One of the hardest things to most real estate investors, especially new to the dance is putting up a system that brings them deals. Most people get frustrated in their efforts – mailings, knocking on the doors, calling on FSBO’s, looking at Legal Newspapers, calling on busy realtors - and give up!
One of the things that I have done consciously in my real estate investment business is to try and find other individuals who can do the work for me – I have absolutely no problem in paying other people doing work for me that will bring consistent paydays for me.
I have talked about previously in my newsletter about a solid, time proven strategy of leveraging loan officers to generate pre-foreclosure leads. Gold Plus coaching member Nektaurius Lianokis and Nick Mackris do it every month.
You can leverage the repair expertise of other investors in finding good contractors and other wholesale resources. How would you like to have the phone number of a private landscaper who will do a pretty decent job of landscaping almost 75% of going rate? I have that phone number.
Or how about a title company smart enough to understand the concept of double closing? I have one that I have used in the past and they get it. Or how about the list of top dog REO realtors specializing in nothing but bank owned foreclosures?
Do you think somebody might have that list? Is it possible that somebody who is doing this real estate thing, day in, day out might have taken time and put together a “Black Book” of real estate resources.
Similarly, if you have issues with personal time where you simply cannot find time to go out and find deals – you need to build a network of people around you that will send you deal. Appraisers come to my mind as a group of highly motivated, commissioned based group of individuals that help you achieve that goal.
I have 4 such individuals on my team – people who take time out of their daily day to day grind to find me deals. They get varied degrees of compensation, payable only at closing of the deal – I am under no obligation to do any of them – I do my own evaluation but overnight I have quadrupled my potential deal pipeline.
