Real estate investing is indeed a process, but you’ve got to get started if you want to create wealth! There are a lot of 100% Owner Finance and Sub2 Deals available everywhere, but I wouldn’t recommend these to any investor who doesn’t have financial resources for repair cost or worse yet, stroking the note on a vacant property.
Networking is great, but your network cant do the work for you. I got started 14 years ago wholesaling houses. I started at the bottom and worked my way up. Wholesaling houses is the easiest barrier of entry to Real Estate Investing. Even in Wholesaling, fear can take over a Newbie, the question that everyone has to ask themselves in “How Bad Do You Want It”? In wholesaling, it is all about getting your marketing out and negotiating a great deal.
Here is a Formula that Newbies can follow:
1) Order a targeted mailing list of sellers in your area that meet your criteria
2) Get Your Marketing Out (Letters or Postcards)
3) Get More Marketing Out (Letters or Postcards)
4) Get Even More Marketing Out (Letters or Postcards)
5) Talk only with Motivated Sellers (purge the rest)
6) Use your formula to determine your offer price (so its a no brainer for the cash buyers)
7) Assign it, Double Close It, etc
8) Cash your check, rinse and repeat!
If case you didn’t catch on, real estate investing is 97% about marketing for motivated sellers and 3% the know how!
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