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Hi! It’s Lou Brown. I’m back with another of my 101 cash flow accelerators helping you to build an amazing real estate business. And one of the things I’ve learned over the years is that different mortgage brokers have different lenders. And many times if my client is getting their own mortgage broker or lender, they might be turned down for the loan and that cuts me out of a sale. Well, I’ve discovered that if I go ahead and put in my agreement that, that seller has the right to substitute a lender for the buyer if they’re turned down for the loan, then I could even substitute myself as the lender if they were turned down.
Hi! It’s Lou Brown. I’m back with another of my 101 cash flow accelerators. And one of the ones that is very important for your future is when you can “Control The Closing”.
Listen, I’ve learned over my years that when it’s my title company or attorney that’s closing the transaction, then I am a lot closer to any issues that might be happening around getting that closing done. For example, let’s say that something weird popped up in the closing when they inspect the title. And it’s something that could be easily fixed. But if I don’t have a relationship with that title company, it might be something I don’t find out for days. It could impact the closing. There could be real issues that I’m not abreast of. So I like to know exactly who’s closing the transaction and that they are a member of my team.
Hi! It’s Lou Brown. I’m back with another of my 101 cash flow accelerators to help you build an amazing real estate business. And one of the things I discovered along the way, is number 91. “Have the buyer pay all closing costs”. So, it’s all related to, when you are selling the property, many times the buyer will pay some or all of the closing costs. Now you may be used to when you sell a property, you expect the agent to put in the contract that the seller is now going to have to pay up to 3% of the closing costs.
Hi! It’s Lou Brown. With another one of my 101 ways for real estate investors like you to win and close more deals to accelerate your cash flow. Today’s tip is number 1. And let’s see what it is. “Have a plan of action such as a business plan before you start”. Well, it’s a funny thing. I’ve worked with real estate investors all across the country and for many years I’ve been teaching since 1987. And one of the things I discovered is that a lot of people, whether they’ve already started or just getting started, don’t have a plan. Now, what I mean by plan is you got to figure out what you’re up to. What are you trying to create with your life, with your business? And one of the things that I always think about is the fact that when you get on an airplane, the oxygen mask drops down.
Hi! It’s Lou Brown. With another one of my 101 ways for real estate investors like you to win and close more deals to accelerate your cash flow. Today’s tip is number 2. “Avoid competition by creating outgoing leads. Example: called divorce and probate attorneys.” Alright, let me explain. It’s a very competitive thing out there in real estate and there’s a lot of competition that is already mailing certain lists. They’re already doing things in your marketplace. What I teach you are, know competition deals where you’re getting deals that other people don’t even know about. Never went on the radar. Nobody ever saw it coming. And you got a great chance to just get a deal and you’re the only market for it. So how are we going to do that?
Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win and close more deals to accelerate your cash flow. Today’s tip is number 3. Let’s see what it is. “Get help. Use bird dogs that can bring leads, knock doors, and follow-up on leads you give to them”. Now, what do I mean by that? Well, listen. If you’re really going to build a team, if you’re going to build a flow of leads coming to you, it’s amazing that in every neighborhood, sooner or later somebody’s going to need to sell that house. Not want to sell that house, but need to sell that house. Sometimes it’s because a family member passed away and they need to get rid of the real estate because the inheritors just already have a home and they don’t need another one. Others are because they’re in some kind of emergency. Maybe they just got a job transfer and they need to move someplace else.
Hi! It’s Lou Brown. With another one of my 101 ways for real estate investors like you to win and close more deals to accelerate your cash flow. Today’s tip is number 4. “Knock on doors of those in foreclosure”. Now, be careful. In your state, there may be restrictions to approaching people in foreclosure. Find out. But there’s only a couple of states in the country that have a problem with that. The rest of the states have no problem. And if you think about it, when does somebody really need you? They need you when they’re having an issue. Maybe they lost their job, maybe something happened in their life and they just need to be rid of this problem. Of this real estate. You can step in, maybe you can reinstate the loan. Maybe there are things that you can do to take over that property and take care of the issue.
Hi! It’s Lou Brown. With another one of my 101 ways for real estate investors like you to win and close more deals to accelerate your cash flow. Today’s tip is number 5. “Send letters and postcards to out-of-town owners.” Well, you may have heard that one before and some of you may have actually done that before with not too much success and I can understand why. Because a lot of investors are cheap. And they go for the cheapest price for the list. We’ll let me explain the list is the most vital thing you can do, is get a good list. So you want to get with a good list broker that actually can determine if that list is oversold in your area. If so, they can customize a list for you. We have such a thing. In fact, our clients love our mail home wiz program.
Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 6. “Market to newer neighborhoods where the owners have little or negative equity.”
Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flow. Today’s tip is number 7. “Use signs to direct incoming seller leads to your investor websites or your telephone system.” Now I’ll tell you that signs have been amazing in my career and when I got started in this business there was a lot of competition and let me tell you, people used to put a lot of signs on telephone poles, so if you have ever seen signs on telephone poles it would say.
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