All Forum Posts by: Dev Horn

I don't know "the" answer Christopher Willett - it could be that you could find a deal or two in the next 6 months and that could be great for you financially. So I don't want to discourage you.

But from a marketing strategy standpoint, it takes about 6 months to really get your marketing engine going. Why? Because we have to touch (most) people 5 to 7 times before the remember us and trust us enough to contact us. Let's say your using direct mail, bandit signs, whatever - if you can touch people once a month with your offer, in a memorable way... then in about 6 months you'd really have developed good awareness in your target audience.

SOOOO... you could end up just getting the marketing working for you about the time you move back to VA! But hey, if you scored a deal or two during that time, you may have no problem with that.

BTW, thank you for your service to our country. I am super proud of our military. God bless you.

Hey guys. One of the biggest challenges in this market is FINDING motivated sellers. I like to say "you may be able to buy a house with no money, but marketing is definitely not free." You'll find that to have a sustainable business with repeatable income requires a consistent monthly investment in marketing (or working directly with people who are doing the marketing - i.e., wholesalers; but there is a lot more to gain when YOU find the deals). Make sure you allow for that in your strategy and you'll do well!

CA is a tough market for a young person even with "good" credit. Everything is just so freaking expensive there.

In this business you need "working capital". In most markets like here in TX, you can get rolling with $20K to $30K. In CA, I think it's more like $50K. So, keep all your bills paid so you maintain a decent credit rating, and start doing some things to create a pile of cash (work overtime, deliver pizzas, rob 7-11s - KIDDING - whatever it takes).

I just see so many people struggle to operate in this market with NO working capital and they spin their wheels a lot. You're asking some good questions - treat this like a business, figure out how to fund this new business, and then how to scale it once you get started. That's a "strategic" way to think about it...

Best Wishes to you!

Wow Justin Pierce - did you think this topic would take on a life like this? Ultimately, you took an aggressive stand and some people (that a lot of us respect) pushed back on you. No big deal. I think there was some good thought in your original idea, but maybe "blaming" wholesalers was not the best approach.

It's a numbers game. Run your own, do deals that make sense, whether with a "wholesaler" or not. I find the term to be a little tainted by newbies who call themselves wholesalers but are actually bird-doggers. At the end of the day, that stuff is just semantics. Make smart decisions with your $ - both in marketing and in deals - and I bet you'll do well.

Hi Christopher Lourenco! Here's my advice. Keep your marketing message tight on the motivated seller. That means URGENCY (of their situation) + CONDITION (of the house). If they are not in a hurry and have a great house, they will easily sell on the MLS in any market now. Some investors use messages like "We Buy Houses" *(near and dear to me, BTW) but never qualify their message - in the hope of getting more calls.

By keeping your message tight, you will waste less time talking to people who do not meet the URGENCY + CONDITION equation.

Oh, and people love CASH. Tell them they will get CASH. Seriously. =)

Happy Investing!

Hi Brian Murphy - I agree with Paul Sorgi. You don't need all those things to go find FIRST buyers who will be interested in any deals you find and then SECOND the "deals". As Sharon suggested, local REIA is a great place to start building relationships.

As you scale up from a few deals, look at vendors that can provide everything you need as a system - otherwise you are going to spend a LOT of time designing web pages and postcards when you should be out finding $$$.

We see many investors that generate good leads, but they don't have their "team" in place to monetize them. Find buyers that can pay cash for houses, and find brokers/agents that will buy your leads that are not true motivated sellers.

A lead generation site is more than just a URL and a form. A decent site, with backend database and back office capabilities, will cost more than $10K.

Yes, you can build a simple site and it may serve you well at the beginning. But ultimately you'll find the challenge is driving traffic to it. But for a simple site with a form that you can include on postcards, car magnets; etc. focus on get a URL that can be easily REMEMBERED. What it starts with,etc. doesn't matter.

We're doing a webinar on June 4th where we'll talk about finding deals & monetizing leads (via a website) - there's a post in the Marketplace about that if you're interested in that...

Not all estates go thru probate. In some states, you can transfer assets under a certain amount (e.g., $100K) without probate:
http://www.heiradvance.com/faq.php?question=do_all_assets_have_to_go_through_probate

Consult a local probate attorney and ask what his advice would be on this specific case. Offer him $100 for his time. It's worth it - Nick Saucier don't drop this deal. They will sell it to you sooner... or later.

The We Buy Houses® WEBINAR on June 4th is FILLING UP! Join us at 2pm EDT next Tuesday for "Overcoming the 3 BIGGEST CHALLENGES for RE Investors" with the marketing professionals at We Buy Houses®.

It's FREE but seats are LIMITED - SIGN UP TODAY:
https://www1.gotomeeting.com/register/744350008

BONUS: "The 16 CENT SECRET"
Did you know there is a secret way to mail LARGE FULL-COLOR POSTCARDS, just within your target zip codes, for only 16 CENTS per piece TOTAL COST (including printing AND postage)? We'll show you how and connect you to a nationwide vendor that can make it happen!