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Read Transcript for “Can You Show Me Where To Find The Good Deals?”
There are tons of good deals on the market these days – you just need to know how to find them and then how to talk to sellers. I’ll show you how to find those deals…
“I just can’t seem to find any good deals. Can you show me how to find the best deals on a regular basis rather than one every few months?”
Joe: If all you’re looking for are properties that are 50% under value, those properties do exist and are out there, but most of the time what I find is that the ones that are really substantially under market value are in warzones. They’re in areas that you really don’t want to go and wouldn’t live in. They’re also properties that are in terrible condition; they’re going to take a lot of rehab.
Joe: You can make money on those deals – you can make a lot of money on those deals. But rather than working in those areas, why not work with deals with deals in better areas that maybe don’t have quite as big of a discount but still make you money and make it possible for you to do multiple deals? You’d be doing lots of deals – instead of doing one deal every four to six months, you’d be doing five deals a month, or ten deals a month – and then just keep flipping those properties and have that money coming in all the time.
Joe: The way you do that is by using the marketing I’m teaching to bring in buyers and sellers. Building lists of buyers and sellers and investors is a vital part of what I teach. You have to automate the process to make it easy and make it into something you can manage. You have to build databases and use autoresponders, and you can do all of that with the tools that are in this program.
Joe: There are a lot of people that are looking at pre-foreclosure listings. There’s money to be made in pre-foreclosures and a lot of the deals that we end up doing ARE pre-foreclosures, but we don’t go to the lists and ask them to sell their house. What we do is we advertise in places we know and have them come to us.
Joe: When they come to us, it’s a lot more fun, a lot easier and lot less stressful. You don’t have to worry about them hanging up the phone on you. In fact, they’re calling you up and asking for your help. So you can make them an offer and do good things for them and put good things into the world.
Joe: There are a lot more deals than you can possibly realize. The competition is much lower than you can imagine. If you go into the newspaper and look for the ‘I buy homes’ ads that are in there, there’s probably half a dozen. I know the last time I checked Atlanta, they had 30 of them in there, i.e. ‘we buy homes, we’ll pay for cash,’ etc.
Joe: If you go through those lists and call 10 of them and tell those people, ‘I’ve got a hot property for sale. I’m desperate. I really need to sell this thing quick. Would you please give me a call and make me an offer on my property?’ 1 in 10 of those guys is going to call you back. I know you don’t believe me, but try it. Try it and see if it doesn’t happen.
Joe: These people are not calling back. They’re spending a lot of money on these ads. You run an ad in the paper for a week and it costs you $400. In Atlanta, if its 7 or 8 lines, you can run ads where you’re spending $400 or $500 a month on a regular basis. You’ll see the same ads all the time but they don’t respond to the calls when you call them. Why is that? I mean they’re just throwing money away.
Joe: What that tells me is they don’t really know what they’re doing. They’re wasting money, they’re trying new ideas, and maybe they’ve read a book here or they’ve read about a technique there, they saw all the people doing it and they said, ‘Let’s try it and let’s see if I can get any good deals.’ And what they’re seeing when people are calling them is that they’re not getting any good deals. They’re not getting the 50% under market value properties that they thought they were going to get when they ran this ad that some teacher or some book told them that they were going to get when they ran this ad.
Joe: What they’re getting instead are deals with people that have mortgages that are very high or close to market value. They can’t sell their property, don’t have a realtor and don’t know how to sell their property.
Joe: Those are people that we can help. We can go out and make $5,000 to $15,000 on people that are in those situations, even though they don’t have much equity in the property, by using the structures and the techniques I’m teaching and using marketing and technology that are beneficial to the person who is selling the property.
Joe: One of the things that is very important to me is that you benefit the people that you’re helping, whether it’s a buyer or a seller, that you’re doing it in an honorable or ethical way – that you’re not ripping off some old lady from her inheritance to her kids. You’re actually doing something that’s going to help these people out of a difficult situation.
Joe: There are a lot of different descriptions of what a difficult situation is. What you think may not be painful may be very painful for somebody else. You may think, ‘Oh, it’s just divorces and deaths and things like that.’ Well it’s not just those things.
Joe: We had a situation once where a woman had an ex-boyfriend who lived across the street, and her ex-boyfriend got a new girlfriend. She had to watch them walk in and out of the house every day and she couldn’t stand it. She had to move and she needed to sell that property. She was very grateful to us when we were able to take that property off of her hands. She didn’t have to screw up her credit to walk away from that property. She couldn’t have sold it any other way. Hopefully that answers the question.