All Forum Posts by: Chris Clothier

My business is a little different than many others on here and business has exploded. We have completed 259 transactions (investment properties) with investors since Jan. 1. Our management company crossed the 1,200 property mark in Memphis and we are adding between 45 and 60 each month. We are managing portfolios for 451 investors worth conservatively $101M as of June 1.

We launched a second market and just completed our 18th deal this year in Dallas. We are behind schedule, but based on the number of offers we are making now in Dallas, think we will hit 50-60 transactions there for 2012. We entered 2012 with a goal of completing 420 transactions and have revised that for the second half of the year. The best part is that our monthly breakdown of business continues to be 60-65% returning investor wanting to add to their portfolio and 35-40% new investor making their first purchase with us. At this rate that will continue to tip toward more returning investors as the new investors being added each month compound as returning investors. There is a lot of opportunity out there and it exists in every market. You just have to go start making it happen!

I'm always interested in what you guys have going on. Reach out and let me know what's up your sleeve. Let me know if I can help in any way. I'm sure you are going to hit it big whatever it is.

Adam Jensen - Bill Gulley has some great questions for you to consider. I would tell you that when you ask about what marketing works, that is a huge question. It covers a lot of ground. I think Dale Osborn said save your money for the real estate and I don't entirely agree, but I do get his point. No sense in wasting your money if you don't have a plan and a strategy to recoup the marketing costs. There are lots of very simple and effective way to market that you buy houses without spending a lot of money from signs in the yard, bandit signs around the neighborhood, negotiating with a local business that has a blank wall facing a major street (think gas station on a corner) to hang a banner on the side. Then there are things that cost money and require you to have some knowledge of your area that include postage mailings and sponsoring local neighborhood newsletters, etc...

Answer Bill's questions for yourself first and then you'll start narrowing the questions you need answered for the marketing.

Best of luck

Dave Meyer after first reading your comment I thought you were trying to personally disparage Keri Amorosa after she discloses she bought the program and is having a positive experience. I re-read and realized you were saying that others would say positive things so as not to look like an idiot(?). I don't know if they will or won't, but I do know that if Keri is determined to succeed she can and if following their program is her chosen path then we should all support her regardless if we think she was right or wrong. I agree with you Tom A. that it would be good to hear from Keri on her experiences and if there is anything I can do to help you Keri (I'm sure others feel the same) don't hesitate to ask.

Best of luck -

David Duval - so J Scott was a little faster than I was on the answer here, but I loved the way he put it. That is exactly what we used to do it and today we do not have to show proof of funds every time because we are essentially so active in the market many of the sellers know who we are. But, using his method gives you flexibility and strength in your offer.

all the best -

HI Amber Butler. Having a designation would mean absolutely nothing to me as an investor. What will attract me to use you as an agent is either information or speed of action. How well versed are you on the best investment areas in your city? What advantages would I get by using you (can you get listing agents on the phone with one call)? How well versed are you on the cost of renovating a property to the highest investment level (so I don't have to see it before making an offer)? By making yourself a "value add" to an investor, you will be much more attractive and it should not cost you $500 for certification.

Most investors want someone who brings something to the table. What do you bring? When you know that answer, you will be able attract more investors to you.

All the best -

We have hired a couple of interns and plan on expanding that next summer to high school aged kids looking to develop entrepreneurial skills. BUT, we go thru the local university when hiring interns so they get credit in class and we are working with other non-profits to develop the high school program.

I'm not at all comfortable with hiring interns to free up my time. That is important to some people and it gets thrown around all the time in conjunction with offers to "sell" a lifestyle. IMO, interns should be hired for their benefit and as a way for you to determine if they would be a good future fit for your company. 10-15 interns at one time does not sound like anything close to a reputable way to operate - again just my opinion.

Joshua Dorkin Hey man, sorry for such a long post. It was important to share that. We are obsessive about tracking everything we do and I figured there would be a lot of investors and RE business owners on here that could benefit from reading how we planned our marketing the last couple of years. I definitely think being active on BP and attending the Summit are two reasons we are having such success and enjoying a reputation as a good, honest company.

cheers -

Anthony McNair A great thing about Will's response was to send the EMD to the SAME closing attorney that is hold your EMD. The third party escrow company, either Title or Attorney, will be handling the deal which makes it easier for you and keeps the paperwork clean, in theory. I agree that I would not allow funds to be paid outside of escrow.

All the best -

I've stated on here more times than i can count that you have to know what it is you want as an investor before buying a program, hiring a coach or finding a mentor. Otherwise, you are wasting both time and money. The FB program is an excellent program for the right investor and often one that needs more motivation and mentorship than education. But the education is excellent as well.

It all boils down to the same thing every time. If you are willing to work at something you can succeed whether you are paying for a coaching program or not. But if you are paying, and you are not willing to work and learn, you will fail every time.

If it is worth it to you to pay 25k, and I know plenty of people who have and have made 10X+ return on that investment, then pay it. If it is not worth it to you to pay 25k for education then do not. If you are not in position to make that a successful investment in yourself, do not pay it. And I personally know the owners of FB and have heard them say the same thing many, many times.

All in all, they are good people and they are absolutely still investing and have invested in a lot of passive real estate with my company. So unlike some of the comments on here, they are not selling one thing and doing another. They are still active in the fix/flip market, they are active in the lending business and they are active in the buy & hold passive income market.

You have to decide for yourself what makes sense and if you are in a position to succeed. Until that answer is yes, it doesn't matter how much or how little you pay, success will be hard to come by. No sense is spending any money until you are ready to succeed.