Wanted to get the creative juices flowing with the following thought experiment:
You have a cell phone. computer with internet access, and $100 in your pocket. Your goal is to find motivated sellers and buyers. What do you do? How do you go about it? Why?
I really like this post, it is a great idea and I am sure people will have different strategies. Personally, if I had only $100 I would spend almost all of it on stamps. With the cell phone I can call anyone and everyone I know to get the word out that I am buying houses. I would then use the internet to try and find as many vacant house lists, expired lists, or tax delinquent lists for free. Then I would write up a generic yellow letter and copy it. Minus the cost of envelopes and paper for the copies, I would spend the rest of the $100 on postage. Then just wait for the calls to come in. I personally believe this is the best strategy for the money. Driving for dollars gets expensive because of the gas. Bandit signs are also more expensive than yellow letters and can be removed do to regulations. Internet ads are cheap, but their effectiveness varies depending on exposure. In terms of directly contacting motivated sellers on a tight budget, mailers is the way I would go. Thanks again for the awesome post and I am excited to see what others have to say!
Use my cell phone to set up lunch with the most successful real estate investor I can find and pick his brain. Ask if he has passed over any deals recently, because he is too busy, that might be suitable for a beginner? (I'm assuming beginner - because I only have $100). I would offer him my computer with internet access in exchange for a deal or maybe a JV!
@Robert Laird Thank you for the kind words. I am excited to see what others would do in this situation, because there are tons of new investors (myself included) that would benefit to see how, what, and why experience investors would tackle this situation.
@Mark Freeman , well played sir! That would be one heck of a ROI on that computer!!!
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