All Forum Posts by: Jessie Bienvenu

Kara,

Exciting, Good luck!  There will probably be a bunch that come up from in your journey from here to there.  You've got a good start, the only one I see is getting your first project.  Some element of finace/funding in your team or somewhere, will soon prove itself to be of the utmost importance.

JCB 

Attend some REIA meetings, put together some packets on them detailing the investment and post them here on the marketplace or cantact Net Worth Realty in Houston. A couple off of the top if you have a deal the cash will come pouring through the door.

@Joseph Wiklanski

Enjoy the site Joseph, I'm here in SA as well, with some pilot buddies.  Podcasts and forums, specifically podcasts I think you will find very rewarding in the beginning, enjoy!  Let me know if you ever think I can help you with something.

Welcome,

JCB

Zack,

It looks like you are looking for them all under one roof, which I can't help you with but I can help you with the San Antonio market if you need just call anytime.

Welcome Phillip,

You've come to the right place. I would say take a look on meetup.com and get involved with the local REIA's. For hard money, two people I've met with good plans are @Zack Lofton and Scott Fleming of Texas Quest Capital, I'm sure there are plenty others as well.  Just let the sponge keep soaking it up.  See ya around town.

JCB

I use a Texas specific site flsonline.com

I also use a resource to call every lead I can, if I can reach them by phone great I would rather have my fingers do the walking.  But, I go knock those that I can't reach via telephone.

@Mark Graziano

It is going to be a lot of No's thats for sure. But, in my experience what you are looking for is a motivated seller.  That's the guy/gal who asked "Do you want to sell your home?" Replies "Yes, ....." So getting to that answer is your first way point in this equation.  

Did that lady from last night want to sell her home? Did she realize that maybe she needed to change her housing situation. If she doesn't, then your offer of 60% of the ARV probably isn't gonna open her eyes. But, what you have there is a lead a good phone number and some regular contact might eventually lead to a deal.

I haven't had anyone confrontational but, I've been treated like a pest or burden. 

I'm in Texas so for foreclosure properties are auctioned monthly.  I will only door knock those that are headed to sale that month. I also like to door knock those because I can identify vacant properties.  That is someone that has already gone out the door, that is a great lead.  I use a skip tracing platform to try and track them down and hopefully close a deal.

Your experienced guy's technique of disarming the home owner, I substitute I'm here to help, and that is probably the reason I've not experienced these confrontations.

Mark,

I would not beat around the bush about why you are there. I would learn about the options someone in that situation has, and how each option impacts them. If they have gotten that far downstream they are probably staring down the foreclosure cliff. I would develop the netwrok to help them cash buyers, other investors that would be interested in a Sub2 and the like.

I would tell them why you are there, "... you are headed to foreclosure I work with homeowners in your situation....are you interested in selling your home?".  Be courteous, informed, and you need to be truly interested in helping them with their situation.  That way you don't waste yours or there time, or muck up a realtor's name.  

It's not an accident your at their doorstep.  You are there to solve a problem and conduct a transaction.  I would present myself as very capable of accomplishing this.

When are you doing this? Afternoons and weekends will net you the most contact.  I particularly find weekday afternoons to be the best.

Do you know you if you are targeting the best prospects?  Make sure to spend this time, because it is time and fuel consuming, on prospects with at least 30% equity in their home. That is my two cents, and what has worked for me.

Thank you, everyone for taking the time to comment, and informing me of the legal ramifications and landscape of what I was considering.  Some lessons learned here for sure. I would like to say, that this is a case of me being overzealous.  I was not asked to, nor was it suggested that I attempt to bring in investors to this deal.  It was two people sharing there trials and tribulations from a day in real estate investing.  I was talking about an offer I had made was beaten out by 10k from another offer.  He was telling me about how one of the members of his group decided to pull out this late in the deal and he was going to need to replace his interest.  

I after the fact, thought to myself about maybe I could introduce two people that could benefit from that introduction.  Not trying to get involved in the deal.  But, as you guys have made it clear, on the sidelines of that one is where I belong.  I was just hoping to possibly create and strengthen relationships.

As you can tell by the inquistive nature of this post, I was not sure of how I should handle this ambitious/foolish idea I had.  Thanks, for everyone taking the time to reply to this, and providing me with some framework on how to identify an opportunity that is for me, and what to look for when an opportunity truly does present itself.