Aside from the two calls on Saturday, I got nothing in the form of property leads. Sunday was quiet all day long. I never did call the second caller back, mainly because I knew it would be a wasted call. I figure if he was motivated, he'd want to talk to me NOW - not during a ridiculous one hour timeframe of his choosing. Maybe it was a blown lead, but I seriously doubt it. I did drive by his property, since it was right down the road from me. It looked about what I thought it'd look like. The only difference was I didn't see the one acre he said it was on. I figure at best, the place was on a half-acre lot.
I decided to pick up the bandit signs on the way into work rather than Sunday evening. I usually get up at 5:45am and get to work by 6:30-6:45am. This morning I got up 30 mins. earlier to give me time to pick up the signs. Of the seven signs I put out, only three were missing. I drove by early Sunday morning to the grocery store and noticed then that two of the signs were gone. The third missing sign I put in a shopping plaza, and kind of figured it'd be gone quickly.
I was disappointed in a very big way. I thought the signs would yeild a lot more calls than two. I guess I'll need to be alittle more persistent in getting the signs out on the weekends. I also need to step-up my marketing campaign (which I mentioned in a recent blog).
I did manage to mail a letter to an out-of-state owner of a property I've been watching for a few weeks now. The grass was starting to grow high on the property, and I haven't seen any signs of someone living there (i.e., renters). I did some research and found the owner lives in California, so I shot her a letter on Friday. I also had two strikeouts on some REO's I found recently. Both were sold in a couple of days before I inquired about them.
2 comments:
Aw, rats. That REO was sold? Bummer. Well, at least you are getting a better picture in your mind of what you'd like to look for. I'd also recommend you start looking for a real estate agent who is also an investor. Ours has been invaluable. They'll give you lots of leads and teach you along the way.
My previous agent was an investor, also (albeit new like me), but she dropped the ball on a lot of things. I need to find another agent to help, and have found a few that are supposed to be investor-friendly. I just need to find the time to call or email.
My biggest push now, though, is going the other route. That is, getting motivated sellers calling me intead of me finding the properties. Don't get me wrong, I'm still looking at HUD, VA, FNMA, FMAC, REO's and the like, but in my areas there is stiff competition for those types of properties. Auctions seem like a good place to pick-up a property, but they usually require a few thousand to put down the time you win the auction. I've also been looking into tax liens/deed sales.
As you can see, I've opened up a lot of pipelines - now I just need to get some deals coming through them. :)
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