What to do in this situation?

[Luke9686]

Don't even attempt to learn sub2, owner finance, or any other creative technique until you've made some money with wholesaling.  You're becoming a victim of analysis paralysis, every new shiny technique will lead you down a rabbit hole.  Focus on wholesaling.

Second, you know how to get leads.  Paying these yahoos will only separate you from your money.  Everyone on here has told you exactly what to do.  There's nothing these guys will tell you that we haven't told you.  Consistency is key.  You can't send out 1000 now, not get a deal and think it doesn't work.  Set a weekly budget, send mail each and every week.

[Randoskie]

This Millionaire wholesaler I mentioned earlier told how he was victimized and ripped off by someone in his REA meeting for exactly the same amount of $3,000.
He went on to say it was when he first started, and the 3K was every penny he had & he was devastated.
It may have been part of the experience you need to go thru of hitting rock bottom to make a determined mental mindset to get your hairy butt in gear.
Maybe I shudnt of said anything.
If your using Daddy's money you will never get to that point of rage, the end of your rope, your back against the wall and you make that deep heartfelt vow that you will never quit and will prevail no matter what.
I've been there.

[Luke9686]

Rando you nailed it.  Every mentor I've had said the same thing.  You have to find your "why" to really be successful.  Most people, I've determined, are too comfortable and they will never find that reason they charge forward.

Red, take that $3K you were going to pay them, divide it by two months ($1500/month) and that is your monthly budget.  That's about $375/week, or about 700 pieces of mail per week.  Assuming a 5% response rate that's 35 calls per week.  Dude there's a deal in there, I guarantee it.

[Redstar1324]

Okay, I have a really good question, though.

You (Luke) found 16,000 absentee owners in my area on ListSource.

If I send 1000 letters/week, doesn't that mean my business is over in 16 weeks?

Do I send to the same people twice? Do I expand to further areas that I can't physically inspect?

[Luke9686]

You need to trim that list down.  Once I establish my budget, I trim the list to the zip codes I want to target.  Then I mail on a regular basis to that list.  If it's absentee owner, keep mailing over and over.  Re-pull the list every six months or so.  I do the same to my mortgage lates too.


Have you done anything anybody has told you to do yet?  Or are these endless questions going to continue?  Do something.

[Redstar1324]

I'm in Gold River's personal training program.

I don't have money for direct mail right now.

[javipa]

This Millionaire wholesaler I mentioned earlier told how he was victimized and ripped off by someone in his REA meeting for exactly the same amount of $3,000.
He went on to say it was when he first started, and the 3K was every penny he had & he was devastated.
It may have been part of the experience you need to go thru of hitting rock bottom to make a determined mental mindset to get your hairy butt in gear.
Maybe I shudnt of said anything.
If your using Daddy's money you will never get to that point of rage, the end of your rope, your back against the wall and you make that deep heartfelt vow that you will never quit and will prevail no matter what.
I've been there.

That's exactly what I experienced.  Success hasn't come to me, without first digging myself out of a ditch (or several).  Any new goal, or endeavor, pretty much came with its own ditch to dig out from.

President Trump had some temporary successes as a young man, but his lasting ones only came after digging himself out of a multi-million dollar ditch in the late 1980's.  He went from being underwater by several million to being worth several billion.

My ditches have included financial, emotional and psychological setbacks.  These are not the definition of failure for anyone, except for those that roll over and quit. 

Unfortunately, I've seen many, many investors lose their shirts, if not their wives, and consequently lose their nerve and ambition ...and disappear from the landscape.  I've also seen other investors suffer giant losses, somehow hang on to their marriages, and eventually come back to conquer the enemy.

As an aside, frankly I think it's critically important to either 'sell' your spouse on the dream, and get a 'buy in,' with all the support and help that comes with that, or get rid of the bitch. 

I am currently witnessing a friend of mine recover from a failed marriage, where he was never able to get a buy-in from his wife ...on the basic dream.  She was dismissive, unhelpful and ultimately destructive of both him, and the marriage.

I've come to the conclusion that any man will do anything for the right woman.  Anything.  But if the man is too stupid to hold out for the partner that shares inspiration for his ambition, or inspires his ambition in the first place, deserves what he gets. 

Meantime, woman are in complete control of things.  And the women who understand this, know how to make the men feel like they're in control, and motivate them to turn the world on a new axis.  The rest are just good for, well, I'm not sure.

Just to preach here, most women are not taught to develop and cultivate inspiring partnerships with their husbands, but that 'somehow' they can actualize themselves independently of men; dominate them; and moreover become self-sufficient. 

That kind of conditioning breeds competition, and fairly requires an effete, milquetoast male to make that situation 'work.'  I suppose it takes all kinds to make the world go 'round, but in this case, the man becomes a 'woman.  No, thanks. 

Perhaps that would indicate one more ditch to dig out of, to achieve ultimate success?  IDK

FWIW

[Randoskie]

Haha, oh crap, javipa has hit on a touchy subject for me. My guy John approached me soon after I started wholesaling & asking for help and I offered to help him get started.
His wife gave me the evil eye from day one, not friendly at all, John tells me about the negative comments she constantly makes and even thinks I'm there to rip them off. She's a hideous overweight old crow with a scowl that wud scare the beejeesis out of Satan himself.
I told him if he ever wants to be successful he needs to throw out the garbage and start fresh.
Well, 4 years later John has still never done a deal. So now when I drive up in nice vehicles the cold hard bad looks I get from her would melt granite. John probably told her I said to get rid of her.
John has a comfortable pension from working as a correctional officer, so there is no deep down reason for him to get in gear.
He drowns himself in some hard drinks every night.
How can you help this guy? You cant.
So are most women psychotic bitches from hell, yea I think so.
Does my wife fit in that category? Yes. But she don't discourage my dreams.
My wife gives me constant grief about most everything except my new profession, as long as money is coming in we somehow get along.
A comedian once said, Women, you cant live with them, but yet they are everywhere.

Rando

[javipa]

My aunt was routinely supportive of whatever my investor uncle wanted to do, except invest in real estate.  That was a bridge too far. 

She was intimidated by the responsibilities and liabilities that real estate investing represented in her mind.  She imagined they would be overtaken.  This included not covering payments on vacant houses, failing to collect rents from deadbeats, or getting snookered by ornery tenants, and the list went on.

My uncle got her to buy in, after she received gifts from his real estate profits, and there was not nearly that much carnage in dealing with dishonest tenants. 

One of the gifts she received was a grand piano, which still sits in their living room today.  My aunt ultimately threw herself into the deal, and for years served as the manager and bookkeeper.

They did hit some catastrophic hiccups, but because they were on the same page, their marriage survived, and was the reason they were able to bounce back like never before.  My aunt believed in my uncle, and otherwise, assumed risks that didn't pan out the way they hoped.  Bad things happened that nobody could have anticipated.  But they overcame and moved up the food chain despite the challenges.

Meantime, I saw the docudrama "Gold" last night.  It's about a professional prospector named Kenny Wells (starring Matthew McConaughey as Wells), that illustrates the women/girlfriend whom can't/won't understand, or accept the motivations of a visionary risk taker. 

In this case, Well's girlfriend abandons him, because she only sees destruction and devastation ahead, and is not in for the 'thrill of the hunt.' 

Never mind, Wells never amounted to much before, and any new-found success, put her out of her element, and was a threat to her.  She was only comfortable and secure with the familiar and the mediocre.  And never mind the gold diggers that showed up for all the wrong reasons.  It certainly was not for Well's looks.

I won't give away the ending, except to say I was cheering when Well's girlfriend finally bailed on him.