Welcome to the podcast! Today Gavin and I are on a coaching call with student Ryan Schwab, whose target market is Grand Rapids, Michigan.
We believe you can benefit from these calls just as if you were the student involved; our goal is to help people grow and do more deals. My agenda in all courses and coaching is to increase cash flow and decrease overwhelm.
Ryan took my Simple Lease Options course and also completed our Business Setup Challenge and, for that, he’s getting a refund of the course fees.
Ryan makes 10-15 offers a week even though he still works full time. That’s great! And he uses virtually all the automation features on REI Simple. Also great.
After contacting leads using SMS, he’s calling those that said yes and maybe. I recommend that he also call the people who say no. Something may have happened since that 1st contact to make that rental unappealing.
Don’t immediately try to educate seller leads about lease options. Instead, ask more general questions about why they are considering a sale. You need to find out what they find painful about the property.
Once you know the pain point, offer a solution for it. Does the seller have an emotional or familial attachment to the property? Has he had trouble with repairs or tenants? Find out.
Follow up with every lead using REI Simple. Keep good notes so you can remind the individual of your last conversation. A little time and a lot of follow-ups can firm up a seller’s resolve to complete the sale.
I recommend that Ryan get a VA as soon as he can. The VA can learn REI Simple and do lead management and follow-up. He needs to free up his time to work on high-dollar tasks.
Listen and Learn:
- Make more money and keep it simple using marketing, automation and delegation.
- Potential sellers often say no to lease options because they don’t understand them.
- When talking to potential sellers, ask the questions and control the conversation.
- The fastest option for closing a deal is likely already in your CRM.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast or REIM Podcast
- CRM and more: REI Simple
- Video about successful virtual wholesaling: VirtualCaseStudy.com
- Property status info: PropStreamJoe.com
- Quick follow-up letters: Click2Mail.com
- List building: ScrapingSolutions.com
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