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Hey Moguls, Andrew "The Maestro" Massaro here with a great lesson about something that may be a bit of a rarity these days – being loyal.
Look, the housing market is HOT. And, thus, there are lots of wholesalers out there bringing lots of deals to cash buyers.
So, why would a buyer buy your crappy house, in the hood, over someone else's?
Well, I’ll tell you - loyalty.
Sure, the numbers matter. It needs to be a good deal. But, good wholesale deals are falling out of the sky right now.
If you want to really impress your cash buyers, and create tons of loyalty in the process, this one simple technique will put you head and shoulders above your competition.
This idea is gold! It'll make you rich! Wait for it…
Buy him something.
Yep, that’s it. Buy him something. Impressed? I thought so.
So here's the skinny…
In corporate America, the easiest way to get a client is to simply buy him. When someone would give me a tip on a new client with big bucks, my first question was, "Can he be bought?" If the answer was yes, it was like taking candy from a baby; a done deal.
All I had to do was find out what he likes by asking his secretary or someone close to him. After that, I'm showering him with concert tickets, limos, dinners and drinks. All on the house. Errr… I mean all on the company tab.
Flipping houses is the exact same thing…. yet nobody does it.
Let me explain...
I have a closing in two days with my main cash buyer. What do I know about him? He's a former party animal, who recently traded in his Porsche Cayenne and trips to Vegas for a wife, new house and new baby boy. So, when he closes in a few days, here is what he's getting:
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A thank-you card, hand-written by me
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Two gift cards
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One to Buy Buy Baby
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One to the best steakhouse in town
Why the card?
Because that shows him that I appreciate him and what he does for my business. And, I took the time to express it.
Why these gift cards? Because, being a married guy, myself, and a new father for the first time, I know exactly what he and his wife need… diapers. Wipes. Baby food. And, a romantic date night sans the kid.
BOOM! I just created a buyer for life.
And, it cost me about $100 (but, I’m making $20k on this flip) and just a few minutes to write out a card and mail it. Well worth it, right?
The most meaningful things in life often cost the least.
Take the time to show someone you care and they are appreciated. Then watch your income explode.
Next time he has enough money to squeeze in just one more wholesale purchase for the month, guess who he’s gonna look for to deliver that deal?
Answer: It's NOT the douchebag wholesaler who takes what he does for granted.
It's the guy that cares… and takes the time to show it. (Make that who YOU are!)
You're welcome.
What do you Think?
Do you have any loyalists on your cash buyers list? If so, how did you get them to become loyal? I’d love to hear your tips and tricks in our comments section below.
Buy a box of inexpensive, plain thank-you cards at Walmart.
Know who your buyers are; their interests, passions and needs.
Use an inexpensive and simple gesture to show your appreciation like a gift card for dinner or show tickets.
Andrew Massaro
, also known as "The Maestro", is the founder of Wholesale Coaching, Inc. and is one of the most sought-after wholesale and REO coaches in the U.S. A University of Florida graduate, Andrewís house flipping career started in 2005, during one of the most dramatic and awe-inspiring real estate booms in recent memory.
After many years of success flipping houses in Tampa Bay, Andrew began also pursuing his passion and purpose: hands on, one-on-one coaching and mentoring other investors. Through Wholesale Coaching, students interact with and are coached by Andrew, personally. He has the unique ability to teach and guide his fellow investors to the results they desire. The one-on-one interaction and partnership is the key and what really sets him apart from others who offer coaching.
Andrew is also a loving husband, father to a beautiful little girl, Charlie Lynn, and an active board member of Current of Tampa Bay, a non-profit focusing on humanitarian efforts and showing love to underprivileged individuals.