It's takes the same amount of time and money to find cheap deals, as it does to find expensive deals.
When I say, "cheap," I'm talking about "low-profit.'
When I say, "expensive," I'm talking about "high-profit."
If we can make $25,000 on one deal, in the same amount of time it takes to make $5,000 on one deal, why in the world would we be spending time working on $5,000 deals...?
One of my students told me that he was working low-end deals, and spending a lot of time and money on marketing (in the old days).
He could find a $5,000 deal every month, but after paying all his marketing and business costs (and taxes), he would only 'take home' about $1,500.
At this rate, he would need at least five deals a month to replace his current income.
Well, scaling up a business, five times it's current size, IS a HARD slog, especially if you don't have...
A large nest egg to begin with...
A lot left over to plow back into the business...
And a job to back you up...
Meantime, scaling up five times, not only requires an increase in marketing and time spent, but requires five times the delegation, if not organization skills...
Worse... maintaining that level of production, month-in and month-out...
ignores market fluctuations...
ignores the ebb and flow of the competition...
ignores our energy levels...
That's why I don't mess with $5,000 deals.
It requires too many of them to make things work...
I'll leave those for my competition.
Meantime, I want one deal to push off five times that ...or $25,000.
How's that done, you ask?
You can find out by subscribing to "Screw The Bank!"
Your Sub2 Coach, Jay (and Wolfie, the Sub2 Chihuahua)
P.S. You can imagine how fast I could scale my business, once I started focing on bigger deals in the first place...
Tuesday, May 21, 2013
Posted by Jay Palmquist at Tuesday, May 21, 2013
Tuesday, May 14, 2013
"Jay, is there a way to eliminate "trash calls" on my bandit signs?"Getting Your Phone To Ring With Motivated Sellers The Easy Way
So, we don't want to sift prospects after they call on the phone. I get that.
The problem is, when our advertising isn't targeted enough ...we get calls from time wasters, and competitors, and looky-lous.
Part of the solution is to highly target our ad copy.
For example, we separate the hot prospects from the warm ones with a choice on how to get a hold of us ...and when.
Most folks are doing this wrong.
For instance, bandit signs that say "I Buy Houses," have about the most generic, unfocused, ad copy possible.
There's a place for these, I'm sure, but it screens out nobody.
As an aside ...it offers no obvious benefit to the prospects.
So what, "I buy houses?" And..?
Ad copy needs to show/offer/demonstrate explicit benefits. Why?
Because we're always dealing with A.D.D. victims.
So, if we don't want to screen out the idly curious, trash calls, crank calls, competing investors, other bird dogs, and looky-lous, then we just use the "I Buy Houses" ad copy.
On the other hand, if we're ready to target a niche of prospects that needs to do 'something' today, we use ad copy that reads something like, "Sell Your House Today."
Meantime, the key word phrase here is "Selling Today."
This offers a more obvious benefit to a seller who needs out, than making a statement that we buy houses.
Even more specifically, we can give options on how to contact us, depending on what situation(s) the prospect is experiencing.
For example for those that are ready to do a deal today, we invite them to call us directly. For those that 'want more information' we send to a web page. For all others we send them to phone-tree hell. Just kidding!
Meantime, no ad copy will guarantee to weed out all the trash calls, of course, but using qualifying ad copy is still better than using a generic headline.
If we wanted to really sift the prospects, we could include more qualifiers.
Before I give you an example of that, think about all the negative qualifiers that drug advertisers include in their TV ads.
Most would think these negative qualifiers would turn off would-be buyers to their medications. For example we'll hear...
Beware that "Vagirash® " can cause...
After hearing all these negative, if not fatal, side effects, people still demand their doctors prescribe this crap to them.
What's happened here?
The advertisers know that sifting out the prospects that would get hung up over these downsides, won't call and waste their time.
The rest are so hung up on the benefits being promised that they're willing to accept the risk that their sex lives will resemble a limp piece of spaghetti; that they're likely to begin drooling out the left side of their mouths from a stroke; and will develop blinding headaches where suicide is a welcome relief.
Meantime, they trust Vagirash will get rid of their infection ...and that their dating life will improve, as a result. Yay!
OK, here's a sample of more qualifying on RE signs:
Sell Your House Today
Want Out..? Need Cash...?
Call Jay Now For Cash At
We could add more qualifiers, if we wanted to. This goes against the grain of most marketers, but we could add,
"If You're Not Ready To
Sell Today, Don't Call Us.
We're Only Taking Calls From
People Who Want To Sell Today."
I have seen this. This sifts out the option weighers, and puts us in control of our negotiations.
Anyone who calls, had better want to sell today, huh?
Well, all this was an answer to a question I received about how to screen time wasters using the OLD ways of finding motivated sellers.
This is the time-consuming method of scaring up prospects.
The great news for you is that I offer a much more elegant, efficient, and time-saving way to get your phone ringing with motivated, anxious, sellers ...that are ready to rock and roll today ...without depending on bandit signs.
However, if you prefer pounding in signs, and driving around picking them up, and writing them over and over again... my system is NOT for you.
But if you want the most pre-sifted, anxious, exhausted, and motivated sellers making your phone ring, just click the link below.
Your Sub2 Coach, Jay (and Wolfie, the Sub2 Chihuahua)
P.S. If you have a 'bandit sign' success story that I can use in one of my posts, email me with your phone number and email address, with "bandit sign story" in the headline, and I will give you a $100 discount on my advanced training. Be prepared to provide your photo and a picture of the actual bandit sign you've used, that I can post.
Posted by Jay Palmquist at Tuesday, May 14, 2013