Flip Tip Summary
Who doesn’t want to do more deals in their real estate investing business? Nobody! What’s the key? Vena Jones-Cox, the Real Estate Goddess, tells us more in this FlipNerd.com VIP Flip Tip.
Flip Tip Transcript:
Mike Hambright: Hey, it’s Mike Hambright from FlipNerd.com, and we have a quick flip tip to share with you from Vena Jones Cox who is going to share the number one key to doing more deals in your real estate business.
Vena Jones Cox: OK, are you ready, this is really big. Get out a pen, a piece of paper and get ready to write. Because this is huge, ready. Get more leads. This is a numbers game. You know, I’ve been doing this for 25 years and I’m still at that number that everybody talks about. Were about 1 out of 20 leads is motivated enough and has the right property, in the right area and can take the price and so on. And that’s how many deals I still close after all of these years is about 1 out of 20. Depending on your strategy that number may be 1 out of 25 or it may be 1 out of 15.
But obviously what that means is if you want to do one deal this month. You’ve got to find 20 leads this month. And if you want to do one deal this week, you got to find 20 deals this week.
It’s simple mathematics, and I don’t know why people don’t get that. They expect me to wave a magic wand and allow them to turn more of their unmotivated sellers into motivated sellers, that’s just not the way it is. The key to doing more deals is generate more leads.
Mike Hambright: Thank you for joining us for another FlipNerd VIP tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
Vena Jones Cox: OK, are you ready, this is really big. Get out a pen, a piece of paper and get ready to write. Because this is huge, ready. Get more leads. This is a numbers game. You know, I’ve been doing this for 25 years and I’m still at that number that everybody talks about. Were about 1 out of 20 leads is motivated enough and has the right property, in the right area and can take the price and so on. And that’s how many deals I still close after all of these years is about 1 out of 20. Depending on your strategy that number may be 1 out of 25 or it may be 1 out of 15.
But obviously what that means is if you want to do one deal this month. You’ve got to find 20 leads this month. And if you want to do one deal this week, you got to find 20 deals this week.
It’s simple mathematics, and I don’t know why people don’t get that. They expect me to wave a magic wand and allow them to turn more of their unmotivated sellers into motivated sellers, that’s just not the way it is. The key to doing more deals is generate more leads.
Mike Hambright: Thank you for joining us for another FlipNerd VIP tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
