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CS1977

CS1977's Post-Mentorship Progress Thread

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Hey, you're half-way there. You already have a signed contract with a seller; don't stop now.

 

Leave the complaining and self-loathing for those of us who don't have a signed contract. ^_^

 

Jeff

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So last week my phone was ringing off the hook with people interested in the rent to own house. Most of the calls were from the lawn sign. This week, the calls have petered out.
Normal.
I've shown a few people the house, had a couple no-shows.
Normal.
I realize half the battle is just getting the house under contract and I am super-proud I was able to do that--but I hope it was not just beginner's luck.
I'd say getting the deal under contract is about 70% of the battle. Beginner's luck? Hardly! Luck is pulling on the lever in a casino and winning a grand. Negotiating and locking up a real estate deal is effort. If you're going to kick yourself in the ass Christine, you can at least pat yourself on the back, too, when you deserve it. You deserve it!
Yeah, I haven't marketed or made calls like I should.
Normal. . .unfortunately! :(
Money's tight so I haven't been able to do bandit signs yet. My biz cards are on the way, however, and I email/speak with people from craigslist every day.
Always market within your budget. If you can't afford newspaper ads, then figure out what else will work for you. For example, you've had early success with Craig's List. Continue on with it. And with real estate markets beginning to slow and soften across the country, calling on seller's ads will become more productive.
I don't like this feeling I have. It's almost like a guilt I guess for not doing more on any given day. Anything worth having you have to work for, I know.
I couldn't have said it better myself, Christine.
It just seems effortless for others.
Hehe. . .this one gave me a laugh. I don't a person who is successful, in this business or any other for that matter, who would describe their path as "effortless". We see the end results of someone's success. The car, the house, the bling-bling, etc. What you don't see in that snapshot is the five years of labor and self doubts that came before it all.
I just wish for once I could make money and not be living in debt and paycheck to paycheck. I guess I am just frustrated that I have all this school and all this student loan debt and I still worry about money and bills all the time.
You can, and you will. You took a bold first step, Christine. The key now is not to lose momentum and to push for the very things you say you want: to be debt free and to not have financial worries. That's something that is very much in your control and grasp.
Yes, I am feeling sorry for myself. I'm done now.
You're allowed your moment. We all are. But now snap out of it, or I'll have to send one of my Philly associates to pay you a visit. . . :ninja: . . . ^_^

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*SIGH*

 

Thanks MC. I'm back on the horse again today.

 

A lady with a house in an up-and-coming part of Philly accepted my offer today on her house. I meet with her Friday. Interestingly, she is a realtor herself.

 

So--here is my plan of action:

--My biz (professional ones explaining what I do, not the "We buy houses" ones) cards should be arriving today so I will get going on spreading those around

--I am going to get a land line b/c I am not always able to answer my cell at the J O B and my cell phone reception is crappy at home (as MC can attest) I'll get a local # (my cell phone is not local)

--I will get bandit signs and car signs with my new biz phone # on it

--I will get free biz cards from Vistaprint that say "we buy houses" and leave them everywhere

--I will think about a cheap ad in the pennysaver

--I will spend time driving around w/ my microcassette recorder looking for vacant/distressed/FSBO houses

 

I am holding myself accountable and I want to come back to this thread in the next week and tell you guys my progress. FAILURE IS NOT AN OPTION!!!!!!!!!

 

xoxoxxo

Christine :wub:

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Christine,

 

I will spend time driving around w/ my microcassette recorder looking for vacant/distressed/FSBO houses
Why only vacant/distressed/FSBO houses?

 

Call 'em all.

 

Jeff

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Christine,

 

I will spend time driving around w/ my microcassette recorder looking for vacant/distressed/FSBO houses
Why only vacant/distressed/FSBO houses?

 

Call 'em all.

 

Jeff

 

 

Oh, I meant those as three separate things :wub:

 

Or, if you want to get technical:

vacant

vacant and distressed

distressd and FSBO

vacant, distressed and FSBO

distressed

vacant and FSBO

plain ol' FSBO

 

or any other of the myriad combinations out there. :P

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Update:

 

Signed my second house up for a CA in Fri. This one is in a part of Philly that's not the greatest, but is up-and-coming. Investors running all over that place.

 

It is a row home so the (homemade) sign is in the window. No calls yet, but I put an ad on Craigslist. Owner is a realtor who is also an investor so she understood the whole assignment thing, which is cool.

 

Got 3 really interested people for my other house.

 

I'll keep you posted as I ramp up my marketing ^_^

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The tirekickers are starting to wear me down. :P

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The tirekickers are starting to wear me down. :P
Then don't let them. All of us, everyone here, deals with the tire kickers you speak of. For every legitimate buyer I have, I also deal with four who fall into the "Champagne taste on a beer budget" category. The key is to remain in control. Screen and prequalify prospects to the best of your abilities when first speaking with them on the phone. Insist they drive by the property before agreeing to meet them and show the inside. After this, and still before meeting them, be sure to talk concept and numbers. They need to know what a Rent-to-Own is and isn't, and you need to know what kind of money these folks have to put down and what they can afford monthly. While this won't completely eliminate the dreamers and the bored from wasting your time, it will cut down on unnecessary trips and showings.

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They need to know what a Rent-to-Own is and isn't, and you need to know what kind of money these folks have to put down and what they can afford monthly. While this won't completely eliminate the dreamers and the bored from wasting your time, it will cut down on unnecessary trips and showings

 

 

*sigh*

 

I agree, and I have started being very firm on the phone, letting them know how the rent to own works and all the numbers, even quoting what they need as a min. down payment. (sorry MC) I specifically ask them if the numbers are in their price range before we can set an appt. Then I say "Please be sure to call me if you are not able to make it to the appt. I have had problems with no-shows."

 

So Sun. I had 2 appts with people I said these things to and neither showed. That's why I was irritated.

 

By the way MC, Earl finally agreed to lower the rent to 1400 from 1600. I still think it is high but it is better than what we were working with.

 

I am just feeling pressure to move the two homes I have under contract. It would suck if I couldn't place people in either of them. I am trying to chill.

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Then I say "Please be sure to call me if you are not able to make it to the appt. I have had problems with no-shows."
No-shows are a constant irritant in this business. Try this: first, insist on a cell phone number for all your prospective t/b's. Then, before they leave and before you leave to meet at the property, require a phone call to verify that they are, in fact, on their way to the property as scheduled. If they don't call, or you can't reach them, don't leave your house until contact is made. Those who are serious won't mind this a bit. Or at least they shouldn't. This will significantly cut down on the inconsiderate idiots who don't think twice about pulling these stunts. :P

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Then I say "Please be sure to call me if you are not able to make it to the appt. I have had problems with no-shows."
No-shows are a constant irritant in this business. Try this: first, insist on a cell phone number for all your prospective t/b's. Then, before they leave and before you leave to meet at the property, require a phone call to verify that they are, in fact, on their way to the property as scheduled. If they don't call, or you can't reach them, don't leave your house until contact is made. Those who are serious won't mind this a bit. Or at least they shouldn't. This will significantly cut down on the inconsiderate idiots who don't think twice about pulling these stunts. :o

 

 

Hey, guys, do you ever schedule more than 1 appointment at a time? Say 3 or 4, just to get the competitive juices flowing? I am still having trouble getting over the legal implications of L/O's in Texas, it is taking some time. Anyway, I would like to see how you folks are doing the showings. Brad

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I do not typically do showings unless I have 10 people scheduled to show at the same time. Even doing this I usually only end up with 4-6 people. I find this helps to motivate people, as they hear other people picturing what they would do it gets the creative juices flowing.

 

Another small touch that is nice, is throw in some Tollhouse EZ Bake cookies, they give the house that nice home smell.

 

Mike

:o

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Hey, guys, do you ever schedule more than 1 appointment at a time? Say 3 or 4, just to get the competitive juices flowing? I am still having trouble getting over the legal implications of L/O's in Texas, it is taking some time. Anyway, I would like to see how you folks are doing the showings. Brad
Absolutely! If you can, by all means do so. Serious prospects, seeing other folks milling about the house, creates a sense of urgency. Which is exactly what you want.

 

Another small touch that is nice, is throw in some Tollhouse EZ Bake cookies, they give the house that nice home smell.

 

Mike

:o

Personally, I prefer the aroma of some robust imported provolone cheese. To each his own, I guess. :P

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Christine,

While you're dreaming, keep the big picture in mind. Ask yourself difficult questions while gaining your beginning experience. Things like; how can I get deals without calling FSBOs? How can I have someone not only do my marketing for me, but pay me for it? How can I utilize this knowledge so I have unlimited time to do what I want?

 

Answers to these questions will make you wealthy. But you must realize the beginning has a purpose too. So have the dream of 2 to 3 CAs a month, it's insanely achievable.

 

Once said OPM and OPE will achieve great sucess.

 

OPM=Other peoples money

OPE= Other peoples efforts

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First...hey ;)

 

Second, can I offer one bit of advice...you know...that opinion stuff?

 

You may have already purchased the Vistaprint cards with the "We Buy Houses" stuff, but even if you did...DON'T!

 

If you are serious about Lease Optioning/CA's, etc then don't put yourself into the We Buy Houses crowd, in fact, don't even associate yourself with them. Personally, that drops you down a level in regards to credibility and deals you do.

 

If you are doing LO's or SLO's or CA's (I'm lovin these acronyms by the way) then I suggest to make your cards, marketing, etc attract the people with those type of deals.

 

Things like "CAN'T SELL YOUR HOUSE?" or "WHAT IF YOUR HOUSE WON'T SELL?" or "HOUSE DIDN'T SELL, NOW WHAT?" It's these types of phrases and marketing that will bring in the type of people that you want to attract and already prequalify them for these types of deals. I really should show you guys the pictures of my business cards...but that will cost you money :blush: But basically it is a double sided business card that has information to attract seller's on one side and info to attract tenants on the other side. It's perfect, it works great and it get's the point across.

 

There is no reason to have your phone ringing off the hook if half or more than half the calls you can't do anything with. It's better (IMO) to have the phone ringing to deals that are more geared toward you and that you can work with.

 

Hope that makes some sense, again just my two cents but I want you (as the other do) to do well.

 

Oh yeah, where in South Jerz you from? Only reason I ask is that my grandparents live in Bridgeton on a farm...great place, you'd never think you were in Jersey.

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