The Maestro is about to drop some knowledge on ya. Look, if I were just starting my new real estate wholesaling business, I'd start off exactly like this. This is important, so take your eyes off of the TV for a second and pay attention.
1. Find Your City's Wholesale Real Estate Buyers
Sounds pretty easy, right? Uh... not so fast, my friend. Look, a lot of things appear easy, but that doesn't mean it will be. If you truly want to know who is buying up real estate in your area, you need to be proactive. They're not exactly going to be kicking your door in. You need to go find them...
Here is what you do first. One, get yourself 100 blank, white, 24 x' bandit signs, with metal stakes. These are available all over the internet. Just Google "blank bandit signs." My recommendation? Contact the company by phone. I buy my signs from Sign Warehouse (signwarehouse.com). And speaking to a sales rep sometimes has perks, like free shipping. My rep, Stephanie Johnston, used to cut my shipping all the time. And these boxes are heavy...
Ok, you're 100 blank bandit signs have arrived. Now, take 30 out, and write this on them:
$.30 on the dollar! must sell now!! (local # from patlive.com)
Heck, if you wanted to put 50 out, that would be just fine. Why $.30 on the dollar? Because that's a really, really good deal... in most parts of the country. Now, if you live in parts of Michigan or Ohio, that may not work for you. But, for just about every other locale in the U.S., it will. And like gold...
Why use a local phone number from patlive.com? Because it's untraceable, and in most American cities, bandit signs are illegal. And, unless you want your city's local code enforcement calling you, you better have an untraceable number. Trust me, they won't be calling to buy your property. They'll be calling to threaten, and possibly issue, fines. But, they can't fine what they can't find. And patlive.com works like a charm.
Ok, so you have your 30 signs out marketing a fictitious property for sale. What do you do next? You wait for the phone to ring. And ring, it will. What, you don't think 30 bandit signs will make your phone ring? It will if you're advertising a deal for $.30 on the dollar. Believe me. Would you call if you saw a sign like that? I sure would. Only a dummy would pass on something that amazing...
Ok, they call, get your voice mail and leave you a message. You call back and say...
"Hello Mr. Buyer. This is Mr. Seller. I just got your message. Believe it or not, one hour after putting those bandit signs out, I received a contract on the property and a deposit. I mean, I was actually fielding calls while I was still putting the signs out! However, as soon as I get another great deal, which should be in the next week, or so, I'll personally call you FIRST... before I send it out to my buyers. How does that sound? Cool. Let me get your contact info, and I'll be in touch. Welcome to my VIP buyers list."
And that's how it's done.
"But Maestro, I've used bandit signs before and they didn't work. I can't believe 30 signs will make my phone ring like that."
Uh, try them again. And, what I just told you to do, didn't just get pulled from the air. It's a tactic I use with my students... and not because it doesn't work. Have faith, grasshopper.
Ok, so you've added some new buyers to your short, but active, buyers list. BTW, all you need is 8 to 10 serious, active, experienced, cash buyers, to make a lot of money in this business. That's it. The rest of the lookie-lou's you put in an email database and blast to when you get a property that your real buyers pass on.... hoping one pulls the trigger. The days of 200 person buyers lists is over... at least for the smart wholesaler.
Now, get on the internet and find your local real estate investment association (REIA). Here in Tampa, we have two, and they are huge. Find the closest one to your house and go to a meeting. I don't think you have to be a member to attend, but you will have to pay. Should be cheap, though. Use the time after the meeting is over to shake hands, exchange business cards and express your interest in finding cash buyers. And, if you desire, join the group and become a member. Again, it's not that expensive.
Success Tip 1
We're in this to make money. Remember that always.
Success Tip 2
Until you have your buyers list, you can use other wholesalers to broker the sale between you and their buyers.
Success Tip 3
When you have your VIP buyers list, YOU can broker the sale of a property... and make some nice cash... for doing almost nothing.
Success Tip 4
Remember success tip 1.
So, now that you have the buyers, what's to come of the other 70, or so, bandit signs?
2. You locate your city's distressed sellers
Well, you've got the buyers, now it's time to bring them some deals. Take those 70 signs and write this on them:
I'll buy your house CASH! (patlive.com number)
Make sure you have either two local numbers, or that you give the caller an option. For example, if the caller is looking to sell their house, press 1. If you are looking to purchase wholesale property, press 2. That kind of thing. If it were me, though, I'd get two different numbers. That's just me...
Remember, placement is important. You want tons of eyes on these signs, but you also want to place them in areas you want to buy. Find places that match those two criteria and stick them in the ground. Make sure they are at places where cars stop. No highway medians.
And while you are fielding leads from those 70 signs, you should be thinking of more ways to find buyer and deals. However, what I just described to you will definitely give your business a kick in the pants right off the bat. It will give you tons of momentum. And momentum is HUGE in wholesaling. If you're lazy... it will become habit. If you're aggressive... that will become habit, also. And, the money you make will become addictive.
Keep the faith... grasshopper.
1. Find Your City's Wholesale Real Estate Buyers
Sounds pretty easy, right? Uh... not so fast, my friend. Look, a lot of things appear easy, but that doesn't mean it will be. If you truly want to know who is buying up real estate in your area, you need to be proactive. They're not exactly going to be kicking your door in. You need to go find them...
Here is what you do first. One, get yourself 100 blank, white, 24 x' bandit signs, with metal stakes. These are available all over the internet. Just Google "blank bandit signs." My recommendation? Contact the company by phone. I buy my signs from Sign Warehouse (signwarehouse.com). And speaking to a sales rep sometimes has perks, like free shipping. My rep, Stephanie Johnston, used to cut my shipping all the time. And these boxes are heavy...
Ok, you're 100 blank bandit signs have arrived. Now, take 30 out, and write this on them:
$.30 on the dollar! must sell now!! (local # from patlive.com)
Heck, if you wanted to put 50 out, that would be just fine. Why $.30 on the dollar? Because that's a really, really good deal... in most parts of the country. Now, if you live in parts of Michigan or Ohio, that may not work for you. But, for just about every other locale in the U.S., it will. And like gold...
Why use a local phone number from patlive.com? Because it's untraceable, and in most American cities, bandit signs are illegal. And, unless you want your city's local code enforcement calling you, you better have an untraceable number. Trust me, they won't be calling to buy your property. They'll be calling to threaten, and possibly issue, fines. But, they can't fine what they can't find. And patlive.com works like a charm.
Ok, so you have your 30 signs out marketing a fictitious property for sale. What do you do next? You wait for the phone to ring. And ring, it will. What, you don't think 30 bandit signs will make your phone ring? It will if you're advertising a deal for $.30 on the dollar. Believe me. Would you call if you saw a sign like that? I sure would. Only a dummy would pass on something that amazing...
Ok, they call, get your voice mail and leave you a message. You call back and say...
"Hello Mr. Buyer. This is Mr. Seller. I just got your message. Believe it or not, one hour after putting those bandit signs out, I received a contract on the property and a deposit. I mean, I was actually fielding calls while I was still putting the signs out! However, as soon as I get another great deal, which should be in the next week, or so, I'll personally call you FIRST... before I send it out to my buyers. How does that sound? Cool. Let me get your contact info, and I'll be in touch. Welcome to my VIP buyers list."
And that's how it's done.
"But Maestro, I've used bandit signs before and they didn't work. I can't believe 30 signs will make my phone ring like that."
Uh, try them again. And, what I just told you to do, didn't just get pulled from the air. It's a tactic I use with my students... and not because it doesn't work. Have faith, grasshopper.
Ok, so you've added some new buyers to your short, but active, buyers list. BTW, all you need is 8 to 10 serious, active, experienced, cash buyers, to make a lot of money in this business. That's it. The rest of the lookie-lou's you put in an email database and blast to when you get a property that your real buyers pass on.... hoping one pulls the trigger. The days of 200 person buyers lists is over... at least for the smart wholesaler.
Now, get on the internet and find your local real estate investment association (REIA). Here in Tampa, we have two, and they are huge. Find the closest one to your house and go to a meeting. I don't think you have to be a member to attend, but you will have to pay. Should be cheap, though. Use the time after the meeting is over to shake hands, exchange business cards and express your interest in finding cash buyers. And, if you desire, join the group and become a member. Again, it's not that expensive.
Success Tip 1
We're in this to make money. Remember that always.
Success Tip 2
Until you have your buyers list, you can use other wholesalers to broker the sale between you and their buyers.
Success Tip 3
When you have your VIP buyers list, YOU can broker the sale of a property... and make some nice cash... for doing almost nothing.
Success Tip 4
Remember success tip 1.
So, now that you have the buyers, what's to come of the other 70, or so, bandit signs?
2. You locate your city's distressed sellers
Well, you've got the buyers, now it's time to bring them some deals. Take those 70 signs and write this on them:
I'll buy your house CASH! (patlive.com number)
Make sure you have either two local numbers, or that you give the caller an option. For example, if the caller is looking to sell their house, press 1. If you are looking to purchase wholesale property, press 2. That kind of thing. If it were me, though, I'd get two different numbers. That's just me...
Remember, placement is important. You want tons of eyes on these signs, but you also want to place them in areas you want to buy. Find places that match those two criteria and stick them in the ground. Make sure they are at places where cars stop. No highway medians.
And while you are fielding leads from those 70 signs, you should be thinking of more ways to find buyer and deals. However, what I just described to you will definitely give your business a kick in the pants right off the bat. It will give you tons of momentum. And momentum is HUGE in wholesaling. If you're lazy... it will become habit. If you're aggressive... that will become habit, also. And, the money you make will become addictive.
Keep the faith... grasshopper.
About the Author:
Andrew Massaro is the country's top wholesale real estate coach to the new investor. For coaching services, visit http://tinyurl.com/ygf97l7. He is also the author of the wildly successful e-book, Quick Flips and Fast Cash real estate investing.
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