Tonight’s webinar at 7 PM MST called Marketing To Buy, Sell, Rent, Rent To Own and Private Money will cover:
- Marketing to buy houses including low and no cost methods as well as highly effective direct response methods used by professional real estate investors.
- Marketing to sell houses quickly even in our current market.
- Marketing to occupy houses on a rent to own where you are agreeing to rent the property to your buyer while they are qualifying for their loan.
- Strategies for raise private money for your deals.
I expect the webinar to be between 30 minutes and 60 minutes with lots of references to existing checklists and systems you can access as a Real Estate Investor Bronze Member who can use the checklists and systems we have on the Real Estate Investor Wiki.
I will walk you through the Daily Marketing Checklist which includes the marketing systems for buying, selling and renting and raising private money and also point out great audio training materials that cover those specific areas.
At the end of the webinar, I will open up the lines for any investors that have questions about this or any other investing related topic.
This is a free webinar for Real Estate Investor Bronze Members and while I do intend to record it and place it online on the Real Estate Investor Wiki I do need to warn you that last week the webinar did NOT record due to technical issues so it is always a best practice to try to be on the call live in case we have another technical error.
To register for the webinar, just select the Marketing To Buy, Sell, Rent, Rent To Own and Private Money link from the Upcoming Live Webinars section on the homepage of the Real Estate Investor Wiki. On the page for Marketing To Buy, Sell, Rent, Rent To Own and Private Money is a link to register.
You can also register for the other webinars we have scheduled for this month on the Real Estate Investor Calendar in a similar manner. Right now, we have three other scheduled webinars: next week we have a free Private Money Webinar, followed by webinars on Working With Sellers and finally Working With Buyers.
I hope to see you on the webinars.
Until my next post,
James
My mentors, including Brent Grove founder of 1-800-WeBuyHomes and 1-800-WeBuyHouses, taught me that I want to be on the right side of the desk. I want people calling me that are already pre-sold on doing business with me. I do not want to take calls from people that are just fishing for more information as it will just waste my time. You want systems in place that automatically pre-screen sellers so that only ones that are motivated and want to do business with you actually talk to you live.
To do that, we do not take incoming calls live until after they have pre-screened themselves by reading or hearing our full marketing message. We accomplish this by using tools like our 24-hour recorded information hotline. The 24-hour recorded information hotline will allow someone who has seen our marketing to call in and get more information without having to talk to someone live. On our phone system they call in and the system asks them to enter the extension they found with the number. We can then use these extensions to track which advertising they actually called in on, so that we know which advertising is working and which is not. Once they enter the extension, they hear a five minute message that tells them who we are, that we buy houses as investments and the benefits to them of having us buy their house versus their other options. If after listening to the message they want to talk to us live, they can press zero on their phone and be transferred to us so that we can talk to them live or they can go directly to our live answering service if I do not want to take the calls at that time or if I’m unavailable.
A large percentage of people that call your 24-hour recorded message will not transfer through to talk to you live. If you want, you can look at the caller id log of the people that called for more information and try to follow up with these people. I do not recommend it and do not do it myself, because you are looking for motivated sellers, and if they were motivated, they probably would have transferred through. If they do not transfer through, they’re pre-screening themselves out.
Until my next post,
James
P.S. If you want to hear what calls with motivated sellers sound like then why not download the Real Estate Investor Daily Training Volume #1 audio program where I am training my new staff member on how to handle these calls. The audio program is normally $25 plus S&H plus it is free for a limited time to my blog readers.
On this website we often discuss a variety of methods to find sellers and specifically marketing methods to buy properties with owner financing or by agreeing to make payments while leaving the existing financing in place. But you will not need to use ALL the methods we discuss.
In my real estate investing business, I use three or four and have more motivated sellers than I need calling me which I have handled by our Acquisition Manager. I will be going over which of the methods I would use if I were just starting out again in a future post. I will also discuss the one method I would use if I could only use one and why. I would recommend that you implement one or two methods we discuss to start to get your phone ringing with motivated sellers calling. If you find yourself in a hot market where it is harder to get motivated sellers calling because they could sell their house themselves quickly, then add another one or two methods to find more leads. If you still need more leads after that, add another one or two more methods. I would not go out and implement all 14 methods from day one. Part of the process of implementing these methods for getting motivated sellers calling is to test how effective each one is. This requires tracking how much you spend and how much time you put into implementing each method in keeping track of how many calls you get from that investment of time and money. There are three components to all advertising – the message, the media and the market.
The message is the words that you use in your ads. The media is the type of advertising you do. For example, post card mailings, newspaper ads, and television spots – these are all examples of different media. The market is the group of people that you want to reach. They are the people you are trying to get your message to via the media. For example, it is the list of people that you do your postcard mailing to.
If you find a particular method we are about to discuss is not working as effectively as you would like, you may want to try changing the advertising message and testing again. By changing the message and using the same media and same market, you could increase your response to get two or three times as many calls. For example, changing your message from “We Buy Houses” to “Sell Your House in Nine Days” might double your incoming calls from the same classified ad in the same newspaper. I cannot tell you definitely here whether “We Buy Houses” or “Sell Your House in Nine Days” or something else will be the best marketing message for you as your market is different from mine. To find out which is best for you, you need to test different marketing messages and find which one performs best for you in your market and with the media you pick from these we are about to discuss.
Until my next post,
James
We use the Voice Blast To Buyers List Checklist when we are sending out a voice broadcast to our buyers list or wholesale real estate investor buyers list.
We usually have our property posted to our selling website and it is especially important when doing voice broadcast that you have an easy to speak and understand web address for them to get more info about the property. Asking your buyers list and wholesale buyers list to go to a very long, hard to spell or hard to understand website address will significantly decrease your response rate.
I typically will record two different messages: one for live answers and one for answering machines. The answering machine message will usually be what I would leave if I was leaving a message and does not sound like a voice broadcast message. The live answer one sounds like it is a voice broadcast message.
Be sure to remove folks that ask to be removed from your buyers list. Failing to do so is a violation of law.
Until my next post,
James
P.S. We have several audio courses on using voice broadcast. Check out Get The Message Out: We Buy Houses (Voice Broadcast) and Buying Houses with Voice Broadcast for additional information.
The Marketing to Buy checklist is our primarily checklist for getting out marketing to get motivated sellers calling us. Although, we do also have some active marketing methods like calling real estate agents and calling For Sale By Owner properties on it for those real estate investors that are utilizing those methods for finding deals.
You will see the Marketing to Buy checklist actually is broken down into three sections:
- Preferred Marketing Methods – These are the ones that I use most of the time and strongly recommend as effective for finding great real estate deals.
- Lazy Methods – These are some additional methods for finding deals where you are willing to spend some money on marketing to get deals to come to you. As opposed to…
- Poor Methods – These are additional methods for finding deals where you are trying to invest your time instead of money to find deals. These methods typically require more active work to find the deals.
The concept of lazy versus poor marketing is discussed in detail in the Real Estate Investor Wiki and on many of our real estate investing courses.
Until my next post,
James
As real estate investors, we need to hold our marketing accountable to results. For every dollar we spend, we need to get a multiple of that dollar back in profit whether its immediate profit, improved cash flow or back end profit.
Many investors choose to invest time in their marketing efforts instead of investing dollars. They are willing to put in the effort of working to find deals instead of paying to have deals come to them. Both methods work, but it is much hard to ramp up your business by constantly trying to manually find deals.
Consider this: if you takes you 60 hours of looking through deals in the MLS, For Sale By Owner and properties for rent to find one good deal, how many of those deals could you find per week? Most people would say about one–especially when you consider there are definitely other things to do in your real estate investing business.
On the other hand, if you spend $1,000 on marketing and 8 hours sifting through the people bringing properties to you to find a deal, you can, as profits increase in your business, do several of those each week. You can leverage how you find deals and make your marketing dollar give you a return.
Is it profitable to spend $1,000 in marketing to make $10,000 to $30,000 on a property? Yes. Just start small, keep accurate result data and make sure you are spending your marketing dollars in an effective way.
Until my next post,
James
P.S. Want to learn the most cost effective low cost and free ways to market for your real estate investing business? Check out our Real Estate Investor Bronze Membership now.
