Flipping Your First House Part Two
On this podcast episode I talk about direct mail marketing to motivated sellers. Make sure you listen to the previous podcast (Flipping Your First House - How To Get Started) before you listen to this one, since it follows up on the previous episode.
On this podcast I drill down into the details of direct mail results and what the typical results would look like from mailing to a list of 8,000 absentee owners over a period of 8 weeks (mailing 1,000 postcards a week).
I broke down the mailing costs and showed a real example of mailing $500 a week for 4 weeks and spending $2,000 before my student got a house that he flipped for a profit of $12,000. I talk about getting out of the trading your time for a paycheck mindset and how the key to generating motivated seller leads is to be marketing. You cannot afford to skip this step - especially if you have a full time job.
I also speak about scripts, talking to motivated sellers and knowing what to say. The ultimate goal is to go on an appointment with a motivated seller and to get their house under contract. Once you have a house under contract you have a property to flip. I discuss typical response rates and how on average you will only get 2 seller appointments for every 1,000 postcards mailed. That is why you need to make sure every seller appointment counts.
Make sure before you go on a seller appointment you know:
1. the ARV and comparable sales
2. the repair estimate and how much it will cost
3. how much to offer in order to make a profit
I also offered a script for you to download which you can get when you attend my webinar on wholesaling webinar (the link is below)
If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:
FREE WHOLESALING TRAINING
FIXING AND FLIPPING TRAINING
If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar
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