Driving for Dollars - New Investor Problem

[Andre Vitalis]

Hey BP fam, I believe i am suffering from analysis paralysis. I have not done my first deal yet. It's only been 30 days since i decided to become an REI. I've joined and attended 2 local REIA meetings so far and have made some great contacts. While 'Driving for Dollars' in my neighborhood, my offline lead generating strategy, i came across an abandoned home which retails on Zillow for around 400k. I had another investor run the comps for me and he suggested the offer i should make on the property. I have the owners addr. but no phone #. The other investor suggested i just go knock on the owner's door and talk to him. I'm not worried about what to say to him but i am worried about my own credibility in the matter. Right now i have no infrastructure, no business cards, no website, no nothing. My analysis of this situation is stopping me from going over to the owner's home to negotiate a deal. What do you all suggest i do? How did you approach that first deal with a property owner as a new investor? Thanks in advance!

[Damarius Gilbert]

"Driving for dollars" is the main strategy I use. I started off typing a letter and leaving it on the door, with huge header that said "NOTICE!!!",  and under that a nice 5 sentence pitch, pretty much saying if you are interested in selling give me a call. I keep a excel spreadsheet where I write down the address and look up the owner on tax appraiser website and write a genuine professional hand written letter. I also use zillow and other websites to call up rental properties asking landlords are they ready to sell. Only if they have more than one property. You can find absentee landlords that way also. Just run their name through tax appraiser website.  Shows you everything they own and where mail goes too. Those the ones you highlight. Make sure you have buyers list first. You got to have your ducks in a row when you get a property under contract. Good luck and never give up.