The Maestro believes highly in two marketing techniques… bandit signs and direct mail postcards
At least 100 bandit signs a month. And at least one mailing a month, to either absentee owners (landlords), landlords who recently evicted a tenant (evictions list) and/or to code violators. All these lists can be acquired or purchased through a list broker (use Google…) or from the clerk of your county court.
It’s oh-so-important for your properties to stand out from the crowd these days. Why? Cuz it’s a buyer’s market! And, there is tons of competition. Buyers are going to look at the deals that catch their eye. And, there is no better tool in our business for accomplishing this, than www.vflyer.com.
Don’t waste your time with postlets.com any longer. Vflyer.com does what postlets does, plus so much more! In addition, it will allow you to post up to 2 properties… for free! After that, it’s like $10 a month, or something ridiculous like that.
The ONLY way to grow is to expand your comfort zone. There is just no other way. You are not going to be comfortable with everything you need to do to be a successful house-flipper. But, you have to do them anyway. There is no getting around that. If not, you won’t grow… nor will you make nearly as much money as you should.
And, the absolute ONLY way to conquer your fears, is to confront them head on. That’s what The Maestro did when I went zip lining through a Hawaiian rain forest. I am (was) deathly afraid of heights. But, my wife isn’t and when she booked us on a zip lining excursion, I couldn’t back out.
It was one of the best decisions of my life…
Be prosperous, my friend.
The Maestro
P.S. You absolutely, positively, without exception… need to check this out… NOW! Click HERE.
What do most of us do with our buyers? A five minute phone conversation.
If this is you, your business is suffering… trust me. Like the mafia, wholesaling is a face-to-face business. When I was in corporate America, I made it a point to get together with my customers, or potential customers, whenever possible. It could be breakfast, lunch, dinner, drinks or just a plain old meeting in the office. Whatever.
Just do it.
Also, and this is important, in about one month, the greatest real estate investing resource ever created, will be released. Freedom$oft. It was created by some of the brightest minds in the industry, Preston Ely and Any Proper. And, it’s going to revolutionize the business.
Look, I’ve used Freedom$oft personally. And, I give it my personal seal of approval. It’s the real deal. And if you use it and fail to make money in real estate… you’re simply not trying.
Click the word “Freedom$oft” above, watch the video and get your free stuff… $500 worth! Again, The Maestro approves…
Click HERE right now to get on board with Freedom$oft!
It is absolutely imperative that you get into the mind of your buyers… BEFORE… contracting on a property. That means that you need to calculate how much the buyer is into the property for – your selling price plus repairs – and also taxes and insurance. You don’t have to worry about a mortgage payment, because we’re only dealing with cash buyers right now.
In addition, you need to know what your buyer is going to do with the property once he buys it. Here is a hint. If the neighborhood is busted, he’s probably going to rehab and rent. If it’s decent, or even nice, he is probably going to rehab and sell. If he is going to rent, you need to find out what the going rent for that type of property, in that neighborhood, is going for. You can find this stuff on the internet.
Once you have all this info, you can easily calculate cash buy, plus repairs, plus taxes and insurance, minus rent revenue, plus minor repairs or updates throughout the year. Now, you can decide if this is a good buy for HIM (not for you). If it is, contract on it and present it to your buyers. How?
Mr. Buyer, here is the deal, in less than 5 years, you will make all of your money back and own this property free and clear. After that, you can expect to pocket about $12,500 in profit every single year that you continue to own the property.
I received a question the other day, asking me if you can flip houses in a good economy, and what the differences are between flipping houses in a good housing market vs a bad one. And here is my response…
If you start your wholesaling business the right way, you will have to tweak your business very little, as the housing masrket changes. If you do not start your wholesaling business the right way, you will be forced to change as the market changes. Here is how you do it:
1. Locate your city’s active cash buyers.
2. Find out what they want in a property, where and how much they will pay for it.
3. Go find them deals.
What most do is take the market for granted. For example, when the housing market was good, nobody much cared about locating and forging relationships with buyers. It was a given that the property would sell. But, when the market changed, all of a sudden, wholesalers were scrambling for buyers. But, if they would’ve forged those relationships in the beginning, they wouldn’t have to worry about it. And, while everyone else is freaking out, they would still be prosperous.
1. If local wholesalers won’t teach you how to flip houses, hire a national mentor, like The Maestro. I most likely do not know your city as well as my own. However, I know wholesaling. And that doesn’t change much from town to town.
2. And if you have no income and no money in the bank, starting a new business may not be the best thing to do right now. I never want to discourage anyone from chasing their dreams. I did it and it worked out great for me. However, I had a job and money coming in each month. Not a lot, but enough to pay my bills.
Aaron Ward wrote me and asked, “Maestro, how do I get your low offers accepted by sellers?” Great question, Aaron. And I’m glad you asked. There are many tricks and tales you can tell the seller to convince him or her. But, the best way to insure your low offer is accepted, is to only deal with sellers who are in distress. If they truly feel like you are their only option, they will take just about any offer you put in front of them…
Also, get my e-book, Raining CA$H. Comes free with my first e-book, Quick Flips and Fast Cash: A Moron’s Guide to Flipping Houses.
Don’t EVER let the fear of making mistakes keep you from becoming the successful wholesaler you were meant to be! You were meant to do GREAT things! So do them… and don’t worry about making mistakes. Here is a tip: You are going to make mistakes… in business and in life. But that’s how you learn! Make a mistake, learn your lesson, move on and never make that mistake again. That’s how life works…
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