Concept 2 - Work Your Leads Consistently!
The 10 Essential Concepts Behind DeedGrabbing:
We talked last time about how you must be determined and committed to make a success of yourself, when setting out to profit from tax-delinquent property (or any other real estate venture). On the surface it sounds so simple - some of you may have said to yourself "Why is Rick sending me this motivational stuff, I want to know about real estate?"
Ignore the first email in this series at your own peril. It's truly the most important one. The reason most people fail in real estate is that they're not willing to persevere until they find success.
There is no easy shortcut to getting instant riches, especially in real estate. There IS work and learning involved, and there will be disappointments and victories along the way.
My job is to give you all of the shortcuts and education I can, so you don't make the same mistakes I made, and also to give you tools that I've developed or discovered over the years.
So how many deals will you get by sending out X number of letters?
One DeedGrabber customer reported that on his first mailing of 43 letters, he got two deals. Another student mailed 200 letters and got 3 deals with a profit of over $150,000.
Are these results typical? Can I guarantee you'll experience the same results? To be honest, no. The typical DeedGrabber student gets NO deals because they violate Concept 1. They quit too soon.
Of course, if you don't take action, you'll never even have the chance. Most students will have to send several hundred letters, over a period of time, to tax-delinquent owners, to get their first deal. It may take some time to get used to calling owners on the phone, and talking to them when they call you.
Nothing but actually going out and DOING will build this experience for you. I think though, that you'll be surprised that most of your fears of calling, and talking to, owners will be unfounded once you go out and do it.
Who knows what will happen on your first mailing? Maybe you'll get 3 deals, or maybe you'll get none. But I can guarantee you at a minimum that you'll get some calls from a decent-sized mailing and can start honing your skills.
Can you get a couple lists and send a couple hundred letters out? I know you can.
This leads to DeedGrabbing Essential Concept #2: "DeedGrabbing is a numbers game, which can be multiplied by your effort".
There are no guarantees in life. But, by increasing the number of contacts you make by mail, and following up with these contacts by phone, you will mulitply your chances of success.
The other day, I was remembering back to when I was rehabbing houses for a living, and was always searching for an alternative, better way to make a living in real estate. Once, I ordered a list of absentee property owners in my area. The only thing that was special about this list was that the owner's mailing address was different from the property address.
Most of these owners were probably current on their taxes and/or mortgage, and things were going just fine for them.
Today, I would never work a list like that. Looking back, it wasn't much of a list. There was really no indicator that the owner was motivated, other than the fact that they lived out of the area. I think there were about 1000 names on the list, and I sent out 300 letters to some of the owners on the list.
I got a few friendly calls, but nothing much came of the first mailing. The owners I talked to were just basically curious if I wanted to pay all cash, full price. But, I was encouraged that I got some calls, and I was practicing talking to property owners, so I sent another batch of letters out.
Same results, but same encouraging response. I knew it was just a matter of time until something interesting came up.
At $125 a pop to send the letters, it cost some money, but I was putting myself in the game, and learning at the same time.
The third and final batch of letters was sent out. This time I got an interesting call. The owner lived in downstate Illinois, several hundred miles away, and owned a house in Highland, IN that she had inherited. It had been vacant for a couple years, and she stated "maybe it's about time I do something with it".
I asked her how I could get inside, and she agreed to send me the keys in the mail. And, a few days later, the keys arrived.
I was pleased to see that the power was off and there was 3 feet of water in the basement due to the sump pump being off. I sent the owner some terrifying pictures, and we negotiated a price of $60,000, which was about 50% of value. I also negotiated a 120 time period to close. I went over and pumped out the basement, and found a rehabber to pay $85,000 cash for it a few days later, by running an ad in the paper.
We did a double closing and I walked out of the closing with a check for more than $20,000.
So, by staying in the game, I was able to make a great chunk of money from the deal, and learn a lot along the way - including how to do a double closing! See my course "Free and Clear Foreclosures" to see how you can do these all the time with tax delinquent property.
Imagine how well I would have done if I knew enough to get a tax-delinquent list back then, AND concentrate on absentee owners.
Bottom line - to succeed, get letters out on a regular basis, and stay in the game. Work your returned mail and call owners to multiply your success. Get used to talking to owners on the phone. Good things will happen.
You already know a LOT more than I did when I made that $20,000 score over 5 years ago - get the numbers on your side.
|Thanks, Joe! Many of the "10 Concepts" I'll be presenting came from a course I took in 2004 that changed my investing career forever. No "magic get-rich-quick schemes" - but I knew I was on the right track because I had made many of the mistakes the course warned me about - and I didn't want to make any more|
I've convinced the author, Joe Kaiser, to delve into his archives and put it into downloadable format at less than 1/7 of its original price - and you can download it now! Get 'Gonzo Investing' here.
Everything You Need to Know to Profit From
Tax Property Before the Sale -
Yes, I'd like to get the DeedGrabber information NOW!
Choose your version (click one):
Ebook Digital Download: "Go Ahead, Be a DeedGrabber" in digital format for immediate download. Takes you step-by-step through the process of DeedGrabbing, from getting your list of owners, to contacting the owners, what to say to them, and how to research the property for value and title issues before you buy. Then, how to sell the properties you get for big paydays.
DeedGrabber Study Course: Immediate download of the ebook PLUS the ebook in written format shipped to you free by UPS. Additional materials include Legal Forms CD which itself can save you thousands of dollars developing your paperwork. Also includes seminar DVD, Quick Start CD, and Introduction to DeedGrabbing CD with Jackie Lange of CREWealth.com.