All Forum Posts by: Noel Challenger

Hey Makhwarand,

That's a really good question. I try to have a balance of forms of lead generation. 

Here's my breakdown:

-50% phone lead generation (Cold calling old expireds/FSBOs)

-35% face-to-face meetings (Open houses, door knocking, REIA meetings)

-15% social networking websites (BiggerPockets) 

What I've come to realize in investing in NYC that it's all about who you know. It's a MUST to start building relationships with real estate agents that work in the areas that you are thinking about doing business in. Investing in NYC is a team game and you have to be good at getting on Realtor's good sides.

1. Direct Mail

2. Cold Calling

3. Bandit Signs

4. Door Knocking

These are some options just to name a few. You can look this up on YouTube and find videos going in depth how to find motivated sellers.

Hey James,

Some properties take another year after it's foreclosed on to be listed with a Realtor. It takes the bank a couple months to evict the previous homeowner and they also have to decide which asset manager they would like to hand the property off to.

Hey Pierre, 

Do you have access to the MLS now? If so, then which one? You are going to have to look at the recently sold properties in the area and change the "Sale Terms" to Cash.

What are investors is looking for in terms of ROI? Well that depends on the investor and what strategy they focus on. Investors that are buying a property to rent out are buying strictly for cash flow. The returns are either higher or much lower depending on the area they plan to buy in. On the other side investors that are planning to buy property to flip are looking for at least to take home 15% of the ARV.

What is it that you don't understand about the contract? 

Invest your real estate profits into a fancy online dating service... Only joking. *Even though that is a liable option. lol*

You have to put yourself out there and start meeting women at networking events and you can also join clubs.

Hey Caleb, 

Congrats on getting your real estate license. It's a great first step to learning all about real estate and building wealth. You mentioned that you served in the military, well that's your starting point! Keep in touch with the people that you met in the military! It would jump start your business so that way you can get a couple of deals under your belt within your first year!

One of the best ways to get a feel if a property is in a higher crime area is by looking at the types of stores around it. Some of these businesses include:

• Lower-end supermarkets
• Liquor stores
• Chinese food stores
• Bail bonds
• Check cashing place
• Credit repair
• Dollar stores
• Family Dollar
• Prepaid cell phone provider stores (ex. Boost Mobile, MetroPCS, SimpleMobile, etc.)
• Fried Chicken spots
• Barbershops with bars in the window
• Storefront Sports Bars
• Storefront Churches
• Any business with bulletproof glass between the cashier and the customers

They have been saying things like this for years. I don't think Realtors are going anywhere. Getting the job done like a great Realtor would is more complicated than most people think. There's skill, knowledge, and experience involved that you just don't receive from these discount services. Real estate is an interpersonal business and in almost all cases the largest financial purchase of a person's life.

On the other hand, Realtors who don't adapt and implement technology in their business won't be around in twenty years. But, the ones who do will do 5 times as much business. I see this happening now in the industry. Realtors who refuse to use the Internet, Facebook, an iPhone, etc.. these guys are getting swept by tech-savvy agents who dominate the market.