Building a Buyers list | How to use active and passive strategies to build your buyers list – Tim Herriage

During this session, we will talk about Building a Buyers list | How to use active and passive strategies to build your buyers list. The video is below and the notes are underneath the video. This is Week 3 of 10 from the Wholesale Real Estate Training Program. Make sure you bookmark the Wholesale Training Resource Center.

VIDEO

NOTES

WEEK THREE NOTES AND ACTION ITEMS

How to use active and passive strategies to build a buyer’s list:
- Build an email list (Constant Contact, Mailchimp, Excel, Google Sheets)
- Why, what and how
  - Refresher
    - Assignment contracts
    - Wholesaling
      - Pros and cons
- WHY do investors buy from wholesaling?
  - Focus on fact that you’re providing a service.
    - Investors need houses
      - Concept of supply chain
    - Money must make sense for them
- WHAT
  - Packaging and promoting your properties
    - Property Overview Package (POP)
      - Full story about property
      - Offer to your audience/database
      - More work done on it, more money will be made
    - Video
      - Wide angle lens
      - Talk throughout
    - Pictures
      - Take as many as you can
      - Things to take pictures of
        Rooms
        Appliances
        Material defects
        In/outside of mechanical systems
        Electricity and gas going into house
      - Put in Google Drive and send out
    - Contract Terms/Conditions
      - Be clear
    - Offer types
      - Subject to’s
        Be clear
        Bank or hard money financing
        No conventional loans
      - Research mortgage balance, monthly debts, HOAs, etc
    - Comps
      - What it’s worth
    - Estimated repair costs
      - Nothing below $10/foot
    - Specs
      - Bed/bath
      - Garage/carport
      - Square footage
      - Conversions
    - Look at market and base decisions on what’s happened recently w/ comparable properties.
    - Property description/overview
      - Use your words.
      - Tell people what you would do.
      - Do work 1^st time so house doesn’t become “tainted.”
- HOW
  - Create email
    - Build email list
      - Do not buy a list
      - Facebook groups
      - MailChimp
        Free up to 2K contacts
        Forms
        Url to join list
        Post form link on social media
      - Instagram
        Follow relevant hashtags
      - End of foreclosure auction – gather names
      - Keep active conversations going
  - Negotiated price, sign contract
    - Don’t collect more than making
    - Don’t get check for more than what’s normally in bank account
    - Lower deposit amount or have paid to title company
- To do
  - Create accounts
  - Get good digital camera or smart phone
  - Business cards
    - Vistaprint
  - Logo
    - 99designs.com
    - Fiverr.com