Today's reader question was about whether or not to contact probate attorneys to inquire about an estate when you don't have the property address. This particular person had found a listing for a probate case, but there was no address listed. I'm not sure how she came by that information, but I'm just going to run with the question.
Let me start out by saying I have never found probate attorneys to be particularly helpful to investors. They are good at handling estates, however they really don't understand our business. They almost always advise those folks Read the rest of this entry →
It’s not very often that I have a new investing strategy to dive into, but today we’re going to talk about one that was new to me until just recently and that is container homes. My guest is my friend Stevie Bear of Make it Modular.
Stevie comes from a real estate family that goes back 3 generations. She is a real estate investor, a Realtor/Broker, the owner of Make it Modular, and a partner in a funding company. Just for fun, Stevie has a 5th business called the Bear’s Lair which is a free space for artists to perform (and keep all the proceeds).
Today you are going to learn all about container homes, and why some people are interested in this type of home ownership. Austin is a trendy community so it’s a perfect place for Stevie's business. Read the rest of this entry →
Today podcast is on one of my favorite topics which is marketing, and we will have some tips for marketing your real estate investing business.
I’m happy to have Kathy Kennebrook back on the show for a second time, and we will be talking about what’s working today. You can bet direct mail marketing will be part of that conversation.
Why Direct Mail?
Direct mail is still the #1 source of leads for both of us. That is something that hasn’t changed over the years. No matter what type of market we are in, direct mail is the best lead generator of all.
However if you’ve going to be successful with direct mail, you need to be consistent. You need a system that is implemented month after month. 81% of your deals will come at or beyond the 5th mailing. Read the rest of this entry →
Today I want to talk about how to handle calls from angry sellers.
We've all had it happen.
You've spent a lot of time and money on sending out direct mail campaigns. First you had to decide on the mail piece. Next you planned out your campaigns for the next 4-6 months. Finally that part is done and the mail has gone out. Maybe you did it yourself or outsourced it to a direct mail company, but either way it's done.
Now you're just waiting for the phone to ring. And…it does. But it's not what you expected.
What you get is a call from an angry seller.
Well that was a surprise! For the record, getting a call from angry sellers is more likely to happen with probates, but it can happen from any one of your mailings. A cranky homeowner gets upset because you mailed them.
In the second part of this 2 part series on direct mail statistics, I want to talk about split testing. As you know, split testing is when you test one (or more) things against another thing. In this case we are talking about split testing different direct mail pieces.
For example: Let's say that you have a list of 900 names on an out of state absentee owner list, and you have been using a yellow text postcard as your mail piece. Even though you have been mailing consistently, you just don't feel like you're getting the results you should be getting.
Once you have determined that your list is good, the next logical thing to look at is your mail piece.
Here is a fact: different direct mail pieces work better in some areas than others. Different mail pieces also work better for certain groups of motivated sellers.