#4 Reverse Cold calling

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If you ever had to do cold calling or door-to-door sales you know exactly how it feels. Even if you know the script it's still uncomfortable. Now conversely I have not come up with this idea but I just coined the idea of the thought which is reverse cold calling. Instead of you reaching out to people they reach out to you. And guess what they're still angry. I still get the proverbial doors slamming in your face. Lol.

My first real estate deal. How I made $14,000 in 3 days.

Real estate has always been one of those very interesting topics for me. I have spent hundreds of hours listening to different podcasts on real estate and different ways of doing deals. I've learned how to use hard money, contract sales, yellow letters, driving for dollars, buy and sell, fix and flip, and pretty much anything else there is out there. One of the big podcasts I used to listen to that got me very excited was called bigger pockets. When I first thought about real estate I thought that I had to buy it. Interestingly enough I found out that I could just get it under contract and sell the contract. This technique is called assigning the contract. It is not a very attractive approach to some real estate people in the industry but it has its place. In this story I actually did not assign the contract but I did purchase the property and sell it all at the same time. I did not lie about the condition of the property the pictures showed exactly how bad the situation was. I listed the property and relisted it every 4 hours on craigslist. Within 3 days I had the property sold and the cash in my hand. If only it was that easy. I performed a task called driving for dollars which was extremely effective in finding properties that were great buys but did not necessarily mean I was going to be able to do anything with them. I would write these properties down in my phone then later I would find the addresses and send out handwritten letters. I sent out a total of seven rounds of letters one every week to 40 different properties. Talk about a sore hand. This proved to be ineffective. While listening to another podcast by a gentleman named Matt Thereu (something like that) which informed me that if I was done sending letters that I should send a final letter that was attached with an official offer. So I did this everyone got an offer whether they were interested or not they got an offer. Fast forward 4 months someone called. This someone was interested in selling for the offer that I sent. I looked at the property took a ton of pictures and shook hands. I drove out to his house which was about an hour away and we signed a contract. I went over every word of the contract with him to ensure that he is comfortable with it. Three days of listing and talking with people on the phone I gained a few things. A cash buyer's list, these people that called me were cash buyers that I could then use if I found more properties of the same caliber. Maybe they were not interested in this particular property but if I continue down this path I would have now a list of people that I could call instead of having them call me. this would now put me in a position which is called wholesaling. I did not ever do any wholesale deals.

4 de nov de 202014 min

#4 Reverse Cold calling - Real Estate

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