I have quite a few questions about getting started with investing. Some of them are probably pretty obvious to people and others no one might be able to help me out with but I just wanna put some of my questions down here to see if anyone can help me out at all. Any replies at all would be greatly appreciated. (I realize alot of these questions might be better asked separately in other forums but I figure since this is the beginner’s forum that a bunch of newbie questions would be better suited in here.)
First of all I was wondering if anyone can make some recommendations about which marketing techniques worked best for them when starting out. I was planning on doing a little bit of everything but my funds are somewhat limited right now and I’d like to get started with some of the more effective methods of marketing and eventually get into some other stuff when I have some more cash. I wanted to build up a buyer’s list for wholesaling first so I was thinking of running an ad in a few local papers saying I had some fixer uppers at a discount or some handyman specials just to get some investors’ names and info down for when I actually do find a good deal. I was wondering what section of these local papers I should advertise in as well. Should I advertise in the buying or selling section? I also heard that advertising in the money to lend section was a good idea. Any feedback on that would be helpful. I was also planning on purchasing a bunch of the “We Buy Houses” business cards with my contact information on them and an offer for a $500 or so for each referral that I close on. Does anyone think it’s a good idea to have like a few thousand of those made up as well as a few hundred actual “business” cards that aren’t as flashy that I can give to buyers and sellers that I’m making deals with? I figured that might make sense.
Another question I have is regarding mailing lists. I read somewhere that it’s a good marketing strategy to saturate your target neighborhoods with postcards stating your services and all. Can anyone recommend a good place to buy these mailing lists from that I can use to start this marketing technique? Has anyone utilized this and found it to be productive? If so, what did you include on these postcards and why?
I was reading one of Gerhard Cronje’s articles about marketing to attorneys and I was wondering if anyone had tried that out and if it worked for them. If so, what publications did you advertise in and what worked best?
Has anyone found that using promotional items has helped their number of referrals or to get the word out. Which promotional items (pens, keychains, etc.) seem to work best?
Does anyone have any recommendations on good answering and messaging services? I wanted to make sure I had someone answering any calls I received from any ads or flyers I put out because from what I’ve heard you’ll get a better response that way. Does anyone find that to be true or am I better off with a 24 hour recorded message? I work from 9 am to 6 pm Monday through Friday currently so I’m unable to answer the phone during those hours.
Another recommendation I’m looking for is some good web hosting. I’d like to be able to set up a website outlining exactly what I can offer people and a place where they can leave their contact information with me or email me if they have any questions. I’m looking for something affordable and reliable, considering I’m just starting out.
Does anyone know where I can find publicly recorded code violations for properties? I understand that this is a good way to find houses that might be abandoned or otherwise unoccupied. I was just wondering if there was a website or a county office I might be able to go to in order to find this information.
I’d like to set some realistic goals for myself regarding flipping and wholesaling properties. As I get further along with this and have a few deals under my belt I’m sure I’ll be able to set more accurate ones for myself. For now I was curious as to what the profits per deal are for most people who have gotten into wholesaling. Also, what the average time required is per deal. Any info on wholesaling in particular that can help me set my goals accordingly would be helpful.
Has anyone had any experience in going down to their local Section 8 office to find potential investors? How much does acquiring a list of properties to rent in order to call the owners cost? Has anyone found this particular method of building a potential buyers list successful?
Does anyone have any recommendations for a good information source provider that I can acquire a list of out of state owners from? What are the going rates for a list of this type and what do those rates depend on? I think I heard that the lists go for about 1 or 2 cents per name but I’m not positive. How many names can I expect to get with one of these things?
I’m a little confused as to how title companies work. Are these national or local companies or both? When looking for a good title company what qualities should I research?
Can anyone recommend any good hard money lenders? Are the local hard money lenders better than the national ones? Is it a good idea to research one of these lenders on my own or do it through a mortgage broker?
I was planning on getting a contractor list of prices from Home Depot in order to more accurately determine the cost of repairs. Does anyone know if you need to actually be a contractor in order to get this list or can anyone request one?
I think that’s it for the questions for now. As you can see I’m pretty new to the whole investing scene here. Any answers whatosever are much appreciated. I realize these questions aren’t in any particular order and some of the questions might be terrible so just bear with me here. Anyway, I appreciate everyone helping me out on any of these things. Thanks.