It’s one of the most bizarre phenomenons that continues to fascinate me about the business of real estate investing.
As an investor who specializes in buying and selling vacant land – I send A LOT of laughably low-ball offers to people on a pretty regular basis.
Given that I usually have to send out an average of 8 – 12 offers (sometimes more) for every single acceptance I get, it takes a lot of stamina to go through these motions, over and over again.
Nevertheless, sending out gobs of low offers is just a central component of my business and without the ability to keep repeating this process, things would slow down pretty quickly. I mean, let’s face it – if you’re expecting to buy a property for a small fraction of market value, it ain’t gonna happen without sending out a lot of ridiculous, low-ball offers (and hearing the word “No” a lot).
It’s a pretty basic thing, really. But even though it’s a simple concept for investors like you and me, most of the property owners who receive my offers still have a tendency to be shocked and appalled when they see my number. [click to continue…]
“I wish there were more hours in the day”.
Yes, the constant refrain from entrepreneurs around the globe.
The to-do list gets longer, the deadlines get closer. It’s not that you can’t handle it, but it seems like this is happening every month.
So what’s a real estate investor to do?
It All Boils Down To Focus & Prioritization
Let’s start with Prioritization, because we need to check this box before we know what to focus on.
There’s tens of thousands of stimuli vying for your attention every moment of your day and as you’ve no doubt seen, you’re NEVER finished. The to-do list is never ‘complete’. [click to continue…]
Today I wanted to cover some Real Estate Investing 101 material that I think a lot of people need a refresher on.
Most of these things are fairly “entry-level” in nature, and most of us probably already understand and agree with them… but for one reason or another, these concepts tend to get lost in the shuffle of our daily lives and people break these rules all the time (including me, believe it or not).
Whenever human emotion comes into play, a lot of people start doing some really dumb things (after all – emotions have never been the best decision maker). None of us are immune to it, so as a way to combat this kind of behavior, I thought it would be wise to establish some ground rules.
As we dive in, I want you to ask yourself – do you agree with this stuff? If so – are you actually following these principles? [click to continue…]
Vivid images linger in the mind for several days and influence the decisions made by real estate buyers. Wherever the buyers go, the photos remain etched in their minds and continue to excite their feelings and aspirations. In meticulously taken real estate photos, the best of the property comes to light. Therefore, good photos help real estate investors capture the attention of their target buyers and sell their homes quickly. On the contrary, property owners who cannot display the best images of their homes will have no inquiries (and no clients coming to view their property). [click to continue…]
A lot of new real estate investors get VERY excited when they realize how powerful a direct mail campaign can be.
It’s true – finding great deals can be exponentially easier once you start communicating with the right people in the right way (and in large enough numbers).
When most proactive investors figure this out – they tend to spring into action and start sending mail all over the place in a whirlwind of excitement (I’ve seen it happen time and time again). It’s great to see a beginner being proactive like this, but at the same time – it’s very easy to let the cart get ahead of the horse.
When you’re putting together your first direct mail campaign – there is one thing you NEED to have nailed down before you drop those postcards in the mail.
When the Calls Start Coming In…
The first time I sent out a direct mail campaign – I actually got kind of freaked out when the first person called me (even though they were doing exactly what I asked them to do). A flurry of thoughts went through my mind… [click to continue…]