New to the website. Hi everyone!
First I want to say hi to everyone 
. This is my 1st post - I just joined.
Some info:Just moved to Brooklyn from Queens, married, 3 boys, 29, been studying REI for about 3 mos. Bought CS cource, curently reading Kevin C. Myer's "Buy it, fix it, sell it, Profit" book but not 4 me right now. Just stick to flipping for now. So now I'm thinking about buying Stephen Cook's “Wholesaling for Quick Cash: A Real Life Guide to Flipping Homes."
I spoke to 2 real estate agents. One doesn't take me seriously (to her I'm just the guy behind the counter at the cafeteria) and the other one said that it's very competative in NY. As an example he told me about this junker and that the owner is asking 400K because she knows that a big company is going to come and buy the property, take the junker out of the way and build an ap building. I'm trying to keep my spirit up and not quit. Banks won't give out REO lists etc etc etc.
BUT, I got quite a few lists of preforeclosures from a mortage broker friend(did some birddogging for him but none of the props {about 9} that I found worked out.) How do I do this now? I thought about sending out "I buy houses" postcards. Any suggestions will be appreciated. 
Well, off to bed now
Nice to be here.
Panos A
Hello Panos,
We have much in common. Let's see I lived in Brooklyn & Queens (went to Queens college & did a couple of years in Brooklyn College) Lived in the park slope area of brooklyn and lived in kew gardens in queens. Now i'm in connecticut. Also 3 kids.We lived in the west coast for 16 yrs
I too purchased CS to get me started. bought it in 2000 & bought my first rental property in 2001 (the conventional way) I did learn alot from the course. Iam now trying to learn to do other types of rei, the creative way!
This is a wonderful site full of knowledgable individuals who are caring and always there to help you out.
Just be patient, learn as much as you can read the articles in this forum, ask questions, being successful in re takes a while.
Wishing you the very best in your new journey in crei.
Lil
Panos,
Glad to meet you.
I recommend that forclosure investing is more for the expierenced investor.
How long have you been investing? I am not trying to get personal, however is your financial situation such that you can cover the costs involved with forclosure investing.
Sending out "I Buy Houses" would not be my approach to reach the target audience you are interested in reaching if this is the method of investing you are interested in.
Welcome on board this board, a little more information would be helpful in guiding you in the right direction.
John $Cash$ Locke
Hi lilct and John.
Nice to meet u.
John,
I dont have the experience nor the money to do this by my self now. What the mrtg broker suggested is to go knocking on these people's doors and talking to them about finding a way to solve their problem. If all else fails, I would tell them that I know somebody who buys houses. Then, I would refer them to him and his RE investor buddy would buy the subject house and give me my finder's fee. But since I'm working 7 days (8 shifts) to make ends meet, it's kinda hard to juggle everything. So, I thought about sending out postcards but I'm not sure what to write on these postcards that would get me results.
So, that's what my situation is.
Thank u 4 responding.
Talk 2 u soon.
Panos.
Panos,
I believe what your are referring to is becoming a 'scout' for other investors.
You find deals and turn the deals over to other investors for a finders fee. Do not forget the FEE part. So it looks like the position you are in meaning a very hard worker and looking to get ahead in life this would probably be the best way to go right now.
As you gain knowledge in how to find these properties all of a sudden one day you will not have to turn them over to someone else you will do the deal yourself.
Lets see if someone has a post card or letter they have used that will help you find the properties you are looking for.
How about it fellow TCI poster anyone have something to help Panos?
John $Cash$ Locke[ Edited by JohnLocke on Date 09/28/2002 ]
JohnLock:
Ya knewI couldn't resist!
here Goes PANOS-----------
6.
Send five post cards to each person on your list First Post card says:
Dear Mr. and Mrs. Xxxx,
If I can help, please call me. I buy homes for CASH or on TERMS. I even buy ugly, vacant or run-down houses townhouses and condos.
Foreclosure, no equity, upside down (negative equity), creditor or tax lines - No Problem!
My name is Panos.
Please call my private line at your first convenience XXX XXX XXXX.
All calls kept confidential."
(Then)
One week later send a 2nd post card to all the same people!!!
The key to success in Mailings is to:
-Grab the reader's Attention (Post Cards are open letters to everyone who is within eyeshot of 'em)
and
-Keep Mailing Consistently (3 Step is Good and 5-Step in Better Than GOOD)
I personally like to start with postcards to my intended target...
then I graduate to a personal letter(Blank White Envelope and hand-written name & address.(This pulls better than 30% most times)
I started m marketing by mail to over 150 pre-foreclosures in my area from a list I built over 6 weeks.. The results were i spent $1.50 per prospect and signe up 3 deals each one representing a $20K in instant equity($60K return on a $250 investment)!
Hope that this post card can at the least get you some appointments to flex your negotiating skills & experience!
If not, you can just keep coming back here for more marketing tips!
Much Succes!
Derrick Ali
[addsig]
Derrick Ali,
Your are right, I knew you would come through for Panos.
How about adding this one in there.
Fast, Friendly, Confidential Service.
I use this one on my business card for my Bail Bond Company but it works on direct mail post cards to sellers also.
John $Cash$ Locke
Wow! This website and u guys r great.
Thanks John and Derrick.
I'll order the postcards from vistaprint.com
and get to work. I thought that a good quality glossy postcard will be much better that some cheap one I printed out at my house. Mayby the $50 for 250 postcards is worth it (I think ).
Anyways, thanks again for the help guys and I'll c u on Tue. Monday I have to work all day, so, no computer 4 me.
C ya
Panos A