Hi everyone, I am bird dogging for some investors to learn the ropes and have about $200 more or less to spend on marketing. I understand that this is a very little amount but that's all I can make do for now since I'm a beginner and if I mess up I don't want to get messed up. I'm also very young and can't be blowing off lots of money. Well anyways, how would you guys go about my situation in your shoes for marketing, specifically direct mailing. Would you buy lists off of places like listsource, then have a company send out some letters? Or would you do another way? By the way, I have some properties as well from public records too, and I don't have good handwriting. So if you were in my shoes what would you do with about $200 for direct mail marketing?
I would get a paid assistant job.. so they are paying you for your time and services.. what you describe is a dead end 99% of the time.
@Jay Hinrichs what should I do then? I'm only a teenager, and the investors said this is all that they would let me do, they will pay me when I get them the deal. What is you advice on what I should do? Also what exactly would you do in a paid assistant job?
sounds like they are just going to use and abuse you.. pretty common.. study for your real estate license if your not yet 18 then not much you can do.
get your license and then hire on to a big team.. they will share revenue with the entire team.. you actually learn the trade.. other than Hey go pound on doors bring me a deal so I can make 50k and I will be so kind as to give you 1k for all your work.. this is one thing that irks me at REIAs all these folks coming off like they are mentors when in fact they are just looking for free help and could really care less about your long term success.
@Jay Hinrichs I never thought of it like that. Thanks for the help! I'm only 14 though, I'm going to be 15 in a couple of months, Is there anything I can do? I am trying to get an internship over the summer as well, what do you think about this?
But do you really think these people are actually abusing me, because won't I be getting experience as well as money?
well first off your quite mature for 14 to even be on this site and thinking real estate..
given that scenario .. then yes follow along and let them train you.. cant hurt ..
I sold fuller brush door to door at your age.. and that was fun.
keep at it.. pretty awesome really your on this site like I said.. you will be fine.
They aren’t abusing you in the traditional sense, but they could easily be taking advantage of you.
Let’s say you find a great deal. It’s a house that you can buy for 50k and it’s worth 100k, after 15-20k repairs. So the person you give this deal too would probably make 20k and give you 1-2k.
That sounds good but to find this one deal will take you hours and hours. You do all the hard work and they make most of the money.
@Jay Hinrichs since you think my situation is fine, what do (marketing wise) you think I can do with $200?
I would not spend any money at your age.. keep saving it up so you can purchase your real estate license course.. get your license go work for commercial broker work your self up over a 10 to 20 year period until your selling 50 to 1 billion dollar high rises in NYC that's what your goal should be if U like Real estate you will work with the movers and shakers in the industry.. U will need at the same time to get some college in you as well.
@Michael Kantar I wish I was on this site at 14 years old. You're already way ahead of all of us.
Develop a relationship with an investor you like, trust and who is reputable in your community. Go to the local real estate investor meetups and talk to the investors. It's a delicate balance. Investors who have good businesses are asked many times for people to "mentor" them.
The thing is these people will take an hour or two or four of the investor's time and not take any action. So the investor kind of wasted their time... You need to show them that you're not one of those people who just take knowledge and don't do anything with it. If they ask you to do something, make sure you actually do it and provide value to them. If you keep at it then they'll see you're not wasting their time and probably will try to help you.
I wouldn't spend $200. If you are already bird dogging, only do this in safe neighborhood, you can door knock and ask the person there if they own the house and if so are they interested in selling. Talk to the neighbors if the seller doesn't live there or it's vacant. Ask them if they know the owner of the house and see if you can get their number. I'd still suggest having a seasoned investor guide you through this at your age.
@Jay Hinrichs @Arianne L. If I don't spend any money how will I get to the motivated buyers. I can't drive for dollars because I don't drive yet. So what should I do? Also I wouldn't want to be a real estate agent my whole career, probably in the beginning to just to learn, but after that I'd like to get into investing full time.
Also how can I do what these investors are asking me without spending any money? I trust them and believe that they are good, and want to build good relationships with them.
Here is a link to a thread that lists lots of different ways to find leads. For anything where you want to contact the owner, but they don't live there, you can google your county tax assessor's office. Most have an online search where you put in the address and it tells you the name and address of the owner.
I agree that traditional direct mail might not be a good option for you because you send out a ton of them with very few responses (folks often consider it junk mail) and you often only get a response after you've mailed to them 3-6 times. You don't have the money for all that.
Good luck and congratulations getting such an early start on your career!
@Michael Kantar In my earlier post I mentioned going to a house (potentially one that looks like there is a lot of deferred maintenance like old roof, tall weeds, bad siding, etc.) then knocking on the door and talking to the occupant (this will either be the seller, a tenant, or it'll be vacant). You can also knock on the neighbor's doors and talk to them and ask for the owner's contact info. Only do this in safe neighborhoods. That's pretty much free.
You can also go through craigslist and call all the for sale by owners and for rent by owners.
Anyway, I do suggest finding a mentor. I gave you some good first steps but you'll have 100 questions after that. Find a local mentor who can help you along the way. You might have to give up, say, 50% of the deal when you find one. But 50% of something is better than 100% of nothing.
Go on VistaPrints.com, make a business card that explains who you are and what you do ( I buy houses, cash offers). Take the cards and start getting them to all the home owners and motivated Sellers’s you can. Search the county gis website for owners names and addresses. Mail your business card to them, take your card to them, get your card in there hands. Should be able to get a 300-500 cards for $30-40
Since you can't drive yet, what about biking for dollars? Also, if you're going somewhere with someone and see a vacant looking place, see if they'll stop a minute while you get the address. I have a brain injury from Iraq and can't drive, but I take Uber. Though I don't plan on investing in my current town, assuming I move next year, I'll be investing there and can simply explain to my Uber driver ahead of time what's going on and I'm sure they'll be happy to pause moment. Hopefully, your parents or whoever drives you places will, too. :-)
I can't do the driving or biking for dollars, my neighborhood is too big, I don't have enough time balancing out the many things I already do, some investors that I work for would be too far to bike to. So possibly Craigslist and facebook can work for me. Are there any other suggestions that you guys have that costs no money?
Tony Conway what is the county gis site? Is it the same thing as the counties vacant property list or is it something else?
Tony Conway for these business cards would I just mail the business card alone to the homes? Would this be cheaper than yellow letters?
Here’s some advice from a 20 year old who is kind of dealing with the same situation as you. Just because you are dealing with an adult, do not exceed the respect you give them, otherwise, you will get taken advantage of. Be firm with what you’re trying to accomplish with them. If you feel like you’re getting cheated, speak up. You’ve clearly shown you are mature and intrigued, age means nothing.
Thanks @Ibrahim Elzaim can I pm you so we can talk some more about what you do and what I do. Maybe we can do something together one day, who knows!
Gas money on driving for dollars or the the 50 house rule.
@Ian Walsh I can't drive yet unfortunately because I'm too young. Also what is the 50 house rule?
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