OfflineHello everyone, I'm very new to the REI world and very excited!! I bought Dean's books and signed up with the success academy team a little over a month ago and have learned so much about real estate, and I'm very grateful for that. So I started off hitting the ground running, and got my buyers list started and spoke to each one of my buyers so I know what they're criterias are. I ran my ads and had some people contact me, however, what I'm finding is that a lot of other investors are contacting me or no one contact me at all.
I haven't been able to do my first deal as of yet and I have to admit I am getting a bit anxious to get that first deal under my belt. Where I'm stuck at right now is that I'm having a hard time finding motivated sellers, I have two realtors that I'm working with, but a lot of investors don't really want to deal with properties that are listed. I tried driving around looking for properties but I haven't been able to get much success there. Can anyone provide some tips as to what I can do to find these properties? I really want to do an assignment for my first couple of deals, but money is really tight for me right now, so I'm willing to just do a finder's fee just to get something going and get some money in my pocket. All I need is to find the properties. If anyone can provide some insight to finding properties, it would be greatly appreciated..
Hello Drew
Welcome to the site, I see that you joined the academy that's great. Now its time to get in the real world, and you are a little stuck.
You should start by going to the forum section and look for the topics you think you need help with. There are all sorts of things there,finding buyers,sellers,where people have the best luck posting signs,etc,etc. So check it out and start reading,these people had to learn by trial and error, and they put all this there for others benefit,to make it easier for rest of us.
Soak up that knowledge for a couple of days, come back here and I'm sure you will have very few questions to ask.
Jim Kendrick
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
It seems that you are doing the right things here. You may have a dry spell, but this can change in a moments notice.
I might make a suggestion that you look for a local REI club in your area. You will meet investors just like yourself at these meetings which is a great way to network and ask questions. Just google real estate clubs or investor club in your area and make some calls. The time you spend at these meetings will be well worth it. Good luck...Jan
Anyways, congrats on the Success Academy. I too started about a month ago with them and have learned so much! Definately check out the forums and past posts! I suggest calling For Rent signs because usually they are people looking to seel but have not been able too. If not they are investors that you can add to your list! Also just go through the news paper classifieds or Craigslist to search for FSBO's and those key words inditcation motivated sellers...
Good luck!
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
Go to REIClub.com... they have info on every REI club in every state as well as tons of great resources and more info in their forums that just builds on what we have here.
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
Thanks guys for the tips, I will definitely apply those tips that you all mentioned. Especially the one about calling the for rent places, I thought about that as well but really didn't follow through, I'll definitely do so now. The REI clubs I'll check out also, the only thing is that my work schedule is so crazy and I'm not able to attend a lot of them but I'll keep looking until I find one that fits. Thanks again guys, I'll keep you all posted with my progress as time goes on.
Man you basically live in Washington D. C. You definitely need to take Jan's advice. I bet there are all kinds of clubs around there. I love that part of the country. There are some unbelievably FINE mansions up in Leesburg, Va where I wish I lived.... or would like to live someday...
all the best
WALT
Hi Drew!
I'm new too. I'm looking around for the proper place to post a question and ran across your post and can't believe that you can't find any properties. It's crazy! Where I live there are so many that if you drive around for an hour you can easily come home with 10 or a dozen fsbo's or vacant properties. While I realize every area is not as heavily impacted as others by the economy, I know there have to be some properties available everywhere.
Sometimes you have to look for little clues, like no meter box, or newspapers in the driveway, tall grass, or no garbage cans, although, sometimes people leave those behind.
Look for things that have stayed the same for months. Has the same holiday wreath been on the door since Halloween of last year? Are there no draperies in one of the rooms? It's the little things that are the clues. You have to drive slowly to spot them. I usually drive really slow and just "feel" the houses. Do they "feel" lived in? You can almost always tell.
From there, search the tax assessor's website to find out who owns the house. Then locate that person online and contact them for further information.
Hope you have better luck next time and good luck with your future investing.
Linda