S01:E02 – Finding the Deal
Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. In this episode, host Tom Zeeb discusses the importance of finding a deal through marketing. At its core, successful marketing consists of three aspects, the market (the who), the message (the what) and multiplication (the repetition). Tom uses out of state absentee deals to further drive home the importance of marketing. In this wholesaling approach, a real estate agent looks to find a motivated seller, negotiates the price, puts the property under contract and assigns that contract to another buyer.
Tom utilizes the strategy of direct mail marketing when wholesaling. With this approach, Tom stresses the importance of consistency and repletion as 95.5% of direct mail marketing leads go unanswered. Consistency is the key to tapping into that last 0.5% and successfully finding the deal. Finally, Tom identifies the three major elements to finding the deal and provides the audience with insights into his deal flow cheat sheet that he uses on a consistent basis.
What We Covered:
- 00:43 – Introducing today’s topic, Marketing, aka Finding the Deal
- 02:06 – Tom’s advice on marketing: Just Do It
- 03:18 – Out of state absentee owners
- 07:20 – The importance of having a website
- 08:37 – Marketing issues Tom has seen with other investors' websites
- 09:54 – Tom tells a story about successful absentee owner marketing
- 15:09 – The response rate in direct mail marketing
- 16:57 – Investing in marketing
- 18:58 – Tom breaks down the process of wholesaling
- 23:53 – Why Tom advises avoiding the story behind the property
- 24:48 – The three major elements to find the deal
- 28:15 – The importance of consistency
- 29:09 – Tom’s deal flow cheat sheet
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