FLIPPING 101! What is the most basic thing you are NOT doing to generate new leads?
OK so, you have acquired your first investment property, now what? Once you have secured your financing, identified your property, and closed on the home what do you do next… “DEMO DAY!” you say, but wait. What are you forgetting? How about something as simple as a sign in the yard…? “WE BUY HOUSES CA$H” signs are a must have in the front of EVERY house you own. So, the question remains, why don’t we ALL do it? The answer could be that we get so busy with all the other seemingly millions of things that we need to do we forget something so simple as to add a sign in the yard. Over the years we have acquired countless properties based on our presence, the way we aid in gentrification of neighborhoods, AND make ourselves available to new clients. You see we must make ourselves available in order to receive new client sellers in the way of neighbors and those just driving by.
Once engaged in a single flip a small company can have a VERY difficult time continuing to fill the flip funnel while they are heavily engaged with the operations and day to day management of the actual rehab.
One way to alleviate the ebbs and flows of the acquisition cycle and even out its peaks and valleys is to never be so busy that you lose sight of your next acquisitions. Never lose sight of the next target. We do this with continuation of marketing regardless of whether or we have massive amounts of projects.
One of the vary easiest ways to stay out of the sales/ flip game cycle is a methodical continued marketing plan. And one of the most inexpensive ways (1) is the bandit sign in the front yard. This will act as a conduit between you and your new neighbors and let the know that yes, I am interested in purchasing your properties and a willing to have the conversation. The other thing we will always (2) do is make ourselves available to the neighbors as they have any questions or are simply walking by. At the end of the day your neighbors know more about the house and Neighborhood than you do. Ge to know the make them your neighbor, build a relationship, you never know how they may be able to serve you.