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Updated about 2 years ago,
My first Day Door Knocking Alone and my results
My goal is to get 50 units via Subject to and then sell them on a Rent to Own in Arizona to create a passive income of $5,000/month. This is just the beginning and then I will take that money and invest in Mobile Home Parks and so forth. What I am doing:
1) Talking to 5 people a week in my sphere of influence asking them for referrals and if they want to sell.
2) Handing my business card out to two random people a day and let them know that I will give them $500 for everyone they refer that goes through.
3) Door knock 10 strategic houses a week (FSBO, Pre-foreclosure, Make Me Move on Zillow, or any house in my neighborhood)
By the way if you have any tips or advice please let me know!! I can take constructive criticism, I am constantly learning! If I am doing something dumb that I shouldn't be let me know or if I should be doing something let me know. My goal is to get 50 houses as fast as possible, no need to beat around the bush lol :)!
Here are my results:
1) Talked to 5 people in my sphere of influence today (Wholesaler, two best friends, Co-worker, and my dad). This week I did the easiest ones just to get me started.
2) Had my carpet cleaned this morning and gave my card to the guy and he will come back in the future so I can maintain that relationship and add to sphere of influence. Handed my card to the Post Office Worker as I was door knocking - he didn't seem to excited, but I am expecting a 1% referral rate from cold market anyways.
3) This is where I get disappointed in myself - door knocking. Here are my door knocking results for week One:
Went to 8 houses total (Goal was to get 10 "No's" - just finished reading "Go for No")
House #1: I was so nervous, I have been door knocking before, but never alone and it has been a while so I was very nervous starting again. I was walking up to the door and saw a no soliciting sign and walked back to my car like a wimp! I didn't want to start the day off with a mean response.
House #2: I just walked up to the house and left the card/note on the door, again like a coward! I was too scared to even ring the doorbell.
House #3: Okay, finally I was so upset with myself I just went up and rang the door bell. The lady answered and I got nervous and said: "I was in the neighborhood and was wondering if you wanted to sell your house?" she said "No" and closed the door.
House #4: Rang the door bell, no one answered so I left card/note.
House #5: Rang the door bell, no one answered so I left card/note.
House #6: Blocked off by a gate surrounding the whole house, it was recently burned from the inside it looks like and a complete rehab going down. Not only could I not get to the door, I wouldn't want this house because I am not sure if that fits in with model of a Subject To, would require a lot more Capital.
House #7: Lady answered and with more confidence I said "Would you be interested in selling your house?" She said "I am renting, but the owner just listed their house I can give them your info" I then proceeded to tell the owner that if I got the house she may be able to stay there and asked if she was interested in a Rent to Own. She got excited and said she will give contact info to owner. Regardless, its a FSBO so I will contact the owner as well from Zillow.
House #8: Rang the door bell, no one answered so I left card/note.
The Note I am handing out is on a large yellow sticky note (about 6 inches by 4 inches) that says the following: "Sorry I missed you, I stopped by to see if you are interested in selling your house? I saw your house on Zillow and would like to buy it!
-No Realtor commissions
-Fair price
-Quick Close
-Little to no equity okay
-Even if you are late on payments that is okay
I will try again next week June 6th at 10am. If you want to meet sooner or are not interested please call/txt or email"
I leave my contact info of course and then on the back also leave a business card.
Some problems I am having already:
1) It takes a long time to hand write the notes
2) I already ran out of houses in my immediate neighborhood that are Pre-foreclosure, FSBO, and Make Me Move. I want to focus and dominate my neighborhood so I think I may just have to start handing cards/notes to 10 random houses next week (after I visit the ones I said I would).
I asked my best friend to keep me accountable and I am also posting on the site for accountability. I am very disappointed in myself this week, but I plan to get better every day! Currently started reading "How to master the art of selling" any other good books that you can recommend would be great!
-John