Desperately Seeking Clarity!!

I know the feeling. I will tell you honestly what I discovered. It really helped the feeling of being overwhelmed. I found that I needed to learn what a REAL deal was before anything else! I had people calling me with properties that I had no idea what to do with. Buy it and hold, wholesale it, fix flip it, lease option it. I also had a list of buyers with nothing to present them.
In this and ANY other business, you MUST know where you are getting your product, how much it will cost you and what you can sell it for. How will you show the benefit of the deal to your buyers or how it will benefit you? THE NUMBERS in other words!
What actual ARV is, what it will sell for in 90 days or less. Not what a realtor tells you, not an appraisal, but what the MARKET tells you.
How much are the rehab/remodel costs?
What are the realtor commissions, closing costs, holding costs?
The only way to do this is to find and research properties, build your buyers list, go to every REI meeting you can, meet and network with people that are doing business, not just attending. Start making offers.
You do need cards now. Go to vistaprint.com. Lots of free card offers, car magnets, websites Etc.
Your first business cards should have your name, company name, phone number, email, website if you have one and WE buy houses or wholesale deal provider or both or whatever you want as a basic description of what you do or offer. It is not critical. You can change them up for free on your next order. Just get some to hand out right away. Give them to everyone you meet!
I personally am not a user (I know people do it) of a recorded message. Most new investors need to actually talk and screen callers themselves. This is how you learn how to respond to sellers and determine what strategy will work with their property. Recordings are impersonal in my opinion and just a way to avoid talking to people. You need to learn how to drive them to call. (marketing)It does not matter if you have an 800 #! Now if you get so busy you do not have time to respond THEN worry about an 800 number. I doubt this happens. I would rather talk to a human anytime, wouldn't you?

Just my opinions on this!
Good luck with your REI adventure.

Michael Mangham
MD Home Acquisitions LLC

and his answers can overwhelm even the staunchest of us. : ) I agree with what he has written. He's very skilled at REI. So, if you can catch up with him, stay in his footprints. I have learned so much from his posts.

My Google phone number will ring to my cell or allow a lengthy message. I have it text me a transcribed messages, which can be good for a laugh as the technology progresses. At any rate, it has been a great solution for me.

Vistaprint now. Good luck! and, peace,

Wow, Thanks for the great advice Michael!
I am SUPER new to real estate myself and your posts are very helpful. I am just trying to absorb my readings so far and really master a few key concepts. Do you have any suggestions as to which would be the top 3 concepts to master prior to making your first deal?

@ Kathy- I completely relate to feeling overwhelmed. There is a tremendous amount to learn about this buisness, but it is for sure the way to go. Good Luck! Ill be following your journey!

Pkieliszewska,

So sorry for just getting back to my post. I agree that Michael among many on Dean's website that are extremely helpful.

What I've learned in creating my Buyer's List is get used to knowing and asking them their criteria, what they are looking for (type of property) and how much they are looking to make on a deal. With this information you can begin searching on craigslist by posting and add to fit your buyer's criteria and getting you closer to making it your first deal. When the phone starts ringing and you begin talking with prospective deals to send your buyers you are on your way to understanding your objective.

Buyer's List #1 Priority. Business cards #2 and Talking to motivated Seller's to find their "magic buttons".

You too will soon be on your way!

If you want a 1800# set up at a discount you can set one up here through DG's website.

http://www.coasecure.com/

However I wouldn't recommend it because I had it and ended up cutting it because it was unnecessary and you recorded vm doesn't have to be very long. As a matter fact you can make it short and still build a strong list of buyers and sellers. I have found my callers to leave vm more frequently when I get straight to the point in my voice mail. Nobody wants to listen to a 10 min long recorded greeting.

1. Learn how to determine actual ARV of your subject property.
2. Learn how to accurately Estimate rehab/remodel costs
3. Learn how to get these properties under contract.

You can find all the magic buttons you want but if you don't know the numbers on the deal you are working you are wasting every ones time.

If you have nothing to sell, why would you need a buyer? Build your list while learning 1,2 and 3

99% of investors want a entry level. 1st time home owner type property in a decent area that they can get a 15% or greater ROI. Buy it in need of work Fix it up and sell or rent it. That is what they want!

Michael Mangham
MD Home Acquisitions LLC

Thanks for the great advice!

1-Check
2-Check
3-In progress

The business cards stumped me for a while and weather I was making it for the FSBO or the distressed seller, or for networking!?

Whatever you can do or dream you can begin it, Boldness has genius power and magic in it.---------Goethe

Thanks that's what I've been reading here on the DG site, thanks for your suggestion, will try

---Kathy