Conner Marketing October 2018

NOTES with Jay Conner Success


Lessons Learned on Bridle Lane

T his month, I would like to share with you a story about a deal I closed just four days before writing this article. Keep in mind that this is an example of my average deal. I close around three deals a month, with about $60,000 of profit each — double the national average. But this particular deal, which took place on Bridle Lane, is an excellent example of how I make successful transactions possible through negotiation, maintaining a strong team, and pursuing the right deals in the first place. I do a lot of marketing to local sellers. For example, I use direct mail, my foreclosure system, and Facebook marketing. But I’ve found the best leads come frommotivated sellers who find us organically through an internet search. What’s really nice about organic searches is that this method brings me better-qualified leads. When someone sees my ad on Facebook, they probably aren’t looking to sell their house right that second. But with my website and Google AdWords, my message goes directly to people who are looking for it online. In this Bridle Lane deal, the seller typed the address of their property into the Google search bar, along with the keywords “buy my house fast.” Because the property’s address is in my target market, my website popped up as the first result. As a side note, I use two different websites — one for buyers and one for sellers. These are two completely different markets and they need two completely different messages. I always recommend avoiding combining buying and selling websites into one website. You can check out the website I use to locate motivated sellers like the one on Bridle Lane at . Organic Marketing

• The house was only halfway rehabbed, and the owners didn’t want to come up with the money to finish the project.

• The owners would not list the house with a Realtor in its current condition. The house was uninhabitable, which meant a traditional bank or mortgage company wasn’t going to lend money for this house. All these factors meant this seller could not go through traditional ways of selling their house. They needed a more efficient opportunity for their situation. Fortunately, with private money, I could offer this seller the solution they were looking for: a fast, clean closing.

Simple Step-by-Step Process

From locating to closing the deal:

1. After finding my website, the seller fills out the property information, including their email, phone number, and the address of the house they want to sell. When they click submit, this information is emailed to me and my acquisitionist. 2. My acquisitionist is the first person the sellers talk to. She fills out a property lead sheet with the details I need to determine whether this is a deal worth pursuing, including whether or not the house is vacant, whether there’s a mortgage on the house, and what kind of repairs are needed. She also negotiates price with the seller, bringing me the lowest price they are willing to close on. 3. After my acquisitionist and I discuss the prospective deal, my Realtor calculates the comparative market analysis (CMA), while my contractor prepares a budget sheet for what all the repairs on the property will cost. 4. If the “Spread” — the difference between the after repaired value (ARV) and the purchase —makes sense, then my acquisitionist sends my contractor to the property to estimate repairs.

What Makes a Motivated Seller?

This seller had four motivating factors that encouraged them to sell — and sell quickly.

• They were out-of-state owners living in Ohio.

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• The house was vacant, meaning it was a non-performing asset.

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