All Forum Posts by: Jim Ludes

It really depends on where you live, but I wouldn't hang them in upper class neighborhoods.

I got my very first wholesale deal in Compton using bandit signs, so they do work. I never received any complaints once they were up, but I did have a guy yell at me while I was on the ladder trying to hang one in his neighborhood.

In Denver the so called "sign police" will come by and cut your sign in half so your phone number in unreadable.

In the DFW area the actual police will call and threaten to issue you a citation if you don't remove them.

You can always check the sign ordinances in your city first or just hang them and ask for forgiveness later.

Yeah Mike, you're welcome! Actually these 3 campaigns were targeting a lower class area of Sacramento.

You can take any letter you use for marketing and put it on a post card. You can even use the content on your website.

My message was about how the homeowner didn't have to hire a real estate agent to sell their house and go through the long, expensive and complicated process. We could buy their home today with no fix-up cost, no real estate commissions to pay, and no closing costs.

Then I told them to call me to learn more or visit my website to fill out the form.

That may be true for savvy real estate investors, but when first starting out, trying to secure funds from "real investors" can be a little intimidating and difficult.

My approach works great for newbie real estate investors when talking to "regular folks" who have money sitting around in CD's, IRA's and savings accounts earning them a small ROI.

@Joe Norman

When looking for private lenders, I always ask the person (old acquaintance or someone I've just met) if they know anybody. This takes the pressure off of them and they won’t put their guard up. If they’re interested they will ask you more questions. If they’re not interested, then maybe they will refer you to someone they know who is.

Here’s an example of a question I would ask a potential private lender:

"Do you happen to know anyone who's looking to earn, (a nice or generous), 10-15% return on their investment, (or ROI), secured by real estate?"

That’s it! Just slip the question into the conversation when the moment is right.

There’s no pressure. You don’t sound like a pushy salesperson. You don’t even make them feel uncomfortable.

When you use this approach, it actually gets them to ask you about your private lending program, rather than you coming across as a salesperson.

Hope this helps!

Hi James, great start! I wouldn't advise buying and holding properties in war zones because they usually come with all kinds of problems like vandalism, theft, squatters, poor quality tenants, etc., but I would definitely do wholesale deals there.

You could always ask the seller if it would be okay to check back with them at a later date to see if their situation changes. I find that a seller's motivation level increases over time for a number of reasons.

You could also refer them to another real estate investor who might be able to work with them now and then split the profit. Or maybe you could refer them to a Realtor for a referral fee.

Hey David, when I first started I handled all aspects of acquiring properties myself.

If you're going to answer all the calls yourself, ask the pre-qualifying questions, do the due diligence, make follow-up calls, meet with qualified sellers, and then go to the closing, I would say 10 hours, (give or take), per deal from start to finish is a good rule-of-thumb.

Of course there are many variances and the more automated you make your acquisitions process, the more time you'll save.

Out of the 5,000 post cards sent, I got 3 to 9 calls, 1 or 2 motivated sellers that would meet my buying criteria, and 1 that would turn into a deal.

Yeah Elio, it really depends on the type of deals you're going after and the type of marketing you're using. Like Brian mentioned, there are tons of variables.

Here's one of my off-line example sending over-sized postcards to entire zip codes using bulk mail.

• 5,000 post cards mailed
• 3 to 9 calls
• $1,100 in marketing cost
• 1 deal completed

I sent a total of 15,000 (5,000 x 3 mailings) post cards and each time I acquired 1 deal, (1 major rehab, 1 paint & clean-up, and 1 wholesale).

Great advice Ron!

I use a similar P.S. on my postcards, but never thought of using one on my yellow letters.

Hey Shariyf, go check out yellow letter that Bryan K. posted a picture of on the Address for sale is not the same address of the tax payer thread.

It's pretty much the same one I use.