The Maestro is about to drop some knowledge on ya. Look, if I were just starting my new real estate wholesaling business, I’d start off exactly like this. This is important, so take your eyes off of the TV for a second and pay attention.
1. Find Your City’s Wholesale Real Estate Buyers
I know, I know. Sounds easy, right? Uh… hold on a sec, my friend. Look, just because something seems easy, doesn’t mean it will be. If you want to find out who is buying up wholesale real estate in your area, you need to be proactive and aggressive. They’re not exactly going to be kicking your door down. You need to get out there and find them…
Here is what you do… first. One, get on the horn and buy yourself 100 blank, white, 24 x’ bandit signs, with metal stakes. These are available all over the web. Just Google “blank bandit signs.” My recommendation? Contact whichever company you choose by phone. I get my signs from Sign Warehouse (signwarehouse.com). And speaking to a sales rep sometimes has perks, like discounts and/or free shipping. My rep, Stephanie Johnston, used to hook me up all the time. she’s the best.
Ok, you’re 100 blank bandit signs have arrived. Now, take 30 out, and write this on them:
$.30 on the dollar! must sell now!! (local # from patlive.com)
Heck, if you wanted to put 50 out, that would be just fine. Why $.30 on the dollar? Because that’s a really, really good deal… in most parts of the country. Now, if you live in parts of Michigan or Ohio, that may not work for you. But, for just about every other locale in the U.S., it will. And like gold…
Why use a local phone number from patlive.com? Because it’s untraceable, and in most American cities, bandit signs are illegal. And, unless you want your city’s local code enforcement calling you, you better have an untraceable number. Trust me, they won’t be calling to buy your property. They’ll be calling to threaten, and possibly issue, fines. But, they can’t fine what they can’t find. And patlive.com works like a charm.
Ok, so you have your 30 signs out marketing a fictitious property for sale. What do you do next? You wait for the phone to ring. And ring, it will. What, you don’t think 30 bandit signs will make your phone ring? It will if you’re advertising a deal for $.30 on the dollar. Believe me. Would you call if you saw a sign like that? I sure would. Only a dummy would pass on something that amazing…
Ok, they call, get your voice mail and leave you a message. You call back and say…
“Hello Mr. Buyer. This is Mr. Seller. I just got your message. Believe it or not, one hour after putting those bandit signs out, I received a contract on the property and a deposit. I mean, I was actually fielding calls while I was still putting the signs out! However, as soon as I get another great deal, which should be in the next week, or so, I’ll personally call you FIRST… before I send it out to my buyers. How does that sound? Cool. Let me get your contact info, and I’ll be in touch. Welcome to my VIP buyers list.”
And that’s how it’s done.
“But Maestro, 30 signs won’t generate that many calls. I’ve used bandit signs before and they didn’t work.”
Uh, try them again. And, what I just told you to do, didn’t just get pulled from the air. It’s a tactic I use with my students… and not because it doesn’t work. Have faith, grasshopper.
Ok, so you’ve got a bunch of new buyers on your short, but active, buyers list. BTW, all you need is 5 to 10 serious, active, experienced, cash buyers. That’s all. And you should know these people intimately. The rest of the lookie-lou’s you put in an email database and blast to when you get a property that your real buyers pass on…. hoping one pulls the trigger.
Now, jump on the web and find your local real estate investment association (REIA). Here in Tampa, we have two, TBREIA and SREIA, and both are huge. Find one that meets close to your house and go to a meeting. I don’t think you have to be a member to attend, but you’ll only have to pay like $5, most likely. Make sure you use the time after the meeting is over to shake hands, exchange business cards and express your interest in finding cash buyers. And, if you enjoy your experience and believe it will benefit you, join the group and become a member. Again, it’s not that expensive.
Success Tip 1
We’re in this business to make a lot of money.
Success Tip 2
If you meet a wholesaler who has active buyers, take his card or contact information because you may be using him in the future to move a property. It’s easy money for him.
Success Tip 3
If you have active, reliable buyers, other wholesalers will now come to you. Brokering the sale of a wholesale property is an easy way to make some nice dough…
Success Tip 4
Remember success tip 1… always.
So, you ask, what do I do with the other 70 blank bandit signs?
2. You locate your city’s distressed sellers, contract to buy their house and bring it to your VIP buyers.
Well, you’ve got the buyers, now it’s time to bring them some deals. Take those 70 signs and write this on them:
I’ll buy your house CASH! (patlive.com number)
Make sure you have two local numbers. Some use one number, with two options. But, I’m not a huge fan. I like the two-number system, better.
Remember, placement is important. You want tons of eyes on these signs, but you also want to place them in areas you want to buy. Find places that match those two criteria and stick them in the ground. Make sure they are at places where cars stop. No highway medians.
And while you are fielding leads from those 70 signs, you should be thinking of more ways to find buyer and deals. However, what I just described to you will definitely give your business a kick in the pants right off the bat. It will give you tons of momentum. And momentum is HUGE in wholesaling. If you’re lazy… it will become habit. If you’re aggressive… that will become habit, also. And, the money you make will become addictive.
Trust me… grasshopper.
Andrew Massaro is the country’s top wholesale real estate coach to the new investor. For coaching services, visit http://tinyurl.com/ygf97l7. He is also the author of the wildly successful e-book, Quick Flips and Fast Cash real estate investing.
If I Were Just Starting My Real Estate Wholesaling Business
The Maestro is about to drop some knowledge on ya. Look, if I were just starting my new real estate wholesaling business, I’d start off exactly like this. This is important, so take your eyes off of the TV for a second and pay attention.
1. Find Your City’s Wholesale Real Estate Buyers
I know, I know. Sounds easy, right? Uh… hold on a sec, my friend. Look, just because something seems easy, doesn’t mean it will be. If you want to find out who is buying up wholesale real estate in your area, you need to be proactive and aggressive. They’re not exactly going to be kicking your door down. You need to get out there and find them…
Here is what you do… first. One, get on the horn and buy yourself 100 blank, white, 24 x’ bandit signs, with metal stakes. These are available all over the web. Just Google “blank bandit signs.” My recommendation? Contact whichever company you choose by phone. I get my signs from Sign Warehouse (signwarehouse.com). And speaking to a sales rep sometimes has perks, like discounts and/or free shipping. My rep, Stephanie Johnston, used to hook me up all the time. she’s the best.
Ok, you’re 100 blank bandit signs have arrived. Now, take 30 out, and write this on them:
$.30 on the dollar! must sell now!! (local # from patlive.com)
Heck, if you wanted to put 50 out, that would be just fine. Why $.30 on the dollar? Because that’s a really, really good deal… in most parts of the country. Now, if you live in parts of Michigan or Ohio, that may not work for you. But, for just about every other locale in the U.S., it will. And like gold…
Why use a local phone number from patlive.com? Because it’s untraceable, and in most American cities, bandit signs are illegal. And, unless you want your city’s local code enforcement calling you, you better have an untraceable number. Trust me, they won’t be calling to buy your property. They’ll be calling to threaten, and possibly issue, fines. But, they can’t fine what they can’t find. And patlive.com works like a charm.
Ok, so you have your 30 signs out marketing a fictitious property for sale. What do you do next? You wait for the phone to ring. And ring, it will. What, you don’t think 30 bandit signs will make your phone ring? It will if you’re advertising a deal for $.30 on the dollar. Believe me. Would you call if you saw a sign like that? I sure would. Only a dummy would pass on something that amazing…
Ok, they call, get your voice mail and leave you a message. You call back and say…
“Hello Mr. Buyer. This is Mr. Seller. I just got your message. Believe it or not, one hour after putting those bandit signs out, I received a contract on the property and a deposit. I mean, I was actually fielding calls while I was still putting the signs out! However, as soon as I get another great deal, which should be in the next week, or so, I’ll personally call you FIRST… before I send it out to my buyers. How does that sound? Cool. Let me get your contact info, and I’ll be in touch. Welcome to my VIP buyers list.”
And that’s how it’s done.
“But Maestro, 30 signs won’t generate that many calls. I’ve used bandit signs before and they didn’t work.”
Uh, try them again. And, what I just told you to do, didn’t just get pulled from the air. It’s a tactic I use with my students… and not because it doesn’t work. Have faith, grasshopper.
Ok, so you’ve got a bunch of new buyers on your short, but active, buyers list. BTW, all you need is 5 to 10 serious, active, experienced, cash buyers. That’s all. And you should know these people intimately. The rest of the lookie-lou’s you put in an email database and blast to when you get a property that your real buyers pass on…. hoping one pulls the trigger.
Now, jump on the web and find your local real estate investment association (REIA). Here in Tampa, we have two, TBREIA and SREIA, and both are huge. Find one that meets close to your house and go to a meeting. I don’t think you have to be a member to attend, but you’ll only have to pay like $5, most likely. Make sure you use the time after the meeting is over to shake hands, exchange business cards and express your interest in finding cash buyers. And, if you enjoy your experience and believe it will benefit you, join the group and become a member. Again, it’s not that expensive.
Success Tip 1
We’re in this business to make a lot of money.
Success Tip 2
If you meet a wholesaler who has active buyers, take his card or contact information because you may be using him in the future to move a property. It’s easy money for him.
Success Tip 3
If you have active, reliable buyers, other wholesalers will now come to you. Brokering the sale of a wholesale property is an easy way to make some nice dough…
Success Tip 4
Remember success tip 1… always.
So, you ask, what do I do with the other 70 blank bandit signs?
2. You locate your city’s distressed sellers, contract to buy their house and bring it to your VIP buyers.
Well, you’ve got the buyers, now it’s time to bring them some deals. Take those 70 signs and write this on them:
I’ll buy your house CASH! (patlive.com number)
Make sure you have two local numbers. Some use one number, with two options. But, I’m not a huge fan. I like the two-number system, better.
Remember, placement is important. You want tons of eyes on these signs, but you also want to place them in areas you want to buy. Find places that match those two criteria and stick them in the ground. Make sure they are at places where cars stop. No highway medians.
And while you are fielding leads from those 70 signs, you should be thinking of more ways to find buyer and deals. However, what I just described to you will definitely give your business a kick in the pants right off the bat. It will give you tons of momentum. And momentum is HUGE in wholesaling. If you’re lazy… it will become habit. If you’re aggressive… that will become habit, also. And, the money you make will become addictive.
Trust me… grasshopper.
Andrew Massaro is the country’s top wholesale real estate coach to the new investor. For coaching services, visit http://tinyurl.com/ygf97l7. He is also the author of the wildly successful e-book, Quick Flips and Fast Cash real estate investing.
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