Too much information!? - Posted by lamarr

Posted by Jim Kennedy - Houston, TX on July 20, 2001 at 24:08:48:

Read the “How To” article entitled “Ten Ways To Find Owners Of Vacant Property” by Joseph M. Kaiser. You can find it at:

http://www.creonline.com/articl79.htm

Hope this helps.

Best of Success!!

Jim Kennedy,
Houston, TX

Too much information!? - Posted by lamarr

Posted by lamarr on July 19, 2001 at 21:41:01:

Hey folks, it’s the new guy trying to sift through the tons and tons of what I consider to be “golden” information at this site. I’m starting from “Ground $0” so it looks like “flipping” is the easiest way into the industry. Learn while you earn kinda thing I guess. Now I find that I’m not even doing this effectively. I’m supposed to have the motivated sellers come to me, I’m not supposed to drive neiborhoods looking for distressed and/or vacant property. I’m to put my efforts into marketing and then let the people with the propety, whatever property, come to me. This way I make the deal; with my pick of what sellers I choose to deal with. This is starting to sound “too good to be true,” know what I mean? I’m willing to do the work, ( I’m out of work so that’s not a problem)I just want to see the light at the end of the tunnel (and know that it’s not an on-coming train!)I’ll slide on my belly till I can crawl, till I can run, till I can HUNT! I’m just asking for guidance. Any and all is appreciated!

Re: Too much information!? - Posted by eric-fl

Posted by eric-fl on July 20, 2001 at 24:17:29:

LOL, if you think this business is “too good to be true”, then you simply haven’t started yet! I guarantee you will not think that way once you do!

It’s hard to get customers in this business, just like any other. Yes, you are supposed to be putting your efforts into marketing, but that doesn’t mean you’ll automatically have your “pick of what sellers I choose to deal with”. Marketing IS work. It’s not like you just put an ad in the paper, sit back, and wait for the $$$ to start pouring in. There’s plenty of good information here on how to market properly, I’ll not repeat it here. Suffice to say that, if you’re doing it properly, it will feel like work.

As for “I’m not supposed to drive neiborhoods looking for distressed and/or vacant property”, who the heck told you that? I think maybe you’ve read a lot of the posts here lately along the lines of “don’t call sellers, have them call you”, which I agree with. But those are usually in response to people calling FSBO’s and rentals out of the paper, looking for lease/option deals, and getting frustrated when unmotivated sellers don’t say, “yes, please come take my house!” Prospecting in distressed vacant properties is a great way to find deals! As far as putting your efforts into marketing, I’ve got news - tracking down owners of vacant, distressed properties, and letting them know that you buy houses, and that you solve problems, IS marketing! But again, send them a letter, or two, or five, and make sure they got it. But don’t call them, let them call you - in response to your marketing. See the difference? When someone is calling you, in response to your marketing, regardless of whether you found them, or they found you, you automatically know they have at least some motivation to sell their home. And the entire tone of the conversation is changed.

Finally, as far as “flipping” being the easiest way in, NO. As you can see, flipping means finding deals. Finding deals means marketing, in many forms. And marketing is work, and it’s not easy work. This isn’t one of those things that’s “too good to be true”, trust me. This is like any other endeavor, where the level of reward will directly correlate to the sum of your efforts. And that, of course, is entirely up to you.

Re: Too much information!? - Posted by BillW

Posted by BillW on July 19, 2001 at 22:03:35:

Lamaar,
Great pos. attitude. It will take you far.
Some things to think about if you’re going to do flippers.
Many flippers with potential are going to be vacant. Some will be bank repo’s. Some will just be abandoned. If they are abandoned, do you suppose the owners will care? Do you think the owner is sitting there thinking, "Gee, if I only called a rehab man, he would give me a few thousand for this junker!"
No, the owner has probably written this property off, in their mind. These are not generally the kind of people who read the real estate wanted ad’s in the paper. People who read those ad’s are the desperate ones that are facing foreclosure, who have a problem and WANT to solve the problem. Fine. Take their calls and solve their problems, BUT also keep your eyes open for “abandoned” properties. Research the archives for articles on how to locate owners of abandoned properties and get good at it, whatever it takes. I believe there is even a course offered on this site. Many people give up after one try. That’s why these properties are still sitting there. If the owners were EASY to find, some rehabber would have already bought the place and fixed it up. If you become the expert at finding the people, you’ll be well paid.
Now I don’t mean you should drive around all day looking, but drive a different way each day and just note down the ones that look promising. Then do the legwork and reap the rewards.
Good luck,
BillW.

Re: Too much information!? - Posted by lamarr

Posted by lamarr on July 19, 2001 at 23:50:49:

Thanx Bill,
I really needed the encouragement. You information was a good bit of just what I needed and I thank you for that as well. I’ll be up till I find out enough information on finding the owners of vacant and abandoned property. I just wish that I could express my sincere gratittude to all of you out there that are giving this information to us. This is what the Internet was meant to do, and on a greater note, it’s a great thing to see people “give back” to an industry that has done well for them. The old adage is true, here at CREOnline-“Each One, Teach One!” Thanx again everybody!