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How to Get Your First Seller Financing Deal in 4 Weeks with $0 Marketing Budget
Hey gang, this is Mike with My Real Estate Dojo. Today, I’m going to show you how to close your first real estate investment deal in just four weeks with a $0 marketing budget. Yes, you heard that right! Let’s dive into the three stepping stones: lead generation, conversion, and exit strategy.
Stepping Stone 1: Lead Generation
Generating leads without a budget is possible if you follow these steps:
Create an Excel Sheet: Start by creating a Google Docs spreadsheet to keep track of all your leads. Include columns for the seller’s name, address, cell phone number, email, motivation for selling, and how you found the lead.
Post Seller Ads: Use my seller ads to post on platforms like Craigslist, Five Miles, Offer Up, and Facebook Marketplace. These ads should be tailored to specific types of motivated sellers, such as those going through a divorce or behind on payments.
Send SMS Messages: Send text messages to sellers on For Sale By Owner (FSBO) websites like Zillow and Trulia. If you need a sample text message, leave a comment, and I’ll provide you with one for free.
Cold Calling: Get on the phone and call sellers directly from FSBO websites, Craigslist, Zillow, and other online classifieds. Use a cold calling script to engage with sellers effectively.
Fit for Dollars: Walk, run, or bike around your neighborhood with your family and look for distressed properties or FSBO signs. This is a great way to get exercise and find potential deals.
Drive for Dollars: Similar to fit for dollars, but you drive around looking for distressed properties or FSBO signs. Stay in your local area to maximize your time and efficiency.
Facebook Classified Groups: Post your seller ads in Facebook classified groups. Target groups where people are selling personal items as they might be motivated sellers.
Stepping Stone 2: Conversion
Once you have leads, the next step is converting them into deals:
Filter Leads: Use a phone script to ask sellers specific questions and determine their level of motivation. Only pursue highly motivated sellers to save time and resources.
Make Offers: Always provide written offers. Use my Terminator Offer Letter, which includes both a cash offer and a seller financing offer. If you want sellers to finance the deal, you need to make that offer explicitly.
Send Follow-Up Letters: If you have a small budget, send follow-up letters or postcards to the most motivated sellers. This keeps you top of mind and shows your seriousness.
Interview Attorneys and Title Companies: Once you have potential deals, start interviewing attorneys or title companies that specialize in real estate transactions. Ensure they are familiar with subject-to deals and other creative financing methods.
Stepping Stone 3: Exit Strategy
Your exit strategy determines your approach and ultimate goal:
Join Facebook Real Estate Groups: Add yourself to 20-30 real estate investment groups on Facebook. This will help you build a network and find potential buyers for your deals.
Attend Local REI Clubs: Join your local real estate investment clubs. These meetings are great for networking and finding cash buyers once you have a deal under contract.
Build a Cash Buyers List: Start building your cash buyers list only after you have a deal. This way, you are not wasting time with unqualified buyers.
Summary
By following these steps, you can secure your first seller financing deal in just four weeks with zero marketing budget. The key is to be proactive, stay organized, and focus on motivated sellers.
If you’re interested in mentorship, join my Abundance Club where you can get personal coaching, access to my best-selling courses, and weekly meetings for just $97 a month. For a limited time, you can try it out for seven days for only $1. Visit MrNoFluff.com to join.
If you found this information helpful, please like, share, and comment. Remember, don’t take no for an answer and always strive to be your best. This is Mike with My Real Estate Dojo. Have a great day, gang!
Report From The Trenches; Cold Calling Scripts, Tips, Videos & Tricks vBlog
