All Forum Posts by: Tim Bishop

Yep, you need a pro account to advertise the promo.

Direct mail and cold calling IMO.

Call all for sale by owners, call all rental listings, look up owner data and try to find a phone number for all vacant houses.  When I say all, I mean all in your target market.

That's what I've been doing... the order I put them in has been in order of most motivated.  They still have to have equity so you may want to look up all of the addresses on the appraisal district site and make sure it's been owned for 10 years (not a guarantee... just an indicator).  Or just ask how much they owe.  Either way, do that before making an appointment. 

Since you are in Rhode Island and the weather is 10 times crappier than here, it may take 10 times as many calls but you'll have to find out for yourself!

Why don't you start cold calling?

I've got one handshake agreement (won't sign until after christmas) and one very motivated seller who I have a chance with (meeting at 6pm today) from less 50 phone calls.  It's not cash in my pocket but it keeps me going.

How long will it take to break even?  You said it would reduce your cashflow but for how long.  How much will it cost vs how much will it increase income or reduce vacancy.  If its a year or two then its probably worth it but that's your call.  Estimate your expected reduced vacancy and figure out your dollar value for it.

@Jade Davis 

That saying is from Bambi which I refuse to take life lessons from lol.  Nobody should go around picking fights but sometimes people need hear that they don't make sense or that they need to change their mindset.  I agree with what you said at the end, about what she should take away from it, and number 1 was driven home the hardest by some of the criticism.

I can't believe that they couldn't have charged it.  Tapped out with the next "project" maybe... not a good predictor of success, they don't deserve it if that's how they treat people.

I'm saying this as a guy who told her not to apologize for rambling or whatever...

Just because it sounds "mean", doesn't mean that it doesn't need to be said.  I think most of the criticism was "honest" not mean.

Buying and selling vehicles is how I got my down payment for my first house! 

There are lots of ways that you could start but I would recommend buying a multifamily building and renting the adjacent units while occupying one.  Maybe fix that one up and move to the next unit.  I don't know what property prices are like there but your 10k might be enough for an fha down payment but might not get you far after that in repairs and reserve funds.  Being in college I could see credit history being a limiting factor, a way around that might be marketing to owners and getting owner finance or sub 2... riskier (in the case of sub2) and harder to accomplish but you seem like a smart guy!

I have found a few accurate phone numbers and email addresses for free on this site.  http://www.advancedbackgroundchecks.com/

I've messaged owners on facebook which could also be a source for a number if the profile isn't locked but I haven't personally proven it.