It has been a while and I am sure you haven’t missed me because I haven’t gotten much flack about it. 
This is my first update in a while. A lot has happened lately in my Real Estate Business so let me start with, I am still at it! Beyond my full time job and my kids my main focus is working my real estate investment business.
My focus of my business has changed a bit. Now that I have been able to get a few private investors on board for some projects on my own, I have been looking for a rehab project or two to get my feet wet. I have been investing in other rehabs with my IRA money but now I am ready to take one on myself. It is very exciting.
I have learned a lot about dealing with Real Estate agents and what I look for in a quality agent. I have had a couple try to get me to buy houses at what they though was a discounted price but ultimately would have been a losing adventure if I invested in it. I am glad I learned from some experienced people what to look for in deals and how to calculate ARV and rehabs. Most realtors speculate what they think they could get for a property as an ARV and not what the realistic value is. Plus I have had some weird situations where the realtor actually uses very bad comps and it takes me explaining to them that they are doing comps wrong… not good. Red Flag!
I took a little break doing direct marketing as I am getting ramped up doing postcards now. I am going to use this as a main direct marketing campaign and give it a shot. Still going to send out 200 per week to designated lists I get from the MLS.
I am also still putting signs up every other week in my market areas. Recently these haven’t turned up as many leads as before but it might be because they are getting taken down faster.
Craigs list is another consistant marketing avenue but it rarely brings me a lead. I have also tried using Facebook Ads to market to motivated sellers. Nothing yet on that front either.
Another main way I am getting properties is just networking. I want to know anyone and everyone in my area who is wholesaling or listing distressed properties. I want to be their best friend. So far this is working out because I am getting more and more properties from this. I am also getting connected with bulk REO groups and possibly pluck a property or two from those guys.
One other area I am looking for properties for are Lease Options. I love the idea of this exit strategy. I read the book “Making Big Money Investing in Real Estate, without Tenants, Banks, Or Rehab projects”. Great book and awesome negotation techniques in it.
So I have some good strategies in my mix now and I am just pluggin away and hopefully will shortly start turning some deals in my direction.
I have had some mental challenges recently about my business. “Is this ever going to work out and be a profitable way to build a business etc…”. I have successfully warded those feelings off by remembering that the successful entrepreneurs use that situation as a fork in the road and a deciding point of success or failure. I choose success so I am focusing on what I can learn from the situation and get more efficient or change a strategy to move my business forward.
Well, that is it for now. Thanks for reading and I’ll try to update a little more frequently.
