Radio Ad disaster??? Or NOT!

[Lydia 0]

Schedule ($500) ran this weekend (Memorial Day)

 

Sat:12:19 a.m., 1:39 a.m., 8:18 p.m., 8:49 p.m., 9:19 p.m., 10:18 p.m., 10:49 p.m., 11: 39 p.m.

Sunday: 12:38 a.m., 5:50 a.m., 7:49 a.m., 6:49 p.m., 7:38 p.m., 8:38 p.m., 9:38 p.m., 11:38 p.m.

Monday: 12:50 a.m., 2:50 a.m., 3:50 a.m., 4:50 a.m., 5:02 a.m., 6:46 a.m., 9:39 a.m., 10:38 a.m., 11:38 a.m.

 

I have received NO calls. I had a bit of a negative attitude about it, since they didn't give me the great deal they did in March, but I'm changing that grumbling and disappointment that my phone isn't ringing into "Dozens of motivated sellers heard my ad, took down my number, and are waiting till tomorrow to flood me with their calls. After all, none of these ads ran during typical "business hours", since today was a holiday, and people probably probably don't realize that I work from home and answer my phone on weekends, too, they are holding their calls."

 

I am going to put a little faith in the "positive affirmation" and "visualization" techniques. Can't hurt! Overall, I feel like I am pretty positive-minded and I do work hard. Just a little frustrated that I haven't closed a deal in 8 or 9 months of really trying.

 

Mike's book is next thing on my list to buy. I think it must be a steal at $97. Just am pinching pennies and maxed out on credit at this point. I appreciate the free discussion here, but I really feel like I'm missing out on a lot of stuff, 'cause I don't have the manual.

 

The good thing about the ads I already ran is that people took my number down and didn't get around to calling me for weeks afterward, and there are some potential deals I'm working on from them.

 

Lydia

[MichaelC 160]

Lydia, holiday weekends in general are usually not a good indicator of how well a marketing campaign is working.

For many folks, Memorial Day is a day outdoors: the beach, poolside, barbeques, visiting friends and family, etc. Business will often get put on hold for a day or two as a result. Don't be surprised if, as you have already said, calls come in a day or three later.

You mention not closing a deal for a good number of months, Lydia. Looking back on what you have done to find deals during this time, what do you see as your shortcoming? What additional marketing have you utilized besides radio ads?

[Guest Guest_Lydia]

You mention not closing a deal for a good number of months, Lydia. Looking back on what you have done to find deals during this time, what do you see as your shortcoming? What additional marketing have you utilized besides radio ads?

Well, bright and early this morning I got a call from a guy who had a bad experience with another investor (another Ron LeGrand student) who had apparently been working on a short sale, and didn't work it out. I am also going to pursue a short sale or discount of mortgage (caveat---have to get it low enough to get hard money or a money partner involved), but also will try to retail it to an owner/occupant--his existing mortgages are high--over 8% on the first, and over 14% on the second. I will also offer a CA as an alternative.

 

So many things are up in the air. I haven't seen his paperwork and the payoff, amount to bring current, etc.

 

The sad thing is that this guy had worked out a forebearance agreement before the investor got involved. The investor led the homeowner to believe that he could make a better deal for the homeowner, and advised the guy to not make any more payments. Now Loss Mitigation is less eager to work out something. There are still other things to try!

 

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About Marketing and Success-

I think my greatest shortcoming is #1 not having more money for marketing. I have to believe that more "big" and consistent marketing campaign would bring me more calls. A close second "shortcoming" is that I have Fibromyalgia and Migraine and I just physically can't consistently put in as many hours a week as I'd like and feel I should. I am not able to even consistently put 20 hours a week into the business. I typically have 2 or 3 days a week I am pretty much bedridden for most of the day from fatigue from Fibromyalgia. On those days, I might not be "sleepy", but malaise keeps me in bed--can't even watch TV, read, or use the computer. I just lie in bed with my eyes closed. Usually I take advantage of that downtime by listening to motivational and/or educational tapes.

 

I am currently living off temporary alimony and disability. God knows I am doing the very best I can to take care of my kids and house and try to get a business off the ground for when my disability ends. It has been difficult and I fight feeling like a failure most of the time. I'm not giving up, though.So far I haven't missed an appointment with a homeowner or "dropped the ball" and screwed up a deal or made anyone mad at me, but I have ignored phone calls (I crossed my fingers and hoped they'd leave a message, and I also have caller ID to call them back) when I was in so much pain from a persistent Migraine or in such "brain fog" from the Fibromyalgia or medication that I was afraid I'd be incoherent.

 

As far as my marketing efforts--Having very little money, I started off (and still use) with the cheap stuff--"driving for dollars", business cards (including magnetic), flyers, ads in free papers (disappointing), bandit signs (not many, as they have cracked down on illegal signeage in my area) and car signs, calling ads and FSBOS, e-mail FSBO inquiries, mailings to select homeowners,and of course word-of-mouth and networking with other investors. I joined my local REI group last summer.

 

I subscribed to the legal papers to get access to people with troublesome properties. I do not make full use of this, though. I mean, all the divorce notices are there, and I haven't sent a single postcard to that group. Postage costs add up, so I haven't done lots of mailings. I do have 71 pieces to get in the mail today, though. Have worked on some codes violations, and houses that need to be sold after deaths, but no deal yet.

 

I think without my physical difficulties (even with no money) I would have been able to work hard enough to have some deals done by now. And I do expect to make it, it just might take me longer than someone who enjoys better health.

 

I have done the things Ron LeGrand said. I started out with VISATAPRINT cards, but got some double "LeGrand" style cards around the time my radio ad ran. I have a separate # for "business calls", and a separate line for my fax. I also have a voicemail system, which was recommended by Conti and Finkle, but has hardly any calls.

 

I got very few calls till my radio ads ran at the end of February. I have also been running a pretty cheap ad in the free "Christian Classifieds" which I do get a call from every so often. I think I will try to keep that in there consistently.

 

Did I tell you that codes called me about a complaint and I am not supposed to park my car on my property with ads on it? I took the vinyl lettering off the back window and am looking into getting a removeable "cling" decal with the same info. I am supposed to take the magnets off my car, but I "forget". I do often park out back rather than in the driveway, though.

 

I also got a call from security at the public library because I had taped a flyer to the inside of the bathroom stall. Also, most unpleasant was an IRATE woman complaining that I had put a magnetic car sign on the gas pump.

 

I also recently got some handy card holders for my car (I haven't seen anyone else using them, but I think they're a great idea) <a href="http://ww5.aitsafe.com/go.htm?go=www.chestnutlanedesign.com%2F&afid=13667&tm=30&im=7" target="_top">Vehicle Business Card Pocket Holders</a> - Turns Your Service Vehicle into a 24 Hour 7 Days a Week Money Making Machine!

 

I find it frustrating that so many leads are properties I can't do anything with. Just have to sift and sort till I find the ones I think I can help. Most of the deals I have worked on are marginal. But I do try hard to work a solution out.

 

I do think the lease/ops and the "new to me" CA are great strategies to use. I'm excited about the CA and as soon as I close a deal, the next purchase I will make will be for the Naked Investor manual.

 

Well, I need to call a bank now and see about getting a short sale done.

 

Lydia

[MichaelC 160]

Lydia, for starters, let me say I admire your efforts and diligence in overcoming some physical ailments that would cause many of us to throw our hands in the air and shout, "I give up!" Good for you, girl! I have no doubt that your persistence will be rewarded and the fruits of all your labors will bear a big harvest as you continue on in this business.

Based on your post, one of the things I see is what I believe to be an all too common trait among noobs. You seem to be scattered in too many directions simultaneously as you try and establish yourself. It is very difficult to master one technique when you are trying to learn all at the same time. My advice has always to anyone who asks, (and even to those who don't ask, sometimes ), is to focus on one area, one technique that fits your parameters for the time being. Learn it, apply it, and then if you want you can move on to something else. The more we know, the better prepared we are to solve problems. And, that's what we are: problem solvers, Lydia. Far be it from me to tell you what to do, especially since you didn't ask. I just thought I'd throw that observation out at you.

What I'd like to offer you is this: save your money. PM me your address and I'll get you out a free copy of my manual. It's my pleasure to do so. Also, to further assist you, I'll throw in free enrollment in my Program One mentoring program if you're interested. I'd like to help you get over the hump and get a few CA's under your belt. Do one or two, Lydia, and you're on your way. You won't need me anymore . As I said, PM me your mailing address, and email address, and we'll get moving as quickly as you care to.

[jmccade 0]

Lydia,

 

Let me know what area you are in and I may be able to connect you with other investors who you could work with in your area. By partnering with other investors you can still be productive even when you are "stuck" in bed. You can do the brain work while a partner can do the leg work.

 

MichaelC,

 

You are a true scholar and a gentleman. Thank you for all of your efforts in helping us in this business.

[Lydia 0]

Michael, you are just precious.

 

I appreciate all your help and comments.

 

Yes, I am scattered. And I see how that is a problem. I have always liked the Lease/Option strategy best, and I'm REALLY EXCITED to get your manual and mentoring. I have some good leads (4 calls so far this morning and one looks VERY promising and 2 others maybe) and I think a lease/option or CA would work great.

 

I would probably "throw up my hands and give up" if I felt like there were any other alternative for me. I guess that is what some wanna-be investors do. They try it, it is harder than they thought and they decide to do something else.The judge at my divorce suggested I spend my 4 years of alimony in going back to College and getting a "JOB". That really wasn't an option. I determined to make some "work at home" business work for me, and after several false starts and discarded ideas, I have settled on this (about a year and a half ago)and have committed myself 100%. I am in debt up to my eyeballs and there is no turning back for me. I have GOT to get a return on my investment of time and money, and it will pay off. Hopefully, I'll have a "payday" coming this week!!!

 

Thanks again

 

Lydia

[option8 0]

Lydia,

BE ENCOURAGED! It is always darkest before the sun comes out and you are taking action which is the first step toward success.

I have some good leads (4 calls so far this morning and one looks VERY promising and 2 others maybe) and I think a lease/option or CA would work great.

Something just may come from these leads. All the things you are doing will generate some leads.

 

I'm with Michael, though...Concentrate on one simple strategy that pays and work it over and over. CAs are a great start, simple to implement and very easy to provide the seller, buyer and you with WINs.

 

You have knowledge to do other types of LO like sandwiches, but they take longer and require more energy. Save those strategies (and your precious energy) for the deal where the seller wants to be "hands-off".

 

I'd be happy to look over your marketing materials to see if we can't punch it up a bit to elicit those elusive responses to your efforts. Send me a private email if you'd like to take me up on this.

 

Finally,

I think my greatest shortcoming is #1 not having more money for marketing.

I'm not so certain that more money is the answer. Let's see if we can't maximize the money you have to spend for the greatest return. I still use the inexpensive, freebie stuff. We can look over your budget and see how to maximize those dollars, too. My best leads come from free advertising.

 

[As an aside...

Michael, you are the best, most generous mentor on the planet! This is the sort of stuff that makes me love this board!]

 

option8

[Gary (MO) 0]

Michael,

Someone once said that "we receive through the same hole that we give". Respect is something we earn...you have mine. What an example!

Gary

[MichaelC 160]

Thanks, folks, for the kind words and spirit you show me. That's why I love this board, too! We have a lot of friendly, caring members who give selflessly of themselves. It makes for a great place to hang out and spend some time. We learn things, we share things...........truly a win/win for all of us. I don't often use this icon, (it's a guy thing, I suppose), but: .