Newbie in the Sacramento area. Saved up some money ready to start!

8 Replies

Hey BP, Alex here from the Sacramento area looking to speak with any and all investors in the Sacramento area to gain some insight. I've been saving up some money to get started and I'm finally ready. My plan is to get a list from listsource, a very detailed list and use yellowletters.com to send them out. I'm going to use my cell phone for the time being to answer any calls that come in...and that's pretty much where I'm stuck at. Any critique, constructive criticism and advice is greatly appreciated. 

Welcome to BP. My only real advice would be to set up a google voice account instead of your cell phone. Many prospects may think it is a business line and call at all hours. Google voice allows you to screen or forward your calls so it can be much more convenient.

Thanks Ryan, I've been thinking about using Google voice but I've heard that it can be problematic as in the voicemail not coming in or the text not being accurate. Have you experienced these problems?

@Alexander Curtis  

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 80 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Thanks Paul, I will definitely check it all out.

Account Closed I have been using the tools and I'm still going through them but I had one important question about wholesaling. What is the typical cost of getting a home under contract to wholesale it? Also is hard money lending a viable option for this or does their cost make them a bad choice in most wholesaling situations?

Hi Alex,

Welcome to BP , best real estate site to be on. I am next door to you in Roseville

so if you need anything to help let me know.

Good Luck,

Jay

Hi thanks Jack, I actually do have a question. I was listening to a podcast the other day and in it Michael Quarles was saying something to the effect of if you want to make a certain amount wholesaling then you have to spend at least 10% of whatever that number is in marketing. So since I'm just starting I have a goal of closing one deal a month until I'm able to handle more marketing. Does this mean that 500 or so would land me that one deal? I know it varies but does that formula usually work? Thanks in advance.

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