It is no surprise that one of the first investing building-blocks I teach a newer mobile home investor is marketing and lead generation. The premise is simple...
- To dominate your local area.
- Network with every other investor and other key players.
- Form mass alliances.
Since you only have 1,440 minutes in every day you must learn how to start duplicating your time.
You are powerful!
Still, you only have a limited amount of free-time for marketing and available-cash to begin investing with. This is especially true while first starting out. Every virgin mobile home investor is pushing themselves on shear will-power, daily dedication, and faith alone.
If you have yet to complete your first mobile home cash-flow deal then you know exactly what I'm referring to. I can tell you, "Everyone that is successful has been here before you. Continue to persevere and focus ahead." It is for this reason I want you to get as much help as possible and continue ahead with every realistic and legal advantage.
I call this strategy for creating awesome win-win relationships the Reverse Bandit Signs strategy.
- Q: Who is hanging local "We Buy Houses" or "Sell Your House in 7 Days" signs in your town? (If applicable)
- A: Other local investors who spend money and time on advertising to find motivated real estate sellers.
- Q: How can I benefit while adding value to these other investors too?
- A: Next time you see a bandit sign call up this investor and introduce yourself. Be direct and be friendly. Here is my personal script below,
"Hello. My name is John Fedro who am I speaking with?" Investor says his/her name. "Hi Mary I am calling because I saw your "We Buy Houses" sign located on the corner of Dale road and Highway 132 and I wanted to introduce myself. I too am a local real estate investor that mainly buys and sells mobile homes in and out of parks and manufactured homes property in and around the area. I noticed that you are obviously doing deals so I wanted to ask what types of homes you're interested in and perhaps I can send some leads your way. I do marketing as well and wanted to establish a relationship with you and perhaps throw some business your way." The investor will usually talk now. "Curiously do you ever purchase used mobile homes or get any of these types of leads from your marketing? If so what do you do with these leads currently? We pay generous referral fees at closing. Do you have any unwanted mobile home leads currently that you aren't following up with? (Always exchange numbers and follow-up monthly.)
*Be ready to be asked how much do you pay for your referral or assignment fees.
**Be ready to be asked if you have any "available" traditional homes leads you can send this investor's way.
If there is one area where most investors need help it is to begin networking with local investors, repossession lots, dealers, Realtors, park managers, etc. Always have your business card ready and be ready to tell folks in one-breath exactly what you do, how you can help, and what leads you will pay for.
Message to everyone: Let F.O.C.U.S. stand for Follow One Course Until Successful.
Always remember Real Estate Investing is not a lone wolf activity - Real estate investing is a group activity. Always encourage everyone to contribute, make new friends, and be active in your local investing circles. Constantly be adding names and numbers to your business Rolodex and remember to follow up.
Love what you do daily,
Related Networking: Reverse Bandit Signs video: