OfflineI have been a member of the Success Academy for several years. I am also a licensed Realtor of 30 yrs. Recently, I have had some good success with NPN and SFR REO pools from servicing companies and banks. However, I have been unable to crack the wholesaling nut. We have a ban on bandit signs in our city/county. We also are unable to get pre-foreclosures. We see nothing until it is ready for auction. Looking for some guidance on getting through and being able to accomplish the one thing that means so much. We really want to wholesale in our own town. Any ideas? I have done craigslist adds to no avail. Been to REI clubs and not made any headway.
Thanks,
Deb
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It can be tough investing in a smaller town but not impossible. In fact there can be some tremendous opportunities in smaller communities. After looking at your profile and hometown I'm convinced that there is plenty of deals there. And where there are deals there are investors.
1. If REI clubs aren't giving you what you want see about joining in as a volunteer to make it a better place to network.
2. Craigslist and other advertising mediums aren't something to be checked off of a list. They are there to bring in a steady stream of calls. Steady meaning maybe 10 calls a week maybe one. But over time it will add up.
3. Try some unorthodox approaches. One thing I do on a regular basis is call For Rent ads out of the classifieds. I simply ask if they are interested in selling their rental. I will get a yes or a no. If they are interested I may have found a good deal to purchase. If they say no I then ask if they are interested in more properties. Either way, I have found someone to work with. Saturday I made 4 calls and left messages on all 4 machines. Two of them called back. Out of the 2 I found 1 very strong buyer (He owns 60-70 properties free and clear) and 1 pretty good deal on a 4-plex.
I got my start in a small town of only about 5,000-6,000 people. In that town my mentor built a strong investing business. He literally came from nothing with dirt under his finger nails to now living in a 15,000 square foot mansion with 300+ acres of land around him. Anyone can do this in almost any location. It's simply a matter of being creative and thinking out of the box to find both buyers and sellers.
Best wishes!
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich