Hey All-

I am a part timer and like many work my *ss off for the day to go full time. I have been working at the various L/O techniques for a couple of years now. Things have been so busy this year and especially this fall doing L/Os (SLOs, CAs, POs) it’s all I can do to keep up as a part timer. My job is now getting in the way of my REI business. I’m not sure but I think I may be approaching that point of having to quit the job to grow the business to full time status. Yiiiiikes! Scared shitttless! Excuses my Italian.

The only marketing I do now for the past 6 months is…well, Craig’s list and email marketing and it is keeping me busy with leads and deals (1 to 2 deals a month on average, getting 3 deals this month). I feel that if I increased my marketing it may increase the deals and I could do this full time (3 to 4 deals per month).

The REI market in my area is not like Florida and other similar places. When things were booming there, we were flat and now that the bubble has popped, we are doing somewhat better here as far as appreciation but nothing to brag about. So, I do not think that this year’s increase in my business is driven by any major change in the real estate market in my location.

Lastly, (sorry I tried to keep this short) I know soon into this next year, I will need to make a decision that to continue to grow my REI business to full time status, I will need to quit the job and stop getting that paycheck. This is what I want, but to make that transition does not seem to be easy.

Hehe. . .I guess this is one of those "Be careful what you wish for" moments.
Steve, I remember when you first started. You've shared your growth with us here and it is very gratifying to see the results of your efforts. You deserve your success. But now you're at a crossroads and, yeah, it can be frightening. Tossing aside a guaranteed paycheck is never easy. (I was fired from my job as the world's worst salesman, so it was easy for me).
Don't rush the decision. You'll know when the time is right. Look at your options. Can you take a leave of absense? Go part time?

I remember I guy (can't remember his name) years ago on CREonline who, when he was in your position he decided to quit the stressful day job and get a no-brainer part-time gig packing trucks for FedEx at night.

That gave him 3 things:
1. Still got a guaranteed (albeit a smaller) paycheck to even out the ups and downs of REI.
2. It was late at night so he would sleep in the morning and had the rest of the afternoon and evening (prime real estate time) to look at properties.
3. Like most physical jobs, the packing job didn't take anywhere near as much mental effort as his old day job, so he could spend most of that time strategizing his REI plans and working out deal details.

Don't know if something like that is an option for you, but it seemed to work for him. After a couple more years of that he went full-time without any stress.

I've been thinking about going part time and that maybe a possibility. Currently, my wife is looking for part time work so that can help. What I am planing to do starting January is begin living off the $$ the business is generating and let the job income be the "extra" money. This may help in the transition. But I know that to take things to the next level the day job will have to go.

Ahhhhhhhhhhhh Slaaaaaaaamd!

5 deals this month, 4 CAs & 1 SLO. To hell with the part time job for the wife. I told the little lady it's time to pitch in on the family business and Heeeeeeeelp me!

Step 1. I handed her the "Manual"

Hey Stevie,

What part of the Country are ya gett'n all these deals in?

How are you finding these motivated sellers?

How / where are you finding your T/Bs?

Also, how long from start to finish did it take on average?

Inquiring minds wanna know (if you don't mind)!

So, you've handed the little woman the Manual eh Steve! Wouldn't that be funny if she became even better than you. You know, I hear that women can out-deal a guy anytime.

I'm still testing that theory myself. I'll let you know if and when that happens for me!

Anyway, that's so awesome. Congrats. And hopefully you and your wife will become the best damn husband & wife team in your area!

Cheers,

WCG

The first husband & wife team I heard about was Lori Samson and her husband (can't remember his name). He was some kind of consultant making a pretty good living, and she was a stay-at-home-mom. When the kids were old enough that they didn't need her 24/7 she started looking for something to do during the day, and she ended up chosing L/O investing.

Within 2 years she was making more from her L/Os than he was making at his job. So he quit and starting getting his own deals with a little guidance from her. Within 1 year he was also making more than he did at his old job!

Last time I talked to her they maintained a portfolio of about 50 SLOs and every year they take Thanksgiving-February off.

Like the rest of us she started with no marketing budget, so she called FSBOs and FRBOs. She eventually had an office of telemarketing staff making the calls for her. She claimed that there is NO reason why anyone shouldn't be able to get 1 SLO out of calling 10 ads--on average--and that's the standard she set for her employees.

Any chance I can get a residual??

"Hey Stevie,"
"So, you've handed the little woman the Manual eh Steve! Wouldn't that be funny if she became even better than you. You know, I hear that women can out-deal a guy anytime."

Ooops...WCG...ah...umm...Let me rephrase that. I ask, ok, begged for help that if my better half could focus some of her talents and fit it into her already busy schedule some help in the family business it would be an even greater help to me and us! ... AND the best way I know how to get off to a great start is by reading the "Manual" as the first step.

"What part of the Country are ya gett'n all these deals in?

How are you finding these motivated sellers?

How / where are you finding your T/Bs?

Also, how long from start to finish did it take on average?

Inquiring minds wanna know (if you don't mind)!"

I'm in NC.
I'm finding sellers: 75% email marketing (FSBO web sites) 25% bandit signs currently.
T/Bs oh my...everywhere, to many really. My cell phone is dead by noon talking to T/Bs. RTO signs, ads on Craigs List gets them call'n.
I'm not sure what you mean "how long from start to finish."

Doug thanks bud you have good examples of those who have come before. Keeps me motivated.

MC...What? you kid'n.. I'm build'n a huge bank role with your name on it!

Thanks for the support!

Hey Steve I'm curious what your email to FSBOs says? I've had a fantastic response to my email marketing to FSBOs on Craigslist for pure options, but when I'm looking for L/Os I get little or no response.

[I'm not sure what you mean "how long from start to finish." ]

What I mean is from you hooking that big fish onto your fishing pole um, I mean, the first point of contact with a motivated seller to finding a T/B, having all docs signed and YOU getting paid?

Keep up the great work Steve. We also appreciate you sharing your bait with us too!

Cheers,

WCG

What area of NC Steve? I'm north of Charlotte...KAnnapolis, myself, so it's really good to hear someone being successful near me I'm just getting back into it right now.

So what do you say in your e-mails for PO's? I discovered Craigslist, too. A beautiful thing. Sold a wholesale deal off of it. Getting ready to do another wholesale for $4k off Craigslist. Found a lady w/ a huge investor database and she's begging me for "Dayton Deals" as she call 'em. Lots of rehabbers on her list. Lots of cheap rehabs to be had here.

I'd rather deal in pretty houses, though.

Hey Doug I found a link from 2004 when I ask MC what I should say when email marketing. I have been doing it the same way ever since, and it works! See the second reply on this thread:
Email Marketing

nck-mail, I couldn't find the link but I continuosly run this ad and it is on my bandit signs: (from MC also)
"Will Pay ABOVE Market Price For Your House!" or "Family Needs A Nice Home In A Good Area To Lease With A Purchase Option." (from Naked Investor Manual)
Then I direct them to my web site as an intro to what I do, the same way you would use the Naked Investor flyer. I wanted the "slogan" to stand apart from the "We buy houses."


WCG, that's kind of tough because each seller is different. I just got a CA two weeks ago from a seller I spoke with in 2005. At lease 50% of the deals I get are from folks I have spoken to a few months back. I look at this month's marketing (November) as January's deals. And if lucky I'll get a 'quickie' before then. Oops I mean an instant deal.

Hey Gerald, I'm in the Triad area. I lived a few years in Charlotte while attending UNCC. Good luck getting back into it.

Thank guys, gotta go. I'm spent and need sleep. Introducing the Seller to their new t/b tomorrow.

Later