Frustrated!! Help Me!!

[Kyle-OH 0]

Yes, Thats right. I am having my doubts that I can make this business work and make a consistent living at it. This is not my "normal" frame of mind but when you have been trying to get a lead wrapped up for 4 months straight with nothing. You start to have to wonder.

 

 

I have access to the MLS and I send postcards to expired listings.

I send emails to FRBO and FSBO on Craigslist. (There are not a lot of quality leads on there,bunch of junk)

I send letters to Probate Properties.

I have called adds in the newspaper as well.

 

 

The only thing I have not tried is when I see a FSBO sign in a front yard just walking up and door knocking.

I also have not tried the "we buy houses" signs.

 

What Gives here? I know every market is different but I live in an area that seems "normal" here in ohio.. What are you guys doing to get consistent QUALITY leads everyday.

 

I desperately want to make this work. And I am willing do to ANYTHING to see that it happens BUT..

 

I feel like I am beating a dead horse here!!

[lhenley 8]

Kyle,

 

Maybe it not the how you're marketing, but what you're saying in those letters and postcards? Are you asking for a Lease Purchase in your marketing? You'll better results if you say something like "I want to buy your house." Then you can try and convert them to a LP.

 

Have you tried the "yellow letter" type of letter? I have used it on MLS expireds, and it gets your phone to ring.

 

As far as Probates...I too have not had any luck. Not to say it doesn't work, over time.

 

Just hang in there.

 

Lynn (FL)

[Jason (AL) 1]

Don't sweat it, Kyle.

Even though it can be frustrating when you're not

seeing results from your efforts.

 

I, too, am curious as to what you're saying and how you're

saying it.

 

Also, what type of deals are you hoping to sign up?

 

I use different marketing efforts, verbiage, and what/how

I say things to get different deals.

These days, it's either a CA/consultation or a slight variation

of a sub2 deal.

 

Keep your head up in the meantime.

[Kyle-OH 0]

Hey,

 

I have been focusing on CA's. I market to buy the property(cash offer) and then if the cash offer is to low(which is always is) ... I will offer a CA......

 

When talking to these sellers, Do you guys go into detail that you will do all the marketing,showing,paperwork on the property and that your services are free (kinda try to sell the idea to them) OR do you keep it simple and say that you will lease their property from them with agreed terms and then when you find a qualified t/b for the property you will notify them...

 

I know there is not some magical place to get leads from but I like some kind of structure and I get very few leads from craigslist,newspaper,expired's per day. I want to work on this more then 1 hr a day.....A lot of people say this can be a full time job and I do not see how it is....I wish it was a full time job because maybe I would see some results.... I am only shooting for 1 CA a month. That's It.

 

 

To the folks at least doing 1 CA a month. What does your marketing campaign look like? How many hours do you spend each day doing marketing?...

[Guest Diver]

Kyle I hear ya. I've tryed everything and have come so close dozens of times, after 10 months I have desided to do other things. Adding to my unproductive arsenal. Diver

[Kyle-OH 0]

Kyle I hear ya. I've tryed everything and have come so close dozens of times, after 10 months I have desided to do other things. Adding to my unproductive arsenal. Diver

 

 

Yeh, I tend to have a hard head and never take no for an answer. So, I refuse to give up. What were you doing to get leads?...

[dionwisn 0]

Kyle I hear ya. I've tryed everything and have come so close dozens of times, after 10 months I have desided to do other things. Adding to my unproductive arsenal. Diver

 

 

Yeh, I tend to have a hard head and never take no for an answer. So, I refuse to give up. What were you doing to get leads?...

Its funny you guys say this because I too have recently thought about throwing in the towel. I understand the concept and are'nt bashing Michaels manual. I think that some have better results than others based on their location. Me being in florida I have a real hard time getting deals consistantly. But investors like Steve and others seem to be doing very well. Landing deals consistantly has'nt been going well for me either. I really dont get why this stuff works well in one area but not the other!!!

[Kyle-OH 0]

Kyle I hear ya. I've tryed everything and have come so close dozens of times, after 10 months I have desided to do other things. Adding to my unproductive arsenal. Diver

 

 

Yeh, I tend to have a hard head and never take no for an answer. So, I refuse to give up. What were you doing to get leads?...

Its funny you guys say this because I too have recently thought about throwing in the towel. I understand the concept and are'nt bashing Michaels manual. I think that some have better results than others based on their location. Me being in florida I have a real hard time getting deals consistantly. But investors like Steve and others seem to be doing very well. Landing deals consistantly has'nt been going well for me either. I really dont get why this stuff works well in one area but not the other!!!

 

 

Yeh, I have noticed that others seem to do better in other areas as well.....All I need to land is one deal a month and I would be ecstatic. Where are you located at?.......Let's not give up, Let's share some ideas....

 

What do you do for marketing and how many hours out of the day do you do it?

[Guest Diver]

Listen to this. After my first reply last night I checked my email. The gal I supposed to meet this morning and give me money bailed. Lost her. Now to make matters worse she drove around the neighborhood and found a home I was only internet marketing for another investor. I'm not allowed my own sign on this deal. She had overheard me talking to deal #1 owners, she went down to the other house, got the phone off his sign and is going to buy it. I lose again. Frickin pin heads in MI. I really like the manual as well and have sent many of investors here. What did they used to say location-location-location. Diver

[MichaelC 160]

I hear the frustration, and I remember all too well trying to break into this business back about 15 years ago. But you've got to be thick skinned to make it in this biz. That means accepting the close-but-no-cigar deals, the homeowners that lied to you, the no-shows, and all the other associated BS we all put up with on a weekly basis. If you think it's nothing but smooth sailing over here for me, or any other veteran investor, think again. I have to wade through the same muck that you guys do. So, what do we do about it?

For starters, be persistent. If you try something once or twice and it doesn't work, try it again, tweak it, review what went right and what went wrong and get back to work.

I also hear complaints that "this stuff works better in some areas than others". Perhaps that's true, but I'm not sold on that theory just yet. Be that as it may, in this day and age why not then look outside your geographic area? With a computer and a telephone, you can just as easily do a deal in Florida as you can in Oregon. Widen your circle, expand your marketing into other areas, and increase your chances for success.

Finally, accept the fact that as a n00b in this biz, your lack of experience will cost you a few deals along the way. New investors have a tendency to give control to the homeowner and that's when things go awry. For example, for the sake of getting that elusive deal it's all too common to overprice a property to get the homeowner to sign on the dotted line. But what's the point if you are unable to find any takers once you sign up your first CA?

If you find yourself feeling a little bummed and burned out, take a break for a week or three. Then come back with your batteries fully charged and a determination that you're going to get just one deal. You can, and you will. Come back here. I'll do what I can to help, as will many others on this board who have gone through the very same things.

[dionwisn 0]

I also hear complaints that "this stuff works better in some areas than others". Perhaps that's true, but I'm not sold on that theory just yet.

MC, my theory is that those in the big city have a harder time tieing up properties due to scenic conditions. Conditions that exist in florida are more investors therefore more landlording. I would say in my parts about 70% people I talk to have mulitple properties and know how to do a lease purchase. Another idea I have is that most have flocked to my region and have settled since the big boom in 2004. Those same people have biult this expectation of getting top dollar for their property and not settling for someone like me to take a piece of it. You would think we can help them but they want to do it themselves. In comparison Area's like North Carolina where people really havent experienced a big boom are happy to accept any offer just so the property doesn't sit. Most regions there aren't as fast have a very steady market and more than likely less investors since no boom exists. Where theres no boom theres no urgency to invest there's nothing to be gained.

[Jonathan RexfordFL 8]

WoW......

[BEV! 0]

I have so much to say, yet so little time but for now....

Yes, this can and is a full time thing (CA), I've been doing it full time for the past 4 to 5 yrs... I'm the only income in my household for the past 5 yrs.

 

I know is not easy (nor has ever been) getting leads, specially these days.

I've always gotten my leads through CL 100%

Have any of you tried emailing the "house sharing/room sharing" section on CL?

I did, and it got me a deal already.

 

I'm thinking, if a family is renting out a room in their home, chances are they're doing it because they're in financial crisis and need help asap.

So I emailed them and it worked.

 

Just a thought as I gotta run for now.

 

BEV!

[Kyle-OH 0]

I have so much to say, yet so little time but for now....

Yes, this can and is a full time thing (CA), I've been doing it full time for the past 4 to 5 yrs... I'm the only income in my household for the past 5 yrs.

 

I know is not easy (nor has ever been) getting leads, specially these days.

I've always gotten my leads through CL 100%

Have any of you tried emailing the "house sharing/room sharing" section on CL?

I did, and it got me a deal already.

 

I'm thinking, if a family is renting out a room in their home, chances are they're doing it because they're in financial crisis and need help asap.

So I emailed them and it worked.

 

Just a thought as I gotta run for now.

 

BEV!

 

Thanks for posting....When you get time, post the rest that you have to say....Thanks

 

 

I wish I could get all my leads from craigslist, but it seems in my area that there is a lot more crap on there then anything....I will still use it as a source but definitely will need more then just craigslist....

[Guest jvmccall]

I am in St Louis and am getting more CA business than I can handle. And I don't think it's because I am in any special market. Every market is different, but I am convinced, absolutely convinced, that this can work anywhere.

 

I'll tell you what it takes - persistence, patience, practice (and any other pithy word that starts with "p"). In my opinion, one reason why most people who "try" real estate investing fail, is exactly that... they are only "trying" it out. They give up too soon. And honestly, their marketing & sales skills suck.

 

Listen, this business is ALL ABOUT MARKETING AND SALES (and marketing to motivated sellers). Period. If this is not working for you, there are probably 2 reasons: 1) you aren't marketing enough, and/or 2) your sales skills suck. If you are doing your marketing half-shod, a little here and a little there, trying something new for a little while, then trying something else, and then trying something you did earlier, not sticking with 1-2 things that work well for others, not marketing for motivated sellers, and then complaining that nothing works, well duh...

 

Something must be said here for mastering sales skills. If you are not good at sales, if you are not good on the phone, if you aren't confident, if you sound nervous or unsure when talking to sellers, if you are timid & unassuming by nature, you probably won't get very many deals in this business. I would recommend getting some basic training on sales. Make a sales presentation to some friends & ask them to honestly critique you. You have to know how to sell yourself. Work on your elevator pitch. You should be able to tell a Seller how you can solve their problems in 30 seconds or less. Go to the library and get some audio books or videos on sales. Forget real estate investing for a while. Focus on "sales training".

 

Maybe this business is not for you. It's not for the faint of heart. I get discouraged all the time. But I am always filling my pipeline. My marketing never stops. I am always making offers. I get rejected 5 times for every 1 deal I make. Just today, I got a great lead from someone I originally sent a postcard to over a year ago. Most deals I get are from the 2nd & 3rd follow-ups with sellers.

 

Stick with it. Don't give up on marketing. Practice your sales & presentation skills. Find what other successful investors are doing and just copy them. It's really simple. It's not hard at all if you really want it bad enough.

 

My 2 cents... I hope I didn’t sound too harsh. I just get frustrated because it sounds to me like some here are saying that if this business doesn’t work for them, it's probably their market, or something else besides them. Maybe the training material is wrong. Or maybe those that are doing well are not telling the whole truth. I know that’s not what people here are saying, but that’s what I am hearing.

 

So stick that in your pipe and smoke it.