Database Building – Part 2
If you missed the previous article – Database Building – Part 1
As a full-time Canadian real estate investor, we need to be doing business in a manner which drives deals to us on a regular basis. After all, massive and passive income is the name of the game.
Let's now begin by understanding the process in qualifying our end buyer and determining if they should be included in your database. You want people in your database that are either qualified to be able to purchase a property you have under contract, become a person you get cash from regularly or just help you get more deals.
Let’s assume you have advertised in many areas by utilizing a unique marketing system to begin receiving calls (we’ll speak about successful advertising in another article.
Why are these people calling you?
I established in a previous article that if you can understand the need, it is a lot easier to fulfill it and make money in the process.
Of course the reason why these people are calling is because they are responding to your cleverly placed ads. These ads can be both general or specific.
You will get calls!
If they have responded to an ad that advertises for “properties at 15% below market value”, will you get calls? Of course. Can a realtor advertise in the same way? Not a chance. You have an distinct advantage. Of course you have to be able to find properties at 10 -15% below market value. (which is not difficult, but is the topic of another article) .
I got the call, but where do I go from there?
Once you get the call you need to speak to people and qualify them based on the following:
- What kind of house are they looking for?
- What area would they prefer?
- What can they afford? (more on this in yet another article)
- What is their time-line?
You note their contact info and their desires in a property, stating that you don’t have anything at the moment that is suitable but you (the caller) will be put on a list and will be notified as soon as anything comes available.
Satisfy the Need
You can then go out and find a property in the area they described that suits their needs…or you can wait to get a number of people that want the same thing and then get a suitable property under contract.
You will contact these people and tell them they can come view this property (that is 10-15% under market value) all at the same time, like Saturday at 1 pm.
How do I get them all to come?
As a knowledgeable full-time real estate investor, you can approach this in 2 ways. Firstly, you can let the candidate know that there will be others there looking at the same property. This usually gets everyone there on time. The other approach is not telling the other candidates that there will be any others there to view the property. When they get there, they see others there and then the fun begins.
What happens is you have created a situation whereby everyone wants the property and may be willing to pay you a higher assignment fee in order to get the property. There will also be significantly less complaining about any “issues” surrounding the property.
World Wealth Builders offers an intensive 3 day Intensive Real Estate Millionaire Apprenticeship training which includes tons of unique, out of the box non-conventional methods and strategies.
For the next article in the series – Database Building – Part 3
P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific "action ideas" that can help you achieve your dreams and leave the rat race behind.
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