All Forum Posts by: Steve Milford

My aha moment came after "thinking about it/reading/analyzing" for a long time, getting frustrated at Realtors in my area in the selling of my last house, and then deciding to be better for myself and family. During my first "deal" I found that to be the best was to be active in the market every day always talking to people and analyzing "the numbers". My reward from that activity pays for any mistakes I make along the way, and yes I have made some. My preferred lender says I am very conservative, more than most Realtors he knows-but I hate to lose money. I don't look for "secrets" but look at different ideas to see if there are ways to work smarter versus harder.

In both endeavors you need to engage in as many conversations as you can. The best ROI I have found is to hand out your business card one-at-a-time as fast as you can. Once people meet and have a conversation with you, they are more apt to refer, and that is what you need to succeed.

The best books I have found are those that focus on giving and sharing with people in your circle of influence, The Go Giver, etc. 

The more that you do with and for others, the more that you will see efforts back to you in return. It takes a while to get started, though once the ball starts rolling, with a little work, it just keeps rolling. i.e. In the last 2 years I have spent equal amounts on direct mail, CPC, and my circle of influence (COI) and the return from my COI has resulted in 75% of my income.  

Everyone is looking for the "secret" to get more deals, but there is no such thing. Just do what you can to get your name out there and have conversations.

The difference has already been explained I see. As far as finding an agent that helps you - find someone you trust to tell you the truth and not shine it up. Find someone willing to tell you the bad news. When I work with investors, I look for ones that can accept bad news.

I sold a home last year that was built on a hill and the garage was installed with a sloping slab toward the house. It took just the right buyer and a foundation cert that everything was ok.

I would have to say that it is plain ole hard. I have the same problem as Realtor/Investor. One thing that I do is just keep an open eye when I am driving around (and call on properties I find) and I do a lot of direct mail. I just can't seem to crack the online model for the same money I spend on direct mail.

Efficiency is really the key here and most have limited funds. The most efficient method to me really has been handing out my business card, one at a time, as fast as I can. It is meeting people face to face and having a conversation with them and I get most of my business through my circle of influence. 

Be aware, the market (here in PDX area) is shifting down, and that has all sorts of ramifications both good and bad.

To me, it comes back to your numbers. Where are your break-even points? And what do you feel most comfortable with? Regarding noise, if you have to defend how it is not "that" noisy, then it is too noisy. Realize though that the easiest feedback offered is always the stuff that can't be changed.

Just curious... If you are buying properties listed, are you not using a Realtor/broker to help you in that process? I ask because I was wondering where your Realtor/broker is as I read this? I have met other investors that end up in messes and helped straighten them out, but situations like this still make me wonder how/why when it happens? Based on what is presented here it seems like the other Realtor used the contract to their advantage, but I may be wrong. I am sure I don't have all the facts but am curious to gain insight so that I can be a better Realtor for my clients.

@Di Di Dee For you and me it may be, but for some it is not.

YW

My 2 cents. 

I don't know other markets so I have nothing to reference to on that end. Likewise, if you are comparing this market to others - the numbers might not make sense, based on what you are used too. 

Regarding finding deals here? Just remember, if you shop on MLS then most properties are going to be retail mostly. Want something off retail then look elsewhere or look long and hard. I have found some great deals on the MLS and to me is the best ROI based on sourcing costs and time involved.