Tired of wasting time-NEED ADVICE!

General Real Estate Investing
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Okay, so I am finally ready to do this real estate investing thing…Here’s the problem.

I have 3 small children, and am 8 months pregnant with the 4th. I am NOT okay with once again putting off investing until this baby gets here. I am ready to meet with sellers, and get the deals we both want. The problem is, that I obviously have limited time to devote to finding motivated sellers. I can do dials at night, place ads, buy signs, etc. I just don’t know which one to do!

We have little/no money in savings, and poor credit-neither of which will stop me from at least trying to do this. I plan to eventually take on rehabs-but I can’t physically do that right now ;)…So I want to flip a few for fast cash. I am willing to jump in there and do the negotiating, but what is the best way to look for potential sellers (oh yeah, and people to flip them to)…?

I just hate the idea of being viewed as a sleaze that put up those ugly signs all over the place, and get no calls!! Any help is very much appreciated-and needed!! Thanks, guys-and gals…

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Of all the marketing I’ve tried:

  • Cold calling FSBO/FRBOs is brutal on the nerves. But it has yielded me the best results in terms of serious interest as well as closed deals.

  • Signs pulled the most calls for the cost, but they involve a lot more work and stress to put up than you might think. Personally I don’t much care for it.

  • Postcards are next best in terms of cost-per-lead, which is about twice that of signs. Depending on who you mail to you reach an entirely different audience than signs, so there’s no problem working them both at the same time.

  • Newspaper ads are excessively expensive and yield the fewest calls. Also the calls tend to be from sellers in extreme denial. I also got a lot of calls from people who wanted me to loan them money so they could stay in their house.

  • I’ve never got any calls from business cards, bulletin boards, flyers, car signs, or networking.

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Doug-
Thanks for the response! I’m just unsure which way to go. I’m sure that certain things must be factored in, like area, etc. But we have lived here for 2 weeks, so I’m not that familiar yet.
I looked through the local paper, and saw NO types of these ads AT ALL! I found that strange…But maybe good? There is the occasional billboard, but haven’t noticed any “yard signs” yet. But you can’t imagine how little I leave the house with all these kids…LOL!

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There aren’t any “we buy houses” ads in my paper either. Occassionally someone will run one for a few weeks, but they quickly discover what I mentioned and cancel it.

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Hey hows it going PerkinsMom? Congragulations on the 4th child thats on the way… thats great! And congragulations on finally deciding to take action in Real Estate!

To be honest with you im just starting off in Real Estate also, and im birddogging for one of my buddies whos teaching me the business… I dont know how everyone gets started in the business but my buddy whos mentoring me tells me that the most important thing to do in this business is TAKE ACTION…Read a few books on wholesaling, read the forums, have someone mentor you first hand in the buisness if you can meet someone, join your real estate club, possibely buy a seminar on wholesaling if you have the money… and get started… He tells me that once you have a good understanding of the business slowely take action… for you i think the best thing to do would be to start putting out some signs in desired farm neighborhoods ( check laws and ordinances first to make sure you wont get in trouble), also since you said you dont have much money in savings i would suggest talking to a lot of people and telling them exactly what you do… word of mouth is very cheap… acually its free… make sure you tell everyone your in the business of buying homes… buy some buisness cards if possible and pass them out to everyone… I think if you put out some signs in some good spots… tell everyone what you do… pass out buisness cards… and network with some people at your real estate club you will start getting calls from motivated sellers… once the moneys right you can start looking into mailing campains, flyers, postcards… all that other good stuff… but for now i think that would be good for a beginner… thats what im doing :slight_smile: Well i hope that helps a little… like i said im a newbie in the business also so make sure you consult with some of the experts on the site they can help you out a lot better than me! Best of luck

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Need some advice!!!

Visit this site…i hope it can help…

http://www.wannanetwork.com/

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PerkinsMom,

As a home schooling mother of 3, I feel your pain. But you’re about to move into new territory for me!

Regarding how to get started while 8 months pregnant and raising 3 other little ones, I have one website for you:

www.webuyandsellhomes.net

Scroll down and click on the “real estate investors” link on the left-hand side. Then click on “lead subscription service”. About 3 quarters down the page you can choose your state for $39.95

So why do I suggest this website? It’s NOT mine, I’ll tell you that upfront.

These guys are based in North Carolina and advertise nationwide.

When a buyer or seller fills out the information on their website in, say, Georgia - then everyone who has signed up in Georgia gets the lead in their email box.

It’s early bird gets the worm on this one! However, since most investors are content to do nothing, I find that I am often times the only person to call on a lead.

Weed out the ones in areas you don’t want to buy in. But the ones you decide to pick up are fantastic.

I’ve purchased at least the last 3 houses I own off this site and it’s paid for itself for the next 20 years if I wanted. Plus, I get about 40 leads a month or so.

Otherwise, here are a few short and sweet suggestions:

  1. Don’t worry about signs right now. It is VERY labor intensive, expensive, and depending on the code enforcement office, possibly illegal.

  2. In my experience, direct mail gets more calls than any other marketing technique. But it requires time and research to do it right. However, if you’re spending a lot of time at home, that may be the ticket. If you’d like more information on direct mail, ask me and I’ll go into more detail here.

  3. Invest in some business cards. www.frequentflyerz.com will design 5000 really nice ones (UV coated, double sided color, high gloss) for $299. Leave them at every food joint, bank, McD’s, and everywhere you go. They’re cheap to order, free to put out, and can result in you getting leads before others.

  4. Don’t worry about cold calling. It’s unnecessary, depressing, and not an effective use of your time.

Once you start getting leads from the site I mentioned waaay back when I started this post :slight_smile: you can call the ones you want and prescreen them. Then, once they fit your criteria, you can make the appointment to go see the house if you want.

Hopefully this will point you in a positive direction. I will agree with SteveRaiken. Action is the best first step.

I applaud your willingness to get started and look forward to hearing great things from you!

Big Cheese

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Check out Ben Innes-Ker course. Motivate Seller Magnet. It’s been in the top selling list every month in 2006 and more I think. I have it and it makes total sense. You need to free up yourself and NOT cold call everyone selling property in your county. Just run a few test ads and setup call capture system. Work the system and let it find you deals. It’s called Direct Response Marketing.

This is just my 2 cents on what you could do to work less. Now here is the kicker: http://stores.ebay.com/Cool-Real-Estate-Investing-Tools
Someone is selling just the meat of these courses for WAY below what their worth. As a mother of 3 soon to be 4 you might find this VERY useful. A deal is a deal NO Matter where you find it.

Congratulations and continue to prosper.

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  1. Invest in some business cards. www.frequentflyerz.com will design 5000 really nice ones (UV coated, double sided color, high gloss) for $299. Leave them at every food joint, bank, McD’s, and everywhere you go. They’re cheap to order, free to put out, and can result in you getting leads before others.

thats pretty expensive for card isnt i get mine from http://www.vistaprint.com/frf?frf=619316311354 you can get the first 250 free pay shipping and 5000 is only like 80 bucks

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nbeaman,

I pay more for my cards because it’s the first impression that buyers and sellers have of me and my company.

When you first start out investing, you have a decision to make. You can choose to look like a mom and pop organization and get the “just like me” vote from your sellers, or you can choose to look like a large, successful investment company.

Because I buy subject to the existing mortgage, sellers have to know without a shadow of a doubt that I can take over their payments and make vacant house payments for the next year if necessary without damaging their credit. Therefore, it’s important that I look the part, all the way down to my business cards.

Whichever way you decide to go, there’s nothing wrong with it. I chose to be a little more expensive with my cards in order to evoke a certain feeling from the seller, that’s all.

I use to get my cards from Vista Print, but after complications with a batch of postcards they sent me with purple skies instead of blue and the cacophony that ensued, I choose to go elsewhere. At some point I had to realize that my time was more valuable than the money I was saving dealing with getting the stuff straightened out each time I ordered from them.

Big Cheese

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That is point well taken mr cheese. Thanks for the advice.

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…That’s MRS. Cheese. :wink:

And you are always welcome.

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I think you’ll find that “Mr. Cheese” is actually “Ms. Cheese”…she has a pink, female gender identifier! Check the website for more details!

Keith

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:-[ Im so very sorry about that i see the pink thing now. whoops will you ever forgive me?

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I will…it’s up to Rachel as to whether she will or not, but I’m willing to bet that she will…

Keith

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LOL! …Just don’t let it happen again! >:(

It’s quite alright. There’s a picture of me on the website in case anyone’s in doubt. :slight_smile:

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if you do decide to do a direct mailing campaign you may want to find out if your county or state has a website as you would be able to find evictions, divorce,probate, and forclosures all at home…here in WI i typed in my county then circuit court searching threw google and it saves a lot of time as it works for every county in the state

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You mean something like this. http://www.wrdaonline.org/./ListOfOffices/Index.htm

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Even though you called me a man, nbeaman…I’ll still try to help. :slight_smile: Are you in the Atlanta area?

If so, there are several websites you can use to find foreclosures. Unfortunately, we don’t get an NOD list here. We’ve got 21 days until they go to auction and that’s that.

For probate and divorce here, at least in Gwinnett County, you have to go through each case to find Smith vs. Smith or something like that. I have found a building downtown that will tell you when folks are getting out of their bankruptcy, but that’s the closest I’ve come.

And trust me, it’s not for lack of trying! :slight_smile:

Big Cheese