All Forum Posts by: Matthew Rose

Jennifer, I would recommend that you study up on everything to do with pre-foreclosures on this site, and also marketing for motivated sellers. Most all of the questions you have can be answered by studying the articles and previous posts. It may also be worth your while to study posts of recommended books to read on the aforementioned. Once you are well-studied on the basics, you can ask more targeted questions. Good luck!

I am interested in marketing to probate leads. Can you (or someone) explain the reason given for 'needing to be sold before going into probate?' I thought this is not something you can avoid by selling before probate starts. But I am not well educated on the subject, appreciate any input.

I like the T-shirts idea, I'd like to try it. Wondering if I could bribe the homeless guys panhandling at the intersections to wear my shirts : )

Kim, I think your head is in the right place. I myself am solidifying relationships with local wholesalers, but with me being the one to bring in the deal as a seller lead. I also do have some marketing $$ to spend.

At the same time, I am trying to grow my buyer's list, which I can then leverage for working with wholesalers to sell their deals, with me not actually having to close them. These are viable strategies. Common practice where I'm at is to sign non-disclosure/non-circumvent agreement to avoid getting cut out of a deal. Bottom line is you should do some background work and build some trust before partnering w/someone.

As a beginner, hopefully you've started networking at your local REIA, in addition to reading everything you can find on wholesaling on this site. You need to get to know other investors, then at some point show you have started taking action, and get those more experienced investors to help you close a deal.

How to form a buyer's list with no $?
1) Network at REIA's (above)
2) Network on this, other REI sites, and venues like Yahoo groups, etc.
3) Go to foreclosure auctions & get to know who the cash buyers are & approach them to be on your list.
4) Call landlords on for rent ads or who put out for rent signs in your neighborhood and see if they want to buy more properties, etc.

Hope this helps

Peter, we are in the same boat as far has having FT jobs and goals of getting out of the rat race. What I've found is that using marketing to drive sellers to either an answering machine or website works just fine.

On my current lead generating campaign, using PatLive messaging service (not saying use them, sure they're are tons of similar out there), I've had maybe 2 out of 10 hang-ups. The call report will reveal the phone nos. that hung up, if they do not have caller ID blocked.

In the past I've used a 24 hr message linked to an answering service, and honestly can't say if it's made a difference. They are basically just taking down info & helping you 'screen-out' leads, and I admit it may make you appear more legitimate as a business to some people. But the actual lead conversion occurs when you are engaging with sellers directly and proposing how you can help meet their needs. No way around that.

Hello everyone,

Have an interesting opportunity I'm working on now, although not what I expected based upon my marketing (seems to always be the case).

A little while ago I started doing postcard mailers to delinquent tax owners of vacant land, with the intention of doing land flipping. I started in my home state (HI), but decided to also do test mailing to out-of-area owners of props in OR state.

Well now I have a motivated seller OR state lead, who currently lives in CA. Although I only mailed out to vacant land owners, his parcel happens to be next to another he owns with an A-frame cabin & build-outs (garages, shed).

Not being sure what to do to make this deal work (without ME having to work too hard), I decided to contact a local area realtor. I explained the situation, and that I wanted her help to market this prop once I get it under contract, with intention to assign my interest for a fee to whatever buyer she could bring in. I am in the middle of sending her info to try and get a quicksale price that I can back into to negotiate my offer to the seller. The seller sounds happy with my intentions, & agreed to let me send some pics to the realtor.

Now, here's what I'm not sure about: I get prop under contract, put into escrow, realtor markets for buyer, once buyer comes in, I assign & get paid. At least that's the plan. But can I legally have the listing agreement with the realtor, or doesn't that have to be with the owner? My preference is to minimize any interaction between owner & realtor, if possible. I know already the seller will know my fee revealed on the HUD-1, but think he'll be OK as long as I'm not too greedy.

Appreciate any feedback or suggestions, especially if you've done something similar. Also, please don't hesitate to point out something you see as an obvious mistake or oversight on my part, I'm still learning.

Hi Oscar,

Please don't take this the wrong way, but I think you may be succumbing to paralysis analysis, in studying your other posts. I've been through the same situations in overcoming anxiety to just get started, to hell with the technicalities. 'Ready, fire, aim' as they say. I'm still in the growing pains stage, but what helped me get momentum was to focus on marketing for seller leads, and once I found a promising one to enlist an experienced investor for assistance & profit split.

That way you're not getting caught up worrying about what type of contract you need, for what, when, etc.

Right now I'm networking w/other wholesalers and proposing partnerships on leads or deals I bring in. I would recommend as a beginner that you should consider something similar. Maybe bird-dog first, then move to partnering, and evolve from there.

Hope this helps.

Awesome & inspiring Steve, good for you! And way to go RobTheHouseGuy!
Hope I make this type of post soon.

This question is very basic, lots of angles I guess to answer from, but so far is making a great thread!

As someone who is still treading on the path to financial freedom, I think of it in terms of the right type of goals and mindset required in order to succeed. Getting clear on what your WHY is for wanting to be financially free, so that when the going gets tough, you still are motivated by a big enough WHY.

Staying focused is another challenge, in order to stay on task and make tangible results in business building, without getting side-tracked too much by business methods or deals that don't fall into line with what you are currently trying to master.

My own personal challenges involve dealing with working a day job, being a husband & father to 2 small children, having a wife who also works (part-time), and an elderly person we take care of (wife's grandma). Some other big ones are dealing with the 'dream stealers' who just don't understand what it is you are doing or think you are nuts for jumping into something they perceive as abnormal. That's why I think it's so important to connect with like-minded people for encouragement and team building. BP is a great way to do that!

It has been a roller coaster ride for me at times, but I am starting to get more clear and determined to keep at it until I succeed.

Honestly, I can't really say on whether or not I am 'passionate' about real estate per se. Past history has shown me to be very good with creative business strategies, and I have a great sense of accomplishment when plans I make succeed. REI to me is just another business project, but this time it's run and owned 100% by me!

I do sometimes come across what appears to me to be contradictions with some of the psychology. For example, in the Secret, talking about the law of attraction, it states that once you envision your goal or what it is you want, and believe that you've already got it, you will receive 'inspired thought', and that you should act on it. This action, however, supposedly should be something easy to do, because it makes you impassioned and exhilarated. This seems very different from the other school of thought 'feel the fear, and do it anyway.' I know for me when acting on opportunities that sometimes appear to have 'manifested' from my intention, I've been shaking in my boots sometimes for fear of screwing something up or not knowing what to say/do, but I still 'do it anyway.' How can you succeed at anything new unless you are wiling to work through fear?

Hello Mitch,

I've actually already ordered your book, still waiting for it to arrive. I will probably post a review too once I've read/listened to it (got the audio one too). So yes, I'd be interested to hear your pitch to get me warmed up before I dive in :lol:

Anyway, glad to see you here on BP, I'd searched for you here just days ago, so perhaps you picked up on my telepathic request to join :cool:

So, when you coming out with the movie? It's about time we have a 'based upon a true story' dramatized movie about how a successful RE investor started out and finally made the big time.