Why You Need to Follow-Up on All Deals

We see so many people reaching out about deals and then we never hear from them again. What has worked very well for us, our hidden secret, is that you need to check-in, again and again, that will really create deal-flow for you. It doesn’t need to be every day and every night you know, it's every couple of weeks, check-in and remind people what you're after, the specific property class and type that you're looking for so they're not just sending you a blind package of all kinds of properties.

Check-in with them because they may not have it for you today or tomorrow or three months from now but if your long-lasting goal is to buy multi-family and be in this class then you need to keep up in this checking-in, it may cost you 10 seconds every 3-4 weeks and they may not say anything but they will continue remembering you and you will be planting the fact that you are consistent, persistent and you know the space that you want to be in in 18 months or 24 months down the road when they have that property. One day you could send an email, it's going to be first on the docket, they will see it and say:

“Oh, Sally May? she's been reaching out to me every 3-4 weeks for over two years now, she's constantly doing it.”

Because of that, because of your persistence, they're going to send you over that property.

Be sure to also send them out emails when you're having your successes:

“Hey, we're in a contract on another property in Indiana.”

“We're in a contract with another property in Indiana and we wanted to see if you have any other property in this space that's available right now.”

Keep constant updates with these people, check-in, let them know about your successes if you see a broker out there who just sold a large portfolio on LinkedIn, anything on the radar that may fit into the opportunities that you are looking for. Keep in constant contact with your network.

You need to follow-up, especially with brokers, property managers, anybody really. Even if they give you something that you can't use, deals you've been offered where the price expectation by the seller is just way out of whack, tell them why you can’t use it. Don't just let it die six months down the road if that property is still there check in with Mr. Seller or Mrs. Broker and say:

“Hey remember us, we're out there, this is the price that works for us based on actuals, if they're still thinking about selling, we’re here just remember us.”

That's how we got a big deal, and, chances are if your numbers are correct nobody else's numbers are going to be that much different from you so if you put yourself as the forerunner then you'll get that property. You have to follow-up, you have to talk to people, just pick up the phone, send that letter, send a gift box, just make sure you follow-up.

Click the link and follow-up with learning more about multifamily: https://www.multifamilyfoundation.com/order-28415099