OfflineI'm currently reading Dean's book, 30 Days to Real Estate Cash and am on page 19: The Down Market. I've been interested in real estate since I was a little girl because 3 of my grandparents were in investing. And I've spent tons of money on real estate investing classes with big named guru's but I've been too scared to do anything about it! Every time I thought it would be so easy to do it, but chickened out because I was afraid of failing. But now, my job is considering another furlough day and I feel that its now or never. So, I've started this journal to make me accountable. I came across a journal of Carol Stinson and was in awe at how she go to her first deal. At this point... I just want to get that first deal. From there its on.
So far, I've been bird dogging and found 15 homes to contact. I've mailed out one letter thus far and am writing the others. I was reminded by Dean's email with Matt about the 25:1 rule and so I've determined to focus on that.
Tomorrow, I will be making phone calls to see if I can get some definite buyers on my contact lists (I'm praying!!). So, I will just continue to seek out more homes to write to as well as more cash buyers.
My husband is finally 100% behind me (YES)! Not only in word, but in body language as well... Hallelujah!! That helps soooo much because usually my instinct is to go and find a part time job. But, after my calculations with a job that wanted to phone interview me today... I realized I can make in 2 months or less what I could make working that extra job for a year at 36 hours per week! WHAT?! So can you blame me for turning it down and deciding to be committed to this?
I will try and make sure to post in this journal weekly if not daily. I look forward to hearing from other newbies that are doing this too!!
Kim
Kim
Kim,
Build that buyers list and start emailing those deals. Be careful to blind copy so that you are not sharing everyone's emails
You could also offer referral fees...we usually offer $500 but you can do whatever feels appropriate for your profit margin and your market.
Partnering on a wholesale would be great too. Make money and build relationships. It's all good!
Networking is so beneficial...Love following you journey
Julie
John and Julie Wakefield
JCW Properties, LLC
Thanks Julie! I want to have at least 10 buyers in my bucket before I get an offer under contract. Is that enough?
Kim
I was supposed to meet with her yesterday but due to a traffic accident, it was postponed til today. It went well... she has experience with investors and only mentioned the proof of funds letter in regard to the offer being accepted.
I went to order the post cards, then thought better about it because I'm going to call the buyers. Now as far as the sellers.... which is better? Post cards or yellow letters? Any advice? I don't want to overthink it... until I get an answer, I'll send yellow letters. It won't hurt to send postcards afterwards if need be (will it?).
I can feel that I'm getting closer to putting offers in. My realtor understands that its about the numbers and that I'll be putting in multiple offers. So far, so good.
I didn't get a response from the ad I put in for sellers almost a week ago, so I'm going to put in the buyers ad and another sellers ad and see what happens.
I'm still sick so I've been moving slow this week. I've been trying to push ahead but its making the cold stay longer. I'm shutting it down earlier tonight.
Kim
You are doing great! Remember it's a marathon--not a sprint so take care of yourself so you can get well. Congrats on getting a real estate agent...good work!
I can't give you any advice on the post cards because I haven't done them yet. And I've only sent out a few letters. Maybe someone else can comment on this?
Teresa
College Station, TX
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"Declare that you will prosper despite every difficulty that may come your way. Don't just survive; thrive!"
-Joel Osteen
Kim,
I just wanted to let you know that you've inspired me so much. I have had a passion for real estate for as long as I can remember but have just started to really focus on it. I have allowed finances to hold me back but have also had some health issues but they are taken care of now so am now moving forward. I am reading/studying every day and pray that I can soon get started with my investing. I love your enthusiam and ambition. Keep up the great work. Thank you.
Barbara
Kim,
10 is more than enough to get started!!
If you have a property that fits the criteria of one or more of your buyers, make that offer by all means and float it out there!
Rootin for ya!!
Julie
John and Julie Wakefield
JCW Properties, LLC