OfflineOk, my name is Steve and this is my first time posting in the journal. I am definately ready to get moving. I am going to post my thoughts and actions as I move forward. Please, I need input from you all. I am definately going to move in the way Dean's books say but i still need confirmation from the DG Family. Like most I suppose, I need money in the bank like yesterday!!! So i think i need to move on assignments first. I'm going to start making practice calls from the newspaper ads first just to get a feel for it. If I'm lucky there may be some potential sellers. What I'm not sure about is finding buyers. What do I do if I find a motivated seller but don't have any buyers. Ideas, suggestions and experience are all welcome.
Thanks, Steve
I would suggest you work on your buyers list first. If you really need to move fast I would say attend your local REI club meeting and talk to the host about finding investors that will take your deals as well as getting some hands on advice. That is the most direct route to finding investors to have to sell your deals to. You will need Biz cards also when you attend the meetings.
hope that helps
Richie.
If you are using the newspaper also call on the for rent ads. They may be land lords looking for more properties and that is a great place to start building your buyers list in addition to the REI clubs, especially if you do not have any in your area.
Good luck!
Chip & Andrea Weule
AC Investment Group, Inc.
Steve,
I agree buyers list first, and that aint as easy as it sounds but once you have the buyers list then it makes it easier. I relate it to normal store. If i know my customers want brownie mix, well my job as the owner of the store is to supply brownie mix. Once you know where the investors want to be then you focus on that area and it makes it hard for them to say NO as long as the deal makes sense to them of course. Post flyers, take out ad's in your local paper, the renter idea is awesome didnt think of that one and now ill use it. Get creative and Dean even supplies hundreds of ideas also so highlight the book sticky note it and know that the book, your drive, and the DG family were here for you.
Shawn Downey aka Promeric
Thanks Richie,I did in fact talk to a RE Investor at the Gym a couple of days ago and I asked him about REI club. To his knowledge there isn't one here in town. I did ask him if I could pick his brain now and then to which graciously said YES. Working on putting my biz card together now. There are other professional club meetings that take place so I think I am going to ivite myself to it. Thanks for your help. Looking forward to more advice.
Steve
Hi Chip and Andrea, I had heard about calling on the Rent ads before and completely forgot about it. I'm definately going to work on that this week. I appreciate the tip and I'll keep everyone posted on how that goes.
Steve
The great thing about calling For Rents is that even if the landlord isn't looking to add to his inventory, he may just be looking to sell it. It could either be a person who is renting out their own home because they've been unable to sell, or an investor who either doesn't want to carry as many props as he has or may just want out of the landlord business altogether. You have a potential there of picking up a prop which is why it's always important to have a seller to take it to.
Cindy
Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.
The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart
"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard
You mention that the man you talked to doesn't know of any in your town. Which town is that? I checked your profile but the info isn't given. There may be someone right here that is in your town and knows of a club.
You can also google REIC and your town/state. I can't imagine even small towns not having at least one, but if none exist, maybe it would be a good idea to join your local Chamber of Commerce or some other such club.
Cindy
Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.
The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart
"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard
Hi Cindy, hey thanks for replying. I live in Las Cruces, New Mexico. This is a great town. We have a lot retirees move down because the climate is pretty nice most of the time. Just in my neighborhood alone I have neighbors from California who moved down paid cash for their home, after selling in California, and are just kickin back. That's all over this town. We also have a University here which I think is a huge factor for student rentals. And of course a lot of Foreclosures right now. Unfortunately this is not a high income earning place.
Steve