Want to know a secret? Something that’s resulted in putting together more deals than I can count?
I have a client in San Francisco who I worked with back in April 2012. I’d been working with my client since the November of the previous year, teaching him how to find, work, and secure leads by using the Rule of 56. While in California visiting, my client told me he had a beautiful home (that’s code for completely trashed) in a nice neighborhood that he had gone “out of his way” to track down the owner.
So, I ask him what he’d done to find the owner. He said he went to Craigslist, searched on Google, tried People Finders, and even paid to $25 for a report. He’d contacted the owner’s nephews, nieces, cousins, and nobody knew where this guy was!
Clearly, at this point, I’m intrigued. So, while I’m out there doing business, I ask my client to show me the property.
He took me out to the property near UC Berkeley, behind the beautiful Clarion Hotel. This property sits right below the Clarion. The piece of land the house sits on is worth a million alone. Fix up the house, and the property value was $1.5 million without blinking an eye. And this was back when Facebook, just 20 minutes away, was turning out thousands of millionaires in the bay area via the IPO.
To get to the front of the house, we literally walked over trash, tumbleweeds, boards, and piles of garbage. Under it all, I could sort of see a house, but it was quite a trek to get there.
Now, I did something at that moment that if you will employ this one strategy into your business, you will make more money than you could possibly imagine.
This is my secret, but I’ll share it with you. I need you to pay attention and write this down.
Are you ready for it?
Here it is.
I knocked on the door.
It opened. “Can I help you?”
“Good evening, Sir,” I said. “My name is Lee Arnold. We’re real estate investors who love this neighborhood, and we’re looking to buy property in the area, and I’m curious if you knew of anyone willing to sell.”
What do you suppose he said?
“Well, I might be willing to sell,” he said.
Really?! Shocking, right? I mean, this guy had a proverbial billboard in front of his property saying, “I hate this home, come buy it from me.” No one trashes a house they love. (I wasn’t surprised by his answer, in case my sarcasm didn’t properly translate.)
So, my client continues to go back to this property, building a relationship with the owner. A few weeks later, he sends me a message stating that he has another appointment with the homeowner. So, I told him, “Do not leave that house without getting a signed offer.”
“But,” my client protested, “he hasn’t accepted an offer I’ve made him.”
I told him it didn’t matter and to print off a purchase and sales agreement with his name on it and the homeowner’s name on it, and to GO!
So, he went.
Then, I got an email from my client later that day saying the man accepted the offer and signed the agreement.
“Great!” I said. “What’s the price?”
Want to guess what my client paid for that $1.5 million property?
All because my client followed the Rule of 56, created leads, and then followed up with them until he got an offer accepted.
I cannot tell you how many clients I have through the Lee Arnold System of Real Estate who spend all this money and energy producing and creating leads, and then they don’t mail, they don’t call, they don’t follow up, and they don’t write offers. Then, they wonder why they’re not succeeding.
It’s not too difficult.
If we sat down together and I asked just three questions, I could find out the status of your business.
- How often are you mailing?
- How often are you calling?
- How many offers have you written?
If you’d like to have a six-figure business in the next twelve months, all you have to do is follow this simple rule. To read more about what the Rule of 56 is and how to use it in your business, CLICK HERE.
Do you want to have a good problem to have? Be UNABLE to call all your leads because you have too many. But, until you’re overflowing with people wanting to sell you their house, you need to follow this simple formula to success. Then, once you have your pick of the deals, where do you go to get them funded? (I’ll help you out; the question is rhetorical).
If you’re ready to start working with private money lender that puts you first, COGO Capital, call us at (800) 473-6051 to discuss your deal or go to CogoCapital.com to receive a rate quote. For our latest success stories, click HERE and HERE to read how others are finding, funding, and making money on their deals.
We can teach you what to say in your letters to yield results.
We can instruct you on what to say on your phone calls.
We can help you find events.
We can show you how to make offers.
Let us help. Call 800-533-1622 to talk to a business developer or attend an upcoming Funding Tour to learn how to solve the riddle of your journey to success.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing