Today’s REI Classroom Lesson
Jon Iannotti discusses the need to build up your buyers list and find out from the buyers what areas they’re looking to purchase in.
REI Classroom Summary
Jon shares how he builds his list of buyers consistently.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the flipnerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Jon: Hi, everybody, John Iannotti here again with REI Classroom. And today’s lesson is how to build your buyers funder list.
Mike: This show was sponsored by Passiverental.com.
Jon: I call it a buyers funder list because to me anybody who brings money to the table to do my deal funds my deal. So they’re not only just buyers, they’re also funders. It could be private money, hard money, IRA money. It could be a buyer with cash, a buyer with a loan. It could be a tenant buyer. All those sources fund my deals and they fund your deals as well.
What I like to tell everybody is he who has the biggest funder list wins because it’s easy to get properties today. The key to the whole business, though, is getting them sold, getting them funded. If you have a funder list, a buyer list, that is constantly replenishing itself and becoming fresh and huge, now you’ve got something because you can go target market areas and bring in properties for those funders because they’re going to tell you where they want to live, what kind of property they want, how much cash they have or how much down and how much a month they can afford.
Again, it’s the buyers funder list that is key because properties today, like I said, are simple to get because we can get the motivated sellers and we can also get the non-motivated sellers. They’re the guys who just want to sell, they want full retail price. It doesn’t matter. Get them. Put them under agreement.
The funder list you have to constantly build because it’s about every 30 to 45 days a funder is no good because they’re looking for something today and if you don’t have something for them today they’re going to go find property from somebody else. The guys who say, “Oh, I’ve got tens of thousands of buyers on my list,” no they don’t. They have names on their list. They’ve built that over years. But those people are still not looking to buy something or rent to own something today. Thirty to 45 days, that’s all they’re good for. You have to constantly be replenishing them.
How do you do it? Well, let me give you an ad that I ran when I first started years ago. This thing generated 75 leads a day for me and it was crazy. It’s a simple ad. I put it in the paper. It was, “Call to qualify for new rent to own program,” and I had my phone number. Well, my phone blew up. This was back 15, 16 years ago. That ad still works today. Try it. You only have to run it a few days. You won’t have to run it very long.
Squeeze pages, you’ve got to have squeeze pages, guys, to capture people coming into your system so that you can get their contact information, put them into an auto responder so that they’re getting hit maybe every two, three days for, say, a month with information. You’re constantly giving them information so that they’re coming back and checking your website out. You want to do stuff like that. So you want to do stuff like that.
Your fliers that you’re putting out, you want to have . . . I use both sides of the paper. One side I’m buying houses, the other side I’m selling houses. So you don’t know who’s going to pick that up. You may want to put it . . . okay, here’s a little sleazy, slimeball trick. You know those freestanding newspaper stands that are along the road where they have the magazines in them or the “USA Today” that kind of stuff? The realtors put those things out all over the place. Well, I put my flier in each of the magazines inside there. So now when somebody who’s looking to buy or sell picks up one of the realtor’s magazines, they’re also getting my flier as well. That’s a little sleazy, but, hey, it works. A little slime now and then doesn’t hurt anyway.
So again, build that buyers list, that funder list. That is number one. You constantly build it first, then you can get the properties, depending on where your buyer funders are looking. You can target market your areas. You can use Every Door Direct through the usps.com. That’s the postal service. Every Door Direct, you can target market neighborhoods to mail into to get properties. But the main thing is to build your funders list. Thirty to 45 days, that’s all they’re good for. Keep replenishing it. Keep touching them. Keep in contact with them with auto responders. You can text blast them when you get a new property. So I mean, build your buyers funder list. That’s key to your business.
Okay. Once again, Jon Iannotti. If you want to learn more, go to buyreactnow.com. That’s buyreactnow.com. Or, usamd.com, USA Marketing and Development. We look forward to hearing from you. Hopefully, you’ll come on as a member and we will explode your business with you. Take care and I’ll see you on the next class. Bye-bye.
Mike: passiverental.com is your source for turnkey done-for-you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.
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