Category: Real Estate Marketing

VR Technology in Real Estate

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VR Technology in Real Estate

Life has so much to offer. The splendor of it is just waiting to be discovered. One of the greatest splendors of today’s generation is the birth of technology.

Despite the unstoppable advancement we are achieving today, the demand for shelter is not changing. Real estate is one of the many industries that benefits from modernism. The methods people use to search for properties have already evolved. The discovery of Virtual Reality has really changed the game of today’s world. Having a grasp of the real world without needing to actually visit it is an experience that is becoming gradually widespread in the industry of real estate. It is an exceptional and groundbreaking process. The era of brochures is bound to end.

We cannot deny that buying properties can become really strenuous. But through applications that allow customers to have a 360-degree preview of spaces, the stress on the buyers end can be lessened. Everything can now be accessed easily: style and color selection, furniture placement, lighting options, and so on. The advantages of virtual reality are too many. It provides a limitless feature that could turn actual visitation into a thing of the past.

The digital evolvement of today’s society, specifically in the real estate industry, has really upgraded the whole process of buying properties. This is indeed a stirring phase for the current real estate game. It is amazing how, in just a few clicks, one can automatically obtain an immersive experience and check out a future space without actually driving across towns or cities to see it.

Supercharging Your Marketing Efforts

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Supercharging Your Marketing Efforts

It is actually very easy to supercharge your marketing. However, you must first realize that anything you do to get deals is marketing! Anything you do to get and keep buyers is marketing.

The first concept to understand is that marketing isn’t about you! It may be about marketing you, but it just isn’t about you. Probably, the most supercharged element to marketing is to care more about your customers than your deals.

There are three ways to reach people in our marketing efforts. First, we can meet with them in person. Second, we can reach them by phone. Finally, we can use advertisements, signs, email or even direct mail to reach out and touch these people. All these methods have their place, and we tend to use all of them from time to time. Further, each can offer synergy to the other. Your mission here is to discover and use better marketing than what is typically used by most people.

Suppose you are planning on visiting people directly to get started. Instead of just calling people one at a time, going to an investor club meeting is a more supercharged marketing technique because a lot of the people you want to meet will be there. You will find that buyers, sellers, lenders, agents and even investors often attend these meetings. You can meet and develop relationships with more key people at a club and in much less time than just hitting the streets. This is one example of supercharged marketing. Hence, you would be wise to hold off on going out and calling people one at a time until you know the people or have had an introduction. Not only is cold calling inefficient, but it can be disheartening, especially if you struggle meeting new people.

Calling people directly on the phone can be supercharged by zeroing in and calling only those you specifically need. For example, when calling real estate agents, you may want to seek out just those agents who either already own rental properties or who buy and sell properties like we do because they are more likely to be willing and able to help. You can find these people by calling real estate brokerages and seeking out either the broker or the office manager to help you zero in on the “investor-friendly” agents described.

Using direct mail advertising can be very expensive. However, this can become very effective. You can supercharge your efforts by compiling and mailing to lists that target specific individuals that most likely want what you are offering. For example: landlords. They are easy to find. They put up signs. They advertise on the Internet and in newspapers and in “For Rent Magazines.” Creating a list of just those owners who own multiple properties can supercharge your results. Having proven scripts and templates can also help supercharge your efforts. The following script has received from 5- 9% callbacks when sent as a letter by me, and many students as well. But this script can be used over the phone or in person as well:

“Letter to Cash Buyers:

I noticed you have bought some properties in Your City, Your State. Like yourself, I am an investor. Hence, this letter. I just thought maybe I might have some properties you might want or perhaps you have something I should buy from you.

Not sure this is a fit, but I would enjoy getting to know you and see if we couldn’t be of value to each other. I can be reached:

 

Ted Wood

555.555.5555
Cell: 666.666.6666
Email: Me@There.com”

 

Real estate investing is a business that can be supercharged by developing close personal relationships. To develop profitable relationships you need to be like-able, but you can’t care about being liked. Anyone who is too sensitive to push-back from others is going to find out how quickly push-back turns into being pushed around.

By calling the advisory line and listening to your coaches you can quickly learn how to make your business bloom through supercharging your marketing efforts.

Cheap Bandit Signs

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Cheap Bandit Signs

As you drive around your city, you have probably noticed signs in strategic locations advertising a house for sale, cash for houses or someone looking for an apprentice to make monthly income investing in real estate.

Did you ever imagine that you would be putting out signs to find properties and cash buyers? And not only signs but bandit signs! What is a bandit sign?  Bandit signs are typically used to promote limited time offers to a large group of people.  However, they may get quite costly when you find that you need to replace and buy them repeatedly.

You can order them from various web sites: www.amazon.com, www.gobigyellowletter.com, www.signsonthecheap.com or sometimes you can find them at a home improvement store.  You can even go to the dollar store and pick up white signs, paint them yellow and put them throughout town.

Do you want to pick up signs for free?  Let’s think outside the box for just a moment.  Is it an election year?  Whether it is a midterm election, primary election or a full-blown presidential election, candidates have flooded the city with their election signs.  They create them by the hundreds and put them out by the hundreds. There are signs for candidates ranging from city council to sheriff to mayor or governor or president of the United States.  These signs remind us not only to vote but to vote for a particular person.  After the elections are over, where do these signs end up?  Who goes around and gathers them up?  Wouldn’t it be great to help the candidate’s election committee and pick up these signs? What a Good Samaritan you are.

Simply contact the candidates, both winners and losers, and offer your assistance to pick up their signs.  They will be tremendously grateful for your help and you will have an abundance of signs that are ready to paint over with bright Rust-Oleum Painter’s Touch 2X 12 oz. Gloss Sun Yellow General Purpose Spray Paint from your local home improvement store.

Feel free to set out your new and improved yellow bandit signs around the city stating that you “Have a House for Sale,” “Must Sale” or “We Pay Cash for Houses.”

 

Social Media and Your Real Estate Business

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Social Media and Your Real Estate Business

If you want your real estate investing business to be as successful as possible, then you should strongly consider taking advantage of social media and social media marketing. Investors buy, sell and rent properties online, so taking advantage of the vast number of people who use social media is critical! For example, Facebook alone has over 2 billion monthly users. Here are some of the top ways that you can use social media to promote your real estate investing business.

 

  1. Grow Your Following

 

The larger your social media following is, the easier it will be to grow your business. You can expand your social media following by creating accounts on different social media channels and posting content to them regularly. You can create Facebook accounts, Twitter accounts, LinkedIn accounts, Snapchat accounts, Pinterest accounts, etc. The larger your social media presence is, the more reach your brand will have.

 

  1. Promote Your Listings

 

One of the largest challenges that real estate business owners have is finding renters for their real estate. Many real estate business owners rely on posting ads in newspapers and on sites like Craigslist.org. These methods can be useful; however, they lack the power of social media. With social media, you can make a post about the type of property you would like to buy or sell, and it will instantly be exposed to your entire following. People who follow businesses on social media typically have an interest in the businesses that they follow. So, you will most likely be promoting to an ideal audience when you post your properties on social media. Further, social media content is extremely shareable, and if your content is shared, it can be viewed by higher numbers of people.

 

  1. Inform Your Audience

 

One of the great things about social media is that it can be used to educate and inform your audience about key topics related to your business. For example, in the real estate business, it is helpful for real estate investors to educate potential renters about the best neighborhoods to rent in, the best moving companies to use, tenant rights, how to complete a rental agreement, etc.

 

Take your real estate investing business to the next level by harnessing the power of social media. Getting started is free, and paid advertising is a fraction of the cost of traditional print ads. Promote your real estate investing business on social media today.

How to Take Better Pictures of Your House for Sale

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How to Take Better Pictures of Your House for Sale

The Internet has become a very useful tool in the today’s society. It has become a necessity for most of us because it has a variety of uses. Even sales and marketing is made easy with the Internet. Nowadays, people and establishments use the Internet to advertise the products and/or services they offer. One good example of this is real estate.

Yes, people come looking for houses, apartments, villas, or other properties online, too. So, if you’re planning to sell a property, expand your marketing horizon and attract buyers by having realistic and attractive photos of your house online. How are you going to do that? Well, if you are under the assistance of a real estate agent then you need to make sure they can provide a good photographer for you. If they can’t, get one yourself. But, if you’re selling your home without an agent and you’re on a budget, you can opt to take the pictures yourself. Here are some things to consider.

Before taking pictures, prepare and organize everything you need, like a good quality camera. Smartphones may work but, if you can, it might be good to invest in a digital camera. Nevertheless, either of the two will work. You’ll also want to have a tripod for taking sharp photos, and, of course, prepare your house by cleaning, removing unnecessary stuff, and redecorating the interior if needed.

When taking pictures, it’s better to have a tripod because the composition of your shots is important. Only frame what you want your viewers to pay close attention to. A good photo should lead the viewer’s eyes around the entire space. Good arrangement of elements in the photo – space, furnishings, colors, frame, lighting, positioning, angle — play a role in making your home inviting to buyers. Also, consider how high your camera is off the ground. Shoot from a lower angle, as this should create the illusion of a path that walks the viewer into the room. Take note that it’s better to use natural light streaming in from the windows. Avoid using your camera’s flash. Also, know the best time of day to capture perfect, natural light for both your interior and exterior shots. For outdoor photos, dusk might be a great time to catch the last bits of daylight to yield dramatic and soft shots. Plus, always pay attention to distortion that often happens when taking photos. Some lenses may cause this to occur.

After you photograph, choose your best photos and touch them up a bit. There are photo editing tools available on the Internet, or you may ask somebody skilled to do it for you. Adjust the lighting, if needed, crop, remove noise in the photo, correct colors and more. Remember that you should produce great and inviting photos. But, don’t make your house look like something it’s not; be realistic and truthful. Finally, think of an attractive description to go with your photographs.

How to Build a Social Media Following

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How to Build a Social Media Following

Social media isn’t just for looking at cute videos of puppies and kittens or seeing what your old high school acquaintances are up to. Social media can be a powerful tool for growing your real estate investing business. Successful real estate investors use social media to: host content, make connections and advertise properties.

Use Social Media to Host + Promote Content

While you might have your personal social media account set to private, you can and should set it to public if you want to promote your business. When you set your business account to public, any interested individual can view your curated content. You can use your social media profile to promote your originally written blogs or share articles from your go-to sources.   Quality content will both engage and grow your audience.

Connect with Potential Investors, Client, and Co-Workers

Social media is called “social” for a reason! Instagram, Facebook, and Twitter all allow people to connect over business and ideas. However, LinkedIn is one of the most powerful platforms for making business connections. LinkedIn is a business-centric network focused on those looking to grow their business and careers. Use your LinkedIn page to share content that will engage these potential business connections. Pro Tip: LinkedIn isn’t meant to be a platform for shameless self-promotion. Don’t use your account to promote yourself, rather use it to make long-term connections.

Advertise Your Investment Properties

No matter what real estate investment strategy you choose, you will need the power of advertising eventually.

  • If you are a buy and hold investor, use Facebook’s marketplace to advertise your vacant properties to potential tenants.
  • If you are a fix and flip investor, use Instagram to showcase your spectacular before and after photos, attracting potential buyers to the finished project.

You can even boost posts to reach an even broader group beyond your personal network. One of the great things about social media is the low cost of advertising on it. A modest $10 budget can reach of 1,000 people.

Use Social Media to Leverage Your Business

Social media is a great way to grow your real estate business for a reasonable cost. Use the power of social connections to close more deals and watch your business grow!

Networking at Local Events or Festivals

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Networking at Local Events or Festivals

“You should always be networking and marketing your business,” said my mentors to me when I first got started in the business over a decade ago. At first, I was a little embarrassed to do so. I felt like I was being pushy and needy, but I did it anyway. It turned out to be one of the best pieces of advice I have ever gotten. I tell you this because you must realize you are the catalyst to your business. There is no boss spending money on marketing, networking or advertising for you to bring in business. You are the boss and this is your business. You control your success. Networking is a very easy thing to do. Just let people know what you do or what you want.

Summer is upon us, so that means more people we be out and about. I encourage you to get out to the masses, attend all local events or festivals that will are taking place. Be a walking billboard for your business. I usually wear black or yellow pants with a yellow polo (golf shirt) with a collar. I have written in black lettering on the front, “I want to buy your home” and on the back, “Ask me how I can give you a THOUSAND DOLLARS.” This outfit is a conversation starter. Whenever someone approaches me I tell them who I am and what I am looking for. For instance, “I am a real estate investor looking for deals. If you bring me a property and I close on the deal, at closing I will pay you $1,000 cash” or I will tell them, “I am a real estate investor and am looking to buy distressed properties in any condition, and I will pay you cash and close quickly.” Either way I have somebody’s attention and they might sell me their home or bring me a possible deal. Regardless, you will be getting your name out into the community and getting noticed. Also, bring a stack of business cards with you to give out to people.

Networking, marketing and advertising are closely related. In the opportunity above, you get to do all three at once. This does not have to cost you a ton of money in order to be effective. Get creative with how you get noticed and make it happen. Don’t be afraid to talk to anyone about yourself and your business. You will be amazed of how many people love real estate. You never know where the next deal will be coming from.

Make More Money by Finding Off the Radar Deals

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Make More Money by Finding Off the Radar Deals

Off the radar deals are properties that are not listed with an agent. They have the potential to be more profitable because there is less competition. Obviously, being able to notice these quickly is critical because if it is a good deal it will go quickly.

The ability to find deals is critical, and it is equally important to find either buyers or investors for your deals. Hence, you will want to work on both areas all the time. In many cases, you can earn a year’s pay on a single deal!

Here are the six areas of focus to find Off the Radar Deals:

  1. Out of the Box Deals (Off Market)
    1. Probate/Estate
      1. Nursing homes (make certain your sellers are not senile!)
      2. Obituaries
      3. Funeral Parlors
    2. Preforeclosure: You can buy property with a built-in mortgage by getting a quit-claim deed. A properly drawn up Power of Attorney for your “mortgage assumption” can open the communication door with the mortgage company for the duration of the mortgage. A good attorney can help you put your property in a Land Trust where you become a beneficiary and executor. Good marketing will find buyers who love the fact that their down payment is their credit approval.
    3. Vacant Observation: You will want to learn how to spot vacant properties and then find the owners through software like “Real Estate Pro.” You can find cell phone numbers and even email addresses, in many cases, using websites like www.Intellius.com for $20.00 a month or less.
    4. “Don’t Wanters”
  2. Investor Clubs – Learn how to use and exploit these clubs.
    1. People with Money: Everyone you know either has money or knows someone who does. “Ask, seek and knock!”
    2. Hidden Deals: Watch how quickly inside secrets are shared as you smile and greet others.
    3. Rehabbers & Contractors: These people go to the meeting and could be your inside track to future success.
    4. Buyers: People who are looking for deals you can easily find will be there.
  3. Landlords – Key to the Mother-Load.
    1. Find Signs: Take pictures of “For Rent Signs.” Call them. Some will be looking for more deals, and some will have deals to sell you.
    2. RE Pro Software: Ask your sales person to cut you a deal.
    3. Lists Anywhere: Start looking for lists. Just about everything is in a list somewhere.
  4. Serious Marketing – What It Is and Why It Wins.
    1. Yellow Signs: More testimonies of success with “Yellow Signs” than anything else.
    2. One-on-One Visits. Go and see the people who can help you. Remember, people like to do business with people they like. Become a friend.
    3. Free Marketing: Learn to use emails, text messages, Facebook, Craigs List, YouTube, Smart Phones etc.
  5. Reticular Awareness – Develop a sense of what a good deal looks like. Learn how to smell the money.
  6. After They Say NO! – Master the art of offer resubmission. Change nothing! Resubmit offers every two weeks. Between two out of three and three out of four offers we initially rejected!  Ask to be a backup offer on deals under contract. Sixty percent (60%) of deals under contract fall through. Your chance of getting a good deal is much better once a deal falls apart.  Always do a thorough “dead deal autopsy.” Find out what the winner of the deal is doing with the property and who they are using to help them. How did they beat you?

3 Ways to Stay Connected to Your Cash Buyers

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3 Ways to Stay Connected to Your Cash Buyers

In the real estate world, cash buyers are people who are able to purchase properties without needing to take out a mortgage or loan. They can be private individuals like retirees, lottery winners, heirs/heiress, or foreign or local investors. They can also be corporations with the capacity to buy properties with cash. If you have successfully built a massive cash buyers list then the next thing to do is to make sure you stay connected with them.

Having a good relationship with cash buyers can be very beneficial for real estate investors. They do real estate transactions faster than buyers relying on financing. Financing requires a lot of inspections, making the transaction more complicated, and, oftentimes, the buyer can fail to get approved for the mortgage loan. This would mean that the seller would have to repeat the same process all over again, spending precious time and money looking for new buyers for the property. These disadvantages that affect a real estate transaction are less severe when you are dealing with cash buyers, making cash buyers very important players in the real estate industry.

The relationship between the buyer and the seller is usually transactional, meaning it ends after the sale; however, this need not be the case each time. Instead, the relationship can be nurtured, making your past cash buyers a continuous flow of reoccurring business referrals and possible future clients. Of course, everything would depend on how well you were able to complete the real estate deal. You always want your clients to think of you as a nice, honest, competent, and trustworthy person so they are willing and wanting to call the next time they want to do business.

Here are 3 tips real estate experts shared how to successfully keep in touch with past cash buyers.

  1. Add Them On Social Media, Send Emails and Call Them

Online networking websites can let you contact and invite past clients to stay connected with you in a friendly and informal footing. For example, invite former clients to be your friends on Facebook. It’s a sure-fire way to keep in touch with them. Send emails or give phone calls to remember birthdays and any special occasions in their lives. Share home improvement insights and relevant real estate related news that they might find useful. These are just some of the ways you can make sure they won’t forget you.

  1. Drop By Bearing Thoughtful Gifts

Visit new homebuyers after they move in and bring them unique housewarming gifts like potted plants, a basket of goodies, a framed sketch or watercolour of their new home or a bottle of wine. It is also important that you make your timing right. Let them settle down in their new home first. You don’t want to barge in uninvited when they have just moved in and still have plenty of work to do. Visit them once or twice a year, especially on holidays, as an excuse to get reacquainted.

  1. Send Newsletters

Whether it is via email or snail mail, sending newsletters to your clients is a great way to stay in touch with them and, at the same time, give them useful information on what they might need and a gentle reminder of the services you offer.

Getting clients to remember you for future business may be tricky but the key is consistency. Nurture business relationships with your cash buyers and you will surely reap the best results over time.

Best Ways to Find Off-Market Properties

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Best Ways to Find Off-Market Properties

Most seasoned investors and home buyers know that one way to find a great deal in real estate is to buy properties that are off the market. The reasons why property owners skip the process of officially listing their home on MLS vary but there can be no denying that these hidden gems are there, just waiting to be unearthed.

Nothing can be more frustrating to a homebuyer than finding out that they are swamped with a lot competition for their dream house. What they don’t know is that there are a lot of great properties for sale that are not on the market. These properties are called off-market properties and also commonly known to real estate professionals as “pocket-listings.” Having said that, let’s discuss more ways to find off-market properties to benefit from.

Real Estate Agents

After finding the neighbourhood you want to buy a property in, you’ll want to find the top agents in the area and ask them for any pocket listings they have. Hiring an experienced agent that has numerous contacts with other top real estate professionals is not a bad idea, either. Remember that these real estate agents network with other agents who might have a list of homeowners thinking of selling their homes.

Direct Marketing

If you’re willing to spend extra cash to lure possible property owners to sell, then direct marketing is another strategy you can use. You can send out direct mail cards or postcards with straightforward messages saying that you’re willing to buy their property. There are a lot of practical tips to do this. One real estate professional even advised to handwrite the name and address of the homeowners your sending the letter to for a personal touch.

Estate and Divorce Attorneys

Real estate and divorce attorneys are also good sources of information about off-market properties. Reasons like death, illness, and divorce often cause people to keep the sale of their home quite so they can avoid the additional stress involved in the selling process.

Joining the local networking groups like BNI or attending auctions are great ways to meet estate and divorce attorneys.

Local Contractors

Local builders and tradesmen are great sources of information for finding potential real estate investments. Since they deal and work with people and other investors on a regular basis, they are the more likely to know about homeowners selling their property off-market.

Public Records and Expired Listings

Checking your local newspapers and government websites can help you find properties that will be auctioned soon.

Selling a house can sometimes be frustrating for some sellers when their listings expire. Following an expiration of their listing, sellers might refuse to put their property on the market again. However, this does not mean that the seller no longer wants to sell.

There are many ways to locate great off-market properties. It’s just a matter of finding the one that works for you.

5 Ways to Get Past the Gatekeeper

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5 Ways to Get Past the Gatekeeper

Who is the gatekeeper? The individual who perceives that it is her/his job is to control the flow of information or limit what information is shared. A person or “technology” that blocks or withholds information needed to complete a job.

Gatekeepers are just doing their job, trying to be efficient and protect those in their office from distractions. So, how does one get around the gatekeeper who is doing a great job?

Below are five suggestions to help you navigate around the gatekeeper. These ideas are not in any particular order, however, the first two are ALWAYS critical.

  1. Treat the gatekeeper as a person. Call them by name and treat them with respect. Don’t be awkward or demining. Actively engage with them. Don’t get too personal, don’t pry, but you can gently probe. When they sense you are a professional and respect their position, your ability to accomplish your job increases. Treat Gatekeepers Like Gold.
  1. BE HONEST because integrity counts. They are honest, and they leave nothing for the listener to disagree about in evaluating if they will send you along (to the person or a voicemail). Be direct but truthful about the purpose of your visit and why you hope to connect with them (remember, you are there to help THEM make money).
  1. Practice good communication skills; learn to listen more than you speak, and be prepared with a simple, rehearsed script of why you are calling/visiting. Let the gatekeeper take the opening position. Listen carefully to their thoughts and concerns. Great negotiators learn to flip the discussion around politely and quickly – then ask.
  1. Relax! If you are nervous, stressed or tense, you will show those emotions and it might transfer to your voice, your behavior and your choice of words. If you are stumbling for words or for control of yourself, this will have an impact on how the gatekeeper perceives you and how they receive your request for access or information. Take some deep, slow, quiet breaths to put yourself at ease. When the Gatekeeper answers or greets you, smile and confidently tell them with energy and ease why you are calling (or visiting the office).
  1. Keep it short and sweet: no long speech for the gatekeeper. They have great deal of important information about the potential cash buyer or real estate agent. The gatekeeper has positional power and influence. One of them has the power to connect you with the right person. However, they do not hold any authority. When the gatekeeper asks, “may I tell him/her what it’s regarding,” it is not the time to fill in the gatekeeper. It will waste your time and it might irritate them because they still cannot make the decision. Using a relaxed and calm voice, speak slowly and articulately and don’t divulge more than necessary.

6 Ways to Use Facebook to Build Your Real Estate Business

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6 Ways to Use Facebook to Build Your Real Estate Business

You have probably noticed plenty of advertisements for various products and services on your Facebook page every time you log in to your account, and you may have even clicked on some of these ads to learn more about it.  Initially, you had no plans of buying, but because of the time you spend on Facebook and the frequency of these ads passing your page, you somehow found yourself convinced and planning to purchase. 

The use of social media such as Facebook as a means to platform your real estate business will prove to be one of the best moves you ever make.  According to a recent study, Facebook is the most used social networking media among real estate professionals and other businesses because literally almost everybody has it, and you can easily spread the word about your business through ads, conversations, or by creating a business page.

By harnessing the power of Facebook, I have found these tips helpful to building my real estate business.

  1. Be Visible

First things first, setup a Facebook page for your business.  Make your presence known by sending invites to “LIKE” your page to your contacts and clients.  Ask family and friends to share or recommend your business page.  Having your presence known makes it easier for prospects and clients to connect with you, increasing customer retention and loyalty.

  1. Post Stunning Photos with Detailed Captions

Make sure that the pictures of real estate homes or properties you are posting are appealing enough to make it to sell.  People love beautiful things and there is nothing better to capture your prospective clients’ attention than beautiful pictures of the properties you are selling.  As an added bonus, people may even share them, making more people see what you are selling.

Don’t forget to post pictures of your buyers with their new home.  People love real life stories with happy outcomes!

  1. Share Interesting but Valuable Information Related to Real Estate

Give practical advice like how to increase the value of a real estate property through DIY projects or share links about interesting real estate topics.  Encourage people to interact with you by asking real estate trivia questions or by answering their questions about the real estate business.  Not only does this make your business page active and interesting to your followers, answering their queries will create connections with possible loyal clients in the future.  Fans and likers may even recommend you to people in need of your services if they like you.  It really pays to be helpful.

  1. Building Relationships with Your Fans and Likers

As I mentioned earlier, having conversations with your fans and likers creates a connection between you two and, in the long run, builds relationships.  Like any other relationship, trust and dependability are very important, especially in business.  In the real estate world you are not just selling houses, you are also selling yourself.  There are plenty of studies that show that people are more likely to talk and do business with you if you are warm, trustworthy and dependable.

  1. Post Regularly

Now that you have made your presence known in the Facebook community, being able to maintain a consistent presence may be a challenge when you are struggling with your busy schedule.  It is wise to always remember to incorporate it with your daily routine until it becomes second nature.  Other realtors make a big mistake by not continuing to stay active after setting up their business page, not realizing that Facebook is an interactive media platform.  By posting regularly, you are letting people know that you are still in business, and it keeps their interest in your page active.

  1. Connect Your Facebook Page with Other Social Media

After successfully launching your business page on Facebook, don’t sit back and stay content.  Facebook allows you to connect with other forms of social media, so take advantage of it by letting your followers know where they can find you.

3 WAYS TO SELL YOUR FIX AND FLIP QUICKLY

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3 Ways To Sell Your Fix and Flip Quickly

The worst thing an investor can encounter when trying to sell their investment property is to have it sit stagnate on the market. I would always suggest trying to have the property sold before you even finish with the renovations and start marketing your property before you even start renovations. The following are my top three ways to sell your fixer-upper quickly:

  1. Market the Property from Day 1: This means the minute you get the keys, advertise the property. Before the renovations even start, post the property everywhere. Online ads have become a new way for buyers to search out properties. Advertise it as a “build to suit” or “custom design your new home,” as these are attention-getting headlines. Let the buyers chose their style, color, layout, etc. I would advise that if you attract buyers using this method, have the contract written up and extend for the time period it will take to complete the upgrades. Also have them put down at least 3% of the purchase price as non-refundable earnest money, this way they will be committed to the deal.
  2. Market the Property to the Neighborhood: This is a simple technique I’ve found that helps sell a property quickly. Make some flyers about the property, and then on a weekend, walk the neighborhood (for your safety, don’t walk alone, take a friend with you). Knock on every door and let the neighbors know you are an investor and you are fixing up the ugly house and you want their help to sell it. Tell them that if they refer a buyer to your deal, then you will give them a $250.00 finder’s fee (the fee can be whatever you want). The majority of homes sold are by neighbors telling their family and friends about a house in their neighborhood.
  3. Run the Numbers Correctly: One of the biggest reasons homes don’t sell is because they are overpriced. Make sure you run accurate after repair values, and set a tight rehab budget. Get good comparables from your real estate agents. Be sure to not over improve a home, as this will not always get you more value and it will be difficult to sell at a higher price.

The methods I mentioned in this article have helped many investors sell their properties quickly. These tips can be applied to any area. Don’t be afraid to think outside the box when it comes to marketing your property for sale. Get creative and have some fun with it.

3 Ways to Market Properties to Cash Buyers

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3 Ways to Market Properties to Cash Buyers

We all probably know that cash transactions have been a rising trend in today’s real estate market. In fact, 30% of real estate sales are cash payments made by local and international buyers. It won’t be a surprise if paying cash for real estate properties becomes a more common practice than the traditional way.

Investors tend to favour cash buyers due to various benefits entailed with cash buying, such as people who have enough savings to purchase their dream home or are on the hunt for hot locations and are offering to buy with cash. There are a lot of reasons sellers are holding out for cash buyers and one of them is getting their hands on the money fast. A cash sale can be done in a matter of a few days with less paperwork and no waiting for loan approvals that could get denied in the end. Buyers can also save a lot of money on closing costs and other fees associated with a mortgage loan by paying with cash. Think about the money you would save on interest alone!

It is for these very reasons that plenty of investors are after cash buyers. So, where do you find cash buyers and how can you make your property stand out against other competitors? There are a lot of creative ways to make your property attractive to cash buyers but we will just narrow it to three.

“Old-school” or Conventional Method

Although the Internet offers a convenience that makes most people underestimate the use of selling their property the “old-school” way, there’s no denying the fact that prospect buyers still rely on their trusted realtor when purchasing a property. Hiring an agent to enlist your property could still be one of the best methods to sell your property quickly. Remember that real estate agents with years of experience have met and know a lot of cash buyers in the business.

Even by just putting a simple FOR SALE sign in the yard could be a good opportunity to attract a prospective cash buyer. You never know when one will pass by your area and notice your sign.

Attending real estate auctions, where there just might be a flock of real estate investors armed with cash looking for great deals, is another opportunity to market your property.

Internet Marketing Method

Post your property for sale on various real estate websites for all the world to see. There are websites where you will have to pay to advertise your property but there are also websites that will let you post your advertisement for free. Take advantage of using websites like Craigslist, Zillow, eBay classified and ForSaleByOwner.com as plenty of investors are on the lookout for deals.

Network with Other Investors

Make connections by contacting people in the industry to see if they know people who are actively looking for investment properties. Get in touch with people like building inspectors, appraisers and other people that often deal with buyers in the real estate market. Offer them referral fees for buyers they send your way.

To make your property attractive to buyers, you must be ready to sell it slightly lower than its market value. Although you might be getting a price that is lower than what it is expected to sell at, just think about the benefits mentioned earlier, like not having to go through the hassles of selling a property traditionally.

REO Properties: Marketing to Buy REO Properties

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REO Properties: Marketing to Buy REO Properties

Nowadays, the cost of purchasing a house or any real estate properties has skyrocketed so that people are now looking at other alternatives to acquire a property. A lot of buyers would search for properties at auctions and sales while others opt to buy bank owned properties in hope of saving money by getting a great bargain.

REO properties or real estate owned properties have been foreclosed by the bank or the lender after the previous owner failed to make payments on their mortgage loan.  These types of properties have undergone the necessary foreclosure process and are usually auctioned unsuccessfully, making the bank or the lender the default owner of these properties. The bank would consider these properties as liabilities that would need maintenance. If the property would sit long on the market, it would usually be found in a rough shape and in need of repairs. For this very reason, REO properties would sell for less than its average market value.

Where to Find REO Properties

Take note that even if the bank has many REO properties in their inventory, they will not advertise it for a very low price. If you are interested in purchasing REO properties, the best way to do so is to find a reliable real estate agent who will do the searching of REO properties for you from various banks or lenders and guide you on the right price. If you want to do the searching yourself, you could contact the lenders directly and ask for their list of REOs.

Making an Offer

Banks foreclose the property to recover what was owed to them by the borrower and although they would be eager to get REOs off their hands, be prepared to negotiate hard. There are other investors such as yourself also interested in making a great bargain, too.

Lenders would prefer cash offers for REOs especially when there are multiple offers for the property. Another reason lenders would prefer cash is because most of these properties need so much work that these properties cannot qualify for traditional financing.  Even though some banks may aprefer cash some would be willing to consider financing if the price is right. To increase the chance of landing your desired property, be prepared to make an offer closest to the lender’s asking price.

Savvy homebuyers will usually make an offer on an REO properties 20% below its asking price. Other buyers would rather get a great deal and offer more than what is expected than missing out of a great deal.

The bottom line is buying REO properties can be very stressful.  However, having your real estate agent to advise you will help you navigate through paperwork and legalities to shorten your negotiation process and make REOs a valuable investment for your portfolio.

Networking by Attending Foreclosure Auctions

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Networking by Attending Foreclosure Auctions

To most people, being a real estate investor is all about making a lot of money through buying and selling properties. Although that idea of real estate investing is not far from the truth, there’s more to it than that. To make it to the top, real estate investors need a lot of help from other people inside the real estate industry. That’s where networking comes in. Networking is the inexpensive method of establishing friendly and professional relationships with other people in order to increase their number of business contacts and future prospects.

One of the many networking events an investor must not miss is a foreclosure auction. Attending foreclosure auctions does not mean you have to join in the bidding. Instead, just get to know people. Because foreclosure auctions are a great way to acquire properties below market value, they attract a large numbers of local and non-local investors. You’ll meet serious buyers that are fast deal closers and pay with cash. These are the people you’ll want to network with and put on your growing lists of buyers. If you know someone attending a foreclosure auction, ask him or her to show you around and introduce you to different people.

For beginners or even seasoned real estate investors, having a database of people from the same business is very important in building a career. As like many other industries, the more people you interact with, the more business prospects you will get. It’s practically impossible to run a real estate business without the right contacts.

Referrals

Establishing strong business connections with the right people can be beneficial when starting in the real estate world. Accumulating a large network of real estate agents means getting many business referrals.

Mentorship

Business networking can offer a variety of opportunities such as being educated and mentored by people who have already made a successful career for themselves. Learning from these people with varying talents and techniques can help you and guide you in becoming a success investor.

Potential Business Partnerships

Networking is also a great way to meet other investors that could become potential business partners. Investors work, help, and makes deals with their fellow investors, so keep in contact with each other.
Meeting Service Providers

Reliable contractors can easily be found if you just ask around. Since most properties in foreclosure auctions are not in good shape, a skilled and trusted contractor is someone you want to have on your networking team.

Tips for Getting An Investment Property Ready To Sell

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Tips for Getting An Investment Property Ready To Sell

Getting an investment property ready to sell does not need to be difficult or stressful but somehow many investors find it becoming just that. Some investors become emotionally attached to their property, some become nostalgic and find it painful to let their property go, and some have difficulty selling a tenant occupied property. Regardless of the reason, when selling a property, the key is to keep things simple. The minute you decide to sell, you need to stay firm on your decision and your emotions need to stay out of it. Here are a few tips that can help make the process of selling your property easier and more stress-free.

Deciding to Sell

When deciding to sell an investment property, think of your property as an investment and figure out how to make a profitable deal out of it.
For Landlords, it can be quite a dilemma when you want to sell a property with tenants in it. Most landlords will want to wait until the lease or contract is over before selling the property because, typically, the fewer the people involved, the fewer the complications. Although a vacant rental property could mean fewer complications, whether or not you have tenants, you can still sell your property. It’s just a matter of finding the right buyer. There are new investors out there that would like to start their investing career by becoming a landlord, and buying a tenant occupied property might be just what they’re looking for.

Hiring An Agent

Find a real estate agent that you can comfortably work with. After all, they should have your best interests in mind. Real estate agents are very knowledgeable and can give sound recommendations for those that are new to real estate investing. Agents will evaluate your property and provide a CMA or comparative market analysis for your property. Make sure to choose your agent carefully since they will handle the legal requirements of selling your house. Agents are also in charge of the advertising, marketing, and showing the property to perspective buyers.

Preparing The Property

Make your property appealing by understanding your selling audience. Are you planning to sell your house to an owner-occupier or an investor? Different buyers will likely have different ideas on what to look for in a property. Prospect owner-occupiers need to “fall in love” with the property. If you can afford it, staging your property can do wonders.

Declutter unnecessary items to make your property spacious. This does not necessarily mean that you have to remove everything inside and present your buyers with a cold and vacant property. Buyers need to experience the property in its “lived-in” state without having too many personal belongings in the way.

Paint the walls with neutral colors. Buyers are usually excited to have a fresh start to their new homes. Give the place a fresh coat of paint to make your property look new and clean.
Clean the property. If the property is clean, it will smell clean. Unpleasant odors inside the property are a big turn-off to buyers. Pay special attention to the bathroom. If you can afford it, make it look like a spa. Fix holes in the wall, broken windows or anything that needs to be mended. Buyers need to see that the property is well maintained and, of course, nothing makes a property more appealing than cleanliness. It’s cheap and shouldn’t cost a lot money.
Make sure the exterior of the property looks beautiful as well. Don’t become the property that buyers refuse to enter because of an unkempt landscape. Boost your curb appeal by trimming the shrubs, painting the door and keeping the walkway clear. First impressions matter.
Not only will these preparation tips help you sell your property faster, they will add value to it.

Marketing to Cash Buyers

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Marketing to Cash Buyers

When you begin marketing to cash buyers, there are several ways you may want to go about doing it. You could set up a direct mail campaign or even send a postcard with some jazzy marketing hoopla. Of course, there’s also the option of using bandit signs, which our students have found to be wildly successful. As you can see, there are a number of ways that you can market to cash buyers, but before you begin your marketing campaign, whichever way you choose to structure it, it is important to know the mindset of a cash buyer. Over the years I have had the pleasure of working closely with several cash buyers on projects, and I’m going to share a unique look into the day and life of a cash buyer so you can have a better understanding of just who they are. When you know who your client is, you will better understand how to solve their “problem,” and marketing is all about letting your client know that YOU are the solution to their problem.

First of all, cash buyers are busy! They are on a timeline and they are moving as quickly as they can to get from point “A” to point “B,” and they do NOT like to waste time when they are working. A cash buyer usually has a time frame in which he needs to complete his “fix and flip” project, and he sets his days, weeks and months to be as efficient as possible. You won’t find a cash buyer lollygagging on social media or strolling through the mall. Cash buyers are precise and focused in their daily routine. They have their job planned from start to finish, and they know the specifics of how long each task should take to accomplish in order to move on to the next task. When you create a marketing piece or if you are simply calling a cash buyer, keep this in mind: Let them know that you are aware of how busy they are and that you respect their focus. If you can tell they are too busy to talk to you, don’t be offended. Instead, offer to call them back at a more convenient time for them.  **Hint Hint…this is an excellent way to illustrate to a cash buyer just how valuable you are to them. Also, let them know you will be finding them properties so they can stay focused on what they do best, flipping properties! Can you see how you can show them that you are the “SOLUTION” to their problem…? Even if they didn’t know it was a problem…? Yep, that’s called marketing!**

Next, remember that a cash buyer is all about his bottom line. He is good at what he does because he knows how to walk through a property, put together a budget for the property, and stick to it so that he can make a profit. A cash buyer has a box that he must stay in with each project. It’s not emotional; it’s all business. If the numbers don’t work, the answer is “no.” There is no need to take anything personal; it’s just the way he runs his numbers. The better you know how he runs his numbers, the more valuable you will become to him. A cash buyer also knows that there will always be little things that pop up that weren’t accounted for in the budget. However, a cash buyer will usually have given himself enough room on his profit to have a little cushion. When he is negotiating a deal, he is firm but flexible. He knows that getting a deal is better than not getting a deal. He also knows that he has competition, and he’s always on top of his game to put together an aggressive offer.

A cash buyer is also a master of project management. He knows where his time is best spent and what projects to leave to his experts. As he dives into a project, he is able to see where he can save a little time and money and then invests that time and money into something else that may have not been in his original plans. Any little details you can suggest might make you an invaluable part of his process. When developing rapport with a cash buyer, make sure you let them know you understand how important HIS bottom line is to you and that you will be negotiating aggressively to find him a smokin’ hot deal.

Staging Investment Properties

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Staging Investment Properties

In today’s market, property owners have found it worth their while to invest in staging their home when they plan to sell their property. Property staging is the art of decorating a property to help it sell faster. Statistics have also shown that staged properties are perceived to have a much stronger value meaning a higher selling price that would result in more money for the property owner.

Recent studies have shown that a beautifully staged property can draw in more potential buyers as it makes the property visually inviting to prospective new home owners. By creating an ambience of comfort and warmth, would-be buyers are given an example on how to plan out their own designs to use in the property rather than being presented with a large empty room.

You get one chance to make a first impression when trying to sell your home, therefore, it is really important that it is presented at its best. It is ok if you want to do the staging yourself but it does not necessarily mean that you can do it as well as a professional home stager would. Remember, staging can require a lot of time, skill, and energy so it would be wise to be realistic about whether you have the patience to take on this important task yourself or hire a professional. Here are some basic tips when staging a house:

  1. PAINT: Light neutral colors are recommended to help inspire prospective buyers in visualizing where to put their own household items in the house. Neutral colors are also the easiest colors to decorate with.
  2. CLEANLINESS: A clean, well-maintained property is always the first thing buyers will notice when entering your property. Scented candles will make the house smell good and clean.
  3. DE-CLUTTER: De-clutter and remove personal items. Home staging is beyond your normal redecoration. Do not forget that the house is now a commodity you are planning to sell and stop thinking of it as your home.
  4. FURNITURE: Buy or rent new furniture to replace anything old and shabby looking. Old, ugly, and outdated furniture can be an eyesore and could be the reason holding you from making a home sale.

Hiring a staging expert and how much it would cost would depend on the property and how much work is needed. Contact various home stagers and ask for estimates. A home stager will want to look in the property and make recommendations. It could mean stripping your house of all furniture and furnishing your property from top to bottom if needed to improve the appeal and marketability of your property. A professional home stager will showcase your property to make it stand out against its competitors. Although it sounds like it would cost you a lot of money, it is a wise investment. Staging your property will help you get the highest price for your property and help it sell faster.

Selective Tenanting Through Marketing and Promotion

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Selective Tenanting Through Marketing and Promotion

Tenants have a “Shelf-Life,” because they need to be replaced from time to time. They move on or you move them out. Show me a cash-flow investor with a two-year track record of making money and paying the bills and I will show you someone who bankers want to take to lunch and discuss low interest mortgages. There are plenty of rental properties where the numbers can work. The key is having quality tenants who take care of the property and pay their rent on time.

All the promotion you may need for a rental unit that caters to University students might be a giant big screen TV and computer with high speed Wi-Fi. A property on a busy street may only need a simple sign in the front yard. But, in most cases, to rent for top dollar and select the highest quality tenants you want to reach a lot of people in a hurry.

Response
Selective Tenanting Strategies

Anyone can throw money at the problem with lots of expensive ads. Here are some things you can do on a ZERO or near ZERO-dollar budget:

  1. Zillow.com/Rental-Manager – Here you can place a complete ad with lots of pictures and full disclosure information. You will get a link to your own page that you can even email to people while you’re visiting with them on the phone. Zillow may be the biggest name in real estate. I have never run an ad here that didn’t get my phone to ring.
  2. CraigsList.org – The secret is in timing. Place your ads at 11:45 AM and/or 6:30 PM so you can stay “above the fold” during peak view times. “Above the fold” means your ad can be see without scrolling. People click they don’t scroll. Do not repeat the same ad or anything close to the same ad before the required 48 hr. wait time. They tend to not post ads till they are “below the fold” for people who abuse their system.
  3. Print flyers that present not just your rental unit but puff up the neighborhood as well. The back of your flyer can include Elementary, Jr. High, and High School Principals or Vice-Principals contact information. Do the same for Churches, Boy Scouts, Girl Scouts, Town Hall Meetings, Health Clubs, Little League, Police, Fire, etc.
  4. Be creative in where you place your flyers. Got a washer and dryer included? Hit the laundromat bulletin boards. Got the big screen TV? Hit the University bulletin boards.
  5. Visit other rentals especially where your property appeals to a different kind of renter than they cater too. They could send you leads. Visit the Section 8 Housing Department. They will give you the lay of the land on how to work with them so you can have half or more of your top dollar rent put in your checking account on the first of each month.

 

Regardless of how you market or promote for tenants, your future depends on getting good tenants who take care of your property and pay you on time. History repeats itself so here is what you can do to protect yourself:

  1. Have prospective tenants fill out and sign an application allowing a credit report.
  2. Run a credit report. Anyone under 600 probably has late rent pays.
  3. Walk out to their car with them and see how they take care of their car.