Not as easy as it seems in the books
Not sure how long it's been, but nothing major has happened yet. I am doing a direct mail campaign to homeowners who have NOD's filed as well as homeowners who have unpaid tax on their homes. I know it's a numbers game, so I am not losing hope, just stating that nothing has developed yet.
On a side note, I thought this would be a joint venture with my wife, but she seems to want to stay on the sidelines and add her comments when its safe and convenient.
How important is a "Web Presence" in this business? I have an email account, but nothing as far as a website or facebook or anything like that. I'm aslo considering an LLC, but the "Peoples Republic of California" wants $800 for some BS reason (TAX) on top of the normal $79 filing fee. The filing fee is no problem, but the $800 annual tax is a little difficult right now. Especially being an annual thing.
Well, time for me to beat the streets!
Talk again soon.
Scott
Comments (6)
Yeap...the real world is a bit harder than the books make it seem. Make sure you focus on something and don't get bogged down in the details trying to run several directions at once. Focus on the items needed to make quality offers on good deals. Websites, bank relationships, etc. will work out over time. You need to tie up good deals to be a real estate investor...focus there first.
Bryan Hancock, almost 15 years ago
You must try bandit signs, they are the best, signwarehouse.com, I believe is the cheapest, or find someone in your local area. There are other ways to make bandit signs as well, the problem that I had with making my own bandit sign was that the wind didn't help out too much(Check out my blog post on bandit signs) Just put a sign out that says "Sell your home now, any area any condition" with your phone number at the major intersections. There are a lot of great youtube videos about bandit signs. When people call I just have a form that I fill out for them and call them back within 24-48 hours. Like Fabrice said look at those sites for other useful resources. There is so much free information out on the internet that it is not necessary to use a mentor, just gather as much information as you feel is possible but don't take too long. You will never actually learn anything until you get out there. Network at RE investor clubs with ppl in your area, I did that and I call them anytime I need help with something
Jivonna B., almost 15 years ago
WOW! Thanks for the input. I haven't tried bandit signs, but I am looking into doing door-hangers and/or yellow letters. I feel frozen sometimes because I don't know what I don't know. I was considering using a mentor, but finding one who is actually a MENTOR instead of a theorist is challenging. Any thoughts on that? Thanks for your help.
Scott Pacheco, almost 15 years ago
Scott, I'm a newbie to wholesaling as well here in the ATL, although I've been a buy and hold investor for a few years. Nonetheless, Jivonna laid out some solid sites you may use for a myriad of resources. For instance I utilized Fiverr.com the other day and received a cash buyer list in my area within 24 hours to start my mailing campaign or even skip tracing in the "good sense" where you may be able to make actual phone calls to prospective buyers and sellers. While searching on Fiverr, I also saw vendors who will indeed set up your WordPress site at minimal cost and I will be seeking to take advantage of this very soon. Posting on sites like Craigslist and Backpage with a call to action on your niche and leave a link to your site where you can get instantaneous leads by capturing their info like name, email, and phone with a widget on your page and have the deals come to you. Peace, Abundance and Blessings!
Fabrice Malette, almost 15 years ago
I am also a "newbie" investor in the Detroit area, I know the markets are different but I will share what I have learned. Internet presence is very important, the latest statistic that I have heard is that 80% of people start their search on the internet. I am not sure what type of investing you are into...can you try some bandit signs? You may have to put them out on the weekends, they can say Sell your home today, cash paid now. You can also try Zillow, do a search only on the "Make me Move" selection, you may be able to find some homeowners who want to sale. Don't be afraid if they price their asking price too high, just give them a call, run some numbers, they're asking price is always like a fantasy or a wish of what they want, we're not genies, we're investors! So run the numbers and have them to back you up when making an offer price. Website is important, Facebook is important as well, to help you out try sites like www.odesk.com or www.fiverr.com, you can find people who will do cheap work for you. Odesk can help you build a website, so can some people on fiverr, Wordpress is good (I hear, I use it) I heard from an investor in my area that wordpress is the best. Then you can't just build a website, you have to let people know that you are there through SEO work, press releases and other things to get your rankings high. Sorry that it was so long, hope that I helped out a little bit :)
Jivonna B., almost 15 years ago
Hey Scott - stay with it. . . there's no quick money when you're first getting started; you need to build up your network. I see that you haven't jumped on our forums yet - I STRONGLY encourage you to introduce yourself there and to get involved in the community. You'll find a TON of support and will get to meet many incredible people who may end up being your future business partners. Get over there . . . Good luck!
Joshua D., almost 15 years ago