Today, Justin Wilmot shares his strategies on emailing his cash buyers list.
From sending out weekly newsletters to sharing properties, Justin explains why and how often to contact your buyers list.
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.
Justin: Hey, guys. Justin Wilmot here, the 10-Hour Wholesaler, and I will be your educator, ninja teacher, for today’s REI Classroom. And today, we’ll be talking about the correct way to market to your cash buyers list.
Mike: This show was sponsored by passiverental.com.
Justin: All right. Justin Wilmot here again, the 10-Hour Wholesaler. And look, today, we’re going to be talking about marketing towards your cash buyers list and the most effective way to do it. So one thing I kind of want to help people with and I’m just out here giving this information because I really want to see people stop struggling and start doing things the easier way and be more effective. And there’s a common misconception that you can get a property under contract and then just email it out to a buyers list that, hopefully, you’ve created right now, and expect to sell the property.
Now, if the property is a smoking hot deal, meaning at $0.50 or $0.60 below market value, sure, you can just put one out on Craigslist in a market we’re in today and sellers’ market, and that baby is sold. But if you’re getting properties under contract at 70, 80% of market value, which is pretty typical these days, especially when you’re marketing toward more retail cash investors or landlord investors, one email and expecting to sell the property is just not realistic. So can it happen? Sure, it can, but why would we hedge on that? So I want to help people avoid frustrations of the expectation of saying, “Get a property and a contract, email it to your list, and sell that contract.” It’s just not going to be that simple.
So one thing that you could do is, even when you don’t have any properties, email your list on a weekly basis, some sort of newsletter or something to add real value to your buyers. One thing that could be is a local . . . maybe a recent article about how the rental market is doing, maybe something about how prices have increased 2.5% since x. It’s really just a Google search away, with your county, search local real estate news. Read the article, summarize the article in an email, like we like to use Get Response, summarize that article, provide the link to that article, and now you’re providing real value. So that should be done on a weekly basis and now, you’re adding credibility and value to the space.
Now, when a property comes out, don’t just email it once. Email it, whenever somebody opens it, they should get a phone call. So when you’re using an email provider like Get Response or MailChimp or any of those providers out there, you can see who opened it. Once they open it, give them a call, write a script. Your script should go something like, “Hey, I saw you opened up the email about the property on 123 Elm Street. Do you have any questions about it?” The same thing with the text. When you send an email out, follow everybody up that you believe will be the top candidates for that particular property, and text them. And say, “Hey, we just sent an email out. I want to make sure that you saw this before everybody else,” or, “I want to make sure that you had a chance to take a look at it before everybody else. Do us a favor and open up that email.” So stay on top of it.
And then, thirdly, email again. If we have a property under contract for more than a week, our list is going to see that at least three times, and we’re going to follow up with a text and phone calls. All right. So those are some tips for you for effective email marketing.
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