Cast the Net Wide and Get Your First Deal

Ever wonder how to get real estate deals done faster?

In this episode, Blair and Jeff talk about the benefits of
joining the “Done for you” program and give us a business update.
They have eight contracts of remote deals waiting to be signed.
They have figured a way to get them signed and back faster!


Having a meeting at the house with the seller in person is very
important because it forces them to make a decision. Simulate
that in-person meeting using a mobile notary.


Another thing they emphasize is when broadening and
geographically targeting your real estate business on Facebook
with the motivated ads, the lead costs drops dramatically.
Sometimes it runs as low as three dollars per lead; their target
is twelve to fifteen different states throughout the Southeast
and Midwest.


They also talk about how difficult it is to generate leads when
advertising through digital marketing in competitive markets.
Learn why it’s best to start with cheaper leads to gain practice,
and when doing business locally, do a lot of networking.


They go over the standard purchase and sales agreement and tackle
in-depth two things: how to fill in the contract when buying a
property subject-to with an existing mortgage and how to
negotiate a low purchase price for a property in foreclosure and
with some equity. The secret is using a net equity worksheet to
define real numbers and split the profit with the seller.


Mentioned Resources:


Ron LeGrand

Craigslist

Zillow



In this episode we covered:


00:00:38 – Start-up and welcome to the call

00:01:36 – Standard purchase and sales agreement review

00:11:00 – “Done for you” program: acquisitionist and VA
interviews, plus the technology and system setup for somebody who
joined the program

00:11:48 – Business update: eight contracts of remote deals
are out for signature and how they found a process to get them
back faster

00:15:05 – Boots on the ground for remote deals and doing
business remotely

00:17:51 – Generating leads in competitive markets via
advertising in the digital marketing landscape; practice with
cheaper leads and local networking

00:31:52 – Targeting by zip code and homeowners behind on
payments

00:34:59 – Buying a property subject-to an existing mortgage
and filling in the purchase contract

00:50:38 –Negotiating a low purchase price with a seller for
a property in foreclosure and with some equity; using a net
equity worksheet

01:01:35 – How and when to use a net equity sheet

01:20:39 – Wrap-up



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


Multimedia:


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Thank you for listening!