All Forum Posts by: Nicole Holcomb

Check out these books to get started:

by Daniel James Lesniak - This is an excellent road map to a successful career in real estate.

by Gary Keller with Dave Jenks and Jay Papasan - Pretty much the Bible for real estate agents.

Mindset: The New Psychology of Success (Carol Dweck) - This book will get you into a growth mindset.

Fanatical Prospecting: The Ultimate Guide to Opening Sales Conversations and Filling the Pipeline by Leveraging Social Selling, Telephone, Email, Text, and Cold Calling (Jeb Blount) - Prospect, prospect, prospect!

You are starting a business, not a career as a real estate agent. Successful real estate agents are entrepreneurs with a focus on growing their business. 

Be persistent and consistent with your prospecting and marketing and never give up. Talk about real estate all the time to anyone who will listen.

Build Relationships, be in it to help people.

Keep your focus on learning and get a broker or join a team that wants to educate you. Find a mentor you can bring value to.

Write a business and marketing plan and be consistent.

Get comfortable being uncomfortable and getting rejected.

Utilize your sphere of influence.

Leverage technology and automation.

If you want to be a successful agent you must TAKE ACTION! Buy that online course or schedule that state exam, if you can have the action taking mindset, you will learn and grow as you go.

Does anyone have experience with RedX for cold calling? Is it worth the monthly fee or is there something better? 

Nathaniel Walker thank you for your input. Where do you get your lists? With Every Door Direct Mail you can choose specific mail carrier routes to mail to for less than $0.20 per piece. For example the route where I live has 603 residential customers and no businesses. I think I will give both mailing options a try and see which one gives better results.

From my research it costs $200-$300/sq ft to build an ADU start to finish in San Diego County. That being said, I added an ADU in an existing attic and was able to do it for $75/sq ft. According to the City of San Diego website,

• "The total floor area of a detached ADU shall not exceed 1,200 square feet, independent of the square footage of the existing SFD."

If you build a detached ADU you are not necessarily constrained to 50% of the square footage of the main dwelling. It appears you have options to build a larger ADU and potentially up your monthly rental income. Where in San Diego is your property located? https://www.sandiegocounty.gov...

So do you want to sink another $200,0000+ into a property that is not cash flowing? It can take a long time to get approval and build an ADU and I have heard that the city is backed up. What are your other options?

The San Diego real estate market is so hot right now, inventory is low and demand is high with most properties selling quickly with multiple offers. Do you have equity in the property and have you considered selling it?

Can you move in and make it your primary residence, and rent out the property you are living in now for a profit? 

Can you get new tenants, possibly rent the property out by the bedroom to maximize cash flow. 

Would it work as a vacation rental (can you add amenities and make it a destination)? 

You mentioned you have 2/3 of an acre, can you rent out boat or RV parking spaces to get you cash flow positive? (check with local restrictions on this one) 

What about a tiny house instead of an ADU?

These are just a few ideas, crunch the numbers and keep us posted on what you decide to do.

Hello BP wholesalers and direct mail marketing experts, I am about to send out my first round of "We Buy Houses" postcards and need a little guidance. Should I use USPS Every Door Direct Mail to get the word out that I am looking to buy or should I purchase targeted lists? I am already set up with a USPS Marketing Mail account and can upload address lists and print address labels relatively easily. Thank you for your input and have a great day!

Hello and welcome to BP, this is a great community!

Condos are often less expensive, involve less upkeep (exterior maintenance and landscaping) and are easy to rent out. This makes them attractive as investments. However condos have more monthly fees (HOA fees), rental restrictions (CC&Rs) and can be difficult to get financing on.

In general SFRs appreciate faster than condos and have less monthly fees for the investor. SFRs are more expensive and often require a larger initial investment but come with more freedom. A lot depends on your investment strategy and your goals. I flipped 2 condos successfully and made a great profit when I started out as an investor. That being said I now focus on SFRs and would only purchase another condo if the numbers were right. Most investors would choose a SFR over a condo but it is important to take into consideration the location, demand, population, and, most importantly do a investment property analysis on each target poroperty to determine potential profit.

Head over to the So Cal REI groups on Facebook, there are many wholesalers there that you can connect with. In my experience the REI Facebook groups are better for finding wholesalers; you may be able to search for similar old posts and find many wholesaler replies.

I have a direct mail marketing campaign going in Vista, San Marcos and Escondido to find motivated sellers. I will reach out to you when a deal comes my way. Are you looking for a fixer upper specifically?

Nicole

Check out Hotpads and Zumper, you can post your rental listing and check out what others are renting for in your area. I would also post it on Facebook and Instagram, maybe you can reach a friend of a friend.

Best of luck to you!

Nicole