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How do I bring consulting into my lease purchase
business
As you are making your cold calls on property, you will
run into sellers that are having a hard time selling, however, the numbers
just don't work for you to take on the deal. Do you just say, "I
can't work with those numbers".
Heck, no. In fact, I don't even use that phrasing.
After I get all my information on the house, financing, why they are
selling, and what their needs are; I know whether or not the deal will
work. I always send a follow-up letter, and a brochure. I follow-up a
couple of days later to be sure they got the information, and mention
that I could consult with them and help them move the property quickly,
usually in 30 days or less.
Remember, the time factor here. You are using consulting because the
numbers don't work. The seller, however, needs to move the property within
a specific time frame, so you have an additional option and a very good
solution for him.
If the seller is not time motivated, you will not get a consultation
immediately. Consulting might work later on, but she/he is going to want
to think about it. When I cold call on these, I follow-up with a brochure,
my phone call that they received the information, and that I will get
back to them or they can call me if the traditional methods don't work
for them. I always say to them, I just want them to know that there are
other options for them to go with.
You have to give value in your consultations. If you don't have some
kind of written material for them, which I strongly suggest, you will
have to sit down with them, and do a lot of hand holding. This also limits
you to only working with individuals in your immediate area, and as we
mention in our manuals and e-books, consulting on the web is a dream,
and can add substantially to your cash flow.
You also need to have a reasonable price structure. I know some people
believe in charging a bundle for consultations (many of these individuals
only work in areas e.g. CA they can get away with this; I'd like to see
them try this in let's say Indiana, Kentucky, or some areas in the South);
however keeping your pricing at a affordable level gets you more business,
more referrals, and ultimately more money. Pricing is going to also be
very dependent on the area you are working in.
I'd rather have five consultations per week than just one, because I
then have five people that can refer me to their friends and colleagues.
What we do is offer several packages to sellers. The consultation is
at a basic rate with 30, 60 and 90 day follow up periods. The price is
commiserate with the follow-up periods.
So try consulting, it's another income stream for you, that is also a
win-win-win situation for you, the seller and the tenant/buyer.
Copyright 2003, DeFiore Enterprises.
About the author
Interested in having your own successful, home based creative real
estate investing business? Chuck and Sue have been helping folks start
successful home based businesses for over 17 years, and we can help
you too! To see how, visit http://www.homebusinesssolutions.com
for the latest FREE tips and tricks, educational products and coaching
in creative real estate investing and home based businesses. No time
to visit the site? Subscribe to our FREE "how to" Home Business
Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com
coaches@homebusinesssolutions.com
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