May 12, 2014 in Podcasts
Investing in Inner City Neighborhoods
My guest for today’s podcast is my friend and fellow real estate investor Iman Yusef-Yahya better known as that “Philly Wholesaler Chick”. Iman is a full time real estate investor, mentor and coach in Philadelphia, PA. Like me, she is passionate about teaching others this business. Today’s podcast is all about investing in inner city neighborhoods which happens to be her specialty. After listening to this podcast you will realize just how much opportunity exists in many cities across the nation. She also shared several of the resources she uses in her real estate investing business as well as a quote that I want to share with you:
If you want to change your tomorrows, you've got to take action on it today. Tweet Me!
Here are some of the things we covered in today’s show:
- How Iman first learned about real estate
- The lessons she learned as a result of her first deal (that didn’t close)
- The marketing strategy that helped her close her first deal
- Starting from where you are today; investing with the resources you have
- Her main investing strategy for finding deals today
- How she decided that inner city neighborhoods was where she wanted to invest
- The importance of marketing consistently
- Taking advantage of the plentiful inventory in her city; 50,000 vacant houses in Philly today
- Special funding in “Go Zones”; areas a designated by the Federal Government
- The marketing strategy that is her best source of deals today
- Low cost and no cost marketing strategies if you have a shoestring budget
- Networking and building relationships
- Joint Ventures
- Learning to screen sellers when call to determine if they are motivated
- What to do if you want to get a deal in the next 30 days
- Tips for pulling a list of free and clear houses
The importance of having the correct mindset
- Getting rid of the fear and ditching the excuses
- Setting goals and creating a plan to get where you want to go
- The importance of consistency in growing a successful business
You Can Listen to the Podcast Here
Part01 - Download This Episode
Part02 - Download This Episode
You Can Also Listen and Download from iTunes By ClickingHere.
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Resources mentioned in this podcast:
- SearchTempest.com – This is a free tool that you can use to search to set up automatic searches on Craig’s List.
- Listsource.com – For pulling a list of leads
- Dirtcheapsigns.com – Bandit signs resource
Check Out Iman’s Resources and Her Upcoming Event
- Iman has Facebook group called “Free Real Estate Wholesaling Training for Newbies”. Be sure check out this awesome resource. If you would like to join just send a request.
- Coming soon: “The real estate InvestorsloungeTV.com”. This will be another opportunity to learn from one of the best in the business.
- Finally, if you are in the Philly area she is having a networking event you will be interested in called The “BIG Real Estate Business Networking Event”, June 4th @6PM at the Crown Plaza Hotel Philadelphia West. You have to register to attend. Click Here to do that…
If you are not already subscribed to the “Inner Circle”, be sure to do that today so you don’t miss any of the business building tips I have coming your way. I want this year to be your best year ever! And if you enjoyed this article, please share it.