Real Estate Investing: Q&A- Trouble Understanding Where to Start

Question: I have A.D.D. and I am having trouble understanding where to start.  I just can’t hear this, this, and this.  I need to know why I need to start there and how. Can you help?

Answer: There are many successful beyond millionaires who have A.D.D. in the real estate industry or any industry.  It is up to you to decide whether or not you will allow this to hold you back.  Everyone has their own way of learning and you will need to determine what that is for you.

Understanding Where To Start

As far as needing to know why certain information is required, it is best for you to take one thing that you don’t know and read a variety of books, listen to audios or look at video on that subject so you can get a better understanding from many different views.  There are many things in the real estate industry that can stop someone before they even start but you must realize that majority of the methods out here have been proven to work.  It may be hard to take someone’s word for it but just taking action on a method will go a lot further than just over analyzing it because you would have created an experience.  When you actually get out there and do something, it’s not just on paper anymore and fluttering in your mind.  You have taken action towards something you didn’t know about or fully understand.

Wholesaling requires marketing to find sellers who need to sell their home and cash buyers to purchase them. If you are into other forms of real estate investing, say rehabbing to fix and flip, you will need to locate properties for cheap. In order for people to know what you do and what you are looking for, you must market yourself and your business either by word of mouth, or passing out business cards/flyers, social networking, to name a few. There are other things you need to consider like funds to purchase and rehab, system to follow, what you plan to do with the properties, etc.

Wrap-Up

NO matter what you face in life, there is always a way to overcome it.  There are plenty of resources available that you will be able to relate to. When understanding where to start, read or listen to books on a topic. Take what you have learned and implement it into your business. The main thing you need to remember is that you have to look within yourself to find the determination to keep going, NO MATTER WHAT!

Go out there and start marketing in your target area to generate the leads you are going after and see what happens.  Success nor learning happens overnight. Taking action will help to overcome some of the fears of not knowing enough. Many people learn with experience. Document what you did and follow and tweak it to make your own system.

For more information on marketing, please check out our post “6 Marketing Strategies Every REI Should Know.”  Did this help you? If so, please do us a favor and share with others and comment below.

To Your Success!

Real Estate Investing

 

 

 

 

 

 

Supreme Investing Group, LLC

Email: sig@supreme-investing.com

Quote

“Unsuccessful people make decisions based on their current situations. Successful people make decisions based on where they want to be.” – Quoteistan.com

Hiring a Personal Assistant for Your Wholesaling Business

Real Estate Investing

Having a business may require you to hire a personal assistant to handle tasks you may not have time for or ones that could free up some time to tackle other more important tasks.

There are plenty of tasks that must be completed in your business for its success.  The real estate wholesaling niche requires lead generation, answering calls, emailing to prospects, creating valuable posts, and more.  The following list contains essential tasks that can be outsourced to someone who has the ability to follow the instructions provided to them.

  • Search for leads– they will need to know the exact criteria you are looking for
  • Research leads found– they will need to collect the data needed to help you to make the decision to pursue a property or not.
  • Place leads and info in an excel file– the information they collect need to be placed in an excel file and forwarded to you daily.
  • Search for real estate topics to be used for blogs and social media connection– you will always need content to make posts and blogs. They will help to find some information that you can write about
  • Market research in selected areas– it is important to know the areas you plan to invest your marketing efforts in. They can provide the online data available for this task
  • Check and send emails to sellers– they will need to check to see if sellers have responded to your marketing or any emails you sent to them. Also, they will need to send emails to properties they find through online search.

Their Schedule and Instructions

Depending on the tasks needed to be completed, you can start personal assistants off working 2-4 hours, 3 days a week.  This amount of time should allow them to complete majority of the above tasks.  You can time yourself on completing these tasks to know exactly how much time they should be spending to avoid overpaying.

Also, you can provide a screen recording of you doing these tasks.  This will help the personal assistants understand how you want things to be done. Written instructions should accompany this recording.  It is important to provide the individual as many details as possible for their success at completing your tasks.

Just remember that clear instructions is key.  Everyone don’t have a business mindset and need to be told exactly what to do and how to do-it.  So, make your instructions easy to follow and understandable.  Keep in mind that you need the personal assistant’s help to free up some of your time.  You don’t want to stop what you’re doing to receive calls or emails about how to do something or receive work that isn’t done right and you will have to do it anyway.

Skills and Hardware Needed

There are a few things and skills you will want your assistant to have.  The following are the skills and the hardware needed to complete the tasks:

  • Able to use a computer to complete searches
  • Can type
  • Friendly
  • Dependable
  • Some related work experience (very helpful but not a necessity)
  • Phone to make and accept calls
  • Available for 2-4 hours at a time
  • Speak clearly

Who can complete these tasks?

The mentioned tasks are not hard to complete and anyone who has blocks of time can help you with them.  If you are just starting out, you may want to work with someone that wouldn’t mind just helping you.  You can compensate the when you close a deal.  This person can be:

  • A friend
  • Family member
  • Your teenage kids
  • Neighbor kids

There are many possible individuals you have in your personal circle that want to see you be successful.  You want know who will help, until you ask.

Wrap-Up

Decide on the tasks you would like completed, how much time you will need the personal assistant for, who you can ask that has what is needed to get the job done.  Keep your instructions clear to avoid misunderstandings.  Be patient because it takes time to find the right person that can handle various responsibilities.  Remember, your time freedom depends on them.

If you found value in this post, please share with others and comment below.

We wish you the best with finding your personal assistant.

Real Estate Investing Blog
Caters to business and personal development.

 

 

 

 

 

 

 

 

 

Supreme Investing Group, LLC

Email: sig@supreme-investing.com

Quote

“Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t. – Unknown

Real Estate Niches, Mailings and Descriptions. OH MY!

REAL ESTATE NICHES, MAILINGS AND DESCRIPTIONS. OH MY!

If you are new to real estate investing and don’t know what niche to choose from, this short post will help you to understand what is involved in a few of the most popular markets. Also, take a look at our previous post “6 Marketing Strategies Every REI Should Know” to learn more about marketing strategies to your chosen niche.

Pre-Foreclosure/Short Sale

A pre-foreclosure/short sale specialist is someone who will work with homeowners who are in pre-foreclosure and the mortgage companies who these owners owe to.

You will have to send out multiple mailings, find contact information, drop out door packets to these distressed homeowners. You need to understand that these homeowners are not going to just talk to anyone. They may be trying to avoid the mortgage company. So, that’s why we use multiple ways to contact them and get them to call us.

You will offer them solutions to ridding themselves of their property that will help them to get a fresh start. You will also need to contact the mortgage company and negotiate a lower price for the money owed, this is called a “short sale”.

You will need to have scripts and other materials to help you with this process. Keep in mind that this is a long process but it can be very rewarding for all parties involved if the sale goes through.

Virtual Wholesaler

If you want to work out of various markets, then virtual wholesaling will be the strategy you will want to employ. A virtual wholesaler is someone who seeks to find large active cities to get their business involved in.

You will locate real estate agents, contractors bird dogs, buyers, title agencies, and any other power team member needed to find a property, get it under contract, and close on it.

You will need to have materials, scripts, and any other information needed that will help you to successfully research and market to find these power team members.

You will need to set-up systems that will allow you to track the different stages the wholesale process, multiple ways for your power team members to be able to keep in contact with you, and a program to collect signatures for contracts that need to be signed.

Private Money

Seeking private money is a necessary strategy if you would like to buy and hold properties, fix and flip properties, or wholesale properties through a double close. You would be considered a private money specialist which is someone who seeks and markets to find investor lenders to fund our deals. These private money lenders will want to earn a high return on their investment funds (ROI).

When seeking to find private money, you must be very familiar with the materials needed to show that you are an expert and know what’s going on in the investing market, like retirement, 401K, bank CD’s, etc. You will locate a list, receive a referral from someone, contact people you know, market your company, and speak at events to build a private money list.

You will need to have scripts to help you to go through multiple conversations. It will be your duty to keep in contact with them even if you don’t have a project for them to invest in currently. You will also contact them when you do have a deal for them to see if they would be interested in that deal or not.

Co-Wholesaler

A co-wholesaler is someone who markets to find other wholesalers who are putting properties under contract and need to find a buyer to purchase those deals.

You, as the co-wholesaler, will search online to find these wholesalers and offer to find them a buyer if they would be willing to split the finder’s fee.

When working with other wholesalers, you don’t have to search and market for a seller, they have done that for you, which makes this a great strategy.
You will need a script to use when speaking with these wholesalers. It will be your duty to keep in contact with them, find out what types of properties they are looking for, buyers, etc.

WRAP-UP

There are many other strategy niches to choose from but the ones mentioned in this post, can be lucrative if you do your research, develop or find scripts, market consistently, and get your name out there. We suggest you start working on one strategy at a time so you don’t become overwhelmed. Once you see that your knowledge and business have grown, then start to add on more strategies to continually grow your business.

We hope you enjoyed reading our post. If you have any questions, comments or concerns, please leave a message below or contact us by email at sig@supreme-investing.com.

We wish you the best in your chosen field,
Supreme Investing Group, LLC Team

Marketing Strategies-Part 1: Direct Mail

Marketing is the key to finding deals on a consistent basis. If you are not getting your name out there, then you are not in business.

This post is an expansion of our previous post “6 Marketing Strategies Every REI Should Know”. Our intention is to explore each of those 6 marketing strategies and a few more in multiple parts. Direct mail marketing is Part 1 of 4.

In just about all businesses, marketing is used in one way or another. For businesses that provide a service, it is essential to generate leads through various marketing avenues. Direct mail is typically used when you have a list of contacts or if there is no phone number to call a contact you want to reach out to.

Creating Your Mail Piece
You will need to determine whether or not you want the mail piece to be personal or professional. There are various ways to create the mail piece. Handwritten envelopes generate higher response and/or open rates due to them looking more personal. The following chart contains what should be included in a handwritten letter, long letter, post card, and short letter.

Handwritten Letter– yellow lined paper- small handwritten envelope
• Greeting with contact’s name
• Your message (create urgency)
• How you want them to respond to the letter – call (best) or visit website
• Your signature and contact information
Post Card – yellow or white
Front side-
• Attention grabbing headline
• Your message
• Call to action
Back side-
• Small message on the side
• Your (company) address at the top
• Contacts address
Long Letter– typed
• Date
• Contact’s name
• Address, city, state, and zip code
• Regarding statement
• Greeting with contact’s name
• Message (benefits, solution) and Call-to-action
• Salutation and signature
• Your info can be located in the header, footer, under your signature line or above the date.
Short Letter-typed
• Attention grabbing headline
• Regarding statement
• Greeting with contact’s name
• Short message stating why they should call you and repeat the benefits from the long letter
• Call-to-action with some type of urgency
• Your name and signature
• Your info can be placed same as the long letter

Your Message
When creating your message, keep in mind their need. The message should convey the problem they may be having, the solution you can provide and the benefits they will receive. For example, in real estate:
You contact a seller who is trying to sell their house using a yellow letter. It may sound like this:

Dear Mr. and Mrs. Seller,

My name is LaKisha Frye from Supreme Investing Group, LLC. The reason for writing you today is through an online search I noticed you have been trying to sell your property for some time now.

I am reaching out to you today in hopes of making you an offer to purchase your property.

Many homeowners are unaware of the options available to them.

Please contact me at your earliest convenience to explore the solutions and benefits of selling your property to investors like us.

I can be reached at 616-123-4567. I look forward to speaking with you soon.

Sincerely,

LaKisha Frye
616-123-4567

Never assume your contact knows why you are contacting them (even if you contacted them previously). Give the contact all the info they need (step-by-step) as if they don’t know anything, usually in the long letter. Be clear and concise. Present your message with the solutions to what they are going through now, how your services can benefit them and that you are here to help them. Your objective is to entice the contact to reach out to you. Be sure to check for errors or commonly misspelled words.

Make A Schedule
In order for you to know what and when you sent out a mail piece, you should setup a mailing schedule. You should create a mailing system because it will allow you to know the type of direct mail piece sent, the date it was sent, follow up pieces and also when they contacted you. The system we use is setup with the contacts name, address, phone if available, and the above information detailed on one spreadsheet. This helps to keep us organized and prevent from mailing to someone we have already been in contact with.

It is important to mail to each contact at least 3-7 times. Some contacts may not be in need of your services at the time of your first few direct mail marketing pieces. Your contacts circumstances can change at any time and it is up to you to make sure they know who to call when it does.

Decide on a mail piece sequence and schedule when you will send them out. For example:
1. Handwritten letter (first mail piece)
2. Post card (follow up in 1-2 weeks)
3. Long typed letter (follow up in 3-4 weeks)
4. Short more demanding call-to-action letter (follow up in 5-6 weeks)
5. Continue with a post card (send out monthly)

Depending on the type of service you provide, other companies may be sending similar direct mail pieces to that same contact. So you want to continually get your name in front of them. Mailing something one time will not get the responsiveness you need to get that contact to call you.

FYI- Getting Your Business Started
We recommend when starting out (home-based business) to use a virtual office service. You will get an address, phone, fax and many other features you will need all for one monthly price. This will save you a lot of money on having to reprint your business and marketing materials. Having the virtual office will allow you to keep your personal information separate which is important if you want to look professional and start to build credibility. You will want to have a business phone and address you can put on all your marketing pieces. More information on this can be found in an upcoming blog post.

Wrap-Up
Direct mail marketing can be very lucrative if you use various marketing pieces, create the right message and send them out consistently. Many people don’t work with businesses they don’t know and your messages will help them get to know who you are and what you can do for them.

Please look out for the parts 2-4 in the coming weeks. We hope you enjoyed this post and gained some insight on the direct mail marketing strategy. If you have any questions or comments, please leave them below or contact us by email at sig@supreme-investing.com.

To Your Marketing Success,

Supreme-Investing Team

6 Marketing Strategies Every REI Should Know

Even though we gear our messages to real estate investors, these 6 marketing strategies can be used in other business niches as well.

Real estate investing (REI) can be very lucrative if you know how to market to get leads and which ones works best for your budget.  We will discuss the 6 best ways you can get the word out but there are many more.  These marketing strategies are used by many of the successful investors who are well known in the REI industry.  We also discussed how to market for leads with these methods to get the greatest impact.

Marketing Methods and Time-frame

There are many ways you can market to generate leads.  Keep in mind that in order to keep leads flowing in through your marketing efforts, you will always need to be promoting at least 2-3 different types of marketing in your business.  The following are the strategies that made it to the top of our list:

  1. Direct mail is a great way to get responses to generate leads. You may have to follow-up with multiple mail pieces in order to get people to call.  You can send postcards, yellow letters, and long and short letters.  These pieces should have varying messages and should be written to catch the reader’s attention.  You should mail out these mail pieces to each lead at least 4 times.
  2. Bandit signs have a very successful return rate when it comes to generating leads. You must be careful because bandit signs are considered illegal marketing in which you can be fined.  These should be put out on Friday’s after 5pm and picked up on Sunday’s.  Be sure to get a google voice number to send these calls to.
  3. Free online ads are a great way to market for leads. When posting these ads, each one should have different messages. To avoid being flagged by email providers, you should create multiple email accounts so you can post your ads 2-3 times a day to stay at the top of the list. Here are a few sites to use: craigslist.com, backpage.com, usfreeads.com, classifiedads.com, olx.com, and ebayclassifieds.com
  4. Flyers and business cards are great ways to generate leads and socialize with people. You can put them everywhere you go and give them to people you mingle with.
  5. Social events such as REI meetings, investor clubs, etc. can be very lucrative in regards to networking yourself with other investors. Connecting in these groups will allow you to receive leads from others who are in different niches than you are or can give you referrals for other leads you may need for your business.
  6. Word of mouth is a never-ending avenue to use when speaking with people you know or people you run into. Every situation you are in, whether at the grocery store, shopping mall or center, restaurant, or any other social engagement can be very valuable because you have the opportunity to communicate face-to-face with someone and build a connection.  Prepare yourself by writing a script of what you would say (elevator speech) to everyone you meet regarding what you do and how you can help them.  Be sure to ask if they would pass your information along to someone they may know who needs your service.

YouTube and other social media connections are great to get the word out about what you do.  Radio ads, billboard signs, and television commercials are other methods to advertise for leads.  Additional marketing includes webinars, seminars, conventions, luncheons, websites, email generation, etc.

Marketing Budget

When you are budgeting for lead generation marketing, you should consider how many times and how often you will want to connect with that lead.  With direct mail, you will need to consider how you will mail these pieces whether it will be first class or bulk rate.  Your consideration should be determined by the number of pieces you will be mailing.  Bulk mailing rates are discounted for larger amounts of pieces being delivered at once. You should keep in mind that bulk mail pieces will not be returned to you if the mail piece is undeliverable and first class mailing does.  Quick tip: When mailing first class pieces, if you would like to receive a person’s forwarding address when undeliverable, write or type underneath your mailing address “Address Service Requested”.  There is a small fee that will be charged for this information.

Depending on the type of paid advertising you will use, it is important to consider the limits per site you will have.  You should set a certain daily budget that you will want to spend with Pay per click ads, along with certain criteria to generate the best clicked to open rate.  There are many pay-per-click sites like, but not limited to, Facebook; Yahoo; and Google.

So, this wraps up our marketing strategies for lead generation.  With this information you can start to market to generate leads for your business or increase the amount you already receive.  We hope you found value in this post. If you have any comments or questions, please leave them below.  Thanks for reading.

Supreme-Investing Team

sig@supreme-investing.com

 

How To Reach Attainable Reasonable Goals

Year after year, January comes along and many people say their New Year’s Resolutions. Whether it is:

  • I want to change the way “blank”
  • I want to make this amount of “$$$”
  • I want to lose this “many pounds”
  • I want “this or that” for myself, family or out of life

All of those resolutions are great things to strive for but you must be willing to work at them.  It is a good habit to make goals for yourself, have you thought about what you are going to do to hit those goals?  It is easy to say “I am going to do this or that” and by the middle and to the end of the year, those resolutions will either fade away or get pushed to the side which could possibly leave you feeling discouraged or disappointed that you did not reach them.  So, when January comes along again, you tell yourself that you are going to do “that goal” this year.  How many years do you plan to let pass you by?

CHANGE THE WAY YOU THINK ABOUT GOALS

The first thing I want you to do is ask yourself the following:

  • How do I feel when I don’t accomplish a goal?
  • Was that a realistic goal I was able to reach?
  • What efforts did I make towards getting to that goal?

Don’t set yourself up for failure. Goals should not be made and then put to the side.  The effort you take in making the goal is as important as getting there.  No goals are perfect because you are not perfect but you have the opportunity to achieve whatever you set your mind to.  Set goals you feel good about and can achieve but they must lead you towards what you want. You will be surprised at how good you will feel when you meet that goal.  Dedicate yourself to making goals that are not far-fetched. If your goal is to make 100,000 a year and you only made 35,000 in the previous year with no set plan at achieving it, the less likely that you will not achieve it. Just saying you will do something is not a plan. You must work towards making your goals become a reality.

FYI: Have you ever thought about how much time you have in a year to attain your goals? Did you know that there is a total of 8,760 hours in a year (excluding leap year) and if you sleep 8 hours a night- or day for 3rd shifters- which is 2,920 hours, that leaves you 5,840 hours to hit the goals you made for the year? Think about when you factor in other obligations? If you look at it, that is not a whole lot of time to sit back and think about what you should be doing to get to your goal. You need to start taking MASSIVE action TODAY towards achieving your goals.

MAKING YOURSELF ACCOUNTABLE FOR YOUR GOALS

Here is one way on how to reach attainable reasonable goals, ACCOUNTABILITY. It is essential for you to be accountable for the actions you take towards your goal.  Setting resolutions or goals should be more than just putting them down on paper and saying that I will get to this or that point in your life.  Decide what needs to happen to meet your goal(s) and work at doing something towards it every day.  Only you can take the steps needed for success!  It all boils down to consistent actions.

Make your goals a “BIG DEAL” to help you establish accountability for yourself.  Tell yourself, “If I don’t HIT the goals that I set, I am letting myself down”. Believe in what you speak or what you set. If you do what you say you are going to do every time and hold yourself accountable, it will become a habit that you want to keep to yourself.  HABITS CREATE SUCCESS.

EXAMINE THE WAY YOU SET GOALS

It is not ok to have goals without holding yourself accountable but you must also look at the way you are setting these goals.  Instead of just looking at the goal you have for the year in one big chunk; plan to set monthly goals and then break that down into weekly smaller reasonable goals.  Do these steps and aim to stay on track no matter what.

You should be setting steady monitored goals that you can achieve and then build on that. But if reach the goals you set consistently, you will continue to aim at conquering those goals.  You need to monitor your activity and the best way to do that is by documenting the activities you have done.  Doing this will show how you are progressing.  If you don’t have anything to compare your goals to, how can you know how close you are to your goal?

 

We hope this article on HOW TO REACH ATTAINABLE REASONABLE GOALS will armed you with the knowledge you need to get started moving forward to where you want to go instead of being held back with discouragement and disappointments. Remember, for every goal you set, you should have a step by step plan in order to reach that goal. Breaking down your goals into monthly, weekly or maybe daily objectives will help them to be more attainable.

So, what is the main goal you want to reach this year? We would love to hear your goals.  Feel free to share this if you got value. Thanks for reading!

Supreme Investing Group, LLC

Email: sig@supreme-investing.com

Website: http://Supreme-Investing.com

Making a blind offer to a homeowner

 

Q: Is there a way for me to know how much to offer a homeowner without going to the property?

offer
Offer to a homeowner

A: When determining a blind offer for purchasing a homeowner’s property, it is best to gather as much information about the site from online sources. It is recommended that you do a google search of the address and look at google street view to make sure there is actually a property there.  Also, use the tool to see the condition of the neighborhood.

Zillow.com, Trulia.com, Eppraisal.com are great sites to get some information and estimates of the value of the homeowner’s property as well as comps. You can also visit your online county website to gather the owners names, addresses (if they are absentee owners) and tax assessment information.

These are great ways to get a broad idea on a blind offer to a homeowner but this information will not let you know the condition of the property. The online pictures may be up to 10 years old, the property could have had a fire or the home could have been remodeled in the last few years. It is hard to determine an offer without knowing the repair costs which could range from minor cosmetic repairs to major reconstruction.

If you want to get the best estimate without you personally going to the property, you could hire someone to go to the property.  They can take some pictures for you and possibly talk to some neighbors to get some info regarding the area.  It is best to get some hard evidence to arm you for negotiating the best potential deal that can benefit both you and the homeowner.

I hope this  Q & A was valuable to you.  If there is something you would like more info on, please comment below or use our speak your question feature located in the sidebar.

STOP… Read this before creating a lead magnet

 

If you are looking to create a valuable content based lead magnet to drive in leads then this post is for you.

frustrated landlord pic Unhappy Lead

Before creating a lead magnet to drive in leads, make sure it’s relevant and don’t make the prospect think “IS THAT IT”, strive for value.  I have had this happen so many times and it is very disappointing.  People will get turned off very quickly if you provide information that isn’t worth their time spent.  I know the object is to reel the prospect into buying, selling or signing up for your email list but the information must be VALUABLE.

Make sure when creating your lead magnet, it is something that the prospect could really use to better their situation or gain a better understanding of whatever you are presenting. You may hear this a lot “under promise, over deliver”, this is actually some great advice when it comes to building trust or relationships.  When they see that you are delivering more than what you promised, they may want to do more business with you.

You need to make sure the content that you create is something that the reader needs to help them and has the potential to ultimately send that lead back to you. I suggest that you write down a few ideas in the niche that you are in and see if you can create a PDF that would entice the individual to stop and read what you have to offer.

Take the time to answer the following questions to narrow down the content you would like to offer:

  1. Who is it that you’re trying to attract?
  2. Who is your target market?
  3. Who are the people that you really want to serve?
  4. Who do you want to attract to you?
  5. What are their problems?
  6. What do they struggle with?
  7. What questions might they have?
  8. What solutions do they desire?
  9. What are their obstacles?

If you can answer these questions you are well on your way to creating lead content that will prove to be valuable to your reader.

Thank you for taking the time out to read this post. If you found this information helpful or not, I’d love it if you share a comment below.