Don’t Look Without Offering

There are few similarities between purchasing your home (your primary residence) and buying a distressed house with the intent of fixing it and retailing it back into the market.

For instance, when purchasing your own home, you will look at the house before deciding to make an offer. You’re going to make sure it’s a layout you like, and the quality is what you expect.

That isn’t the case when looking at an investment property.

You don’t always get the opportunity to look at a distressed home before buying it. At auction, for example, you may have driven by the property before putting in a bid. But if you find a property on the MLS or made an appointment with the owners, if you have the option to view it, you better be ready to make an offer.

WHY LOOK AT IT, THEN?

Contrary to popular belief, you don’t get in your car, drive across town to look at a property to determine IF you’re going to buy it or not.

You look at a property to determine the price you’re going to offer! You need to already have numbers on paper of what the property is selling for, what it’s worth after it’s fixed up (the ARV, or After Repair Value), and what the comps in the area are.

 

“But what if it has mold?” 

Then the price goes down.

“But what if it has fire damage?” 

Then the price goes WAY down.

 

WHY ELSE?

Sure, if you’re a newcomer and you see a house that you know is way over your head, I’m not saying that you’re locked in just by looking at it. As long as you have leads flowing and more houses lined up, pursue the next one. But you better have an offer ready, even if it’s a low-ball one.

But why?

Looking at a house without the intent to make an offer can kill your productivity.

 

  1. It’s a waste of your time. Looking at a property without intended commitment isn’t income producing. I can’t tell you how many people are afraid to make an offer because they think their MAO (maximum allowed offer) is too low and they figure the process will be a waste of time. Then, someone else comes along and gets that property for the same amount or less! It doesn’t happen every time, but you don’t know unless you try, and you’re not trying out of fear.

 

  1. You haven’t given feedback to the owner about what the price should be. If you’re looking at a FSBO (for sale by owner) property and they’re asking too much, your first inclination might be to let someone else burst their bubble. Many homeowners, regardless of whether or not they’re in distress, put an unrealistic price tag on a house from sentimental value alone. If you don’t give them an appropriately priced offer, they may never get any offers, and then they may end up TRULY distressed.

 

  1. It creates a false sense of accomplishment. If you have to make an appointment, get in the car, drive across town, put on your professional slacks and smiles, and take the time to view a property, you’re going to wipe your brow when it’s over and feel accomplished that you took a step.

 

I’m all for taking one step after the other, but the work has barely begun. Don’t pat yourself on the back just yet! Take the next step and write the offer!

At first, it can be tricky knowing what to do and what not to do, what to look for, how to write up an offer, how to communicate with a homeowner, etc. You may feel like you need to ease in, like inching forward in the icy water, acclimating with each step.

Jump in!

Not only will you acclimate faster, you’ll make all your mistakes right away (because you WILL make mistakes), and then you can move on to success.

If you want to make less of those mistakes, know what to do, what to say, and how to offer, might I suggest some assistance? If you can’t catch one of our upcoming FUNDING TOURS, try jumping in full force by getting a coach. For more information on what will help launch you forward into making offers faster, call us at 800-533-1622, and we’ll help you figure it out.

 

Don’t view a property just to see it. See it with the intention of making an offer.

Otherwise, spend your time on things that are income producing.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

Follow me on Twitter: @CogoCapital  and @LeeArnoldSystem 

Have a deal? Visit us at www.cogocapital.com to fill out your fast and easy quote. Want to learn more about COGO first? CLICK HERE to get to know all the ins and out!

S.W.O.T. Analysis

Last week over on my Lee Arnold Blog, I wrote about 5 of the best qualities of a CEO. Today, I’d like to do a deep dive into what it takes to get you there.

There are so many traits a good CEO must have. But, how can you understand and pile on a bunch of positive attributes if you don’t know where you currently are and how you can improve?

You need to start with the basics; a baseline of self-discovery to build upon or trying to stack traits could feel like throwing wet noodles against the wall. Some might stick, but most will fall behind the stove.

Grab a sheet of paper and set it up like the photo below (or print this PDF here: S.W.O.T)

Print me!

Strengths:

 

First, list all your strengths.

 

– What do you do really well?

– Who do you have on your team?

– What do you offer that is different/better than your competitors?

– What parts of your business are you passionate about?

(Without passion, you won’t make much money, but without money, you’ll lose your passion!)

– What are your business strengths? Are you detail oriented, outgoing, analytical?

– What are the assets you can contribute?

 

Weaknesses:

 

 Next, catalog your weaknesses.

 

– What parts of business are you weak at?

– What are the weaknesses in you that others are likely to see?

– What do you despise doing?

– What can you delegate/avoid?

– What weaknesses can you work to improve or manage around?

– What factors are costing you money and need to be addressed ASAP?

 

Understanding your weaknesses is vital to your success. It shows you where you need to navigate, what you can delegate for the best results, and hints at what you can automate for optimal time management. No two businesses are alike, as everyone has different strengths and weaknesses.

 

Opportunities:

 

It’s important to know what you have going for you. List your opportunities.

 

– What opportunities exist for you? Time, marriage/partnerships, being close to retirement, having money to invest, skills, education?

– Look at the people you can get to know, the events you can attend, the connections you can make.

 

Threats:

 

Don’t be shy. What is threatening your business?

 

– What obstacles are you facing? Cash flow problems? Time constraints?

– What are your competitors doing?

– Is your spouse not on board? (Convincing your spouse may be your biggest sale, but I highly recommend you get on the same page before moving forward.)

 

Like knowing your weaknesses, understanding your threats is essential for the prosperity of your business. Though it isn’t fun to dive into the aspects that are potentially menacing, it’s much more threatening not to.

 

Take the time to analyze yourself and your business, then press forward. Attend conferences, hire out your weaknesses, and focus on building and USING your strengths. Take advantage of your opportunities and decide how to handle your threats. In this, you’ll propel your work forward.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

Follow me on Twitter: @CogoCapital  and @LeeArnoldSystem 

Have a deal? Visit us at www.cogocapital.com to fill out your fast and easy quote. Want to learn more about COGO first? CLICK HERE to get to know all the ins and out!

 

Attracting Money

It’s easier than you think, and has very little to do with YOU.

What is the #1 thing you need to be successful in Real Estate?

Desire? Well, you need that, but no. Information? Yes, you’re going to want tons of it, but not quite. Connections? It will help, you’re almost there.

You need a DEAL.

Credit, finances, ability, health–none of these are deal breakers. If you don’t have a deal, you don’t have a business.

So, what keeps people from engaging in finding deals?

Fear? Not knowing where a good deal is? No! Those are common objections, but they aren’t the main doubt.

The number one opposition from people is that they think they don’t have the money. You don’t need the money first (READ MORE HERE). You can build relationships with lenders, but truly, you need a deal first, and the money will follow.

So, how do you “attract” the money you need?

For starters, money is not attracted to you. Money doesn’t like you. Money likes opportunity.

In order to attract money, you need to create opportunity.

Money wants to insert itself into a vehicle where it can grow and get fatter.

You don’t necessarily represent that opportunity as an individual, and so it isn’t attracted to you. You can be education,  highly skilled, have contacts. But at the end of the day, you have to have an opportunity. In real estate, which comes in the form of property; what you purchase the property for, what you make it worth through rehabbing, and what you sell it for.

You make your money when you buy. You realize your investment when you sell.

Repeat after me: “I make money when I buy.”

If you don’t buy right, I don’t care how pretty you make a house; you will lose money. You have to analyze the NUMBERS.

We often think “location, location, location.” But, your success is found in “price, price, price!

To determine how much your maximum offer should be on a property, CLICK HERE to read more.

If you’re new, and you still have fears and objections, finding a good deal will seem more daunting than it actually is. But once you get used to running the numbers and making offers, you’ll see them all over the place. Jump in, and learn to swim as you go.

For more on the steps of finding a good deal, why not join us for an upcoming FUNDING TOUR where we will not only show you the details of a good deal, you’ll receive a $250,000 pre-approval letter just for signing up, you know, just in case your objection is STILL that you don’t have the money to put those good deals together.

For more information on our FUNDING TOURS, CLICK HERE or call 800-533-1622.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

Follow me on Twitter: @CogoCapital  and @LeeArnoldSystem 

Have a deal? Visit us at www.cogocapital.com to fill out your fast and easy quote. Want to learn more about COGO first? CLICK HERE to get to know all the ins and out!

A Formula for Real Estate Success

Let’s start today’s crash course with a riddle. When does 25 + 25 + 4 + 2 = Success?

If you’ve been around the Lee Arnold System of Real Estate long enough, you’ll know that 56 is the magic number; a rule to live your week by. Here’s a refresher course. This “Rule of 56” breaks down like this:

WHAT

This is a benchmark for you to hit consistently. This helps you keep track of letters being sent, phone calls being made, time being invested into your work. These are called key performance indicators. If you haven’t made an offer in a while, and you’re committed to making 2 per week, then this is an indication that your performance isn’t where you want it and need it to be.

If you don’t have a yard stick by which you measure progress, then how are you going to know how far you’ve come or where to reach for next?

WHY

In my 20+ year career, I have never known a single person who did the rule of 56 for 52 straight weeks who made LESS THAN $100,000 in net profit.

My goal in relaying to you the “Rule of 56” isn’t to keep you busy. My goal is to help you make money! By following this rule, you’re taking the first step toward entering the Circle of Wealth. My goal is to get you to a place where you have $250,000 in the bank—that’s CASH, not equity or profit. This is your seed capital to continue using for acquisitions, short-term loans, down payments when necessary, and the general cost of things. Your profits will continue to grow, and your $250,000 will not diminish.

Then, I’m going to help you make another $250,000 and another until you’ve reached “accredited investor status” and can make passive income on your money by lending it out to others, making higher interest than you would on a multitude of other investments!

HOW

If you aren’t consistently reaching your goal or 25 letters mailed each week, 25 calls made each week, 4 networking events/meetings each month, and 2 offers made each week, then that’s where we need to start.

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

CEO

The Lee Arnold System of Real Estate Investing

Follow me on Twitter: @CogoCapital  and @LeeArnoldSystem 

Have a deal? Visit us at www.cogocapital.com to fill out your fast and easy quote. Want to learn more about COGO first? CLICK HERE to get to know all the ins and out!

Helping Distressed Homeowners

 

People lose their homes. It’s an awful experience for most, and the situation comes with a myriad of emotions. Although you can help turn the situation into a win-win experience, if you don’t know how to properly tackle the sensitivity of the topic, you aren’t going to help anyone.

I recently walked you through the basics of an Equity Deal (to read and watch, click HERE) and the fundamentals of Short Sales (click HERE). To further your understanding of these processes, you need to understand the etiquette necessary when talking to a homeowner in trouble.

Put yourself in their shoes. Many owners who are on the brink of losing their homes are emotional, desperate, and/or in denial. You must be aware of their position and ready to step forward with confidence.

Tips for Working with Troubled Homeowners:

– First, you HAVE to be respectful. Smile and be courteous. Don’t present yourself as a money-hungry investor unless you want a door shut in your face. You are not doing them a favor, and you don’t have the upper hand. This is a win-win situation. If the owner feels you’re taking advantage of their plight, you won’t build any trust.

– Assure them that you will help if they’ll let you. You need to know what you’re doing (If you don’t, let us help you learn CLICK HERE to learn more about events coming up where you can learn the basics). Appearing as a novice investor will not gain trust. Practice with a friend or spouse if you need to, and deliver your polished pitch with professionalism.

– Explain that foreclosure is inevitable, and if they don’t take action now, they will lose their home at auction. But don’t ever threaten or say anything to purposely upset them.

– If they want to tell you their “sad story,” as many will, listen to them. You will likely learn a great deal about the history of the home and the loans associated.

– Be compassionate, sympathetic, and understanding of their situation. There’s no reason to be rude or disrespectful, ever.

– Don’t force the issue. If they aren’t ready or if you didn’t explain things well, leave and try another time.

– Dress business casual. You want them to feel relaxed around you, but know you are competent.

 

Now that you have some pointers, marry them with this simple process for a winning formula.

1. Contact the homeowner (or respond if they contact you). We’ve talked about how to do this before, but if you still need help getting started, PLUG.

2. Schedule an appointment to discuss in person how you can help, determining their needs and getting the appropriate paperwork signed. If the initial conversation happens on the phone, that’s fine, but express the importance of meeting face-to-face because you need them to sign…

3. Paperwork: You must get a homeowner to sign the proper documentation to begin working with them (each state and lender requires different paperwork, so do your research). Be sure to know what is needed and have it ready to be filled out.

a. Authorization letter: This lender-required document is vital in order to begin working together, stating specifically whom they may release any information to about the loan.

b. Purchase and Sales Agreement: This creates the ability to purchase the property IF the bank accepts the offer, allowing you to be the sole investor with whom the homeowner and bank can do business with. They can be at ease, however, because this document is only valid when the lender agrees to the purchase price or if you offer more than the homeowner owes.

 

Assure the homeowner that they are not signing their life away and should be comfortable with the process! This is simply a step they must take to get the ball rolling, but for you, it is the goal of the meeting.

Stay tuned, we’ll soon discuss where to meet (and what the pros and cons are of each location) as well as questions to ask them along the way. For now, continue to make contact with homeowners; send out those letters, make those calls, and refresh your ads for maximum exposure!

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

To challenge yourself personally and in your business, CLICK HERE.

Follow me on Twitter: @CogoCapital  and @LeeArnoldSystem 

Loan-to-Value and You

- - Uncategorized

An LTV (or loan-to-value) ratio is an important part of underwriting, and as such, deserves your understanding in order to comprehend the process of your loan.

The loan-to-value, or LTV, on a property is determined by taking the debt owed divided by the fair market value. Let’s say a house is worth $150,000 and the owner’s outstanding debt is $112,500.

$112,500 / $150,000 = 0.75 or 75%

The LTV on this property is 75%

You’ve probably seen this equation structured differently: Fair market value minus the debt owed, which equals EQUITY.

$150,000 – $112,500 = $37,500

The owner has $37,500 in equity in the home.

So why are these numbers important?

LENDERS

First, because it factors into determining the details of your loan, including how much money a lender can offer. All lenders evaluate the LTV to determine their level of exposed risk. This is why the value of a property alone is not enough information needed to process a loan application.

The higher the LTV, the more risk there is to a lender so the interest could be higher. The lower the LTV, the less risk to the lender, equaling a lower interest rate. Essentially, it shows if the value of the mortgage could be recovered from the value of the property. Private money lenders are also concerned with the amount of equity the borrower has invested in the property because it can be used as collateral.

BORROWERS

The LTV is equally important for a borrower. The lower the LTV, the higher the profit margin (depending on how much cash you have to put into it). If the appraised value is higher than the amount you need as a loan to purchase a property, then that’s a better deal. It also can mean lower payments, lower interest, and bigger savings!

When you understand terms like LTV and how if factors into your loan, you can better assess a deal and whether or not it will make you money. Keep crunching those numbers, my friends, and reach out to our loan officers if you have any questions!

Happy to do business with you;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

To read more articles click here.

Follow me on Twitter: @LeeArnoldSystem

Tax Advantages and You

- - Entrepreneurship

You just filed your taxes 2 months ago! Why are we talking about this now? I know, I know. You’d rather be focusing on making the money rather than filling in numbers on a tax document. But, if you start now, I promise you’ll be better equipped for next year. You might even find some nuggets of gold to take advantage of before it’s too late.

There are many tax benefits to investing in real estate, and if you aren’t taking advantage of them, you might be missing out. There are also mistakes that many business owners make that you should avoid.

First, let’s talk advantages:

Tax Deductions

You can write off nearly all your real estate investments and money spent acquiring them. Most importantly, you write off a down payment on a rental property and your mortgage and interest payments.

So let’s say you come to the end of the year and you own Uncle Sam $20,000. Would you like to shell out the dough, never to see it again? Or would you rather spend that $20,000 on a new property that has income potential?

No brainer, right?

In some cases, depending on your market, you can even find an entire property for $20,000. Ask us how at  800-533-1622.

Deducting Personal Expenses

When you own a small business (and to get a loan from COGO, we require you to have at least an LLC), your finances are taxed under the same friendly tax laws as other corporations. You will not pay taxes on the money you re-invest in your business, and that includes legitimate write offs like mileage, cell phone bills, and paper in your printer.

Depreciation Works in Your Favor

For your personal, owner-occupied property, you cannot claim depreciation (or “a reduction in the value of an asset with the passage of time, due in particular to wear and tear”*) on your taxes. You can, however, claim this on investment properties, though my guess is that many of you don’t. This can be a significant deduction, so make sure you have a competent accountant who has your best interest at heart and can make this happen for you.

These deductions may sound simple, but when added up, you can pay less out of pocket to the government and have more for your next project!

 

Unfortunately, there are many mistakes that rookie business owners make. Let’s tackle a few:

 

Shuffling Too Much Around so That You Don’t Owe Anything

Although this is tempting, if you can’t show that your business made any money and is valuable, you will hurt your chances of qualifying for loans in the future. “But I made money,” you say. “I just made it look like I didn’t.” Sorry, you have to show a profit if you want to leverage that value for your business’s benefit.

Not Keeping Good Documentation

Trust me when I say the wrong time to be collecting your documentation is during tax season when it’s due. That’s why I’m harping on you NOW. Collect and file your expenses throughout the year. Not only will you keep better track, but you also won’t forget vital chunks along the way.

Not Understanding Your Deductions

You can run into trouble by calculating deductions without an understanding of your limits. The fix is simple, find out which deductions and work with a professional.

Not Knowing Your Tax Laws

It’s a lot. I get it. And you’d rather be deepening your understanding of the real estate industry (or your chosen field within the industry) than wasting time digging through tax laws. But in addition to State, Federal, and Income taxes, small business can be subject to taxes you’ve never heard of. Don’t overlook these filings; work with a tax professional.

Moving Profits into Salary

After a successful year, you might be tempted to increase your “salary” to take advantage of the deductions for salary payments. However, the government WILL look at the number and compare it to other industry professionals in your field to determine if your compensation is reasonable. If you are too unrealistic, the IRS may disallow a portion of the money as compensation, landing you in hot water.

My recommendation is for you to start now, research often, and stay on top of your tax game. There are real benefits you can use to your advantage, but waiting until April of next year is NOT the time to begin considering them.

If you would like to learn more about investing in your future through real estate, visit the Lee Arnold System of Real Estate for an upcoming Funding Tour in your area, or see if you qualify to attend the Regional Real Estate Clinic in July by calling  800-533-1622.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

To read more articles click here.

Follow me on Twitter: @LeeArnoldSystem

 

*https://www.merriam-webster.com/

The Long and the Short of Short Sales

- - Borrowing, Wealth

 

This is not a new strategy. It’s been a buzz word since the recession of 2008, but many investors are beginning to shy away it thinking that it’s an outdated strategy. They’re wrong!

If you’ve ever wondered about short sales–what they are and how you can benefit from them–consider this a lesson in Short Sale 101. A short sale is nothing more than a specified bid at a foreclosure auction done months in advance. Let me explain…

There are two types of bids; full debt bids and specified bids:
1- FULL DEBT BID. The opening bid is everything the homeowner owes the bank. It is the full debt bid you pursue in the strategy of “equity deal” we discussed HERE.
           and
2- SPECIFIED BID. The opening bid is lower than what is owed, and though the bank is not guaranteed to get what is owed on the house. They know this but also do not want the house back.

Let’s say $220,000 is owed on a property that went into foreclosure. It’s worth $180,000 in its current condition, but the opening bid is $60,000. There’s a big different between $60,000 and $220,000, and a where the bank loses, the bidder could win. Now, the bank is legitimately willing to let the property go for $60,001 because there’s no guarantee that the bid will go any higher than the opening bid. Unfortunately, the problem with the specified bid is your abundance of competition.

Years ago, I saw the opportunity in this bidding structure but wanted the ability to buy at $60,000 without other bidders driving the price up so much that I made less and less profit. That’s where the short sale came in.

In most markets, a foreclosure process typically takes anywhere from 90 days to 180 days. And in judicial markets, like Florida and Georgia, the process can take 12 to 18 months before the property ever arrives at auction.

If you know a house in going through this process, you can wait until the process matures and jump in at auction time, or you can be proactive and pursue the property before anyone else.

Foreclosures typically begin 90 days before the sale and from the beginning, they have to post some type of notice. “Lis Pendens” or “Lean Pending Filing” (this is the bank suing the homeowner to regain possession of the property) or in a non-judicial market where they begin with a notice of default filing.

Whether it’s a lis pendens filing or a notice of default, this is a notification to you as an investor that this property is in trouble, and unless something changes over the next few months, the homeowner is going to lose the property. A lot of homeowners going through this process have no idea what the process is or how it affects them. This is where you swoop in as the alley to the homeowner and create a win-win situation where you can help the homeowner lose the house to foreclosure, but you can buy that property at the specified price.

Pros:
– You can help a homeowner stay in the home longer than if they home went to foreclosure.
– Often times, you can help the homeowner lower their payments through modification and increase their equity in the home.
– You can inspect the interior where at auction you can’t do that.
– It requires no rehab in the homeowner stays in the property
– You don’t need all cash.
– You don’t have the competition of other bidders.
– We can charge higher than market rent by renting back to the homeowners (not legal in all markets, so check before pursuing this strategy).
– The tenant pays all of your mortgage which = positive monthly cash flow.
– Best of all, you’ll have instant equity in the property and plenty of options if any of the cons below happened…

Cons: (You’ll see these are similar to any property you would buy and rent out)
– There is a possibility that the tenant doesn’t pay you.
– The tenants could trash the place.
– Or the tenants could abandon the property, leaving you without a renter (until you got another one).

Now, as you’ll see, this is a pretty short list compared to the list of pros. And there are other cons that you would need to consider if you pursued a bank loan or conventional financing to purchase a short sale; such as the bank requiring a BPO, or Broker price opinion, or having to wait several months while the banks call the shots on your financing, which can be frustrating! But, you can often get private money for these short sales, seeking out competitive terms and interest.

The bottom line is there are multiple ways to find a good deal. If you think finding a short sale property is right for you, do your research and go for it! We’ll be here to offer a financing option for you when you do.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

To read more articles click here.

Follow me on Twitter: @LeeArnoldSystem

How Do I Get Approved?

 

I was recently asked, “Lee, how do I know what a good, fundable deal looks like?” While I’ve spend hours reviewing the numbers to my deals and yours during my Scratch Paper Chronicles, at Lee’s Inner Circle, and during courses and specialty labs, the question is valid because every property is different.

Start with the most important question to ask on any deal: Will there be a good outcome for everyone involved?

If the deal isn’t going to make any money for those involved, it’s probably not going to be approved. But, don’t take a denied loan as defeat. Learn from it so you know what to look for next time.

 

Common reasons why deals are denied:

  1. The property value is lower than the sales price (or what the owner thought the value would be)
  2. There isn’t enough cash available to do the deal. (funds for downpayment, closing costs or rehab).
  3. The deal won’t make money. We don’t set our investors up for failure!

This is where information is key. Do your research, know what properties are truly worth, check the documentation, know your own financial situation so you’re ready to answer those questions in the loan process. Learn how to avoid pitfalls when scouting for that good deal and how to avoid deals that won’t work within our lending parameters.

 

Find out the following:

  1. Is the seller motivated?
  2. Does the seller have any equity in the property? If they don’t have any equity, we can’t structure creative financing solutions. It is important to check the title
  3. Is it an unlisted property? Your odds of getting private money funding grow when you find a property that isn’t listed with an agent (and your odds of getting it at a better price are greater because agent-listed properties appear everywhere on the internet! To read more, CLICK HERE).
  4. Is it in an established neighborhood? We are not the company looking to set the standard and create comps in unestablished marketplaces. We need established, area
  5. Is the house the ugliest house on the prettiest street.

 

If you can answer yes to these questions, get it under contract, and bring it to us to fund. To receive a rate quote by email, visit us at cogocapital.com. Or, immediately receive a $250,000 pre-approval letter for buying real estate investments by attending one of our Funding Tours.

If you’re ready to learn how to get these leads, how to convert them into opportunities, how to follow up, make offers, and get funded, join us for a Funding Tour or call  800-533-1622 to speak to someone who can help steer you toward the education you need.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

To read more articles click here.

Are You Reaching People?

In this digital age, it can be tempting to forgo any physical outreach in favor of simple, copied-and-pasted ads online. Whether you’re trying to purchase a neglected property direct from the owner, are trying to communicate with wholesalers, or want to set up connections to broker private money, you have to reach out to get and communicate with leads.

Craigslist is great, so is email. Phone numbers are fantastic, too.

But Craigslist can be over-saturated, email can go to spam, and more phone numbers than ever are on Do Not Call registries. The truth is this; it’s easy to go online, so everyone does it! That doesn’t mean it doesn’t work, but you run the risk of getting lost in they masses.

There’s another way to reach people that might feel antiquated but is quite the contrary. Snail mail.

 

According to a USPS Study…

98% of consumers bring in their mail on the day it was delivered.

77% sort through their mail immediately.

Recipients spend, on average, 30 minutes reading their mail on any occasion.

67% feel that mail is more personal than the internet.

64% order from mail received within the last month.

48% read mail to relax, 42% look at mail for financial savings, and 38% use mail to stay informed.

Online shoppers who interact with brands using multiple media spend 30% more than those using a single medium.

 

If you’re reaching out to homeowners and potential clients, invest in a packet of stamps, print up your material, and get to lickin’ those envelopes!

And if you need assistance with materials to send, we have a great tool for that. The Lee Arnold System membership site contains a plethora of back office printables that were expertly designed for making a unique impression. You can customize and save time. To learn more about becoming a member and unlocking these great tools (and more!) call us at 800-533-1622.

To Your Success;

Lee A. Arnold

CEO

The Lee Arnold System of Real Estate Investing

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To learn how to make a unique impression in person in only 8 seconds, CLICK HERE!