All Forum Posts by: Account Closed

This is what really pisses me off with gurus. There is nothing wrong with a $40,000 price point if they were targeting experienced investors or joint venturing with newbies.

If you're doing 10-20 rehabs a year (arbitrary number) and you're looking to scale up to doing 100 a year, then paying $40,000 to an expert consultant to teach you how to get to the next step makes sense in my opinion.

But to prey on newbies and sell them on how this is the best way to start is just disgusting.

This is true for ANY high priced coaching program.

The only $40,000 learning experience that would ever be worth it is a joint venture with a veteran.

Think about it. You can pay $40,000 for a seminar that tells you how to do it, or you can JV with someone and get first hand practical experience. And your $40,000 is actually an investment and should generate profit, or at worst break even.

I've had to record a previous owner's assignment before. It wasn't an issue aside from aggravation and an extra expense. It shouldn't be a deal breaker but I'd call the county clerk and see if they have a problem with you registering both assignments.

No, the course does not help you learn much about real estate. What it does do is teach you about what you can and can't do in terms of contracts, agency etc.

Becoming an agent has a lot of advantages, but the class itself will make you very frustrated and disappointed.

Infusionsoft and the other products mentioned are for CRM / online marketing in general. You mentioned opening a real estate brokerage firm, so typically the website's main goal is to show houses using an IDX provider and making people sign up so you can follow up with them via email and phone.

The other CRM's aren't really designed for that.

Some of the bigger ones are Market Leader, Real Geeks and.. well I guess there's more but I forget what they're called. Just google looking for IDX providers and you'll find the bigger ones.

I'm not sure if you can use market leader's thing if you're not with one of the national firms.

The best of the best websites are custom made but the time and cost involved isn't worth it unless you have a big, established firm. If it was me I'd try Real Geeks as their websites are known to convert a lot. The downside is they host it themselves so you're held hostage.

When I became an agent I made a wordpress website with IDX plugin and the conversion rate was very low, so I started sending traffic to the KW provided website (which they get from market leader) and people started signing up.

To my great surprise, the Market Leader websites (used by KW and some others) are actually good at capturing leads. It's very basic looking but if you send traffic to it people do sign up.

I don't think portfolio managers at banks and lending institutions are GREAT to start, wtf?

"Hello I'm a new note investor, I have no idea what I'm doing but does your bank have delinquent loans you want to sell me?"

The truth is there is no Amazon for notes, really. If you're looking for something like that FCI is the closest (there are others like LoanMLS but I know nothing about them so I can't recommend them).

We don't know your skill level or your resources. But for a beginner, the best bet imo is to buy from smaller note companies that can do a lot of hand holding, or a reputable broker. That's how I and several others got started. There's a huge difference if you have 25k to deploy than if you have a million.

Smaller companies won't give you the best price, however it's in their best interest to sell you something that you can make money with - otherwise you'll never buy from them again. Considering note buyers aren't a dime a dozen, it's in their best interest to cultivate the relationship and not try to screw you over.

Try to tell us more about yourself and what you're looking for and we might be able to guide you in the right direction.

Listen to James, he has it right on the money.

The only thing to add is that the size of your sphere of influence matters a lot when you're starting out. If you have an extensive network of friends, family, business colleagues, neighbors etc to tap into, then you might make decent money in the first year.

If I were you I'd definitively keep the job, for 2 main reasons: real estate isn't glamorous like it is on TV and as James mentioned most people quit, and realistically in the first year you won't be very busy unless you do time intensive stuff such as cold calling / door knocking etc.

Trust me, you don't become a RE agent and all of a sudden the phone starts ringing non stop.

Hey John, why 20k and not 15k or 25k?

I don't know if the investors will go for 20k since the value of the house is a lot higher. If you want I'll pitch it to them but where should I say the money is coming from?

Any offer like this they'll request proof of funds before they commit. Can you email or fax me a statement that shows you have the 20k?

As you mentioned, it's not necessarily a quantitative value, but a qualitative one.

Less curb appeal = harder to sell.

There are a lot of things that are out of your control, for example if someone puts in mobile homes around your house then you're going to suffer from it. Same if you have a neighbor that hoards junk, or beat up old cars etc.