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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  • Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
    13y

    Hi David,

    Was just reading up on your posts - any recent updates?

    Thanks,

    Tom

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

    Wow I hadn't realized how long I've been away. I feel like Bill Buckner walking back in to Shea Stadium.

    I've definitely been busy although there was about a 3 week stretch where I hadn't put any letters in the mail. I mailed out 200 late last week and this time I printed out an insert that gives my website, e-mail, and mailing address in case someone doesn't feel comfortable calling.

    I'm very close to closing on a deal, the one I've been working since January. My contractor is going by tomorrow do get me a detailed scope of work. I'm strongly considering rehabbing it vs. wholesaling it.

    I've come to learn just how precious a commodity time is and how hard it is to do anything significant outside of a 45hr/week job. The main reason I've been missing from BP is that posting and reading here is not "the most important thing I could be doing" and I'm trying to make what I've come to call my "Money Time" as productive and focused on my "Money Tasks" as possible.

    I've also moved out my now officially ex-gf, found out my best friend who was moving in is moving 1600 miles back to RI, and prepared for a move of my own that I wasn't expecting. Not to mention slipped on the stairs carrying a couch and fractured a bone spur on my knee that I didn't know I had.

    I'm really trying follow this CD set from Brian Tracy about goals and planning. In my opinion it's the best material I've come across on the subject and it's been working well.

    The basic premise sounds so simple, yet it is so profound. It is to write down your goals daily, make plans to achieve them, and work on your plans every single day.

    There's much more to it than that, but that's the main idea.

    I started getting up at 5am so that I have an hour of money time before work and I make sure the night before I have written my plan for the next day in my notebook that I now carry with me everywhere.

    I'll try to make sure I check in more regularly going forward I know I can make time. I hope you're all doing well!!

  • Rehabber / Flipper · Simi Valley, CA · Member since 2010 · 597 posts · 259 votes
    13y

    David Tower, thanks for checking in and keeping everyone updated!

  • Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
    13y

    @david tower

    great stuff David, keep it coming. Like mentioned, one of the frustrating things here on BP is never finding out the ending of the story. Just from reading through your posts its clear that over the last 3 months or so your mindset has changed and you are gaining steam. Keep it up!

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

    It's 5:30 am and I'm lying in bed thinking. I just realized that I'm being penny wise but pound foolish when it comes to writing letters myself.

    It takes me about 8 hours to complete 200 letters with stamped and stuffed envelopes. My cost is about 60 cents each. Even if I'm saving $100 per week I could just work 3 hours of overtime at my job and make up for it, thus gaining 5 hours of productive time per week.

    I feel stagnant because I'm a slave to these letters and its a constant grind which I don't always complete. I should be using this time to move forward and not saying "someday, once I get a deal or two"

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    13y

    David, instead of sending out just a blast of letters, try targeting yourself with a more narrow focus. I sent out just 6 cards, and got one response. That seems a lot better than 460 letters with 40 responses. (Unless I just had beginner's luck.)

  • Real Estate Investor · Redwood City Bay Area, CA · Member since 2013 · 26 posts · 6 votes
    13y

    Hey David. Take care of yourself. I know what it means to have a full time job and REI after hrs. I spent so much time reading/researching that I pretty much used up all my energy. Take a breather. More ideas come when we are not super tired.

  • Brentwood, CA · Member since 2013 · 3 posts · 0 votes
    13y

    HI David,

    I'm enjoying your story. My partner and I are just starting out here and I have a really basic question which you can answer via PM if you would rather. Where are you getting the leads for your yellow letters? I know there are alot of suggestions on here...but wondering what you are drawing from to get the responses that you are.

    thanks!

    Drew

  • Realtor · Houston, TX · Member since 2013 · 128 posts · 27 votes
    13y

    *bump* How about an update...

  • Chris K.Pro Member
    Investor · Baltimore, MD · Member since 2012 · 1k+ posts · 655 votes
    13y

    Just finished reading from the begininning. Definitely interested in hearing how the first property is fairing out.

  • Horn Lake, MS · Member since 2013 · 31 posts · 3 votes
    13y

    I'm interested in seeing how this goes. Any news?

  • Residential Real Estate Agent · Santa Barbara, CA · Member since 2012 · 233 posts · 45 votes
    13y

    Update us! we are hoping for a success story soon !

  • Investor · dallas, TX · Member since 2010 · 9 posts · 0 votes
    13y

    I am also interested in your progress. Please don't give up..

  • Orlando, FL · Member since 2012 · 22 posts · 1 vote
    13y

    Two months, no update! We aren't going to let you get off that easy, David Tower! Hope everything has been going good and keep your eye on the prize!

  • Wholesaler · Phoenix, AZ · Member since 2013 · 36 posts · 7 votes
    13y

    Good thread to bad we couldnt here about the end but good luck!

  • Investor · Woburn, MA · Member since 2013 · 40 posts · 0 votes
    13y

    I just went to his website (which is still up so that is a good sign) and told him to come update us!
    http://www.davebuysdfw.com/We_buy_ugly_houses_2_2.html

    Tks JD

  • Smyrna, GA · Member since 2013 · 7 posts · 0 votes
    13y

    David Tower I just read your thread in one sitting. We want to hear from you soon bro no matter what.

    Cheers,
    Iyke

  • Davie, FL · Member since 2016 · 18 posts · 4 votes
    9y

    Does anyone one what happened to @David Tower?

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