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Guest GTaylor

Lease Purchase Prospecting

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Guest GTaylor
:D Michael do you prefer cold calling or direct mail in contacting homeowners?

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Hi, George. Good question, and one I am asked frequently. I know there are those who will dispute this, but I am a big believer in cold calling as a necessity for the novice investor. Not exclusive of marketing, but in addition to it. Let me explain.........

When we are new to this business, we lack knowledge and confidence. All of us. My way of thinking is that it makes no sense to spend your money on various marketing techniques in the very beginning of your new career. Why? Because you probably don't know what to say when the calls come in. And you'll sound unsure and green. So, that hot prospect you paid to have call you senses your nervousness and uncertainty and decides to move on. What do you have to show for your marketing dollars? Nothing but an eroding belief system. This is a sure fire way to kill your enthusiasm and your career before it's even off the ground.

I think the process of picking up the telephone and calling on every FSBO and FRBO you can find in your local newspapers is an invaluable educational experience. As newbies we all need to come out of our comfort zone. Making cold calls is a great first step. You'll get kicked around, sure. You'll be nervous, of course. But, you will get over your fear of cold calling homeowners in about a dozen phone calls. You'll see the worst that can happen is someone tells you to get lost. Big deal! I tell that to my in laws all the time and they keep coming back :D.

During this time as you are calling on these homeowners you will begin to recognize the same questions and concerns from many of them. After answering these same questions, something happens. You know the answers and you're comfortable answering them. (Are those your feet on your desk right about now?)

Now, you sound relaxed and knowledgeable to the person on the other end. They stay on the phone longer and are listening to what you say.

Cold calling is a critical part of the educational process and the learning curve I feel very strongly about. It is the best way to get comfortable and professional talking about lease purchasing. Do this and you will be better prepared when the homeowners start calling you. Perhaps after a few months and a few deals you'll find you don't need to cold call anymore because now your marketing campaign is in high gear and the calls are consistenly coming in. Great! But the foundation was laid in the very beginning with those calls you were making.

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