All Forum Posts by: Travis S.

Yes, but not a handfull, a boat load. The more buyers you have, the more of a chance you have of selling a property.
The key is to shop for the types of properties and in the price ranges your buyers are looking for. In other words, if your 5 buyers are looking for properties to buy and hold in a price range under $75k and you find a rehab property for $100k, do you think you can find a buyer for it from your list? I don't, so building a buyers list first is very important.

Thanks a lot Will. I will keep everyone posted. I'm going to do my homework and get going. Thanks again!

1 Vote

Originally posted by Will Barnard:

If your exit strategy is to wholesale, I strongly recommend you build a buyers list first before marketing locking any deals. The reason is that you will likely put yourself in a deperate situations when having a deal locked and not able to find a buyer. This could make your deal fall apart due to non-performance and will create a bad name for you. Performance history is crucial to keep at 100%.

The second reason is that you will be in a much stronger negotiating position when you know what properties and at what price points your buyers want. Knowing this will enable you to lock the right deals at the right prices so that your buyers will buy and you will have enough room for your paycheck.

So let me get this correct. You're suggesting that I go find a hand full of buyers first and pre-qualify them before I create the deal?

0 Votes

Originally posted by Stinson Bland:

You first need to figure out what you're going to do in REI and I assume you'll choose to wholesale. Do you know buyers in your area? Do you know what they're looking for and what they'll pay for it?

If so, you need to build a marketing strategy to fill your pipeline with leads. Marketing takes money, time, and hard-work. I'd suggest you build out at least a 3 month marketing plan and figure out the cost of your plan. Then you'll need to save, earn, or raise the capital to implement your campaign.

How do you plan to attract motivated sellers? Are you going to use direct mail, door hangers, bandit signs, etc? What do you plan to purpose to these leads? And how will you follow through if they except your offer?

Have you attended any of your local REI's meetings?

For marketing I'm going to use a busy street corner. I know the home owner that has a house on the corner and the owner don't mind if I do some advertising in the yard. But, I'm going to do the busy street corner. Some flyers & networking.

I'm not too much worried about finding a seller & creating a win/win deal. I think the only thing I'm worrying about now is... When I find the seller & lock in the deal... Can I word the contract for a certain amount of time to find the buyer or should I find the seller, pitch a offer & then go find the buyer before I get all the paper work signed?

And by the way I do have some private money lenders on stand-by.

0 Votes

Originally posted by Ezra Short:

Travis,

I am from Tennessee and in the
same boat you are. Looking for my
first deal. If you would be willing to bird dog for me perhaps we could make some money together.

Let me know your thoughts.

I'm willing to give it a try and put my all into. Sounds like a plan.

0 Votes

Originally posted by Stinson Bland:

Like any business... REI takes money.

It will be hard to jump into the real estate game without any working-capital. You'll at least need cash to setup your business (LLC, biz cards, website, etc.) and you'll need even more money to start marketing for motivated sellers.

Once you have your business built and your marketing starts to bring you leads... you could try to wholesale/assign the deals since you cannot close on the homes yourself. Make sure you're buying deep enough and finding a buyer should be no problem.

You should also start speaking to lenders so that you will have the ability to close on houses when you find a deal.

If you have no access to capital and/or credit; you could try to find an investor that's looking for a bird dog. Once you get his buying criteria start driving the area looking for vacant, for rent, and FSBO homes. Locate those homes and start mailing to them, calling them, and/or knock on the door.

Good luck!

I do have a LLC establish. I have all of the paper work for it but, I may need to get it up-to-date. I guess I'm just a little nervous about the steps I should take first. I also, have some friends that have cash and I know some business owners that wouldn't mind making some extra money. But, where do I start?

0 Votes

Hello everyone. For years I have been reading & studying a lot about real estate & procrastinating to get a deal started. I feel now is the time to dive in to make my first deal and get paid.

I have absolutely no money to invest but, I have a lot of time. I feel much more confident right now to dive in due to spending some time in personally developing my self. But, I'm looking for my niche.

What would be your suggestions on the best creative financing techniques for me to start with?

Also, what suggestions do you have for some low-cost or no-cost marketing strategies?

All suggestions would help. Thanks in advance.

0 Votes

Originally posted by "biggerpo":

Can you be a little more specific here? Are you talking about properties designed for people with disabilities?

Yes. That's what I'm talking about. I tried to google it, with changing the words many different ways but, couldn't find anything.

0 Votes

Do you invest in these type of properties ? If so, what do you do to market your properties to them ?

0 Votes

Whats a great negotiation book ?

0 Votes

Great book !

0 Votes

All Forum Posts by: Travis S.

Travis S. has started 30 posts and replied 155 times.

Post: My First Deal

Post: My First Deal

Post: My First Deal

Post: My First Deal

Post: My First Deal

Post: My First Deal

Post: Investing in special needs housing......

Post: Investing in special needs housing......

Post: Whats a great negotiation book ?

Post: Rich Dad Poor Dad by Robert T. Kiyosaki