Emails? Useless. Ads? Useless.

[Doug Pretorius (ON) 9]

Realtors? Useless.

Newspapers? Useless.

Business cards? Useless.

Flyers? Useless.

Postcards? Eh...

Networking? Useless.

Mortgage Brokers? Useless.

Attorneys? Useless.

 

Don't get me wrong, I get plenty of leads, they're just well...useless. Arrogant, argumentative, self-righteous, pricks....I mean sellers. If only there was a way to talk to motivated sellers only!

[Jason (AL) 1]

Um...

Seems like you've got a majority of the source for leads there, Doug.

If none of that is working, then what ever are you going to do?!?

What is it that's bringing you your deals, currently?

 

It's also obvious that you've spent a few years and a good number of posts,

claiming that it's damn near impossible to do a creative deal where you live.

And now you're saying things are "useless".

I've said a good number of times to do deals elsewhere if that's the case.

 

There's no point in forcing a certain way to market to someone if it's not working for you.

But it stands to reason that something has to pull in deals.

Email works for me, Steve, MichaelC, several of the new guys ...hmm....who else?....

Postcards for Rex, down in Florida.

Cold calling works for Bev, MichaelC, and sometimes me (when I do it).

What's the issue with you?

 

It seems like there's something you're doing inadvertently that's making

non-motivated and the motivated, alike, scoffing at your offers.

Trying too hard?

Talking too much?

Focusing on the wrong demographic?

Speaking of demographics...my 1st mentor told me (and his other students) to market to

1-2 year old houses (also don't rule out 1-2 year old loans). Reason being, they're the sector in our

community that's most likely needing to sell. They're not used to those house payments...they have to

buy new furniture for their new home (who wants old furniture in a new home? We know it as "Keeping up

with the Joneses") and all the other things to fill it.

And, on top of the fact, that they don't have enough equity to sell their house conventionally.

These are prime candidates for a creative solution, such as a CA or sub2 (in your case, a SLO).

Who's going to want to rent to own their house if they have a ton of equity and are wanting mostly

cash anyway? Not very many, as you've already found out.

Those with little to no equity will either have to accept your creative offer, live in a house they

don't want (or can't afford), or it will go into foreclosure.

By marketing to this demographic, you've already tilted the odds into your favor, as a conventional/all cash

sale is all but wishful thinking.

Besides, 1-2 year old houses are newer and nicer anyway. So this will make for an easier sell on your part.

 

So, forget cold calling (you're asking someone to do something creative, that

they're not suspecting. Yes, I know it works, but drop it if it's not working).

Look up all the 1-2 year old loans in your desired area(s) and market to them.

You're in a metro area in Canada, yes? So I'm sure you can find all you need to know online.

Also, no need to plaster your flyers everywhere. You'll get a whole bunch of people, wanting to sell

their house, that you have no reason in wasting either of your time discussing. They're most likely

not going to be a good fit for what you have to offer anyway.

I'm not saying cold calling, posting flyers, and using newspaper ads don't work.

They do.

However, if you're only wanting to deal with the truly motivated (and not a bunch of tire kickers), then

focus your marketing on a demographic that's the perfect fit for a creative offer.

 

If you've done everything under the sun...used 1,001 different ways to market...gave 'em

your best "pitch", and still nothing materializes...then maybe you should try a different business.

However, if I can do deals in "I'm-used-to-only-a-real-estate-agent-selling-houses-what's-this-lease-option-

and-taking-over-my-payments-let-me-talk-to-my-bank, rural Alabama," then I know you can have success in

Canada. Besides, aren't others doing deals in Canada?

[Doug Pretorius (ON) 9]

Jason, notice how I carefully left cold calling out of that list?

[Jason (AL) 1]

Jason, notice how I carefully left cold calling out of that list?

 

But, yet you wrote in your 1st post:

If only there was a way to talk to motivated sellers only!

 

Forget everything I said then. I'll delete it

here soon.

Cold call (seeing that's what's working for you). But seeing you're taking a stab in the dark

by cold calling, it's going to be a process of kissing a bunch of frogs before you find

that ever elusive "motivated seller". So your frustration of dealing with them "pricks" will continue

on.

You're starting to scare the newbs, seeing that pretty much

everything else doesn't work for you.

[Doug Pretorius (ON) 9]

Hey the noobs need the fear of god put into them lest they think this business is easy

 

I appreciate everything you said and logically it makes sense. But I haven't found it to be the case here. It's true that an above-average number of new homeowners are in trouble, however in my experience they're in trouble because they have an above-average percentage of crappy high interest loans, loans I can't make any money on even when they're open to a take over.

 

I think I've covered every demographic pretty well and haven't found any to be more open to a creative solution than the 'kissing frogs' approach. Which is why I'm voicing my frustration at the inability to talk solely or at least mostly to motivated sellers.

 

One thing I hadn't figured out until today is why I get so irritated with sellers and not with all the tire-kicking can't-afford-a-pack-of-gum tenant/buyers out there. Today I realized what it is...when a T/B can't qualify they aren't jerks about it. When a seller doesn't qualify they almost always ARE jerks about it. I really need to improve my qualifying process...on the phone it's not bad, but somehow that doesn't translate very well online.

[MichaelC 160]

Doug, you're not the only one speaking with arrogant jerks. Just yesterday I had two homeowners tell me how much they wanted for their house and how much they wanted for rent. When asked where their numbers came from, both replied that if their monthly payment on the house is X, then the rent must be at least X. If their purchase price was X and they put X into the house, then x + X equals their asking price. No matter what the market says.

I'm long past arguing with these folks or even trying to educate 'em. I just move on and save my energy for other things, like running away from my wife because she thinks I'm gorgeous and wants to prove it, or yelling at the Giants on Sunday afteroons.

I guess I'm saying expend little time and thoughts on these folks. Move on. There are always other, more cooperative and reasonable homeowners to talk to. Always.

[Jason (AL) 1]

One thing I hadn't figured out until today is why I get so irritated with sellers and not with all the tire-kicking can't-afford-a-pack-of-gum tenant/buyers out there. Today I realized what it is...when a T/B can't qualify they aren't jerks about it. When a seller doesn't qualify they almost always ARE jerks about it. I really need to improve my qualifying process...on the phone it's not bad, but somehow that doesn't translate very well online.

 

Man...

I can't say I blame ya for getting frustrated.

Sellers can be a tough crowd to deal with, especially when you're

talking to the wrong crowd (folks like you and MC are dealing with).

We all get 'em.

 

Hey the noobs need the fear of god put into them lest they think this business is easy

Shhh....

[<Steve> 82]

I just move on and save my energy for other things, like running away from my wife because she thinks I'm gorgeous and wants to prove it, or yelling at the Giants on Sunday afteroons.

You're a 'HOOT' MC

 

If only there was a way to talk to motivated sellers only!

"We Buy Houses From Motivated Sellers"

Only those serious about selling in today's market need apply!

[Doug Pretorius (ON) 9]

"We Buy Houses From Motivated Sellers"

Only those serious about selling in today's market need apply!

LOL I'll try that

 

Well, 15 replies in the last 3 days to my ads...all cash, nothing close to a flip deal either.

[BEV! 0]

I HAVE A BETTER ONE THAT IS MORE DOUG-LIKE!!!

"Only IDIOTS Put Their House For Sale And Expect To Sell It In Today's Market"

Discover The IDIOT Proof Way Of Working Around This Dilemma So You Can Move On With Your Life!

 

www.4IdiotsTryingToSellTheirHouse.Com

 

 

 

JUST KIDDING OF COURSE

 

BEV!

[MichaelC 160]

Good one, Bev! I may have to run with that domain!

[skalember 1]

Doug,

 

I do strictly e-mail marketing only and kick out 20 e-mails a day using a personal e-mail like stevek@fakeemail.com. I consistently get 8-10 replies a day and if they say no I just offer to do a rental for them. In San Diego people are cheap so some will scoff at 1/2 of a month's rent for the fee but I also offer 1/2 off that if I don't do showings and the fee is given up front. The homes I target are usually $2k-$2800/mo rent so even if I get 1/2 of 1/2 it's still $500-$800 for writing an ad everyday and sticking a sign on the front lawn then running a background check.

 

But I'm in the same boat as you. I can find motivated sellers but they're just not motivated enough to bring $50-$90k to the table to close in a year, lol. I forget who said it here but i've been having good success flipping them to feel like they're the ones that need to sell me on the home not me selling them on the concept of LO. Simply using the words, "well it all really depends if your home qualifies". Then they really start telling me all about their home while I take notes. It's like the floodgates open and they even tell me exactly how much they owe. I've found my convos go much better and the sellers are even quite friendly when I don't make it all about pitching them with a lease and instead let them "sell" me on their home.

 

Then I run comps and the deal dies, lol

[dionwisn 0]

Realtors? Useless.

Newspapers? Useless.

Business cards? Useless.

Flyers? Useless.

Postcards? Eh...

Networking? Useless.

Mortgage Brokers? Useless.

Attorneys? Useless.

 

Don't get me wrong, I get plenty of leads, they're just well...useless. Arrogant, argumentative, self-righteous, pricks....I mean sellers. If only there was a way to talk to motivated sellers only!

 

Im going to have to agree with you on this one brother. I've tried to make this a full time venture and so far have just spinnend and spinned my wheels leaving me with nothing to show for. I love the business but lets all be honest it doesnt work in all markets. The ones that are doing this fulltime dont mention they also have other investments to hold them over while they wait for the next CA.

Im not bashing MC or anyone here Im just speaking from my experience. Im actually in the works in trying to create another business model. Not in realestate. My other option is to just be one of those we buy houses guys and buy anything with shingles. I think this may be it for me guys. 2010 im letting this one go.

[Jonathan RexfordFL 8]

Realtors? Useless.

Newspapers? Useless.

Business cards? Useless.

Flyers? Useless.

Postcards? Eh...

Networking? Useless.

Mortgage Brokers? Useless.

Attorneys? Useless.

 

Don't get me wrong, I get plenty of leads, they're just well...useless. Arrogant, argumentative, self-righteous, pricks....I mean sellers. If only there was a way to talk to motivated sellers only!

 

Im going to have to agree with you on this one brother. I've tried to make this a full time venture and so far have just spinnend and spinned my wheels leaving me with nothing to show for. I love the business but lets all be honest it doesnt work in all markets. The ones that are doing this fulltime dont mention they also have other investments to hold them over while they wait for the next CA.

Im not bashing MC or anyone here Im just speaking from my experience. Im actually in the works in trying to create another business model. Not in realestate. My other option is to just be one of those we buy houses guys and buy anything with shingles. I think this may be it for me guys. 2010 im letting this one go.

 

CA, Lease, Lease option are just tools. I have never been a person trying just one thing. When a seller calls you or you call them just make the deal work if it works for you. Become a Transactional person. If you can't do a deal then refer it to a realtor for some CHANGE.

[Doug Pretorius (ON) 9]

If you can't do a deal then refer it to a realtor for some CHANGE.

Now THAT is a good idea. I'm throwing away lead after lead after lead that would make for a perfectly good listing. I've tried the route of signing up marginal cash deals and found selling the property too difficult. But... referring that out to a realtor could work.

 

I know there are agents out there who work solely on a referral basis, their marketing brings in leads which they refer out to other agents to work, and they get 25% of the commission when the deal closes. Since a broker can't pay me a referral fee without violating his license, how would I get paid? Release fee on an option perhaps?