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 MUCH MONEY DO YOU NEED TO RETIRE?

[social_share style=”bar” align=”horizontal” heading_align=”inline” text=”” heading=”” facebook=”1″ twitter=”1″ google_plus=”1″ linkedin=”1″ pinterest=”1″ link=”” /]Have you ever considered how much it would cost you to retire comfortably? Take a moment to think of a number and then read on.

When considering retirement, you should be taking into consideration the number of years you will need to live off of, recurring monthly expenses, vacations, helping a loved one in need, and other expenses such as repairs (house, car etc.), prescriptions, medical, the list can go on and on.

I have included a small worksheet for you to complete to determine how much you will need.

How much have you saved so far and how much more will you need to get to your retirement number. This worksheet may have shocked you to see that you are no-where near the number you need to retire comfortably or at all. I remember a humorous message saying “I will be able to retire 5 years after I’m dead.”

For many they celebrate their last day on the job and are happy and ready to enjoy their retirement. A few years later they have to re-enter the work force because they can’t afford it. Some may have reached a certain age and they were let go and they have to go work somewhere else for less than they were getting paid for. The sad reality is that over 80% of Americans don’t have enough to live comfortably now, not to mention having the money to save for retirement.

What if you saved $400,000 and you expect that you will live another 25 years? That’s approximately $1333 a month which is $308 a week. This does not include the extra expenses you would want and need to have to enjoy your retirement. How long do you think you could live on that before you have to re-enter the workforce? According to Forbes, the minimum retirement target number is $1,800,000. Are you even remotely close to saving over ONE MILLION DOLLARS??

There are many low risk opportunities you could invest in that can help you to supplement the income that you are lacking such as Certificates of Deposits (CD), Treasury Inflation Protection Services (TIPS), Money Market Returns, Municipal Bonds, U.S. Bonds, Annuities, Cash Value Life Insurance, Dividend Paying Stocks & Mutual Funds, Preferred Stock, Collectibles (Art, Coins), etc.

But the kind of return will you get from these investments could average around 3.5% APR. How many years will you need to have your funds sitting in these accounts before you reach your financial goal? It doesn’t have to be that way.

A great method to investment your hard earned funds is through real estate investing which can earn you anywhere between 8-15% return on your investment (ROI). One great thing about real estate is it’s secured by the property itself through the Promissory Note, Mortgage, Lender’s Title Insurance Policy, and Hazard Insurance Policy.

We are a Michigan based real estate company and we are looking for individuals who want to earn high returns on their investment. We specialize in private banking/investing techniques and we can show our investors how to use qualified retirement accounts to invest in Real Estate on a tax deferred or tax free basis. We can show you exactly how to set up this great investment strategy! When we come across an opportunity, we will contact you and ask if you would like to invest or pass on this particular transaction. The choice will always be yours. By the way all transactions will be handled through a real estate attorney or title company.

Want to learn more about investing in real estate with us, please call 847-235-9734 to hear our 24-hour message or visit our website at www.mi-realestateinvesting.com/investor.

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

 

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.