All Forum Posts by: Scott Nachatilo

I like using bird dogs because they are bringing me leads that my normal marketing are bringing in. I've done a careful job of communicating with them only via email. To do so otherwise would require way too much of my time. If you train them like that up front, they understand how it works or simply go away. Either way, I win.

But the point of getting them set up in the first place is to get production from them. To bring you leads that are at least somewhat in the ball park of what I'm looking to buy.

So Here are 4 tips to increase their production without eating too much into your time:

1) Get them set up on a autoresponder. I use icontact.com as my email marketing solution. Put them on a sublist.

2) Send them a opt-in form. These are created automatically by your autoresponder. They will fill in whatever information you want - all you really need is their email, name, and telephone number. That way, they will add themselves automatically to your email list.

3) Every autoresponder has a thank you message set up. What I have is a short video explaining how the program works. I give them some tips on finding motivated sellers. I tell them how to send those leads to me (email only).

4) Send them at least one message each week. You can either send them a text message or shoot a short video and send them the link to the video. Either way, you need to communicate to that list. Get them pumped up. Tell them about deals that are going through now.

Also, be careful that you aren't breaking the law by paying them a commission. Realtors get paid commission. Non-licensed folks do not. They need to get paid, just be careful how you set that up.

Bill - Thanks for the valuable feedback. Your point about making them a principal in the transaction is right on point. I will make certain that once we get to the "deal making" stage that is how it is structured. Your point about keeping everybody safe in the transaction is an excellent one.

You are right, it is unhealthy!

I've been running an advertisement once a week or so in craigslist under misc. jobs - the subject: House Hunter Wanted

Here is what I put in the add:

Hi.

Are you looking for some extra income? I'm looking for some help finding more properties for my real estate business.

My company is looking to buy 4 houses each month from the Oklahoma City area. I'll pay you $657 for EVERY house you find for me that I end up buying.

What if you send me houses to look at that I don't end up buying? Well, I'll only pay you for the ones I actually end up buying. I'll give you that in writing.

To some people, that sounds too good to be true. But you'll feel differently when you have that first check in your hands.

I'll show you exactly what to look for, and how to look for the houses I'm looking to buy. There is no registration fee or training fee. I provide that as a bonus.

I own an established home-buying company in Oklahoma City. We've been in business for the last 14 years. We're here to stay.

Interested? Reply back for more detail. I'll email you the details so you can decide if this opportunity is right for you.

Thanks - my name

If they reply, I follow that up with a description of what they will actually do, and how to find what I'm looking for, etc.

The response is really good- usually I'll get 25 or so people per ad I run who I can put a sublist (for email).

My question is:
Do you see anything I can do to improve my results?

Any suggestions would be appreciated.

You are in a good position to do a nice buy and hold play with that money. I like and use buy with cash, fix, and refinance my money back out. The tenants pay for the properties...

As I look back at my first ten years as a real estate investor, my biggest regret is that I didn't move nearly fast enough.

You'll never make the transition if you don't focus on the most important item: Revenue. Your business has to make money. How will you create enough revenue to keep that lights on? That should be your number one question now.

I transitioned from a reasonably high paying job to my business in 2005. I bought my first cash flow property in 1996, and sort of built up more and more properties over the years. What helped that transition was doing nothing but wholesale flips for a few years.

Even after I left my job, it took a few years to shift my mindset away from "employee" mindset to "business owner" mindset.

But don't leave your job too early. It's more important to lay the groundwork for your business and start delegating while you are still working. (in my humble opinion)

First deal was in 1996: two side-by-side duplexes that needed a ton of work. I bought them with seller financing for $35K...I still own those properties. They make me great cash flow - total rent is about $1600 per month.

But the most valuable thing I got from that was definitely the experience and a start for my business...

Get that first deal under your belt!