According to Jay, the one thing that needs to go on every day in a successful real estate investor’s world is to have consistent leads from sellers of properties.
Watch this short video and learn from Jay where he finds these potential sellers.
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Jay Conner has been investing in Real Estate for over 15 years. He typically makes 2 deals a month. He has bought and sold over 400 homes.
He had an 800 credit score and the bank closed his LOC. He needed to find a new source of funding. In the past eight years, Jay has never missed a deal because of funding.
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Chaffee-Thanh Nguyen started investing in Real Estate a decade ago. He dramatically changes and impacts the lives of thousands of people around the world as an Executive Success and Event coach with the likes of Powerteam International and Marshall Sylver’s Mind Power Inc. Chaffee also teaches at his own events.
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Producer: Scott Paton
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Scott Paton:
Today is sort of like a typical day in your life, except for the this is the one day that you go live. And, aside from that, so what are some of the things that are happening in your world? Like as far as the business goes, because not every day is going to be, you know, a hundred thousand dollar profitable deal closing. And sometimes I think people need to understand, you've got to get up to the plate and take the swings and see what happens. So what's going on?
Jay Conner:
Well, one thing that's going on today that goes on every day and it needs to go on every day in a successful real estate investors world. And that is having consistent leads from sellers of properties that are wanting to sell their houses or sell their property. And the reason I say that is because, unless a real estate investor has daily, every day leads coming in prospective sellers, interested in selling their houses and properties, then you're really not in business. So what's going on today? Well, we've got leads coming in yesterday. We had leads coming in now, in today's environment and economy, we are not relying on subtle leads coming to us from the Multiple Listing Service. The reason for that is because not only here in Eastern North Carolina, but all across the nation inventory is very, very low. It's a very, very hot market.
It is a sellers market. And so, you know, if a house is listed in the Multiple Listing Service with a realtor, then everybody knows about it. I mean, that's goes to the same as for even bank owned properties or REO's. So since that's the case, we are focusing big time these days on locating, and we do it in various ways on locating potential sellers from what we call, Off-Market Houses. What Off-Market House is, it's a house that is not listed with the realtor community. It's not in the Multiple Listing Service, but this is what we would call a, For Sale By Owner or a FSBO. However, most of the leads that we get, the people don't even have a for sale by owner sign in their front yard. So, how do we find these? Well, you know, there's, you know, since it's low inventory, like if someone sells our house and they're going to stay in the same area, or where are they going to move to? There's nowhere to move to, because there's no inventory.
So, our several leads that are coming in these days are primarily coming from, it could be an estate, it could be probate. So, the owner of the property passed away. And so now there's heirs to the property and the heirs don't have a need for the house. So that's a consistent source that we have of leads these days. In addition to that, it could be someone that's moving out of the area. A house that we just closed on last week, that was their motivating factor. They're moving down to Georgia. The house needs some repairs. They didn't want to put any money in the house. So they responded to one of our Facebook ads. So Facebook ads is a consistent source of having leads coming in. We're also running Google ad campaigns. Those are the best leads because those people are actually searching for us.
They're typing in Google you know, need to sell my house fast or something like that. So, in addition to having consistent seller leads coming in and Scott, when you ask what's going on in my world today? Well, you know, as you said, not every day is a hundred thousand dollars day. I mean this morning my team is my realtor and my contractor went and looked at a house on a very, very nice neighborhood here in Morehead City. And I just got a call on the way back you know, getting back here to the office from my contractor, he says, Jay, this house, it looks good. It's very, not much rehab to it. But in that case, I'm still waiting on the numbers. The realtor went to get his final opinion on the after repaired value.
So I'll be hearing from my realtor, probably later today. I'll be hearing from a general contractor with all the budget and then I'll be figuring out, well, what's the person, what's their asking price. We've already got that information. So maybe that'll be a deal. Maybe it won't. We looked at another house over in Havelock yesterday on Kenneth Boulevard. And I wish the seller had told us that's a tear down. And I mean, can't even be rehabbed it's in such bad shape. So, I mean, there's like no offer going to be on that house.
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