I know that a lot of time passed before I even landed my first real estate deal. I think , no I know years went by. I can remember back in the early 1990s after the Savings and Loan crisis dreaming as I read the auction section in the newspaper.
I was around 21 and I would tell my Dad, “Hey look at this house it’s in a great neighborhood we should go to the auction.” He would always respond with, “We have no money”. He didn’t know it but he would drain the motivation right out of me.
The dream never left.
I am infatuated with the idea that you can by a home with very little or no money of your own and use some one else’s money to pay it all back and put the difference in your pocket. It took me 20 years before I would complete my first profitable deal which was a simple flip.
In 2011 the market was just as bad if not worse than in 1990s and I was viewing houses and multis on the internet every day. I was reading blogs and forum posts about real estate investing for entertainment as well as knowledge.
Then I fell into the education trap. I bought courses on how to make money with tax liens, tax overages, wholesaling, online mentoring programs and finally a program to start a House Flipping business.
The final course as I went through it never gave me one piece of information that I just stopped and said, “A HA”but it did push me over the fence to get something done. I am writing this post hoping it helps you get your first deal done and saves you from laying out your deposit money!
If you are just getting started here are my simple steps to getting to your first deal.
1. Go to Vista Print and have 500 hundred business cards made they should include your name and all forms of contact. You also want a tagline similar to “Rebuilding America One House at a Time”
2. Second make a list of everyone you know. You are going to call them and tell them what you are doing. Hi “Joe” I am starting a part time business locating houses for several investors that I know who are willing to pay cash if you know of anyone wanting to sell a house or multifamily would you share my contact information with them? When they say yes give your business info even if it is the same. Also send it to them in the mail. I use nice card that I send right from my computer by using this service provided by SendOutCards .
3. Now keep the momentum going and get out and Network . Attend local Real Estate Investor Association Meetings, Meetups, local business functions, I joined some interest groups such as a book club and SHARE what you do.
4. Stay in touch with everyone. Send birthday cards, anniversary cards, Holiday cards etc. this keeps you fresh in their minds and helps build relationships.
5. Have lunch and coffee with people on a weekly basis just to talk.
There are many more strategies and this is just one to get you started. As your Networking matures you can focus on certain professional s such as Realtors, Lawyers, CPAs.
I know if you tell 500 people what you are doing you will find your first deal. Now go get em!