Our most successful students sit in their desk chairs (just like Lou and I) and “cherry pick” the very best deals from the very best leads that called them. They didn't chase after deals, they don't call agents, they don't call on FSBO signs – they relax, in full control knowing that their phone will ring several times each week with a great deal – worth $10,000 to $25,000 to them.
How do we do it? Better yet, how do our new students do it? It's the secret “M” word that everyone says “oh yeah, I've heard of that”, but rarely do investors do it well. The M word is: Marketing. Marketing. And more Marketing.
There are 3 simple key components to making your phone, or your answering service's phone ring with great deals. Every week.
- Multi-prong approach. Diversify and have lots of small marketing techniques or campaigns going at once. For example, send out direct mail postcards, and do some bandit road signs, and do some doorknob flyers, a few small billboards, some Bankruptcy or pre-foreclosure leads and a newspaper ad. Do at least 2 or more of the above, so that when one technique slows down another is still bringing ‘home the bacon'.
- Have a lead script & formulas, so you can make an ‘rough offer' right overthe phone. You'll need a short script of questions to ask your incoming caller/sellers to figure out the details of their house & life situation. You'll also need some cheat sheet so you can make a quick guestimate of repairs and plug it into a proven formula to generate an approximate or rough offer-right over the phone. If the seller says ‘yes or maybe', then go visit the house to firm it up and get the contract! If she says ‘no', then try to overcome any objections OR move on to the next lead call – no time wasted on your part anymore, chasing bad leads all over town!
- Repeat. Repeat. Repeat. Continue to implement your Step #1 stuff – repeatedly. Do your direct mail, flyers, signs, again and again and again. In the same areas.. Research has shown that it takes the average consumer 5 impressions, or viewing of your marketing before they start to feel as if they know you and trust you. That's when they'll call you with a slam-dunk deal, already pre-disposed to doing business with YOU!
Implement those 3 steps above and we guarantee you you'll have hot leads flowing right into your phone and you can make offers right back over the phone, so that you can cherry pick BIG money makers while you sit at your desk. This is how we bought 400+ houses without running ourselves crazy, and still having time for our family, friends, relaxing, vacations, etc. You can too!
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