“Bucket Filler” Wholesaling
Hey Team! I know, I’ve been slacking on the posts. Feel pretty disconnected from the blogosphere lately. Been working on some deals and really in the trenches with things. Anyways, I need to share something that inspired me and have to share. I was reading a book the other night to my daughter called “Have you filled my bucket today?” The idea is that everyone has an imaginary bucket that is with them at all times. And your bucket only has one purpose…To hold all of your good feelings and thoughts about yourself. You feel on top of the world when your bucket is full and miserable if your bucket is empty.
So…how do you fill your bucket? How can you have more of what you really want in life? More joy,
Bucket Filler
happiness, peace, money, deals? You give of yourself from your own bucket to others. You show some selfless act of kindness, tell someone you love them, or simply help people by going out of your way to fill a need. All day, you have little chances of filling other peoples buckets and then your bucket will overflow. Ideas to really do this can range from giving someone a smile, holding a door open for someone and telling them have a great day, to showing your family how much you love them. Kinda mushy huh? LOL I am getting this all from a kids book! hahaha
Then there is the “Bucket Dippers” in life. These are the negative losers of the world who think that in order to fill their empty buckets they have to knock over yours and dip into yours and take what you have. These people never have enough..they are always lacking and walk around with a bucket that is empty.
How can we be bucket fillers as real estate investors? Here are some ideas that I am going to start doing more..
Bucket Filler in your business
- Writing a thank you email to anyone who helped you. Such as your webhosting company, list broker, realtor, birddog, anyone..
- Go out of your way to help a seller regardless of pay. If you work in any stage of the foreclosure process you know these people could use the bucket filling. Make them feel special, get them a gift card or call out of the blue just to say hi.
- Help a newbie land their first deal!
- Call someone who maybe you wronged in the past and tell them its cool. You forgive them.
- Or, someone you may have screwed over. Come up with something that would make things a little better.
- If you know of a cash buyer in a specific area, let a wholesaler know!
- Give leads freely to realtors, lenders, vendors, and other investors who may specialize in a niche you are not doing.
- Give thank you’s to your buyers that really mean something. Like a round trip ticket to Hawaii, or a special weekend cruise for there family.
- If you have tied up something from a seller, go out of your way to help them practically. If they are old, maybe help them with their groceries, or move something in the house.
- Send a compliment to someone out of the blue on social media.
There are so many things we can do, and would love to hear ideas from you guys. And seriously I am guilty as anyone for passing up opportunities to fill someones bucket.
I think the best way to start is with our own families.
If you want to get the book, I recommend Amazon or the library. If you do not have kids, just pretend you do and I am sure the place wont erupt in laughter and throw tomatoes at you.
But wait, theres more! I wanted to share some quick resources I found recently:
Couple quick resources
**A great interview that Josh Dorkin did with Michael Zuber. Right there on BiggerPockets blog section. Michael really opened my eyes to buying and holding. Great job!
**Investorloft a powerful search engine for real estate deals nationally. Do not know why, but only now I am starting to use this.
Have a fantastic Memorial day weekend!
To your success
~Matt
Bandit Sign Adventures
Hey Team,
Are you excited about this year as much as I am??
Goals are set, plans are in place and my marketing system has really come along way. So I have some tips for you if bandit signs is one of your marketing initiatives.
Let’s get into some of my tips I have for you:
- Map out your destination before you hit the road looking for busy streets with telephone poles. Trust me, you will get so much more done if you do this. So first map and mark where you want your signs, then drive the route. When its go time, you will cut your time down dramatically. If you don’t, let me know how long it took you to post 5 signs up!! LOL
- Use the Sign Stapler. Basically its a gigantic pvc pipe with a heavy duty stapler at the end of it. There is a slot for your signs to put in, so when you staple the sign, its really very easy. This way, you can put your signs up higher than most people can reach. You would have to be King Kong to reach some of the signs I posted the other night. You can get the stapler here >>www.signstapler.com. But do not do what I did!! For some reason, the stapler was facing the wrong direction when I put my sign in the slot. I go up to the pole at a very busy intersection…and hurrying mind you cause its midnight, and cops all around. I give it a firm whack on the pole and nothing!! What?? Haha! I know people were watching and laughing, I would be. I noticed it was backwards. So tip..make sure the stapler is positioned properly.
- Use yellow and black or blue and white with a simple message. Nothing more than 3 lines on the sign. Your goal is to get their attention and have sellers call you. While driving, someone just needs to read your phone number and message clearly.
- Get an easy to remember phone number. I tried my best to get an easy to remember # like 255-5555, something with 3-4 numbers in consecutive order. My phone co. had no solution, plus in Hawaii, it was very difficult getting anyone to give me an extra 808 number!! Why Google voice has no love for Hawaii is beyond me.
- Put your signs up on Thurs. or Friday night. The sign haters seem to be chilling a bit more on the weekends, not saying middle of the week is wrong either. Its worth giving a try and tracking results.
- Track your calls and deals from signs. If possible, try to find out how your seller found you out. Was it the postcard? Sign? Where did they see the sign? Although it is a shot in the dark with the exact location to be tracked. Still trying to figure that one out!! If you know of a way to track location of signs, please let me know.
- Break out areas in regions. I broke down most of the island in 4 regions that my investors buy in. Then I focus on putting signs up 1 region at a time, then move to the next region and so forth.
- Hit up each area once every 4 weeks or so. And try not to have signs within .5 of a mile.
- Place signs in areas that are busiest, and where cars stop. Having signs up where traffic is zooming by is a waste of a sign and your time. I like traffic lights, because stop signs for many are too quick often. Plus…who really makes a complete stop anymore?
- Be consistent. Most all sales are done on the second look or the follow up. Same holds true with signs.
- Have someone else put these signs up. Give your intern or property scout your map and expectations. You can pay them for a % from the profits or a dollar per sign.
- Branding your signs. Try to keep the same look on every sign you post. Perhaps you have a very simple logo that could be used, or part of a logo. In time, you want your phone number to be a number people remember.
You can use Bandit Signs.Com and get great service and very nice product. Another good resource is supecheapsigns.com. They both have signs geared toward real estate investing.
Marketing For Sellers
For me, my marketing at its core is:
- Direct mail to absentee owners, pre-foreclosure, and inherited properties
- Leads from one of the baddest brokers on Oahu
- Bandit signs to all 4 regions
- Website lead capture
- Getting on the phone and calling fsbo’s for rents, and pre-foreclosures
- Flyer’s
- MLS with specific search parameters
Please make sure you sign up for the free monthly newsletter. I have been working on some unique benefits that I know you will love.
That’s it for now, stay tuned because I have some cool video from the Big Island I have from the Holidays.
P.S. If you have not..register today for Pitbull Seminars National Hard Money Conference! March 3rd in Las Vegas at the Monte Carlo Hotel. This will be our 23rd national event, and poised to be the biggest and best one yet! You can go to www.pitbullseminars.com or give me a ring and I can take care of you.
Growth, Goals, Takeaways from 2010
Happy Holidays everyone!
I am on the Island of Hawai’i a.k.a the “Big Island”. My wife’s family is from Kona so we’re here recharging the battery, setting some simple yet big goals for the year, and having a good time. I think as we look forward to making 2011 a huge year, it’s fair to look back on 2010 and evaluate what just happened. For my business, we covered alot of ground. So here are some key highlights and takeways that perhaps we can all learn something from.
Key Takeaways:
- Moving forward I will evaluate potential powerteam members with more scrutiny. One of the biggest factors is integrity
- Other things to consider is honesty, know how, and competency. But if their integrity and values do not match with yours, stop wasting your time.
- Having targeted and specific cash buyers for deals needs to be a key area of growth moving forward especially for the Memphis market.
- Attracting private money in Hawaii I believe is a gigantic opportunity in order to be a huge turnkey operation. We have a good amount of serious cash investors, but not all of them can close on 5-6 $300k deals monthly. 15-20 Private lenders that are willing to put up the cash for a solid return will be seriously sweet to have.
- Sifting through all the Guru stuff, I really landed some amazing courses that everyone serious about investing should have in their arsenal.
**Marc Imhof’s Wholesaling Quick Launch. This training is very legit and worth thousands. The training has video and PDF’s for every area you can imagine in wholesaling real estate. Course includes forms, how to use the forms, how to setup your private bank, deal analyzer, how to locate cash buyers, code violation properties, and so much more!! Not to mention the software that honestly I have not purchased yet, but from the looks of it is better that Freedomsoft.
**Joe McCall’s Wholesaling Lease Options..Amazing strategy that if used correctly will give your sellers another viable option to consider.
**Fortune Builders Training: I was blessed to have someone give me full access to the online courses and let me tell you…WOW! I had no idea how thorough they are! It’s basically a 6 month course with action items at the end of each video.
**Drew Downs and Jeff Nemeth’s Do deals today with cash buyers Solid strategies for finding cash buyers, and tapping into the short sale opportunities out there. Another really great source for you to use, and in my opinion a must have.
**Steph Davis Flip This Wholesaler Ebook. Fantastic book that covers every question someone might have in wholesaling REO’s. You can get this for under $50 bucks!!
**Shae Bynes Financial Freedom GPS (A must for every entrepreneur out there!) A guide and compass for taking control of your business and finances. A must read especially going into the new year. Yes…under $50 bucks also!
**I also got to love Constant Contact for the lists you can make, email templates and the simplicity of placina q cash buyer by specific criteria with list. It shows your email analytics, who opened the email, and what pages they visited. Also…no opt in required. You just need to be sure they are on your list! Its just much easier than a double opt in. And…there is a 60 day trial!! No credit card needed.
Highlights from 2010
- Launched MattsREIBlog.Com and was nominated by BiggerPockets as “honorable mention” for top 20 best real estate blogs
- Launched my wholesaling efforts in Memphis TN and closed deals! All from my home office in Hawaii
- Learned a TON from Shae Bynes, Greg Harris, Bill Walston, Julie Broad, Steph Davis and many others
- Started Rosen Development LLC, which will be used for my consulting on social media and real estate investing
- Spoke at my dad’s national hard money conference which is out on DVD
- And was truly blessed to be connected to great people like you!
My next post we will get into some goals of yours, and mine. I am still formulating my thoughts on that and will put it to paper very shortly!
Have a safe and prosperous new year! And Happy Holidays..
Matt
Online Marketing Costs For A Wholesaler
As wholesalers, we get paid for making a win-win happen between a motivated seller and a motivated, qualified investor. The amount of value we bring the seller and buyer is directly related to our profit.
When the dust settles, we are essentially real estate marketers! Most wholesalers say they are real estate investors. As cool and sexy as that sounds, real estate marketers are really what we are. So with that being said, lets talk about this a bit…
In order to truly grasp marketing costs, you must first shift your mindset from having a job mentality to a business owner mentality.
Within your marketing efforts you need to narrow your focus for generating both buyer and seller leads. Most ask the question: “Do I market for buyers or deals first?” Ultimately, I believe you need the buyers first. You need to know exactly what they are looking for. Types of properties, areas, price range, how they buy, level of experience, if they need rehab crews or not, landlord, fix and flip, how fast they can close, etc… That way, you can narrow your marketing efforts much more effectively and find the right deals for the right people.
Here are some proven types of online marketing and the cost breakdowns. Prices often change, so look at this as a general guide, and if I butcher this pretty good, leave a comment and I am sure after counseling I will get over it:)
Let’s look at online and offline marketing:
Online Marketing
- Direct Mail to Absentee owners using Listsource or Melissa Data
- Mail and Print service to send your letters or postcards to the absentee owners using Click2mail
- Webhost Domain and Hosting using Hostgator
- WordPress site WordPress.Org
- Social Media Facebook, Twitter, Linkedin, Foursquare, Ping.Fm
- Email Marketing and lead Capture using A-Weber, Constant Contact, iContact.
- Voicemail system using Google Voice or AdTrakker
Here is how the system works:
Purchase the list from Listsource or Melissa Data–>Send postcard or letter via Click2mail–>Direct people to either a buyers or sellers squeeze page and/or voicemail via AdTrakker–>Determine the hottest leads–>Pick up the phone and develop a relationship with your buyers/sellers–>find your contacts on social networks and engage with them.
With your buyers, what you want is for them to know, like and trust you.
Rinse and repeat process…
Within time, you will know your ratios and percentages based on how many leads you need to get deals done.
Step by Step
Step 1. Setting up your website and squeeze page Webhosting and Domain Registration Recommended Service: HostGator $11 for 1 year domain name $10-$15 monthly for webhosting Monthly Price: $14.00 (estimate)Step 2. Email Capture and Lead Generation Recommended Service: A-Weber Monthly Price: $20.00 (for 500 opt-in subscribers)
Step 3. Direct Mail Recommended Service(s): Listsource or Melissa Data .15 Cents per name depending on needs… Monthly Price: $75.00 for 500
Step 4 Mailing and Print Service Recommended Service: Click2Mail .35 per postcard single side 4.25×6 black/white Monthly Price: $175 (500 postcards)
Step 5. Voicemail capture and transcribing Recommended Service: Adtrakker $50.00 (Estimated)
TOTAL ONLINE MARKETING COSTS: $334.00 (Estimate for 500 mailings)
Find out what works best for you based on your goals and financial situation. You can mix and match, but the closer you get to a system, the better off you are creating much larger profit spreads. There are many ways to cut costs…Drive for dollars then take down the address for vacant properties, for sale by owner, for rent signs. Then look them up in the public records online. Go ahead and mail them a letter or postcard.
Or perhaps you are interested in Bandit Signs for finding buyers and sellers. Check your local sign ordinances to find out the specific laws.
Offline Marketing
- Bandit Signs
- Handout flyers, door hangers, business cards (Check out Vista Print. They have great prices and service)
- Networking meeting..REI Clubs, BNI, local business clubs
- Newspaper
- Birddogs
- Drive for dollars
- Realtors
I will save offline cost breakdown for another post. I think you got the picture so far. I love offline marketing, and find that NOTHING takes the place of one on one networking. But there is way too much to talk about in one post.
To clarify more on some ideas to build a buyers list, go to my 17 ways to build a wholesale buyers list post.
Also, stay tuned for the recent updates from our National Hard Money Conference!
I spoke for 20 minutes on the topic of social media. The event rocked the house…So when I get the video, and recent pics that will be my next blog post.
Can you do me a favor? Actually 3? Can you sign up for my newsletter? Can you also leave a comment, and share this post via all your ninja tactics? Twitter, facebook, linkedin, or whatever you feel like?
Also, big congrats to Rachel Hernandez (adventuresinmobilehomes.com), Shae Bynes (Goodfaithinvesting.com), Julie Broad (revnyou.com), Steph Davis (Flipthiswholesaler.net), for a very strong performance and finish to Battle of the REI blogs, 2010. Julie was the ’09 winner, and defending champ. Title goes to Ron Mead, the Probate Guy!!
Muchos Mahalos
Matt
Getting REAL with Hard Money Lenders
Hey Team!
Special hard money resource that I am fired up about and want to share with you.
Have you ever been in the trap of trying to find an actual hard money lender, only to find that your deal was dragged through the mud with wanna-be brokers that all claimed they can fund the deal?? Or find out that what you hoped for was just a run in with a “fees house”?
I get calls and emails everyday from investors that needs a hard money lender ASAP. Sadly enough, I hear the same stories everyday. Its like Groundhog day but in REI:) It seems that the calls I get land in one of 2 categories. 1. A seasoned investor that got hosed from their hard money lender for fees, and they never funded. 2. Someone who is not seasoned and has the latest and greatest deal in nowhereville that will cash flow for generations:) For the seasoned investor, this can be a very frustrating time for them. They trusted the hard money lender, and gave them upfront fees to get the ball rolling. Then nothing happens..and they wait, and wait, then the deal goes bad. Sound familiar to some?
The Solution
I have a very good solution for you if you are needing transparency and trust within your hard money lenders. Verified lenders is a company that verifies and accredits hard money lenders!! They have a scoring system based on a number of criteria and their ability to perform or not. They are now the only company that I know of its kind. What that means is that you do not have to play guessing games with someone anymore. I will not tell you but you would be very surprised to hear who actually funds deals, and who hasn’t funded a deal in years.
Finally a company that keeps hard money lenders feet to the fire. And I get it about the fees…Hard Money is expensive and lending criteria has tightened, I understatnd. But come on guys, stay real with my investors and clients!! As wholesalers, it is imperative you have a solid list of direct hard money lenders on your powerteam. Not only can they fund your investors deals, but most good lenders have an investor list.
Make sure that you have these guys on your REI powerteam asap. Trust me, they will save you countless hours and who knows how much money.
I am excited to say that Jared Ekdahl and Nick Angelikis of Verified lenders will be in attendance at our national hard money conference next month. Oct. 14th, in Vegas at the Monte Carlo. And you can be assured, I will send everyone in their direction.
If you need a great contact, these guys are very REAL. Check em out at Verified Lenders.Com
While I am on the subject of resources.. here are some FREE tools you can get after:
- This is a FREE resource that I find very awesome. Video Emails!! For Free! Imagine sending personal video emails to your VIP buyers! Or a thank you to a key contact on a deal? Go to www.eyejot.com and let me know how this treats you. But really..think about it for a second. This tool can really change things up as far as building relationships.
- MindMapping If you are like me, I have pages of unorganized business ideas. This tool will map out your thoughts, and you can share with your team members also. Best part..Its FREE! (thanks to Gregg Harris for sharing this with me)
- Google Places (blogpost by Shae Bynes on BiggerPockets ”A free way to promote your business”)
- 17 ways to build a buyers list Some good tips I picked up from others in my journey
In the spirit of weeding out the good from the bad, I thought of this movie clip from Boiler Room. ( A true classic)
Hawaii Five-0 Premier
Hi Team,
It has been a while since I have posted, and it feels great to get back in the blog mode and connect with you folks. This post has absolutely nothing to do with REI, wholesaling, or business:) Every once in a while, you need to peel the mind from business.
Here is the story behind the story…
So I get all fired up about the Hawaii Five-O red carpet premier. The event was at the beach which was very cool. Yeah, cause its at the beach, but also I live a mile away from this whole thing. So I thought that this would be a great video to share with all of you. And deep down I thought that TMZ would end up begging me for my footage:) I decide to kill two birds with one stone and run there. Get some exercise and the premier. I have my “trusty” Flip camera and my Blackberry with me. I get to the beach, and land the top spot right where the stars are to be dropped off!! Yes!!! So I turn on my Flip camera, and it says…Battery too low for use. WHAT?!?!!? I charged it for 2 hours!! So I end up using my blackberry for the video, and gotta say not bad. I couldn’t zoom which was frustrating, so very glad that the stars came arms length distance from me.
Enjoy, and let me know if TMZ has got anything on me…
Combat these REI dream stealers..
Hey Team,
Let me share a story…
I coach youth wrestling for kids ages 4 up to high school. One of the biggest issues I face is the parents saying very negative things to their kids. I hear all of the names they call them, the threats, yelling, the mean looks. I have kids on the team that have amazing natural talent. Heres the story.. I have an 8th grader that is athletic, aggressive loves wrestling and has crazy talent. Our first freestyle wrestling tournament comes, and his first match is a high school kid who just took 5th in the state wrestling championships. Did I tell my wrestler who he is wrestling? Nope. I encouraged him and told him he can beat this guy!! And guess what, he believed me!! He went out there and was winning the match until….his dad came by and started yelling at him while video taping the match. The dad started yelling out how stupid he is, and to do what he says. I can tell if someone is going to win or lose just by the look in their eyes. And what I saw almost immediately was a defeated look. I went over to the dad, turned off his camera and told him to be quiet:) My wrestler lost that match to a good kid. But he lost because he beat himself and let someone else steal his passion. After the match I told him how proud I was that he wrestled so well. Then I had some “words” with the dad. This is a very common occurence, and the crazy part is these lashings come from parents that have never wrestled before. Imagine that!!! Could it be that they have absolutely no clue what they are saying??
If you are new to the REI world, you might be getting an earful from many sources, including family, friends, acquaintances, co-workers, you name it.
Let me be the one today that says you can do this!! You are closer to achieving your goals than you think!
Bottom line is if you have a burning desire to succeed, then none of these people and the things they say matters one bit. You need to get fired up about your future. Stay educated, fired up and watch out for these situations:
“Whatever you can conceive and believe, you can achieve” ~Norman Vincent Peale
Silent Dream Stealer’s
- Family and Friends: They could be parents, in laws, close friends. They mean well, but have no clue what they are talking about. (love them from a distance)
- Media: Television, radio, articles. Many of them have a negative dramatic tone that people are drawn to. Don’t get sucked up in this. This kind of material is poison to the mind.
- Cyber-Bullies: They lurk the forums and constantly attack new investors basically telling them that they have to have all and every duck in a row before they can even have the audacity to start in REI.
- Guru Webinars: They all tout to have the answer to the latest and greatest system and strategy.(and some of them are really good) One moment you are a wholesaler, and then all of a sudden you are looking into developing undervalued land into a mall? Just pick a strategy and pour your focus in that.
- Realtors: As in any profession there are good ones and bad ones. Watch out for the ultra negative realtor’s that can recite all the laws that tell you that you can’t do something.
- You! Your own thoughts and unbelief can hold you back.
- Greener Pastures: Someone trying to recruit you into their business promising more money on autopilot. You ever get those emails from internet marketers that have the key to wealth? And again, oddly enough there are many ways to make a million dollars but if you spread your energy and focus on multiple strategies nothing will happen.
If you have not seen this video, I find it very motivating. From the movie “Facing the Giants” (great for family movie night:)
Please leave your comments below, and sign up for my monthly newsletter if you haven’t yet.
For real estate wholesaling education, marketing info, please visit our newly revised Trusted Partners page
Thanks team,
-Matt
17 Ways To Build A Wholesale Buyers List
Hey Team,
As I venture my wholesaling biz to Memphis and other cities I find myself with a sharp focus on building a hungry buyers list. To get the activity in motion I scoured Biggerpockets, articles, asked others, and used my strategies that worked here in Hawaii to build a buyers list. I compiled a list with ideas and suggestions to get this done. I know that many successful wholesalers have their own unique niche in targeting investors, so please feel free to share your most successful approach in the comments section.
Buyers of your deep discount investment property is the lifeline to your success.
To paint a basic illustration, lets say you have a vision for starting a surf shop because you love surfing, and you have connections with the best deals and discounts on surf gear. So you start looking for a space for your shop, and decide on a great location in the middle of a cornfield in Iowa.
The only problem is there are no buyers for your great product where there are no waves! However if you take the surf shop
to the North Shore of Oahu, where the waves are the size of skyscrapers then I would say finding buyers will be a breeze. So what I am saying is “go where the waves are.”
So this really more of a guide for me as it is as much for anyone else.
Building A Wholesale Buyers List
- Call the “For Rent” “lease option” “renovated” ads in the newspaper, craigslist, backpage, kijiji, etc.
- Call the “For Rent” signs that are handwritten that you see hiding behind the bushes:)
- Call the “We buy houses” people. Yes, the majority are wholesalers..which we all need.
- Market for another wholesaler by using a Flex Option. This will put money in your pocket, and build your buyers list. Market the property using Bandit Signs (you can order 25 for free right now!) , online ads, newspaper, social media, etc..When the investor calls, spend a few minutes discussing what they are specifically looking for.
- Have a property under contract!! Nothing speaks louder than real deals, and if the numbers are good, your responses should be high.
- Go to a real estate Auction. In Honolulu, every business day there is an auction downtown. Find the investors that are making offers and introduce yourself to them. For the most part, these auctions require all cash.
- Call the section 8 office in your city, and property managers. Ask them who they know who is actively looking for more real estate investments, or needing to sell quickly. Start schmoozing with them and try and get a list.
- Hard Money Lenders all know cash buyers and most are very willing to spread the word. Get a deal under contract, make sure your hard money lenders know about it. They are motivated because they might get the points and interest for funding 30-40% of the deal.
- Your local REIA meetings. Nothing takes the place of talking and shaking hands. But beware, many are tire kickers so proceed with wisdom.
- Use Social Media!! Linkedin, Twitter, Facebook, BiggerPockets, RealEstateInvestor.Com, REIClub.com. Sign up to be a part of a group for your target city. Make sure you read the profiles, and connect with those people.
- Post an ad in Craigslist saying you have properties 30%-50% of retail value. Send them to your site or squeeze page.
- Make a solid contact with a realtor that will search the MLS for cash buyers within the last 6 months.
- Go to events that are geared towards real estate, hard money, financing. I recommend Pitbull Mortgage School’s hard money conference Oct. 14th. Hence, pretty biased as my dad is the President and I am director of business:)
- Search in Google, Yahoo, Bing, Facebook, Twitter “Sell houses fast”, “We buy houses”. Typically in Google you will get the first page of national wholesalers or lead capture services. Page 2 is where you will start seeing genuine sites that are typically real deal investors.
- Contact you’re power team members such as your title agent, attorney, insurance agent, buyers real estate agents, birddogs. Just start talking away, and the word can spread quick.
- Become internet savvy. Create a website with a squeeze page on it. Work on making your site SEO friendly. If you use WordPress, there are SEO plugins that are awesome. Just search SEO plugins for WordPress. A couple that I like are SEO smart links, and SEO friendly images.
- You can purchase a list of landlords and absentee owners from Listsource or Realquest. Contact them via direct mail or call them. I have not used this approach but heard it works.
My favorite approach is using the internet. So here is a quick and easy “cliffs notes” version to getting a site up and running ready to capture buyer leads.
Online Marketing 101
- Choose a domain name. www.yourinvestorsite.com You can go to Host Gator for domain and hosting.
- Hosting your website. There are allot of good hosting companies out there, but HostGator has proved themselves very professional and cost effective. Transferring domains from one company to another is a headache that you shouldn’t have to go through.
- Upload your hosting to WordPress. Use WordPress as your blog platform. Just ask your hosting company to help you:) WordPress is the 800lb gorilla when it comes to creating a site.
- Capturing leads with an auto responder. Aweber will be able to use professional forms on your site, manage your email subscriptions, send out professional emails to your list, manage and track your opt in rates, and so much more! I really like AWeber and the service they provide. It seems that all the major players use AWeber for there email campaigns and tracking the lists they work so hard for.
You can simply post ads everywhere, and when someone clicks on the link, they are sent to your squeeze page where you then capture there information before they go to your site. You can post ads on Linkedin, Facebook, Biggerpockets, Google, articles, squidoo pages, hubpages, Craigslist, backpage, Kijiji, FSBO Sites, etc..
Please visit the Trusted Partners page for more links and information
I would like to keep you updated on what we have going on, so if you are interested in our property updates, and FREE REI information, please sign up for the monthly newsletter at the top right.
I look forward to connecting and reading your comments.
To your success
Matt
Virtual Wholesaling 7 day countdown *Final Results*
Final Results!
Today is 7/8/2010 so let me share with you the final results to my 7 day wholesaling countdown. This challenge deadline is today Friday 7/9/2010. Can you hear the Rocky theme song? I can, its ringing in my ears. So to quote from one of my all time favorite movies….
“Get up you son of a bitch! Cuz Mickey loves ya!” ~Mickey Goldall (the movie Rocky)
My initial goal on 6/30/2010 was to complete a wholesale deal within 7 days or less in a state and market I have never stepped foot in. Another caveat was that this would be done using social media and use my contacts from there to get this accomplished.
Just a note… This post is simply me giving people hope that from scratch you can put together a deal from anywhere in the country. This is to give hope to someone who really hates having a J.O.B and wants a way out! Please do not over complicate things, its much simpler than you think.
Well lets cut to the chase…
DEAL IS DONE!!
From Hawaii to Memphis, we put together a virtual wholesale deal from scratch. And when I say “we” I mean a team. More specifically my partnership with Greg Harris from TheWholesaleKnockoutKing.
Here are the nuts and bolts of this deal. (basic version)
- Set a goal to achieve this
in 7 days - Wrote my goal down via this blog
- Created a plan (blog)
- Created my buyers list by spending many late hours consolidating my contacts I have made through Twitter, Biggerpockets, Linkedin, Plaxo, and all the groups associated with these sites.
- Made a list of all the hard money and private money people I know in the Memphis area
- Got a call from Greg Harris who wanted to collaborate our resources and vision for Memphis
- We found a landlord with a large portfolio that needed to liquidate
- Placed one of the properties under contract
- Sent an email, tweeted, posted it on Linkedin, made some calls, and sent everyone to the Sellpoint page that Greg setup
- Within minutes had over 60 views to the property
- Had an offer made and accepted on the 6th day!! Earnest money being deposited right now!!!! For a “tad” more than we asked for.
You might be saying..
“Oh thats great and all, but he probably was sandbagging this deal” Answer: NOPE
“Yeah, they already had well established connections ready to go” Answer: NOPE
“Yeah, but….NOPE Zip it!
Things I learned and could of done better:
- I created an investor buyer list of 180+ in a few days. Actually I had them lingering in all my social networks, I just never
consolidated all of them and looked at the value of what I had. Having a list of people that know, like and trust you is much more effective than having just a list. Finding out exactly what your buyers want, and delivering it. - Learned that you can buy a house in Memphis for less than what I paid for my car
- my opinion Linkedin and Biggerpockets are the BEST sites where you can connect with solid investor buyers. You just need to be saavy about the approach and use all the proper social media engagement rules. And not be spamming idiot. Linkedin groups has a ton of available resources.
- Visit the investor’s blogs that you find on social networks. Many of them will blog about the types of properties they are looking for and that are currently in the works.
- Partnering with the right wholesaler with the same vision can be very fruitful if your partnered up with the right people. Greg Harris from TheWholesaleKnockoutKing and I have collaborated our goals and resources. I am very thankful for Greg, and highly recommend connecting with him if you are serious. I can honestly say if you are looking for a real estate mentor Greg is the man for that. There is a huge difference in getting mentorship from a seminar gur
- FOCUS on the task at hand. And not get tied up in social media, webinars, opting in to everything, or just anything that has nothing to do with the task at hand.
- Of course, progress into direct mail, bandit signs, advertisements, birddogs and a clear website presence.
- Some sites that you might like that I found useful. GoSection8, Zilpy.com, Rentometer, SpotCrime.Com
Thanks again for all my awesome team members!!
P.S I have some huge FREEBIES coming down the line for you. All you gotta do is opt in for the newsletter. Top right…yeah I know you see it! Plus..you want to make $$ don’t you? Sign up, and get updates on properties that can make your pockets burst with cash.
Virtual Wholesaling *7 Day Countdown*
Today is 6/30/2010, and I am laying out my plan to go from zero to an assigned contract with money in the bank within 7 days.
Begin with the end goal in mind: A wholesale real estate deal done and $$ earned in 7 days or less doing it all virtual across the Pacific Ocean. I will only use the contacts and resources I have made through social media such as Biggerpockets, Twitter, Linkedin, Youtube, Craigslist, etc.. I am a big believer in using all marketing efforts like direct mail, bandit signs, bird dogs, internet marketing, but for this were keeping it 4th grade simple.
“Expect the best. Prepare for the worst. Capitalize on what comes.” ~Zig Ziglar
Lets get going…
Core Checklist:
- Targeted area(s): —>Memphis, TN, Las Vegas, NV
- Buyers list: Extracted entirely from social media. Biggerpockets, Twitter, Youtube, Linkedin, Craigslist.
- Sellers list: Deals that I expect to get from my network of investors, hml’s, craigslist, social media.
- Local Real Estate Agreements:…still working on those. Shouldn’t be a problem by simply asking another investor or realtor.
- Investor friendly Title company: Ask other investors who they use
- Contacts: Partners on the ground ready and able to verify property condition, value, and costs for improvements with pictures or Google Maps with video.
- Buyer website: (for pictures, video and property details) And/or use SellPoint.Com which I am pretty excited to see how it works. A great list of resources to market properties on is @ TheWholesaleKnockoutKing.com check out Greg’s expansive list.
Days 1 and 2
- Day 1: Build and Organize my list: For as long as it takes today, I will scrub and comb through every investor that has come across my computer screen. That includes all inbox leads, BiggerPockets contacts, Linkedin, Twitter, etc.. Copy and paste onto an excel spreadsheet with name, email, number location, and criteria. This list will consist of hard money lenders, wholesalers, and cash investors. Also, going into these markets I need to have contractors, subcontractors, real estate attorneys, title agent, realtor, hard money lenders. Will I need all these people to close my deal? Not necessarily. But having these resources makes you more valuable especially when your cash buyer needs private money to close the deal. This project is bigger than getting a deal in 7 days. This is the start to building a great reputation in that market and developing long term relationships.
Question you might be asking: How can someone who lives in Hawaii have so many contacts in Memphis? I am not about to say that I am more connected that most investors in Memphis. Heck, I’ve never even been to Memphis!? Here is the beauty of networking, and social networking. I have made solid contacts with important people in Memphis. That means that when they introduce me to their network, I am now connected to those people! And the best part is because they don’t know anything about me except for what was told to them, they don’t know all the stupid things I’ve done. Isn’t that good news!! I might know only 10 people in that area, but those 10 know much more. The science of social networking is a thing of beauty. Think about it for yourself. I am in Honolulu, and have tons of contacts that I would love to introduce to you. That means that with one decision, you can setup a virtual shop in Hawaii and be connected to so many that will can help you.
Day 2: Find a good investment deal. Make contact with hard money lenders, wholesalers, landlords, rehabbers, baby mama drama’s or anyone who may hint to having a motivation to sell. Build the connection needed and find out what I can do to help them. Identify a number of excellent investment properties that fit the criteria of my cash investors.
Tapping into hard money lenders and wholesalers
Lets look at 2 types of people with different lenses. A hard money lender will often have a property that is defaulting which makes them a motivated seller. A wholesaler may tons of buyers, but no deals. Or they have a deal, with no buyers or even a clue how to market the deal. By providing either the deal or buyers this positions myself for a profit split with other wholesalers.
Day 3-7 is coming. Not there yet!! But hold your horses and stay tuned for the outcome. I guarantee days 3-7 will be filled a great roller coaster ride that we can all learn from.
I expect success in this project, but worst case scenario is that I have just set myself up for success right around the corner. Biggest benefit is that I proved to the most brand new newbie that it can be done!
**To learn more about real estate investing check out one of the best investors in the game! And I’ve got his free training right here for you**
On another note
Also, I am excited to be a part of Pitbull Seminars national hard money conference! And would love to see you there! Next event is Oct. 14th in Las Vegas at the Monte Carlo Hotel and Casino. For a sneak peak, check out what our Florida contacts had to say. And visit PitbullMortgageSchool.Com for more info.
Nothing whatsoever related to this post. Check out my little brother Isaac showing off his grappling moves with Clark Gracie. Isaac is a 2x Gracie Jiu Jitsu world champion.
**And also, if you have not yet registered for FREE monthly REI and social media tidbits and newsletter, please do so at the top right. I passionately hate spam as much as you do, so no worries about sending you a bunch of nonsense or selling your contact info.
**And a big Mahalo (thank you) to Josh Dorkin founder of BiggerPockets for giving me the honorable mention for the Top 20 real estate blogs. I am humbled by that and thank all those that have helped me. And I fully understand that I am the newbie blogger to the scene, so thank you all.
P.S You might be saying “Yeah, but we all know you have national conferences on hard money, and very well connected” True..however…
Please note…This deal will be done with people that I have met strictly from social media. That way, I have eliminated all excuses from your mind as a reason not to do this yourself
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