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Last month was a frustrating month for me, but I try to think of it as a learning experience. I had leads on two houses. The conversations sounded very promising; however, the both said another buy was also interested. I thought it was some tactic, but I kept moving forward. With the 2 bedroom, I viewed the house and of course it needed work. Put my offer in and accepted it verbally. The seller informed me days later that someone offered all cash. A few days passed and the seller told me the cash buyer was hesitant and that he wanted me to buy the house. On the day we were going to sign the purchase agreement, the seller called me two hours and said the cash buyer showed up.
The 3/1.5 house needed minimal repairs, but they were big ticket items like plumbing and HVAC. I put an asking price offer in for the house. It's been about a week and I still haven't heard from the seller. This seller has a RE business and I think it is very rude to not to respond to your costumers. The phone rings and rings, voicemail is full, and no reponses from emails either. Terrible customer service.
My next goal is to try to generate leads to me. I placed a Craigslist ad looking for house finders; I doubt that will work. Other than direct mail, I am clueless. There has to be a more time saving way than driving neighborhoods looking for empty houses.
Comments (11)
Brian Hoyt. I'm not a wholesaler either, but I wouldn't think random door knocking would turn up much leads; researched door knocking would be better. On the other hand, my current strategy hasn't gotten me one house so what do I know.
Shanequa J., over 12 years ago
Shanequa J., I don't wholesale, so no, I have not. I agree it could be nerve wracking at first, but believe that your confidence would grow. Who cares if you're all nervous and someone cusses you off the porch? Lol! The next door down has not a clue about the previous one. I have sold stuff door to door and found the worst thing that ever happened was I heard "no" a lot (making the yes's sound that much sweeter). But you have to get a lot of no's before you get yes's in just about anything worth doing. It can't be any scarier to knock on someone's door than it is for a guy to ask a girl on a date, and that happens all the time!
James H., over 12 years ago
Brian Hoyt. I will have to gain a little confidence to straight up knock on someone's door without being invited. Emotions might run a little wild and out of control for all parties involved. Have you did it or thought about doing it?
Shanequa J., over 12 years ago
Shane Woods I am getting discouraged; I'm trying not to buy another REO because I feel I can get more bang for my buck from distressed owners. A positive I learned is that I need to get them to sign the contract sooner. Another positive is that I'm getting better at talking to sellers.
Shanequa J., over 12 years ago
Maybe not a time save, but I have read wholesaler posts that they have had som of their best leads from door knocking.
James H., over 12 years ago
I'm not a psychologist, but it sounds to me like you're letting yourself become discouraged. I think the key here is to find ONE THING that is or should be a positive in this situation, and focus on that, re-evaluate your goals and processes to reach them. I have decided that I will not be discouraged. You need to do the same. Easier said than done for sure, but it really has to be a "switch" you turn on or off. Either you learn from each experience and pull something positive out of it for next time, or you get upset and lose focus. Can't let that 2nd one happen. Out of your two recent leads that didn't pan out, what are some things you learned that will help you next time? Any other positives?
Shane Woods, over 12 years ago
Shane Woods Most of them seem like good leads at first, but they never pan out. I put a "we buy houses ad on Craigslist" and will do a website; I'm not expecting a whole lot from either one. In addition to empty houses, I check out deliquent taxes.
Shanequa J., over 12 years ago
Thanks Josh :-)
Shane Woods, over 12 years ago
Not sure what happened with the link there. I tried. Copy and paste I guess, it's a great read.
Shane Woods, over 12 years ago
You were using BBCode, which is markup for forums. Since this is a blog post, you need to use HTML for formatting links. I fixed that link for you to Tom Tarrant's blog.
Joshua Dorkin, over 12 years ago
Hey Shanequa J., please don't be discouraged. If you KNOW you're going to do well in real estate, and you've done your research on your market, I believe you'll do fine. All it takes is one good lead. It sounds like you had a couple of marginal ones. What are you doing besides looking for empty houses? It can work, here's a good tutorial from <a href="http://tomtarrant.com/my-investing-tips/driving-for-dollar">Tom Tarrant's blog</a>/ I had an extremely limited marketing budget to start out, and decided a couple weeks ago the website was the best way to go to get SOMETHING started. I'm putting ads on Craigslist periodically that link to my site to drive traffic. I've had one lead in the week my site's been up. I'm viewing the house on Friday. I hope it's a "good" lead, not a marginal one. Keep your head up.
, over 12 years ago