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On this series, I am going to go live and do live prospecting as the gateway to flipping homes for massive profits.
First of all, let's cover some of the things covered in the video as we prospect on on to the next level.
Cold Calling vs Direct Mailing
The former is more of an aggressive and active marketing while the latter is a passive marketing strategy.
With cold calling, you reach out to publicly published list of prospects experiencing problems that your services can solve.
Preforeclosures is a great example of that and you can see in the video how we reach out to these folks to help unload these properties.
The other option is to invest money as opposed to time in sending them direct mailing asking them to reach out.
That’s passive marketing and it works as well provided there is no ultimatum on your marketing budget.
Consistency is key in hock ever marketing strategy you choose.
Doing it Vs Getting it Done
This has to do with the activities in your business and the 2 choices you have in engaging it.
You can choose to be doing them all by yourself or you can focus on getting it done.
It all depends on how much resources you have available in time and money.
If you have more money than time, then it’s best to leverage automation and team building to get things done.
Then your responsibility would be in monitoring results.
There is one thing I want you to watch out for when it comes to outsourcing these activities and hiring virtual assistants.
Don’t do it prematurely as that can be dangerous for the health of your business overall.
100% of Nothing Vs 30% of Something
This is simply emphasizing the importance of team building in your business.
However, don’t try to build teams a solution to laziness. Instead, use team bustling as a leverage to creating larger and better results.
Knowledge Vs Execution
Execution wins this all day simply because you also learn and gain more knowledge as you execute in your business.
There are way too many people who know too much and execute almost never on what they know.
Flipping homes basically starts with putting houses under contracts at 65% of its after repair value minus estimated cost of repair and selling the rights to the equitable interest in the property at 75% of its after repair value minus estimated cost of repair.
The spread between the 65% and 75% of the after repair value becomes your fee as a marketer and for securing these types of deals for real estate investors.
It's your responsibility to use comparable (comps) to determine the after repair value of the property and to estimate the cost of repair.
Why would anyone want to sell you this properties at 65% and lower?
1. The property is distressed
2. The property ownership is distressed
3. All of the above and motivation to get rid of the property.
However the first step to flipping homes is to find this deals. This is one of the most effective and cost effective strategy.
Cold calling and prospecting distressed home owners that are listed in public records such as preforeclosures, probates, tax defaults and more.
Enjoy watching as I demonstrate in this series.
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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