1 Simple Way to Flip 3-4 Deals a Week (So Simple, It’s Almost Obvious)

Caption Obvious Cartoon FgureHey kids! What time is it??

Yup, it’s time for another titillating episode of, “What clever deal-getting thingy did JP learn from Joe McCall this time?”

In previous episodes, we learned Joe’s “landlord sneak attack” trick for getting deals, and his 8 steps for wholesaling lease option deals. Check ’em out.

Today’s installment so darn simple, so seemingly obvious… that it’s cleverness and sheer power could be easily missed if you breeze through it too quickly. But look a little closer, and you may just have a light bulb blink on over that pretty little head of yours. Might even make you kinda mad you didn’t think of it.

Quick context: I’ve mentioned before that Joe and I are buds and get together for one reason or another a few times yearly. But this little nugget of awesome actually came out in a private, formal interview we did together recently in which I was grilling him for deal-getting ideas. The whole conversation was really eye-opening, but this little nugget was freaking brilliant if you ask me.

Joe first got this idea from a guy he knows who’s been doing this in a major metro city down south, and it’s literally his only way of getting deals. With this singular tactic, consistently executed, he’s getting 30-40 qualified leads per week, and consistently wholesaling 12-16 properties per month. With this one tactic.

Got your attention yet?

So… Ready to learn one simple way you can easily flip 3-4 deals a week? Course you are…

So Captain Obvious, Let’s Undress This…

Captain Obvious saying, "Jp, why didn't you think of this?"

Question:

So, if this this tip is practically common sense, how the heck did we miss it?

Answer:  

The obvious is that which is never seen until someone expresses it simply (well said by Khalil Gibran). So let’s explain it simply…

Step 1: Monitor real estate sites for new properties listed in your “farm” market.

Nothing too tricky here. Just keep a steady eye on the popular, mainstream sites like Zillow, Trulia, Backpage, Craigslist, and Realtor.com. Whatever pops up new for sale in your farm area(s) is your target.

And you’re looking specifically for non-owner listings here. So Realtor or property manager listings, or even landlord or wholesaler deals. Basically everyone except the individual homeowners selling their house for sale by owner. You’ll see why in a sec.

Step 2: Call them up, introduce yourself, ask about their properties…and any other properties.

So the deal is, you’re not specifically targeting listings that smell like they might be a good deal for you – you’re targeting every, single, solitary listing that pops up in your farm area. Why? Because ultimately this tactic not about that specific property. It’s about…

  1. Starting the conversation,
  2. Making a personal connection,
  3. Finding out if there are any other deals they might know about that could be a potential investor deal,
  4. And most importantly, getting their email address (more on this one in a minute)

So basically you’ll just rattle through a quick script, something like:

Hi, how are you? My name is Amanda Hugankiss and I noticed your property listing on Zillow. Can you tell me a little more about it?  

(Listen patiently, let them talk a while, then…)

OK, well I’m an investor, so I’m not sure this one’s quite right for me. But here’s the deal, I am actually always looking for deals to buy that meet my specific criteria. Would it be OK if I shared with you real quick a little more about what kinds of properties I’m looking for? And then if you know of anything or run across anything that would be a good fit, I’d be happy to let you represent me and give you the full commission. Even if I get it at a big discount, I’ll still make sure you’re taken care of nicely. Would that be OK?

Nine times out of nine, they’ll tell you they’d looooooove to hear what you’re looking for and possibly refer you deals. After all, this is what they do.

And remember, you’re not asking them to jump through hoops or even spend time looking for deals for you… you’re just inviting them to hear what you’re looking for, and then keep you in mind if/when they ever run across something that would work. Total no-brainer.

So then you just tell them what kind of deals you’re looking for, like distressed properties, probates, short sales, or whatever your game is.

Quick side tip: If they have properties listed for rent, ask them if they think the landlord might be interested in selling.

Step 3: Get their email address. 

I know it may seem simplistic, but stay with me.

After you’re done spilling your criteria, regardless of whether or not they have anything even remotely interesting on their radar, make sure you ask them,

Would it be OK if I followed up with you every once in a while, in case you have anything I might want to buy? What’s your email address?

Boom. More than anything else, this is the main point of the entire phone call. You’re about to see why.

Step 4: Promptly enter their email into your automated email robot service. I’m talking about an email broadcast / autoresponder service, like Aweber, MailChimp, Get Response, etc. There are many different providers our there at varying price ranges, but one of Joe’s favorites for this is MailChimp because an entry level email broadcast account is free.

Basically your goal here is to start building a list of local real estate agents, property managers and investors, with whom you can stay in constant contact moving forward.

Side note: Don’t forget to track which real estate agents you have already contacted. You don’t want to waste time or be an annoyance duplicating the same process again. Maybe keep a running spreadsheet of names and emails, and do a quick “control+F” search before you call or add someone new.

Step 5: Send out emails every single week. 

Simply write a personal, short and sweet message that goes something kind of like this:

“Hi Stacy, Amanda here – we talked last week. I was just wondering if you had any deals that may interest me? If so, let me know please. I’m happy to look at anything that meets my criteria. Thanks.”

Then each week without fail, rinse and repeat – send another email. Nothing too complicated, just a one sentence email, maybe two or three sentences tops. And make sure you mix it up every week. These emails shouldn’t sounds canned or fomal, they should sound real and personal.

A few other examples:

“Hey, Stacy. Just checking, do you have any deals? I’m still looking… :- )”

“Hey, just checking in again. If you have any burnouts or probate scenarios hit your radar, I love those. Please let me know.”

“Hey, just wondering, got anything new I might be interested in? I’m looking for one this week. As a reminder, here’s my criteria…”

“Hey, just checking in again. If you have any burnouts or probate scenarios hit your radar, I love those. Please let me know.”

“Hey, I still need to buy 1 or 2 more this month. Please let me know if you have any junkers or distressed situations pop up in these three areas…”

You get the idea, right?

Handy Tip: Your autoresponder service will have a way you can insert a little ‘short code’ into the email where the person’s name should be. This will help you write and send only one email, but ensure it’s personalized with the first name of each person on your list.

Step 6: Wait for it……LEADS!

It stands to reason that as you do this daily, your list of real estate folks will grow quickly. And these folks have their hands (and awareness) in real estate opportunities that you’d never have otherwise had on your radar, right?

So basically, what you’re accomplishing here is top-of-mind awareness. You’re politely conditioning them to think of you first when a sweet investor deal hits their radar. You’re gently reminding them of what kinds of deals you’re looking for, and of your ability to step in and land those deals, and get them compensated easily in the process.

It’s called, “Harvesting Mind-Share” and with each week’s email, you’re harvesting just another little piece of it for yourself.

I think you can see how, once you have compiled a nice sized list that you’re staying in constant contact with, the leads should start flowing in, and the deals will be a natural byproduct.

OK, Time for Some Next Level Thinking

OK, a couple of things that’ll really make this very easy process even easier and even awesomer for you.

Thing #1: Write all your emails in advance.

There’s literally no reason whatsoever for you to have to sit down every week and actually write, then send these emails. All the services mentioned above include an autoresponder feature, which lets your write emails today, then queue them up for far into the future.

So sit down and write out a year’s worth all at once — that’s 52 emails, right? These are short, easy emails. This should take you like a couple of hours tops.

Then create an email campaign with each email spaced exactly a week apart.

Then whenever you add a new lead to the email campaign, they’ll automatically get email #1… then next week, email #2 automatically goes out to them… and the rest happens on autopilot, with zero involvement from you or anyone else.

(Insert Kip voice) “Oooooh, I love technology… but not as much as you, you see… but still, I love technology…”

Thing #2: Outsource the heck out of this.

Maybe it’s a no-brainer for you or maybe it’s not. But I’d be remiss if I didn’t point out that it doesn’t have to be YOU calling these people and adding them to your email database every day. This is something you could easily train (i) an assistant, (ii) a family member or even (iii) a virtual assistant to do for you.

You simply write a good script for them to follow (keep it simple, naturally) and make a screen-capture video one time, showing how to add them to the email service.

I’m telling you right now, Joe McCall doesn’t do anything anymore that he can get a $5 an hour Filipino to do for him. So think about that.

It’s All About the Benjamins Marketing

I’ve said this a number of times before, but it really can’t be over-emphasized:  You’re not in the real estate business, you are in the marketing business.  Leads are the life blood of your business.

So if you are not doing enough marketing (and doing it consistently) then your business will sputter along at best, or even worse, die a slow, miserable death.

But your steadfast commitment to ongoing lead gen doesn’t mean you have to spend a ton of money doing it. You don’t necessarily have to spend thousands of dollars a month on postcards or yellow letters. Sure, it helps. Definitely not a bad idea. But there’s a lot heckuva lot of marketing out there you could do for free (or very cheap) that works really well too.

This is one such tactic, and it’s ridiculously easy to deploy, isn’t it? It’ll take you like a couple of hours tops to pound out a year’s worth of short emails to queue up. Then just add people to the autoresponder as you go, and let the momentum begin.

I hope you guys had a “A-ha” moment or two and that challenged your noggin a bit. Talk to ya soon…

The End

PS- Cool Points for Comments

Yep, I am passing out 10 cool points to everyone who makes a comment, 15 if you have some major insight or a mind boggling question, and 100 bonus points if you can find a way to use the word “moist” or “flaccid” in your comment.

What are cool points really worth? They just make you seem really cool in my mind.

About 

JP Moses is a roughly-hewn man-child who first got into REI after reading Rich Dad, Poor Dad back in Y2K and went full time in 2002. He's tinkered in everything from landlording to short sales to rehabs to Realtoring to REOs to notes to owner financing, blah, blah, blah...Till he finally stuck his flag deep into wholesaling and has since flipped somewhere north of a couple hundred deals.

JP's not a “guru” but also doesn't think it's a bad word. Among his core values are authenticity, creativity, big honkin' value, general fun-ness and being unshaven. He's super proud to be chief blogger guy at REItips.com and host of the free REIology podcast. He also thoroughly enjoys sharing his 53 best real estate investing forms with anyone who wants them. You should totally check that out. 🙂

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Roger Reply

First of all thank you for your tips.
How can one use this same method to find investors.
I have tried emailing landlords looking for investors. 800 so far with only one response.
A very short email asking if they are looking to purchase other properties in the future.
Thanks
RG

Jay von Mohr Reply

At first I was flaccid when I started reading your article. But then I was really quite moist by the end. Great info JP. Thanks, – Jay von Mohr

JP Moses Reply

200 points to Gyffindor and Jay von Mohr!

JP Moses Reply

HI, Roger. Not sure how you got the landlord’s email other than through their Craigslist ad. Maybe your message felt a little too much like Craigslist spam to them. Try calling them up on the phone and mailing them a letter. Get a list of Section 8 properties from your local Sec 8 office, then call them up personally…introduce yourself as a “fellow investor”, who noticed they owned a property in the area, and ask if they’re looking to pick up any others if the numbers are right. Approach them as an equal. Make sense?

Kelly P Reply

I can’t even. This is brilliant. Thanks for sharing!

Jodi Reply

OK, just to clarify, with Mailchimp Free account, it seems autoresponder function isn’t available. Just manually send email campaigns weekly then? or am I missing something? I don’t want to make a flaccid attempt at this- if I can do it automatically, I will do much better. …I just can’t bring myself to use the “M” word…

JP Moses Reply

50 points for Jodi! 🙂 Yes, you’re correct, the free mailchimp account will only let you do broadcasts, not autoresponders. I think you have to pay around $10/mo to include autoresponders. Bet you make a least that back on your first deal, though 😉

Roger Reply

Thanks JP,
I agree that even though message was personal in craiglist they may have felt like spam. Thanks for the other ideas.
RG

Daria Carter Reply

yes MailChimp is free…

Garrett Reply

The simplicity of this tactic is beautiful. Implementing ASAP

Mary Reply

Thank you for this informative article. I never know what to say and so these tips help greatly. Keep up the great work, thank you again

Lisa Reply

Thanks for the great information! Quick question, when they begin to send you leads, since it’s through a realtor, will I be required to put down $1,000 earnest money for each lead? Thanks again!

Jon Mason Reply

So I’m seriously considering this idea. One thing I discovered is that mailchimp requires an unsubscribe link at the bottom of all their emails. I think this ruins it because the beauty of this is obviously that it seems like you’re emailing them every week yourself. I found that unless the email is “transactional”, it has to have an unsubscribe link according to spam laws. So the trick is to find a mailing service that does transactional email. There was one service I found called SendInBlue that advertises transactional email, but if you want their branding removed from the email you’ve gotta pay at least $39/mo right out of the gate. I’m a developer, so I’m considering writing my own, but I think my time would be better spent focused elsewhere, so I should probably just pay the money and use SendInBlue. Anyway, hopefully that helps someone out who’s reading this.

My question is this….When I’m calling my leads for wholesaling, I’m trying to avoid listed houses and realtors. Can you explain a little more of the angle here? So when you’re buying one of these houses, you calculate the discount on the house, then you subtract your wholesaling fee, then you subtract your realtor’s commission to get the end offer? You still assign the contract like usual with these?

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