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“How Can I Hire Someone To Find Buyers For My Properties?”
Joe: Hey, it’s Joe Crump. Welcome back to the blog video series on automating your real estate investing business. This question is, “I have quite a few properties that I’ve tied up with a lease option memo and I’m trying to sell. I advertise on Craig’s List, I use Bandit signs, and I use Postlits.com. All things you recommend. Those things bring me a lot of Buyers. So, I guess this is a good problem to have. But, if I call them back, it takes a lot of time and I end up dropping what I should be doing, which is talking to sellers. How can I get someone else to handle this part of my business and how do I pay them?”
Joe: Well, first of all, you can automate some of this process. If you’ve got leads coming in that are generic leads about a particular Property, then you want to send those to your rent to own buyer’s site that explains how lease to own works, and it puts them on a list. And that way, whenever you get a new property for sale, and even if you don’t have a new property for sale, every week you’re sending out your list of properties for sale to everyone on that list, whether they want that type of property or not. You send it to everybody. And that’s the generic list that you create. It doesn’t take long before that list, you can build it to 200, 500, 1,000 people. You know, it doesn’t take but you know, five or ten deals before you get to the point where you have that many people who’ve responded to your ads and have been put into the system.
Joe: When your list gets that big, it’s likely that when you send out a blast to those people, that 10% to 20% of the properties you have for sale will sell to that list specifically, which means typically overnight, or within a couple of days people see it, they go out there, they buy the property. And that makes your job you know, 10% to 20% easier because you don’t have to talk to as many people and you get these deals going and those people trust you because you’ve been sending them a series of emails that, you’re not doing it personally, the Autoresponder is doing that for you, sending them a series of emails, educating them about lease options, educating them about how to buy a property and how they can buy a property and the type of property they can buy and how much they need for a down payment and all those things. And it keeps them, it keeps it fresh in their mind and when they get new properties from you they’re going to pay attention to that process.
Joe: But, when you have a property that you are specifically selling and you get a call from an ad that is specifically about that property or a sign in the yard or from Postlets, then you want to call that person back. Either you or somebody else that is dealing with your buyers. At the beginning it should be you. You should call them back and say you know, how much have you got for a down payment? And I go through a whole process on how to qualify your buyers before you get them into a property. You don’t want to go over there and show them the property, you want to have a lockbox on the front door if the property’s vacant, and be able to tell them go to the front door, I’ll give you the lock box code. You can go in, I’m going to have you on the phone while you’re doing that and you know, you can walk through the property together this way. And then I’ll make sure you get it locked up when you leave.
Joe: So that’s an easy way to sell the property without going there. You can get somebody remotely working with your buyers and you can do it at the beginning because you want to learn how to talk to these people, you want to learn how to negotiate the highest lease option fee from them and you know, you want to be able to close the deal.
Joe: Eventually you’re going to be able to hire somebody to do that for you and it’s easier to outsource somebody talking to your buyers than it is to outsource someone talking to your sellers. When you automate, your process should be first automate the admin process to make sure your leads are constantly coming in. Have somebody run your Automarketer for you. Even though it only takes five or ten minutes a week to run that Automarketer, it’d be nice to have somebody handling that for you and maybe dealing with some of your follow up you know, making sure your leads are getting are followed up on you know, through email and that type of thing. So get your admin person first. You’re going to pay that person you know, $8 to $10, maybe $12 an hour to do that work for you. They’re going to work maybe ten, if you’re doing a lot of this business, maybe twenty hours a week, but you can probably get somebody with five hours a week to do most of your admin work at the beginning.
Joe: The second thing you’re going to automate, or you’re going to outsource, is going to be your buyers, and that’s what we’re talking about here. The third thing you’re going outsource is your sellers. That’s the last person that you outsource and you’re going to do that in stages. And we’ll talk about that on a different video.
Joe: All right. I hope that helps. This will make your job a lot easier. I find that a lot of, especially new, students get bogged down because they get so many calls from buyers. Buyers are easy to find when you’re doing lease options because there’s a lot of people that cannot qualify for a loan that want to own their own house. So you get a lot of buyers coming in. As long as you’re, the price of your property is at market rent or below. If you’re over market rent it won’t even sell. But if it’s at market rent or below you’re price, your actual price of the property doesn’t matter nearly as much as that monthly payment. So make sure that that’s accurate. But you’re going to get a lot of calls and you don’t to spend a lot of time on the call with those people because what I find is, especially with new investors, is oh, I’ve got you know, six people and each of them have five to ten to twenty thousand dollars down and they’re looking for a property. But it’s a lot harder to find a property for somebody who’s looking for a property than it is to find a buyer for a property that you already have. So get the properties that you have, get the inventory, and then go out and find buyers for those specific properties. It’ll go a lot faster and a lot easier and you’ll have to talk to a lot fewer people.
Joe: All right. Hope that helps.
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