All Forum Posts by: Mohit Madaan

i keep listening about visiting Home Depot at 6 Am and talk to guys that are buying alot of stuff. Have you guys tried that method? i wish i could

i just came across this website called TransferWise it lets you transfer money from your bank account to some one else's where both banks have difference currency. They don't charge any fees or currency conversion rate.

I would just tell the tenant to use that.

@Michael Huey I can't tell if you are genuinely looking for help or just have some spare time to have fun with... either way, good luck with your campaign my friend

 I do not have permanent residence. I travel to US on business visas whenever i have to for my business.

hoping for better response than this... 

 I think i will respectfully have to disagree with you analogy about buying stock vs buying real estate in area where you visit/have friends or family. Real estate investment can require once in a while a trip from some one you trust which can come very handy if you have some one in the area.

You are right about Stockton, i would have never even thought about it but again having boots on the ground is equally important as finding good market.

@James Martino it says you are in IL, are the properties also in IL? i know alot of people like myself want to invest and have the money but do not have the boots on the ground to do all the work.

I think, your problem sums up in this one quote:

"Greatest business idea is worth nothing, if you can't market it right" Mohit M.

Hello Fellow BPers,

i just finished listening to podcast 154 where Bob talks about hiring interns who drive for dollar for his company and in return they get a referral fees if the deal gets closed, listening to this i just thought of business idea, that i would like to discuss with everyone.

Here is snapshot of idea that i think can be turned into a real business:

• Build an app for anyone to download and drive for dollars.
• Free to use, anyone can download who has time to drive and want to make some extra cash.
• When they find a distressed property, they mark the house on the app, including occupied or vacant.
• Backend team research the owners information from county records and send out mail piece.
• Sales team, find and sell leads of people who call back.
• Upon closing, the person who found the property will get a flat referral fees or Flat cost per lead can be charged for each consumer who calls back from a letter and % paid to original lead finder.

Here is why this really is exciting

• Nationwide scalability
  • Imagine launching a marketing campaign, something along the lines of "Make money while driving" lol, gotta be careful with that....
  • Basically, this can grow to hundreds of people willing to drive for dollars within matter of days/weeks.
• Amazing lead source for investors.
  
  • Alot of small investors might not be able to drive for dollars and would prefer if some one else did it for them and they just paid for the leads.
  • Selling leads to investors seems really easy.
• No time limit for drivers - There is a potential because the drivers can literally do this while on a trip to super market for groceries (but they drive everyday to same supermarket, lol)
• The website www.DriveForDollars.com is available at only $5,000 or so. Quite frankly, i am excited about buying this domain anyway for something to do in future.

Challenges i can think of right now

Above and beyond the normal problems with executing any business idea, i think these things can come in the way

• Not enough response from the mail peaces.
  • Imagine sending mail peaces to all the properties found by "Drivers" and not getting enough results for them to keep doing it. I know, the mail peace has to be researched pre hand to make this work but this could happen, specially because the mail peace is going out from a company and not from an individual and we can't put individuals name as the leads can't be pre sold without knowing how many leads will/can be generated in certain market.
• Not enough drivers signing up.
  • This could be a problem to start with as you need to spend alot of money to market this. Without any research/numbers i am not sure how many people would want to do this?

Just thought of all this in last 10 minutes and there is alot more to think/do before pulling the trigger but i seriously like where my head is right now regarding this.

Please provide your feedback @Joshua Dorkin @Brandon Turner

Few weeks ago i finished, Marshal Goldsmith's book "What Got you here, won't get you there" and during some point in the book, the Author mentions that he has witnessed 2 miracles in his life and that was the birth of his kids. My first response was, the guy probably haven't had fair share of fun in his life to experience some real miracle.

Oh boy, how wrong was i? Couple of days ago, i was standing right outside the operation theater at 4 in the morning for after about 30 mins, i heard the crying sound and it reminded me of Mr Goldsmith's comment about the miracles of his life. Even though, i wasn't allowed to witness the miracles but i have to admit, it was the most amazing sound i have heard in my life. Couple of mins later, the doctor comes out to tell me, "it's a boy" and couple of tears rolled down my eyes.... I have never been so happy before. Baby boy "Rhythm Madaan" was here....

Since i am going to be part of this community for rest of my

life, i just thought to share the news with you all. We are officially first time parents! Yay!

Hello Everyone,

Some of you may know me from my world famous thread i started a while back giving away free lists to telemarket & mail on. I got mixed reviews and like anything else, there are lovers & haters. The whole idea of the thread was to make some friends and get into US real estate market. I didn't send the list to everyone that requested because i got too boring for me to just keep sending free list.

Anyways, just to brief about myself. I currently live in a third world country and own a outsourcing business where we telemarket & provide customer support to companies based out of US, UK & Australia. We also do a little bit of back end work such as data entry, converting JPEG files to word, etc etc.

I was on a call with a BiggerPockets member this morning and he mentioned he hired a VA who is pulling list for him from county records that he is planning to mail on. He mentioned, the cost of VA to pull 1,0000 records was $97 and he is very excited about the list he got. I am sitting here thinking, i have unlimited amount of people i can hire at literally below $200 a month, there has to be a way for me use these resources and get into real estate.

So, i am asking you guys to suggests things i can do to get into real estate using this huge pool of talent i have at my disposable for next to nothing. The only thing i am looking for is, something that's scalable, for example - if one county has a website and a VA can sit down to pull lists but its only going to be a one time 30 hours job, this is a no go. Basically, i want stuff where i can hire a team and have them do this all day, all night.

Thanks for suggestions in advance