Social Media and House Flipping?
Here is a quick tip about social media, and it requires Facebook! I know everyone loves Facebook, so here goes… You can use Facebook to work your REI business and build credibility. But I’m in the business of building homes? You might think. I don’t need Facebook. I’m sorry to say, but you do need Facebook. What many REI investors don’t do is create a business page for their REI business. It’s free, so there is no reason not to make a business page. It is a simple page that tells the public what you do and who you are. Why is this good? When a potential seller wants to inspect your business before calling, they want to see that you are credible and that you are normal. Your business page lets them know you’re legitimate. Also, you can add a special domain name to your Facebook page. Now, this next part isn’t required, but it is recommended. Link your business page to your personal page. And now, the potential sellers see that you are a normal person and a completely credible source in which to sell their home. So, it’s this simple: build a business page, clean up your personal page, and then link the two. You don’t have to give away anything too personal, but a public profile is a necessity in modern business. Get on it and build out that...
Always get a nonrefundable deposit from a Wholesale Buyer!
Here is the lesson: always get a nonrefundable deposit from a wholesale buyer. Here is why: Last April/May, I had a property under contract. I had the seller locked in and had a buyer agree to purchase the property. With two days left to closing, the buyer balked and I was left to clean up a mess. The reason this is such an issue is because the seller needed that closing money to be funneled back into escrow as the down payment for a new place. So, it was a domino sale. It was important money funneled from one account to another account. So, needless to say, that buyer bit the hand that fed him and he is no longer on our wholesale list. Now, I ask for a $5,000 nonrefundable deposit, which goes towards the purchase at close, and this has kept the wheels greased. Don’t be afraid to ask for a deposit! If they won’t put down a deposit, find a buyer that...
Negotiating with Sellers is now LIVE!
Lately, I’ve been asked a lot: What are you working on next? Sure, we’ve got books and a podcast, and our super special App coming soon. But what else? Well, all you curious souls floating around in the world in REI, we are very excited to announce our newest product! Get ready, here is Negotiation with Sellers! What is Negotiation with Sellers? It is the only product in the Real Estate Investing space that gives you actual recorded phone calls from my company, TTM Development Co. Inside this product, all exclusive members will find videos for each call category that teaches you the various strategies that his company will use to negotiate with a seller. That’s right, you get to listen in! You get a front row seat to hear how each and every negotiation strategy is used! Are you curious yet? Click HERE! In each section, I will explain the techniques and strategies used by himself and his office manager, Chris. Each section will have a video of me explaining each of the strategies and will include multiple calls for Exclusive members to hear these strategies being put into practice. Curious how a pro will put a solid deal together? Listen and Learn! We believe that direct to seller marketing is the best way to acquire deals at the absolute largest discounts. If you believe this too, then it’s essential to know how to effectively communicate and negotiate with motivated sellers. This product does just that! The Negotiating with Sellers product is one of a kind! It has never been created before! We are the best in the business and have built one of the finest and most successful REI businesses in the country. Learn from the best, so you can close profitable deals directly from motivated sellers and take your REI business to the next level! Check out Negotiating with Sellers...
Bird Dog E-Mail Blasts
This quick tip is a simple concept to take into action. Let me illustrate… last year, we got a lead into the office. We went and looked. The lot was big and the house was a scraper, so we thought it was a good wholesale for a builder who could split the lot. We were about to make an offer when the seller let us know that another offer was on the table, and this offer was for the exact amount he wanted. Even though we thought it was too much. So, long story short, we bowed out of the race and reset our sights. Not a week or two later, I get an E-mail blast from a company I did not know, which was an E-mail blast to sell this exact property we looked at. Albeit, for $5,000 more than what was paid. Here’s the nugget: don’t just slap together a blast e-mail to drum up business. If you’ve got a property under contract. Call and talk to someone and give the transaction a personal touch. Here is another thing: some people like to do dirty business. Imagine if someone in that blast sent a copy of the e-mail to the seller and blew up that deal. It would create a shit storm. Like I said, call potential buyers and talk to them. It will cover your ass and make them feel at...
Focus & Grow!
Focus. You need to focus to achieve success. Right? Sometimes your focus needs to shift in order to grow. This is something I don’t hear a lot of Guru’s talking about. When to know how to try and grow your business. Let’s use an example from Real Estate Investing. Let’s say your wholesale business is growing. You’ve got connections. Builders are asking what’s coming down your pipeline. But, you want to grow your business? Should you try to dip your toe in another market? This would require virtual wholesaling. Do you want to do virtual wholesaling? Did you consider marketing to a different section of town? These are good questions that address the issue of focus and growth. Whenever I want to expand my reach, I ask myself: Am I ready for this? Is this the vision of growth I have for myself? I don’t want to spread myself too thin and lose the mastery I have in REI. So, ask yourself: What direction do you want to go? And what is it going to take to get there? By asking these questions, and giving yourself honest answers, you should be able to make good decisions that you are confident with. The point I am circling here is this: sometimes slow growth is good growth. You want to be a master at wholesaling before you try rehabbing. You want have mastered rehabbing before you dive into a big renovation. I wanted to produce the podcast for years, but I wasn’t able to do so. I have mastered my business and I was in a position to share that mastery with other Real Estate Investors. A few years ago my business might have suffered. Today, I can keep the REI machine cranking and share information. I focused and grew, and now I’m focused on newer projects, so that I can grow again....
The Earnest Money Scam – Don’t fall for the trap!
This week’s Golden Nugget is something I’ve mentioned before, but I think it would be good to talk about this issue again. It seems to be happening in many markets. It has to do with Earnest Money and Scams. I bring this up because I don’t want anyone to fall into the trap. The trap I don’t want you to fall into is this: You spit out a round of marketing, you get a call, and you go to see the seller and his house. Afterwards, you both agree on a price. You think, I’ve got a deal! This was too easy! What’s the catch? The seller then says they have one condition: you deposit the Earnest Money directly to the seller right then and there. And, the deposit must be made in cash. Well, this is strange? Is it not? So, let me be clear: Do not give them Earnest money! That is for the Title and Escrow Company! These “sellers” are calling Investors and pretending to sell at a great price, but only if the Earnest Money is dropped right then. This is a scam to see how many newbies fall for the trick. Now, I don’t know this for sure, but I bet that if you pulled a Title Report there would be a lot of liens and judgments, and you wouldn’t be able to buy the house anyway. Why else would they be scamming you? Chances are they need the cash, so they scam you for the money. So, if they then say no deal. Let them know that is fine. No deal. Because the money should be deposited with the Title Company, who will issue a Title Report. And if the Title Report says the Title is free and clear, the Earnest Money will then be deposited into the seller’s bank account. No Earnest Money? No Title Report? No...
Associations
