If someone put a gun to my head and told me that I had 30 days to do a deal or I would die, I would spend the next month door knocking. This is the quickest, cheapest and easiest way to find deals. It is also the method investors use least. Before I tell you how to properly door knock, let me dispel any fears you may have.
In all the times I have been door knocking, I have never had a gun pulled on me, been screamed at, or been threatened in any manner. The worst thing that has ever happened to me was that people were rude to me. They told me to leave, or not come by again and that's it. So right now, get rid of any notion that something bad may happen. Actually, because of the method I use when knocking on doors, the opposite happens. Most people are very friendly. People love to talk and will tell you all types of information about their neighbors such as who has a house to sell, who's going through a divorce and who is facing foreclosure. Many times the problem becomes spending too much time at one house and having the person talk your ear off.
Here is How to Properly Door Knock:
- Pick your target market. Make sure you are knocking on bread and butter houses, typically 3 bedrooms and 2 baths.
- Dress business casual. Do not overdress and look like some slick salesperson.
- Go knocking during the week between the hours of 5-7pm.
- If you are a male, try and take a female with you. People are less intimidated by women than men. If a man shows up at the door they immediately put up their guard. If a woman is with you, however, they are more relaxed and friendly.
- Knock on the door and then take a step back, so that you are not crowding the person when they answer the door.
- Say this magic phrase, every time “Hi, we are looking to buy some houses in this area and are wondering if you know of anybody in your neighborhood that was looking to sell their house”
- Use good judgment when people invite you into the house. If you feel uncomfortable at all, don't go in the house.
- Be consistent. Make sure that you speak to at least 15 people every time that you set out door knocking. You will most likely have to knock on between 30-50 doors. Do not go home until you have hit the 15 people mark.
- Don't get offended if people are rude to you. Never argue, just leave. Kill them with kindness and always be polite.
- Be prepared for when people invite you in, or want to sell the house. Carry a notepad and a pen with you and that's it. I prefer carrying a yellow legal pad.
I know that most of you are going to read this and do nothing. Ninety-nine percent of investors do not go door knocking and that is why there is so little competition for deals.
Most people are not willing to do the hard work that it takes to become successful in this business.
Since people feel more comfortable in pairs, I recommend finding a door knocking partner. At one of your local real estate investor monthly meetings start networking and find a partner with whom to go knocking. There are plenty of people who are afraid to go alone and would love to have a partner.
If you have not done your first deal, or if you have not closed a deal in a while, then go door knocking consistently and get a deal in the next 30 days.