Nov 29, 2021
We are going to talk today about how to monetize your dead leads. That’s a topic that hairdressers, electricians, OR real estate marketers would love.
We send a lot of mail and make a lot of calls every week, trying to turn up properties to buy. Despite our best efforts, hundreds of warm leads don’t result in actual purchases. Until now we would just move along, but as of today, we know we can still monetize those leads.
Chris Craddock is a real estate investor and innovative marketer. He’s a nationally certified Life Coach in Leadership and one of the top Real Estate professionals in the world closing 30-65 deals a month. He’s also the host of the Uncommon Real Estate Podcast, a realtor, and entrepreneur who runs multiple successful businesses in the Washington DC Metro area (and Richmond, VA). Chris and his companies consistently bring in close to 10 Million in revenue year after year. His team, The Redux Group, sold just over $160 Million in volume in 2020.
Chris has been married for 21 years and is the proud father to six beautiful children.
How to contact us
www.RogerBlankenship.com. Leave a voicemail right from the home page!
Facebook.com/flippingamericamedia
Twitter and Instagram @FlippingAmerica
Call our National Comment Line: 877-55-ROGER (877-557-6437) ext 1. Leave your message or your question.
Sponsors
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Announcements:
- FlipStarter November 2021 is sold out. But we’ve already scheduled it again for January.
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- Learn how to Find, Fund, Fix and Flip houses
- Four weeks of video instruction (2 hour sessions)
- Four weeks of group coaching
- You’ll get my book, “Fantastic Deals and Where to Find Them”, the exact procedure I used to get 10,000 deals per week in my inbox.
- You’ll get my book, “How to Put Skin in the Game When You Are Running Out of Skin”, my little book on how to do deals - even big rehabs - with none of your own money.
- You’ll get my book, “Stop Being Poor” which describes the poverty mindset and suggests a way out.
- Includes online courses, ($800 value)
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- REI QuickStart - 15 lessons to have you making offers in 2 weeks.
- REI By the Numbers - All of the formulas I use for deal analysis, project tracking, and ROI calculations.
- Find Your Fit in REI
- Create the Life of Your Dreams
- Purchase and Sale Agreements for your offers
- Contractor Docs, my package of eleven documents that describe policy and procedures for working with contractors, including the actual Construction Agreement I use. I paid a lawyer thousands to create this bullet-proof agreement and I’ll include it.
- How to manage the rehab process
- How to make $5000 in the next 30 days
- “Double Your Investment” guarantee. Although it’s a 30 day program, you stay on the coaching calls until you have at least doubled your investment in this training.
- Money back guarantee. If at any time you believe this isn’t the thing for you, notify us and you can drop out and get a refund for remaining sessions
- Your investment: $997.67. Or pay three installments of $350.
- Early Bird Discount: Register before December 1st and save $200.
- 100,000 people want this - we only have 100 seats.
News and Resources:
- You can buy a home that needs repairs. There is an FHA loan for that. The 203k. https://www.hud.gov/program_offices/housing/sfh/203k/203k--df
- How to Revive Dead Leads to Increase Business Growth https://aktify.com/blog/how-to-revive-dead-leads-to-increase-business-growth
- 5 Effective Tips to Revive Seemingly Dead Sales Leads https://www.prizmmedia.com/revive-dead-leads/
Mindset Moment:
Questions from Listeners:
- Roy, Baltimore, MD, “My partner and I have been offered six row houses - the entire block for $5,000. They are all vacant and need a lot of work, and I know there are a lot of vacant homes around. But if we controlled the entire block, it seems like we shouldn’t pass it up. Our plan would be to fix them and rent them out until the neighborhood comes back, then sell. Your thoughts?”
- Gary, Harrisburg, PA, “I was driving to Philly the other day and was surfing radio stations until I came across your show. Interesting stuff. I’ve been thinking about buying some rentals for side income. Can you give me some pointers on how to find something good in Harrisburg?
- Jackie, Villages of Ocala, “My husband and I own 25 rental properties back in Michigan where we are from. We are thinking of selling them and using the money to buy similar inventory here in Florida. There’s no income tax here and we think we would do better. But although we live here now, we are new here and not that familiar with property in Florida. It’s hard to give up something that works for something that might work a little better. We’d like you to weigh in.”
- Lupe, Boulder, CO, “I heard you mention that you love working with Realtors. Please explain why. It seems like they get paid a lot for doing nothing. I mean, it’s not that hard to list a property.”
- Bernita, Macon, GA, “Is there any way to tell whether or not you need a new roof without getting up on it? I don’t want to climb on a roof.”
- Michelle, Las Vegas. I have an opportunity to buy a house that needs serious updating. I plan to move in and make repairs as I go. Can you recommend a hard money lender out here in Vegas? The house is selling for $265,000, but it would be worth nearly $600,000 when I get all the work done. It will take about $120k to do everything I want to do, but I also plan to live here several years. I make good money and could qualify for a loan up to about 400,000, but the lender I spoke with won’t loan money to make the repairs.
My answer: Dodd-Frank prohibits HM lenders. Conforming lenders are limited when repairs are needed. FHA requires finished floors, for example.
FHA 203k Loan
Go conventional, make repairs as you can with cash.
OR get a HELOC and make repairs.
- Clay, Atlanta, I sold a business and have some cash. A local investor wants me to partner with him by putting up some cash for a downpayment on one of the properties he wants to buy. He’s done a few hundred flips and I’ve known him awhile. I trust him but I still want to make sure I’m protected. What should I do?