Marketing Secrets, Wholesaling Lease Options
Free Marketing Tips!!
Someone emailed me and was somewhat discouraged about the lack of response they were getting from their marketing. I thought I would include my response here…
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I know it’s easy to get discouraged. All I can say is don’t give up! I am doing 3-5 deals a month, on average. I am doing approximately 80% cooperative assignments, 20% other types of wholesaling. Things were really slow for me in November and December, as far as finding buyers goes. I only sold 2 homes!
I did add a bunch of inventory. I have 22 homes on my website now, so I am expecting to start selling them soon at a pretty good clip. I also am still picking up deals from sellers. Just picked up 1 yesterday after only talking to the seller for 10 minutes. I haven’t even seen the house yet or met the seller.
The most important key I think is marketing, marketing, marketing. You can’t stop or lighten up on your marketing. What are the best forms of marketing for me right now?
1) Cold calls For Rent ads (craigslist, newspaper, etc)
2) Emails to Craigslist For Rent ads
3) Text messaging For Rent ads
4) Voice blast For Rent ads
5) Referrals – (I get probably 25% of my deals from referrals)
Just yesterday, I emailed 8 houses and sent text messages to 12 others. I picked up 1, maybe 2, deals. Not bad for 1 hour of work?
When you are talking to sellers, you have to be confident and know what you’re talking about. You almost have to play hard to get. I tell sellers that I can only help a limited number of sellers every month, and they need to get me their information as soon as possible to see if I can fit them in.
Also, my agreements are non-exclusive – so they can sell the house on their own if they want. I know there has been a lot of discussion about this lately, but I think it’s very important. I win a lot of deals because of this. Sellers often ask me “What’s the catch? It doesn’t cost me anything? I can cancel anytime?” I make it extremely difficult for them to say no. I probably only lose 10%-20% of my deals because the seller sold it first. It’s no fun, but it’s part of the business. You really need to focus on what’s in the best interest of the seller. When your sellers realize this, you will win more of their business.
So don’t give up. Ramp up your marketing! It’s all a numbers game. If you want more deals, do more marketing. If you don’t like making cold calls, hire someone to do it for you. Pay them $250 -$500 for every deal you buy. Practice your sales and negotiating skills.
If you want to do 3-5 deals a month, you should probably be talking to 5-10 sellers a day. And you will probably need 10-30 homes on your website. See how important marketing is?
Keep it up. Don’t be discouraged. I hope that helps…
Thank you for your advice you seem like a very genuine person .
Great stuff Joe! Thanks for sharing!
Joe, as a “newbie”, I appreciate your adivce. These are the kinds of information that we need to know! Your great for sharing these tid bits of wisdom. It helps to know you did it too! I am officially discouraged but in my head I know it’s a numbers game and I just have to perservere and keep picking up the phone to make that call. Thats why I’m came to your website today. I had looked through it earlier and knew some of these articles were here. I needed a few words of encouragement and someone to point a finger and say… I would go here or do this next for your marketing and then do it again! Thanks for that. Really, thank you!
Very cool… Glad I could help a little! – Joe
can you give a sample of your email scripts?
“Hi! I saw your ad on Craigslist. I was wondering if it was available for Rent-To-Own or Lease Purchase? Thanks! – Joe (555-555-5555)”
Seriously… that simple. Make sure the phone number goes directly to your cell phone – or somewhere they can reach a real person.
Thanks Joe this is so much help.
As far as the voice blasts go, what service do you prefer? Also, when you send out text messages do you always to it in tandem with voice blast or email?
Thanks,
Aaron
Hey, Aaron! I would love to tell you which voiceblast service I use, but I have to reserve my favorite tools for people who invest in the Wholesaling Lease Options system. Hope you can understand & appreciate that! I have a lot of really valuable, free content on this site. But there are some things I need to reserve or else no one would have any reason to buy! – Thanks
I totally understand..I actually really wanted to fill out your interview application for the course, but I am a full time student right now and don’t have a lot of time (and virtually no money
So, I have to be content learning solo for a little while I guess. Thanks for all you do.
Aaron
Aaron, feel free to call me anytime if you have any questions. I know how tough it is financially while you are in school. I would recommend the following used books from Amazon:
1) The Real Estate Fast Track: How to Create a $5,000 to $50,000 Per Month Real Estate Cash Flow
2) Making Big Money Investing in Real Estate: Without Tenants, Banks, or Rehab Projects
3) Buying Real Estate Without Cash or Credit
4) Investing in Real Estate With Lease Options and “Subject-To” Deals : Powerful Strategies for Getting More When You Sell, and Paying Less When You Buy
5) Buy Low, Rent Smart, Sell High
Thanks Joe. You’re the best.
God bless.
Hey Mr Joe This is Carlos Howard from georgia. im a newbie who is learning all the wisdom and capabilities each day to be a smart and educated investor. My question is what contract do i use for the seller, and do we use the assignment contract that is use for the tenant buyer and myself, the assignment contract used for traditional wholesaling with the end buyer?
Joe, thanks for those word. BUT, these NYC homeowners…are frankly speaking..some RUDE folks. I have a background in derviatives and secruties and tosed the “salesman” voice tone. But even when I am completely noncring but still friendly, they cuss, swear and become rude.
HOWEVER, reading your blogs give me a pat on the back to keep going. The road less traveled lead to the rewards most desired I say!