A Month In

[Deneidra DuBois]

Hello BP family! I'm Nina. I just started Real Estate Investing. I'm about a good month in. I have watched a ton of YouTube videos, free webinars, attended my local REIA group, and read some great books including Rich Dad, Poor Dad. I am currently in North Carolina where I will began wholesaling.

I'v already taken action and set up meeting with a buyer in the area. I know that some people find properties first then find a buyer. I wanted to go the other route locating a few buyers and finding out what type of properties they were looking for. 

If there is any advice from the more 'seasoned' investors out there please drop some knowledge on me! 

Thanks for reading! I know this will be a great year for me. Lets connect!

Nina-

[Karl Krentzel]

Originally posted by @Deneidra DuBois:

Hello BP family! I'm Nina. I just started Real Estate Investing. I'm about a good month in... 

If there is any advice from the more 'seasoned' investors out there please drop some knowledge on me! 

Thanks for reading! I know this will be a great year for me. Lets connect!

Nina-

Welcome Nina!

I happen to specialize in giving advice to brand new Investors, as well as Wholesaling Realtors® and I have a few ideas that I would like to share with you if you will forgive me in advance for the length! 

Three Types of Business

There is now, future, and maybe business. The Now Business comprises of people who have to sell right now!  They are the most motivated, serious people you can find.  They make decisions quickly and will take serious amounts off their home in exchange for a fast close.

The Future business is the type of business that you attract through direct mail.  Many times, in order to be extremely effective at the mailing game, you must be consistent, and do it over a long period of time.  You are investing in your future.  Many times, if you are new, you don't have the time to wait to get paid. 

Maybe Business is the type of business that you have no control over. Short sales, offers on REO property, auction property, etc. There is a great unknown over what will happen with these types of businesses as they are subject to other outside concerns.

How to Generate Business Now!

First, you have to understand the "Five Core Competencies."  The Five Competencies are Lead Generation, Lead Followup, Prequalification, Presentations, and Closing.

There are two ways to generate business.  Active Marketing, and Passive marketing.  

Active Marketing is actively going out into the marketplace and seeking someone who is looking to buy or sell.  Right now, within 5 miles of where you are right now, someone is looking to sell their home.  Your job, should you choose to accept it, is to find them!

Do this by calling FSBO's, FRBO, Expired listings, doorknocking, calling your center of influence, placing ads on CL, TONS of things you can do to actively bring a check to your door. It has high rejection, but will get you paid, paid well, and paid fast.

Passive Marketing is mailing, pay per click, running ads, things of that nature.  Things where you are waiting for someone to react to you.  It has low rejection, but it takes a long time to get paid, and will cost a lot. 

Work on Sales Skills First

It is tempting to want to run tons of mail, and tons of ads, and spend lots of money to get the phone to ring.  But what will you say when you pick up the phone?  Spend time now working on your sales skills through the tons of free resources available on BP as well as my blog.  

Once your sales skills are honed to a fine point, you will have the confidence you need to succeed in any sales environment! 

Again, congrats on your decision Nina, I wish you nothing but the best, and as always...

Have a Powerful Sales Day!