REI Marketing Tips

We have arranged for 2 final replays for Coach Pat’s “Cash For Keys” system.

Replay #1 will be Tuesday, Dec 16th at 6pm PST/9pm EST.
You can access it here:

https://www2.gotomeeting.com/register/870565151

Replay #2 will be Thursday, Dec 18th at 5pm PST/8pm EST.
You can access it here:

https://www2.gotomeeting.com/register/986099621

Unfortunately this will be it for replays on this
incredible webinar.

Coach Pat showed us how we can make money on all of our
dead short sale files.

He makes it so simple!

Some of you asked about a recap of the bonus package that Coach Pat put together. Here it is:

1. FREE Boot Camp…Real Estate Cash Now Strategies
In sunny tropical Tampa Florida for Spring Break March 13,14 and 15

2. Joint Venture Trophy Bonus
Joint Venture with Coach Pat…No fee’s to submit deals

3. Inner Circle Mastermind Coaching 2 FREE sessions (90 minutes)

4. FREE investors website with FREE monthly hosting
FREE support staff to hand walk you through to place your information on your new website and get it up and running.

Here are the add on bonuses:

• Realtors Secret Weapon Genius Marketing Piece
• Terms and Conditions for Realtors to sell our short sale properties
• Private transactional funding for short sale flips
• Access to my title company for nationwide closings that specialize in short sale closings
• Short Sale forms disk
• Training DVD showing Coach Pat closing a short sale deal getting the actual short sale package signed and notarized with live distressed homeowners at the attorney’s title company office

Don’t forget that this comes with Coach Pat’s unconditional 14 day money back guaranatee.

Again, here is replay info, with only 2 more chances as I type this:

Replay #1 will be Tuesday, Dec 16th at 6pm PST/9pm EST.
You can access it here:

https://www2.gotomeeting.com/register/870565151

Replay #2 will be Thursday, Dec 18th at 5pm PST/8pm EST.
You can access it here:

https://www2.gotomeeting.com/register/870565151

Good luck with your investing, and be sure to post a comment once you have Coach Pat’s system, and let us know what you think.

For most real estate investors their intention for buying a property is to improve it and sell it as soon as possible. In the perfect scenario the home would be in pristine shape, ready to sell, and nothing in the way of improvements necessary. Ask any experienced real estate investor and they will quickly tell you that almost every home they buy requires some measure of improvement to make it ready to sell. Whether it’s a quick coat of paint to give it curb appeal or a major remodeling a remodeling contractor often is the key to success with home improvement projects.  It is important to understand the difference between a contractor and a handyman. Many handymen will represent themselves as remodelers but lack the skills do all the tasks sometimes required to do the work. Most handymen don’t have a contractor’s license as it is not required in most states. A bona-fide remodeling contractor is fully licensed by their state of residence and should be able to handle all aspects of a home improvement project or supervise those completing some tasks. These include, but are not limited to – carpentry, electrical, and plumbing.Real estate investors need to do some footwork before hiring a contractor.

Finding a contractor is fairly easy, but finding the right one to work for you requires some due diligence. A good place to start your search is through professional organizations, the Better Business Bureau, and the state itself. One effective trick is to talk to the local home improvement centers to see if they would recommend any local contractors. Once you have contacted several contractors you should ensure they have the basic credentials. Are they licensed with the state? This gives you some extra clout should it come to dealing with any problems with the contractor that may arise. Some questions you might want ask:

1. Will the time frame for your project fit into their time schedule?
2. How much liability insurance coverage do they carry?
3. Do they have Workers Comp?
4. Can they provide you with references of home owners who are satisfied customers?
5. How soon can they get started?
6. Would they be willing to work in other locations away from their hometown?

These are basic screening questions only. As you get further into the hiring process more questions will arise.Once you have narrowed down your choices to two or three candidates ask them to give you an estimate for the job in question if at all possible. Even if you don’t yet own the home they should be able to access the property information online.

Once you have received all of the estimates take the time to compare them. Remember that cheapest isn’t necessarily the best way to go. Compare estimated time for completion, supply costs, and labor prices. Meet with the contractors again to discuss their estimates if needed. Also do not let anyone try to persuade you to sign any agreement before you are ready. You can become successful in real estate investing by being well informed, taking the time to completely research your remodeling options, and getting other opinions if necessary you will be able to confidently choose the contractor that will do the best possible job for you.

The advent and explosive growth of the Internet has created countless marketing opportunities for the real estate investor. One overlooked, “old fashioned” method for marketing is being underutilized by new and seasoned real estate investors alike is the use of direct mail. A successful marketing campaign should include a recurring direct mail strategy.

How Do You Implement An Effective Direct Mail Campaign?

Before you put the first word on paper you must do some careful planning. The idea is to organize your direct mail marketing plan to give yourself the best chance to effectively reach as many motivated sellers as you can manage. Grab some paper and pencil and start by answering the following questions:

Who is my target market?

You have to understand what type of prospect you are going after. There are countless ways to make money in real estate and finding the right prospects with direct mail means your message should reflect the target market you are seeking. For example if you are focusing on single-family homes in pre-foreclosure then your message shouldn’t also include information you also buy tax lien foreclosures. Your prospect needs to feel you understand their situation and are speaking directly to them through your direct mail marketing piece.

Where Do I Get A List To Mail To.

Most mailing lists are worthless. Read that first sentence again and let it sink into your brain. There are countless list providers out there selling lists that are outdated and non-specific. Too many times real estate investors get caught spending thousands of dollars on a mailing list that produces nothing after all their hard work and money has been invested. Too late they discover the information is woefully out of date and inaccurate. Finding a reputable list provider will take some time and testing. Yes, you are going to have to test your mailings and a reputable company should allow you sufficient time to test their list. The best companies will ask you for a small deposit up front and once you are satisfied pay the balance. What Should I Mail And Is What Are Some Tricks I Can Use To Make It More Effective?

If you were to poll successful real estate investors on how they put together their direct mail campaigns and more importantly what tactics are they using it likely their “check-off list” would contain the following must do items:

• A well-written letter that clearly states what your intention is. You are in the business to make money. Buying houses for cash or retail isn’t considered creative real estate investing. You have to let your letter pre-screen potential sellers. Let them know your conditions and that if they are willing to be flexible it may be possible to close the deal in as little as 48 hours. Remember, you are looking for quality versus quantity.
• A postcard designed to let the seller know what is in it for them. You must get them excited, let them know what you can do for them, and what you can truthfully say to get them to believe you can help. Designing the postcard is a topic for another article as it is an art unto itself, but unless you have the time to create your own postcard I suggest you outsource this task.
• Make the mailing personal by handwriting their name and address on the outside of the envelope. How many times have you tossed without looking mail pieces that had your name and address stamped on them? How many of you would open a letter with your name and address hand-written, even it was from a complete stranger?
• Use unique stamps. I can only speak for myself that every time I look through my mail I notice stamps that stand out from the others.
• NEVER stop at just one mailing. If you have gone to the expense of purchasing a prospect list you owe it to yourself to exhaust all possibilities of marketing to it. It is infinitely better, and economically smarter, to send a letter or postcard five times to a thousand people than to send one letter to five thousand only once. You will likely get the most responses from your first mailing but often it takes more persistence to get through to some prospects.

If you plan on being successful at real estate investing you should harbor no doubts that it costs substantial amounts of money to initiate and maintain an effective direct mail campaign. When you put together the cost of postage, letter printing, postcards, envelopes, postage it adds up fast. The wise investor includes these costs in their marketing budget and understands this is an ongoing process.

Direct mail marketing is a creative real estate investing strategy that must be part of your overall campaign. Considered by some to be old fashioned” it remains one of the best ways for locating motivated sellers. Your goal is to find truly profitable deals and the means you go about doing this are contingent upon your target market, quality of the mailing contact, multiple messages to same contact, pre-screening ability, and finally your commitment to direct mail and an investment in your real estate business. Be organized and focused in your direct mail campaign and soon you too will be finding all the motivated sellers you can handle!

There are many facets in real estate investing and all have to be done successfully in order to turn a profit. Arguably the most important choice is the realtor you hire to handle your real estate transactions. The realtor is pivotal to the success or failure of a real estate investor so it pays to pick the right one for you.  

Time is of the essence in creative real estate investing, but not taking the time to find the right realtor to handle your real estate transactions could prove costly both in time wasted and money lost. Here are a few suggestions for choosing the right realtor. Following these can improve your chances of getting a better realtor and a better deal on your real estate transactions. 

Research, research, research! This point cannot be stressed enough. Taking the time to do your homework on the realtors in the area you intend to business will save you money and aggravation.  

Local knowledge of real estate market conditions is priceless. The right realtor can keep you in the flow of the real estate market changes and legalities. Pick the right realtor and you have access to this knowledge, thereby helping you make the best decisions.  

Start by contacting realtors in the area that you are interested in doing business. The fastest way to locate realtors is on the Web, yard signs, local Better Business Bureaus, and Board of Realtors to name a few. One of the best ways to find a good realtor is to visit your local Real Estate Investing Association or club, often known as a REIA.  Here, you’ll find many agents who have experience dealing with investors. 

You’ll also be able to get referrals from your peers, many of whom have faced the exact same hurdles as you are.  These referrals are often great, because many of them understand the nature of your business, especially if you’re involved in creative real estate investing. 

Once you have contacted and set up interviews it is a good idea to have some basic screening questions (tailored to your needs as a real estate investor) ready. Here are some sample questions:

1.      Can this realtor help you run comps and pull sales history from your local MLS?2.      If you are selling retail, see if you can get a discounted listing agreement from them.3.      Find out if they work on REOs.4.      What buyers/investors are they working with that they can send to you on your properties?5.      What experience does the realtor have working with real estate investors? Can you check references of some of the resent real estate transactions?6.      Will your realtor be dedicated to you? How quickly will they return your calls, and how much time do they have to handle your real estate transaction. 

Again these are just a few questions to get you started. As you become more experienced you will develop you own checklist. 

Once you have completed the interviews it’s time to sit down and review each realtor you spoke with. Consider all the facts. Which realtor(s) did you feel most comfortable with? Which were too aggressive or not aggressive enough? Which realtor gave each question careful consideration before answering? Which realtor was honest enough to admit it when they did not know the answer to a question? This is where your intuition will come into play. 

For those realtors making the final cut you will need to check for licenses, training and recognitions from the leading real estate departments in your area. These licenses provide some protection in the professionalism where the real estate realtor is concerned. 

You will also want to discuss with the realtor what their terms, conditions, and fees are the contract they will ask you to sign. Ask if their fees are negotiable. There are many things to consider in all this. 

Once you are satisfied it’s time to choose the right realtor for you. Successful real estate investing involves some of the most important decisions you will ever make. It is only prudent to have the most support possible to make the right decision.