I'm officially in business - My Tale

I'm officially in business - My Tale

Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes

I've finally done it. My first batch of yellow letters went out yesterday. Whoever said that thinking doesn't cure fear but action does was spot on.

I know Greg Smith's thread is popular so I figure people might enjoy another. I'll never live up to Danny Johnson's weekly updates from his earlier days at Flipping Junkie of course.

I am 34 and I joined BP in March of 2011. I started reading and learning about wholesaling but never really gave it my all. I started attending a REIA back in RI where I lived and I knew I wanted to leave corporate America (been working at a mutual fund company for 12 years now) but I always had sub-conscious fears of the unknown,failure, etc. I also joined Sean Terry's Flip2Freedom academy because I love his podcasts. In my opinion, it's well worth it. He's a great guy and I was happy to shake his hand at his Dallas event.

In December of 2011 I moved to Texas as an optional move for work and I let that be a terrible excuse to not take action with real estate. I continued to learn and listen to podcasts and read books and I let that delude myself in to thinking I was doing something. I know now it's because reading another book was easier than getting out of my comfort zone.

noob tip #1 - Don't do that. You don't need to know everything about step #20 to start. You only need to know step #1. If you have a deal, there's plenty of smart people that will help you get it done for a slice.

noob tip #2 - Don't overcomplicate things. Wholesaling really is as simple as finding someone that needs to sell and someone else that wants to buy. The sooner you realize that, the sooner you'll take action.

noob tip #3 - There is NOTHING to be affraid of except perhaps the pain of regret of not ever getting started.

Now, about those books....reading Think and Grow Rich did probably set things in motion for me to really start taking action, but perhaps better than that is a 3 Disc audiobook by Brian Tracy called Goals: How to get everything you want faster than you ever thought possible. It was the best $10 I ever spent. I was also living in,getting out of, and getting over a tough relationship for the past year which was a real momentum killer.

I don't want to write a novel here so I'll end the first installment by thanking all the staff at BP and all the amazing people who give back by contributing and helping the little people. One of my goals is to do the same.

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Beaverton, OR · Member since 2012 · 41 posts · 23 votes
13y
Originally posted by David Tower:
Josh I know you're a podcast guy. Take a listen to episode #27 of REI Mastery with Joe Mccall if you have a few minutes.

Just got done listening to that episode, and I have to say, it drove me NUTS!

"I'm sure the house is sold already, right?"

"Surely the house isn't vacant is it?"

"I'm sure you must have good tenants in there?"

"The house can't be costing you any money, right?"

"How do you feel about this?"
--"That sounds good."
"What?"
--"That sounds good."
"What does that mean?"
--"Um, I'd be interested in getting more information"
"And then"
--"Yeah, I'd like to do that."
"I'm sorry, I couldn't hear you, my hearing aid fell out."
--"Yeah, I'd like to do that, yes"
"Oh, okay, great."

I was actually *annoyed* just by listening to this role play. As someone who's been in sales for quite a while, I am acutely aware of the techniques of using presumptive questions, and making the client repeat themselves. It's just so manipulative and slimy. Early in my sales career I tried these techniques for about a week before giving up. It always seemed to agitate my clients, and sometimes I got the impression that they felt like their intelligence was being insulted. And I feel the same way when others try it on me. But hey, your mileage may vary.

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  • Peoria, AZ · Member since 2012 · 51 posts · 10 votes
    13y

    I too am listening to Sean Terry's podcast, and I still don't know what to think. He gives out a lot of great info but I think he sets the expectation too high of how much money you'll make and how quickly. Maybe that's intended to motivate and raise our vision of what's possible, but I see a lot of new wholesalers here on BP who feel like failures because its been 6 months and they still haven't done a deal.

    As far as the Academy goes, it looks like it's 'closed' from the website: http://flip2freedomacademy.net/now-closed/

    I don't know if this is just a marketing scheme to get our emails and play into 'loss aversion' by making the chance to join the academy seem special. It seems like now he's focused on doing events, his next one being is called 'Extreme Freedom' in Atlanta in February.

    I'm also listening to Real Estate Investing Mastery, which seems to go hand in hand with flip2freedom. And also still don't know what to think of that one either.

  • Wholesaler · Mandeville, LA · Member since 2013 · 15 posts · 0 votes
    13y

    Richard Low I believe he has closed the Academy due to the amount of time he gives to each person who joins. I think I remember him saying he opens it every 6 months and brings in another 50 people. I could be wrong on this. Sounds like David has joined the academy and can better inform us on what exactly goes on inside.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    I'm a bit of Sean Terry ball washer, but I can give an honest assessment. Even Sean will tell you that you don't NEED to join the academy. Honestly his fast start series which I think is #22-#26 of his podcast and his e-book are all free and give LOTS of information.

    I feel that the Academy has gotten better in a lot of ways and worse in others. For example, he now has several experts on staff that hang out on the forums and provide answers to questions, but he himself rarely posts anymore. All in all I wish the pros would provide more answers. When I first joined he was posting every day. The number of members has grown a LOT though so I get it. Also, he's doing a TON of deals 20+ per month.

    The forums within the academy are a lot of men with one eye leading the blind. BP forums are 10000% better. However, his training modules are GREAT and his bi-weekly coaching calls are GREAT.

    I am 100% satisfied with joining flip2freedom. For me, I had irrational fears of getting started and I have no doubt that joining the academy helped me get over those hurdles.

    I think the "closing" of the academy is a marketing tool, but whatever. He's not a sleazeball guru by any means.

    As for people's potential to find massive success quickly, I don't think he's making any wild claims. He tells people how hard it was for him to get going and how he didn't quit when he wanted to. He tells people that "want to try it for 30 days and see if it works" to not even bother. Wholesaling works. Marketing works. The question is if we are willing to really work.

  • Wholesaler · Mandeville, LA · Member since 2013 · 15 posts · 0 votes
    13y

    David Tower Thanks for the information on the Academy. I was contemplating joining when it opened but really haven't given it much definitive thought. I believe you answered all the questions I could have asked that would lead me to joining. I am pretty confident in my ability to walk myself through the process and ask the right questions to the people that will be able to answer them.

    I can't wait too hear about your first successful deal.

  • Real Estate Investor · Forked River, NJ · Member since 2011 · 96 posts · 10 votes
    13y

    Great thread, David! I'm excited to read about your progress. Keep it up!

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    quick update

    calls from first batch of mailings have stopped. 14 total. I'm still working on my potential deal and will talk to the owner again tomorrow.

    I dropped 75 letters on Tuesday I got my first call from them today and dropped another 85 letters today. I think I like the idea of mailing twice per week so the calls are spread out more.

    I'm halfway done building my sellers website. The drag and drop site builder on go daddy is not quite as user friendly as is advertised, but it's going pretty well.

    Also, this hand writing yellow letters by hand thing is getting old fast. I don't mind doing it, it's just time consuming when you work 7:30-4 and also need to write out envelopes, letters, stuff and stamp. I do look forward to the day when I can justify outsourcing.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Second round of mailings didn't produce as many calls but I think I'm up to 21 or so. I'm still working my one promising deal. When I followed up on Friday the woman said "I haven't forgotten about you you'll be the first one I call". I should know more this weekend.

    Also www.DaveBuysDFW.com is now live. I dunno if I'm allowed to post that if I'm not soliciting. I'd be interested in hearing feedback.

  • Beaverton, OR · Member since 2012 · 41 posts · 23 votes
    13y

    The site looks good, I'm jealous, I want one of those.. lol

    One little typo I noticed, "I love helping people and I and"

    Also I just got the email notification that you updated this thread within seconds of hanging up with my own first caller. He wasn't motivated at all, just a nice older gentleman who has good tenants in his rental; we had some fun banter back and forth, he was jokingly asking for 100k above market value. I dropped my first batch in the mail yesterday so hopefully I'll get some more calls tomorrow.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Thanks for the heads up Josh - fixed

    Rather than starting yet another craigslist post, I'm hoping someone with experience can help me. I had an old account that i used for two posts over a year ago. I just created a new account, posted an ad, and as far as I can tell it's immediately ghosted. I cleared my cookies and cache right before logging in, but before i did that I did log in to my old account. I'm wondering that would cause it?

    Do mobile phones have IP addresses also? I'm wondering if i can just log in to multiple accounts with my phone. I watched a video where the gal used firefox and changed the privacy settings.

    Thanks

    also, got a few more calls all tire kickers and a spanish call I referred out.

    **** edit - I'm not ghosted, it just took a few minutes to post

  • Wholesaler · Mandeville, LA · Member since 2013 · 15 posts · 0 votes
    13y

    David Tower The site looks great. I plan on putting a page as well in the coming month. If you don't mind me asking, what are you using for the form generation and info capture?

    Still looking forward to hearing about that first closing.

    edit: I also wanted to ask you if you were strictly wholesaling. The reason I ask is that I didn't notice anything on your site that mentioned it. Mainly on your steps to buying the house you say that you will be closing the deal with them and giving them cash. Is this after you have already marketed to your buyers?

  • Rental Property Investor · Manchester, NH · Member since 2013 · 447 posts · 81 votes
    13y

    Inspirational thread! I am rooting for you!!

  • Glen Allen, VA · Member since 2013 · 134 posts · 23 votes
    13y

    Great thread! Motivation for someone like myself!

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Jason Blanchard The web form, along with everything else on my site was done in Godaddy's website builder. It was supposed to be super easy to use, but it was kind of a pain. If I had to to do it again it would go much smoother. If anyone is planning on using it I'd be happy to share what I learned.

    For now I'll be strictly wholesaling unless I find the perfect deal to take down with hard money. I want to rehab, but not while I have a day job.

    I don't know if this is a loaded question but I'll assume there's no anti-wholesale agenda. The "real buyers" often look down on wholesalers for tying up a property with no intention of actually purchasing (funny they don't mind buying from them though) or some at least think we should tell the seller we intend to assign the contract, but I'm ok with a little white lie or two. If I'm backing out, it's going to be within two weeks and then I can do a flex option.

    Those same people on their high horse (which has been beaten to death) have no problem buying someone's home for 50% of its value so let's not kid ourselves as to the superior moral standards of an anti-wholesaler "real buyer".

  • Involved In Real Estate · Fort Worth, TX · Member since 2012 · 158 posts · 11 votes
    13y

    Hey there neighbor! I am right down the street from you in Saginaw but spend my weekends in Keller. I am targeting the Summerfields and Watauga area for a rehab for myself. So awesome that you have taken the steps and got your marketing out there in the hands of the homeowners were it belongs. I struggled for a long time just reading and reading analyzing things until a few weeks ago I realized i'm not getting any younger lol. It's hard to stay motivated but its so important, I have my days where I am super confident and other days when the little voice behind my head says I can't. David Tower I have my domain for my business and have a little cheap weebly website. It took me 3 months to obtain that domain but I really wanted it and now I need to build a website. I'm not much of a designer but I like your website. How did you do this?

  • Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
    13y

    David Tower, good for you for posting the good and the bad of what you're going through. I read it all with interest even though I have no interest myself in wholesaling. Good job and good luck to you! I'm going to share this thread.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Ann Bellamy Thanks Ann. I'm originally from Dartmouth, MA (near the cape) I hear it's been coooold there =)

    I was thinking after I started this thread if I really should be putting myself out there but I decided I have nothing to hide. I'm not going to "fake it til' I make it" but I WILL "feel until it's real".

    I think this is a combination of getting leverage and accountability on myself as well as upgrading friendships/mastermind principle. Most of the people I know all work at the same corporate-human capital-nothing is ever good enough-waiting to die job so it's hard to connect with them or least be motivated and inspired by them.

    also I had a few more calls come in. One I may be able to get a referral for a realtor friend and one I need to call back tonight. He seems pretty interested though. He is coming from NJ next week and wants to meet and said thank you more than once.

  • Real Estate Investor · Lexington, KY · Member since 2012 · 10 posts · 0 votes
    13y

    Enjoying the thread David. I am in a very similar spot you are in just getting that marketing going and fielding some calls. About to do my second mailing this weekend and looking forward to that first deal. Good luck to you and I will certainly be following the thread as you progress.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Chris Rightmyer Thanks and good luck to you. I've had several people in our position message me and respond so far. I just hope none of us become one of the many people that can be found on page 100+ of this forum who were "SO EXCITED OMG LET'S DO THIS"only to be never heard from again.

  • Real Estate Investor · Lexington, KY · Member since 2012 · 10 posts · 0 votes
    13y

    No doubt. I am refusing to let that happen. Hoping for success sooner than later, but the hardest part is just taking action and following it through to that first deal, which I am striving for every day. With what you are doing and what I am trying to keep myself focused doing, success WILL follow.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    I just realized it's been a while since I've been on BP so I figured I'd give an update.

    As of last Monday I'm now getting up at 5 a.m. I decided over the weekend I'm going to use the extra 90 minutes in the morning to work on marketing and work out. I've been upset with myself because I used to be in the gym 4 days a week before I started marketing and since then I've been a total of once. I'm scheduling myself to go 3 times a week after work and will do a little in the mornings also.

    I've had one setback that was a little deflating but I'm not giving up. I spent all last weekend planning on how I would dominate my craigslist market. I thought I was soooo slick. I had different accounts, different ads, different HTML so I'd have free reign and post 4 times a day blah blah. Well that didn't work. I kept getting blocked. Deleting old posts and reposting didn't work either....blocked. I'll figure something out but I'm not about to keep getting new phone verified accounts.

    I hadn't mailed any YL in over a week, but I dropped 140 over the weekend and will send my final 110 tomorrow or wednesday. My new plan will be to up my output to 200 per week. 100 follow up and 100 from a new list.

    After work I'll be learning about and implementing SEO tactics for my website. I'll probably have to change the site to be more key word friendly. I also need to order business cards and make a plan to contact the people in my circle of influence. (or follow MQ's plan)

    Oh I almost forgot...the deal I've been working is on hold because I can't reach the owner. She is not dodging my calls, she's just not home. I've called different days and different times of day. I think she's either on vacation or back in the hospital. I'm going to send her a card which got me thinking that If I'm working a deal that could last several days or more, I will start sending thank you cards to those prospects.

  • Glen Allen, VA · Member since 2013 · 134 posts · 23 votes
    13y

    David Tower Love this thread. Thanks and please keep us posted on your progress. I am just starting out too and really look forward to reading your posts!

  • Glen Allen, VA · Member since 2013 · 134 posts · 23 votes
    13y

    David Tower Hey David, one more thing...your mailing campaign: are you sending all over the US or just in your area?

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    I knew it! I just spoke with the owner of the deal I've been working for the past few weeks. She was in the hospital but she's doing better. I bet you all thought she was dodging me right?

    Anyway she's going to call me Friday or Saturday and I'll know if we can procede.

    Calls have started to come in from Saturday's mailing. A 3 house package deal where the owner owes a bit too much, two people that weren't interested in selling and one guy who was 10k too high so far.

    I REALLY need to make my next priority organizing everyone that's called and deciding whom to follow up with and who i'll be mailing to again. I need to do a better job getting that info on the phone with them and making notes as soon as I hang up.

  • Real Estate Investor · Keller, TX · Member since 2011 · 118 posts · 39 votes
    13y

    Man, working at an investment company during tax season is energy sapping.

    I'm really trying my best to stay on top of things but I know that I'm not quite at 100% right now. 8.5 hours at my day job of constant (and I mean constant) go go go with 5 people asking me questions, 5 more people instant messaging me questions all while trying to do my own work, no lunch break, etc is the main reason I want financial freedom.

    I did just complete something important that I've been putting off though. I went through and documented everyone that's called me so far and decided who to call/text as follow up.

    numbers so far:

    YL sent- 460
    Responses - 40 or 41
    Deals - zero (still working that one from week 1)
    Also working two separate bird dog possibilities

    Question - Has anyone had any luck mailing to absentee owners in California? I'm considering striking them from my list. It just seems like they all have money and aren't motivated.

  • Midvale, UT · Member since 2013 · 60 posts · 10 votes
    13y

    What an awesome post. I like the accountability of it almost as much as the info. Kudos to you man! I hope we keep getting updates.

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