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All Forum Posts by: Amanda Fox

Amanda Fox has started 9 posts and replied 69 times.

Post: How about car advertising???

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

For whatever it's worth, I hired two people off Craigslist (set it up as a large payout if we closed a deal off their magnets. Made it clear that I had no clue if it was going to work or not) to drive around with our door size magnets one on the driver side and one on the passenger side and a third bumper magnet for about 6 weeks. I hired people that drove extensively through populated areas and parked on the weekends in really busy outside locations. One of them did work with large grocery stores all over the place and was parked throughout the week in busy parking lots and the other one went weekly to a 2-3000 person church in Denver. Both commuted long distances. My plan was to ramp up a large car magnet army throughout Denver if we got a few phone calls during that time. I didn't get one phone call off either car the entire 6 weeks and discontinued the program. However, our magnets were small, we never tried the car wrap and it was only 6 weeks.

I would like to say, though, that I learned that there are a ton of people on Craigslist who are willing to do work for commission only or minimal pay in general. I probably had 25 responses from people who wanted to drive with the magnets. I think, generally speaking, whatever marketing ideas you have, think huge. If most investors are sending 1-2000 mailers a month and the big investors are mailing 1-200,000 mailers every couple months, figure out how you're going to get to the 1-200,000. If you were to find that car magnets are useful in your area, don't just think of putting them on your car, go with a giant car wrap or build the army.

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

@Alison M. @Doug Pretorius @Account Closed @Michael Quarles

Am I understanding everyone correctly that their is absolutely nothing we can do to better communicate during negotiations with a seller. There is NO psychology behind that communication? I'm finding that hard to believe, but you guys are obviously way ahead of me in experience and I can't argue with that!

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

@Alison M. Thanks for all the advice! We are already 5 mailings in with the absentee mailers, but it may still be a good idea to scrub the list more. I'll talk to my husband about that idea. We do intend to continue sending our mailers indefinitely until a seller either moves into the house, sells the house or asks to be taken off the list. We do have the ones that called us on a regular callback list, and I've definitely underestimated how beneficial these leads will be as they continue to build over time.

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

Again, any input you all have about better marketing avenues to generate better leads would be greatly appreciated!!

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

I really appreciate all the advice. It's giving me some great direction. Thanks!

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

Great advice thank you everyone! So, currently we are marketing to absentee, out of state high equity sellers (direct mail - 600 addresses) and distressed houses (through street signs and driving for dollars. I am about to start mailing to delinquent tax sellers as well. How would you guys change this if I were to better market to more motivated sellers. I really appreciate all your feedback. I can sense that we are getting really close, but man, this business is difficult!

@Michael Quarles I really appreciate some of the details as well. It makes a lot of sense what you're saying.

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

@Shaun Reilly @Daniel Breslin

Well, here's the thing. At the rate we were going, based on our stats of marketing dollars to calls to leads to deals, it would have been upwards of a year before we were able to get a flip in this market and we would have run out of marketing funding much much sooner than that.

We are marketing in the exact same way now that we were then. We have the time now to recover some money from using other methods without distracting from building the business towards a solely fix and flip model. We just have to get our foot in the door. Our thought is that this is what we need to do to get into this HIGHLY competitive and active market.

But if you guys have ideas of how to generate more funding for the marketing and decrease the amount of time it would take to get a rehab deal I'm all ears!

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

@Account Closed Great advice, thank you! Are there also specific closing statements that you use that encourage a seller to sign the contract??

Even when we were a solely fix and flip business, we would communicate with a seller that only had one option like you say, but the competition is so huge here, that they would hang up and call 2 other investors and get a better offer. Even with motivated sellers who only have one option we are still missing something, can you give me any further advice. Thank you!!

Post: How to Convert Real Estate Investing Leads into Deals??

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

We have been marketing now for 4 months (and worked on investing through the MLS for 2 years prior to that all with having never made ANY money!) and have very thankfully built a system that is producing consistent leads every week. We had initially had solely a fix and flip approach, but noone responded to an offer lower than they expected and the conversation would shut down quickly. We have transitioned into a "full-service" approach and now offer to buy with cash, wholesale, or list properties, whatever best fits the homeowner's situation. We are now able to move the conversation a couple steps further with many more leads. We can take the lead all the way through property viewing, multiple conversations and the homeowner being on board. But when it comes time for them to sign a contract, every lead gets nervous, never signs and stops returning phone calls. Can anyone PLEASE give us advice of how to get the contract signed, mainly any verbal statements that you have found helpful?? We are so close and still feel so far away.

Post: "Dumb question" about my Direct Mail Campaign

Amanda FoxPosted
  • Professional
  • Denver, CO
  • Posts 69
  • Votes 29

We do change the message every time. We do letter, letter, postcard, letter, letter, postcard. We just sent out our first postcard and have had a decent response so far. I can send you attachments of everything we've sent so far if that would be helpful?! I struggled with the idea of the handwritten message and the simple wording. I had thought that people would respond better to a professional image. It's been a lesson to me of why it's vital to do the research and that your gut feeling is often not correct. Thank goodness we did the research!!