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This Lesson is more of a lecture than a lesson. If an investor is the kind of person who starts and doesn't finish, then he only has one chance to make it in real estate - the first phone call. Skiptracing successfully is not about finding numbers, although that's what skiptracing is Succesful skiptracing us about what an investor does with the information. HoustonRealNews can lay out all the resources an investor will ever need to find numbers, give him enough phone numbers and addresses to last a lifetime to work leads. If that is all the investor wants, he need not read further. THE KEY QUESTION How should an investor track leads? How does an investor track phone calls? How does an investor track letters sent? How does an investor know when to send another one? How do investors track conversations? Here is how we recommend doing it...
2) Prioritize - Alphabetical lists are great - but they are great for reaction, not action. Action requires prioritization. The investor must incorporate a means of knowing what the next most important task is with his information. Calling Mr. Smith who left a message last night, or chasing what might be the sister of Mrs. Jones. 3) Communicate - All of the organizing in the world can not take the place of actually communicating. Be on the phone. Be sending letters. Get the message out there. "I want to buy your house for cash!!!" 4) Track - So the investor has made all of the important phone calls, sent letters. And is moving on towards the next level of prioritization and suddenly, someone calls back. "What on earth did I say, did I talk to them already, did I make an offer, what did the letter say?" Information must be tracked to effectively close deals. 5) Trigger - Prioritization is great for high priority immediate items. But for long-term communication, prioritization does not work well. Those tasks remain on the bottom of the proverbial pile. An investor's system must incorporate a trigger mechanism to let the investor know by when he must bring the file back to the top of the pile. Rinse. Repeat. If an investor incorporates these concepts into his skiptracing, then the skiptracing's success will not be limited to lucky phone calls. If you have questions and would like more dedicated and one-on-one/small group education, we can set up live in-person or on-the-job learning sessions - upon request or at a regularly scheduled time. Related Articles -BASIC EDUCATION OVERVIEW - Basic Investing ARV - After Repair Value Birddogging Contract for Deed Dealing with Contractors Estimating Profits Evictions - A Primer Executory Contract Foreclosure Overview Foreclosure Types Overview Hard Money Loans - a/k/a Asset Based Lending* Lease Options Leverage MAO - Maximum Allowable Offer Multi-Family Investing Basics as Presented by David Lindahl on March 4, 2006 No-Money Down Real Estate Investing Options Part-Time v Full-time Passive Investing For Beginners Pre-Foreclosure Profit Calculation Remodeling for Beginners Rent vs Buy Is Really Rent vs Sell Seller Financing as Investor Buying Tool Skiptracing Subject To Wholesaling Return to Listing Return to Investor Education |
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