Adam King (MI) 1 Report post Posted May 27, 2004 Hey all,For full time investors:Sometimes I'm not as efficient as I could be and I think we could all learn from seeing what we all do within a week's time or so. Things like; what marketing was sent out, what you did to get the addresses etc. How you spent your time with the agreements? What things were changed to make the deal happen or not? What one "legal" factor/experience have you become more familiar with? Did you meet with other investors to work with? What was accomplished by that? And so on... And for people still trying to get going:What did you do to get people to call? What did you read to learn? Who did you talk to and what did you talk about? What inspired you during the week that helped you to stay motivated? Just simple stuff like that. I think it may be inspiring to see what happens in the real world for all of us. I also think that people that are afraid of making posts should do so here. I think it may be medicinal.Regards,Adam Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 27, 2004 Good idea, good post, Adam! This is an opportunity for sharing what is being done by various members to find deals. If anyone wants to go "on record" with their efforts, or lack thereof, here is a place to do so and to be held accountable. For what it's worth, my latest efforts have involved an email campaign towards FSBO's online. I have had a good response rate, (and a few students I am working with have reported equal success), contacting owners who are advertising their properties on Craig's List. "What's Craig's List?", you ask. A well known San Francisco based website that is a hodge podge of things for sale and odd ball information, with an emphasis on real estate. I was introduced to it a few years ago and then let it slip off my screen. Someone reminded me of it recently and now it's back on my radar. Take a look and see if you don't agree: www.craigslist.com. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted May 27, 2004 Adam- I think that's a great idea. It can keep one on their toes to look back to see what they have accomplished for the week. And can see what others are up to get ideas for the upcoming week. A kind of reality check. I am currently a part timer and am pushing myself to do more. Here is what I have done this week: Focus on Marketing:-Placed my first Lease/Option ad in the Real Estate Wanted Section to run for a month.-Research for bandit signs, the marketing forum hear seems to have the best deal.-Found a real estate investment group and will start attending monthly meetings.-Working on scheduling my time to allow 1 to 2 hours a day for marketing, specifically "warm calls." Met with an RE attorney to talk about an oops deal I had in the past. What did others do this week? <Steve> Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted May 28, 2004 MC,I just got done printing a ton of marketing letters for FSBOs and just to prove I don't totally think they're a waste of time I met one tonight. (Selling because wife was sleeping with the mail man. UGH!)I think the internet thing should pull in some deals. Steve,Good for you bro! You're making it happen!I think that everyone should post something here and let us know what you're doing in a week's, or even a day's time. The more I think about what I do a day's time would be easier than saying what happens in a week. Let's hear whose out there doing SOMETHING!!!Regards,Adam Share this post Link to post Share on other sites
jmccade 0 Report post Posted May 28, 2004 Since my wife is in a four week college course I have been playing Mr. MOM and have not been able to get everything done that I planned on. Never the less I have accomplished a few items. Monday - Finalized a sub-to which I will start marketing for a L/O next Monday. Tuesday - Started helping an associate with a property in N.C. Wednesday - Started working on two more short sales. Thursday - Met with home owner in foreclosure. She is considering selling by sub-to and then L/O a different home from us. Also connected with a new associate that has a "MEAN" network in place. This guy will be a great asset to my company. Friday - Planning on catching up on paperwork then taking momma and baby out for a meal and movie. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted June 5, 2004 OK Adam it's the end of the week! What have you been up to. Can't let you off the hook that easy! This is what was up this week for myself. Marketing Focus:Order my 1000 business cards which are a little different than my normal cards. These cards are geared toward sellers. And I plan to leave a trail of these everywhere I go. Made an offer on my paper ad from the week before and am currently working the deal. <S> Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted June 5, 2004 Steve,LOL Yeah, I was waiting for that.Totally honest, I just got up from a nap. It's almost 10PM. Here's what this week has brought for me. 1. Picked up a CA in Redford (Out of town sellers. Phoenix)2. Picked up a CA in Clio3. Picked up a CA in Clinton4. Picked up a CA Holly (This was the FSBO I posted about)5. Picked up a Subject to in Grand Blanc. This is why I had to nap. We spent all day filling a 30 yard dumpster with the crap the seller's tenant left behind. He's paying us almost $15K ($7,500 plus repairs and clean up) to take it and I thought I would offer my services to help clean. He's a new client too. I.e. seller and buyer/investor/client are both my clients. I charged him $200 for my guy "Rod" to help. BEAUTIFUL house!6. Completed foreclosure investing contracts for one of my clients. (Or, almost completed them. I am meeting with one of the partners tomorrow to go over the new system.)7. Negotiated a Sub to in PA and flipped it to a VERY cool investor in PA. (Waiting for the check to come next week)8. Sold 4 Pre Paid Legal Memberships and picked up 2 associates. (One associate in OH to still come aboard. hint hint (Someone one this board)9. Picked up a LO consulting deal. $500 to do contracts.10. Desperately tried to find a property for a gentleman before he was kicked out from foreclosure. Didn't make it. He's in the hospital with chest pains...11. Sold my Ranger. ($400) 12. Consulted with an investor I sold a couple of properties a few weeks ago to. He's filled them and now we're going to sell him another one.13. Did a CA in Flint. (That was the end of last week, but we finished the contracts this week.)14. Took a gazillion calls on the property in Wyandotte. It's a hole.....15. Working on a short sale in Mt. Morris16. Working on a short sale in Milford17. Picked up another investor/client. Like the others, he will pay for my marketing and get first crack on deals I don't take.18. Still trying to get the FSBO online thing going. Created a flyer and other marketing tools for it. Sent out several letters to FSBOs. Biggest lesson that I have learned this week; Pete and MC take the ENTIRE option consideration on a CA and I don't. (Most of the time) Time to charge for my services like an adult. My inspiration for the week; 1. Option 8 has more perseverance than anyone I have ever met. She has been truly inspiring and I am grateful to know her!2. Pete for doing his CAs. He really has a good REI head and knows how to work deals. It's been fun watching him accomplish what he has.3. This board. It's not huge, but there's a lot of people doing deals. And the people who aren't, are showing tremendous potential! Coolest thing that happened this week; The PA deal. Most important thing that I have done this week; Foreclosure investing contracts for my client. She's an attorney and between her and I, the contracts are pretty solid. This should be an integral part of what I do with my investing. It should take up about 40% of my time and should produce about the same in my income. That's the theory anyway. Most profitable deal this week; The Sub to in Grand Blanc. I'm making $7,500 for flipping it and filling it LO for my investor. He will make about $22-$25K with a few thousand up front. I guess you really don't know what you're doing until someone asks. This is a much higher than average week, but I think that when you really get going you have to really get going. I feel pretty proud looking back over this post, but the truth is it really doesn't seem like that big of a deal. Although a lot came across the table, it still felt pretty average. Regards,AdamPS Would you believe I'm still a full time "At home Dad"? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted June 6, 2004 I guess I asked. So Adam, what do you do on your spare time. sheeeesh Take care<S> Share this post Link to post Share on other sites
option8 0 Report post Posted June 6, 2004 Okay, Adam Before I get going on the next week's activities, I'll take time to review what happened over the last week. Cash generating activities:1) Consulted on the rental of a home---brought the tenant, signed contracts, etc... $1K at signing.2) Collected Deposit to Hold on a CA3) Spoke with 10 new buyers 4) Spoke with about 6 sellers5) Found buyer for 250K house6) Worked on a deal with Anthony (on this board) for a LP flip to an investor Marketing 1) Sent out a few LPA over email---not enough2) Put new ad in paper3) Set up relationship with realtor What one "legal" factor/experience have you become more familiar with? the Distinction between the Assignment of Agreements from CA Assiignment of Agreements---thanks Michael! Did you meet with other investors to work with? Yes (6)What was accomplished by that? -1 referral -1 possible CA -1 desiring many houses on terms -2 well-connected wholesale contacts -1 investor out actively shopping for properties for me to fill on CA. -Put the seller of a 21 unit intouch with a buyer....good karma, good deal---they've met twice already Misc, but important stuff...1) Worked on filing system2) Business Plan - Spent a great deal of time on formal finincial projections, setting goals and planning next steps to take this to a higher level! Carry over into next week:I ended the week with 4 uncontacted leads on my plate for buyers and sellers.Have about 5 properties to flip-need to get these off to investor. What inspired you during the week that helped you to stay motivated? THISOption 8 has more perseverance than anyone I have ever met. She has been truly inspiring and I am grateful to know her!THANKS! I kinda' like you too! And a friend took me to meet with some sellers this week (if you didn't know, I'm doing this business without transportation right now!) She heard my "sales pitch" and was very complimentary about my delivery. I respect her opinion and appreciate her feedback. And the results recently posted by everyone now making phone calls! And Adam's entire post! Man you make me want to dig in harder! Your activity level really is an inspiration---I guess I need to go back to my projections and alter my numbers....DARN IT!----your level was to be my activities for a month! Once again, you are raising the bar. This is a good exercise and I thank you for suggesting it.option8 Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted June 7, 2004 Option 8,Shucks...... Well, it would seem that you're rockin and rollin as well. I actually made a mistake and offered my labor to help clean, paint and tile the sub to. (Yes I'm getting paid) We have most of it done and I found a buyer yesterday. BUT, I don't think I'm going to allow them to purchase under their terms.I think we would like to get the full consideration ($8,750) down since we've done all of this work. They were going to only put $5K down since we didn't do the paint yet. Well, we did it today.....Good thread to see what we're all up to.Regards,Adam Share this post Link to post Share on other sites
mpine 0 Report post Posted June 11, 2004 What a great thread. This week I have emailed to 20 FSBOs, and next week I will follow up with a mail campaign to the 20 FSBOs as well as several expired listings I sent mailings to 2 weeks ago. Unfortunatly MLS and FSBO sites in my area never give a phone number of the homeowner. I did have the owner of my local FSBO call me to ask where he knew my name from, turns out I used to manage his computer network back in 1990-1993. So he promised to send me all the motivated sellers that are looking to be out in under 30 days. Hopefully he isn't FOS. Mike :ph34r: Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted June 30, 2004 Little update on what's been new. 1. Picked up a CA in Redford (Out of town sellers. Phoenix) Sold, $2,100.00 2. Picked up a CA in Clio In Forfeiture and waiting for vacancy so I can fill it. 3. Picked up a CA in Clinton Sold, consulting fee. 4. Picked up a CA Holly (This was the FSBO I posted about) Went out of town and told the seller to hold off on the contracts until I got back. He sold it. You snooze you lose.... 5. Picked up a Subject to in Grand Blanc Attorney hell. (Although I dig the guy) He tore it apart and it turned into a $5K consulting fee. (YES WE ARE USING MY CONTRACTS!!) Been paid $1,500 so far and getting the other $3,500 on Sat. MY DECISION TO GO ALONG WITH THE ATTORNEY!!! 6. Completed foreclosure investing contracts for one of my clients My new pride and joy. Starting doing deals and getting set up to do speaking engagements again. Time to dust off the suit... 7. Negotiated a Sub to in PA Jerk didn't pay. Going after him with our attorneys. 8. Sold 4 Pre Paid Legal Memberships Still rolling. Signed up a new associate. Cool guy. 12. Consulted with an investor I sold a couple of properties a few weeks ago to. He's filled them and now we're going to sell him another one. Selling him three more. 14. Took a gazillion calls on the property in Wyandotte. It's a hole..... Working to do a short sale. Too much work. 17. Picked up another investor/client. Like the others, he will pay for my marketing and get first crack on deals I don't take. He gave me a check for $1,000.00 to market. Goes out on the first. New deals.1. New CA in Redford 2. Straight Option with another investor on a $400K house3. Possible SLO in Corunna4. Foreclosure bailout looking to profit $17K5. Consulting proposals for a few new investors6. Three properties to move in flint7. Short sale in Montrose8. Short sale in Milford9. Locating program is now in full tilt. 30 calls over the weekend!10. Secured $12K from two meetings this week from the locator program. That's about it. Just working on what's on the table. Biggest lesson this week.Take your time, take a breath and JUST RELAX! Second biggest lesson.Sometimes you'll have all of your bases covered and still someone will be a $#@%! (I.e. PA deal) Inspiration of the week;The bald eagle from the UP trip. Man, what a cool bird.... Coolest thing of the week.The straight option deal. VERY cool new investor to work with. Great lady. Doug's input on NoDiscount.com. I think we're going to go for it and try this system.Regards,Adam Share this post Link to post Share on other sites
Golflover 0 Report post Posted June 30, 2004 Adam, Theres no doubt in anyones mind on this forum that your an inspiration to all of us full and part time investors. I'm assuming that your a full time investor, since it looks like you have things going on all over the place? How long have your done this full time and did you start off part time or did you just quit your job and jump in with both feet? Just when i think i've accomplished something, i read one of your posts and realize that... whats taken me a day or week to obtain, is something that you do while your sleeping Keep up the great work and if im able to do half the deals and be as motivated as you are, I will have a great investing career. Golflover Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 1, 2004 Golflover,Man, thanks. I am motivated because I have been able to see the final and forbidden vision. I ain't gettin any younger.... I'm 32 and I've wasted enough time screwing around. I have a family now and I also have dreams that have all been put in the proper place and require REI to get them in full swing. One thing I want to make crystal clear about how I can do so much, is that I ALWAYS work with other people and learn from them. Yes, I'm including people from this site too. I have seen quite a few people actually learn from me and then wind up teaching me a new angle. No one is smarter or better than anyone else, we just "need" each other to pull ahead. Now, with that out of the way, I'll answer your question. Yes, I'm full time. No, I didn't really quit a job, but I did stop running my own company when the time was right. (Deck Restoration) Yes, I was broke. Yes, it took me two years to get a deal and yes, I'm still learning. And for the million dollar answer to how to get started and be successful, get out of your own way. This was the toughest part for me because the voice (Ego) inside my head has always been so loud. I am now just beginning to realize it has been lying to me the whole time. You don't need a millionaire background, but you do need to listen. (To the right people) Regards,Adam Share this post Link to post Share on other sites
