Wednesday, December 16, 2009

Chris Chico's Real Estate Voodoo Part 2

So, I called the 6 people who left messages with information using the "script" that Cris Chico provided.

1. One guy dropped $60,000 off his listing price for his triplex right there on the phone.

2. One lady is a good prospect for a short sale on a reverse mortgage, but seems to have a foot injury that precludes her involvement for the moment so I will need to follow up with her.

3. One guy was just calling to see if I was one of those "lowballers"... why, yes, indeed I am.

4. One set of sisters who have an inheritance have differing levels of motivation. The out-of-state sister is far more motivated to sell than the in-state sister.

5. Two guys are also investors but they don't want to sell their properties at a price low enough for me to wholesale... though one's property has 2 houses on it which can be sold separately. He's a bright savvy guy, but the amount he wants to net might preclude wholesaling the houses - and he has them happily rented, so we'll see. He did mention wanting to cash out to pay off some debt. He might turn into a more motivated seller.

6. The other wants too much for his duplex, but is working on a wholesale deal in another area and might be a good wholesale buyer.

A total of 31 people called to listen to the recording, which, by the way, is still the one from Michael Jake's coaching program that I took in the spring. I use and they've made their customer sign-in button disappear so I can't sign into the account to change the voice mail. That was very frustrating.

An aside: All of the coaching students in Michael Jake's program have done at least one deal if they did what he said to do. I got sidetracked by bulk REOs (which my sellers never were able to deliver or if they did, I never heard anything), then summer came and I had both kids at home with no help, so no time to do real estate investing work.

Back to Voodoo... I checked out the triplex this afternoon and will give the owner a call tomorrow morning to see if he'll drop his price some more. This place needs a lot of work, though it's considerably better than some I've seen. Two of his units will be vacant as of next month, so he should be even more motivated. And, I'm going to continue to follow up with the short sale prospect. Her deal will be a win for both of us.

Until next time...

Thursday, December 10, 2009

Chris Chico's Real Estate Voodoo

So, I let the Virtual Wholesaling program go a while ago. I didn't really see the point of paying almost $900 a year for online access to a program. However, I got a recent ad from Cris Chico (Virtual Wholesaling's creator) for his Real Estate Voodoo program. It only cost $27, so I figured, what the heck; why not try it out?

Well, boy howdy! I already had a source for absentee owner leads as I can get them through my title company. Therefore, I didn't need the videos on getting leads through Realquest or SiteXData. I also already have an automatic answering/voice mail service, so didn't use the one he recommended. But... the postcard that he gave and the instructions for using Click2Mail to send them were excellent.

I sent approximately 600 postcards that went out Monday and the calls started flooding in Tuesday. It's Thursday and I've received 25 calls and 6 of them left messages saying they're interested in selling property. I'm very happy with that response rate. The mailing cost right around $170.00 and if I can flip even one of these properties, my returns will be amazing.

I've been watching the videos on how to speak to the sellers and how to craft the offers. In order to follow this program, you need to have sitexdata comp reports, so I just ordered those and must wait for approval (on a free trial) before I call the sellers back.

So far, the Real Estate Voodoo program is simple, easy to follow and quite effective. Frankly, I like it better than the Virtual Wholesaling site - ESPECIALLY for the price! The Real Estate Voodoo web site is actually lined up, top to bottom with the document you need, videos explaining what to do and links for other web services.

I'll let you know what happens when I call the sellers using the script that Mr. Chico provides.

Until next time...