From Preston Ely, Dollars Getter...

A short story -

So I arrive at my office (Starbucks) to meet with a new potential student. This is years ago, and this is only my 4th prospective student or so at that time. It turns out to be an older, soft spoken woman with no experience whatsoever in real estate or any other field that would even remotely serve a useful transitional purpose in her new chosen endeavor. I’m wondering if I will still be allowed in heaven if I accept her money.

I decide to roll the dice and take my chances, as I often do with my soul. I go through the whole spiel with her, tell her what it is going to take for her to make it in this business, and she maybe said three words the entire hour. Communication is obviously not her strong point. She writes me a check for a few thousand bucks and leaves. Definitely I may be going to hell.

Not but three days later my phone rings and a very soft voice on the other end says, “Hey Preston, I just drove by this house, and I think it’s a good one.” “Really?” I said as I rolled my eyes. “Well call the owner and fill the lead sheet out.” I gave her Vegas odds of about 1 in infinity and forgot about it.

This “short story” is getting too long so let me wrap this up…

When I received the lead sheet, I realized the property was in one of the hottest neighborhoods in Tampa. I could tell right off the bat the asking price was exceptionally low. We ended up putting it under contract, selling it in less than a day, and making somewhere around $20,000.

What is the moral to this story?

The moral to this story is 1 in infinity odds are not so bad sometimes, and perhaps we should all be playing our state’s lottery much more often.

The other moral to this story is that success in real estate really only hinges upon one simple thing – writing me a check for a few thousand dollars.

And the actual really SERIOUS moral to this story is that driving neighborhoods actually works, and all newbies should be doing it.

The following is what to look for when driving neighborhoods:

1. Rundown Houses

Duh. Me personally, I like run down houses with actual For Sale signs out front. I don’t like having to hunt down owners of vacant houses. However, that is a very viable means of lead generation. The main quality to look for with the houses is overgrown grass and just overall shoddy landscaping.

The following illustration should prove helpful in determining what to look for:

No

Yes

No

Yes

2. Houses Where the For-Sale Signs Look like a Pre-K Child Wrote Them While Suffering From a Current Epileptic Seizure

What this really signifies to you is that the owner is distressed and probably not very savvy. Call these people and relieve them of all their problems as it pertains to this disturbingly non-attractive house. All the neighbors will most likely prop you up on their shoulders, cart you around the block, and hail you as king.

3. Houses Where the For Sale Sign is in Some Bizarre Location

Like propped up against the mailbox, taped to the inside of a window, lying flat on the driveway (so God can see), or on the roof leaning against the chimney (in case Santa is interested). All sure signs of the same type of seller as we had in paragraph 2 above.

Now go make it happen.

That’s about it I guess. Drive for dollars, but only after you have done all your other marketing and just happen to find yourself with some extra time on your hands. The sooner this becomes “never,” the better.

In fact, if you want to really do it right, follow my lead and start getting other people to be your dollar-drivers. My boy Franklin calls them his “House Hunters” and he’s got that nut cracked open better than about anyone else I know on the planet. Definitely check him out.

Safe driving, friends!