I have been investing in real estate for a long time now; two decades to be exact. However, it was almost a decade before I started wholesaling houses. It took me a while to wrap my brain around the concept of wholesaling. The process can be somewhat bewildering if you are new at real estate investing, so I hope this article will simplify the process for you. Wholesaling is just one of the many strategies that you can use to buy and sell property. It is by far the quickest way to make some fast cash.
If you need some help talking to sellers when you get them on the phone, I have a free resource for you at the end of this article. Grab my Property Information Form and you'll never dread talking to sellers again.
I have been trying to figure this out for some time now. Whether you are in real estate or any other business for that matter, it’s pretty easy to figure out if you’re doing a good job. When you have happy clients and repeat business that’s a pretty good indicator that you have satisfied the folks you are working with. And honestly, most of them will be happy to give you a testimonial if you ask.
I Hear this All the Time
Investors tell me, “I have been intending to ask for testimonials for quite some time. Each time when I forget, I say I will do it next time”. We all understand the importance of having these words of praise on your website. So what exactly is the problem?
I honestly think it's two things.
First of all, people just forget. They go to the closing, get their check and about halfway home they remember they forgot to ask for a testimonial.
Getting an Unexpected Testimonial
I got a surprise in my email the other day. I had been working with an estate attorney that was new to me. His client, who was my seller, was an absentee owner of a property he inherited. That is definitely one of my favorite types of motivated sellers; absentee owners that have inherited an unwanted property.
When I opened my email this is what I saw:
“It’s a pleasure to work with such a knowledgeable and pleasant investment buyer. Hands down the easiest estate sale I’ve handled in a very long time.”
It's great not even having to ask for testimonials.
How Did this Deal Go?
I intended to wholesale the property, and I found my buyer within a couple of days. That in itself was quite a surprise. This house was structurally damaged and I really thought I would have a hard time selling it. But I will save that story for another time.
We worked through a number of issues and got the closing done quickly and smoothly. He told me many times how much he enjoyed working with me, and how easy the whole process had been. I half jokingly said to him, “That’s great. That would make a great testimonial if you feel that is something you would feel comfortable doing.” A few days after the closing I received his testimonial. In this case I didn't have ask, but you will be surprised at the “yes'es” you get just by asking.
In today's podcast, I have some tips for generating motivated seller leads. Who doesn't need more leads?
In this show, I go over 25 tried and true ways to get your phone ringing. Consistent marketing is not only the key to your success, but it’s also necessary for the survival of your real estate business.
This is what I know for sure; if you don’t have a steady stream of leads coming in the door you will be out of business in no time.
There are both free and paid marketing strategies. I firmly believe everyone should have both types in their toolbox.
Finding and using tools in your business, is a great way to streamline things. There are hundreds of uses for “If This Then That”, but today I wanted to give you a quick lesson on using “If This Then That” for scraping Craig's list.
What do I mean by that?
One way to find discounted properties is by looking for them on Craig's List. However, that takes a lot of time out of your day. Before you know it, you have spent an hour or two cruising around the site. With “If This Then That” (AKA IFTTT), you set up what you want to search for and let the app do it for you.
Get Your Free List of 25 Ways to Generate Motivated Seller Leads Below
Today I have a short podcast for you that has some tips for talking to a motivated seller. In just about 15 minutes you'll see just how easy it is to get comfortable talking to a sellers once you actually do it a few times.
It's all about practice.
When is the best time to practice? Before you find a killer deal. Get in the habit of picking up your phone whenever it rings and in no time at all, you won't mind the process at all.
You will also see a link below to a Google+ hangout I did with my friend Kelly Payne a while back where we did some role playing.
Here’s a question I get all the time; how often should I send out my direct mail?
Most people that have followed me for any length of time know that I am a “mail monthly” person. With few exceptions (like mailing to probate attorneys), this is always the rule for me. And over time, it has proven year after year to be the right answer.
I learned a long time ago that I would only get great results if I would send out my direct mail consistently every month.