5/20/12 BP Newsletter: Pacing Your Investments, Increasing Profits, & Speeding Up New Deal Screenings
Hide thisWednesday, June 01
I'm the type of person who likes to incorporate the future into my business ventures. The social media phenomena is something that's very mysterious, and very generous at the same time. One thing I do not understand is the social network Twitter. I've read two books on how to increase my followers, and build rapport with my twitter account. After trying what has been suggested, I have now became extremely bored with the appeal of writing articles, and spamming them repeatedly through the day. Does this method actually work for you and your business?Give me some tips to become a better twitter follower! and you can follow me
@shortsaleme
Tuesday, May 24
There are many ways to acquire short sale leads, as most of us know. I personally like to find realtors that are willing to go the extra mile to get the property sold, and who are savvy enough to understand exactly what my company is trying to accomplish. I meet with all types of buyers on a consistent basis. Some cash, more financing, and I hear the same thing over and over again; "I HATE REALTORS".Those words bring me back to my first years as a wholesaler in which I marketed for various realtors. I had some owner financing investors, who had a strict investing rule; put minimum money down, fix the house and sell within 1-3 months. A great plan if numbers permit and here in Orlando,FL it usually does. So I took them to a house and they loved it signed the contract with me right on the spot, and we had a meeting the next day with the Realtor to finalize everything and bring the deposit. Me and my buyers sat down with the broker, everything going smoothly,laughter about football and basketball, and intense conversation about the current market brought ease to my mind, excited that I was going to close this deal. Once business began the broker explained how he just received an offer for a higher amount and that they would have to match in order to beat the others offer. In hindsight I noticed that the transaction didn't really make sense, and that the broker was just being greedy and wanted to make more money. The buyers agreed, and since it was sunday when we met they promised to come by on monday to bring the deposit. I must add that before we met the broker one of the buyers expressed an extreme distrust for brokers and any realtors for that matter. He has dealt with agents who would not accept offers not because other people were putting in offers, but because the realtor wanted to wait for something higher to accumulate more money.
Later that night I receive a nasty voicemail from my buyers saying that i'm a scam artist, and that the broker probably has no other offers he just wants to make more money on the deal, and he basically skewered me with every bad word you can think of. When talking with the broker I found out my buyers were correct, he wanted to make more money therefore he lied and said an offer was put on the table.
Just like all professions they're people who care and are passionate about what they do, and they're others who only do such things to accumulate money. I personally have a love/hate relationship with realtors. I've learned that once you have a great aggressive realtor you must do everything in your power to help that relationship grow, and you will also see your fortunes rise with that growth, but I've also been on the pale end of the stick. The end in which laziness would leave properties on the market for 3 months at a time. This is a crucial lesson to anyone in the business field.You MUST be very involved in the marketing strategies of your real estate business, for what is business without marketing???
I'm trying to start a group on linkedin for realtors to connect with investors online.If your interested heres the link to join.
http://linkd.in/mviAEF
Wednesday, May 18
A common threat faced by any person daring to take the journey to become financially free is fear. The fear to communicate with others, a fear to communicate with those you feel have higher status than you, and most importantly, the fear to transcend your own current situation. This battle for me started once I left high school to pursue a career in the recording arts. Symphonic band was a bore, and the only enjoyment I received from my day to day waltz as a freshmen was jazz band. Ironically me and a friend from HS always spoke of how once we graduated from the matrix(aka high school) we would become the greatest real estate agents ever to be heard of in the Central Florida market. Days to turned to weeks, and weeks turned to me being 20 years old, switching my degree from music to business, and still not setting foot into the real estate industry. I had my sights on buying and holding despite the harsh criticism it receives. I wanted to build my finances like a structure my rental properties being the foundation that kept me stable as I pursued other entrepreneurial endeavours. A relative of mine was doing very well in real estate, and I would always beg him to show me the ropes, but he often said I wasn't ready. He would continue to harp on the fact that I would talk the talk, but not walk the walk. Eventually I began working with him, learning as much as possible until the housing bubble popped and all businesses went downhill. During this time I found myself in school, still hungry to achieve 5-10 closings a month, pushing my thoughts forever higher in an attempt to strengthen myself mentally. Fear began to envelope me during this time, and an increasing insecurity began to loop in my mind. I began marketing properties for other investors, but I was unable to bring deals to the closing table. I started to doubt myself in the real estate industry, the insecurity constantly looping in my mind, the fear forever pressing against the walls of my head. I felt hopeless, but something inside of told me to continue to pursue my dreams.