The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Tuesday, June 28, 2005

Marching ahead...

I've been listening to Kiyosaki's audio tapes.. Wow! Great stuff. Many years ago, I read his rich dad, poor dad book and honestly didn't get much out of it. I think it was because his common sense principles didn't sink in.

After watching a buddy go through his tapes and almost made a millionion dollars in 3 years , I took his material much more seriously.

My mind is changing on how I look at things. I'll write more about that later.

Anyway, I've been so busy w/ REI that I haven't had a chance to write much. My marketing plan has changed and the goals that I've set is coming into reality.

I've now sent letters to many vacant properties that were gathered by my sign guy and my birddog. I plan to send multiple letters for maximum results.

For preforeclosures, I've got to the point where I've sent three letters to homeowners. Unfortunately, I've had little success. At first, I got two calls when I switched letters so I thought I was on to something, however, I'm less confident now. I need to test the waters for several more months, but I don't think sending letters is an effective marketing method right now. Door knocking is hands down the best, however, finding time is difficult and I can't do it every week.

Overall, I'm still having the same old problem. Not enough calls, to look at enough properties to make offers..

The general rule is to look at 100 properties, make offers on 10, and buy one. For motivated sellers, I would say I would cut the 100 number in half. Right now, I'm getting 20-25 calls off of some marketing. This suggests that I should be picking up a property here pretty soon.

I would like to receive 100 calls per month, but I would have to spend over 1k a month in marketing to obtain those results.

Good investing
|| Bginvestor, 12:16 PM

1 Comments:

Well, I can credit the first Rich Dad with piquing my interest in REI. From there, I read several more books on the subject before I ever got started. I assume your friend probably did the same. I would not say that the Rich Dad books are the "end all, be all" on the topic of REI, but they are a great starting point. When I see a new release from Kiyosaki, I always pick it up and flip through it. I think I've bought 3.
Blogger Trisha#1, at 9:10 AM  

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