How did you start investing in real estate? Have you read a book about this? Was it a seminar? A kind of meeting with stakeholders information on real estate investment , but really sell courses? Have you been really, really energized and stimulated by these simple ("not easy") concepts that have been delivered to you as a parable from the stage by a charismatic speaker?
Did you find yourself levitating in the back of the room, powerless to snap your plastic to buy the kits sold there? For example, "Yes, Mr. Ker, we take traveler&39;s checks, yes, cash is fine too." HEY BARNEY DO YOU HAVE A CHANGE FOR A CENT? "Your kit, Mr. Ker, good luck!"
I must admit that this is where I started. I attended a "conference" and dropped a big one in two days. I ended up with a very fun course on Paper (ie discounted mortgage loans) and a darker account of manufacturing a million five in ten months of business. purchase and rehabilitation of several units.
I listened to tapes for about four days in a row, then I bought a HP12C financial calculator. I loved the paper (the units can wait a bit). I really had my head around that. I liked to save on the calculator, I liked to calculate the returns. And the guy on these tapes was so funny!
I spent two fun weeks learning courses and I knew more than most bankers because the guy on the tapes told me. I wanted to start and have a bare-closing notes workshop just as he described it. I knew this stuff inside and out.
Two offers a week would suit me, you know, I&39;m not greedy. Now, where was he in the book that he showed how to find the offers. OK … let&39;s go … Look for names at the courthouse, call the accountants, call the contractors, call the lawyers … hmmm.
In summary, I interviewed five hundred names in the courthouse and sent them letters; I spent about five hundred phone calls to accountants and lawyers (setting up my "network") and then found a ticket holder who was interested in selling. I made an offer, he said "no", I went home and I went to bed for two weeks … too depressed to work.
All this work, and this guy just said "no".
This was my introduction to the wonderful world of real estate investing. From there, I went into low-income apartments and completely fled to the hunt!
Five years later, after buying and returning about 50 units, newly penniless, I discovered this thing called creative real estate. Control without ownership, solve people&39;s problems, use your brain to buy property – not your money.
I liked it a lot, considering my odyssey (expensive and painful) for the landowners, but it still seemed wonderful. information on real estate investment I was still in the same position as when I started.
The same position I stayed, until I woke up, and the same position with which most real estate investors struggle year after year because they do not know the situation better.
That is to say: "I know all this real estate investment information. I know 100 creative ways to buy a property. But I must suffer results such as dull advertising results, impromptu calls, conversations with hundreds of people. uninterested people and dead ends, even before having the chance to talk to someone who is half-motivated to sell.
It is a crossroads. The proverbial "brick wall" for most of us.
And that raises an important point. Perhaps the most important point to really "arrive" here. Finding motivated sellers is far more important than knowing 100 ways to buy a house. You see, your business (and therefore your life) is going to be frustrating, stressful and unsatisfactory unless you find a way to create a steady stream of motivated salespeople calling you every day.
Now, it&39;s obvious, is not it?
This can not be so obvious because few people actually do it. You see, what I&39;m trying to point out here is a mental change that needs to happen in your mind, a paradigm shift if you want, before you make a lot of money as an entrepreneur In the real estate.
And what is this change? That is: instead of being a real estate entrepreneur, you have to become a marketer of your entrepreneurial real estate business. That&39;s what it boils down to.
If you are in business, you have to change the way you think. Because no company will prosper or succeed without a lot of customers.
This change of mentality, of orientation, about who you are, focuses on the most important and profitable aspect of the business: marketing. The money is used for marketing the business and not for the business. It may take some time before you really absorb this. You may have to think about it for a moment before it really sinks. Read it again. Take a minute.
Once you change your thinking and you first agree to be a marketer and then a real estate entrepreneur, you can finally start making the kind of money you really want to earn.
Accepting your role as a marketing specialist is what will get you out of the rut of occasional mediocre deals and achieve a level of sustained success that you would not otherwise be able to (although that&39;s not what&39;s taught in real estate investment information).
And this is true of anyone in another company or industry. The person or company who best controls his marketing, earns all his money and dominates his market.
Look Domino&39;s. A marketing machine! Very average pizza. But aggressive traders, and they practically own their market.
Look Bill Gates (yes, I know, everyone quotes BG). If you&39;ve seen Accidental Empires, a PBS documentary by Robert Cringley, though, you know that Gates is just one of the hundreds of fanatical "techies" trying to make this computer work. Thanks to its clever positioning and ceaseless marketing, it has propelled Microsoft above IBM to reach the current $ 243 billion business figure.
Of course, this does not just mean that you sell better and that you leave your skills in buying, trading and selling to the pot. You must be the best buyer of goods and manage your office.
After all, your sellers and buyers deserve the best treatment from you. But more importantly, doing what you do so well that people can not stop talking about you to other people is the most pure type of marketing in itself.
Do not forget that you are so good that you have no motivated salesperson to talk to.
Buying homes from motivated sellers with little to no money out of pocket is the name of the game, and marketing is what attracts motivated sellers.
OK, so, marketing. Really fabulous! But what does that mean? So far, it&39;s just a word I said 10 or 20 times, right?
Well, there are two types of marketing generally used by people.
The traditional approach that, for lack of a better solution, usually consists of going out after randomly chosen vendors. They were neither selected nor qualified. We just know that they have a house for sale. We send big phone bills and classified ads to talk to them. By communicating with them, we usually talk to them about our funding and financing. If they just sell us, their "problems" will go away. We do it manually. call by call, door by door. We talk about us rather than educating ourselves about them. We hunt, they run. When we stop, the marketing stops. The cost per transaction is very high, both financially and emotionally.
The second approach is the targeted, inexpensive, systematized and response-oriented approach that, through various media (direct mail, lead-up classifieds, posters, billboards, radio, cable television) the seller, requests a response from them and positions you as "the solution" for the sellers who wish it. Sellers advance and select you. Marketing is automated and it&39;s an operating system that works whether you&39;re there or not.
I do not want to shock you, but we do not have the first choice here.
Get just about any book or course containing information about real estate investments or creative real estate. If so, you&39;ll discover the number one choice when it comes to finding motivated sellers.
What you will not find anywhere in these books, courses or information related to real estate investing is the 2 approach, which is direct response marketing.
Direct response marketing targets a specific group of the most desired prospects that you have defined as being most likely to respond to your offer (for example, out-of-state owners or expired ads) and then broadcasts a message only to the addressees. people through a medium (eg, first-class, hand-addressed, personal appearance 10 envelope) that will reach them and draw their attention. Once in front of the target, the direct response provides the following:
– A telegraphic-profit title
– A real marketing message
– An offer or offers
– A reason to react immediately
– Instructions and precise response mechanisms.
With these five elements in place, you are preparing to be called only by motivated sellers, partially pre-sold, day after day! So now you can be free to do what is most productive for you as an investor: make offers to motivated sellers!
I hope you will see the picture here. Direct response marketing reduces your advertising spend by half. He selects, sorts and filters your prospects so that only the most qualified and motivated answer and manage to talk to you. In short, it allows you to do more while working less, with more predictability, consistency and control than anything you could do to find offers.
Is this something you want? Think about it. Do you know someone who buys and sells a boat full of homes every month?
They always do a ton of work. Now, why is it? They do not offer anything more exceptional to the sellers than you, is not it? They are not aware of any information on real estate investment that you are not. They certainly do not offer anything more creative than you are able to offer sellers. They have no better way of calling than you.
Not at all. The only thing that high performing real estate entrepreneurs do better than anyone is: Create a reliable and consistent stream of motivated sellers calling every day! That&39;s it! That&39;s the difference.
So did you receive the message here? J & 39; hope.
If you want to evolve your real estate investment experience from anxiety, frustration and disappointment to the need to work less and earn more, you will make the change.