As much I want to wholesale, I am in a rut now that looks to ruin my hopes of doing any deals whatsoever. Without means of literally going out to find deals and transact business with buyers and sellers, the hopes of real estate investing is dead. That is how I feel right now because I am unable to travel out and do any kind of business transactions. Is it safe to say I can go ahead and call it quits?
Most people quit. Only you can determine if that’s the right thing to do or not. Are you saying you don’t have the financial means or the time to go find deals? Maybe you just put things on hold for awhile, but it’s completely up to you.
3 words. 3 feet from gold. excellent read. I was in your shoes not too long ago. My father and uncle are in to real estate and i just couldnt get a deal done to save my life. This went on for a little over a year, I just recently closed on my first wholesale deal for $5000. Success favors those with tenacity.
To be honest and I hate to say this, but I don’t have my wheels to get me from point a to point b. That’s what I mean by I can’t literally go out and do any kind of transactions. I can’t do any deals if I can’t get to the deals somehow someway. Right?
I can’t find deals either, which is why I am looking to partner with someone who can. The situation I am in now is that I don’t have means of transporting myself around to where the deals are. I could probably find a deal somewhere. I am just in a bad position right now where I can’t get to where the deals are located.
No excuses…where there’s a will there’s a way. If you have a friend w/ a car, work on deals via Internet, realtors etc. And when it’s time to see the property ride w/ a friend or take public transportation. I don’t think your making enough offers. I posted bandit signs, put up flyers and generated no leads. Since I started making calls from FSBO signs, Craigs lists and other sites making offers, I’ve been negotiating deals almost daily. Stay motivated. There’s an abundance of opportunity everywhere, but don’t give up. Just try a different route. Get out there, network, talk to investors in your neighborhood and just get active the best way you can. And I’m from the hardest market, NYC. Stay hungry!
I don’t have friends or family I can turn to help me out as far as taking me to hunt for deals.
Check this out bro, if you feel that you want to quit, then quit, don’t come here expecting people to wipe your tears. Its a doggy dog world, and if you don’t have the drive that it takes to take just a little action, I have no clue what to tell you , but I tell you this, there are still going to people coming out of the rut with no wheels. You can do everything from home if you want. You have to have some type of money coming in because if not you would not be on the internet, nor would you have to energy to type because you would be hungry due to lack of food. :brow
Dust your self off and get back at it. Get a myFax account, last time I checked, it was 10-20 bucks a month. Send out the contracts to the sellers once you have a potential deal. If it is that good, you wont need a car, the buyer would come ot you with a $1000 binder deposit, trust me, its done everyday. So its really up to you. This business is not for everyone, its not meant for everyone to be a bigtime money maker. If it was who would cut my grass, wash my car, or fix my whopper my way. lol. :banana
Tbodley, you need to go freakin’ Andre the Giant on this business!
I wonder, did you have a car last year? If yes, then what is the problem?
Remember, winners do things that losers refuse to do!
If you don’t have a car, get a bike! Take a bus!
I’d suggest to mindfeed everyday. Positive messages. Read inspirational books on real estate.
There are just TOO MANY people out there who made it from nothing. Take Oprah for example. She grew up on a farm in the middle of nowhere! She was abused as you know and had NOTHING. I think you know how that turned out.
So use your pain as motivation to achieve, brother. Get out there and do some deals, and stop your whining!!! It’s giving me a rash.
Hope this helps.
Sombody give this guy a baby wipe or something. lol. :biggrin But seriously, you can do it if you really want it. Just cant give up. And I forgot to tell you, you don’t have to dominate the who city in a day, but make sure you are doing something to build your business daily.
Chunk hands T a baby wipe
Check out the Rags To Riches book from Russ Whitney. It’s old, but its good. Mindfeed and read. Come to these boards to broaden your skills too. Because if you only understand wholesaling for example and thats all, you’ll cut yourself out of a lot of profit. So pick up a book and learn more. Last, I’ve made this suggestion with others but I think it bears repeating. In my opinion the absolute best way to learn new real estate deals is by shadowing someone who is already doing it. Offer to do mundane jobs for them like getting back to phone calls, putting up flyers, whatever. You will excellerate your learning of different deals, the handling of sellers, negotiations etc MUCH faster. So you offer your time for free for an investor. Then, lets say he gets a lease option deal signed up, you offer to market that house for him using his money to do it, then when he finds a tenant/buyer he gives you some cash to find and screen them. Win-win solution. You dig?
Man that is to much work. It may be good for you, but not my cup of tea. lol. Seller and buyer bandit signs are truly the business. Put up about 50 signs. Handwritten, 3 bed 2 bath $19,000 Cash 843-xxx-xxxx. Put out 25 tomarow, and 25 the next day. The higher you get them the better, Put out atleast 70 around you city and you will find a horde of cash buyers. get Google voice number and put a voice over on it. 5 bucks from fiverr… Google voice is free. Instruct the caller to leave their Name, Phone Number, and email address. It works everytime i tell ya. :dance Here is a video that helps you set up the whole process: http://www.youtube.com/watch?v=9fE3LNGWemQ
Once you have them in your google voice inbox, You have them for life. get more homes under contract, and blast the list via, email and text message. Texts message marketing is the business. Good thing about google voice is you dont have to pay for an SMS company to send out text messages. The most you will have to do is copy and paste the text message 100 times if your buyers list has 100 buyers in it. Then since you have gathered their email address, you blast out an email message to them with the click of a button. Tell them how to get in contact with you if they go to the property and are interested.
This way you dont have to speed all your time trying to sift out window shoppers. If they want it, they will have all the details to get it. Just my 2 cents.
I had a ride last year and it was not broken down like it is now. Last year I had no interest in real estate investing and was not trying to pursue that. Last year I was looking for regular 9 to 5 careers related to my degree.
Yes I know Oprah’s story of a hard life and how she went from rags to riches. She is inspiring. Bike? Bus? C’mon man you may want to get serious about that. I haven’t rode a bus in years and I don’t have a bike. Buses where I am from don’t run in certain areas and it takes way too long to get where I need to go because they make stops everywhere else but where you need to go. That means sitting at the bus stop for what feels like eternity on a super hot summer day down here where I’m from.
I’ll keep in mind winners do what losers won’t do. My pain is what got me interested in real estate investing in the first place. Again sorry if it sounds like I am whining. I do want to make it big. I am not use to any other ways to make it big other than the way I been learning how to make money in the real estate investing business.
Where is this endless, black hole of dread, impossibility thinking, and woe is me thread leading to…? Just asking… :banghead :banghead :banghead :banghead :flush
Yes there are more ways to profit. I only chose wholesale as a stepping stone because it is supposedly a fast and easy way to make a nice hunk of change. I don’t plan to stay with wholesaling forever and ever. It was only meant as a start then move on.
If it were easy everyone would do it! If it were easy it would not have huge rewards! If it were easy it would not build character and enderance! If it were easy would it be worth doing!
Every person here went through long periods of doubt, but we all got over it and went on, we perseveared, we set a goal and we stayed with it day and night every single day until we could taste it, we could smell it and we could see success on the horizon!
We were not losers, quiters or procrastinators, we did not complain (At least not very much) and we went on until we found success days, weeks, months, years and decades! We did what ever it takes to be successful!
In my early days of investing I would go 3, 4, 6 or 8 months or more without a deal, we did not have internet in 1979 or 80, there was no one to network with and no one to support investing, yet we pushed for success!
If you have come to the end of your rope and can truly say “I gave it my best” then walk away and good luck to you!
But if you have any incling you did not do enough, that you will regret for the rest of your life not pushing forward through the pain, through the bottom low times and if you don’t believe for a minute that your a quitter, a wash out and a failure then you need to dig deep and you need to find the resources and create a plan to be successful!
You can do it, but it takes more than one day, one deal, one week, 10 deals, one month, 50 deals or one year five hundred deals as you just have to stay until you hit that first success, that first payday, that first taste of success and that first ah moment, to know you can make it work for a life time!
If it takes 10 years to make that first $20k, then you made $2k a year to learn, but what ever it takes it will be an experience and a wild ride like no other and you will never regret that first 50 years of learning!!! lol
TBodley…We will no longer respond to self-pity. See a counselor or even better a good Faith speaking Church and have a good pastor pray for you. You need inspiration, courage and hope and you wont get that in real Estate investing. You need to do some serious soul searching because I personally sense that you are disconnected from your overall sense of purpose in life. You are looking for a fast way out and RE investing is not that, no matter WHAT some guru told you. It takes dedication, persistence and conviction. Seriously, find yourself a Faith church and get some prayer and look within to see what is it you REALLY are looking for in life. REI will never fill that void.
I appreciate that. It kind of seemed like something was about to look up for me. You may want to check your inbox again for July 27.
You are right in this way because the general approach towards investing is not sufficient.But i think that it is the best time too because prices are very lower and if we do investment and wait for the boom period then our investment will give us multiple time profit.
That is why I want to get a hold of every piece of cheap property I can get a hold of.