Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
Kyle-OH

Frustrated!! Help Me!!

Recommended Posts

I was going to pretty much say what jvmcall said.

 

It all comes down to persistent marketing and having knowledge &

confidence in what you're offering.

 

I don't think markets have much to do with it.

Look at the folks in Florida and Michigan.

Deals are being done there daily.

But, if for some reason you can't do deals locally, then

do as Michael suggested and spread your wings to somewhere else.

If I can put these deals together in rural Alabama, then I'm sure

they can be done elsewhere. Just closed one yesterday.

Seller had it listed for 6 months with a realtor...nothing.

I got it sold in 13 days.

 

Target the folks that would be a good fit for a CA

and let them know how you can help.

 

Don't know what to say when you have a possible deal on the phone?

Keep the Lease Purchase Advantage form in front of you.

Keep the conversation simple, read from the form, and don't sound too salesy.

Be yourself.

 

3 words to pull you through anything (works with real estate AND chicks):

"Act as if..."

Act as if you've been doing this for years.

Act as if what you're offering is just what a seller needs.

Act as if you don't care should they think listing with an agent is better. :mellow:

etc. etc.

Share this post


Link to post
Share on other sites

Some excellent advice here from JV and Jason. Take it in the spirit it was intended, to provide impetus and support, not to tear you down.

Share this post


Link to post
Share on other sites

Maybe I'm still too new to provide any deep insight, but here's my $0.02...

 

If this business was easy then everyone would be doing it. Some of you guys in FL or SC may know lots of other real estate investors or like-minded individuals, but here in central CA I have yet to meet anyone who I consider a serious investor. The real estate agents around here are dropping like flies, too. It takes work, study, planning, perseverance, and a little FAILURE to be successful.

 

At first, I sent out standard emails to my leads. The trouble was it read like a form-letter (which it basically was) and the people could see right through it. I was getting no responses at all. I've found that being genuine with my contacts is the best method. Now, I just send them an email or call them up and have a conversation. No scripts. Just talk to them and get past their initial wariness. More importantly, I make them sell me on the deal. Just remember that they're the ones who need you.

 

With all the business books I've read (I'm a major bookworm), I basically have a personal MBA. Devote time to your education on sales and the business side of real estate and it will pay huge dividends. This business isn't about properties, it's about people. Get comfortable working with people and everything else will seem much easier. Good luck!

 

Suggested reading:

How to Win Friends and Influence People by Dale Carnegie (Classic; Must Read)

Think and Grow Rich by Napoleon Hill (Classic)

Selling 101: What Every Successful Sales Professional Needs to Know by Zig Ziglar (Anything by this guy is gold. He's an amazing speaker, so find the audio version if you can)

Little Red Book of Selling: 12.5 Principles of Sales Greatness by Jeffrey Gitomer (Sometimes hokey and cliché, but entertaining and motivating)

The Psychology of Selling: The Art of Closing Sales by Brian Tracy (He's mostly a motivational guy, but he covers a lot of great material about why people buy and how to handle objections)

Sell with Soul: The Smart Agent's Guide to an Extraordinary Career in Real Estate by Jennifer Allen (Sometimes it's good to think like an agent ;) )

Share this post


Link to post
Share on other sites
I am in St Louis and am getting more CA business than I can handle. And I don't think it's because I am in any special market. Every market is different, but I am convinced, absolutely convinced, that this can work anywhere.

 

I'll tell you what it takes - persistence, patience, practice (and any other pithy word that starts with "p"). In my opinion, one reason why most people who "try" real estate investing fail, is exactly that... they are only "trying" it out. They give up too soon. And honestly, their marketing & sales skills suck.

 

Listen, this business is ALL ABOUT MARKETING AND SALES (and marketing to motivated sellers). Period. If this is not working for you, there are probably 2 reasons: 1) you aren't marketing enough, and/or 2) your sales skills suck. If you are doing your marketing half-shod, a little here and a little there, trying something new for a little while, then trying something else, and then trying something you did earlier, not sticking with 1-2 things that work well for others, not marketing for motivated sellers, and then complaining that nothing works, well duh...

 

Something must be said here for mastering sales skills. If you are not good at sales, if you are not good on the phone, if you aren't confident, if you sound nervous or unsure when talking to sellers, if you are timid & unassuming by nature, you probably won't get very many deals in this business. I would recommend getting some basic training on sales. Make a sales presentation to some friends & ask them to honestly critique you. You have to know how to sell yourself. Work on your elevator pitch. You should be able to tell a Seller how you can solve their problems in 30 seconds or less. Go to the library and get some audio books or videos on sales. Forget real estate investing for a while. Focus on "sales training".

 

Maybe this business is not for you. It's not for the faint of heart. I get discouraged all the time. But I am always filling my pipeline. My marketing never stops. I am always making offers. I get rejected 5 times for every 1 deal I make. Just today, I got a great lead from someone I originally sent a postcard to over a year ago. Most deals I get are from the 2nd & 3rd follow-ups with sellers.

 

Stick with it. Don't give up on marketing. Practice your sales & presentation skills. Find what other successful investors are doing and just copy them. It's really simple. It's not hard at all if you really want it bad enough.

 

My 2 cents... I hope I didn’t sound too harsh. I just get frustrated because it sounds to me like some here are saying that if this business doesn’t work for them, it's probably their market, or something else besides them. Maybe the training material is wrong. Or maybe those that are doing well are not telling the whole truth. I know that’s not what people here are saying, but that’s what I am hearing.

 

So stick that in your pipe and smoke it. ;)

 

rauch23.gif

 

 

First thing, Is I definitely do not lack in the sales department. It is a little different selling your services over the phone instead of face to face...That's the only thing I have to get used to...In some cases I might over sale.....Like you said, I have to tell these people what I do in 30 seconds or less.... In the beginning I was trying to build rapport with the sellers because I felt like if I just blurt out what I do then it's not going to matter because they don't trust me. But I soon found out that it does not matter what you do, If they are not motivated it does not matter. I am trying to solve there problem, not get invited for x-mas dinner......

 

Second thing, Your right on the marketing. I have sent letters to probates, expired's, put ads on craigslist and more but maybe not as consistently as I should.....I need to make a follow up process as well...Right now what is your 3 best forms of marketing?? I'm just curious to how you are getting so much business....

 

 

I think I am going to start door knocking FRBO and FSBO signs as well.

 

 

 

A lady just called me today about a house she has for sale. I sent her a letter back in February..I have to call her back in a few hours.....

Share this post


Link to post
Share on other sites
. . . So stick that in your pipe and smoke it. ;)
Great post! Wish I could have written that as well.

 

little FAILURE to be successful.
How true is that! You have to fail to succeed.

 

I remember when cold calls where the best way to get deals back in the news paper days and most internet adds have phone numbers...

Share this post


Link to post
Share on other sites
I remember when cold calls where the best way to get deals back in the news paper days and most internet adds have phone numbers...

 

 

What are you doing for marketing now?... Cold Calling the internet adds??

Share this post


Link to post
Share on other sites

Kyle-

 

Cold calls where never my preferred marketing method. However, many reported that cold calling one to two week or older news paper ads generated the fastest way to get deals.

 

My preferred marketing is email; still do a few bandit signs, a few post cards on mail boxes, web site, business cards, and flyers/brochures.

Share this post


Link to post
Share on other sites

I find it interesting how FSBO are so desperate for help these days. (I had an idea about it but never imagine it was this bad)

I sent an email to a FSBO which is not my style to deal with them, but the lady homeowner of this home has been the most cooperative I've ever had.

I put the house under contract last night and the lady was selling herself to me so I could help her.. wow! Never seen anyone so in need of help this way before.

 

Anyway, she called me this morning and told me she bought lots of "Rent To Own" signs and placed them everywhere with my phone number on them all.. :blush:

I honestly am thinking about switching to FSBO for now to help them out, it breaks my heart how this lady even gave me a list of people that have seen her house for sale but the families had bad credit and she suggested I call them all to see if I can work something out with some of them to place in her house. ;)

 

The owner bought this house all cash few months ago by the way, so there's no worries of foreclosure here.

 

Just an observation, that's all. (FSBO)

 

BEV!

Share this post


Link to post
Share on other sites
Kyle I hear ya. I've tryed everything and have come so close dozens of times, after 10 months I have desided to do other things. Adding to my unproductive arsenal. Diver

 

 

Yeh, I tend to have a hard head and never take no for an answer. So, I refuse to give up. What were you doing to get leads?...

 

 

Hi Kyle;

Where are you in OH? I am in Columbus and am also trying to break into this. I understand your frustrations and I thank all those who gave their advice on this. PM me, we can compare notes!

 

Eric

Share this post


Link to post
Share on other sites
Guest Diver

Hey! get this. I've been emailing back and fourth with a guy for a few weeks now. Today he emails me and says I'm just going to rent it. My jaw hit the ground. Thats Michigan folks. Diver

Share this post


Link to post
Share on other sites

×
×
  • Create New...