All Forum Posts by: Rosie Nieto

Hi Victor,

As a L.A. real estate investor club owner myself, I can say that I am personal friends with both Invest Club for Women and Investors Workshops. They are both outstanding REI Clubs and highly recommend you attending both.

We are buying a property in L.A. and it is in REAP right now. Does anyone know how I look up the violations or file?

Thanks!
Rosie

Hi Ryan - it seems you are (literally) asking the million dollar question that is on every investors mind and agenda....

I paid good money to learn a system for marketing to potential private money investors.... and am happy to spill the beans a tad (after all it is a whole strategy in itself! Way too much to share in an email.)

You are on the right track:

First - I assume that you tell everyone you know that you are a successful real estate entrepreneur and that you get deals at almost 50 cents on the dollar and are always looking for people who want to make 9,10 or even 12% on their money. And I mean telling everyone, your friends, neighbors, your dr's, dentists, dry cleaners... everyone! Hand out your business cards that say such!

2nd: Direct mail. Buy a targeted demographics list from a list broker. Market to the list (I use postcards), give them a "free report on private lending" (you can write it yourself), once you have enough people interested hold an informational ONLY meeting. NO SELLING. Do not sell your company and what you will do. People don't like to be sold about their money like that. Just teach them what it means to be a private lender in general. If they are intrested in discovering more you will know. (Basically soft sell)

Having a business plan is a must. Good for you!

You will start to generate solid leads and folks who want to invest with you.

Since you are already successful as an investor - you will be able to show your track record -which should make it easier.

So there it is. That is my 3 minute version of the 2 day Raising Private Money workshop I had at my club in July. Sorry I cannot be more detailed. Bottom line, it is a whole marketing campaign that you must be on all the time... Talking to everyone and sending out direct marketing... Have a solid record. You will get the money. No doubt. I see it everyday. Almost every successful investor that I know is only using private money now.

Good luck to you! :wink:

I formed my LLC with Legal zoom. It was a piece of cake and they are totally available for questions and changes.

EIN # online is a piece of cake too!

For postcards I use click2mail.

For yellow letters:
I had a local printing company print my yellow letters on actual yellow legal pads for about 1000 copies - plus print my envelopes in my own handwritting and I was charged about 75 bucks believe it or not!

Then I have my 13 year old nephew stuff and stamp them for about 25 bucks for about 4 hours of work every 3-4 days(slave labor).

Batta bing batta boom.

Matty and Will! You very very bad boys for not inviting me to hang out with you all yesterday! Me likey drinks and burgers too....

And Will - You just spoke at my meeting last week! What they hey man? You owe me at least 3 Kettle One Martinis! :roll:

Hey Matty!

Too bad I missed you at that REI Meeting last week! I just couldn't get there in time. :roll:

I have to say that I’m have not been concerned about how much more prices will drop in order to do deals. There is (starting) to be good REO deals right now in L.A. - however... I have not been rushing to get them unless I can hold long term if I have to.

I took Bruce Norris' REO bootcamp in January (it was the bomb!)and have since been gung ho on buying REO's. My plan has been to retail for now, until I come across the deals that are good enough to hold.

Now - I see that I have become a little scared because I am not seeing that people can get loans to buy the houses from me. I have people with a 750 fico and 10-20% down who cannot get loans. I had a measly $100K house that a buyer could not get financed on for over 5 months :cry: . Mind you it's not in a good area at all - so the quality of the buyers is not very good...I won't do that again! Looks like I will be owner financing this mo for a good couple of years.

Now, I am raising private money so I can hold the properties that do not sell within 6 months and just do owner financing with them until the credit crunch loosens and buyers can cash me out. I can also use the money for the properties that I want to hold long term.

Bruce does say don't wait for the market to drop. And I listen to him! The extremely successful "ol time" real estate investors that I know have become rich because they are the working their butts off during the "hard times" of the market.

There is always a way… I love creative real estate!

- Rosie Nieto

David - I agree with you. Keeping it simple is the best way to go rather than some highfalutin system. I used to use a product called MyRealtyData and it worked really well - however they changed their system on us and I kicked it to the curb. I've also tried another system which I can't remember the name of it - (Marko's system) and don't care for it. All of these cost money each month to use... so forget that.

Right now - to keep track I have organized it the old fashioned way of putting in on a calendar (outlook), however I don't like it as a full proof system.

I used to use ACT and love it, so just recently I decided to get ACT up and running again and start using it to manage my mailings and leads.

I like ACT because I can use Real Quest with it. I'll let you know how it turns out.

Does his Mentoring program also cost you money to join it?

If it does and he is also taking 50% then I say run run run as fast as you can. This is a rip off.

If he is mentoring you with no upfront monies and his "fee" is 50% of the deal then I do not see anything wrong with that. Please just make sure you are getting a great coach - so you don't waste your valuable time with some clown.

I have endorsed a couple of great coaches who offer this program and I really like it. This is good for the student who may not have the money to start a coaching program; however has the drive and ambition to become successful.