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Updated about 14 years ago, 09/28/2010
Low productivity
Today I have attempted to contact every investor I knew, about a potential deal, and I have'nt recieved a response all day. If first you don't succeed try try again. Im going to have some cake :D
Last week I put an ad ($35) in the local paper (went out to about 30,000 people) and I got one phone call from it. I found that quite funny. Anyway, just got to find the right way, the right approach. It all works out eventually. :)
#4 Off Topic Contributor
- Investor
- Round Rock, TX
Maybe the deal wasn't as good as you thought or your ad campaign needs work...what did you put out there?
I just shot an email with the numbers. I also stated that if it didn't meet their criteria to notify me. I wonder if they are as serious as I am. I'm willing to put in the work and time, but I don't like to waste any of it.
Look, you sent the email today. People who are actually investing in real estate might very well be out and about working.
You have to wait until people have the time to sit down and check their mail. Your buyers probably haven't even seen your email, yet.
Also, it is very likely that they will read your email and mull it over for awhile. Then they will contact you with any additional questions.
If you gave an address, they might do a drive-by before they call you.
I've found that staying in touch on a regular basis, Like once a month weather you have a deal or not will get you a better response when you do have a deal.
Just drop a line every now and again and ask them what THEY are working on.
This will cultivate a mutually beneficial relationship and they will be more likely to accept and return your calls.
Jason- Absolutely! You have to think that with so many wholesalers out there the average investor receives so many e-mail updates about new properties that sometimes it becomes tedious to see your inbox stuffed to capacity every morning. Individual contact, even as simple as weekly or monthly, creates a relationship and makes your buyers feel important to you, which they most certainly are!
This is also vital for your out of area buyers. You will not see them every month at the local REIA meetings and can compensate by building rapport with regular contact.
Ron- Thank you for starting the conversation. Keep up your diligent work ethic.
Continue to plug away, approach is everything, so you may need to make adjustments. Also, be patient. busy investors do not sit at their computer all day!
Your continued activity here on BP will help you the most. That I can promise!
#4 Off Topic Contributor
- Investor
- Round Rock, TX
When you put something out in the world via email it generally pays to put in the email that you will be following up via phone on such and such date. Then do it...on time!
I get hoards of email from every Tom, Dick, and Harry I have ever met. I generally click through 95% of it in about 2-3 seconds on my Blackberry unless it entices interest. Something that has attachments and data to support the claims generally gets a look-see. Other email that is just a bunch of promises with nothing to substantiate them goes in the circular file.
People are busy...Think like you are in their shoes. What would you want to see in an email if you were buying the property? Enough detail in attachments with a bulleted synopsis of the detail or executive summary would work the best for me...with a follow up call so that I don't have to chase you down to find out more.
Great Advice from everyone. I exspecially like the idea of following up an email via phone. Thank You
#2 Mobile Home Park Investing Contributor
- San Antonio, TX
When it comes to building a team and a great network, I find quality over quantity works best for me. If you're looking for investors to work with, it's best to scope out your local area and find the ones that are really doing business out there. Usually, this can be done simply by driving the areas you want to work in and visiting the rehab projects of investors in those areas. Hope that helps!
p.s. I work more "in the trences," communicating by email is not really my style working in REI. But, I'd say do what works for you! :)
Depending on how big your buyer's list is, you may want to call your buyers personally, especially if this is a good deal. It's a nice personal touch that doesn't take too much of your time if you have a small list. In addition, once you start doing deals with a few of them, you are going to be talking to them more regularly anyway. I get email blasts often and I generally don't like them. Sure it's a great way to reach a large audience quickly, but as others have said, it doesn't really have the effect you are looking for.