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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.
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 8. “Look for vacant properties needing repairs. Find the owner. Use a skip tracer.” Alright, so vacant properties exist in almost every neighborhood. Some of them don’t look so vacant. How can you find out if they’re vacant or they’re not vacant? Get in a relationship with the mail carrier for an area. And one of the things I teach you to do is create a target market. The target market is so important because there are relationships you can build in a target market to find deals that nobody else knows about. One of my favorite things is no competition deals. I’ve identified over 200 different ways that you can or 200 different ideas on how you can find deals that other people don’t know about.
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 9. “Use a credibility kit. Give the seller a reason to do business with you”. Now what I use is something that I designed many years ago. You know, I come from a sales background. One of the first jobs I ever had was in sales. And one of the most powerful things I learned is that, if you have a story to tell and you make it through and explain exactly who you are, what you do, how you operate to a seller, then they’re much more inclined to do business with you. Or someone who might be buying from you, much more inclined to do business with you. So I created a seller presentation kit, a buyer presentation kit, a lender presentation kit.
Hi! It’s Lou Brown. With another my 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flows. Today is tip number 10. “Always have the right contract with language to protect you and yield all the possible profits available”. Well over the years, of course, I’ve been in this business now for over 40 years. And I’ve learned a lot of things about what to do and what not to do. And I can tell you that one of the most powerful things I ever learned way back, in the beginning, was to have the right paperwork. And I’m not talking about a Standard Realtors Agreement. Because the Realtors Agreement, first, is designed to protect the realtor. Second, to protect the seller. And third, to protect the buyer. What I found is that I really needed two different contracts. I needed a buying contract and I needed a selling contract. And I needed one that had negotiation built into the paperwork. And I needed one that had profit centers built into the paperwork.
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