I went to my first seminar in May and it was a blast. I didn’t know much about real estate when i went so it was a bit difficult to understand. i’ve been studying hard and understand it better now, there might be minor things i need to work on.
After i got back from the seminar i started looking for houses and marketing; yet, i haven’t made one deal yet. I am not sure what i am doing wrong. I can’t seem to find any right homes. Am i looking at the wrong place?
I quit my job to do this full time and it isn’t fun being broke. i’m starting to worry what if i run out of money to live on. I’m reaching to the point where i’m losing myfaith in this business, and don’t want to. Does anyone have any advice? comments? help?
Don’t give up this is a great business to be in…At first your real excited then it starts to die own when you haven’t seen anything happen yet… I’ve been there and now I’ve been Investing fulltime for 10 years…This is a very broad industry therefore my advice to you is niche market…What strategy are you using now? Start with a technique that fits you best and as a beginner investor I suggest you use some methods that don’t require cash or credit… The deals are out there…
I’ve been taught about subject to, lease/option, wrap-around, I think all the ways to purchase and sell houses. I think i looking at the wrong place for these deals. Almost all the people i find are suspect, they all want too much for their home.
Do yourself a favor do not lose faith in this business. Faith is sometimes the only thing that will keep you going. It’s your approach you should question if something is not working for you CHANGE IT. And if that does not work change it again and again and again eventually it will work. The main thing to really look at is your marketing what is everyone else doing? What can you do different? This is just like every other industry in the world you always have to be three steps ahead of your competition. Face the fact when you start out in this business deals are not going to be looking for you. You need to be as creative as humanly possible. You need to outbox out shine and deliver your competition. The bottom line to all of this is people don’t do business with people they don’t like. If you get creative in your approach that ice is already broke and you can move forward to the close.
Prime example: I have a good friend in NM he is on this site as John_NM yesterday he got a great deal on a property. Here is the kicker there was another investor that was offering a better price on the property. He got it why? The lady liked him. It was not the deal it was just simply the fact that she liked him more. And John has a 40lbs Beer gut so it is not his looks (Sorry John had to)
This is a wonderful industry if you do it right.
SO DO IT AND DO IT RIGHT!!
smili3e
I have been investing for about 10 months and I’ve done 4 deals and got one under contract right now (all rehabs). It’s not about looking in the wrong place because I live in a small town and I’m telling ya the deals are out there. The thing you have to do is market (like reoconsultants preaches) and network with everyone. In Reo’s book he teaches alot about marketing. Buy his book and check it out, it’s only $25. Also everyone you come in contact with you tell them that you are looking for houses to buy and give them a business card. Remember You will get alot more NO’s than you will a yes, trust me!!! REI is a numbers game that you have to work through so be patient and work through it, the rewards are awesome. Treat people like you want to be treated and you WILL get more deals and referrels. Like Robb just mentioned, I got my last deal (foreclosure) because she noticed my desire to really help her and not take advantage of her. When you are face to face with people in foreclosure you have to be understanding because their emotions are going through the roof. Here is a quote from John $CASH$ Locke: If they like you, they will listen to you. If they TRUST you they will do business with you!! That is so true, I just experienced it myself.
Don’t give up and keep striving ahead. Only the strong survive.
Oh by the way Robb, I got a 60lbs beer gut. ;D
I think even at 60lbs it is a conservative estimate!
Now that I said that Thank you for the kind words!!
Don’t thank me you don’t appreciate ****, LOL!!!
By the way you wanna borrow some of this beer gut you skinny little ****!!!
You don’t weigh a buck 50 soaking wet!!!
LOVE YA BROTHER!!!