How to Make $10,000 in the Next 30 Days Flipping Houses!

So this headline is the candy coated poison that allows just about every self proclaimed real estate GURU to get their hooks into real estate newbies everywhere…..but even with that said it sums up the point of this blog post as well as anything. The only difference is at this point I really don’t have anything to gain financially by giving you this information, so this isn’t me just giving you a teaser article hoping to then sell you a $995 product so you can get all the real info. You see the honest truth is anyone who is actually doing real estate right now is probably not putting that much time into the education and coaching side of their business (like myself). The reason being is that this is the absolute best market any of us Real Estate Pro’s have ever seen to make money…..and I mean big money actually doing real estate. I had intentions of having our mentoring program set up at this point (along with a Podcast which is still coming by the way), but the deals we are finding and the money we are making just doing real estate is so insane right now I just cant justify not focusing as much of my time as possible on investing. With that said I still plan on rolling out our 1 on 1 mentor program, a great marketing product along with the podcast shortly, but for the next few months I am going to keep my focus purely on buying and selling real estate. Now check out this video and then finish reading the article!

So now that I have gotten that off my chest lets get into the nuts and bolts of this article so that you can start taking advantage of this amazing market!

The honest truth is that if you have a proven formula to follow, making 10K pretty much on demand is not that difficult in real estate. If however you are not following a proven formula then this goal of 10K in 30 days would seem near impossible, which is why most people will never be able to do this. I am not trying to deter you by any means, but rather I am just being honest about the fact that you need to take action….and the right kind of action to make this happen. I remember when I first started investing in real estate I always wondered what is it that those highly successful investors see that I don’t when looking at a particular house or a market…..well now almost 10 years later I can say the answer to that questions is A LOT! This business is really very simple when it comes down to it, but at the same time its also very difficult…..and the difficult part is not only figuring out what action needs to be taken, but following through and continually taking that action needed to produce results. So below is simple step by step instructions on how to make 10K in the next 30 days in this business wholesaling houses!

1. Find and build relationships with “real” cash buyers in your market. The best way to find the true players in your market is to first look and see who has the biggest online presence. Second is to figure out who is buying properties at the auction on a regular basis. These two sources alone will give you all the buyers your wholesale business will ever need during your first year in business. There is no need to do large mailers or anything like that…..you only need to find a couple real buyers to run a hugely successful wholesale business. Once you find out who these people are then just call them up and talk to them…..introduce yourself, find out what type of properties they like to buy, neighborhoods and price points they focus on. Once you have this information now you have an order to fill and a buyer that is ready and willing when you find a deal. Right now deals are not as easy to find as they have been in the past few years, so selling a deal to any of these types of buyers for a nice profit will be a walk in the park……the hard part is going to be finding the deal.

2. Now that you have relationships built with some “real” cash buyers in your market and you know what they like to buy, its time to go find a deal. If you are just starting out then you are going to need to learn the area’s that your new buyers like to buy in. So in order to find them a deal I suggest that you utilize the Driving for Dollars Strategy. This strategy will only cost you your time and a little bit of gas money, so everyone should be able to afford to utilize it. Now you need to drive every street in your buyers¬† target areas and write down every address that looks like it needs work, looks very outdated, or looks like old people live there (old school Buick in the driveway, ramp up to the front door, ect). The idea here is to create a large custom list of properties that you will use to market to on a continual basis. You may get a deal or two on the first couple mailings, but you need to make sure to continue mailing this list over and over again. That way when when someone is ready to sell they will contact you first. The key is to catch people at the right time, so this may happen on your first mailing, or it may happen on your 3rd…..but the point is you have to be visible and relevant to the seller when they decide its time to sell.

3. Once you have created your custom list you now need to research every property and figure out who owns it and where they live. If they don’t live at the property then you need to know that information because you will send your marketing piece to where they actually live. I normally utilize Excel to create and update all of my Driving for Dollars lists, so I would suggest that you do the same.

4. Now that you have all of these leads you need to get some marketing out the door ASAP in order to get a response from the owners of these properties. I would suggest that you send every person on this list a standard Yellow Letter so that your response rate is as high as possible. This will help to ensure that you have the best chance possible to put together a deal within a 30 day window. You can write these letters yourself in an afternoon (about 8-10 an hour is what my letter writer can write). This way its again only costs you your time and a little $ on for supplies.

5. Mail to the same list every two weeks (at least for the first couple letters). This will get the owners attention and get you a lot more calls since it will be hard to ignore your message. Then continue to mail the list ever 30 days for the remainder of the year or until people either call and sell you their house or ask to be removed from the list. If they ask to be removed from the list, then use this as an opportunity to talk with them and remind them to call you if they ever decide they want to sell. Please keep in mind that some people can get a bit ridiculous when you send them letters asking to buy their house…..DO NOT let this deter you! Its part of the game and all of us who market on a regular basis deal with it, so you are not alone. Just accept the fact that you will get some not so nice phone calls and continue taking action.

6. Once the calls start coming in you need to start getting your hustle on! This is where the money is made my friends, and this is what separates the men from the boys. You need to talk to every single person that calls (whether good or bad ) in order to try and put a deal together. Rarely is a deal made on the first call, so you need to talk with people, set appointments, go see the property, build re-pore, talk some more, make offers, follow up on the offers you made and then sign up a deal! This is the hard part that very few people can do effectively and consistently, so if you can get good at this part the sky is the limit for you and your business! This is the only difference between being mediocre and being great in this business…..almost everyone can do steps 1 through 5, but very few get good at step 6.

So there it is…..This is the recipe to create large amounts of money out of thin air wholesaling real estate, and I’m talking about some potentially life changing amounts of money! Although the recipe is simple, its the application and follow through that will be the difficult part. The questions you have to ask yourself is how bad to you want the money and how bad do you want to be great? I know what what my answer is to that question…..do you? Now get out there and start following these six steps so that you can put a big five figure paycheck into your bank account before the end of January!

How to Start A House Flipping Business: Part 3 of 3!

We have had a great response so far with the previous two articles that lay out the steps necessary to build a house flipping business from the ground up. So in order to raise the bar even higher in the third part of the series, I am going to be giving away TONS of extremely valuable and FREE information on how to build your own successful house flipping business!

Make sure to watch the video before finishing the Article!!

In the last article I gave you a couple strategies that you could put to work in order to generate leads for your real estate business. Although those lead sources (probates and driving for dollars) are great and everyone should be taking advantage of them, you always need to be looking to grow your business and your marketing reach! The key to building your marketing machine is to become very good at one niche and then move onto the next (while continuing to use and master the previous niche’s). So in this article I am going to go through the next steps you need to take in order to become the player in your market that everyone aspires to be.

So now that you have started to implement a couple marketing campaigns on a consistent basis (probates and driving for dollars), now its time to take it up a notch and start to increase the number of marketing campaigns you are running at any given time. To help you accomplish this my suggestions would be to do one of two things that will help you grow your business: The first would be to hire a marketing manager to help keep your direct mail consistent, organized and effective: Or the alternative would be to outsource all the mailings along with the lead follow up process. This would entail using a direct mail service provider to send out all of your yellow letters, postcards, ect. and then hire a virtual assistant to process all of the leads and follow up with the potential motivated sellers that contact you. I personally don’t care to use virtual assistants because I have a physical office space that my team and I work out of…..that and I am all about building my business with long term people who can actually go out and view properties and make offers for me. There is something to be said for having your team working along side you every day as apposed to half way around the world (which apparently doesn’t sell so GURUS fail to make this point). If however hiring virtual assistants works better for your current situation then go for it……its absolutely better to get help of some kind to grow your business than none at all. Also mailing houses that can prep and mail all of your marketing can be extremely helpful when you are opperating as a one man band. In order to really make it big in this business you MUST build a team of people working for you everyday…..whether that be as employee’s, independent contractors or virtual assistants. The only difference between making 100K a year and 1 million a year in this business is being consistent with your marketing and having a team to help you increase your marketing reach.

So lets re-cap the important points I am trying to make……as you grow you are going to need help, so find a local team member or a virtual assistant. Also you need to always be expanding your marketing reach and number of campaigns you are running at any given time. Always be testing new direct mail marketing campaigns for motivated sellers along with the marketing piece you are sending them. Marketing is a never ending process that you continue to improve and not just a task that you can check off your list. Lastly look to expand your marketing online by utilizing SEO and pay-per-click as your marketing budget increases…..we generate a large number of GREAT leads each year online. The best part about those kinds of leads is that they have already been pre-qualified and are ready to do business with you! This would first require that you create a website for for sellers to learn about your services, so make sure to make this a priority before expanding online.

Let me be very clear though before continuing on; If you do not learn how to market for sellers your business will soon die a slow death. Those investors who simply rely on Auctions, Realtors and MLS for deals are going to have a real hard time moving forward. This is because as the market continues to improve more and more people are going to jump into this great business, so the amount you have to pay for any of those deals will continue to go up. The super successful investor in this new market will be those who can consistently source deals directly from homeowners.

Now before we wrap up this article lets look at what additional marketing campaigns you should start running as your business grows. One of the more publicized ones is Absentee Owners. I would say these are a good source, but you will need to mail a large number of them on a consistant basis before you will see results. Another good campaign would be older homeowners with large amounts of equity in their homes. The idea here is that you catch someone at a time when they are looking to downsize or move into assisted living……and when you do catch them it can mean BIG checks for you. Lastly you need to create an online presence and learn to market your business on the old internet. The best ways to generate leads initially with this niche is going to be through pay per click campaigns, but I would suggest you hire the help of a professional when you are getting started. If you don’t know what you are doing it can cost you a lot of money in testing and tweaking.

I could probably write a small novel on how to run each of these campaigns, but the point of this article was to open your eyes to what you should be doing to grow your business. If anyone has additional questions about any of these campaigns then please feel free to post on our facebook page and I would be happy to answer the questions for all to see www.facebook.com/MyInvestingMentor

 

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