All Forum Posts by: Arthur Garcia

Hey BP!

I would love to get a few great recommendations to help me further along my education in marketing. Please share any books that have helped you craft sales copy, direct mail strategies, direct response pieces, etc. or anything along these lines.

These book so not have to specifically deal Real Estate Investing, I'm just looking for a few reads I can put into my library.

I look forward to hearing what the community has to say....

I know a little about this most of these "virtual wholesalers" are really talking about glorified lease/options. The basic strategy is:

1. find a motivated buyer (someone who can't buy a home, due to credit damage, lack of capital, etc.)

2. Find a FSBO who is willing to let you orchestrate a lease option with a hefty down payment/ move in fee or do a master lease on their property.

3. The tenant buyer moves into the property, pays rent, the wholesaler keeps the "move in fee" or takes a cut from the rent.

4. The tenant buyer can exercise the option to buy when their agreement period comes to an end.

FYI the move-in fee or commission can range from 2500-10K+ depending on the home.

The information to facilitate these transactions can be done via craigslist (FSBOS) and tenant buyers can be marketed to via websites - google ad words, facebook, plentyoffish, etc.

Anyway - I've never done it, but that is pretty much what I understood this to be.

I could be wrong though...so don't kill me (BP members). just passing along what I've heard. I attend too many REIA meetings to not chime in.

AG

Thanks Brandon Turner! I have two words for you Terry Mccasland: DIRECT MAIL!

In a hot market, you have to source your own deals. Find a farm area and market, market and market. You might have to spend 3-6K before landing a deal, but it at least you going to be taking action instead of getting priced out of the market.

AG

Welcome Missy Improta - good to see more CA folks on the site. I look forward to connecting with you.

AG

What about door hangers? They are pretty cheap and work similar to a bandit sign.

I echo Dawn A. point. We just bought a house with a tenant paying $600 a mo. ( market rent is 1100) so she 's got to go. Turns out she just needs help paying for a moving truck. I arranged the reservation and paid for it and I got the property in a great condition! I didn't have to wait 60 days or play any other games.

Welcome to BP Shawn C!

Steve L. pretty much said it all - lol!!

There's a bunch of great investors on here, you'll learn a ton. Don't be afraid to reach out to the community to ask questions even "dumb ones". I've found putting myself out there has helped me shave the learning curve out quite a bit.

All the best!

AG

George Argyris - I would mimic what everyone else has already said. You have a few advantages, IMO.

Given your background at Edward Jones, you can propel those skills sets to success in this business. Skills like: networking, professionally soliciting prospects, marketing, building rapport with clients, etc. are a very useful skill sets, especially when dealing with Homeowners.

IMO, most investors aren't comfortable working directly with sellers. They are either afraid of rejection or getting yelled at.

SOOOO...here is my 2 cents.

Put your 5K (or at least some of it) toward a marketing campaign. Network at a few local REIAs and find a few investors and offer to do marketing for them , in return for profit sharing (10-20% of the net profit or a flat fee) for anything you find. Almost everyone will agree to this.

Find out where they are buying and become an expert in those cities or zip codes. Then farm the heck out of it - mailers, post cards, door hangers, door knocking, etc.

If done property, you can parlay that 5K in larger deals. You may have to learn additional "outside of the box" strategies, but everyone is. Many investors, myself include are trying a bunch of new things to source deals, due to the lack of inventory.

I hope that gives you a few ideas.

Best,

AG

Just my two cents:

1. Name - I'd include the HomeOwner's name in last part of the letter. Something like - Thanks for your time "Dan" or "Dan" you'll have to tell me how you ....

2. Address - I'd also include the street address.

3. lay out - this is how I would do the layout:

Dear ,

I came across your home while driving through the area. It appears to need a little TLC from the outside which drew me to it.

My colleagues and I buy houses that are older that have character, and I feel that your house fits that description. We are in the business of helping people and I'd be glad to help solve your property problems.

me a call at ***-***-**** .

P.S. If anything, you have to call me to tell me how you acquired that Corvette ******** in your driveway, my grandfather used to drive a similar one and I'd like to hear your story on it.

Sincerely,

Sam W. - that is a great point. To that I say, I'll tweak the mailer to once every other week. I think I'm only going to do this for the next 6 weeks so 3 additional letters.

From what the neighbor told me, they are looking to sell. I'm just trying to get in front of them before they decide to list with a realtor.

I figure the worse case scenario, they tell me to stop mailing them. Either way, thanks for bringing up this point.

AG