In this episode, Blair and Jeff talk about the benefits of joining the "Done for you" program and give us a business update. They have eight contracts of remote deals waiting to be signed. They have figured a way to get them signed and back faster!
Having a meeting at the house with the seller in person is very important because it forces them to make a decision. Simulate that in-person meeting using a mobile notary.
Another thing they emphasize is when broadening and geographically targeting your real estate business on Facebook with the motivated ads, the lead costs drops dramatically. Sometimes it runs as low as three dollars per lead; their target is twelve to fifteen different states throughout the Southeast and Midwest.
They also talk about how difficult it is to generate leads when advertising through digital marketing in competitive markets. Learn why it's best to start with cheaper leads to gain practice, and when doing business locally, do a lot of networking.
They go over the standard purchase and sales agreement and tackle in-depth two things: how to fill in the contract when buying a property subject-to with an existing mortgage and how to negotiate a low purchase price for a property in foreclosure and with some equity. The secret is using a net equity worksheet to define real numbers and split the profit with the seller.
Mentioned Resources:
In this episode we covered:
About Blair:
Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.
Multimedia:
