Another call from August 05 Marketing

I got another call from my Aug05 marketing campaign. Looks like it might be a possible lease option deal. Sellers are very motivated... Maybe this will be my first lease option...

August 05 Marketing Still Bringing in Calls!

The way I setup my marketing last August involved me getting a separate cell phone to take calls on. In November I turned that phone off (not the service, just the phone). Well, last night I saw it sitting on my nightstand and decided to charge it up.

Tonight the phone rings! It was a guy I had marketed to last August, and he just now decided to call. So now I have two houses to go look at. He sounds very motivated. One of the houses is probably a no go, judging from the info he gave me, but the other has good potential as a lease/option, seeing as the area is a nice part of town.

Oh yeah, there are a ton of voicemail messages on the phone! I need to listen to them. I was not able to get any marketing ready for this week, seeing as this project I am working on has been taking up ALL my time the last few weeks, however it ends on Thursday, leaving me all next weekend to get the ball rolling again.

J-O-B Cutting Into Real Estate Investing Time

I have a deadline for work this week, I have very little time to do any REI activity. I can't wait for this project to be over so I can get back to doing the things I know I need to do to become a succesful RE investor.

I have been listening to REI training while I have been working the last two days, but I'm not getting as much out of it as I would be if all I was doing was listening. Learning by submersion I guess.

I want to send out 100 pieces of marketing the first week of February. This weekend I will get all my stuff together that I need to make that happen...

Knowledge Conquers Fear

It's been said knowledge conquers fear. Knowledge comes from learning from others, either thru written or spoken word. I have one of my favorite REI teachers in my iTunes library. I sit at my computer at least 8 hours a day (I'm an internet designer / developer by trade). I am going to listen to to REI teachings everyday while I am at work, rather then music.

I have been wishy washy about my REI career since I started. I'll get really excited, spend a month or two taking action, then get disappointed when nothing comes of it.

Not this time. I am going to push all year long. If I can't make it work after 11 months of SERIOUS effort then I will reavaluate my position. Until then nothing that happens will stop me from becoming a serious ReiGuy...

First Step to Closing a Deal - Prospects

I have spent probably hundreds (maybe even into the thousands) of hours over the last 9 years or so reading or listening to REI information and techniques. You can always tell the guys that are trying to give you just enough information to get you to buy more of their training materials, and the guys who really are giving you the information that you need to invest in real estate and make a profit out of it. However there seems to be a common theme between these two types of guys, and that is PROSPECTS.

Without prospects there is no way to make money in REI. You have to find people that are NEEDING to sell, then you have to determine if they are motivated enough to sell at a discount. One of the biggest momentum killers for me is dealing with unmotivated people.

Last year (August 05) I started a new method of marketing to get potential prospects calling me. I like this method much better. Out of about 100 incoming calls over the month of August (I sent out 400 pieces of marketing) I only got one lady who yelled at me for marketing to her and told me she was going to report me to the BBB. Everyone else was actually very pleasant when they called, even when they weren't wanting to sell their house! This is the way to go for me.

The great thing about this type of marketing is this; even when people call me back who don't have a house for sale, I get the chance to let them know I am the ReiGuy and if they send a house my way that I end up purchasing I will pay them a hefty finders fee. Lots of these REI guru's usually suggest paying a nominal fee, however I want people to always have me in the back of their mind when the word Real Estate comes up. How do I think I can do that? By offering at least a $1000 finders fee!

Think about it. If I am going to make $5k and up on a deal, isn't it worth it to give a chunk of that away? Remember, these are deals that I probably wouldn't get otherwise. I think it's worth it.

Having said all that, I NEED to crank up my lead machine. I wan't to spend this week getting that together and putting a plan in place that keeps my lead machine running with minimal effort on my part...

WOW, What A Crazy Year!

It's been a long time since I posted. I ended up buying all six of those rental properties. Let me tell you, I learned a WHOLE lot over the last year about investing in real estate, property management, and life in general. Last year was by far my busiest when it comes to real estate activity, however I don't view it as a very efficient year. The rental properties were something I probably should have avoided being a new investor. They are now in the hands of a property manager so I don't have to deal with them anymore, which is a good thing.

I am turning my focus to the REI techniques that produce the quick cash, such as lease options, options, and wholesales. Once I get in a better financial position I will look again into the retailing and rental side of the business. I would also like to get into commercial REI, there is some big money in that (so I hear) if you know what your doing and have access to large sums of cash.

For now I am going to put a plan together to market and get some leads coming in. I am also working on some web based software that will manage the time consuming aspects of the business that I should not be spending my time on, so I can focus on the stuff that matters, like putting deals together and cashing checks :).

I may have the opportunity to work with a guy here in town who has done a lot of retailing and owns rental properties. We were talking the other night and he seems very interested in the Lease Option / Option side of the business.

This is going to be a great year in REI for me. I hope you enjoy reading the journey as much as I enjoy talking about it.