Let’s go ahead and eliminate 80 percent of your competition for awesome, high-profit deals right off the bat, shall we? But before we do that, I want to take 30 seconds to mention something that most investors consider TOTALLY IRRELEVANT that will be scaring off a large portion of your buyers if you don’t adjust your marketing in 2016. According to a new Berkshire Hathaway HomeService survey (that’s Warren Buffet’s company, so we listen when it releases data!), nearly two-thirds of young homebuyers say that rising interest rates are likely to scare them right back off buying, something the housing market – and we as investors – simply can’t afford to let happen. Want to know how to deal with this issue? We’ve got all the details – and more importantly, the solution – in our News and Networking section at REI.today.
Now, back to eliminating 80 percent of your competition…
One of the biggest stumbling blocks most real estate investors new and old face is competition for the truly great deals in their local markets. Particularly if you are a fan of wholesaling, which is a great way to put money in your pocket in JUST DAYS with real estate (see episode 1 RIGHT NOW if that little nugget tickles your fancy), then you know that it’s tough getting to the good stuff first. Fortunately for my REI Today Listeners, I recently interviewed one of the top guys in the business when it comes to CUTTING OUT THE COMPETITION. His simple secret – and let me tell you folks, it is nearly BRAINLESSLY SIMPLE, enables him to access what he estimates to be the 80 PERCENT of motivated sellers out there that no one else even has the option of speaking to. Here’s who he is and what he does.
Our “competition-cutter” is none other than Miami’s Alex Pardo, a former high-powered General Electric guy who got into real estate so that he could backpack around the world and, frankly, make a bit more money than his graduate degree in business was earning him. Back in the early 2000s, Alex spent every dime he owned at the time (997 dollars, to be exact) on a wholesaling course that he took WHILE PARTYING IN IBIZA and never looked back. Now, he’s a wholesaling powerhouse down in Miami and he credits most of his success to one extremely simple followup-technique: I call it 24th time’s a charm meets SILENCE IS GOLDEN.
So what do I mean by that? Well, for starters, Alex has learned that roughly 80 percent of all motivated sellers will NOT leave a message when they call in off a postcard, yellow letter, or bandit sign. But let’s face it. You don’t have time to answer the phone every time it rings! The secret is to collect the numbers and call back, even if you don’t know exactly who called in the first place! Alex calls those sellers back and then he follows through with a 24-step follow-up system that is truly remarkable. If you want the details, don’t worry. They’re all in the REI Today vault, of course!
So Alex calls these sellers back, and then he keeps calling. But he doesn’t just call to say, “Hi.” He calls and says “Hey, I’m sorry I missed your call. Don’t you have a property you’d like to sell?” “How can I best help you solve YOUR real estate problem?” “What can I do for you?” And here’s the ringer, folks: Alex does this 24 TIMES for each motivated seller who gets in touch with him! Why? Because he just wants to be annoying? No, because he wants those deals, and the results speak for themselves. Alex averages 40 wholesale deals a year.
Now, as an aside, let’s talk about the idea of “calling back” for a minute. If you’re like most people, you’re thinking that this is starting to sound like a lot of time on the phone. However, take your cue from Alex (again) and take a few minutes to go high-tech. There is a special, low-cost service that you can use to handle all of your follow-up phone calls that actually sends messages straight to your sellers’ voicemails. This is HUGE, Alex told us, because most people just hang up on broadcast calls. However, because this system goes straight to voicemail, it appears that the seller has simply missed a personal call, and it dramatically ramps up your response rate without you even having to talk to sellers until they’ve already given you their information and you’ve confirmed you’ve got a live one on your hands. Want the name of this system? You know it’s in the REI vault, of course!
Think about how it would change your real estate investing business if you were working on deals that no one else in your market even knew about. Think you could use that wholesaling strategy we talked about in episode 1 and make it work? Of course you could! And if you happen to be interested in Florida specifically, I’ve got even better news for you. Alex went ahead and, just for our REI Today listeners, rattled off the “sweet spots” in Florida where the properties are hot and the wholesaling is going strong. That’s in the REI Today Vault as well just waiting for you right along with Alex’s 24-step follow-up flow chart and the service HE USES PERSONALLY to make sure that his sellers never feel like they’re just part of a system and are more likely than most motivated sellers to call him back! So how do you get access to these “Florida sweet spots?” Alex’s HUGE follow-up flow chart, and a transcription of our entire interview wherein Alex not only describes how he gets his deals, but exposes a FIVE-DOLLAR SECRET that enables him to optimize his sales and results every month no matter how to the market changes? You know it: it’s inside the REITODAY Vault, our free resource library for every listener to this show! If you’re already a member of the REITODAY Vault, download the special resource for today’s show, “24th Time’s a Charm” And if you’re not yet a member, you can get your free membership RIGHT NOW by texting the word REITODAY to 33444 or visit REI.Today/vault and I’ll provide fast, free access to this truly powerful info that will make your real estate wholesale deals safer, faster and more profitable! So just text the word REITODAY with no spaces or periods to 33444 or visit REI.Today/vault to get access now… but do it now, as it’s available only for a limited time. When you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country! Just text the word REITODAY with no spaces or periods to 33444 or visit REI.Today/vault right now for your free membership.
Thanks for listening in. Be sure to listen in to Episode #3, where you’ll learn about something that sounds like science fiction, but can turn your real estate deals into real estate horror. It’s available right now on iTunes, Stitcher and at REI.Today, so get it right away!
REI Nation – always remember this: Your best investment is YOUR OWN EDUCATION!
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.