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Real Estate Investing – Getting Started

March 9, 2011 By 4 Comments

So, last week I was posed with this question -

“I’m still working full time, – is it possible to get started with real estate investing if I’m bogged down by the J-O-B?”

Which in turn made me take a step back to where I was to go way back in the year 2000…

I’d never done a deal after studying books, and courses for over 2 years.  At the time I looked all of 12 years old even though I was in my 20′s, and I had this perception that no one really took me serious.

I would talk to Realtor after Realtor but never really got anywhere.

Then finally after months of talking and probing around, I finally met an agent that actually gave me the time of day and I bought my first real estate investment – here’s the picture…

Real Estate Investing - My First Deal

Honestly this was the worst deal of my life…

But guess what?

If I’d never taken the plunge and bought this piece of junk, I’d probably never bought a property…

So, I’m thankful I took the plunge.

Fast forward a few months and I increase my education and learn about “buying houses subject to” and flipping houses using assignments and double closings.

And I knew that in order to get these kinds of deals I would have to pursue sellers directly as opposed to going through a realtor.

Realtors have got their guard up for anything that may be out of the ordinary – so if you plan to use creative real estate strategies then you’ll need to market to sellers directly.

Now – I still had planned on buying through Realtors, just thought this would give me more leads and deals and some flexibility on the terms.

(On a side note, I stopped working with the first real estate agent after he asked me to co-sign on a car loan after I’d bought my 3rd house from him – this would have resulted in a disaster if he’d succeeded in talking me into it)

Back to the story,  I started marketing through using newspapers with your traditional “We Buy Houses Cash” and “I’ll Buy Your House In 7 Days Or Less” style ads that was being directed to a pager number.

They would call the pager and leave their name, phone # and I’d call them back during my breaks and at night…

So, picture this…

I was a cell phone business to business rep, so there were times when I had 200 or more cell phones in my trunk, my cell phone for work was constantly going off and the pager was constantly going off.

Oh and to add to it -

I was still in college, recently married, just bought a house with a baby on the way…

And I still did deals.

I did what I had to do.

But now, with technology, and the good ole interwebs – everything has changed.

Now, you don’t have to even talk to people unless you know it’s a deal.

It’s so easy now to automate the entire lead getting process and filtering out dead deals while you monetize your leads.

You can do more with less time and still make money…

So, yes – Real Estate Investing can be done while still working the job and it’s easier now than ever before.

It’s about deciding and making the commitment to doing so, getting the right tools and education.

On a side note, I’m re-releasing my Real Estate Underground System in the next week or so,

Many of you have asked about it – I’ll send you the details real soon…

Talk soon

Derek Pierce

BTW – I’d Love To Hear Your Comments / Questions! Click Here to Comment

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Flipping Real Estate

April 7, 2010 By Leave a Comment

Flipping Real Estate can sometimes get a little tricky when you’re dealing with the unknown.

And when I say get a little tricky – I’m referring to flipping houses via fix and flip type deal.  There’s easier methods for investing in real estate especially if you’re a beginning investor.

So – if you’re a beginner just getting started investing – then don’t try this at home!

Seriously – what I’m about to show you is a real world deal from my own real estate investment business that took a turn for the worst as soon as I bought it.

Here’s what happened…

I bought this house from an elderly lady whose husband had passed and he’d managed their old house as a rental for years.  Now, that he’d passed, she’d become a motivated seller.  So.. she gives yours truly a call and I’m thinking I’m getting a killer deal at less than 50% of the fair market value.

But,that was before all hell broke loose!

After I’d purchased the house- a tree fell on the roof, a contractor almost lost his fingers from a saw cut, a dump truck was stuck in the back yard, and not to mention the raccoon that snuck into the attic to die.  So, I filmed a case study video for you.  Maybe you’ll find this beneficial and a little entertaining at the same time.

Here’s part 2 of this Real Estate Flip-

Again, you don’t have to do deals like this in order to make money investing in real estate – I show you how to do without credit checks, without banks, and with no risk with my Real Estate Investing course.  You can check it out by clicking here

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I’m sorry and a few Real Estate Investor Tips.

April 2, 2010 By Leave a Comment

Yesterday was April Fools day and like anybody else – I love a good prank.

So… I thought how funny it would be to write a post about Obama banning Creative Real Estate Investing.

And in reality – the idea is probably not too far fetched with as many new laws regarding flipping.  Fact is, many real estate investors fear the government and that it will continue to impose new guidelines for us to be able to do business flipping houses and doing creative real estate deals.

And in all reality, most real estate investors are ethical and are looking for honest ways to improve their business.  It’s the one bad apple that ruins the bunch mentality.

Anyway…

Back to my post – I’ve received a mixture of hate mail as well in addition to people saying – that was a good prank.

And the truth is – I want to have fun.

There’s too many other real estate investor sites with guys with suits and ties (no offense – just not my thing) talking about all of these different strategies.

In other words – it’s all business.

And I’m sorry – but that’s not me.  And that’s not you either.

Here’s what I mean…

No one likes to talk business 100% of the time.

Recently, I went to a internet marketing conference and there was a few guys I was hoping to meet and strike up a conversation about business and traffic creation.

I walked a little closer and both guys with drink in hand we’re carrying on conversation, laughing and joking.

As I walked up to the guys, I realized something – they were there to kick back, to hang out.

They didn’t want to talk about Internet Marketing, Real Estate Investing, or anything business.  They wanted to talk about their kids, tell Tiger jokes, talk about a wild night with a woman, and enjoy the moment.

In other words – they’re people just like you and I who like to just kick it.

And my little prank was my way to have a little laugh with you.

If you look at my real estate investing videos,you can see I enjoy a good laugh.

There was no harm intended and no ill will toward anyone.  Just wanted to let the guard down and have a little fun.

There’s a lesson here too-

While I did get a few hate mail letters, most was positive and people thinking it was funny – but the important thing is -

They read my message.

Think about it.

My open rate on that one email nearly doubled from my previous open rates.

Typically, I get around a 17-20% open rate from my emails-  which is pretty good.

(The open rate is how many people actually open the emails I send out which is really easy to track in aweber.)

On this message my open rate after 1 day was 36%

My subject line did all of the talking – “Obama Bans Creative Real Estate“.

People had to open it out of curiosity.

The best open rate I ever had was 61% for an promotion I was doing with my friend Mark Evans DM.

The subject line said – “This guy really pisses me off”

So, keep in mind what you’re writing for your subject lines.  It’s what makes them send the message to the trash or open.

Ok – in wrapping this up -

The moral of the story here is -  My goal for this site is to share with you real world real estate investing tips that you can use and apply to your business and not in a real estate guru type fashion.

I want to be able to carry on a conversation with you, joke around with you, and get to know you more than just a real estate guy giving you info on how to make money.

Next – even though you may ruffle a few feathers in the process, look at it this was – They’re reading your message.  And what can you create that can cause a little stir, a little curiosity that people have to know more.

Remember – people love drama.  That’s why the tabloids sell so much.

And don’t get overly worried about what people may think – you’ll have some hate on you while others think your great.

Have a great weekend.

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House Flipping Tips

December 17, 2009 By 1 Comment

Sometimes, when dealing with contractors I want to pull my hair out.

It’s one aspect of the business that I absolutely hate, but it’s a necesary evil if you’re fixing up and flipping houses.

This past week, I’m talking with a guy named Phil that finishes hardwood floors for my latest rehab and I tell him where the house is.

He responds -”I know where it’s at… I did the roof on that house about 5 years ago.”

We agree to meet the following day to let him give me a quote.

I arrive around 15 minutes early to find a leak dripping in 3 places.

Irony at its best….

I walk outside to cut him off so that he doesn’t see the leak just yet and I said – “Is this the house you put the roof on?” He responds “yes”.

Then, I opened the door and said well take a look at this leak.

(HEHE – I’m thinking I just busted this guy’s bubble).

This guy starts telling me about the hail damage that had been done to the roof and that is why the roof is leaking and that “unfortunately” his warranty is only good for 3 years…

(To sum it up, he was shooting me a line of bull shit for a half assed job done to the roof)

Now, keep in mind, he’s there to give me a quote about refinishing hardwood floors – not a roof.

While, he’s figuring a quote – he starts asking questions about my business.

Then proceeds to say…

“Well, you’ll make $20K -$30K on this house”

Excuse me- did I tell you what I paid for it?

uhh No.

I proceeded to inform him that the one thing that pisses me off about contractors is some are more worried about what I make than doing the job right in a timely fashion.

Sorry – but I’ll not be using Phil.

And there are guys just like Phil in your market.

So here some rules for dealing with contractors when you’re fixing up to flip a house -

Don’t let’em shoot you a line of bs.

Don’t believe everything they say.

Get a second opinion. Ask for referalls at your local investment club, from other investors, from other contractors, and from the home improvement stores.

Ask to see 5 jobs they’ve done in the past year and if you can contact the owners for a reference.

And keep a good list of the contractors that work out.

This list will be a continued work in progress.

Start small.  Use your new contacts for small jobs to see how they do before handing them a big project.

Don’t tell anyone who you’re using or else word will get out and then it’ll be harder to have them work jobs in.

And never, ever reveal what you paid for the house to any contractor or else they try to gouge you.

And lastly, don’t be afraid to let ‘em go.

There’s more to come as time permits…

Derek

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New Real Estate Videos

January 6, 2009 By Leave a Comment

Hey, I just uploaded some new real estate investing training videos that I think you’ll dig

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