Newbie with a couple questions for the mastermind!

General Real Estate Investing
1

Hi I am a newbie and boy there is a lot of info out there.
Here goes.

  1. How do we create/automate a system (online) of finding deals whether it’s a wholesale, shortsale or REO?

  2. How do we create/automate a system that also finds buyers/investors for these properties?

If these question is a “little out there” please understandon some advice I read the E-myth and Think and Grow Rich. So the forum is the mastermind group and to be an Entrepreneur the system has to work indepedently of me money is an idea right? :help

2

In theory I agree with you that successfuly businesses are really based on the systems that make them work, rather than the people that run the businesses. But I also believe that whoever designs/operates those systems has to understand how they work before they can operate said systems.

My point is, yes, it would be nice to have an “automated” system to find the things you’re looking for, but you first need to have a solid understanding of REI to begin with. It sounds like you’re new to the game from your post, so how about working on understanding REI before trying to automate a system that you may not understand in the first place?

3

With most seller lists, you will not have their email address. If you do online local marketing, it will be a shotgun approach bringing in every kind of seller/lead.

You should learn where to get the normal lists, each list has it’s own tricks and secrets on how to acquire them, go to your local courthouse for an afternoon and see what you can get.

Evictions, Pre-foreclosures, Absentee Owners, Bankruptcies, Free and Clear, Out of Town Owners, Probate, Highly Leveraged, Etc.

4

O.K. your saying learn about REI what books do you suggest?

5

The question about which books to suggest comes up alot, and its a difficult one to answer because of the mass amount of info out there. When I was starting out I would go Barnes and Noble, go the RE section, and just start paging through books. if something grabs you, keep reading, if it is too technical or the other end of the spectrum too generic then put the book down and move on.

also, start reading the posts on these forums, there’s tons of good info out here.