By: J. Massey
If you’re like me, you like to move fast. Now that you’re thinking about becoming a Real Estate Investor, you want to take the fast track, but you don’t have any money and your credit isn’t all that great either. You’re in luck.
You can start right now… today… investing in Real Estate using NONE of your own cash or credit. It’s called wholesaling and it is the fastest way to start earning big returns as a Real Estate Investor month after month after month.
How do I know? That’s exactly how I got my start in Real Estate Investing, and I earned six figures my first year!
How did I do it?
I didn’t just get up one day and say, “You know what I’m going to do? I’m going to become a wholesaler, find deals and turn them into fast cash.”
No, that certainly didn’t happen.
I took Real Estate Investing training before hittin’ the street looking for deals. I practiced what I learned in my training immediately. I call it learning at the speed of instruction, and that’s what I want you to do.
What’s exciting is that once I learned the basics I realized that deals were everywhere! So were sellers, buyers and investors.
Once you know how to wholesale – and you have determined your market, which means you know whom you will serve — you need to find sellers and buyers in your market. And a few investors to help you wouldn’t hurt.
So where are these people?
There are several websites that show you homes across the land that are For Sale By Owner (FSBO). Another term you can use is “seller financing.” That at least tells you that there are plenty of sellers who would probably like to talk to you.
Some sites require a membership fee and others don’t. Some are sites you might be very familiar with and others you probably have never heard about before. Spend time researching the best sites. The Cash Flow Diary Core Membership puts you in front of deals and investors… and you get lots of education, too. Check it out.
2. In the newspaper.
In my book, Cash Flow Diary, I give examples of ways I use the newspaper to find sellers, buyers and investors. I won’t give it all away here, because I talk about this in several places in the book.
This is a short blog piece, and I can’t cover everything here, but I will say that the clues are in the news headlines! You can learn which big companies are moving to what city and state. You can spot trends if you have eyes to see them and your brain trained to look for opportunities.
Again, I didn’t just wake up one day with the skills to use the news to spot the clues. It took training. I also read a lot of books and listened to a lot of podcasts and audiobooks.
3. By talking to people you know.
How will you know whether your Aunt Sue or Uncle Bill might be thinking about selling their home if you don’t talk to them or the other people in your family? What about the neighbors? If you don’t talk to people about being a wholesaler and about your goals, how will they know you’re doing Real Estate Investing?
That said, I can understand if you don’t want to involve your family in your new goals. Sometimes without meaning to (and sometimes they do) your loved ones can work against your goals. They can be your biggest naysayers.
You need to surround yourself with positive people with similar goals. That means talking to strangers.
4. By talking to people you don’t know.
Here’s where developing your short elevator pitch is necessary. As a wholesaler and Real Estate Investor, you will want to talk to lots of people you have never met. It’s called marketing and you can’t avoid it. You are spreading your message and goals.
You will tell people that you are a wholesaler, what that means and what you are looking for so that you can help as many people possible solve their problems. That’s right. That’s what you’re doing. You are solving problems through your deals.
Get yourself to as many Real Estate Investor networking meetings as you can. Attend and host Cashflow 101 board game events. Start and join Meetups. Introduce yourself to people in coffee shops, like Starbucks, which is my second “office.” Often you can find me at the Starbucks near my home actually talking to people about deals and doing coaching calls. I like the energy of the place. It inspires me to keep my energy up as I chat with people.
That’s all you’re doing. Having conversations with people about what you do and how you can help them. It actually takes just 10 simple words to get the ball rolling!
Other people you don’t know (yet) are also professionals who work in the Real Estate Investing and home buying and selling market. There are Real Estate agents, accountants, tax people and attorneys who might know property sellers and buyers looking for your type of problem-solving. These professionals can be found at business networking functions. (They aren’t hiding.)
5. Find them in your own neighborhood.
Have you taken an extended walk through your neighborhood recently? There are clues that tell you what’s going on, if people are moving, if properties are empty and if people may be having problems you can help to solve through a Real Estate transaction or two.
I talk about this in different Cash Flow Video Diary entries that you have access to with the Cashflow CORE Membership that you find on www.cashflowdiary.com/training.
I even take strolls around my neighborhood to give you examples of what to look for. Of course, one thing would be a for-sale sign, right? But there are lots of clues hidden in plain sight.
When you’re taking your nightly neighborhood walk-about, stop to chat with neighbors. They know a lot! The same is true in other neighborhoods.
Get good at asking questions that lead to legitimate and revealing conversations about what’s happening with other people’s houses. People love to give you the inside scoop once they feel comfortable with you. Develop that trust and you could have a referral source!
This is just a short list to get you started and to show you that property sellers, buyers and investors are literally everywhere. Gathering lists of these leads is your fastest way to earning money as a Real Estate Investor.
Remember that before you look for that first seller and that first set of buyers, you need to understand your market. Knowing whom you serve is the key to your success. That is as true for wholesalers as it is for any Real Estate Investor.