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Getting started in real estate investing usually means, where do I begin. The dreaded ground zero of starting anything. In real estate investing you have to do two things. 1. Marketing 2. Working the deal A big part of your expense when you start with no money, is finding motivated sellers willing to give you a hefty discount so you can purchase a property as an investment. Yes, I know you don't have money. You don't know how to answer phones or negotiate. Yes you don't know how to write contracts. There's always a million questions to ask yourself before, while, and after you're doing anything. 1. Believe there is money in real estate 2. Do things that will make the phone ring
- Direct Mail- post cards, envelopes
- Signs - post them yourself or call signs and find out who puts it up for them
- Classified Ads
- Fliers - canvass
3. Generating lists to send to people. you can purchase lists from any list provider online or go to the court house and generate your own list. Real estate agents have access to expired listings and also about 10 years of sales data 4. Answer the phones and don't have big expectations. A motivated seller means someone that needs to sell now. A lot of calls will be people just curious. 5. If you feel they are motivated then go talk to them and see what they need and if you can help them. 6. If they agree to your price then have them sign the contract 7. Now you have your first deal. Now there's many questions you have I'm sure. One of the benefits of a coaching program or other people's materials is that you will have access to contract and such. Being able to fill out a contract correctly is sometimes confusing. But remember the settlement company will make sure everything changes hands correctly. They have lawyers that will help you close the deal. So if you want to spend zero dollars to make money. It's hard to do. You spend money on the "get rich programs", on the marketing, on the phone bill. If the best thing that you can do to get start is to put out flier and go to the court house and build your own list. Spend some money on direct mail. Buy a program from eBay if your can. There are usually local real estate investors offering coaching programs and even national coaches that do a good job. For their services your will usually shell out anywhere from $3000 dollars and up. How do I know, because I've had all these expenditures. Any I've made money but always remember it's not millions. To make millions in this business that is another real estate strategy. I hope this helps anyone trying to learn about the real estate game. And what a game it is. It is important that I discuss information marketing in the real estate business. Many real estate investors have memberships, products, coaching, and various other items to sell. These are all informational products but they will not bring in money any quicker because they are good product. Your ability to generate money is: 1. Your actions, things within your control 2. Things beyond your control When these thing come in together a sale occurs. Please do not overextend yourself hoping for riches down the road. Spend money that has been set aside for the real estate business. Your rent money, saving, and credit cards are the place for real estate investing. If you want to be successful you have to have successful habits. Get a part-time job, save $100 per month for the business and spend it in the business. If you prove to yourself you are serious and work harder and save to start a business, you will condition yourself for success. Never let a people tell you, that if you really believe in the business then an invest should not be a problem. I'll leave this blog in saying one important quote, I forgot who said it: "If your making money system is idiot proof, then we should all be rich" Rich people don't sit in real estate seminars about making money and taking courses about short sales, foreclosures. But they are the ones collecting our hard earned money. Our landlords, the supermarket, the speeding ticket, the towing company, the coach, the mentor, the shipping and handling. Take steps and be ready for the risks. There is money out there and all your dreams achievable but the answer is within you more than the method of money generation.
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