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

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.