Normally, new deal-seeking investors cause the best brokers to run the other way… Brokers with experience don’t want to deal with people who probably can’t close. So, if that’s what happens in normal markets, what is a new investor to do right now, when the market is hotter than it’s ever been in history?
Ignore them altogether.
Paying hundreds or thousands for lists of owners – of totally dubious quality, then paying thousands to mail those owners. Then running on the hamster wheel of owner lists, paying thousands to mail the owners, and getting more lists… Because doing one mailing is pointless.
Even the best mailing campaigns can quickly run into the thousands of dollars with nothing to show for it!
As an owner, I get so many of these letters! Did you think that you’re the only one sending them out, or the only one buying that list…?
You know where those letters always go? The round file.
You could try “driving for dollars,” but with larger properties protected by several layers of LLCs, good luck getting the owners’ information. Even if you get their information, avoiding the round file is a trick in and of itself… The long and short of the mailing wheelhouse is this:
It’s a complete waste of time for most people.
“So, what actually works then?” you ask. “I can’t keep putting out thousands for no show!” you say, wildly gesturing to your mailing campaign expenditures.
Take a breath and get ready for the truth: What works is getting deals from brokers. Especially the good ones who have the best deals.
Good brokers know all the owners personally, and can find off-market deals for you. They can even create quality or off-market deals for you.
When I sold my portfolio, it was off-market. Why? Because a broker I knew and trusted reached out to me on behalf of a client, making me an offer I couldn’t refuse.
Do you want off the mailing hamster wheel? Do you want to progress in your investments and make serious profit? Then ignore what the gurus say about mailing and performing circus tricks for dollars!
Bottom line is, if you want the best deals with maximum profit, then you must work with brokers.
“But Johnathan! How do I get with a broker since I’m a newbie? One look at me and they turn the other way!”
If you are one of those newbies who can really close, as I was, what do you do? How do you convince a broker that you are the real deal?
IF you can convince them you’re the real deal, you will…
- Get good deals from day 1
- Not be asked for proofs of legitimacy
- Form a good rapport and establish an honest reputation among brokers
Most new investors do the dumb thing – they find a broker and reach out cold. Generally, cold messages are ignored. Sometimes the broker will give them a bad deal, hoping that they bite and make the broker a commission he wasn’t expecting to get.
I’m positive you want to do better, so here’s your first tip: you should NEVER reach out to a broker cold.
In fact, there are five steps you must take before you ever call or email a good broker. If you take these five steps, you WILL
- Get taken seriously
- Get amazing deals right away
These five steps are so simple and inexpensive! Once you learn them you will slap yourself in the forehead for not thinking of them on your own. They are not obvious, which is why most newbies never figure them out, never get deals, and quit in frustration.
You better be ready to close; you WILL see good deals if you use this method. However! If you burn the brokers, you will never get a second chance with them.
This methodology is laid out in detail in my Multifamily Launchpad program, which is re-opening to new members after the summer holidays are over. Once the distractions of summer vacation are out of your hair, you’ll have time to think about the legacy you will leave your children… Multifamily Launchpad will be open and ready for you to take action.
Sign up here when you’re ready to get on that waitlist (and receive that discount price!) so we can get to work! www.mflwaitlist.com
Get GREAT Deals in the Toughest Market Ever!
by Jonathan Twombly
Last Updated: July 19, 2019