The Ultimate Automated Lead Machine For Real Estate Investors
Real Estate Investors listen up because no one and I mean no one has ever told you what I’m about to tell you and it all starts with the leads that you’re throwing away on a daily basis. The first part of the machine revolves around these leads so let’s get started.
It goes without saying that the life blood of any real estate endeavor is the ability to secure qualified leads on both the buyer and seller sides. To my mind as important as buyers are you simply can’t function without a large bank of seller’s. Let’s face it without goods on the shelf a store can’t make a dime and so it is with real estate as well.
My experience has shown me that there are a number of basic methods for lead capture that most if not all investors use to find that elusive motivated seller. It’s all in the numbers and it can be time consuming, costly or both.
One method which is free involves chasing after leads on a daily basis on the internet on sites like Craig’s List, Zillow or any of the many classified sites the internet offers up.
Then there are the low cost methods like driving for dollars, bandit signs, flyers, Reia meetings and so on.
Then there is direct mail using postcards or yellow letters which is probably the best method out of all that I mentioned but certainly the most costly.
The one thing that all of the lead capture methods that I’ve mentioned have in common is that you either have to spend time, money or both chasing down these leads. It’s a daily grind that you or your virtual assistant will have to do to secure leads you can work with.
The question is if you could have qualified leads coming to you on a daily basis rather than you having to chase them down, would that interest you? Let’s take that one step further and ask if you could set up a system that could do this for you 24/7 and cost zero dollars to set up and zero dollars to maintain would that interest you?
Ok so I think I know what your response is to those two questions and that’s exactly what I’m about to show you.
How The Machine Works
The first part of The Ultimate Automated Lead Machine revolves around investors like you so hang in there while I bring the newbies up to speed. I’m going to use wholesalers for the sake of this example but it applies to every real estate niche out there.
In my experience when I was doing a lot of wholesaling I found that it took about 25 leads to get one deal. You may have a different experience, some more and some less but I think this is a good number for the sake of this example. The point is that wholesalers have to go through a lot of leads to get one deal.
The two top reasons that wholesalers trash a lot of deals are:
1. The seller won’t take the low ball offer.
2. The property has little or no equity.
There may be other reasons but it’s for sure that these are the top two on the hit parade. So, if the seller won’t take the offer or there is not enough equity in the property the lead goes in the trash after all that hard work to find it in the first place. What a complete waste of both time and money!
The problem here is that most wholesalers are one trick ponies and if the property won’t work out in this strict criteria they simply throw it away. I’m going to first show you how the machine works and then speak with you on why you should become a Transaction Engineer so that you can use many different niches to close those trashed leads.
What’s Going In The Trash
Let’s have a conservative look at what wholesalers are throwing away on a daily basis. I’m going to stay real conservative here as I know wholesalers that do 30 or more deals per month but let’s just say we’re dealing with a wholesaler that does 1 deal per month and it takes 25 leads to get one deal. That would look something like this:
Wholesaler does only 1 traditional wholesale deal per month
25:1 = 25 leads to get 1 deal
24 leads trashed
If only 1 of those 24 leads work out as a wholesale lease option, sandwich lease option, subject to, fix & flip, etc
$10,000 assignment fee per deal
That’s $10,000 additional income per month
$120,000 additional income per year!
I want to make sure you understand what just happened here. You’re looking at $120,000 in additional income working with the leads that you are currently throwing in the trash
The fact of the matter is that you wholesalers already have the lead machine in place but just didn’t know it. If you like the idea of $120,000 from the leads you're throwing away I’m about to show you how to put the machine into hyper drive and multiply those numbers 5 or 10 times!
The Ultimate Automated Lead Machine In Hyper Drive
Now that you see what you can do with just the leads that you're throwing away imagine what you can do if you add other wholesalers to the program. Think about what it would be like to hook up with wholesalers that are throwing tons of leads away every month and the kind of income they could produce.
The first question that my students ask me is where do you find wholesalers? Well, considering there are literally hundreds of thousands of them you’ll need to be careful or you’ll trip over them.
Here’s just a few of the tips I give my students regarding finding wholesalers to work with.
When I googled up “I buy houses” to get this example I got, wait for it, 305,000,000 hits for that phrase. Don’t believe me? Check it out for yourself. So, as you can see a google search with the right phrase is a gold mine.
When I googled up “Real Estate Forums” I got 79,100,000 hits. The forum that I took this example from is called Connected Investors and I know the owner Ross and he has over 500,000 members and I would say that 80-90% of them are wholesalers. If you go to Linkedin for example you’ll find even more wholesalers as they have hundreds of real estate groups on that forum.
Bandit signs are a staple of a wholesalers business and they are everywhere.
Ok, so you get the idea. It ain’t very hard to find a wholesaler! Like I said if you’re not careful you’ll trip over them.
Ok, so now that you’ve found all these wholesalers what’s next? Now it’s time to get them on your team and get the leads they’re throwing away.
Now here’s the hard part. You’re going to have to speak with the wholesaler. I know it’s not email but you can do it. When I was just starting in the business back in the days when they had phone booths, you know, the place where Superman changed into his cape, there was no email like today so we had to talk to people. You can use email for the initial contact but you’re going to want to speak with the wholesaler because getting tight with him will get you a steady flow of leads.
Ok here’s the script:
Mr. Wholesaler, if I can show you a way to turn your trashed leads into cash would that interest you?
I don’t care how you say it, it all comes down to “I’ll turn your trash into cash”.
All you have to do is make him aware that you can put cash in his pocket with leads he is currently throwing away. Simple!
Now the wholesaler will have to give this a lot of thought, in my experience about 12 seconds before they say “Ok, how do we do that”? At this point you’re off to the races.
Are there some brain dead wholesalers out there? Yes, but not many so if you encounter a mentally challenged wholesaler just diary his name for future contact and move on. Like I said there are hundreds of thousands of wholesalers out there, who cares!
I generally offer a $500 fee for every lead that I put under contract but you can make whatever deal you like.
Let me take just a moment to address one thing that students ask me all the time.
What do I say when the wholesaler asks, “how do I know that you’ll pay me”?
This comes up once in a while so let me tell you what I tell them.
Mr. Wholesaler, why on earth would I not pay you? I want to put together a long term relationship. I want all the leads you can send me forever, so it doesn’t make much sense not to take good care of you.
If that doesn’t suffice give him a stupid sign and move on.
One other thing I want to mention here is that you make sure to tell the wholesaler what you want so he doesn’t send you all junk properties. You’re looking for nice houses in nice areas that don’t need repairs not junkers. I get pretty house leads from wholesalers all the time just like you get them from your marketing so be sure to let the wholesaler know what you’re looking for.
Get To Know Your Wholesalers
Here’s the big secret to making the Ultimate Automated Lead Machine work so pay close attention. I get students that call me and tell me that they got these wholesalers but they aren’t sending them any leads. The first question I ask is how many wholesalers do you have on your list and they tell me three. That’s not going to make it. I’m not going to spend time here giving you a lesson on the law of large numbers and how it is critical to any business but you need to be thinking big numbers as far as building a list of wholesalers. Since there are hundreds of thousands of them building a large list presents no problem. When I say large I’m talking hundreds not 5 or 10. If you spend the time upfront building a large list of wholesalers you’ll have a huge flow of leads coming in day in and day out. This is really no different than building a large list of cash buyers which you need in order to flip the houses that you work with now. You know as well as I do that you need to put a bunch of cash buyers on your team in order to move those properties quickly.
Secondly you need to keep up with your wholesalers just like you do with your cash buyers I assume that you keep your cash buyers close. You need to stay in touch with your wholesalers and get friendly with them so they know you’re still out there looking for those leads. You need to email them a couple times a month and call them once a month or so in order to build a working relationship. If you just contact them once and sit back and wait for the leads to come pouring in you’ll be sitting and waiting a long time. This is a business and you need to treat it like one so make sure you build a relationship with your wholesalers. Once you put a check in their hand they’ll remember you but until then you have to keep them close.
A Quick Look At Hyper Drive
Ok let’s do a suppose and look at what a bunch of wholesalers could do for your bottom line. I’ll keep this example conservative and say that you listened to me and went out and got 50 wholesalers on your list. I’m going to stay real conservative and say that they each send you just one lead per month. I’m going to assume that most of the leads they are sending you are not junk but nice houses in nice areas. By the way keep in mind that these leads are for the most part already qualified as the wholesaler has talked with them, the seller wants to sell and they have had a problem selling which is why they called the wholesaler in the first place. So you should be dealing with a motivated seller.
If only one of the 50 leads that you receive every month works out as a lease option and the upfront money is $10,000 that’s $120,000 per year from the dead leads that those wholesalers were trashing.
So the question is would you rather spend tons of time and money chasing after sellers day in and day out or put a bunch of wholesalers in place that send you qualified leads 24/7?
You don’t have to find the deals all you have to do is find the Wholesalers!
You can make a career out of using various niches to turn wholesaler’s trashed deals into cash!
Now that you have the Ultimate Automated Lead Machine in place you’ll need to know how to convert those leads into deals so here is part two of the lead machine.
How To Become A Transaction Engineer
As a one trick pony investor you’re limited as to the amount of deals you can do and the amount of cash you can bring in. My partner Wallace and I are dedicated to eradicating the one trick pony syndrome and turning you into a Real Estate Transaction Engineer!
The object is simple in that now that you have a method to bring in leads in large numbers you’ll need several different real estate niches so that you’ll be able to deal with any lead that comes across your desk.
Look at it this way. How many batters only know how to bunt to get on base or how many quarterbacks only know how to hand off the ball to a running back?
So, no singles, doubles, triples or home runs in the game or no short out or deep passes in the game. Guys that’s not how you play baseball or football.
Only knowing one real estate niche is not how the big time investors play the game either!
A perfect example of this would be my partner Wallace. Once Wallace got into the game of creative real estate he had one mantra that he still follows to this day.
If a deal comes across his desk that he doesn’t know how to do he finds a mentor to teach him how to do it. I know this because he came to me to learn how to work with lease options.
By becoming a Transaction Engineer Wallace managed to become a multi-millionaire in just 24 months and swears that it never would have happened if he had remained a one trick pony.
The two keys in Wallace’s success was that he became a Transaction Engineer and that he found mentors to speed him on his way.
How about you? Are you visiting all the forums to get as much free information on a niche so that you can give it a try? Remember you get what you pay for!
If you’re a serious investor either a full time Pro or a newbie looking to get started it’s time you expanded your horizons. It’s time for you to put that one trick pony in the barn and become a transaction engineer.
Look at it this way, I don’t think you can name just one successful football player, baseball player, basketball player, musician, or executive that has not had or still has a mentor/coach by his side.
It just so happens that Wallace and I are both transaction engineers and mentor/coaches and the one thing we found is that most all of our students suffer from the one trick pony syndrome.
So, we got together and came up with the Transaction Engineer Mentoring program designed to eradicate the one trick pony syndrome and turn our students into Transaction Engineers.
Our combined 60 plus years of real estate experience allows us to teach you 6 different highly profitable creative real estate niches and we’ll even walk you through the deals from start to finish if you’d like.
This is one-on-one mentoring from two highly skilled real estate investors with millions and millions of dollars in done deals over the past 50 years.
Our programs are designed for serious investors that understand that continuing to be a one trick pony will never get you where you want to go.
We’re looking for highly motivated investors that would like to become Transaction Engineers and be able to tackle any lead that comes across their desk and add thousands of dollars to their bottom line.
To get you on the road to becoming a Transaction Engineer you need to go to https://www.executivementoring1.com/programs where you can view all the programs we have to offer. At the bottom of that page you’ll see a button that says Application For Mentoring so click on that button and fill out the form and my partner Wallace will contact you to set up an interview to see if we would make a good fit and if so he’ll formulate a program unique to your needs. The interview is free with no obligation of any sort and it never hurts to have a conversation.
So, if you’re the serious investor we’re looking for whether you’re a seasoned Pro or just getting started you should get on this now you’ll be glad that you did.
I can promise you one thing for sure. The interview with Wallace won’t hurt a bit so be sure to get your interview booked and always remember that It Never Hurts To Explore the Possibilities!
Wallace and I look forward to assisting you to becoming a Real Estate Transaction Engineer.
Thanks again for your kind attention and we hope to be working with you soon.
Joe & Wallace