Looking for Mentors
Hi Brandon, My advice to new investors is to start wholesaling properties. This is the quickest and best way to get started with the least cost.
First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. There should be some. Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close.
Many times the owners don’t update their mailing address with the county so you may get the letters returned. I use beenverified.com to get the most updated info. It costs me $24.95 a month but it is well worth it because it also gives me email addresses and phone numbers.
If you are going to buy the property, fix it up and then either sell it or rent it then you are through.
But if you want to wholesale the property to another investor, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then again go to the assessors website and find their name and mailing address. And again use beenverified.com to get the best and latest contact info.
Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.
Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'
I hope this helps.
Steve Anderson
Hey @Brandon Moseley Here are my thoughts on mentoring that may help you. First I have friends who swear by mentors and that one person who you can learn from.
But for me I never felt that way. I like learning from a lot of different people without the expectation that one person is going to take me under their wing. But no matter what your perspective is there are many ways to get that support and guidance you seek. Here are a couple of ways:
- You don't need to meet someone to be mentored by them. When I was getting started and still to this day I am mentored by people I have never meet. Through books, memberships, and podcasts I gotten peoples' best thoughts and ideas. The best part is that they are there for you to review and revisit as much as you want.
- Don't look for one look for many. Don't put so much pressure on one relationship. If you're only getting advice from person you're missing out on different points of view.
- Be specific not vague. Ask very specific questions here on bigger pockets or else where and you will shorten your learning curve.
- Earn respect and trust through action. If there is someone out there that you really want to learn from you have to be a devoted fan. So buy their books, join their programs, engage in their community.
- Work your butt off. Hustle, problem solve, be resourceful, and be consistent.
