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Updated almost 5 years ago,
Next Actionable Steps for a Newbie
Thanks for any insight in advance! The last two weeks I set out within my immediate market, driving for dollars and finding distressed properties. I targeted areas that were around economic engines, within neighborhoods or areas that were beginning to turn (about 25% of the houses were renovated/rehabbed and the surrounding area is undergoing development). Now I have a list of about 150 houses that I believe have the potential to become valuable deals if the seller is motivated. I have a general plan that consists of:
1. Cold calling this list to find out if they have any interest in selling
2. Walking the properties with the motivated sellers
3. Discussing if they would be interested in seller financing or a wholesale (all-cash deal) scenario
4. Connecting with a closing attorney to acquire and organize all the legal documents associated with either route discussed in step 3
Are these the correct initial steps that I should engage in to get started and gain foundational, learning experiences since I am brand new to the industry and have limited capital to work with? Also, can I get in trouble cold calling this list that I have skip-traced already if they have applied for the "do-not-call-list"?
Thanks again for any response!