All Forum Posts by: Ryan Donohue

Brian, I sent you a message about upcoming properties I have.  I'm glad you posted as we'll be looking for investors on these properties soon.

@Account Closed welcome from another North NJ investor! My suggestion to fellow newbies(yes, me included) is to educate and learn about different aspects for about a month or two(max. don't get hung of learning every detail). Then take time and really narrow down on a focus area and take serious action. Nail it, then scale it. I probably took a little longer than I should(4 months) until I sent out my first direct mail campaign(I'm wholesaling). I realized I don't need to take every step into account and I'll learn as I go. I also highly recommend finding a local REIA because they're amazing for networking and picking up local tips. Feel free to message me anytime about any people resources you might need in North NJ. Good luck Tom and I hope to see you around the forums some more!

@Sunny K. welcome to BP, you certainly found an excellent source for guys just starting out(myself included)!  To answer your questions to my current knowledge: 

(1) Is my location/criteria above too narrow or too broad ?

-I'd say there's nothing wrong with digging deeper and research each of those areas but definitely you'll want to narrow in on a certain county(s) for your first few(my opinon).  Think about how much travel you'd like(i.e. a water heater breaks in Texas rental and you need to be on site for an eviction in NC the same time).  Maybe once you have a few in one area then snatch up another and start over so you have groupings in some hot areas?  

(2) What are some ideal places/zipcodes in the above cities/states that are worth diving into ?

- I have a few for each city that I found interesting, should I create a new post for each city for further discussion?

-I'd really narrow down the criteria you're looking for with cash flow you'd like, budget, vacancy you can afford, repairs your willing to do yourself etc...Personally, I know theres a few areas that are hot now from Montclair NJ to Bloomfield NJ.   

(3) What do I need to know before my 1st deal so I won't screw up 

-I havent done one yet so I cant speak to loudly about this but I'd just say to know the numbers until you're blue in the face.  Make sure you have done your homework on that house and know every piece of information you can in the area and have a good network of people local to bounce things off of.  (Feel free to PM if you're interested in meetups in NJ)

        I wish you the best of luck and congrats again on taking your first step by posting and taking action.  Everyone is very helpful here and dont hesitate to reach out.

@Stefanie A. I got about a 1.5% response on the first mailing.  Feel free to message me about any questions you have.  Dont worry about putting too much thought into the actual verbage on the postcard...follow tried and true templates on the mailing websites! 

@Stefanie A. congrats on taking action! It took me a little while but I finally did it about a month ago myself so I might be able to shed a wee bit of info on pricing and such.

1-I used listsource ~400 leads for about $80.  I heard that theres a ton of others(I have a list somewhere I can send if you'd be interested)  but I liked the ease of listsource.  But bewarned that I did some spot checks on my list with the tax assessors and found that the list I purchased was OUTDATED.  

2- So I spent about $80 for the list and $245 for a total of 500 postcards TOTAL TOTAL was $325.  

Feel free to message me on any questions you might have.  I used yellowletterscomplete for the mailing/postage.  

@Crystal S. Welcome to BP and the real estate world! I was in your shoes not long ago eager and hungry for some action! Stay with it and network, network, network is my suggestion. I hope to see you around the forums more and maybe a few REIA meetings in the area. Theres one in Newark that's really awesome that I go to. Feel free to message me anytime on ANY questions. Good luck!

@Terri King How'd this turn out? We're about to submit an offer to Owcen in NJ. 

@Clifton Mallory Welcome to BP! My tips to new guys have changed over time(I'm new too since Dec of 2015) so as of now I would absolutely agree with @Trexie E. that you should look for local REIA meetings. I've been going to one near me and the information they provided me is priceless. I'd recommend just going and say "I'm a wholesaler in _____ and have been doing ____, What do you do?" and go from there. I'd try to find a out of the box tip you can provide a few people in hopes that you build a good relationship and are able to possibly partner in the future. I hope to see you more around the forums and good luck!

@Gurpal Cheema I would reach out to the owner stating what you mentioned(You tried reaching the realtor but unable).  Phrase it that you're interested to know more about their situation and what they need out of the house then followup with how you're able to help and their options with you.  Just gather and provide information THEN only ask if they'd be interested and go from there.  Remember: THE OWNER IS A PERSON TOO! It never hurts to just talk to them and find out more information.  One big tip is that everyone is in a different situation and building the rapport of finding this out is key to a purchasing relationship.  

WOW! @Ryan Heywood thats awesome!!!! What do you use to design your postcards?  I  I like the idea of having a color picture but budgeting is a little tight now so I think I'll make those suggestions and add some more zazz on my next round! I do have photoshop but havent had much of a chance to mess around with it.  I have his book on my amazon wish list so when I come to finishing "Think and grown rich" and "The 4-hour worksweek" I plan to move onto that!  

@Edgar U. After looking at it again I'm now doubting having a handwritten font on there.. but I don't want it too too plain... 

I hope to see the both of you more around the forums! Thanks so much guys.

-Ryan