While watching Home Alone during our Christmas week, the “Wet Bandits” stakeout method got me thinking about real estate and marketing.
At the time I was watching this, I was writing a big direct mail letter for a client who’s selling a multi-million dollar fully approved and entitled parcel for a large sky-rise apartment development.
Well… just like investing, business development, marketing, copywriting….
The wet bandits in the movie Home Alone…
I spend most of my time RESEARCHING.
The Wet Bandits (later called Sticky Bandits in Home Alone 2), would stake out a neighbor for weeks.
They would pose as repairmen, police officers… they would go knock on doors, find out exactly when people left, and even when the Christmas lights turned.
They were brain-dead when it came to chasing a boy and raiding a house… but they were brilliant in the research department.
And research could not be said enough for investors.
LACK of research is why I lost a few thousand dollars on one of my first mobile home flips and undervalued my mobile home by over $15,000!
The Lack of research is why I bought a parcel that no one wanted and took more than half a year to sell as opposed to half a month to 4 months at the most.
Research is a key component to figuring out WHAT you want to do with REI, where you want to park your money…. and WHERE and HOW you want to market to your potential sources of deals.
When writing letters like this one (it’s a 20-page letter being sent to national developers) I spend weeks researching; gathering all the data and facts about the property, the location, and the buyer. I make a few phone calls to dig into the mind of these investors, I let the data boil in my head while the Big Idea/Hook pops up out of nowhere while I’m sleeping, or making the bed, or cooking.
It’s not magic… it’s just that I fill my head with all the information about the property and location as much as I can find… so that I know the “product” better than the client.
What’s this have to do with real estate investing?
Young hustling wholesalers and flippers want to pull triggers before they know a thing about the property, the neighborhood, their buyer, or their seller (or their own business goals)
They don’t dig deep into motivated sellers’ situations…
They don’t know a lick about what their buyers/tenants want (if they’re wholesalers, or if they are selling retail or putting tenants in place)…
They don’t know enough about prices in that area (the interview with Peter Apostolos reveals how learning appraising was the stepping stone into being a savvy investor for him)…
You need to spend more time “researching”.
I get it… you need to give that cash offer to the seller ASAP, no time to research… and that I understand. But as you go through those motions take time to learn your market (and your seller by asking questions at the door) so that you CAN make quicker decisions than others.
But how do you know which medium to reach out to your sellers with?
How do you research that?
How do you figure out the marketing side of this business?
Enter my Deal Magnet News membership.
You may find the answers in:
– the exclusive interviews with pros revealing what THEY Are doing for deal generation
– the Audios of me unraveling direct response marketing and copywriting lessons applied to REI and finding deals
– My newly published audio on how a list of Addresses aren’t “leads”…. and having this mentality instead guarantees you don’t quit too early
– my exclusive newsletters where I reveal a successful sales process that I used in land, mobile homes, and now selling clients…. that guarantees it axes any “NEEDNIESS”
– My newly published video on how I PLANNED my big goal of quitting my w-2 job in 2021
p.s. I just published my new book “Deal Attractors – Copywriting Secrets for Real Estate Investors to Win Motivated Seller Leads in Crowded Markets”.
My loyal Deal Magnet subscribers got the PDF for free…. otherwise, you can find it on Amazon and pay for the hard copy.
p.s.s. if you’re interested in all the bonuses that come with it, the free PDF, and all the unique material to help you dominate your marketing in teh “marketing department”… then step in into the Deal Magnet News membership here:
“Keep moving forward in your REI venture”
Paul do Campo
I’ve spent many hours learning and implementing marketing methods in REI, chasing sellers, and building cash flow streams… and I show you what works and what doesn’t from real-world investors in the trenches today through my daily tips, articles, and audio interviews at realestateaudios. com
Call or text me at: 951-901-8208
6939 Schaefer ave Ste D #254
Chino California 91710
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