Marketing with Minimal Funds

[javipa]

We're talking about a newbie with a 55-day deadline.  Trying to learn plate juggling is the ticket to hell and failure.
 

[Gold River]

Hi,

     I think Javipa is absolutely correct, I know I can buy or do any real estate deal because I have gained years and years of education and experience, and done by trial and error many, many deals! However for a beginner it is difficult to do deals in area's of real estate investing where they do not understand the basic principles!

Considering the various types of real estate and the various methods to buy property it is to much to expect for a new investor to learn or know everything from the beginning, and knowing the theory is different than practicing the theory!


             GR

[chunkoftheearth]

How is a newbie answering phone calls and helping an experienced investor with a live deal in need of finding a buyer 'plate juggling'?  How, under their guidance?  It's a win-win scenerio if you ask me!  Honestly, I think sending this dude out and asking him to do a wholesale deal, on his own, in 55 days or less..that's plate juggling! As an active investor myself, I have done what I've described with countless begining investors and watched them flourish.  I benefit by getting work done for free and by socializing with like-minded people.  They benefit by learning quickly, making money when they've found my buyer for me, and minimizing mistakes every newbie will make. I've been able to guide them out of trouble and speed up their learning and teach them tricks to accelerate their learning by doing what I described.  So I stand by my comment 100%.  This is a people business.  Shadowing and offering to find a buyer for the guy on an active deal the investor has IS the best way to learn and make money off the bat.  I'm proof that he should learn different types of deals right away from the get go, and to do so under the guidance of a mentor who is already in the field.  I only say this can work because I've done it.  Not saying he shouldn't wholesale too in the mean time.  In general, it's a good rule of thumb to invest by spreading your risk.  Wholesaling and only that only and not doing other deals is the equivalent to betting all your chips on one thing!  Spread your risk.  Challenge yourself from the beginning to learn multiple types of deals.  Team up with someone who is doing this and he'll do just fine.  I'd like to learn from you guys why you think him learning and doing different deal types right off the hop by shadowing a local mentor and working hands on with them as I described is not a good idea. 

[javipa]

chunk,

Re-read this thread from the beginning.  Your post misses the point of the deadline and the money available.  Notwithstanding, if you'll notice, I wrote that there are many ways to skin a cat.  However, you're insisting there's only your way.  Don't pollute this thread.

[chunkoftheearth]

Jav,

Thank you for the guidance on re-reading the original post.  I guess you figured since I had a point of view different than yours, that in order to agree with you 100% I needed to re-read.  As to your second point about me missing the point of the deadline and money available, I suggest you re-read what my post said.  In a nutshell, all I was pointing out was that another way to do it in my opinion was to have the guy work with someone who can mentor him in the field on a live deal that THEY are working.  That the original poster guy can team up with them to learn hands on now, AND at the same time make some money by finding a buyer for the live deals that other investor has.  Today, I have 4 guys who are new doing that, and they are learning and making money.  I also suggested he does in fact go out and learn more deals.  The original poster asked for suggestions, and I have offered a suggestion that in fact works from personal experience today.  I have no problem with people who disagree with me, and neither should you.  Discouraging people like me to share differing points of view than yours serves no purpose other than to highlight your own viewpoints and not others.  Most of the time you talk about things, I agree and have indicated so on a couple of other threads.  In this case, I disagree with you, big deal, move on!  And by the way, as usual you managed to avoid answering the questions I threw out for you in my last post.  Why am I not surprised?

[javipa]

Seriously, you are missing the point of the thread and really seriously, you're suggesting an approach to this particular challenge that is too complicated, and requires too much sophistication, including rounding up a mentor who is willing to drop most everything and hang on a newbie for free for two months, if not babysit several investing options.   Really?  I live in Realville. 

That  said, I don't care.  I've offered what I've offered.  If quest4success prefers your complicated, if not sophisticated, solution given the deadline and money available...fantastic.  As I said there's more than one way to skin at cat.  At the same time you told me you disagreed with my solution.  Great.

[Donovan]

Probably the cheapest way is to build a website!

I have written a few posts about my change from a template real estate website to building my own and working on Search Engine Optimization or Search Engine Marketing. 

A website will cost you $12 a year for the domain,  you could use free hosting or pay a couple bucks to get a cleaner look.   (godaddy)

If you're just starting out $12 a year and some time learning the search engine business should be on the top of your list.  This is my first website and it has only been up for 2 months, I now get 3-5 leads a week. 

Read a book on SEO, buy a domain, get to work!

[Quest4Success]

update

well wouldn't ya know i got started just as javipa said to do i went out and got a stack of hot pink card stock printed i buy ugly houses on them and stuck em everywhere and i mean everywhere

GAS STATIONS
BATHROOMS AT STORES , RESTAURANTS
CAR WASHES
REDBOX

pretty much everywhere i thought people would frequent
 also put up some bandit signs throughout my county and my phone just started ringing .

my whole mindset has shifted to marketing marketing marketing


ive got a few leads from some sellers and only one seems MOTIVATED poor guy going through a divorce seems pretty bummed .
he called me off a bandit sign placed across the street from home depot . 

however the majority of the calls i got so far are from investors looking to sell their duplexes and forplex properties

so can this be done as a deal  if they are rented out already
 is it unwise to look at cashflow and see if i can put something together for a buyer .

oh right i have also been marketing heavy on craigslist and got about 15 buyers that seem ready to snatch whatever is a good deal i find

so concerning the duplex how should i go with those leads and the divorce guy has a home almost 1.5 hours away he wants to sell he is motivated because he wants to clear this before the divorce is final he stated his ex wife signed the home over to him if that matters .

im putting the plan in action gentlemen a bit of direction as to proceeeding would be fantastic

thanks again

 

[javipa]

update

well wouldn't ya know i got started just as javipa said to do i went out and got a stack of hot pink card stock printed i buy ugly houses on them and stuck em everywhere and i mean everywhere

GAS STATIONS
BATHROOMS AT STORES , RESTAURANTS
CAR WASHES
REDBOX

pretty much everywhere i thought people would frequent
 also put up some bandit signs throughout my county and my phone just started ringing .

my whole mindset has shifted to marketing marketing marketing


I've got a few leads from some sellers and only one seems MOTIVATED poor guy going through a divorce seems pretty bummed .
he called me off a bandit sign placed across the street from home depot . 

however the majority of the calls i got so far are from investors looking to sell their duplexes and four-plex properties

so can this be done as a deal  if they are rented out already
 is it unwise to look at cashflow and see if i can put something together for a buyer .

oh right i have also been marketing heavy on craigslist and got about 15 buyers that seem ready to snatch whatever is a good deal i find

so concerning the duplex how should i go with those leads and the divorce guy has a home almost 1.5 hours away he wants to sell he is motivated because he wants to clear this before the divorce is final he stated his ex wife signed the home over to him if that matters .

I'm putting the plan in action gentlemen a bit of direction as to proceeding would be fantastic

thanks again

 

Forget the house that's a 3-hour, round trip from you.  That's not in your farm.

Do you have a farm located?  Are your bandits signs well placed IN your farm?

Are you out making 30-day cash offers at 70% of ARV (less repairs)? 

BTW, your buyers will be a buy-and-hold, or end/users looking for a bargain, or one-off rehabber wanna-bees with no time to scout for deals.

Forget the multi-unit sellers.  They don't have a wholesale flip deal for you...(unless they're unloading broken down dog houses). 

Stop getting distracted by 'other possibilities'.   If you don't discipline yourself to stick with wholesaling 3/1's 3/2's in your farm, you're gonna remain stuck on the 'spin' cycle, and never get to the 'rinse and repeat' goal.
 
Eventually, you'll find the 3/2 seller who just wants out (in your farm), and you'll be able to successfully wholesale a deal for a lump sum fee. 

How many cards did you print?  How many are left?  How many people are you talking with?  How many sellers have you talked with face-to-face?  How many referrals to other seller's have you received?  People selling property, often know who else is wanting/trying to sell.

Stick with the plan...

[chunkoftheearth]

so can this be done as a deal  if they are rented out already
 is it unwise to look at cashflow and see if i can put something together for a buyer .

 

This is exactly the reason why you need to learn more than just wholesaling.  Your going to pass on too many other opportunities.  You may think wholesaling is for you.  But have you tried Lease Options?  Have you tried Sub2's?  Have you tried Contract For Deeds (by the way you can use this strategy with multi-units)?  So if you haven't tried any of these, then you have to ask yourself if your not selling yourself short.  How do you know you wouldn't be more of a Sub2 guy unless you learn the strategy and try it?  Being able to sign deals that others don't know how to do is what is going to keep making money for you.  I get tons of calls from other investors who know I can do multiple deals.  Example, an investor called me outta the blue a couple of days ago about a lead.  He has been investing for 4 years and ONLY knows how to wholesale.  The lead he was looking at though was a Sub2 candidate with 40k in equity.  He just didn't have the knowledge to set it up and passed it off to me.  I just signed that deal up and will be giving him only $500 for his troubles.  I'm not saying wholesaling is bad.  But why are you not trying to learn new deals as you are starting out in this business?  If these other guys who are advocating newbies stick to just one thing have actual proof that wholesaling only strategy mathematically is better, than I can understand.  You're cutting yourself out of a lot of deals by doing just one deal type in my opinion.  But congratulations though on getting some leads.  Good to hear.

[Real Life Real Estate]

Hi,

People above had some good information.  If you are truly looking to wholesale deals you can start out totally free very easily .  All of our wholesale deals come right off the MLS.  Get a good agent in your area and start putting in offers, A LOT of them at the numbers you need to in order for an investor to purchase them.

Start building your buyers list, google, craigslist and other social media makes this very easy to do and FREE.  WIthin a few days you could have 10-20 true cash buyers if you work at it hard, again all free.

You can get simple assignment contracts online ( google ) and you are set to go.  Just make sure when your putting your offers in with the agents you have the proper escape clauses and time to do your due dillegence ( show the house to investors ) this can be your inspection period ( 15 BUSINESS days ) often works well.  We do from completion of attorney review since we are an attorney state, so that gives us a lot of time to back out if you like.  Then just send a COPY of a check  ( no need for actual payment )  then just find your buyers.

Set up appointments with contractors to go thru the house and get you rehah estimates to show to potential buyers, this will also help you learn how to analyze rehab budgets.  Which is key for this and also making transition into doing actual flip at some point if you wanted.

So basically everything can be done for a very minimal cost, including a lot of free information on the internet about wholesaling.

No need for bandit signs, mailers, etc the MLS can provide tons of free leads with the about of REO's and estate sales out there.  No need to deal with fussy sellers for the most part either on the REO's and even estate sometimes.  I know people are going to say you can wholesale REOS but you can ... if you want info on that very easy also

Good Luck
Jarred

[Real Estate Seller]

I been in this business 25 years and I see new investors come in with no money and leave with no money. I hate to say this most investors are looking for something for free when there are no free rides. MLS is is a good starting point but the banks hold the best deals if you have the funds to closed the deal. Yes you can used a 3rd party to closed the deal like you are doing if you do not have the funds yourself.

[HenryHT]

Hello there

I am new to this business and want to get started ASAP I only have one problem as i have the time to do it since i am currently unemployed I dont have the funds to do the marketing i would like to get started .

I currently have about $400 to begin with and only will have sat 200 or so after that each month to spare as the lights are a tad more important at the moment.

I am in a jam however i know there has to be a way to do this starting with little funds .

I am asking for some insight and creative help here gents.

please help an up and coming investor with some of your wisdom .

all i can do is  till i figure this out so a little help would be great.

THANK YOU ALL

With that kind of money you can set up a website and do a lot free marketing with social media
just get yourself a facebook page, start twittering and also create a linkedin page

[gaulkin]

Try and track a redevelopment of a slum, this can be free in terms of time and you will be able to find some cheap houses to buy or sell to another investor.