One New Thing a Week

Posted On 6:33 AM by Scott Costello |

I would rate my last week of REI as Dull! I didn't get any calls and I didn't really accomplish anything new that would get me closer to my first deal. One thing I've been trying to do since the new year is every week do something I haven't done before that will help me gain in my investment career.

Posting the contest about winning the Steve Cook course was an attempt at that. I'm surprised I haven't had more responses, I'm sure they will come as the deadline approaches. Just in case any one missed my post last Friday about the contest, read this post..

Steve Cook's Wholesaling for Quick Cash 2.0 Giveaway

Remember the deadline is Thursday Feb, 19th.


What I did do

I'm still working on my webpage trying to figure out how to link it to a database so I can have a login page to allow people access to the foreclosure listings. I've pretty much got it figured out I just have to now make it look nice as well as figure out the best way to get the listings into the database.

Mailings

I mailed out 29 foreclosure postcards. All of these leads were gotten from the public records. It's pretty easy to get them and if you do it once a day it's quick and painless. Eventually as my time fills up and I start getting deals I'll hire that job out to someone else.

What I do need to do now is come up with a letter to send out as a second mailing. I have a few example letters that I'll mesh together and come up with something. I'll post it when I figure it all out.

Open Houses

I went to 4 more open houses this weekend, bringing my total to 71. I can't believe I've been to 71 open houses. At this point I wouldn't say I have a great idea of what a house is worth, but I do know if I walk into if it is over priced.
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6 Response to 'One New Thing a Week'
  1. Taylor
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234419780000#c4560302058443784571'> February 11, 2009 at 10:23 PM

    Scott, Bro- you need to send more mailers. 29 ain't going to cut it.

    Try calling FSBO's. I love probate for getting the mail out. No matter the economy, people still pass on to the other side & families need to sell.

    Divorce? BK? Absentee/landlords (check with title company for this list.)

    Also, make sure to set up an account on click2mail.com and upload your mailer and your list. They'll do the rest. Easy & cheap as mailing it yourself.

    Keep trying!

    Also, try doorknocking foreclosures. You'll see your responses increase 2x.

    -Taylor
    (as an indication, I've sent out nearly 2200 pieces so far this month. Shoot for 400 pieces a month minimum. Also, mail repeatedly to the FC's)

     

  2. Scott Costello
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234448340000#c3552084848308452164'> February 12, 2009 at 6:19 AM

    Taylor,

    Thanks for the push. It's a work in progress right now. I know I need to market to more people, I've just got to get those lists, which costs money and/or time. Right now I'm trying to limit my costs and use my free time to accumulate those lists.

    I'm seriously researching probates right now as I agree with your assessment of them.

    My mailer numbers are poultry that is for sure, but I can't help that there aren't a lot of Lis Pendens filed in my county on a weekly basis. I could expand my region but I want to focus on one area only.

    I will be remailing those past leads very shortly. Would you recommend resending the postcards or doing a yellow letter type thing for the second mailings?

    Oh and I have been using Click2mail for my postcards, it's very easy.

     

  3. Anonymous
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234459260000#c781262087472301135'> February 12, 2009 at 9:21 AM

    let me know if you need help with importing data into the db. I am a computer programmer and aspiring RE investor.

    If interested reply on this blog and I will contact you through your web page.

    -Chris

     

  4. Scott Costello
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234465260000#c478773506960142615'> February 12, 2009 at 11:01 AM

    Thanks Chris! I too am a computer programmer, so it's just a matter of figuring out the tools that they give me. If I could connect to their MySQL with Visual studios it would be a snap.

    I found that they allow for a CSV Import file so I used that. I've actually got it working pretty good now and will shortly post a link for people to test it out.

    Thanks again!

     

  5. ScottB
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234499880000#c2855194156112794076'> February 12, 2009 at 8:38 PM

    Are you doing anything with REO's yet? seems to be stephs bread and butter. I'm trying to really build my buyers list. I've been looking for all the ideas I can to build it. Good Luck

     

  6. Scott Costello
    http://sjcostello.blogspot.com/2009/02/one-new-thing-week.html?showComment=1234537620000#c8246316221075229527'> February 13, 2009 at 7:07 AM

    I've looked into them, but unlike where tampasteph lives I just don't see the volume of REOs in my market. I'm having trouble finding enough Foreclosures as is. REOs will definitely be part of my game but a small one.