Lou Castillo

Not setting enough funds aside for marketing which causes the marketing to stop.

You want to have a lot of leads and your marketing will bring them to you. Drive those leads into a local number even if you are not local to them.

It is a lot of work getting your direct mail pieces out. What happens is that if you are trying to do everything yourself you finally get to a point that you don’t want to do it anymore

The other day I had a call from an investor friend who asked how I determine values in this crazy market.

There are a lot of different strategies out there and if you are looking to create quick cash then the best thing to do is to either wholesale a property or renovate a property. I love wholesaling because it is a quick easy business. You find deals, you flip them to other investors across the country and you can make between $10 and $15,000 on each deal. Many deals will make more than that but count on between $10 and $15,000 for most deals, Quick in Quick out. And you don’t have to purchase the property or do any rehab. You don’t have to do any work. It’s great when you don’t have a lot of time and you don’t want to manage a property.

1. They don’t market to find their deals or more specifically to locate the leads. They run around looking for and chasing these deals. They follow all those standard cheap or free approaches that you hear about: working with real estate agents, calling the ads in the paper, driving around looking for vacant houses, writing down ugly houses in the neighborhood or target area. These tactics just don’t work. It takes up too much time.