In this episode of Escaping The Real Estate Investing Newbie Zone Chris Bruce talks about the do’s and don’ts of delegating tasks in your real estate business. As real estate investors and business owners we’re all looking to outsource and automate our business. However if you delegate to fast or delegate to the wrong people it can hurt your business instead of help it. So today you’ll discover the top things to delegate and who to outsource them to. You’ll also learn some tasks that’s better that you don’t outsource and continue to do yourself.
In this episode of Escaping The REI Newbie Zone Chris Bruce talks about targeting motivated sellers. It seems that every real estate investor is targeting the same seller. A lot of investors are seeing declines in their response rate to their marketing. Is it because the market is to competitive? Or is it because you’re targeting the wrong seller? Well could be a little bit of both and you’ll learn why in this new episode.
In this episode of Escaping The REI Newbie Zone Chris Bruce talks about the successes and failures in his house flipping business in 2017. Chris talks about what worked really good in marketing this past year. We talk direct mail campaigns, cold calling and a couple other marketing tactics. You’ll hear what we will be focusing on heavy in 2018 as well what we will be letting go. This podcast is all about year end review. No matter if you’re brand new to real estate or been in real estate for a while you’ll benefit from this episode.
Have a happy new year and see you in 2018.
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In this special episode of Escaping The REI Newbie Zone Podcast Chris answers the questions he’s been getting the most around this time of the year. Does the real estate market slow down in December? Should you slow down your marketing towards the last month of the year? The short answer is NO…
Their are still many of deals that will be closed in the month of December. In fact we are cranking up our marketing efforts in December. A lot of the big investors start to slow down and take vacation which gives us the chance to sneak and snag a few deals. Generally our biggest month of the year is December.
In this episode I talk about why this is the best month to ramp up your marketing or if you’re new get started. Lot of motivation from sellers and buyers in the month of December.
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In this episode of Escaping The REI Newbie Zone Chris Bruce talks about how to re-negotiate with a seller last minute. There are times when you may be off with price. Maybe you got the property under contract to high and you have a buyer that wants to pay around what you have the property under contract for what do you do? Well instead of giving up on the deal there are a few tactics you can use to re-negotiate. I talk about all of them and I how I used one of the tactics on a recent deal we completed.
In this episode of Escaping The REI Newbie Zone Chris Bruce reflects on some key takeaways he got from a marketing event he recently attended in Santa Barbara CA last week. We’re all conditioned to want immediate gratification but we need not to forget that overnight success can take 8 years. To many times we get caught up with other people success and feel like it should automatically happen that fast for us. That’s not always the case. So if you’re new to real estate understand you have to be willing to put in a lot of work to be successful.
Chris also talks about building your business one brick at a time. You can’t rush greatness it takes time. So everyday you should be focusing on that one or two things you can do to build your business up. Don’t only focus on the end result.
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Just in case you missed part 1 you can click the link below
The Final Strategy & Lead Source That Will Keep Your Phone Ringing With Motivated Sellers Daily
From: Chris Bruce
So are you ready to hear about the final strategy I use to get leads and more importantly deals from motivated sellers? Well first I want to say if you happened to miss the first part make sure you scroll up and click on the link above. I’m not going to waste to much time I’ll jump right in.
Now I must say I personally been using this strategy in my business for the past 10 months. It’s been working extremely well. I’ve even seen a few posts in a few groups of some of my past students have implemented this and they’ve done a few deals from it. The best thing about it is it doesn’t cost you a dime. You just have to be willing to pick up the phone.
If you guessed COLD CALLING… You’re 100% right.
Now their is a strategic way you must do this, so you don’t come off as a telemarketer. A lot of times homeowners will want to know how you go their phone number. We always tell them we have a research team who identifies vacant homes and finds the phone numbers for us. I have this well written out in my cold call script which you can get access to when you purchase our vacant leads today.
So you may be asking why do we target vacant leads when cold calling? Well there’s typically a higher probability of someone wanting or needing to sell a house that’s vacant vs one that’s occupied right? Plus when a house is vacant it usually needs a bunch of repairs, and the average homeowner just doesn’t have that type of money, time, or resources to fix the property up. Hence why they will sell it to us, and we will wholesale it for a quick fee.
How do you get the phone numbers?
Well let’s say you have a list of vacant homes already. What you’ll need to do is use some type of skip tracing software. Their are several websites that provide this service and I’ll list a few of them below.
You’ll take the property address or the tax owners mailing address and run it to search for a phone number. If you ever been late on a bill, yeah… the debt collectors have used one of these services to find your number and contact you about making that payment.
When you’re able to get in contact with the homeowner you’re just going to say, “Hey I saw your house come up on our list as a vacant home, I’m interested in buying, do you have a minute to talk? If they say yes, then you’ll continue asking the regular questions you would when talking to a private seller. This is what two of my staff members do in my office everyday. In fact we just used this strategy to get a deal under contract this past week.
Check out the campaign.
Here’s the message from my Acquisition Manager who met up with the homeowner and got the seller to accept our offer. I never even physically saw the property. We’ll make around #25k wholetailing this property on the MLS.
Yes this deal came from our Vacant list and my assistant cold calling the homeowner. She said the reason why she wanted to do business with us because our assistant was so nice over the phone. She had received several postcards from other investors, but after getting our postcard and seeing a call from us, she wanted to do business with us.
Are you ready to start getting results like this?
Now you can go out and drive for dollars to find vacant homes, and hours using different skip tracing software to locate the sellers phone number. No doubt about it, it will work eventually. Or you can do the smart thing, and save tons of time and money by investing in yourself and business and purchasing vacant leads, which will come with our cold call scripts, our direct mail domination training, and postcards, contracts, etc.
If you’re a beginner this is the fastest way to get that first deal under your belt. Now this deal won’t be along forever so make sure to act now.
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In this episode of Escaping The REI Newbie Zone Chris Bruce talks about running comps on properties when you don’t have access to MLS. Now in other episodes you’ve heard me talk about growing a relationship with a realtor for the sole purpose of being able to get the best comps in your market. MLS is still my go to when it comes to finding out what a house is worth and more importantly what I can offer the seller.
So what websites and resources can I use if I don’t have access? I talk about them on this episode. From Redfin, Zillow, to Trulia and a few other websites. You’ll get my strategy I use when buying a property to ensure I walk away with a profit.
Get access to free course by texting the word WHOLESALER to 33444
The Two Strategies & Lead Source That Will Keep Your Phone Ringing With Motivated Sellers Daily
From: Chris Bruce
The key to making money as a wholesaler is making offers. To increase your revenue you need to buy (aka contract if you’re a wholesaler) more houses. In order to make offers obviously you need a consistent flow of leads coming in daily. This is when marketing comes into play. People fail to realize as a real estate wholesaler you’re a marketer first. There are two strategies that I will be talking about in this post I use to keep leads coming in daily.
As you can see below
Now if you’ve listened to any of my 144 podcasts you’ve heard me mention direct mail being my #1 strategy I use to keep deals coming in every month. That’s still true today but in our office we do direct mail differently than most investors.
You see most GURU’s tell you go grab an absentee owners list from list source pick up some yellow notepad paper and get to writing out WE buy houses letters, stuff them in envelopes and drop them off in the mail. I use to do that about 7 years ago and did it consistently until it stopped working.
I typically got around a 1% response rate. I went from getting 23 calls in a weeks time to getting 6 calls a week. I had the slightest idea of what happened…
Why Did my call flow drop more than half?
One simple answer. COMPETITION…
As my local market Tampa started to be flooded with more investors and competition got deeper my call flow dropped. It became harder to find deals. My hand was also tired of writing so many damn letters. I needed to find a better and faster solution.
That’s when I was introduced to Click2mail by a friend on Facebook. Yes the service is just like it’s name. You can literally click a few buttons and your mail will be on the way to the persons house/office. So now that I finally found a faster way to send mail I needed to get more mail out at a cheaper cost. Letters can get expensive with the cost at a $1 a piece.
That’s when I started to test postcards… And the results from this was nothing shorter than amazing.
Let’s talk cost first, on click2mail the cost for postcards are around 42 cents a postcard this includes postage. So mailing to 500 people will only cost you around 200 and some change. Which if you compare it to letters you would spend around $500 and change to mail out. With letters you have to hope that the person who receives it opens the letter. Many people who receive letters look at the envelope and when the name on the envelope doesn’t look familiar they just end up tossing it in the trash. That’s a lot of waste on marketing dollars.
However with postcards it’s guaranteed they will see your message. That’s why I love to send out postcards when I’m marketing to sellers.
Ok so lets talk about the most important thing The elephant in the room.
Who the heck am I targeting?
After reviewing my direct mail campaigns over the past 18 months 92% of the houses I’ve bought and sold have been VACANT. Knowing these stats has helped me to start targeting with this filter of houses being vacant. You see when you target just absentee owners for instance. You end up getting a bunch of sellers calling angry because their house has a tenant in it, and their is no motivation to sell. They don’t even understand why you’re sending them a letter or postcard.
When a homeowner has a vacant house there’s more motivation to want to sell. First off their liable to lose their insurance on the house due to the property being vacant. It may be vacant for several reasons, they may have inherited the house, maybe their tenant just recently got evicted. Look at it like this, they have a house which probably needs a ton of repairs, and it’s just sitting there costing them taxes every year and not making them any money.
Here are some recent results from my campaign sent to vacant houses.
Now tomorrow I’ll continue to share with you the second strategy I use to find deals that doesn’t cost you any money. Can you guess what it is? I’ll reveal it tomorrow.
In this blog post I’m going to talk about one of the fastest and overlooked strategies to make cash in real estate. What I’m about to share with you will work if you’re Brand new to real estate, if you’ve done a deal or two, or even if you’re a seasoned investor. I remember when I first learned about this strategy I couldn’t believe more people wasn’t doing this. I was a little hesitant to even do this post because I don’t want to cause unwanted competition in my market. So make sure you read this post from top to the bottom. I may change my mind and take this down tomorrow.
So I don’t know about you but the courthouse has always been a place I tried to stay away from. From paying traffic tickets to jury duty I just dread going inside that building. Well that was my old way of thinking until I went in there and a couple weeks later turned that into $11,000. I’ll talk more about that later on. Wouldn’t it be cool to walk into a courthouse and in a couple weeks that visit turn into $11,000?
So let’s talk real estate for a minute for those that are new. The fastest and easiest way to make money is wholesaling. It doesn’t require a lot of time, and little to no capital to get started. I’m not going to go deep into this you can search around my blog to learn more about wholesaling if you’re unfamiliar of the process. As a wholesaler you become valuable knowing how to find good off market deals and then selling them to cash buyers.
Now of course their are several ways to find deals, from door knocking, putting up bandit signs, attending auctions, doing direct mail campaigns. Their are plenty of ways to skin a cat. The thing is most investors are thinking all the same. For instance in my market when it comes to direct mail, everyone and their mama is advertising to absentee owners who owned their property for 10 years or longer. So what does this do? It creates heavy competition, and it leaves the seller confused of who should they sell their house to with so many options.
Now you can find deals from mailing to absentee owners don’t get me wrong. However you need to spend 3x the amount to find these deals to out beat your competition. Or you end up having to pay higher than the other investor just to secure the deal. So what are you supposed to do when this happens? How can you find a targeted group of motivated sellers that everyone else isn’t going after?
You walk into the courthouse and ask for a special list. Now before I tell you what this list is let me give you a backstory. I remember when my grandfather passed back in 2001. It was a very sad day for my family especially my grandmother. At the time I was a junior in high school, and I remember my grandmother getting a letter from an investor. At the time I didn’t think about it, but it was someone offering condolences to our family and how he could help us out. Now at the time I didn’t understand what help he was offering.
It wasn’t until I discovered this secret niche of targeted sellers (Probates) back in 2010 where I finally realized what that guy had sent my grandma. He knew that since my grandfather died, she might not of wanted to live in the big house anymore and that he could buy it for cash. Now my grandma didn’t sell it because my dad stepped in and took care of the house and my grandmother. But lets say if my dad wasn’t there I’m sure she would’ve sold the house.
Fast forward to 2010 my very first off market deal (non mls deal) came from a similar letter I sent to a lady who had lost her mother. The crazy part was that the lady who received my letter was thanking me so much for reaching out to her. No one else had sent her any letters or postcards, and she was desperate to sell the house in Florida because she lived in New Jersey and couldn’t take care of it. This is when I realized I was on to something. Whenever I would mail out letters or postcards to a list I would always get people saying they are tired of me sending them mail every week.
Lol I would laugh because it could be the very first time I sent out a marketing piece to them. They would receive so many other letters and postcards from other investors interested in buying their house. It also had me wondering why other investors weren’t targeting these sellers. However obtaining the list wasn’t as easy as logging online to a website and just purchasing the list. Also the list brokers who did sell these list sold them for a insane price. $3-$4 for each lead… no thank you.
So how can you cash in on probate deals right now? Well first you got to understand the psychology of why this works so good. According to the United Nations 2,473,018 people die every single day in the United States. Unfortunately these people pass on debt, and houses to their loved ones to deal with. Most of the time their is no real emotional attachment to the property, and the family member or friend would rather sell it for quick cash to get it off their hands.
So A you could contract it, and then flip it wholesale to another buyer… Or B. you could buy it, fix it up and rent it out or put it back on the market to re-sell. Now many people will argue that the probate process just takes do damn long to deal with. Which isn’t true for all cases. Well that is if you know how to deal with them and use shortcuts. So what I decided to do was create a video to talk about this further. Also to prepare you of what’s happening in the market if you’re not aware of it yet. It’s kind of scary, but its the only way to financially prepare your family and yourself for the future.
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