Getting the first deal!?! Where? When? How did you do it?

2 Replies

Im in central Texas and im having a hard time finding/closing deals.. any tips or tricks you all care to share? Im door knocking.. leaving notes. Tracking down vacant home owners.. what am i missing? Do yall recommend buying a foreclosures list? Please help!! Thanks

Its definitely a hustle but don't give up and don't get desperate and jump into a bad deal.

Figure out the level of risk you are willing to assume. If you are willing to take a lot of risk then maybe go after foreclosures but make sure you do ALL the research on the property prior to bidding. Title report, finding photos of interior, recently pulled permits, etc. 

If you want less risk then keep on trucking through door knocking and vacant homeowners. It takes time its never overnight. In the meantime you can be building your team of agents, contractors, materials suppliers so that when you do find a deal you can move quick

When I first started, I did not at all feel confident enough to talk to anyone over the phone, let alone doorknocking where you have to do it face to face. What if they ask about the preliminary note that rolls over into the mortgage with 2 supreme points unicorns butterflies banana.

What the heck would I answer to that?!

And when I started I tried to also not to wing things. I HAD to succeed. Failure was not an option.

Although I knew little what I did know was that f I did cold calling or D4D, or bandit signs I really would set myself up for failure.

Here is why. The power in your first deal comes from KNOWING what ever you did, is no longer a gamble. No longer the tought "am I really doing this right?" Is this really the right way? Is this actually going to produce me a deal. THAT is the biggest problem starting.

So if I was going to drive for dollars or cold calling, how many doors would I have to knock in order to get a deal? 100? 1000?

How would I ever know if I am doing it right? How many doors would I have to knock without success in order to know I am not doing it right? You really are setting yourself up to giving up doing it that way.

So I did the only thing I could do. DMM.

It is a horrible marketing methods in its own, but it is very likely you will get a deal if you do enough mailers.

So that I did.

After my first campaign I got a lead, and made $14K (3 months into starting ).