Jul
6th
Getting Buyers for your Wholesale Deals
By King of The City, Residential and Commercial Investor
Wholesaling involves 3 people. You, a motivated seller, and a
motivated buyer. Last time i went over how to get motivated
sellers contacting you...
Now that we know how to get motivated sellers begging you to buy their house...we need to know how to sell these deals for a profit. (Be sure that you have a property under contract BEFORE you go shopping it around to your buyers or advertising it online or offline)
Here are a few great ways to get buyers for your deals (hint: in todays market it's a great idea to speak with potential buyers first, find out their buying criteria and then go find them a house):
Once you find a buyer for your deal, simply Assign the original contract with you and your seller over to they buyer. You can do this by using a....drum roll please......."Assignment of Contract" contract.
When i closed my first wholesale deal i said, "This is so Easy! What have i been so scared of?" Get out there and make a difference and you'll feel good about making the world a prettier place.
Take Action..Be Free.
-Adam Walker
Millionaire in Training
www.MMMChallenge.com
www.TheKingofTheCity.com
www.RealDealLouisville.com
Now that we know how to get motivated sellers begging you to buy their house...we need to know how to sell these deals for a profit. (Be sure that you have a property under contract BEFORE you go shopping it around to your buyers or advertising it online or offline)
Here are a few great ways to get buyers for your deals (hint: in todays market it's a great idea to speak with potential buyers first, find out their buying criteria and then go find them a house):
- Get a list of absentee owners from http://www.listsource.com or http://www.realquest.com or your local property valuation assessor. Mail them a yellow 4 x 6 post card using http://www.click2mail.com . Have it say something like, "I want to buy your house at "property address". I noticed you didn't live their, If you're interested in selling for cash i can pay all your closing costs and close in 2 weeks. Call me at xxx-xxx-xxx."
- Bandit Signs - You can use the same 18x24 corrugated plastic signs that you used to get sellers, to get buyers. Get them at http://www.signwarehouse.com . I like the yellow ones with black writing, but white with blue writing works good too. It should say "Cheap House Handyman Special $19k. and your phone number. " or "Fixer Upper Must Sell! Cheap! and your phone number." If they call and ask for more info on the house for $19k, tell them that one is already sold and get their information and buying criteria so that when you do have a property under contract you can let them know, or tell them about a property you do have for sale.
- Local REIA clubs: Find your local real estate investing club and network with the investors there. Have some business cards printed up at http://www.vistaprint.com and hand them out. Everyone in that room should know that you wholesale cheap, good deals to rehabbers and landlords. You can even get up in front of them and pitch any properties you have under contract. Print up some flyers to hand out detailing the property.
- Free Online Ads: Of course the interet is a great place to find buyers for your deals. Here's a short list of places to advertise properties for sale or to place an ad looking for more buyers: http://www.craigslist.org , http://www.backpage.com , http://www.flippinghomes.com , http://www.rehablist.com , http://www.steveshotlist.com , http://www.facebook.com (you do have a facebook account don't you? No?! STOP EVERYTHING AND MAKE ONE NOW!!!)
- For Rent Signs: Call the For Rent signs in your area. Ask the owner if they are looking to buy more property and get their buying criteria.
- Your Realtor: Ask your realtor if they have any investor clients that are looking for wholesale deals.
- Your own website/squeeze page. Bring in buyer leads by having a website or squeeze page that directs people to give you their information. get one at http://www.realfreedomwebsites.com or http://www.realeflow.com
Once you find a buyer for your deal, simply Assign the original contract with you and your seller over to they buyer. You can do this by using a....drum roll please......."Assignment of Contract" contract.
When i closed my first wholesale deal i said, "This is so Easy! What have i been so scared of?" Get out there and make a difference and you'll feel good about making the world a prettier place.
Take Action..Be Free.
-Adam Walker
Millionaire in Training
www.MMMChallenge.com
www.TheKingofTheCity.com
www.RealDealLouisville.com
May
13th
Key Points of Wholesaling Houses
By Angelica Lobo,Residential and Commercial Investor
When wholesaling there are a few elements that an investor must
have in order to close a deal.
Here are five of the most important points needed.
The Right Property.
One of the key elements to consider when it comes to wholesaling is the property to be "purchased" by the real estate investor. Always remember that you make money when you buy the property, not when you sell it. So consider wisely the offer you are about to make and/or the contract you are about to sign. Run your numbers, do your due diligence, know your market, do your homework.
Motivated Sellers.
Once you find the best properties for flipping, you can start negotiating with the homeowners or whoever is selling the house. During the conversation you(the investor) must find out the seller's level of motivation by asking the right questions.
The Contract.
The contract or purchasing agreement(P&S) is the most important document for wholesaling houses. The P&S agreement gives the investor the authority and right to sell or lease the property(depending on what was agreed upon with the sellers). It will indicate that the homeowner agrees to sell his or her property to you within a period of time. Whether you buy or don't buy that property within that timeframe, the owner will keep the money you paid to place the property under contract.
The Assignment Clause.
This is the most significant detail in the P&S agreement. This clause allows you (the investor) to sell your interests (the contract) to a cash investor in return for a fee. In other words, the assignment clause is the money making part of the contract for those who wholesale homes for a living.
A Buyer's List.
Having your buyers linned up and ready to go is essential for investors who are wholesaling houses and will help you close your deals faster. Have their contact information and buying preferences filled, and every time you have a property under contract simply spread the word and let your buyers know about the great deal you have; then just wait for the calls.
Here are five of the most important points needed.
The Right Property.
One of the key elements to consider when it comes to wholesaling is the property to be "purchased" by the real estate investor. Always remember that you make money when you buy the property, not when you sell it. So consider wisely the offer you are about to make and/or the contract you are about to sign. Run your numbers, do your due diligence, know your market, do your homework.
Motivated Sellers.
Once you find the best properties for flipping, you can start negotiating with the homeowners or whoever is selling the house. During the conversation you(the investor) must find out the seller's level of motivation by asking the right questions.
The Contract.
The contract or purchasing agreement(P&S) is the most important document for wholesaling houses. The P&S agreement gives the investor the authority and right to sell or lease the property(depending on what was agreed upon with the sellers). It will indicate that the homeowner agrees to sell his or her property to you within a period of time. Whether you buy or don't buy that property within that timeframe, the owner will keep the money you paid to place the property under contract.
The Assignment Clause.
This is the most significant detail in the P&S agreement. This clause allows you (the investor) to sell your interests (the contract) to a cash investor in return for a fee. In other words, the assignment clause is the money making part of the contract for those who wholesale homes for a living.
A Buyer's List.
Having your buyers linned up and ready to go is essential for investors who are wholesaling houses and will help you close your deals faster. Have their contact information and buying preferences filled, and every time you have a property under contract simply spread the word and let your buyers know about the great deal you have; then just wait for the calls.
May
7th
RealDealCommunity Wholesaling University #2
By Professor Cashflow, Residential & Commercial Investor, Owner of Empire Real Estate, LLC
Wholesaling University With Professor CashFlow
Click Here To learn How I built
a huge list of investor/buyers using craigslist!! (I also
show you where to get a FREE website)
Class is in session. Today's lesson; "Building A
SUPER Solid List."
Reeling Your Buyers In
These are the two words that separate wanna-be
wholesalers
from the BIG BOYS. ➜ ➜ ➜ EMAIL
MARKETING.
➜ To truly BECOME the TOP wholesaler in your local
market you will NEED an email marketing software.
Some examples would be ConstantContact, VerticleResponse, or
iContact. I recommend using Aweber, and let me tell
you why. When your buyer signs up for your list, they will be
sent an email requiring them to click on a link in order to
activate their subscription. Some people are lazy, or don't
feel like opening up their email to click on the link so they
end up not being on your list at all. Aweber allows you to turn
this 'confirm subscription' option off, making sure that
anyone who puts in their information a for sure thing.
If you are looking for an absolutely free marketing
software, check out MailChimp. I have tested out Mailchimp
and STILL recommend Aweber and believe the monthly cost of
$19 will pay off when you make $8,000 on your first
wholesale like I did.
On your landing page is what we simply call a "sign up form".
This is where your investor will put in their name and email,
thus allowing them to subscribe to your list.
Professor 'Flow Tip:
Somewhere on your page by your sign up form
put this: "This list is indeed exclusive. We will
send you information on every property
we acquire one day before it is seen on our
website, and before it ever hits the MLS!"
Once an investor has landed on your page, they should feel
compelled to fill in their information in order to check out
your 'dirt cheap' houses for sale. If you don't have
any properties right now, that is OK, but more on that
in a moment.
What you will be using your new email marketing software for:
> Email Newsletters - Once you
pick up a property, the idea is to send out one email that
hits your entire list of investors. Remember, your building a
business here and you want the process of wholesaling to
function nearly on auto-pilot whether it is you or your
future acquisitions manager doing this.
> Website Sign Up Forms - You
will be able to create and customize your own form that can
be placed on multiple websites.
> Follow Up Autoresponders -
Start building lasting relationships with with your buyers
with automated prewritten sequences of personalized emails.
This will play a huge role in starting a dialog with each new
buyer.
The perfect Catch
If you want to become one of the top wholesalers in your
market, you simply need to become the
wholesaler everyone knows about, and looks to
for great deals.
As soon as an investor has made it onto your list, you need to
figure out who they are and just what kind of properties they
are looking for. This is why I love autoresponders!
➜Your new email marketing software will be sending prewritten
emails on days of your choosing to your new buyer
on ➜ auto-pilot.
A. Follow up 1:
Here is an example of a prewritten follow
up email that you will have Aweber send to your new
buyer on day 1:
Subject: Welcome Aboard
You just signed up for our VIP buyer's list,
Congratulations!
Congratulations!
Welcome to the club.
You're going to like it here,
we find DIRT CHEAP real estate in (insert your local area) on a VERY regular basis and practically give them away to super savvy investors such as yourself.
we find DIRT CHEAP real estate in (insert your local area) on a VERY regular basis and practically give them away to super savvy investors such as yourself.
Look out for our regular newsletters in your inbox. We
include all the details of each and every house, piece of
land, commercial building or development that we bring in.
You're officially in our inner circle by the way.
Feel free to call us anytime here at the office at (your
number here), or hit reply to this message.
And Add us to your contact List, so you don't miss ANY property
blasts.
Again, welcome to our world, and I trust you'll enjoy every
single second of your time here.
The longer you stay, the richer you'll be.
B. Follow up 2
Here is an example of a follow up you can
send on day 1 as well:
Subject. What do you want?
Hey there, {!firstname}. How's it going?
Listen, our very best buyers are the one's
who take the time to actually tell us what they want.
[Insert Your Site Here] <------ Click Here
To Tell Us What YOU Want!
we are the BEST at what we do. We have many
different streams
of marketing in place at any given time. And it's all
directed at
motivated sellers of real estate in pre-determined areas.
We do direct mail, classified ads in different
publications, google ads, internet marketing, bandit
signs, voiceblasts, etc.
We do all this so YOU don't have to. You can just sit
back and
enjoy the deals being served to you often and FAST.
Anyway, {!firstname} ... shoot on over to the blog and fill
out the VIP Buyers Information Form RIGHT NOW. It
raises your odds of locating your next slam dunk
investment property by about a bazillion
percent or so.
To Your Success,
(you)
(your phone number)
C. Follow up 3
Here is an example of a follow up
you can send on day 4 or 5:
Subject:. What's the deal with....[your name here]
Hi {!firstname}. Buy any houses lately? Only from
us I hope.
We quote ultra-conservative ARVs (After Repaired Value) when
describing our different deals to you.
PLEASE make sure you double and triple check the true ARV's
of whatever it is you're considering buying out there.
The
market is crazy right now, and it can sometimes prove to be a
little tricky to determine the exact value of property. I
don't
wanna see you get stuck with a problem property because of
some scumbag, newbie, idiot contract-flipper who cares about
no one but himself.
To Your Success!
(your name here)
D. Follow up 4:
Here is an example of a
follow up you can send perhaps a week or two after your buyer
signs up.
You can search the internet for the ebook
mentioned, or choose another if you like:
Subject: Hey {!firstname}, I've got something for you..
Hey {!firstname}, it's (your name here). I hope this
message finds you well.
Just thought I would send you a quick email before heading out
the door.
A little while ago, I read this great ebook called Winning
Big in Changing Markets.
Today, I thought I would send it along to you because I can't
help it {!firstname}, I'm a giver :)
Also, don't find it strange if every once in a while I send
you these little goodies.
Knowledge is power, right?
You bet it is, and I care about your success
Read it all the way till the end. Its got some great advice,
and things you can apply today!
ps. Keep an eye on your inbox in the upcoming week
E. Follow up 5
Here is an example of a follow up you can
send whenever:
Subject: the best way to collect rent it...
Hey gang, in the spirit of giving back, and the old adage, each
one
teach one, I have something cool to tell you about.
As investors, we have to deal with the tenant(s) that seems to
get
amnesia on the first of every month and you have to remind them
they need to pay rent. We heard about a company called
ClearNow.com. CLICK HERE They automatically deduct from
your tenants checking or savings account each month. We
really like
this service because it makes collecting rent a no-brainer.
Check it
out, we know investors who have been using them for over a year
and love it. In order to get their tenants to see the
benefits, they tell them that rent is X amount if they
participate in the program, and X amount higher if they do not.
So far, I think they always go with the Direct Debit option.
Your Best Investing Buddy
(your name here)
The idea is to deliver content to your new buyer, at the
same time educating them on who you are, what you do, and why
they should choose you over anyone else.
As each new buyer comes onto your list they should think
to themselves, "this wholesaler is the real deal!"
In case you missed it... Click Here To learn How I built a huge list of 300 investor/buyers using craigslist!! (I also show you exactly how to get your hands on a FREE website)
Professor CashFlow
RealDealCommunity Member
Billionaire In Training
MMMchallenge.Com
Call or text at (347) 855 - JOEL
May
6th
RealDealCommunity Wholesaling University #1
By Professor Cashflow, Residential & Commercial Investor, Owner of Empire Real Estate, LLCWholesaling University With Professor CashFlow
Class is in session. Today's lesson; "Building Your Buyers
List."
I'm assuming you are aware of the importance of building a list
of investors of which you will wholesale your properties to. I
won't bore you with reasons why this needs to be done &
done well.
Let's also assume you are broke, and will have to build a
business from the ground up with very little money to your
name. Well, keep reading then. Follow Professor CashFlow's game
plan. Soon you will find yourself on your way to the closing
table to pick up a pretty check with your name on
it. Let's begin.
1. Searching For
Buyers
You will come to find that sites such as craigslist are going
to be huge
when it comes to building your list. Why? It's free,
and absolutely works.
Professor 'Flow Tip:
You will want
to create a second email address specifically for
Craigslist. You will be posting a lot of ads, therefore
getting plenty of notifications as well as
spam.
If you haven't created a craigslist account yet... Take a
break from this letter, and do this know.
It is very simple to post your ad. Soon you will become a pro
as you post dozens of ads and watch your list grow.
Simply go to your local city and post your ads in real estate
"for sale by owner" or "for sale by broker".
When marketing for buyers on craigslist use simple but
eye-catching ad titles.
• "CHEAP HOUSE"
Under 40K
• DIRT CHEAP
HOUSE - Photos included.
• Fixer Upper |
Rehab Special
• Attention
Investors | Landlord Special
• Investors
Wanted | Video Inside
These are just a few examples, the more eye catching the
better. The ad content should also be short and sweet, and tell
them a little about who you are.
Ex.
" Attention investors! "
"Are you looking for local cheap investment
houses?"
"We are local investment company offering under market
properties for sale before they ever hit the mls."
"Click the link to see the deals we currently have on
the table!"
[insert your squeeze page here]
This is where you Internet marketing skills come to play.
From here you can take them to your squeeze page. Squeeze pages
are websites created to solicit opt-in email
addresses from prospective subscribers. In other words, grab
the name and email address of your new investor/buyer, so you
can send your deal right to their inbox.
2. Hooking Your Buyers
From here on out consider yourself an Internet marketer. That's
exactly what's your doing. You have found an investor
interested in your dirt cheap houses for sale, they have
clicked onto your ad, and now it's time to hook them.
It's time to build yourself a squeeze page. Your squeeze page
does not need to be super pretty, but it does need to say the
right thing.
You: [raising your hand]
Professor CashFlow: Yes
You: "but I'm broke, and I don't have any
money to create a website"
Professor CashFlow: I know, I am getting
to that.
There are a few places where you can create yourself a free
website. Try www.webstarts.com, it is simple to use and will
only take a few minutes to set up.
Here is an example of a squeeze page created with webstarts for
'capturing' buyers:
What your squeeze page should say:
Attention Landlords and Rehabbers:
"All smart investors know that the best real estate
deals are sold long before they ever hit the MLS"
"If you are a serious investor looking for cheap
investment houses whether it's for rental or fix and flip, then
I'm glad you have visited my site."
"If you are new to investing, broke, just finished a
real estate home study course, or just flat out don't know what
you're doing yet ... go away."
"This page is for serious investors who close with
cash, close fast, and know what they are doing. They know a
great deal when they see one, and they don't waste
time."
"If that's you ... keep reading ..."
"You are going to see how we go about getting these
local wholesale houses that absolutely no one else will ever
know about, and how you can get your hands on them before
anyone else."
"Just enter your first name and primary email address
over there on the right, and you will get instant
access."
"You've just entered The Players Club. Congrats."
Your landing page should be pretty simple. It
brings the serious players with money in and the tire kickers
out. They place their name and email address in your
form and they are now on your exclusive list of cash
buyers.
CLICK HERE To find out what separates wanna-be wholesalers from the big boys!
To Your Success,
CLICK HERE To find out what separates wanna-be wholesalers from the big boys!
To Your Success,
Professor Cashflow
Billionaire In Traning
MMMchallenge.Com
Facebook.com/JoelRoberts
Call or text at (347) 855 - JOEL
Billionaire In Traning
MMMchallenge.Com
Facebook.com/JoelRoberts
Call or text at (347) 855 - JOEL
Apr
16th
Wholesaler Buyers List.
By Angelica Lobo,Residential and Commercial Investor
A great fear that beginer investors have is whether or not they are
going to be able to sell the properties they have under
contract. When you are wholesaling properties for quick cash,
having the best deal in the world means nothing unless you have a
qualified buyer that can close quickly.
In fact, having a strong buyer’s list will allow you to even wholesale some “not so great” deals. Buyers work off different profit margins and you won’t know what the market will bear unless you have a system to get the buyers to call you and provide what you have to them.
When marketing for buyers a Wholesaler should think about getting access to different types of buyers. High-end property buyers, low-end property buyers, multi family buyers, rehabers, other investors/wholesalers, landlords...
You should have someone lined up for every type of property. It is not very good to have a list of buyers whose criteria is high end rehabs and you are not able to find these properties. What are you going to do with all other types of properties that you locate?
Here are some few ways you can use to build your buyers list.
- CLASSIFIED ADS.
Run an ad in the paper that says something like:
Handyman special
Great deal for rehabbers!
555-555-5555
or
Investor special
Below market
Won't last!
555-555-5555
Your phone will start ringing. When investors begin calling, get their contact information. Their name, number, fax, and email. Also ask about their criteria. Do you have a preferred area?Can you close with cash immediately?Can I call you in the future with good deals? What is your price range? What level of rehabs are you interested in? (ie: cosmetic changes like updating baths, kitchens, or changing carpet, or major jobs such a foundation).
If you don't have any properties under contract, when your conversation is finished, tell them that you do not have anything available for them at the moment, but will call them when you find something that fit their needs.
- "FOR SALE" ADS
Call “for sale” ads; particularly ads that say “newly renovated”. In most cases this will be an investor who has just purchased a home and fixed it up. Call the ad and ask the seller if he or she is an investor. If so ask the same questions and add them to your list. The fact that he or she has a home that is newly renovated, lets you know that you have a real buyer .
- SECTION “8” RENTER’S
Go down to your Section 8 office seeking the list of properties for rent. On this list you will find the owners name and phone number. Call them and find out if they are buying any more properties for their portfolios and ask them if you can call them when you get a great deal?. Section 8 Landlords are great source of buyers.
-"FOR RENT" ADS.
Same as Section 8 landlords. Call the number they listed and introduce yourself as an investor/wholesaler, ask them if they are buying and get their contact information and criteria.
- REAL ESTATE INVESTOR ASSOCIATIONS
Attend your local REIA meetings. There you will find all types of investors in your local area. Introduce yourself, give your business cards and get them from as many people as you can. Talk a litlle about your business, what you do, what you are looking for. Ask about their business, how you can be of any help for them. Build relationships. These people could be sources of referrals to your business.
Building a buyers list is crucial to your success.
There are buyers everywhere, in every market. You just need to dig them up, and with a little effort you can have The Ultimate Wholesale Buyers List.
When you get to know the players in your area, then you can see the trends and the areas they invest in. If you investigate further you can find out what they pay for homes and what they sell them for.
Remember, the faster you find a buyer, the faster you get paid.
In fact, having a strong buyer’s list will allow you to even wholesale some “not so great” deals. Buyers work off different profit margins and you won’t know what the market will bear unless you have a system to get the buyers to call you and provide what you have to them.
When marketing for buyers a Wholesaler should think about getting access to different types of buyers. High-end property buyers, low-end property buyers, multi family buyers, rehabers, other investors/wholesalers, landlords...
You should have someone lined up for every type of property. It is not very good to have a list of buyers whose criteria is high end rehabs and you are not able to find these properties. What are you going to do with all other types of properties that you locate?
Here are some few ways you can use to build your buyers list.
- CLASSIFIED ADS.
Run an ad in the paper that says something like:
Handyman special
Great deal for rehabbers!
555-555-5555
or
Investor special
Below market
Won't last!
555-555-5555
Your phone will start ringing. When investors begin calling, get their contact information. Their name, number, fax, and email. Also ask about their criteria. Do you have a preferred area?Can you close with cash immediately?Can I call you in the future with good deals? What is your price range? What level of rehabs are you interested in? (ie: cosmetic changes like updating baths, kitchens, or changing carpet, or major jobs such a foundation).
If you don't have any properties under contract, when your conversation is finished, tell them that you do not have anything available for them at the moment, but will call them when you find something that fit their needs.
- "FOR SALE" ADS
Call “for sale” ads; particularly ads that say “newly renovated”. In most cases this will be an investor who has just purchased a home and fixed it up. Call the ad and ask the seller if he or she is an investor. If so ask the same questions and add them to your list. The fact that he or she has a home that is newly renovated, lets you know that you have a real buyer .
- SECTION “8” RENTER’S
Go down to your Section 8 office seeking the list of properties for rent. On this list you will find the owners name and phone number. Call them and find out if they are buying any more properties for their portfolios and ask them if you can call them when you get a great deal?. Section 8 Landlords are great source of buyers.
-"FOR RENT" ADS.
Same as Section 8 landlords. Call the number they listed and introduce yourself as an investor/wholesaler, ask them if they are buying and get their contact information and criteria.
- REAL ESTATE INVESTOR ASSOCIATIONS
Attend your local REIA meetings. There you will find all types of investors in your local area. Introduce yourself, give your business cards and get them from as many people as you can. Talk a litlle about your business, what you do, what you are looking for. Ask about their business, how you can be of any help for them. Build relationships. These people could be sources of referrals to your business.
Building a buyers list is crucial to your success.
There are buyers everywhere, in every market. You just need to dig them up, and with a little effort you can have The Ultimate Wholesale Buyers List.
When you get to know the players in your area, then you can see the trends and the areas they invest in. If you investigate further you can find out what they pay for homes and what they sell them for.
Remember, the faster you find a buyer, the faster you get paid.
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