I could use some advice

13 Replies

I recently started real estate investing, a little under a year ago. Within this time I have only purchased five properties from homeowners. Some say that this is a great start, but I still feel as if I am not reaching out to homeowners as effectively as I could. I have driven the miles, sent yellow letters, left behind door hanger advertisements, posted on Craigslist, used Bandit signs (with no major luck), as well as several other techniques. If anyone else has any ideas to better connect with homeowners, I would really appreciate your advice. 

-Thank You!!

have you thought about investing outside of wholesaling?  what about networking with other investors...attending local REIAs?

Hey Bryan,

Thanks for the response. All the properties that I have purchased weren't really wholesale deals. Purchased, rehabbed, and now collecting monthly rent. I have attended several real estate networking events and still plan on continuing that habit as well. The wholesalers that I happen to run into all gave me overpriced ARv's and under priced rehab bids. So I decided to try the foot work myself to purchase. 

Originally posted by @Simeon Etoria :

Hey Bryan,

Thanks for the response. All the properties that I have purchased weren't really wholesale deals. Purchased, rehabbed, and now collecting monthly rent. I have attended several real estate networking events and still plan on continuing that habit as well. The wholesalers that I happen to run into all gave me overpriced ARv's and under priced rehab bids. So I decided to try the foot work myself to purchase. 

 Simeon,

It sounds like to you are truly off to a great start. Do not be discouraged. What you are going through is common. Just continue to reach out to the market as you have and perhaps implement the following if you haven't done so already;

  • Automate your outreach
  • Reach out to landlords and investors in your target areas. Ask for their soon-to-be divested properties
  • Contact a few agencies and ask to speak with their top performing/selling probate specialist [ Build a strong relationship ].
  • Host a meetup 

I hope this helps.

First off, I think 5 deals on your own in less than a year is a great start! However, if you are looking for other avenues to reach sellers, the only other one that I would recommend is to try reaching out to property management companies in your area and see if they know of any investors that are considering selling.

@Brian Parks

Thanks for the advice and the positive feedback. I really appreciate it and I will also adapt the tips that you mentioned above.

-Thanks

@Rick C.

That's actually a great idea and I'll add that to my daily call list.  Thank you for the advice

-Thanks

@Simeon Etoria

 The more you market, the more deals you will find. @Michael Quarles sends out about 220,000 pieces of mail every month to keep deals coming in every single day. He is far from a new investor but just trying to give you an idea of how crucial direct mail is.

Simeon, 

May I ask how are you buying ? Financing or cash or.... ?

@Cody Alexander

Hey Cody, 

Thanks for the link as well as the advice on how crucial it is to direct market. I was actually paying $0.69 per letter and with that link I will be able to touch more homeowners. 

-Thanks again

5 deals your first year is awesome! Market market market! Send more letters!

Why not start taking properties out of foreclosure.  Start going to your

County court house, pick up a list of all pending properties in foreclosure.

Look up the notes and see what deals you think you can do. Some 

lenders will be easier to work with then ever. but they'd love to have

a credit worthy fellow like you to step up and you help the homeowners

by saving their credit as well. 

@Earl Allen Boek

Quick question.

I have a list of the pre-foreclosure homes as well as the foreclosure homes. Would it not be best to approach the homeowners that are facing pre-foreclosures?

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