In science, as with all things in life, there are laws that govern how things work. For any endeavor, when you apply these laws, there will be identifiable results. It’s no different with attracting success in real estate. There are Five Key Steps to becoming wealthy in real estate investing. These are very specific strategies that, if you follow them, will guarantee a successful return. If you have these five steps in order, you’ll buy and sell 25 houses or more per year, and earn at least $ 500,000 a year, all while working 15 hours a week or less. The first step to follow is having Effective Marketing in place that attracts motivated house sellers. There are two ways this will happen:
They find you.
You approach them as a buyer.
Which way would be more efficient? Of course, it’s much easier for them to call you as opposed to your labor in finding them. Additionally, when you are soliciting them, they are in control from a psychological point of view. You are demonstrating a need, and that puts them in a position to leverage that need.
We’ll look at two low-cost, effective marketing mediums to attract motivated sellers to call you:
Newspaper Classified Ads (Real Estate Wanted Section-Daily)
Bandit Signs (Yard and/or Road Signs)
Classified Ads in the Real Estate Wanted Section
Run an ad daily in the Real Estate Wanted section of your local newspaper(s) 365 days a year. If your local newspaper doesn’t have a Real Estate Wanted section, ask them to create one. If you tell them that you will be running an ad every single day, it’ll be worth their effort. Also, this ad will buy more houses and definitely outweigh any cost that you initially put into it.
In some places, it costs $ 300 a month, and in other places it cost$ 1500 a month. Quite honestly, it doesn’t matter what it costs. If you buy and sell just one house, that ad just paid for itself and then some. Here’s what the ad should look like:
Sell Your House Fast! Quick Sale – Fair Price (707) 555-1212.
The first letter of each of these words is capitalized. Make sure you specify House in the first line and not Home. People are attached to homes, not houses, and we want people who want to get rid of their house. Do not capitalize everything because it’s harder for the eyes to see. It is psychologically proven that when you only capitalize the first letter, and the rest of the letters are in normal type, it’s much easier for eyes to capture when people are only looking at it for a second or two. This is proven marketing.
With numerous ads in the Real Estate Wanted section of the newspaper, how are house-sellers going to notice yours? Simple. Put a blank space at the top and bottom of the ad, so you’re actually going to be paying for a six-line add, even though you only have words in the middle four lines. A reader’s eyes will be drawn to that ad automatically. Your ad sticks out like a sore thumb.
The second most effective way to attract motivated sellers is bandit signs. These are the little road signs everyone’s seen driving around. The signs should be yellow with black lettering, 18 inches high by 24 inches wide, and you want to use the entire space of the sign for the information to stand out. And they are going to come with a little wire stake. The bandit sign is going to say exactly the same thing as your classified ad.
The downside to bandit signs is that some towns and cities may have ordinances that don’t allow them. You’ll have to check your local laws to see if this applies to where you live. I suggest you still order 100 bandit signs, put them up, and if there’s a problem, someone will let you know. You can claim ignorance, and you will definitely get a lot of calls from homeowners looking to sell. Bandit signs are worth the minimal risk.
Most people do not have the courage or the vision to put out the money to apply marketing strategies, and that’s why they don’t buy and sell houses, and make more money than they fear to lose. But one ad or bandit sign alone will get you at least 10 to 15 houses bought and sold per year, and it will save you the time and effort of going out and looking for prospects.
Chances are, if you’re reading this you’re looking for an edge in real estate investing. If so, sign up to receive a free 30 minute success coaching consultation or to attend one of my upcoming webinars and learn why 97% of real estate investors fail; and how to fix it at http://www.timtaylorsuccesscoach.com.