Real Estate Investment How-Tos & Secrets| InvestSteps.com

Nov

19th

How To Find Motivated Sellers In 5 Steps – 2

Written by Bill Ross on November 19, 2009 — Leave a Comment

The second step a real estate investor needs to learn to find motivated sellers is how to create a compelling message.

When you start marketing to the different lists you found in step one it is important to create a message that will get your prospects to respond. It is critical that you separate yourself from the competition. Otherwise the prospect will see you as just another investor trying to buy their home.

To create your marketing message you need to start with the end in mind! In other words you need to define your goal. Most likely it will be something like this – To get the most motivated sellers to contact you first! The way to accomplish this goal is to entice these potential sellers with benefits that are geared towards their specific needs.

Whether you like it or not, people are only listen to the station "WIIFM." You’ve heard of that radio station, right? If not it stands for "What’s In It For Me?" If you don’t answer this question, no one will respond to your marketing efforts.

Also, realize that sellers in different situations have different needs. What this means is that you need to create unique marketing messages for each list or prospect you are marketing too! You can’t use the same message for a probate prospect and a pre-foreclosure one!

The next thing your message must have is value. People don’t want to be pitched. What this means is that your marketing material should educate the prospect by giving them important information and leave them wanting more. The idea is to position your self as consultants not salespeople. Being seen as a consultant will separate you from all the other investors that advertise that they buy properties for cash.

Getting this right will open the flood gates and leads will start pouring in.

Popularity: 80% [?]

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Nov

17th

How To Find Motivated Sellers In 5 Steps – 1

Written by Bill Ross on November 17, 2009 — Leave a Comment

The first step to finding motivated sellers for your real estate investing business is to target your marketing!

Lets face it. In todays economy no one can afford to spend a fortune on advertising that does not work. So you have to approach your marketing efforts from a guerrilla point of view.

You have to be smarter than your competition and you must find creative, low cost, high impact ways to bring sellers to you.

So how do you do this right? The answer is by targeting your marketing to the sellers who have the highest likelihood of being motivated to sell at a discount.

Therefore, you must start by identifying the motivated sellers. We define a motivated seller as an owner that has a problem that a real estate investor can solve! The vast majority of the time the problem is a financial one but there are other reasons as well. What you need to know is that if the problem is significant enough the owner will want to get rid of the property quickly and at a discount.

Your job as a marketing investor is to identify these groups of sellers and marketed to them. The tried and true method for doing this is by mailing your offer to lists of people with the motivations stated above. Lists to consider are, pre-foreclosures lists, bankruptcy lists, probate lists, tax lien lists, fire damage property lists and eviction lists. There are countless places you can get these lists and one example is NextMark.com.

Popularity: 84% [?]

Posted in Fix and Flip, Foreclosure Investing, Probate Investing, Property Investing, Short Sale Investing, Tax Lien Investing, Wholesale Real Estate | Tagged 5 Steps, banckruptcy, Bankruptcy, Countless Places, eviction, Finding Motivated Sellers, Fire Damage, Fix and Flip, foreclosure, Foreclosures, Fortune, Guerrilla, High Impact, How To Find Motivated Sellers, Investing, Likelihood, lists, Marketing, Marketing Efforts, Motivated Seller, motivated sellers, Motivations, Point Of View, pre, probate, Property Investing, Real Estate Investor, Short Sale, Target Marketing, tax lien, True Method, Wholesale

Nov

16th

Commercial Loan Modification

Written by Bill Ross on November 16, 2009 — Leave a Comment

Are you struggling in todays real estate world? Are you a real estate investor, Realtor, loan officer or just someone who sees opportunity in this market?

Well, I have a secret for you!

Here is the deal. Would you like to be able to go back and see the crashing real estate market before it happened? If you could do you think you could have found a way to profit from that crash? I do and I have a crystal ball just for you as you read this!

Everyone knows that the commercial market follows the residential one, right? Well you have probably heard how much trouble commercial mortgages are in right now just like the residential ones are and were initially. This is not the main focus on the news but its true. Commercial properties are foreclosing in huge numbers.

But there is a difference in the commercial loan market that is not true of most residential loans.

The vast majority of commercial loans are written with a ballon payment. This is when the full loan amount is due on the mortgage after a certain period of time. In the majority of commercial loans that is between 3 and 10 years. Unlike a 30 year residential mortgage, commercial property loans are for a much shorter term.

Here is where the problem lies and the opportunity!

If you own a commercial property in most cases your property value is less that what you owe on your loan. Just like many in the residential crises. However, people with a home loan could if they choose to stay in the home and continue to pay their mortgage for years to come because few have a ballon payment.

But commercial property owners can not just keep paying the loan payments. Why because once the term is up, lets say 5 years, then the full loan amount is due. However, because they are underwater with their loan they can’t refinance like would be the case in a healthy market. Banks will not lend them the money. So unless the owner comes out of pocket they get foreclosed on! Its just that simple.

Here is your opportunity. There are a few high quality commercial loan modification companies that can negotiate to get the owners ballon payment extended. This is the key so they can buy time for the market to come back. I was never a fan of residential loan modifications because I didn’t see them providing a real benefit. To me it was all smoke and mirrors. But I do think that a commercial loan mod can be of huge help to the property owner as it can prevent foreclosure and the loss of that property.

So if you think this is something that you could get into and would like to get set up with a company that can do these for you, submit a ticket under the support tap. We will get back to you will more info!

Popularity: 71% [?]

Posted in Commercial Investing, Commercial REO | Tagged 10 Years, Commercial Loan, Commercial Loans, Commercial Mortgages, Commercial Property Loans, Commercial Property Owners, Crash, Crises, Crystal Ball, Home Loan, Loan Market, Loan Modification, Loan Officer, Loan Payments, Mortgage Loans, Period Of Time, Real Estate Investor, Realtor, Residential Loans, Residential Mortgage

Nov

10th

Ten Strategies For Surviving In A Slow Real Estate Market – 10

Written by Bill Ross on November 10, 2009 — Leave a Comment

Here we are at the last strategy for surviving and actually thriving in a slow real estate investing market. If you go back through many of the previous tips you will see many had a component that is directly related to the 10th strategy.

So here it is, the most important thing you can do for your investing business in todays market. Its Professional Networking!

Notice I did not say just networking but instead professional networking. There is a huge difference. Going to random events with people of various backgrounds in hopes to meet a solid business relationship is what I call networking. But a professional networker attends specific events that relate to their business. Not only that but they are prepared to share their knowledge, resources, time and energy to provide value to others.

You might be wondering why you should take the time to go to an event just to give away what you know. Well, it is the true act of empathy and compassion that you give to others that will bring rewards to you. You need to do this with the simple intent to give. I promise if this is you sole goal you will get more than you ever though possible.

The last point that is important to understand in this world of online communications is that success in any field is about working with people, not against them. Business is a human enterprise, driven and determined by people. You have to get out and build relationships with others. No mater who you are or what you know, you simply can not do it by yourself. People make the world move so be sure to join the movement!

Popularity: 72% [?]

Posted in Commercial Investing, Commercial REO, Fix and Flip, Foreclosure Investing, Free and Clear Real Estate, Investment Property Abroad, Land Investing, Probate Investing, Property Investing, Rent To Own Property, Rental Property Investment, Short Sale Investing, Tax Lien Investing, Wholesale Real Estate | Tagged Backgrounds, Business Networking, Business Relationship, Compassion, Driven, Empathy, Fix and Flip, foreclosure, Human Enterprise, Investing, Investing Business, Investments, Investor, Knowledge Resources, land, Lease Option, Professional Networker, Professional Networking, property, Random Events, Real Estate, Real Estate Market, Relationships With Others, rent to own, reo, Rewards, Sole Goal, Success, Wholesale

Nov

9th

Ten Strategies For Surviving In A Slow Real Estate Market – 9

Written by Bill Ross on November 9, 2009 — Leave a Comment

Here is some great straight forward and simple advice for staying at the front of the minds of others in this real estate investing world!

People almost never throw away a book. What, your thinking? What does that have to do with anything right? My answer is everything!

You need to be learning constantly in this business and should be ready many books. The ones you like pick up several of them. Endorse those books and write a personal note inside the front cover. Then give those books away as gifts to others in your investing world!

These things end up on peoples coffee tables and get passed around. YOU end up being the benefit of those actions.