by Alex on April 30, 2009
How do you handle your incoming motivated seller leads? The answer to this question will give you a good idea of where you are in the
development of your business.
Please don’t tell me you have all of your leads go to your cell phone. That is the worst possible thing that you can do! I used to do that myself
and when I was working back in my JOB that was very difficult to maneuver. Especially if you are spending a lot of money on marketing you don’t want to waste a single dime! You try to get every call that comes in.
Since most of my marketing is done through direct mail I use a pre recorded message line. I will tell you that it has given my life back. When you get 500 calls at a time like I do, you will know what I am talking about. I can actually sit down to dinner without worry about missing a call. The cool part is that the voicemail is emailed to me as well!
When you really want to take your business to the next level you can hire a VA to screen your prerecorded messages so that you only talk to the most motivated and actual deals. I recently did this and it has helped a ton!
My recommendation is to keep having the calls go to the prerecorded message line and keep talking to the sellers to gain experience but as soon as you are ready–outsource it!
Any suggestions or comments? Let me know what you think?
by Alex on April 28, 2009
Just wanted to drop a quick note on how the business of a wholesaler works. There is one key word here…VOLUME…
The reason I decided to write this is because I just got off the phone with a seller on a deal that I am working on in a virtual market. Drop me a comment if you want to know more about what Virtual Investing is.
The short story is that I have a buyer who is ready to go at 45K. I offered the seller 30K because it is in need of some serious work. I just got off the phone with him and he said he would take 35K. Do I do the deal? There is another factor here though. I have 2 other partners on this one. One partner is somebody that I have teamed up with on some marketing costs and the other partner is the investor that is bringing in the buyer.
So basically 10K split 3 ways is 3300.oo or so. I thought to myself “Should I go back to the seller and hit him for 32K or go back to the investor that is bringing the buyer to take less of the deal?”
The answer is that I should just take the deal and take my 3300 so that I can build my relationships with the investor who brought the buyer so I continue to do future business. One thing that is very important in this business is to build relationships! They will keep you in business.
So anyway that deal for 3300 with another deal for 10K and another deal for 10K is what 23,300? This is the wholesaler’s deal machine. The little deals keep you in business to get to the bigger checks. You know I have not had a 20,000 deal in a while and it starting to get on my nerves. I will keep you posted though 
Keep on Keepin On
by Alex on April 20, 2009
Last post I talked about the importance of following up with your existing leads and how it can impact your business. This post I want to show you the proof of following up with your leads. Keep in mind, this one deal in particular I have been working on since November of last year! Most people would have gotten frustrated and given up all togther. If this had been your deal and you had given up, you would have missed out on this nice check!
In case you are having difficulty reading the amount, the amount of that check is $8,000.00! That is cash money in the bank that can be spent to pay bills, living expenses, and even some fun money!
What am I going to do with the money? I am actually going to to take a portion of it to put right back into the business. I am going to invest it into more direct mail! You see you have to treat wholesaling as a business and once you understand this it will take you to the next level in your real estate investing careeer.
Where you really want to get in your business is to the point where you can get your follow up system working so well that you can count on it for at least one deal per month. That is a deal that you really don’t have to spend any extra money in marketing to get. If you can get one deal from follow up and one deal from new marketing efforts, now you have 2 deals a month! If you are asking yourself how do to get more deals each month, this is the way to do it!
Remember I said you can get one deal from follow up and one deal from new marketing efforts? Here is the check from new marketing efforts.
So that check is for $10,000. That makes a total of 18,000.00 for the month. Not bad! Actually I am a little disappointed since I had that 50K month in December and I am still trying to get back there. I am always trying to improve as should you be!
Let me know if you need anything!
