All Forum Posts by: Chris Tracy

Brad Sumrok is having one on 3/10 & 11.  I'll see you there!

@Jim Cran- How large of a deal are you looking to take down?  A 10 unit or a 100 unit?

What's your goal/vision?  Are you looking to be a syndicator with a big portfolio like @Brian Adams or do you enjoy being a landlord?

What do you mean by "do it on your own"?

@JR Nieman- The best use of Loopnet is not necessarily to buy the properties that are there, but to build relationships with the brokers that are on there.  You could also try Prospect Now for contact info of property owners.  You can do a free trial and you would get 1 county.  If I were you, I would sign up and do Charlotte.  Looking for deals, especially larger ones, is definitely very competitive and a grind so you have to be patient and that's awesome that you're motivated.  It took my group about 6 months before we got our first deal that made sense.

Direct mail is still alive too!  As far as that goes, you just have to be consistent.  You will most likely need to "touch" someone at least 6 times (meaning they see your postcard, talk to you, etc.) before the person is ready to take any action with you, as you have to warm them up and yes, some won't want to sell, but you want to be there if and when they are ready to do so.

If you want to chat, let me know... I have some tips for you that will help combat the not having a track record issue.

@Dennis Johnson- Raising private money is a grind and you basically just need to put the work in and build up your credibility.  It's all about credibility.  

Join your local Chamber of Commerce, The Rotary Club and just go where people that have money hang-out.  

You could also do presentations about how awesome it is to invest in apartments at a conference room, library, etc in your community.  For example- next month I am doing a presentation at a Total Wine in West Hartford, CT.  It's free to get a room for speaking if you are planning on just having a small crowd.  I am going to buy some Facebook ads to drive traffic to that event (recommended here: https://www.biggerpockets.com/renewsblog/biggerpoc...) and people will be able to come, meet me, learn about how we can potentially work together, etc relax and have a little wine! (Total Wine offers free wine tasting)  I plan to do this rinse and repeat and eventually people will tell their friends and I will grow an audience.

You ultimately want to be "the go-to-guy" in your area for investing in real estate.

Start a podcast.

Write a book (it's easier than you think).

Those things will also increase your credibility in the eyes of others.

If you could link up with another well-established group, see how you can add value, and ride their coattails that would help your credibility big time.

Go to real estate investing seminars too like ones held by guys like Brad Sumrock, @Joe Fairless, Dave Lindahl, etc.  There are investors there, as well as people that will sponsor your deals.

There are many ways to overcome the cliche' my friend.

Do some of the options I mentioned take effort and some money? Of course

But how bad do you want it?

And don't overlook this goldmine that you have right in front of you- this forum!

My group tries to buy deals from wholesalers, but it often becomes more work on our end unfortunately...

Pro= 

Someone is bringing you a deal and if done correctly, much of the upfront heavy lifting has been done (research, analysis, etc.)

Con= 

It's challenging to find a true wholesaler that:

1) Actually has a solid deal under contract 

2) Is not just passing along an email from a broker 

3) Is not working with other people along the way- ultimately forming the mysterious "daisy chain"

4) Is not greedy and not asking for an outrageous fee

For those of you that hold meet-ups, seminars, etc- ever buy a list, then do a direct mail campaign? 

If so, what companies/resources did you use and how did things work out for you with respect to getting people to attend your event? 

Thanks!

@Jeff Greenberg- you're attending this correct?

We've been working with them for almost 1 year now.

@David G.- Thank you so much for the kind words!  It's actually under construction and I'm trying to build it out... but I'm glad you like it so far!

I agree with @Percy N.... syndication is the way to go!... And why limit yourself to just North Carolina?