All Forum Posts by: Steven Stokes

Welcome back and good luck! This is a great time to be in the market!

I'm surprised by how negative some of these answers are and how weak sauce other answers are. 

Please don't go out and buy bandit signs without having a plan or a team. You'll only frustrate yourself if you do happen to get a deal and it'll may slip through your hands because you don't have a team or a plan of attack. Save your money for now.  

First, congratulation on having 300 dollars saved up for real estate. I start with much less and bought some really nice pieces. 

If I were you, I wouldn't focus on investing the $300 dollars right away. I would focus on building a great team including yourself, a top-notch RE attorney, a couple of solid investors and start building up a bird dog team to search and find deals. 

Use the money to buy yourself some nice business cards and use the money for lunch dates and investment club meeting. 

Once you built your team, go and create a no brainer of a great deal. This will show your investors that you are serious and you know what you're doing. Let me say that again, make absolutely sure the first deal you bring them is a one question IQ test, slam dunk of a deal!    After that you will have your investors ear the next time you come to them and you will be able to leverage that deal to sell your next one to other investors. 

You may end up spending $150 in expenses and the other $150 on the consideration on your first deal. 

That's what I would do with $300.

I hope this helps and good luck!

To be honest, I really don't think there is a quicker source than networking. Talk to everyone you know. Almost everyone knows someone with money, and some even know some with money who invest in real estate. Never assume someone does or doesn't know people with money. My best investor/partner came from a homeless guy who was telling me about a vacant property he used to stay in. Give your business card to everyone. Shake every tree and don't skip going to investor meetings and REI meet ups. Build your foundation before you build your house and you'll have a much easier life and deals will get done easier and quicker than always being one step behind your deal.

If they are not damaging the property I don't see why you would care if they are using airbnb to help  make ends meet. 

For those who are saying evict the current renters and do the airbnb yourself - I think there are more humane and profitable ways to make money.

I know this isn't an ethics forum but I think good karma goes a long way. I hope you find a solution. 

@Bill Gulley you're right my fault!  Peace :) 

@John Schick 

I think the best way to find wholesale deals is to pick an area, learn it well and start driving around and finding them.

There are other methods like bandit signs, yellow cards, craigslist, etc. you just have to pick a method that works for you.

It will really help if all your ducks are in a row BEFORE finding the deal -- like your investors, contractor, real estate agent, etc. because it will help the process go much more smoothly if you don't have too run around looking for these people once you have a deal.

This forum will help you a lot but nothing will do the work for you, so you have to go out there and get your hands dirty. But its the best way to see what works for you!

I hope this helps.

Wow @Bill Gulley 

I'm sorry I was just giving a direct answer to his question about the order of things.

I wasn't trying to get flamed on BP about if his question its the best technique, method or way to get a property.

The number one and best way is to network in person! So they get to see you're a real person and you get to see they are a real person. You can meet these people at real estate club meeting or even invite someone from BP out for a coffee. 

Find out what they are looking for and what they expect and tailor your investments to meeting that need.

I hope this helps. 

1. Locate the property

2. Put the property under contract either subject to, lease option, discount for wholesale, etc. 

3. Assign to third party (don't forget to collect your fee!)

I hope this helps. 

Additional: It does help having a list of buyers and renters available who can move quickly.

If you need help building that list let me know, I'll be happy to help. 

@Kirk Gore 

1. I've used list Listsource before. To answer your question if it doesn't give you that option then they don't have enough information to create that list but you could try calling customer service. I have found calling them is very helpful. 

NOTE: I did a yellow envelope campaign with them back in 2012. A 500 piece mailing got me 22 responses, 5 that were interesting and zero that went through. 

Honestly, I should have continued the marketing campaign but I was impatient and discouraged with the results. 

So my advice is even if you don't get a home run on the first mailing keep up with the campaign. I truly think it's worth the investment if you keep at it. 

Good luck!