All Forum Posts by: Matthew Perry

Build a little more rapport with them, and do not come right out and say I want to buy your house. That is the quickest way to get someone to disconnect right away, find out first and foremost if they are still living at the property you are calling in reference do, find out if they have three minutes to talk, and then find out as much information about the house as possible, leading to would they be interested in selling if you could come to terms on price, and close by setting an appointment to go out and look at the house. It maybe your script is a little longer than you are implying there but it sounds like you are not building rapport first and just trying to spit out that you want to buy their house. You are on the right track though in just wanting to make the phone calls. Think of the process as a funnel in that the more QUALITY conversations you have, the more appointments you will make, the more appointments you make will lead to closing deals. It is a process you will be tweaking, crafting, and continuously working on from now til the time you have had enough and are ready to not do this anymore. Do not get discouraged though and keep a positive mentality, you are already doing everything right. 

Hi @Gretchen Mather always great to see another Boston real estate investor on here. Any questions you might have fire away. In terms of marketing tips there isn’t one in particular other than just sticking with a plan you create. Feel confident in what your doing be willing to run with that. 

Hi Skyler, 

You are doing a lot of things right. My advice to you would be keep doing what you are doing just do it on a consistent basis, every day you should be trying to make phone calls, sending out letters, sending out text messages. There is not a set ratio for how you are going to find deals and in an ideal world you want to be pulling from multiple different avenues and approaches. When you get going you want deal flow from ad words, text messages, and direct mail. At this point though you cannot be casting too wide a net and just be willing to market market and talk to people over and over again. Do not get discouraged though because good for you for starting something and doing it. 

Always great to see some many interested REI folks from NC! I got my start investing in the triad area and have incredible memories, and I miss the state very much. I am happy to answer any questions you might have, but what a lot of people have said already is right on in that sometimes you just have to actually get started and go do it.

Hey Jon, 

Always great to see from the land of Tar Heelia. I actually got started in real estate investing right in the area that you in so you are in a great area to get your feet wet and grow. My first suggestion is to really figure out where you want to end up- set some goals for yourself. Then start taking some steps, find the key players in your area. Talk to them, find out how you can add value to them, and then you will be off on this journey. 

First create your why- why do you want launch your real estate investing business? The answer needs to be clear and make it so you can visualize it every day so it be of constant thought to what drives to do this. Trust me there will be days that do not go well and you will want a reminder as to why you chose this path. 

Second, create goals. These are goals that, if reached, will help you achieve your why. Quick suggestion here would be to make them tangentially related to income- for example you want to give 5,000$ to a charity of your choice. The reason for that is if you have prefixed goal for income you want to reach, once you have hit that goal you will not be so determined for more because you have already hit your goal. 

The why gives purpose, and goals give us the direction in which to go. 

Looking for an unscientific scientific pool here. 

Which would you prefer:

Option 1:  Pay the price get the package of how to become a real estate investor which is the "classes", the forms, the spreadsheets, the basic how-to-do day one you're a real estate investor  things. Cost: hourly fee or outright purchase of course

Option 2: Formal mentorship agreement  where no cost is paid out. However, profit sharing on deals is structured for deals brought on by apprentice. Tools, experience, and guidance offered via direct communication and playing to strengths that apprentice would bring to partnership. 

I agree with @Account Closed with his point about the message of the letter. You cannot start off by saying you are looking for a place for your growing family, only to go on and talk about the other units you currently own. I believe personalization is a game changer in this business, and the more you can make it about you, your family, and what you do separates you from the herd. I'd look at this way that this a first touch message and you are just trying to start the dialogue which then the message is less is always more. 

We have put a ton of money into core infrastructure to figure out where we should be looking. First of all, I am a data nut. Give me report after report and I will read them all day every day, and I am shocked when people are so quick dismiss even one little data point. With all that said we have spent a ton of money for data looking at foreclosure rates, banking rates, where jobs are being created, where jobs are losing out, where schools are seeing rapid raises in enrollment, where governments at the local levels have been tax friendlier, where inventory on the open pubic markets are not meeting demand, and house transactions. It is a lot of information without question, but I want to go to the places that have problems that can be solved with spending a little amount of time. I also like investing in places where few others are. From there we can drill down and know what to target, how to target, and perhaps most importantly when to target. I'd rather be twenty minutes early to the party, then get there as everyone else is, or worse five minutes late. It is hard because everybody wants to throw out wide nets, and there is a part investing that is about throwing out a wide net to focus on retention, but when he got tired of the stage we moved up to a whole other level. We been call one of our interns Big Data, because of how much he loves to dissect and disseminate all the points in a cogent thought report for someone to read. 

What is the one thing that is holding you back from where you want to be in a year? Is it discipline? Is it your team? Is it focus on one market?