All Forum Posts by: Chase Hancock

Thank you @Jeff Rappaport that was some really good information. Like @Jay Hinrichs was saying about sales and marketing, what do you recommend that I can do to gain some extra sales experience on the side? I used to do a lot of cold calls from a freight broking job so I have some sales experience. But not a ton. My plan is to get one deal, then with the money from that deal, I can scale it and put it all into marketing generating more leads. 

Thanks @Ryan Spinola I think I am going to call some FSBO's. I want any experience I can get.

@Jay Hinrichs That is a skill that I will learn as I go. Someone who got their first job at a car dealership most likely knew nothing about sales but learned in the process. I work in a restaraunt and we have to sell specials. I was terrible in the beginning but 3 years later i'm the best one they have. No one gave me training, I learned through trial and error. Plus REI is my life dream and there is nothing else i'd rather do. I know if i give it my all and never give up then i will succeed. Getting a job at a car dealership to learn sales is not an option for me. I am open to an online course or a good book on sales to sharpen my skill.

@Jay Hinrichs You are right in a way. But heres my thing, a lot of people end up spinning their wheels and not getting anywhere because they are stuck learning as much as they can but not taking any action. You never can really learn anyways until you get out there and start learning through trial and error. A lot of other RE investors also say that the most important thing you can do is get your phone ringing and then learn from there. So I'm going to jump into this thing and any obstacle that gets in my way, I'm simply going to find a way around it rather than spending a ton of time reading and not getting anywhere trying to avoid the obstacle. 

@Nathan Schoenborn Yeah you're definitely right about that. I am going to do that because I don't want to schedule an appointment no matter what just to cancel on them and hurt my reputation. Telling them that I'll call them in the next day or two works out better for everyone and allows me to gather my numbers and find out where I need to be. Because if I'm on the phone and trying to find the ARV and figure all these things out then I'm not listening to the seller.

Today I just sent out 100 mailers to absentee owners. Now that I have about a week before calls come in, I'm a little confused as to how the rest goes. I have an app in podio where I am supposed to input new leads and it screens the caller. If I am near my laptop when I get a call, my plan is to answer the call and start inputing their information into the app and asking them questions about the property. Now I feel like I really won't be able to know if it's a possible deal or not until I get off the phone and run some comps on the property. So here's my main question: is the main goal to schedule an appointment to see the property even when I don't yet know if it is a possible deal or not? Or do I need to make a quick decision during the call whether or not the property is even worth viewing. I tend to overthink things but knowing this will ease my mind.

My girlfriends dad is an excellent handy man who does anything and everything. I know he'd be willing to help me out so i'll utilize that and bring him with me to check out my first possible deal. I don't know why I didn't think of him.

Thank you!

So for the past month I have been doing serious studying into wholesaling and gearing up to start marketing in the next week or sooner. I have been listening to a lot of flip2freedom's podcast and I'm going to take Sean's advice and jump in and start taking action. I lack some knowledge on rehabbing and estimating of repairs so I'm not quite sure what I'm going to do when it comes time for me to figure that stuff out when the deals begin coming in. I wan't to make sure I have a very solid deal and that I'm confident in my numbers before I begin marketing it buyers. The last thing I want to do is start marketing a ton of mediocre bad deals.  Are there any wholesalers who have been in the same boat before but managed to figure it all out? If so, I'm curious to hear your story and would love any advice possible. 

Thank you in advance! 

I am 20 years and I live in Fresno, CA. I wait at a restaurant and I bring in about 2k a month from my paychecks and tips combined. I really want to just buy a small multi-family home already and start house hacking. I'm curious if anyone knows if i'll be able to qualify for an FHA. I owe around 9k on my car and thats my only major debt.

I'm new to all this too so I'm totally with you. I just recently met with a mentor and he said to just start by looking for deals and he'll help walk me through them. So what I suggest that I think is the most important first step is to find a mentor. Offer them that if you find a deal and if they walk you through it from start to finish then split the profit. I'd do that for the first 2 - 3 deals until you catch on. If they have good intentions, they'll help you with everything. Then you can go on and do it yourself.

Where would you recommend one begins to learn the local market here in fresno? And yes definitely starting to network with others in town. I can already see how much it really helps to talk to someone in real life.