Oftentimes, these properties just need to be given an intense marketing campaign to get as many qualified tenants as possible interested.

I was only able to sent out 1 mailing campaign so far and found that I was supposed to be consistently marketing to one mailing list and not continuously buying new lists (what a HUGE oversight haha)!!

My next actionable step is to figure out the lean cost of the startup.So far... this is what I got: Website: 1 for buyers and 1 for sellers = $25 direct mail letters: 500 = $300Bandit Signs: 50 = $175Driving for Dollars: 4 hours per month = $80 Online Marketing: Free Networking: Joining BP pro members and my local REA = $300Purchasing/ Building sellers list: using Listsource.com for 500 listings = $125Building buyers list: freeTransaction Fee: free ( I plan on selling my contract not double close ) Setting up the system: Using podio.com to track all leads and using ringcentral.com to manage my calls = $35Total Cost of Startup = $1,040MY ASSUMPTIONS: Average lead per marketing campaign = 3%Average deal per lead ratio = 4%Marketing budget = 15%Average profit per deal = $5,000*****So If I don't completely blow it, I should close on one deal in September, making me at least $5,000 minus marketing budget which comes out to be $4,250.That's a great ROI! 

We are in the middle of a serious campaign now, 5 touches, one every 3 weeks, to the same list.

I don't have $150k cash yet, but with the 5 flips we are in contract on plus the leads in our pipeline, this is a realistic number to have in 6 months.I spoke with the residential mortgage specialist at a small bank in town yesterday, and in so many words he told me if I quit my W2 job there is no way to get approved unless I have 2 years of solid tax returns from my business.My business income from last year was low because 5 flips carried into 2015, as well as us paying for some larger campaigns upfront in December 2015.I will most definitely make more in RE this year even part-time then I will at my day job.  

It came from my driving for dollars campaign.

I know eventually any deal I get, majority will go back into marketing however again I am just starting off so I am looking to put my current funds into a great marketing campaign that isn't too costly.

BP-ers, We are doing a 7-touch mailing campaign to people in pre-foreclosure. 

I'm starting my yellow leter campaign this weekend as I've already drove some of my target area identifying distressed properties and done my reseach via my local tax appraisers website.

I don't know how or if that will translate to a marketing campaign focused on motivated sellers, but we'll see!!