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Finding Wins In The Windy City-Part 3
Day 3 of 4 Wrap Up
Wednesday got off to a brisk start with Andrew Teusch as I arrived at his home and I made him immediately finish his homework. We were both up late the previous night with the Real Estate Profit Coach Coaching Conference Call working on items. Andrew only had about another dozen business cards to imput into excel. We then downloaded his excel contact list and opened up a Constant Contact acount for him to utilize for helping him get the word out to his colleagues and friends about him becoming a full time investor and raise private money. All in all, his list was less than 100 contacts, but I helped him write up a nice template that he could use repeatedly as his list grows.
After combining lists we scheduled his email and then turned to posting his Craigslist ads again. I wanted to ensure that he included his websites so that he could drive traffit to and from his website. We posted several ads to help him raise money, find buyers, and find other wholesalers. Once he completed this, we headed out to an early lunch as we wer both starving.
When we arrived back from lunch, I put Andrew to work calling the listed Wholesalers and Rehabbers that were listed on his investment club's website. While he kind of beat around the bush at first for doing this, he got very comfortable after several phone calls. While he left mostly messages, he was able to cross several off of the list who were no longer investing. The real find was uncovering an investor who was actively buying all across the country. Andrew not only got all of the investor's contact information, but he immediately took action and sent out all three of the REO pools that he had uncovered from the previous days phone calls. Hey, one out of thirteen ain't bad!
After calling rehabbers and wholesalers, I put him to work on calling the remainder of the Hard Money Lenders that were provided also by his investment club. He rapidly churned through the list and eliminated a quarter of them as they were no longer in business. He did identify one potential lender who had commercial REO's after he hung up and I discussed the phone call with him. We decided that he would be calling the contact back the following day with a fresh perspective.
After making these phone calls, I had him and myself dive into the Chicago area Craigslist postings. We uncovered several investors and wholesalers who we called and left messages with along with identifying some newbie investors that Andrew could potentially work with wholesaling properties to. I reminded him that he needed to make sure and ad those individuals to his investors list for future reference.
I also had Andrew join two other MeetUp.com groups along with emailing his existing groups the specifics on his owner financed condo deal and REO pools that could be cherry picked. This took a while as we evaluated several other MeetUp groups and chose for him to just be members of five local ones initially. I also sent out his REO pools to several other 1:1 students in the Chicago area that had identified themselves as potential buyers during the nights previous phone call. Things were really coming together and we had definitely created Andrew an effective way to market his deals.
To wrap up the day we filmed the video wrap up for day three. But upon completing the video, Andrew received a return call from one of the investors who proved to be a realtor that was an investor and interested in working with Andrew to pull comps, negotiate short sales, and represent him. Unfortunately, we were not able to set up an appointment with her prior to the following week so I discussed with Andrew along with emailing him a template for interviewing the realtor along with other team members that he might come across after my visit was finished. We were both exhausted from a very busy week so far, so we called it a day and I headed back to my hotel room to crash!