So, you probably know that one of my passions is teaching and coaching.
And, I love talking with my coaching students and keeping up with how they’re doing.
One of my students reminded me of what he did when he first got started—when he had some time but no money. At least, no money for bigtime marketing.
His strategy triggered my thoughts to share this with you…
Okay, I’ve mentioned before how you shouldn’t look at fellow investors as competition—you should consider them potential partners.
And that’s exactly what my student did.
He went to his local REIA meeting, stood up and said:
“Investor friends, I want to partner with you… if you give me
your old dead leads and my follow up with them turns into
a deal—I’ll split the profits with you 50/50.”
See, he had time to call them but no money for marketing and these investors had money for marketing but no time to call the old leads.
And he DID end up closing deals that way! What a great plan for a newbie just starting out… especially a newbie with a low budget.
And, maybe you’re not keen on talking to sellers on the phone. Okay—text messages, voice blasts, emails… heck, a cheap postcard…
Just follow up!
(And then work on learning how to talk to sellers on the phone; you do need that skill in this business.)
I’ve said it over and over: The fortune is in the follow-up. HALF of your deals will come from follow up.
See, most sellers will say ‘No,’ the first time you call. But when you follow up… you will get a ‘Yes’. Lots of them, actually.
Network with fellow investors (aka partners, NOT competition) and start doing deals from their cold leads. (You’re welcome.)