Hey Moguls, Jamel Gibbs here…
Marketing! Does the very word make your head spin? So many ways to go about marketing – how do you get organized and where do you start?
In this lesson, I’m gonna zero in on a specific area of marketing – that of finding motivated sellers. You’re going to learn exactly how to set up a workable 3-day plan that you can set into motion immediately - it’s a plan that brings great results. Yes, it’s labor intensive, but the results are well worth all the time and energy you invest.
So, I’m going to walk you through this plan literally step-by-step. If you follow my instructions, you’re going to see the number of motivated seller leads greatly increase. Obviously, the more motivated seller leads you have, the more deals you close. The more deals you close, the more money you make.
Now let’s get started...
Before starting on your 3-day plan, take a minute to look at your schedule. Select three days during the week that you have 2 hours available. You’re going to use these hours to scout your farming area. If you absolutely have no extra hours that can be set aside for this, you might want to hire a college student.
If you outsource to a college student, pay them $8 an hour for 8 hours a week. That means you’re forking over $64. Which is nothing compared to the profits that will be coming in. Plus, you can write it off as a business expense.
Finding Your Workers
There’re a number of ways you can find your candidates:
1. Visit a local college or university and post a “help-wanted” flyer on the bulletin boards. (Ask around for the best location for posting.)
2. Use the “help-wanted” section of the local newspaper and place an ad there. (You might also consider placing an ad in the college newspaper as well.)
3. Post an ad on Craigslist in the “Gig Offered” section.
Day #1
You’ve selected the three days that either you or your assistant will be available for two hours. The next step will be to get a map of your area. The quickest and easiest way is to find one online and print it out. On this map, highlight your chosen farming area. If you have several, then highlight all of them.
From your highlighted area on the map, choose a starting point. This is where you will begin to search for motivated sellers. Personally, I like to start from the outside and work inward.
NOTE: Your first goal will be to complete a 5-street search during this 3-days of work.
Posting Flyers
On your first day – on these 5 particular streets – stop at every laundromat, deli, super market, coffee shop, gas station, etc. Ask the manager if you can leave a few flyers for people to pick up.
Depending how bold you are, you might ask the manager if you can post a flyer in the restroom by the hand drier or post one by one of their vending machines.
Scouting Properties
After you’ve posted the flyers, next you will scout the 5 streets to find the following:
1. Vacant properties and FSBOs
2. Properties in need of rehab
Vacant properties are easy to spot:
-
No curtains in the windows
-
The grass hasn’t been mowed for a long time; untrimmed hedges; neglected flower beds
-
Newspapers and other materials left on the front porch
-
Windows may be boarded
These are just a few, but you get the idea.
Properties in need of rehab might have these tell-tale signs:
-
Does the paint around the windows and on the house looks neglected (peeling)?
-
Does the lawn look unkempt?
-
Do the gutters need to be replaced?
-
Look at the roof from standing across the street – does it look like it needs repair?
-
What’s the condition of the brick or siding on the house?
-
What’s the condition of the fence or gate?
Have a notebook with you and as you go from street to street, you’ll be writing down the address for each of the houses found that fits these descriptions. On your map, check off each street that’s been completed and date it.
Once you’ve scouted the first 5 streets, that part of the work for Day #1 is completed. Now return to your home or office and record these addresses into an Excel spreadsheet.
More on Day #1: Locate Owners
Your next step is to locate the owners of each of these properties. Go online to Google and type in the search bar: “tax assessor’s office + [your county].” Or you can simply use a site called NetROnline.
Once you are on the county tax assessor’s site, find the link: property parcel search. Follow the directions and you’ll find the property owner.
Even in this day and age there are still some counties that do not have online access. If this is the case, you’ll need to go to the county tax assessor’s office and search for the property owner’s info there.
Tell the clerk that you’re doing research and you want to know who the property owners are. They’re obligated to give out the information because it’s public records. Your goal is to get the name and the REAL address (mailing address) of the property owner.
The next step is to send the owner a letter expressing your interest in the property. Mention that you’ve seen the property and noticed that it was vacant – then let them know you’re interested in making an offer on the property.
All of your tasks for Day#1 are now completed. Yay!
Coming Up…
In Part 2, I’ll reveal the other 2 powerful strategies you can implement to complete the 3-day motivated seller marketing plan. Don’t miss it.
Your Input
What are your thoughts so far on this thorough and detailed marketing plan? Leave ‘em in the comments section below.
Select 3 days in your week that you can devote 2 hours to this marketing plan
Outsource the work if you don’t have the extra time
Designate your farming area on a map
Post flyers in the farming area
Work street by street to locate vacant houses – or those needing rehab
Record addresses in a spreadsheet
Find the owner’s name and address in public records
Send letters to owners