Real Estate Tasks To Outsource
When you first start off in Real Estate it feel like you have so much to do. Once you get a few deals closed you want to set up a successful system & team. For some you might want to start your team off the bat. Just so you can outsource things that your not as good at. This could be several things.
One task that can be outsourced is posting ads on craigslist and backpage. Its a simple task, but can be put off to someone like a virtual assistant to do every 48 hours. Also making calls to cash buyers that you find from public records, and putting them on your buyers list. Another great tasks you can outsource is preparing your marketing materials to go out. If your doing direct mail, it takes time to stuff envelopes and lick stamps on them. This can easily be passed on to someone else.
Now there is tons of other things that can be outsourced. Negotiating with sellers, making offers on properties, doing follow up calls. Now you may or may not want to outsource these things in the beginning. I would suggest to get a few deals under your belt before you outsource making offers, and negotiating with sellers. But you can get someone else to put out bandit signs for you. This is one of the most time consuming tasks. You can pay someone a $1 a sign and have them put there signs up Friday night after 5pm.
Just remember to create Freedom, you will eventually have to outsource your tasks. And work on your business and not in your business.
Full Time Investor vs. Part Time Investor
For most folks that start off in Real Estate they start off as a part time thing. Than eventually they move from part time to a full time investor. Many people ask the question when is it the right time to make the change from a part time investor to a full time investor? How many deals should I close before I quit my job? The answer is simple.
But only you can answer it. For me I quit and took a leap of faith. It was the best thing I did all year. For others it might be certain amount of money you want to stuff in your bank account. Might want to close a few deals, so you know you can run a successful business full time. For others there dead end job becomes just that. A Dead end that becomes a burden, and really slows them down from doing anything else but work there job.
You must analyze your situation. Outweigh the good and the bad. My thing is if you have a plan A which is to do Real Estate Investing. You need to go in it with a mindset, that this is going to work, or I will die trying. No room for a plan B. It will distract you from plan A. It will be a grind, and your faith will be tested. But it will all pan out in your favor! So if your goal is to become a full time investor in 2011. Go out there and make it happen!
Selling Properties With A Call To Action
The one thing about the Real Estate market today, is that there are tons of deals. And for the people that have some cash are really cashing in on these great deals. The One thing you have to remember is you must always create a call to action. You could have the best deal in town, but you must add a push to get the buyers to react quick. You can do this in many different ways.
One thing you can do, is call your buyers first. If you have a VIP buyers list, which everyone should. Give them a call, and let them know about the property and tell them that tomorrow you will blast it out to about 1000 people on your email list. This way the buyer feels very important, and will be forced to act soon, because the fear of losing out on the deal. Another thing you can do when sending off your properties to your email list, put that your last property sold less than a hour last time you blasted out a email to your list. Once again it creates that scarcity, that they can lose out on a great deal.
One last thing you could do as well. Is when the buyer calls to ask if its still available. Tell him hold on a minute let me check. Wait like 30 secs to a minute to act like your checking if its still available because you believe it sold. This method works great. Then get back to them, and let them know its still available but probably won’t be after today. If you start to implement all of these strategies, you will see your properties will start to get sold a lot quicker.
Multiple Marketing Sources Good Or Bad?
In Real Estate Wholesaling there’s so many different Motivated Sellers. There are tons of different people to market too, and you can profit from all of them. The Question I get a lot from new investors, is who should I start to market to first? Is it good to market to all different type of sellers starting off? To answer the question it depends on your budget. If you have a small budget to spend money its always to start to do some direct mail to NOD’s, pre-foreclosures, probates, and absentee owner high equity. Those are the best people to market to when starting off.
Now there’s also tired landlords, recent evictions, divorce, and fire damage properties. Also you can market to code violation properties. Which is basically properties that have a code violation for something as simple as not cutting there grass. These properties will get a fine every single day for like $50-$100 bucks until the code violation is rectified. Which comes in handy in negotiation when talking to the seller.
The key thing in Real Estate is to test out different marketing. Stick with it for at least 3 months, and if one source is not producing better than the other. Drop it! I wouldn’t recommend to market to all prospects listed above when your first starting off. Instead pick 2-3 and than add on as your budget increases. Having several different sources of marketing will increase your success rate in flipping homes. Key thing is to commit to a few, and get started marketing to them. Don’t get caught with paralysis analysis, and spend to much time learning every technique. Because you end up not making any money!
No Offers, No Money.
I remember when I first got into Real Estate. I remember my mentor saying “If your not making offers, your not making money.” He also said, “You should be making 5-10 offers a day.” I stopped for a minute and thought about it. I realized he was right. All this time I had been trying to educate myself, and would do a little marketing here and there. But in reality I wasn’t making any offers, or money.
From them on my business changed forever. Real Estate as you have probably heard is a numbers game. Your going to go through several leads before you get to that golden nugget. You will make tons of offers and none of them will get accepted but one. For you to be successful you have to take a lot of action, and start to make offers on properties. I know it can be frightening to offer a homeowner 50k when there asking for 90k. But you have to fight that fear, and get into the habit of talking with sellers. The more you do it, the less frightening it becomes.
So my question to you. How many offers are you making today?
Connect with Me
 |
 |
 |
My Videos
Software I Use In My Real Estate Biz
