GETTING MAX DIGITS AT REI CLUB MEETING

THIS IS FANTASTIC !!! I would just add keep an eye on it as it moves through the room because someone may take it because it's sooo valuable to have LOL......

Thanks David,
WALT

Guess what is going with me to my next two REI Club meetings? :) Thank you Coach!

I had to save this document on my computer. This is a nice way to hunt them down.

Lol I will have my partner sit in front and then I personally will stand at the back to watch the list as it moves on. I don't want anyone pocketing it.

Thanks for sharing..

_____________________________
TC
Miami, FL

Hi coach very interesting, thanks for sharing, Jim

Defiantly doing this.. great idea

Thank you so much! Awesome tool

Most REI clubs guard their member info pretty closely. After all, they are spending the money to put on the meeting. Like Walt said, it is valuable information. The club officials may not mind you passing a clipboard around, then again they may. I would not allow it at my club meetings. Exchanging cards and networking is OK. Usually, if you pay for a yearly membership you will have access to other club members.

Just a thought!
Michael

Awesome Idea Coach, As Always
Thank You Dave
Darren From Calif

yea I might try that at my reia meeting they may say something, but I suppose they can say no but I have already gotten some digits from it.

Most Real Estate Investor Groups (REIA's) have websites, and if you go to their website, there will be multiple names and/or contact information for leaders and board members. These are some of the most important people to meet anyway, and could be potential additions to a cash buyers list. So check their website, and if only the name is listed, use whitepages.com or another online directory to look up contact info for them.
Additionally, you should attend the meeting with the intent to meet at least a half dozen seasoned investors. Do not try to have a long conversation with them at the meeting, it is a busy place and they may have business they want to accomplish there. As an alternative, your objective is to make a warm contact, and get their card/contact info. Here's an approach that works when you go up to them to introduce yourself.
"Hi, my name is _______________. (Get their name). It seems like you know what you're doing here, have you been investing for awhile?
"I'm actually new to investing in this area, so I was hoping to meet a couple of people who are experienced investors, so that if I have a question or two, I have someone I can call. I promise not to take up alot of your time, but would you be willing to be one of those people? Can I get one of your business cards?"
You then call them in a few days to follow up. Try using the following script to explain what we do and see if they want to work with you--it works.

“Hi, my name is __________, I don’t know if you remember, we met at the investor club meeting last week, and you told me it would be okay to call if I had a question. Do you have a couple of minutes available now? I promise to be brief.

"I’m calling because I got thinking about you after the meeting. You have a pretty busy job, with a lot of moving parts, and maybe I can assist you.”

(Explanation of what we do as wholesalers):
“We provide a service for a select group of cash buyer investors called “Properties to Order.” What I mean by that is, that if you will provide us with a list of what you are looking for, then we will go looking for ONLY properties that meet your specifications. We will pre-negotiate the deal, and put the property under contract according to your criteria, and that is what we will bring back to you. We will NOT waste your time or ours bringing you random properties that you will probably say No to. We will only bring you properties that you will want to say Yes to. Would you be interested in this?

Thanks for sharing that great information. You couln't have said it any better. I'm about to save this in my yellow note pad/ email draft box. I will definietly be using this in future. you nailed it at the head hmmmmm.

Thanks Coach

Best of luck

Thank you TC, I have found that one of the things that inhibits people in getting started as an investor is that they don't know what to SAY in a particular situation. I've borrowed a lot of people's words along the path as a real estate investor, and now I try to translate those things into usable scripts for others to use. I've posted a few of those recently in other areas on the forum, please look for them if they are helpful to you.
One suggestion for all real estate investors, do your best to use common language rather than real estate jargon. People are more likely to say yes to something that is simple and easy to understand.
Thanks again for your positive comments. Best wishes in your investing.

yea Dallin, when I go to my REIA I usually do the elevator speech and hand out my card and try to get to as many people as I can, it is awesome. Our REIA I heard is one of the best in the country, SDCIA in San Diego.

as a courtesy, you may want to ask permission before you pass out a clipboard at somebody's rei meeting...
personally, I think that the best way to network with other investors is to shake hands with them, exchange business cards, and then follow up with a phone call...

A lot of great suggestions with regard to using and working with REIA groups has been listed here. I'm going to summarize what I've seen here, and maybe add one or two additional methods.
1) Attend the meetings
2) Introduce yourself to other people, shake their hands
3) Give out Business Cards
4) Ask for business cards
5) See if you can pass around a list to gather people's information
6) Stand up in the "Have's and Want's" section and let people know what you are looking for or what you have available to offer
7) Collect people's contact information when they speak during "Have's and Want's"
Go to the group's website, and see whose information is posted as contacts
9) Introduce yourself to group leaders
10) Follow up with people you meet to see if you can qualify them as potential cash buyers, or co-wholesaler candidates
11) Volunteer to help at the meetings, or be a part of a committee.
12) Meet the professionals who attend, like real estate agents, property inspectors, handymen, etc., for potential use of their services.

I especially want to emphasize the idea of seeing how you can contribute to the group. Please consider the following quotation from Theodore Roosevelt.

"Every man owes a part of his time and money to the business or industry in which he is engaged. No man has a moral right to withhold his support from an organization that is striving to improve conditions within his sphere."

Theodore Roosevelt

Guys in this business it pays to network, and it is just as easy to send an email to one person as it is to 1000 people. That being said, harvest as many emails as you can and keep them digitally so that when you do get a killer deal you can send one email out to your entire buyers list in the BCC so they don't poach your buyers list. that way you have people fighting over it and the first one to replace your earnest money wins!

Cheers,

Dave

I'd like to follow along with Dave's excellent comments above in saying that when you send out your marketing information emails about a property, you need to create an urgency with the recipients.
I don't know how many of you have children, but I raised my daughter and three step children in a combined family, and I know from that experience that if you bring home one toy, EVEN IF the other children would not normally like the toy, there is going to be a battle. It works that way with your cash buyers.
Try adding a couple of these phrases to the emails that you send out:
1) This is a screaming deal that is a solid match for several of our cash buyers. It is likely to be gone within 24 hours..
2) We are sending this to you as one of our preferred buyers before we release it to the rest of our buyers. Because of the nature of this deal, we can only give you 2 hours of advance notice--once the property hits the rest of our list, it will go very fast.
3) I wish we had 20 properties like this, they would all be gone within a couple of days. But we only have ONE, and we have included you on this list because you have indicated that you are a serious buyer and can act fast.
I'm sure that there are many other phrases that work, but you have to use a little psychology in order to get people to act.
One additional note is that people aren't always quick to check their emails, but the average text on a cell phone is opened within 60 seconds. If you use postlets.com as a way to compose your marketing piece, you can text the address/url for your marketing piece directly to their cell phones along with a brief statement like one of the above. It will get results MUCH faster.

I love the scenario which you shared in reference to bringing home a TOY to one kid even though the rest doesn't like the toy there is always going to be a battle.
I could relate that to cash buyers as well. I love those phrases which you shared. I'm so glad I stumbled across this post to see your post. I had to save it in my email draft box so whenever I lock up a deal I will definitely be using one of your "ACT FAST" phrases to market my future deals to my cash buyers out there.
I admire your marketing techniques! Your marketing tips will definitely be helpful to me and improve my REI business for sure.

Please I would like to you to share more of those phrases whenever you get more.

Thanks for sharing these great tips

Goodluck in your investing

Thank you, TC for your comments, I'm happy to provide whatever I can to assist. I do find that little adjustments to our wording can change the results we are getting.
In line with that, I have shared a script above to use when you are talking with potential cash buyers to introduce what we do. It is imperative to completing deals and assigning contracts or selling properties that we have crystal clarity as to what a cash buyer will actually say YES to. If you have ever been on the telephone asking a cash buyer what they are looking for, only to have them say: "Oh, just bring me anything that will make money!," you understand what I mean. These same people, after you have gone out and sweat bullets to find a property that will make money and put it under contract, will take two seconds looking at the deal and respond, "Nah, not interested, what else ya got?" Now that's just plain abusive, but it comes from them not really understanding what we do. They THINK we're going to bring them a long buffet list of properties that they can pick and choose from, rather than specific properties that are tailored to their needs.
The solution is to clearly explain what we do in a way that they "get it." And to make sure we don't let them off the phone with just a vague idea of what they want. We've got to push them to learn what they will say yes to, and when they need it. I know that I shared this brief script above, but here it is again:

“We provide a service for a select group of cash buyer investors called “Properties to Order.” What I mean by that is, that if you will provide us with a list of what you are looking for, then we will go looking for ONLY properties that meet your specifications. We will pre-negotiate the deal, and put the property under contract according to your criteria, and that is what we will bring back to you. We will NOT waste your time or ours bringing you random properties that you will probably say No to. We will only bring you properties that match your needs and that you will want to say Yes to every single time. Would you be interested in this?"

Most times, this will pique their interest sufficiently to go through the list of questions to find out what they want. But if they still are unwilling or unable to give details, here are a couple of additional things you can say to "adjust their thinking."

"I appreciate that you are trying to be very open, but if we are going to go property shopping exclusively for you, we've got to know what you will say yes to. So, let's try this, if you can think of a property that you have done recently that was a success for you, let's use that as a model, and we'll come as close to matching that as possible."

Or how about this one:

"You know, we talk with a number of people who are interested in our services, but only a few can be at the top of our buyer's list, and those are the ones who get the hand-picked properties--everyone else gets leftovers, and you just don't strike me as a leftovers kind of person. We can provide you with several services as we go along that will help your business grow, but this is step one, and we take it very seriously, and ask that you will do the same, we need to know what kind of properties you will say yes to."

In these conversations, we are using psychology with them, and trying to help them to recognize the value of what we provide--BUT, we are also planting in their minds that if we do our job effectively, they have committed themselves to say yes to the properties we bring to them.
We will also emphasize that when we contact them to let them know we have a property for them. As I have mentioned before, I let them know that the property is a "screaming deal" and that I am looking at their list of criteria right now and this property is a solid match with what they have told us they will say yes to. I want them to feel obligated to examine the property and to say yes, and that if they don't jump on it, someone else will, and they will miss out.

Hope this provides some additional information that will be helpful in building your cash buyers list.

Thanks for your time putting all these together. You got me fired up this week. I was able to overcome "fear of unknown" and was able to search online reiclub.com to get like 3 big REIA in my area of area of investing and one was close to where I stay.

I know I can use these phrases which you shared for both REIA and AOA. For instance, how can I be able to identify a tired Landlord in both of these meetings. I know you said we should not start screening them when I meet them in the meetings. You said we be like "Hi, my name is _______________. (Get their name). It seems like you know what you're doing here, have you been investing for awhile?
"I'm actually new to investing in this area, so I was hoping to meet a couple of people who are experienced investors, so that if I have a question or two, I have someone I can call. I promise not to take up alot of your time, but would you be willing to be one of those people? Can I get one of your business cards?"

Here is my question how can I identify if he or she is a tired landlord who might have a property they would like to sell right now or in future?

Thanks a lot Coach

Can I use the same scripts when I call up builders and developers in my area of investing so I can add them to my list and look for the lots which they want?

Thanks

Hi TC, thanks for posting. Generally, when we are approaching people at investor clubs, we are looking for cash buyers, not for properties.

To find the tired landlords, I call on "For Rent" listings from craigslist, from local newspapers, from "For Rent" signs on the front of properties, etc. That is a completely different script, which I know I have posted, but am including here again:

Calling on "For Rent" Properties:
Hi, I’m calling about the rental property ad that I found on __________________. Am I speaking with the right person?
What else can you tell me about the home besides what is in the ad? (Compliment them on the property)
At the conclusion of their description of the property:
Wow! It sounds like a nice property, it sounds like what we are looking for. There is one thing that is important to us, and that is that we would ALSO like to purchase the property. That could be now, or sometime in the future. Have you ever considered selling this property sometime in the future?

Three possible answers—Yes, No, or Maybe. For yes or maybe, make arrangements to see the property, they are open to negotiation. The property could possibly be a property for a wholesale deal, or even more likely for a Sandwich Lease Option transaction.

Note also, that if they say No, that simply means that they are not open to sell the property. These same landlords might be good candidates to become cash buyers, so use the following brief script to find out:

"You know, I certainly understand, it sounds like you are not looking to sell properties right now. But you are a landlord. I didn’t mention before but we are also real estate investors, and I wondered if you are interested in acquiring more rental properties. We may be able to help with that. Is that something you would be interested in?"

TC, In answer to your question about whether the explanation Script will work for builders and developers, I see no reason why it would not. We would be applying the same process to find properties for them, so the explanation of that service would be the same--it's another version of "Properties to Order."

Thanks so much. Actually, I have been using that script for the past one week or so after you posted it on here.

What I do is that I email lots of ads on padmapper.com, roomster.com and CL instead of calling to save time. I

Subject: I'm interested in the house for rent
Hello, I'm emailing you about your rental house that I found CL. am I emailing the right person? Well, I know what it says in your ad, can you tell me a little more about the house? BUT, Actually, Wow it looks like a nice property, just what we are looking for. There is one important thing for me, though, and that is that I would ALSO like to purchase this property, maybe sometime in the future. Have you ever considered selling down the road? (if I see its listed with REA I be like have the seller considered selling down the road?) Thanks for your time.

I have been getting lots of leads and great responses mostly from REA agents. Honestly speaking these leads could be overwhelming sometimes like in terms of keeping up them. So right now, I have decided to create a solution to this problem by writing down each lead on my yellow note pad and then I will follow up with them one after the other.

I would be lying if I say your different marketing techniques hasn't been helping me. They've been working out amazing for me and I can't wait to share my successful stories with you and to the entire DG family.

You're awesome and Thanks Coach

Thanks so much. Actually, I have been using that script for the past one week or so after you posted it on here.

What I do is that I email lots of ads on padmapper.com, roomster.com and CL instead of calling to save time. I

Subject: I'm interested in the house for rent
Hello, I'm emailing you about your rental house that I found CL. am I emailing the right person? Well, I know what it says in your ad, can you tell me a little more about the house? BUT, Actually, Wow it looks like a nice property, just what we are looking for. There is one important thing for me, though, and that is that I would ALSO like to purchase this property, maybe sometime in the future. Have you ever considered selling down the road? (if I see its listed with REA I be like have the seller considered selling down the road?) Thanks for your time.

I have been getting lots of leads and great responses mostly from REA agents. Honestly speaking these leads could be overwhelming sometimes like in terms of keeping up them. So right now, I have decided to create a solution to this problem by writing down each lead on my yellow note pad and then I will follow up with them one after the other. I would be lying if I say your different marketing techniques hasn't been helping me. They've been working out amazing for me and I can't wait to share my successful stories with you and to the entire DG family.

You're awesome and Thanks Coach

sorry about that..

TC, glad to hear from you that this is working for you. And I'm pleased to see that you have created your own version of how to apply the information. It's exciting to see the variations we can use in real estate investing.