Your 30 Second Commerial : Real Estate Investment Tips and Strategies

Friday, October 10th, 2008

What do you say to a seller when they invariably ask you about your company? This could be in person, on the phone, whatever.

I’m going to give you a great 30 second commercial that you can easily memorize and put to use immediately in your real estate investing business.

Quick tip before we get into this: If you do the majority of the talking when you are qualifying or negotiating with sellers, you’re missing the boat. The key to effectively communicating with sellers is to find out what their needs are and to listen intently for their pain. Once you know if and what their pains are, you can effectively sell your services to alleviate their pains.

The reason why it’s called a 30 second commercial is because you don’t want to spend much time talking about you and your services. That’s not what’s important. What’s important is finding out the seller’s situation and if they have sufficient motivation to accept an offer from you. So, as soon as you get the “tell me about your company” question, you want to briefly cover their question . . . and then get back to what’s really important. Finding out their exact situation to see if you can help.

The 30 Second Commercial

Seller: “So, tell me about your company.”

Investor: “Well, I work for a real estate investing company that help homeowners who need to sell fast. Typically we work with homeowners who . . .

• Are tired of dealing with Realtors that consistently over promise and under deliver. . .
• Can’t afford to have another contract fall through on them . . .
• Are frustrated because their house will never sell in today’s market . . .
• Don’t have the luxury of waiting around forever to maybe sell their house one day. . .

Our service is really speed to take care of a problem property and the ease of working with a professional home buyer. Now, we are a company so we would have to make a profit on the property, if you are OK with that, then we can at least look into it for you.

Does that make sense?”

Putting it into Action

I’m giving you word for word what has worked for me year after year, deal after deal. Put this to memory so that it’s automatic when you get the question. As soon as you finish your 30 second commercial, get right back to what’s important . . . finding out the seller’s situation. That’s how you will know whether or not you can help them. Remember, if you’re talking, you’re not learning anything about the seller’s situation . . . so SHUT UP and listen!

For this to work, or anything else that we teach for that matter, you’ve got to put it to work. The ball is once again in your court. All I can do is provide you with the best information in creative real estate investing that exists, it’s up to you to get results because of it.

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Did you download your FREE eBook and power point presentation on “How to Recruit Private Money Millions” yet? Click here to get your copy now!

Posted in Negotiating, Real Estate Investment Buying Strategies | 2 Comments »

Secrets to Building Long Term Relationships in Your Real Estate Investing Biz

Wednesday, October 8th, 2008

In the real estate investing game, there are many different relationships that you will want to build. You’ll most likely be communicating daily with motivated sellers, buyers, tenants, investors, and contractors just to name a few. You will experience the most success in your real estate investing business with the least headaches and hassle if you are able to build rock solid long term relationships. True win-win relationships.

A great question to ask yourself is, “Have I been effective at building long term relationships so far in my life?” Be honest with yourself because to bridge a weakness, you must first acknowledge it. At one time or another, everyone can relate to having a broken business relationship. Things started off good, you did business together for some period of time, and then everything hit the fan. He said she said erupts and everyone starts pointing fingers. The relationship is destroyed and each party leaves feeling used, abused, and unhappy.

Not where we want to be!

Before I fire away here, I want to disclose that by no means have I been immune to the problems that are created by not adhering to the these words of wisdom. But, I’m constantly learning and striving to do better. So here we go . . .

4 Surefire Ways to Build Long Term Relationships in Your Real Estate Investing Business

1. Get Everything in Writing!

This is one thing that I’ve almost slapped myself over because of ignoring this simple suggestion. This is one of those things that’s easy to do . . . but it’s also easy not to do. Especially, once a comfort level is established with someone that you do business with regularly.

Over the years, I have made this mistake more than once and ended up just having to “take it.” To salvage the relationship, I’ve conceded to their demands and accepted that ultimately, there’s something that I could have done to stop this from happening. I could have gotten things in writing! This leads right into the second surefire way to build long term relationships.

2. Accept Responsibility When Things Go Wrong

It seems that it is a part of human nature to cast blame upon someone else, something else, anything else other than ourselves. If it’s not Tom’s fault, it’s the economy, or the government, or whatever else seems like a convenient scapegoat. Personally, I don’t think that it is a natural tendency to cast blame. I think that it is learned early in life as a defense mechanism. Children learn it from their parents, teach it to their kids, and so on. I suggest that you strive to unlearn this tendency immediately!

To accept responsibility for who you are, what you are, and where you are in life is a sign of a mature person. And accepting responsibility for your broken relationships is the first step towards bridging them.

Remember, when you cast blame, you are choosing to relinquish your control of the situation. By abdicating the responsibility, you cannot learn from the situation since the fault was not your own. This is a recipe for a myriad of problems to not only show up in your life, but recur over and over again until you leave this world.

You’ve probably heard the definition of insanity before. To do the same thing over and over again and expect different results. This is in essence what you’re doing when you cast blame.

I always say to myself, “There is something that I could have done to keep this unpleasant event from occurring.” Then I ask myself, “What can I learn from this situation so that it NEVER happens again?”

3. Make Your Word as Good as Gold

When you say that you are going to do something, and you consistently do it (every time), you shine through the ordinary masses like no other. This is the easiest way to become successful in any business. Want to know the reason why this is so . . . it’s because there are so few people that consistently do what they say. This is a truly rare trait to find. People commit to things with a reckless disregard of their reputation.

Like I said earlier, I haven’t been immune from making this mistake. The main way that we have financed our real estate investing business over the years is through private investors, and I have put myself in a position before where I had to go back in and renegotiate different terms. And I’m not the kind of person that just says something to say it. I’ve always prided myself on my word being as good as gold. One of the reasons I enjoy teaching others about recruiting private money is so that I can help them to not make the same mistakes that I’ve made.

My suggestion is this: Only commit to things that you KNOW you can handle. Accept that things are not always going to work out and take responsibility when they don’t. Finally, and most important of all, vow to make good on your word in one way or another . . . No Matter What!

4. Confront Problems When They Arise

It’s reeaaalllllly easy to procrastinate on something that you don’t want to deal with. As you procrastinate and ignore a negative situation, your relationship with whoever else is involved rapidly deteriorates. One way to stear clear of broken relationships is to confront problems as soon as they appear.

Handle your biggest relationship problems first and foremost every single day. Otherwise, your mind tends to wander from what you’re currently doing, back to the problem you’re ignoring. The time you spend thinking about not wanting to confront the problem GROSSLY exceeds the time it would take to handle it. And then, by the time you get around to it, you’ve made it worse by procrastinating.

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Did you download your FREE eBook and power point presentation on “How to Recruit Private Money Millions” yet? Click here to get your copy now!

Posted in Business Management Systems and Tools, Personal Development, Tips and Tricks | No Comments »

Real Estate Investing Video : Flip Tips in Today’s Market, Episode 3

Monday, October 6th, 2008

If you missed the first two episodes of the Rio Street Flip, check them out first:

Episode 1 : Due Diligence for 5536 Rio Street

Episode 2 : Kicking off the Renovation

In today’s tumultuous market, flipping properties can be a dangerous game. There are definitely things that every investor should pay close attention to when considering doing a flip.

Here’s a quick run down of what you’ll learn in episode 3, “Flip Tips in Today’s Market”:

• 4 flip tips to minimize your risk in today’s real estate investing market.
• Updates on the Rio Street Flip.
• Why we decided to sheet over one of the doors in the kitchen.
• Changing the configuration of the kitchen.
• Flip tips from Bobby Wallace, leader of the Charleston Real Estate Investor’s Association.
• Flip tips from Wil Christenson, full time investor, entrepreneur, and fellow contributor at MustKnowInvesting.
• Mortgage broker extraordinaire, Julie Blumetti, shares what to look for in a retail buyer.

Click Here to Watch Episode 3 : “Flip Tips in Today’s Market”

Our October 16th deadline to have the renovation 100% completed is fast approaching.

Stay tuned for the next episode . . .

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Did you download your FREE eBook and power point presentation on “How to Recruit Private Money Millions” yet? Click here to get your copy now!

Posted in Real Estate Investment Selling Strategies, Renovations, Tips and Tricks | 3 Comments »