Make More Real Estate Deals by Throwing Out "Conventional" Thinking

Issue #2330

• WEALTHY: Throw out "conventional" investor thinking to make more deals (Dean Graziosi)
• HEALTHY: 3 supplements to help you get some shuteye (Dr. Ray Sahelian)
• WISE: Norman Vincent Peale on being a "possibilitarian"

ALSO IN THIS ISSUE:

• Is there a disconnect between your offer and reality? (Charlie Byrne)
• Are you losing subscribers just because you’re afraid? (David Cross)
• It’s Fun to Know… about fingerprints
• Add "ambit" to your vocabulary

== Highly Recommended ==

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"Become a possibilitarian. No matter how dark things seem to be or actually are, raise your sights and see possibilities – always see them for they’re always there."

Norman Vincent Peale

Using Automated Marketing to Profit in Today’s Real Estate Market

By Dean Graziosi

If you spend five minutes driving down any residential street, chances are you’ll pass several homes in foreclosure. It’s no secret that foreclosures are everywhere, and there’s no shortage of information about how to buy them. You may be aware that there are some great deals on "pre-foreclosures" – homes still in the process of being foreclosed. But you probably don’t realize how time intensive finding and purchasing the right deal can be – especially if you’ve never done this type of investing in the past.

You’ve probably read some excellent ideas in ETR on how to stand out from the crowd of investors competing for the same properties, as well as some nifty little tricks on how to mail letters of interest to sellers that will get opened and read.

I’ve been investing in real estate for 20 years, and I’ve been able to make millions using many of those strategies to find potential deals. I’ve also used time-tested techniques borrowed from direct marketing. However, when I saw the current down market coming, I knew I had to figure out a new way to sift, sort, and screen through the imminent flood of thousands of foreclosures.

What I decided to do was throw out conventional "investor" thinking and take a strict marketing approach. In other words, if I were trying to market a product to a targeted group of people, how would I do it – and how could I automate it?

What I came up with was a method of attracting pre-foreclosures that has revolutionized the way investors can find and profit from them. I call it the Automated Foreclosure Finder.

It completely reverses what every other investor is doing. Instead of making "cold" contacts with people in foreclosure, you use my finder strategies – and then sit back and let them contact you before they go into foreclosure.

This not only gives you a jump on investors who rely on public records or paid listing services, it also eliminates the grunt work. It sifts, sorts, and screens out the bad deals, so you wind up spending your time only on the best deals… deals that are delivered to you automatically.

Here’s how it works.

Finder Strategies

I use direct-response marketing methods to create "finder strategies" – ads that drive qualified prospects to me. I use classifieds, business cards, flyers, mailers, yard signs, and even Google AdWords.

Like all good direct-response advertising, these finder ads:

1. Have a compelling headline to capture my prospects’ attention
2. Make a big promise to create interest.
3. Ignite a desire to find out more.
4. Tell my prospects exactly what action to take

The key to making these ads work is to make sure they offer helpful information to people facing foreclosure. People facing foreclosure experience a wide range of emotions. They can be angry, afraid, depressed – even ashamed. Most of them will be looking for ways to stop the foreclosure and save their homes. They want a solution to their problem… and they want it fast. The only thing they’re interested in is ending their pain. The finder ad should do that for them.

Remove Psychological Barriers

To automate the prospect-finding process, all of my finder ads direct prospects to a 24-hour information line. This is a technique that smart marketers have used for years. Your finder ad should clearly state that they are calling a free recorded information line. This makes calling a non-threatening action for the prospect to take. They know they don’t have to talk to anyone when they call. They don’t have to be afraid of being "pressured" into anything. It’s risk-free, so anyone who is even slightly interested will make the call.

The message they hear when they call, again, follows tried-and-true direct-response guidelines. My message, written by a professional copywriter, is empathetic to their situation. It gives my callers seven options they can take to stop their foreclosure. It also gives them specific actions to take, depending on where they are in the foreclosure process. Then it qualifies those prospects for me.

After presenting all the options for preventing a foreclosure, I offer them one more. The option that if none of the solutions I have suggested work for them, "I may be able to buy your property" and prevent the foreclosure. Then my message states the questions I need answered before I can consider purchasing their home. Questions like:

• How much is owed on your mortgage, and how many missed or overdue payments are there?
• What is the location of your home – as well as its age, square footage, and the number of bedrooms?
• What is the condition of the home?
• Do you have an appraisal for the home?
• Has a "Notice for a Sheriff’s Sale " been sent?
• Has the bank sent a list of additional expenses owed to them for the foreclosure process?

The first thing this message does is give them an understanding of the reality of their situation. The second and most important thing it does is help gain their trust. It also helps to screen out the deals that would not work, or that I don’t want, and leaves me with the best of the best to choose from and pursue. I would rather talk to 20 qualified prospects than 100 prospects I have no insight into.

Position Yourself as an Advocate

Although the finder ad is designed to attract people long before they show up on any foreclosure lists, some of the people who respond to you will have had some kind of run-in with another investor. That investor may have left a bad impression – the impression of being solely interested in taking the property for profit. That’s why it’s important to position yourself as an advocate, not as an "opportunistic" investor, in your finder ads and recorded message.

By providing your prospect with a number of potential, step-by-step solutions for them to stop their foreclosure – and only briefly mentioning the possibility that you might be able to buy their home – you are 99 percent more likely to be perceived as being on their side.

Putting It All Together

A sample finder strategy used in a classified ad might look like this:

Free Foreclosure Help
Learn What to Do If You Are at Risk
FREE RECORDED MESSAGE
Call anytime, 24 hours a day, xxx-xxx-xxxx

An ad like this drives people to your recorded message. The recorded message educates them, screens them, and provides a way for them to contact you or request you to contact them. The ones you ultimately do contact are highly qualified. You can get as specific as you want with your message. The beauty of it is that this method will sift, sort, and screen the best possible deals for you, every day, 24 hours a day, seven days a week.

Don’t Forget the Internet

Another thing I do is drive prospects to a website that contains the same helpful info as my recorded message. From the website, I can capture their e-mail addresses. Then I send them a series of automated messages that drip out professionally written e-mails that repeat the helpful information and also remind them that I am here to help.

This method saves so many wasted hours that, in itself, that would be enough for any investor to be excited about it. But the fact that it drives deals to your door before other investors can even get wind of them makes it unique… and highly profitable.

[Ed Note: Dean Graziosi is a real estate investing expert, teacher, and author who began investing at 18. His first best-seller, Totally Fulfilled, explains his unique "core" approach to optimal results, success, and fulfillment in all areas of life. His second book, Be a Real Estate Millionaire, has already appeared on best-seller lists of The New York Times, The Wall Street Journal, Amazon.com, and USA Today. For an ETR-reader-only special on this book, go here.

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== Highly Recommended ==

The Only Three Ways to Grow a Business

Did you know that there are only three ways to grow a business?

1. Increase the number of customers.
2. Increase the average transaction value.
3. Increase the frequency of repurchase.

Find a way to maximize each one, and your business will experience an astonishing rate of growth.

In his "9 Pillars of Business Growth" program, acclaimed consultant Jay Abraham outlines hundreds of proven, frequently unrecognized, and almost totally underutilized ways to grow these three key areas of your business. If you own a business (or would like to), be sure to take a look at Jay's program.

- Charlie Byrne

Don't Trick Your Prospects: A Marketing Lesson From the Movies

By Charlie Byrne

The purpose of a great headline is to get your readers' attention. And the purpose of the remainder of your sales letter is to get your readers to buy your product or service.

But if there is a disconnect between what the copy promises and what the product delivers, you're going to have dissatisfied customers who feel betrayed.

Result: You end up spinning your business's wheels, trying to constantly replenish your customer base. You're losing them out the side door as fast as you're bringing them in the front.

I recently read an interesting article in The New York Times about something similar that happens in the movie business. David Pogue wrote about how excited he was when he saw a trailer for the film National Treasure... but very disappointed when he saw the film and it bore little resemblance to the trailer.

Shortly after saying something to that effect in the paper, Pogue received a surprisingly candid note from the film's director, Jon Turteltaub.

Turteltaub explained that the trailers are often put together LONG before the movie's final edits. In fact, they're sometimes finalized when filming is barely half complete. That means there's a good chance for the more-than-occasional disconnect.

But that's only the unintended consequence. Turteltaub hinted that sometimes darker forces are at work.

"For me," said Turteltaub, "the biggest problem that comes up is when the trailers and TV spots don't reflect the essence of the movie they are selling. You see that a LOT. The studio often feels that the movie they made isn't a movie they can sell... so they sell it as a different movie. That can help fill seats on opening weekend, but it usually backfires. Personally, I think that's what happened with Sweeney Todd. Perhaps they didn't want anyone to know it was bloody, gory, and a musical. So they hid that. What happens is that the wrong audience sees the movie on opening weekend, and the word of mouth is all wrong. Great movies can get lost because of this."

Here's the lesson: If you find out late that your product isn't going to appeal to your market, don't be tempted to just put a new spin on the advertising. You've got to do the hard work of making the product fulfill your prospect's needs, as you promised in your promotion.

[Ed Note: Charlie Byrne is ETR's Associate Publisher. Sign up for e-mail delivery of his blog and get edgy and useful ideas on copywriting, marketing, and other category-defying topics.]

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Make Mine a Single

By David Cross 

My friend Brian forwarded me an article espousing the benefits of "double opt-in" versus "single opt-in" for people signing up for e-mail newsletters. Single opt-in requires them to sign up. Double opt-in adds an extra step. Your subscriber must sign up. Then she must click a link in an e-mail you send her before you send her what she requested. 

The article suggested that double opt-in is a better method because it cuts back on the people who "forget" they signed up for your e-letter… and then report you as spam. I think the article missed the point. Spam is about perception. Period. For one thing, only a miniscule fraction of people signing up to receive e-mail ever complain of "spam." For another, people who double opt-in still complain of spam if you look like spam. There is a small advantage with Internet service providers if your e-list is wholly double opt-in. But in my experience, the negatives of double opt-in outweigh the advantages in the long term. 

In my tests with different lists – some with hundreds of subscribers, others with hundreds of thousands of subscribers – and sign-up methods over the years, doing double opt-in suppresses overall sign-up response. You end up with fewer names on your e-list. In some cases, I’ve seen double opt-in suppress response by as much as 34 percent.

You see, most people don’t expect to confirm that they’ve already signed up for something. Let’s say you have a double opt-in for your e-newsletter. One hundred people sign up on your website. And you send all of them your double opt-in e-mail, which they must click on in order to get your e-newsletter. Twenty to 34 of the people who signed up for your e-newsletter won’t click on the additional confirmation link. Bam! You’re out those subscribers. See why I’m such a big fan of the single opt-in?

If you’re still not convinced, test the middle ground. Start half of your new subscribers immediately, and place a small note at the top of each e-mail asking them to confirm their subscription. Leave the link there until they confirm their subscription, and then remove the "conditional" link. This gives you the benefit of double opt-in without losing people along the way simply because they failed to confirm a link at the start. 

[Ed. Note: David Cross is Senior Internet Consultant to Agora Inc. in Baltimore. You can profit from all the benefits of starting an online business with ETR's Magic Button program. Get the details here.]

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Reader Feedback: "It’s about time!"

"Thumbs up on the new and improved ETR Archives section that has the articles sorted by category or topic. It’s about time! I like to be able to quickly find the health and exercise articles, as well as the marketing and copywriting articles. And it’s nice to be able to print out and read individual articles at a later time rather than having to print out the entire daily publication. Saves paper and time. Thanks."

-Brian Anderson

Lenexa, KS

[Ed. Note: Want to get your name and opinions published in ETR? Let us know how reading ETR has helped you - maybe even changed your life. Send your comments to ReaderFeedback@gmail.com. Include your name and hometown... and we may print your e-mail in a future issue.]

Alternative Medicine for Sleep, Part 1

By Dr. Ray Sahelian, MD

Natural supplements can help protect you from a wide range of health issues. But keep in mind that high doses of some herbs and supplements can make you feel alert at bedtime and cause shallow sleep. Fortunately, there are other supplements that will help you get your well-needed shuteye.

Which herbs and nutrients are effective for sleep? Below are three of the most commonly used supplements.

• 5-HTP or 5-hydroxytryptophan: This nutrient converts into serotonin, which is involved in relaxation. At night, serotonin is converted in the pineal gland to melatonin, the sleep hormone. 5-HTP is not consistent in its sleep effects, but sometimes a smaller amount than the usual 50 mg capsule can be effective. Take it on an empty stomach about an hour or two before bedtime. The capsule is easy to open, so you can use half or two-thirds of the contents. Larger amounts can cause nightmares.
• Melatonin: A sleep hormone made by the pineal gland at night, melatonin is perhaps the most consistently effective natural supplement for sleep. However, at least a third of people who try it may not find it helpful. The dosage varies between a quarter of a milligram to 3 mg. Higher dosages can cause nightmares and morning grogginess. I suggest using a third or half of a mg at first, taken one to three hours before bedtime on an empty stomach. The sustained release form is a good option.
• Tryptophan: This amino acid converts into 5-HTP, which then converts into serotonin and then into melatonin. Try taking 500 mg one to three hours before bedtime on an empty stomach. At least half of users notice a good sleep-inducing effect from tryptophan.

So which of these three supplements is best? It’s a matter of personal preference. It is difficult to predict which one will be best for you until you try them all. Even then, use your supplement of choice at most three nights a week. Tolerance and dependence may develop if used nightly. And please note that dosage and timing can vary significantly among different people.

[Ed. Note: Ray Sahelian, MD, the author of Mind Boosters, is internationally recognized as a moderate voice in the evaluation of natural supplements. Visit Dr. Sahelian's website at www.RaySahelian.com, and read more of his articles about the supplements you should and shouldn't be taking at ETR's free natural health e-letter.]

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It’s Fun to Know: Fingerprints

A fetus’s fingerprints form by the end of the third month of the mother’s pregnancy. The unique patterns of the ridges that make up a fingerprint remain the same throughout life.

(Source: That’s a Fact, Jack!)

== Highly Recommended ==

You CAN learn to become wealthy!

Success is not encoded in an individual’s DNA and does not transfer from father to son or mother to daughter. It is a process – and learning the process is a major KEY to setting up for success.

Today I’d like to offer you two complimentary reports to help you get started: “How To Get What You Need To Succeed In Life" and "Simple Guidelines for Creating Abundance In Your Life."

There will be many steps you take towards your goals where it will feel like you’re taking two steps forward and one step back. You will have breakthroughs, triumphs, and opportunities to overcome adversity.

But to keep moving forward, you just might need a friendly kick-in-the-pants every once in a while. Here’s how to stay energized towards action and success every day of the year.

- Charlie Byrne

Word to the Wise: Ambit

"Ambit" (AM-bit) – from the Latin for "to go around" – is an area in which something acts, operates, or has power or control.

Example (as used by David Papineau in The New York Times): "There was little to suggest [Karl Popper's] future eminence until he came within the ambit of the Vienna Circle, the renowned group of philosopher-scientists whose mission was to replace traditional metaphysics with the clean worldview of modern science."

Copyright ETR, LLC, 2008

Similar Articles:

• Using Automated Marketing to Profit in Today’s Real Estate Market
• Make Mine a Single
• The “Sticky Business” Factor
• 3 Simple Techniques for Building Your Real Estate Portfolio With Foreclosure Investing
• Why Current Market Conditions Shouldn’t Stop You From Buying Real Estate