Posted by james walker on May 02, 2006 at 14:20:44:
I get my list from a service… because of work I don’t get off in time to go to the court house. I’m thinking about leaving foreclosure alone or should I say not focusing on them as much. I think I will try my hand a abandoned houses… I have been telling folks that I buy them for the last week and I have gotten folks to call me with houses they have found… the only problem is goin to be finding the home owner. But I figure it’s worth a try…
How long to do first deal… - Posted by James Walker
Posted by James Walker on May 01, 2006 at 10:26:55:
I’m just tryin to get an idea about how long some others were at it before they got there first deal…
I have been at it for 2 months. I mail postcards to preforeclosures, give business cards to everyone, and have a sign on my truck…
Re: How long to do first deal… - Posted by Davis
Posted by Davis on May 01, 2006 at 13:51:32:
James.
It took me over a year and a half to get my first deal done. I was working on it about 20 hours per week.
I too wanted to hurry up and complete a deal. What happened, was, I started trying all kinds of methods so I can hurry up and complete that deal. But then I focused on one approach, and even one target market to advertise to. Then i focused like a laser beam on that and completed my first deal.
Choose one. And choose one to market to. One method one target.
Re: How long to do first deal… - Posted by Scott (FL)
Posted by Scott (FL) on May 01, 2006 at 10:41:46:
I know you are getting excited to find your first deal. Do not “force” your first, stay within your comfortable number range and wait it out. Maybe try some different purchase options… If you are on the edge of locking in your first, DO NOT pay too much. You will purchase for too much money and overlook a few expenses and… YOU become the don’t-wanter because you are up to your eyebrows in the deal and suddenly get a bad taste in your mouth that real estate is not for you. I have been on both sides of this equation. You can figure out what side is better.
HTH,
Scott
Re: How long to do first deal… - Posted by Jason
Posted by Jason on May 08, 2006 at 11:30:04:
I am currently in the same situation that you were. I have been placing signs and mailings, but can’t quite get that first deal (had two fall through).
Can you share what method you focused on and why? What was your approach? And how could a newbie accelerate this process?
Any advice is greatly appreciated.
Re: How long to do first deal… - Posted by Joe
Posted by Joe on May 01, 2006 at 11:09:49:
Good advise Scott. I had the attitude before that I didn’t care if I made money, I just wanted to get in and see it work. After looking at numbers and talking to people, I realized this was a bad move and would more likely do something to hurt me more than help me.
As far as the timeline, I’ve been marketing for a little over 2 months now, including sending post cards, sending letters, and door knocking. I almost had one deal signed up from door knocking, but the guy got a high offer at the last minute. It may still fall through, so I’ll keep watching it. And I’ve had 1 phone call in response to my post cards. They got my voice mail (can’t answer my phone 24/7 just yet, it’s somewhat difficult at my regular job) and I left a voice mail back with them.
Re: How long to do first deal… - Posted by John08
Posted by John08 on May 02, 2006 at 01:35:09:
Who are you sending postcards to? How many? Are you resending to the same list over and over?
Keep at it… - Posted by Scott (FL)
Posted by Scott (FL) on May 01, 2006 at 16:15:47:
The most offers I made in one month was 62…bought 1 house.
Also, one of my letters I closed 13 houses with 2 investors. That was a busy month!!!
Scott
Re: How long to do first deal… - Posted by James Walker
Posted by James Walker on May 01, 2006 at 12:44:54:
Your results seen to be the same as mine… I have had 2 calls from postcards. And I have talked to a couple people as a result of telephone calling…
I just hope I hurry up and get a deal… I see why they say the start is the hard part…
Re: How long to do first deal… - Posted by james walker
Posted by james walker on May 02, 2006 at 12:13:06:
i’m sending postcards to people in preforeclosure and i send it to them 3 times in a month…
Re: How long to do first deal… - Posted by John08
Posted by John08 on May 02, 2006 at 14:02:57:
That is probably the most competitive market. They are receiving letters and postcards from a ton of other investors as well. Doesn’t mean they won’t respond to yours, but certainly doesn’t help. And are you going to the courthouse and getting the list of nod’s and sending the letter that very day. You have to be first if there is a lot of competition. Getting the list from a service is easier, but the days you lose are very valuable.