All Forum Posts by: Simon K.

Really?! I feel like I'm moving very slowly! Too bad there aren't enough hours in the day...

I'm really hoping to be done with all of this by March 1st so I can start aggressively pursuing deals! I feel like 2013 is going to be a good year for me; I've already made some big changes and I plan to follow through on them!

Just thought of another question; are there any products that experienced investors would think valuable enough to recommend to a newbie? Also, is there any need for me to contact an agent? Should I even involve agents with wholesale deals?

Thanks!

Oh yeah, I forgot about that! I need to get contracts! Is it possible to order them online, or should I go to Office Depot or something?

I've finally decided to take the first steps necessary to start a business with a focus on wholesaling houses. In the future, I'd love to do rehab projects; some I'll sell, some I'll rent.

But anyway, I'd love an expert's critique of what I've done so far, as well as what I plan to do ASAP.

- Established an LLC. with the state of Georgia.

- Purchased domain names; two for buyer squeeze pages, two for seller squeeze pages, one for LLC.

- Set up Facebook, Twitter, LinkedIn, and Google+ for the LLC.

- Followed more than 500 other people (on each social networking platform) who work in real estate, most in REI.

- Began preliminary work on creating all five websites (focusing on the buyer squeeze pages, so I can gather a solid buyers list before putting a property under contract) but it turns out that I'm not too good at the technical side of things, so I think I'm going to hire someone on Fiverr to put everything together. I'll start writing up the content, and he/she can just copy and paste. Is it a good idea to hire someone internationally to do the work for cheap? The reviews I'm seeing are all excellent.

- Designed company logo for business cards, letterhead, etc. At this point, I'm only going to order business cards.

- Started figuring out how to use Listsource correctly. I compiled a list in the area I'm targeting (LOTS of houses that investors would LOVE to get their hands on) and am using the following criteria: 40-100% equity, 01/01/1900-01/01/2006 last market sale date, SFR, mailing and property address complete, exclude corporate owned, absentee owned in-state, absentee owned out-of-state, exclude trustee-owned. I'm getting a list of about 700. Is this a good sized list that I can begin my marketing with? If this list sounds good, I plan on purchasing it.

- Started narrowing down my marketing ideas. I plan on writing my first 200 or so letters, and then sending on the rest with a company who can do that for me.

- Signed up for a Google Voice account to use for calls from potential sellers. I plan on letting all of the calls go to voicemail, but systematically check it throughout the day just so I can screen out all of the unmotivated people. I'll be able to call people right back from the Google Voice too, so I can already start running comps, finding the property on a map, etc. when I"m on the phone. I'll call them back once I've finalized the numbers and set up a time to meet or at least see the property.

- Found an investor friendly title company.

This week/weekend, I plan on getting everything figured out for the websites, as well as compiling a more narrowed down buyers list. I'll probably give a few investors a call to see specifically what types of properties they're interested in.

I also want to figure out how I'm going to get the websites set up. I'll look more at Fiverr; I like that some people on there ONLY build squeeze pages. I need to find someone to set up a company homepage that can somehow incorporate a blog, in which I can post recent listings, real estate news, commentary, etc.

Do you think I'm on the right track? I want to finish all of this startup-type work in two or three weeks time, so I can start getting down to business. My goal is to have my first check by May 8th, but maybe sooner!

As always, thank you,
Simon

I'm at Emory, which is constantly expanding. I'm not sure whether they build on existing, undeveloped land, or buy new. The campus is in one of Atlanta's most desirable neighborhoods; 3/2 SFHs go for about $400,000 on up.

Thanks for the great ideas guys!

James Vermillion, I completely agree with you about continuing to learn. I've found a wealth of information on various REI sites, but none so honest as BP. The amount of knowledge I've absorbed by scouring these boards is unreal.

As for your third point, I'm doing just that, for now anyway. I leave for break tomorrow night, and won't be concerned with much else than spending time with friends or family, so I figured the next 30 days would be a good time for me to actually start planning my business. I've been listening to a lot podcasts (I quickly weeded out the hour long advertisements) and have MANY more waiting on my iPhone.

Marc Bodinger, great ideas! I do have a lot to learn about my local market, so I think that is a good first step to take.

College housing is huge in Atlanta. At least half of my friends live in communities off campus.

My parents are purchasing a property in Atlanta to double as a place for me to live, and for them when they're in town, which (thankfully) isn't all that frequent. They plan on signing it to me after I graduate, and I plan on finding some way to use it as a rehab or LTR. Any advice in this case?

Anyone?

I'd really appreciate any advice y'all could give me! :)

Hi BP Members!

Investing newbie here! I've decided to take whatever steps I currently can to become financially independent and grow a business so I don't have to work in a conventional office.

Here's the problem...

I'm a college freshman. School is my priority. However, I don't have a part time job like many other students. This means that I have ample time to devote to starting my investing career. I'm thinking that wholesaling is the best way for me to start, as I don't have a lot of money to put down on a mortgage or rehab. My parents are very supportive of my dreams and will help me start off financially. My mom's actually been putting money in to a separate account since elementary school when she noticed that I was constantly watching HGTV and Flip This/That House instead of Cartoon Network like most other fifth graders.

I have about $8,000 that I can use (if necessary) to start. I'd be able to work on Saturdays and Sundays, as well as another two nights a week for about 6 hours. I always find time for homework (my social life is pretty busy, but my dreams are becoming more important) so I'm not worried about falling behind in school; I've always been able to make good grades and stay out of trouble. Never even gotten a parking ticket! Oh, I also have a car, so driving around looking won't be an issue.

So, how should I start?

Should I contact an investor in the Atlanta area and see if he/she will mentor me? Are internships available in this business? I'm studying business and economics in school, and have taken more advanced classes in those topics, if that makes a difference.

Should I begin wholesaling independently right away? If so, should I just start compiling a buyers list, and driving around scouting out properties, putting up bandit signs, sending letters, making calls, etc.?

Or, is this even something I should pursue right now? I feel like I'm ready to do something to ensure my future financial goals, and real estate is my true passion. I love everything about houses and buildings. I love designing spaces (which is why I want to start rehabbing one day) and I love running things and taking initiative. I love being a leader and working independently.

Any advice?

Thanks,
Simon

I'm not a fan of these "training" programs. I've found just as much (if not more) information on sites like BP, talking to REAL investors, dealing with REAL problems of a REAL market!

Totally random, but...

[b]What kind of car do you have? Do you like it?

What is your dream car and why?

What kind of car (realistically) would you replace your current car with? Why?[/b]

I have a 2010 VW Jetta sedan. I really like it, but the gas mileage is a disappointment. It is not the diesel model.

One day, I'd love to get a Range Rover Supercharged. I just like their rugged but refined appearance.

I'll probably replace my Jetta with a Toyota Prius. I like the quirky design and 50+ MPG doesn't hurt either! :)

What would you recommend to someone that's looking to start flipping/rehabbing with only $10,000?

What types of loans are available for the actual rehab of a property, and what type would you recommend?

What are a few avenues one could take that would require very little or no money down on a property?

Thanks!