I apologize for the lack of any real updates on how my probate investing has been going. I’ve continued to send out my mailers and have been getting calls, but non have been motivated or really willing to sell at this time. Instead of writing the same old thing every week about sending out mailers and talking about non motivated callers I’ve been trying to break down every single aspect of what I’ve been going through (talking with callers, keeping track of sellers, timing of sending out mailers, etc..) and explaining it in detail to try and be as helpful as possible for anyone just learning. By the increase in traffic these past few weeks it looks like nobody has minded at all.
This is the part of investing I imagine where many people will start to slack off and give up. If you ever hit a lull like this, take the time out to re-evaluate what you are doing, make sure adjustments and keep moving forward. I am also taking this time to strengthen my relationships with other investors. This has two very useful effects…
- Keeps my momentum going. Talking about real estate investing with other like minded people and hearing about other deals really motivates me. The week after one of the REIA meetings is usually my most productive time.
- Builds a solid support system. Even though a deal hasn’t come my way just yet, I’m not afraid anymore if one does. The reason is that I’m always building up my relationships with other experienced investors who will be there for me when I need help. It’s a powerful feeling to know you are not having to go it alone.
If you are in the New Jersey, New York, Pennsylvania areas feel free to drop by our meetup meeting (founded by Jon Zorrer). It’s a great group of investors who’s main goal is to network and help each other out. There are meetings every other week (which I love) and a rapidly growing membership. The cost is free so come and join us. The next meeting is May 13th. You can read more about it here at Real Estate Deal Makers Mastermind.
Also If you are like me and interested in joining multiple groups, send me an email (scostell@yahoo.com) and I’ll tell you about a few more great groups that meet on a monthly basis.
If any of you would like to build a good support system and is interested in connecting with me you can do so below…
Follow me on Twitter @ Twitter.com/StrgglngInvstor
Follow me on Facebook @ Facebook.com/StrugglingInvestor
Connect with me on Linkedin @ linkedin.com/in/sjcostello
Connect with me on BiggerPockets @ biggerpockets.com/users/scostell
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hehehe Scott I just signed up for the meetup group that you mentioned! I'm sure I'll be at a meeting at some point. I have to figure out how far you guys are from me.
That would be great if you could ever make it, but I'm thinking it'll be at least a 2 hour drive. Hardly worth it for a few hour meeting. Thanks for signing up though.
Hi Scott – I have been investing for about a dozen years. Until about 2 years ago I had another full time business so my investing was kind of on the back burner. I am now a full time investor and I understand what you are going through. Probate investing is one of my preferred types of investing. There are many ups and downs in this business for sure, but you just have to keep plugging away.
I spend a lot of time with the people who call me whether or not I think there is a deal. Just today I talked to someone for a long time that had a house that just wasn't going to work for me at this time. It's in great condition, it's listed with a Realtor (who has it over priced) and they want way too much money even without a Realtor. I gave her some different options that might help her. One of them was to educate her about presale home inspections and how they might benefit her in this particular situation. Many times I have gotten a call back and have bought a house after “plan A” didn't work out for the seller. In most cases they have told me that they called me rather than another investor because I spent time talking with them earlier even though I couldn't help them at that particular time.
I have a realitively new blog that you can check out where I post real estate related articles. Take a look at: http://bit.ly/LouisvilleGalsRealEstateBlog
Hi Sharon,
I'm definitely beginning to understand the ups and downs of being an investor. One big thing that I've noticed is that momentum is key to success. It's a slow build up but can go away in an instant.
I'm a big believer in forming a connection with sellers as you are and I'm working on getting better at making those connections. It's good advice you are giving!
I took a look at your blog and I like the content you have on there a lot. If you like go to this post..
http://www.strugglinginvestor.com/2010/02/have-…
and place a comment there to advertise your blog. Might help in getting some visitors.
Thanks so much. The blog is fairly new and I am trying to drive traffic to
it. I seem to be having pretting good luck with the ping services (all
free). Are you doing this?
Constant marketing is the key to this business. When the marketing slows
down then there are no calls. It is easy to get distracted.
Keep in touch.
Sharon