money bandit signs which was the brown cardboard an a Black Marker which i got from a friend which i got free the Card boards from stores like family dollar or Walmart, an Plastered them with nails an my trusty hammer to poles also online ads which is free just my time self Promoting an changing my mindset.

  • Robbie ReutzelBusiness Member
    Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
    10y

    Hi @Michael Marzuco

    I totally understand your situation.  Unfortunately it is all too common and although it's probably difficult, you have to keep marketing for at least 6-12 months before you can even begin to know what you don't know and what is working. 

    Keep this in mind.  If you send 1000 postcards a typical response rate is 2-3%.  So if you get 20-30 calls from those postcards (just an example, insert bandit signs or PPC) and you have a very typical 1% close rate you still will most likely get a deal on that first 1000 because you are only likely to get .2-.3 deals from that mailing.  But if you do that month after month, and continue to make touches with decent marketing pieces you should see a deal in 3-4 months possibly sooner but also possibly farther away.  

    It's a simple truth of marketing based on the typical numbers.  The other thing you have to realize is that you probably have not perfected rapport building and asking probing questions.  That is a very under-rated skill which directly affects your closure rate.  

    My point is not to discourage you it is to tell you that you need to cut yourself some slack.  You can't possibly be an expert at this right off the bat.  Most deals are a struggle and happen after 6-12 months of continued contact.  Wholesaling is not easy, in fact it's probably the most difficult investing strategy because it requires you to not get a good deal but an AMAZING deal.  

    Just keep working and keep hustling.  I would also hire a coach but some people feel differently than me on that point.

  • Robbie ReutzelBusiness Member
    Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
    10y

    Sorry, should be "will most likely NOT get a deal on that first 1000"

  • Asheville, NC · Member since 2015 · 83 posts · 19 votes
    10y

    Hello Michael,

    Have you identified what exactly you want to do in real estate such as flipping, buy and hold or wholesaling?  I would narrow it down and then start reading related posts and watching podcasts.  There is a plethora of free, high quality information available on this site including how to invest with little or no money down. 

    https://www.biggerpockets.com/renewsblog/2014/10/16/no-money-down-brandon-turner/

    Good luck getting started, necessity is a powerful motivator. 

  • Riverview, FL · Member since 2016 · 4 posts · 1 vote
    10y

    My initial plan is to wholesale until I can generate some capital needed to rehab. I'd also like to buy and hold eventually. As far as my "day to day" goes, I watch training videos and read posts online and attend REI Meetings monthly. I've tried to network with other wholesalers in my area, but I have to improve my networking/people skills. Sometimes I get caught in my own bubble and shy away from being outgoing. I feel like if I could just get that one deal, it would help me move past this beginners rut. I'm not giving up yet though! Maybe i'll get lucky one way or another... I'll keep you posted

  • Rental Property Investor · Plant City, FL · Member since 2015 · 1k+ posts · 379 votes
    10y
    Michael Marzuco welcome to BP! You're in a great area! There are two Brandon REIA meetings Monday night. TBREIA and Flip Savage. Both great places to learn and network. Look forward to meeting you!
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