Here’s Your Cash Flow Business Tip of the Week

If you can perform courthouse research effectively, you can forego placing ads. The reason is that you can “pre-screen” a potential note transaction at the courthouse (looking over the numbers on the seller take-back note and then examining the accompanying warranty deed) in order to determine its viability.
With ads, you never know what kinds of calls you’re going to get. You’ll get some good but invariably quite a few bad deals that won’t go anywhere because you can’t control the quality of the respondents. By contrast, when you do courthouse research,, you’re zeroing in not only on bona fide seller take-back note transactions but you’re also delving further into the documents to determine the position on the note, how many payments have likely been made already (we call that “seasoning'”– the more the better), whether or not the note is secured by a HOUSE (I personally like both commercial property and SFRs but some brokers like to zero in on  only homes– they each have their merits but that’s a discussion for another day), and, OF COURSE the noteholder info (where you’re going to mail your marketing piece, and not just once but SEVERAL times to ensure that you catch them when they’re motivated).

[There’s more, but I’m just giving you the “Cliff’s Notes”]

What all of this means is that EVERY call you get as a result of your mailings is definitely going to be something you can make money on. No guesswork here because you’ve already pre-screened the deal. Want your closing ratio to go way up? Either do courthouse research yourself or hire someone to do it for you. Expert researchers can generate up to 50 leads per 5 hours spent at least one day a week. That’s 10 leads an hour that they can and should make money on should they get calls from those.
Of course, you’re not going to get that many leads an hour on your first day. You need to spend some time there to learn how the system works and then hone your skills. But it will be well worth it since the competition is so inferior in this area.
Think in these terms (and I’m being very conservative here assuming a beginner’s level of skill):
If you do just 20 leads per day one day per week, you would come away with 86 QUALITY leads per month which would work out to 1,032 leads per year that you know you can make money on.
Again, some expert researchers can do 50 leads per day. This is how your marketing ‘snowballs’ and that’s how you make money.

P.S. Have you heard our teleconference this week on courthouse research? If not, you should listen to the replay. I guarantee you’ll learn a whole lot more about all of this. Be sure to listen to it while it is still posted:

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