All Forum Posts by: Reggie Wright

I've been inspired by listening to BP podcast #311 with J Scott on how to prepare for the pending market correction.

We all have a lot to gain from the wisdom of those who lived through the Great Recession.

If you have survived or even thrived in real estate in the last recession, please please please share your experience with us.

What was your real estate strategy?

What were the results?

Yeah, no thanks. I'm living life on the up and up - no need to sneak commissions behind TREC's back.

Thanks for the advice 

I received an interesting proposition today - if I find a tenant for a commercial property then I'll get paid a "finder's fee" by the owner. However the owner did say that the property is listed with an agent. 

Question is, do I have to be licensed as a real estate agent to get paid on this deal?

Any update, were you able to close your first deal?

Take a look at your city code. Search "Your City Sign Ordinance" or call and ask about the rules. 

You could work for a local flipper or wholesaler. Find a way to provide huge value to them. I'd say go driving for dollars and then give them the list of addresses. Or you could spend a little money to skip trace the addresses yourself, call them and see if the homeowner is motivated to sell. At that point you can step aside and let an investor take it down. Anyways it starts with meeting investors and getting to know each other. Attend your local REIA meetings. Call on the "We Buy Houses" signs and introduce yourself.

What I'm trying to get at is that the idea of "waiting for your real estate license" is a limiting belief. A good number of investors are not licensed. You do not need a license to learn the values of properties, find motivated sellers, get a house under contract, rehab/renovate, etc. 

@Ryenell Simon My advice would be to up the marketing. I'm working towards my first deal as well. I find that things start happening/pieces are put into motion when I market a lot.

@Jose Julio Try the code violations list. You can pull the information from the city or county. 

@Denny Robert What is Coles?

By cost per lead I'm assuming you mean "cost per search". I use a contractor from upwork.com to search on my behalf. It costs me $0.25 per search if I have the name and address. If I don't have the name, then its $0.35 for the contractor to search Landvision for the name and then Accurint for the phone number. 

55% return, as in only 55% of the property addresses you received back from the skip trace had good phone numbers? If so, that's low numbers. I'd recommend using TLO or Accurint.