Sara had a great question, that many investors struggle with when they get started. She wrote: I hear a lot of investors spend thousands of dollars in advertising. What are some ways I can find a home if I don’t feel comfortable spending so much in advertising?
Speaker 1: Welcome to the real investing show with Tim heritage each day, we’ll provide real investing for everyday investors. Tim is a nationally recognized real estate investing expert podcast, host and public speaker. He built his businesses from the ground up and is here to help you do the same. Here is your host Tim heritage.
Speaker 2: Welcome back to the real investing show. I’m Tim har. Thank you for coming back to hang out with me today. Sarah writes in, I hear a lot of investors spend thousands of dollars in [00:00:30] advertising. What are some ways I can find a home if I don’t feel comfortable spending so much money in advertising? Sarah, that’s a great question. So the first house I ever bought had a for rent sign, nailed to the tree and my mentor showed me how to call those people, get access to the property, take a look at it and then make a cash offer. Even though I didn’t have cash. Uh, and we turned around and wholesale it. So I think the number one thing people can do these days is really cold call. Now I do advise you to make sure you understand [00:01:00] and fully understand and comply with the, do not call list in any other federal or state or local regulations, not a huge fan of bandit signs, little signs you see around on the corners, mainly because they’re not necessarily permitted.
Speaker 2: I won’t say illegal, but permitted in most municipalities. So anything that you do, I highly recommend you do it the right way and you do it within all the confines of all laws, regulations, and guidelines. It’s goes back to the whole ill gotten gains thing. And that’s just the way I believe. That’s the way I think. Um, so [00:01:30] cold calling, you know, uh, I’ve got a, the boyfriend of my niece, um, gets on Zillow, finds expired listings, calls the people, negotiates with the people and tries to wholesale. The properties completely virtual, no advertising at all. Driving for dollars is still a very viable solution. That just means driving around a neighborhood. You’re looking for overgrown yards, visual disrepair on the exterior of the property. You’re looking for, you know, mail, mail, overflowing the [00:02:00] mailbox, newspapers piled up on the street. You, you you’re looking for frankly, the ugliest home you can find on the block.
Speaker 2: And that home is the one that is most likely going to have a motivated seller attached to it. And now with the advent of the internet, and I say, advent, you know, five years, it’s a lot easier to track people down. You can get online. You, you there’s skip tracing services. There are services like, like batch dialer and batch leads that help you skip, trace and load ’em into a call center and, and, and make the calls. Uh, [00:02:30] these are all ways that, you know, you can, uh, find assets. And I’ll just say this many people spend the money in advertising because that’s the capital. That is the easiest for them to expend. And if you’re listening to this, you have capital. You may have time capital. You may not have, you know, us dollars. You may not have cash, but you have time. Capital and time is very, very value.
Speaker 2: If you think about it, time’s the whole reason I’m doing this recording right now, because I want to help people, but I don’t have the time to [00:03:00] go in and have lunch with everybody every day. So it’s, uh, it’s very interesting. Um, question, you do not have to spend money on advertising, but like I say, either way, you’re gonna pay, you’re either going to pay with the money or you’re gonna pay with your time. So don’t let not having money be an excuse. I got into this business with nothing. I, I had an overdrawn bank account is what I had. And you know, if you are the type of person that needs more of a network, you need more of a guiding [00:03:30] hand, then go take a job for someone in the business, learn from the ground up. That’s what I did. I was a project manager and, uh, here we are 20 years later and it seems to worked out.
Speaker 2: So I think if you wanna be on your own, you’re looking at cold, calling, driving for dollars, kind of gorilla marketing type prospecting. Uh, if you want fast ladder to success, in my opinion, you go work for someone that’s actively doing what it is you want to do, and you commit yourself for a year or two and you learn every piece of the business [00:04:00] and you add value and you make them a ton of money. And then when you’re ready, once you’ve saved up your money, cuz you didn’t change your lifestyle, then you can go out on your own or you never know you could end up being their partner. That’s what happened to me regardless. Sarah, thank you so much for your question. I hope this helped. If not, you know, just, uh, go ahead and submit another one. We’ll get back around to it. Uh, that’s it, uh, until next time I’m Tim heritage. Remember if you have questions hop on over to Ihab lunch, money.com. We’ll see you tomorrow.
Speaker 1: Thank you for hanging out with us today on real investing. If you have questions, comments, or feedback, please [00:04:30] visit Ihab lunch, money.com. Tim. Can’t wait to hear from you. We are always grateful for your reviews. And if you enjoyed this episode, please subscribe and share it with your friends. Remember the business is the vehicle, not the dream. See you. Next time. The proceeding program is provided for general education purposes only and is not constitute legal tax, financial investment or other professional advice. No information contained in this program should be construed as financial investment or legal advice from any individual author of post or guest. You should always consult a financial advisor before investing.