Real Estate Investing On Steroids: How To Close More Deals
It is necessary to have a constant flow of deals to maintain a successful real estate investing business. However in the process, the resulting work you create can end up leaving you overwhelmed and over-worked.
To maintain a good number of deals that you close, it is therefore necessary to work smart.
In this article, we look at some critical areas that can help you achieve this goal. A constant flow of deals must be maintained to have a successful real estate investing business. But you end up creating more work and getting overwhelmed by work you create in the process.
To maintain a good number of deals that you close, it is therefore necessary to work smart.
In this article, we look at some critical areas that can help you achieve this goal.
1) Phone
When your phone rings off the hook and you have other business to attend to, life can get pretty hectic. All the leads generated by your marketing must be directed to a phone number answered by an answering service, a virtual assistant or voice mail.
In other words, marketing calls must be handled separately from other calls. You end up increasing efficiency and conversion.
In my business, motivated sellers must be motivated enough to leave a voice message. A virtual assistant then calls them and pre-screens them for me and submits their information on my real estate investor website.
2) Outsourcing
Lots of real estate investors micro-manage everything in their business. You can only do so much in a day of 24 hours.
Things will flow much more smoothly if you allow professionals to handle different parts of your business.
These are just people that handle different parts of your business; they are not your employees. For example, you can delegate title search work to your real estate attorney or closing agent.
3) Hiring
If not handled right, this can get expensive. For a few years now, most of my work is done by part time employees without having a physical office.
My motivated sellers are pre-screened by a virtual assistant. She also does some of the paperwork for me, or running some errands. Every week, she invoices me for the hours she works for me.
Though she is not my full-time employee, she does a lot of work for me as demand arises.
You can get more than 100 applicants by running a simple ad on Craigslist.
4) Direct mail
This leaves a lot of people overwhelmed. My post cards come from overnightprints.com or printsmadeeasy.com or Vistaprint.com.
For around $300 to $350, I get 5000 high quality glossy post cards. These are enough for a lot of marketing. Of course you can buy more if necessary.
I then print mailing labels using mail merge on Microsoft word and excel. I only spend about 20 minutes on this every week.
The labels and stamps are done by kids and I drop off the mail at the post office. I can therefore control when my mail goes out and manage it accordingly.
If you send letters, you might need more help to make things easy and cheap. I bought mail processing equipment cheaply that makes my work easy.
5) Automation
It is an absolute must to have a real estate investor website that automates real estate investing tasks for you. The website tells your story for you before they every pick up the phone, increases conversion and delivers leads that are already pre-screened for you.
When you are investing in real estate, automation is a necessary component that increases your efficiency and conversion. Find out how an interactive website for real estate investing can help you close more deals while spending less time, money and effort.
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