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Using The Internet In Your Lease Purchase Business
First you need to find a list of For Sale By Owner Sites. You do this by going to one of the major search engines. Our two favorites are Yahoo and Google, but any one of them will do. Enter For Sale By Owner (FSBO) as your search words. After you search for FSBOs you will get a bunch of sites to go visit. Visit them, check them out, see how they work, and the ones you like put in a favorites folder entitled FSBOs.
Now that you have a list of FSBO sites you need to get telephone numbers of sellers who have homes you would like to lease purchase in your state. For those of you lucky enough to border another state you can enter a search for that state next.
Remember to set up your yellow legal pad with columns for telephone number, type of property (single family, condo, townhouse), price and notes section. Remember you also need to set up your database with the same information. However, you are going to want your database to have two additional fields for date your called, and action to take.
Go through the FSBOs sites you have collected and take down the appropriate information. Get your telephone script handy and start calling. After you are through with your telephone calls, enter the information in your database. We use Access, but any database will do. In the action to take field I make a note of whether I need to send a letter, email, newsletter, and/or to tickle to call again.
Next, however, you want to have a mail merge program. For example, we use Group Mail (MAKE THIS A LINK) for all on-line correspondence. Group Mail allows me to take my Access files and import them into Group Mail. It also affords me the ability to make my emails very personable by using the individuals name in my letter, the date I called on the property, and depending on the email when I will follow up. In addition the program also allows me to put specific groups (prospects, consults, tenant buyers) into separate groups. I can have a very large Access database that Group Mail (it will import most major databases) will sort out for me, and give me just who I want to send a specific email to. For all off-line correspondence I use Microsoft Word.
So to continue, after I am done with my calling and have entered all my information in Access. I use Microsoft Word to send out my follow-up letters. Some sellers I just send my thank you for speaking with me, here's my card letter. Others I want to be more specific with and will send my these are the ways we work with you letter, and so on. For you PFYS students, these letters and emails are in the LP manual.
After I have completed my follow-up correspondence off-line I want to be sure to have this information in my Group Mail program for follow up on line. For example, I have groups set up for the various follow-up emails that I send out based on the off-line letters sent.
So get on the Internet, find some FSBOs, call and send out those all important follow up letters, and be sure to personalize them.
Copyright 2003 DeFiore Enterprises
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 19 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 "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com
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