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Buy When There's
Blood In The Streets
Greetings
Members and Friends,
Baron Rothschild, a member of the
Rothschild banking family is credited with saying that "The
time to buy is when there's blood in the streets."
This is contrarian investing in its
truest sense of the word. In real estate, there is
blood in the streets as you read this. The news media
reports daily on how bad everything is getting. The
price of gas and food continue to go up and the stock market
continues to take a beating as the financial markets of the
world rock and reel for stability.
What should you do when there is
blood running in the streets? Buy, Buy, Buy!!!
Now is the time to buy because the market is depressed and
all the sellers are running for cover. Several
markets, to include Dallas-Ft Worth, are not feeling the
effects of the real estate crunch like others.
The real estate markets tend to run
in 7 to 8 year cycles. For the past 7 to 8 years our
real estate markets were booming. Now we are in a
market correction and have been for the past year and a
half. So, plan on going through this market correction
for about another 5 to 6 years. During this time, if
you heed my advice and Buy, Buy, Buy, you will be in a
wonderful position when the cycle completes.
Just when everyone else is ready to
jump back in, you'll be ready to either refinance and pull
out cash or sell and trade up to bigger, better properties.
Depending on your credit and job
situation, you might find it difficult to get a mortgage
these days, as banks are making it more and more difficult
to get financing. Don't let that stop you. There
are several other methods you can use to buy property.
You can borrow private funds and
pay your investor a much better return than they are
currently getting in the stock market, bank CD's or anything
else these days. You can also offer to buy property
with owner financing or subject-to. Where the bank
loan stays in place and you take over the mortgage.
In today's market there are lots of
motivated sellers and they will work with you to make a
win-win deal. If you need help and want to learn more
about buying in this turbulent market then you need to be at
the next meeting or contact me about attending an upcoming
class, purchasing a home study system or a mentoring
package.
Take
Action!
Greg Bell, President
Marketing To Find
Motivated Sellers - Part 2
Hello REITC Club Members and Friends,
As promised, here is part two.
Last time, I told you I would show you how to semi-automate
your marketing business. If you want to read part one
just scroll down to that article.
In marketing you're either
Consistent or you're Non-Existent! Let's tackle that
all important aspect of making your marketing a
semi-automated process.
#6. Delegate. Let's face it,
you can't do everything. The sooner you come to this
realization, the sooner you make real money in business.
When you delegate you
have to make sure that you have properly instructed and
trained the individual(s) handling various aspects of your
marketing for you. Otherwise, you could be in for a
rude awakening.
#7. Narrow down your farm area.
You can buy all the houses you ever want to buy within a 10
mile radius if you live in a metropolitan area. Don't
attempt to spread your marketing out all over the place.
Keep it tight and focused on a small area. Research
has proven that it takes an average of 7 times for someone
to see your message before they respond.
Therefore, you should be busy
getting your marketing message in front of your targeted
market as many times as you can. If you mail postcards
and letters make sure you mail out at least 7 - 10 times to
your list or until you find that you are not closing any
more deals from that list. When using signs just be
sure to keep putting them out in the same areas where you've
been putting them and the calls will come in.
#8. Go after an under served; niche
market - Stop Chasing the same market everyone else is
chasing.
#9. Don't try to serve everyone.
Just serve your market niche better than anyone else can.
You do that by reaching them faster and more proficiently
than anyone else.
#10. Remain consistent and always
try new marketing media delivery methods. Don't worry
about perfecting the new delivery methods, just try them on
for size. Pretty soon you'll find a new fit.
Take
Action!
Greg Bell, President
Marketing To Find
Motivated Sellers - Part 1
Hello REITC Club Members and Friends,
In any business the most important
thing is customers and clients. Many investors get started
in the real estate investing business because they crave the
big paydays and residual cash flow. But many would-be
investors stop just short of bringing in leads for motivated
sellers because they lack one major thing.
What is that one missing ingredient that causes so many
ships to crash and burn?
It is none other than Marketing...
Now, before I share the Marketing strategies, let's look at
what causes a seller to become motivated. In other words,
why are they selling and what are their motivating factors.
Here are the top 10 motivating
factors. Keep in mind that there can be other
motivating factors, however, these are the ones that I
consider to be among the Top 10. Here they are:
1. Divorce
2. Job Loss / Can't Afford
3. Death
4. Relocating
5. Tired Landlord
6. Inheritance (Probate)
7. Behind On Mortgage Payments
8. Fire Damage
9. Other Repairs
10. Behind On Taxes
Let me show you how to increase
your profitability through the utilization of 10 simple and
proven strategies you can use to make more money as a real
estate investor through effectively locating motivated
sellers by using these proven marketing strategies.
Step 1. Know who
you're marketing to - Your Target Market.
You must know what's going on with
your client that causes them to desire your service.
You definitely want to hit on those hot buttons and show
them how you can help overcome their particular situation.
Example: If you are working on pre-foreclosures then your
message should speak to people who are behind on their
payments.
Step 2. You must have
a USP - Unique Selling Proposition - Your Message.
What is unique about you and your
business. Your marketing message should differentiate
you from most everyone else in the marketplace. In
other words, don't try to be all things to all people.
You should carve out a niche area that you can perfect and
become the best at.
Example: Stop Foreclosure & Save Your Credit
Step 3. Identify a way
for your clients to learn about you - Marketing Medium.
In marketing, you must put your
message in front of your prospective clients on a regular
basis, so that they will think of you when they are ready to
take action to solve their problem. Example:
Postcards, Newspaper, Internet, etc.
Step 4. Implementation -
Getting Your Marketing Out
After you've completed steps 1, 2,
and 3 you must get your message out to your target market.
Of course, this seems like the most obvious step.
However, it is the step that trips up most would-be real
estate investors and business owners. You will find
out what works best as you get going. Some things will
work better than others. Your goal should be to
implement at least one marketing medium at a time. You
can add new components as you progress. The key is
getting started immediately taking action and learning from
your tests.
Step 5. Repetition &
Follow up - Stay In Front of Your Marketplace Audience
You will find that the longer you
keep your marketing message in front of your client base,
the more motivated sellers will be in contact with you.
Eventually you will have so many motivated sellers calling
you, that you will have to start turning sellers away.
You will only deal with the truly
motivated seller. Because actually, as an investor,
you cannot help every seller in the marketplace.
You should only pursue the deals where the seller is truly
motivated and the deal makes sense financially.
Stay tuned for part 2 next month
when I will show you how to semi-automate your marketing
processes. If you would like to get coaching and
mentoring in your real estate business be sure to contact us
for classes and one-on-one training programs.
To apply for training simply send
an email to greg@reitc.com
and include your name, city and contact phone number(s) and
someone will be in touch with you to explain the training &
mentoring programs.
JUST DO IT! -Nike
See you at the
meeting, Do It!
Greg Bell, President
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