It has taken me a while but I have done it. I have got myself organized and ready to go the battle plan is in place. Thanks to flippingjunkie for the motivational blog. I’ve gotten started with just $100 and you can follow my struggles and successes.
Thank to everyone that comes here, you have all helped me to learn now it is time to sink or swim.
Special thanks to FDJake and MotivatedCEO.
Best of luck to you.
May I make a suggestion? If you’re tight on funds don’t worry about setting up your business with things that don’t produce quick revenue. It’s rarely a good idea to wait until “all the planets line up” before embarking on something such as REI. I’ve seen your username…you’ve been on here for years…and you’re just now starting???
A better strategy is to just start! Take action. If you have $100 don’t invest that money into websites!!! They are utterly useless unless you have the money to push them out there (PPC, SEO, etc). Don’t do business cards yet either unless you know what to put on them, which is a direct-response oriented, targeted message.
Just start doing the things that get you in touch with people with houses for sale and stick to the fundamentals. Start marketing & taking calls and you’ll be surprised how steep your learning curve will be.
Here’s a better action plan: take that $100 and buy a pack of yellow notepads, invitation envelopes, and a roll of stamps and mail 10 “yellow letters” per day to a list. Or buy 50 bandit signs from dirtcheapsigns.com. Point is, until you are talking to sellers and making offers essentially you aren’t doing anything but busy work. Prescreen sellers and start making offers to the motivated ones. Even if you don’t know every single aspect of the biz yet. Keep learning while you’re doing all this, but the important thing to do is take massive, revenue-producing action.
I have been on the sidelines. The deals I have come across have been passed on to other investors who have given me a referal fee. I understand what you are saying, as far as the $100 it was just to get the sites up and running. I am waiting for bandit signs, I’ll be putting up about 100 in the next two weeks.
The biggest problem I have is as a contractor I make a good living. This keeps me busy, but produces no passive income. So I am going to start building my RE portfolio. I want to rehab a few properties and wholesale some deals. Just to increase my working capital.
I have been on the board for a while, procrastination has held me back. I have been saving money and repairing my credit. A couple years is a long time to get started I am more looking to make a transition into REI full time and not do so much contracting. Don’t get me wrong I absolutely love the building. I went to school at Pitt for comp sci, biz, and started my own business after realizing it wasn’t for me. I just see the future and it is my on the beach or golf course while my rents come in.
Cool…the good thing is you finally took the leap and you’re doing something…many never even make that leap so I commend you for that. :beer
Congrats on your success as a bird dog. :biggrin
Updated my blog with the weeks activities.
Map out an area in your area, gas up you car, get a pen and pad and go driving for dollars.
I actually went driving in a really good neighborhood on a property that I put under contract, I can’t believe I found 4 ugly vacant homes with in a 4 mile radius. I need to get out more often. lol. I have taken a more relaxed approach, it took me back to the old days when I was a savage newbie with determination steaming from my eyes. lol. Looks like am going to get some marketing out to the owners. I don’t ever want hear that there are not enough deals out here.
But hey contrats on your journey. You will do fine bro. :biggrin
Great job. Action is one of the keys to success.
Update: When out with my assistant today, and found 20 more vacant properties in fairly decent neighborhoods. Driving for dollars is slept on big time. Sunday mornings are good around 6-7 am. Most people are not at church yet. Gives you a better view if the house is vacant or not. :biggrin