What would help you the most?

Whether it is investing, being an agent or money, what would help you succeed the most right now?
Creator of Invest Four More
If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


Comments

  • Access to knowledge and applying it immediately into an action plan.
  • Gary, What type of knowledge? WHat are your goals?  Flipping, rentals or a combination?
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • I would like to know some good methods for finding and buying rental properties before they come on the market. Both single family and multi-family. I will be using direct mail to non-owner occupants as one method. Open to any and all ideas. Thanks in advance!
    Carl Borrmann, MBA, Realtor
    Specializing in Boulder County and North Denver
    Brokers Guild Residential
    (303) 282.8282
    www.ColoradoCarl.com

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  • Hi Carl! Direct Mail is probably the best way. I have listed a few properties from it and bought one. Finding wholesalers is also another way. Let them do the work for you!
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • The thing that would help me the most would some traction as a new agent. It's all still very new to me, and difficult to balance as a full time student and husband/dad. Most of it's my fault, didn't really know how to lead generate, but I also just moved to a new area.
  • Hi Shawn. Have you seen this article? http://investfourmore.com/2014/07/07/is-zillow-or-trulia-a-good-source-of-leads-for-real-estate-agents/

    Are you in an office that provides training?
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Hey Mark,

    I have read that article, but it has been a while. I'll re-read it when I have a minute. I work with Keller Williams, and they provide great training. My only issue is that my class schedule with the college interferes with the training schedule at my office. And, unfortunately, since I am tight on money, college takes precedence since the VA provides me with a housing allowance.
  • Getting that local training from your office is going to be a huge benefit if you can find a way to fit it in your schedule.  
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • I'm intending on scheduling my classes next term around the training schedule at my office, so I can take advantage of that.

    If you don't mind me asking Mark, how much would you say that your degree program has helped with your business?
  • To be perfectly honest, not that much. I learned about entrepreneurship, but I was disappointed with how much was taught assuming I would go into the corporate world and then invest in the stock market like everyone else. I learned much more from the real world, books I read on my own, CDs I listened too etc. 
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Thanks Mark, that has sort of been the impression that I've been getting. I'm sort of to the point that if I can become successful enough quickly enough in investing and being an agent, that I might just basically drop out of college, or pursue it part time. If it wasn't for the G.I. Bill, I probably wouldn't be going at all.
  • From what I have learned you have to get into pretty high level masters progams to see real business teaching that can help you start a business!
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • I've thought about staying in so I could pursue a masters, but I figured if I was going to stay in college that long that I would go to law school with a concentration on real estate. Also more for myself than actually working as a lawyer.
  • Yeah, I think for what you are looking to do, learning by doing will be much more beneficial!
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Thank you for the input Mark! I honestly appreciate it. I've enjoyed your blog for a while now, and I've been very impressed by your accomplishments, so it is very meaningful to me to actually be able to talk to you since you've done what I would like to do.
  • What would help me  is finding more buyers/sellers to represent in Sacramento. I need to put some effective systems in place to generate consistent results when it comes to finding buyers and sellers in general. Right now my most successful form of prospecting is cold calling. Im calling 350-500 people a day and generating 6-10 leads a week with 1-3 closed deal a month. I need to experiment with other methods so that I am generating a consistent income, once my real estate income becomes consistent my goal is to use my commissions to purchase my first property with a first time homebuyer program, and begin getting rental income which could help supplement my real estate income until I start receiving constant business from the pipeline Im building up right now.


    In 2 years Im planning on getting my brokers license and hiring agents. At that time I want to transition from doing less of the day to day tasks of a real estate agent, and focus more on investments. Im working on building up my credit in the mean time so I can take advantage of the best financing opportunities.
    Michael Lane Jr.

    Sacramento's Real Estate Specialist 

    MichaelLaneJr.com
  • Holy crap! THat is a lot of cold calling. Are you from the area? DO you have many friends, family and other people you can contact besides cold calling?
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • I am from the area, lived here my whole life. I have a pretty large SOI so I've been working that aswell. I've also started to utilize Facebook, and I've found that to be a nice way to get leads. 


    The main reason Im doing so many calls is that I was recently hit by a car. I've gotten better with treatment but it restricted me from being so active and now Im without a vehicle until my lawyers finalize the settlement. Luckily my step mother is a realtor so what I've been doing is taking charge of all lead generation, having her work my leads, and Im taking a flat fee of $500 once each escrow closes. Once Im mobile in a couple of months I can start keeping my leads and get the full commission. But this is where Im at now.

    Michael Lane Jr.

    Sacramento's Real Estate Specialist 

    MichaelLaneJr.com
  • Oh, I am sorry to hear that! WE focus on our COI. I figure it is better to have 50 people who know you well and will refer everything to you, than 500 people that barely remember you.  
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Mark, the knowledge that I seek is how to quick start my business as an wholesaler. I attended a local REIA today and was able to meet some potential power team members for my business as well as network. Trying to surround myself with the right people.
  • Gary, what is your plan as a wholesaler? 
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • I would love a look in of the entire process from start to finish of acquiring a rental property. What type of things do you have to do to find a solid property? Do you have to negotiate with your lenders and convince them to let you take on another mortgage if you already have 13 (assuming you haven't paid any of them off)? What kind of down payment do you have to pay? How do you find renters and how do you determine the rent they pay? How much capital do you make sure you have before you're ready to acquire your next property? Why do you prefer single family over multi family properties? Etc.
  • That is a lot of questions!  Try my complete guide to investing in rentals.  http://investfourmore.com/2013/04/08/complete-guide-to-purchasing-long-term-rental-properties/

    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • What would help me is to learn more about how you decide which geographic areas to invest in? 
  • I looked around my area first to see where the best price to rent ratios were locate .
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Posts: 0
    I would like to purchase some raw land, very cheap, but don't have the money and am fairly new to the area. I would like to find people that are experienced and can mentor me. Not sure what to do. I live in Florida.
  • jeanthe1 said:

    I would like to purchase some raw land, very cheap, but don't have the money and am fairly new to the area. I would like to find people that are experienced and can mentor me. Not sure what to do. I live in Florida.

    Why raw land? For development or appreciation? Both can be very risky. 
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • On the lead development piece, we're helping a bunch of US clients with finding leads - Most people are very focused on Facebook, Linkedin & Craigslist, but there's also some smaller more local sites being used. 

    The key thing from my experience is that you make some solid processes, have very clear requirements for what you are looking for - That could be Family homes 3-5 bedroom, 2-4 bathrooms, minimum $75000, maximum $450000 dollar, specific area(s) etc. 
    Both if you are doing it and if you hire outside support such as virtual assistants, it makes the process much faster to follow. 

    Similarly when you evaluate house prices initially, have a clear processes for checking 3-5 house price sites like zillow to find your price. To often when you do everything on a case by case basis it ends up taking a lot longer and it's much more difficult to evaluate your success if you always use different criteria's. Likewise its easy to "find" excuses of why you should buy a house that you really shouldn't (out of desperation).

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