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Sales Process – Best Practices

By Dan Harkey

Do you ever think that for some reason you are not getting the results you want in your sales career? Do you have feelings that you try, but it is just not working? Maybe you need a minor tune-up, or perhaps a major overhaul.

Let us review the sales process:

Some people think that sales are concluded by what is verbalized in some learned word sequence, and how those words are used to convince a prospect to purchase products, goods, or services. Some may even think the correct method is for the salesperson to use slick language, ask questions that require a certain type of answer, handle objections, and a sequential closing interaction with the potential buyer. Granted, knowing your product, a good prospecting system, and training about the sales sequence is important. No doubt!

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I subscribe to a bit of a different philosophy. “You locate a buyer, rather than create a buyer.” If you have a large enough group of prospects and keep yourself in front of their conscientious thoughts, they will most likely think of you if they need your services. Also, you should constantly work on developing and nurturing a like-and-trust relationship.

The first requirement is to develop a thorough understanding of your products, goods, or services with which you are involved. Thorough explanation of the technical aspects and benefits is a must. Handling questions about the function, usability, quality, durability, and pricing is important. What are the benefits of owning the product or purchasing the service, or investment?

Success in the sales profession is a learned proposition. What I mean by that is I do not believe that there are natural born, predestined successful salespeople. Some may start earlier than others, even in childhood, by gaining the personal confidence and developing characteristics that are required to be a successful salesperson.

80/20 Rule:

eighty-706881_1280The 80/20 concept applies to almost all sales endeavors. 20% of the salespeople account for 80% of the total sales volume in industries. Correspondingly, 20% of the salespeople make 80% of the available income. The remaining 80% of the salespeople receive a meager portion of the remaining 20% of available income. The 80/20 rule also applies to the quality of your “active” prospects. You will create 80% of your new business transactions out of 20% of your “active” leads. The salesperson’s job is to focus on the 20% and to convert member(s) of the remaining 80% into the upper 20% referred to as “active.”

Marketing Strategies:

There are various marketing strategies used in solicitation including face-to-face networking in groups, interactive relationships in industry-related groups, direct mail, email, and direct calling. Direct calling may either be cold calling, repeat calling to maintain contact, or to follow active leads. All are within the scope of solicitation and are for starting and nurturing an ongoing relationships. What do you have to offer that might have significant benefits to the prospective purchaser? All methods consist of a strategy to convert prospects into an active relationship with you, including establishing business relationships and friendships. “Active” consists of a group that has communicated with you and expressed an interest in your product, goods, or services. Of course, “actives” can become friends and friends do business with friends! Business success, as well as life in general, functions much better with many friendships. This includes happiness, mental health, self-actualization, and monetary gain.

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Developing a large network of leads and personal relationships takes a lot of focused time and effort. Merely locating and purchasing a list does little. A list should be created and maintained constantly for a large subset group that may be interested in what you have to offer. The list will need to be appended, which means it is sent out to an email marketing vendor who can verify whether the address and email address are still correct. The list will need to be imported into a customer relations software system to begin efficient daily management of the data. The list needs to be worked daily to convert people from “cold” or “warm”, into “active.” What I mean by daily is not to call the same people but to work your list by calling each person periodically such as every 60 or 90 days. Excessively frequent calls could be considered pestering.

Information contained in the list will need to be constantly updated and expanded because people move jobs, companies go out of business, show disinterest or disrespect, habitually fail to return phone calls or email requests, retire, change names, change email addresses, change business locations, a change in life circumstances, etc. The “active” prospects in your network are the only ones that you may reliably count on in determining the size of your network or lead base. Also, even with a sizeable “active” lead base, you will lose 20% to 30% of them per year for all the reasons stated.

After much time of consistent follow up without real response or success, such as 24 months, you may elect to drop the prospects from your “active” list and cease active follow up. Dropped leads will be replaced with “warm” leads that become “active”, and new relationships. The other option is to only call or email them occasionally, such as twice a year. The fundamental aspect of the process is that it is a sequential daily action system.

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Here is a suggested action that you should take for someone who routinely or habitually does not respond to your request to communicate; send an email that states “Fred, I have tried to contact you a few times, without success. Would you prefer that I do not bother you?” If Fred wants to continue the relationship, he will respond. Fred may respond politely and say “no,” or just not respond at all. If Fred does not respond, then you may demote him back to “cold” and keep him in your database email marketing system for future interest and referrals. “Cold” leads do not get active personal follow up. If Fred is disrespectful or belligerent, just delete his record entirely. A poor strategy is to follow up with the same group of prospects, even when they show non-responsiveness or disinterest.

As the process becomes well lubricated through practice and experience, you can expect increasing momentum until you have so much business that you are forced to slow down marketing and personal contact follow-up in order to assimilate the additional new business, and/or new transactions.

Action Habits:

What size is your “universe of active possibilities.” Are there 10’s, 100’s, 1,000’s, or 10,000’s of prospects that you may be able to directly or indirectly follow up or market to? You have a current network size or number of “actives” and “prospects.”. Each person that you have in your follow-up system has a separate size of their own network. If you add the size of your network to the size of all the networks of each party that you market, you can establish a total, or “universe” of contacts. The question becomes, do you and each person that you follow up have a large enough network and a consistent daily action habit to develop a successful and sustainable career?

smartphone-1445489_1280Here are three different examples of persons that you may solicit in your “active” lead base. The distinction is whether both you and the person that you are following up with have their own separate and consistent daily action habit?

1) You have 10 “active” leads in your universe. Another person that you follow up with consistently has a total of 10 “active” leads in their network. If you communicated with your 10 each month or each quarter, and they in turn communicated with their 10 leads then the total universe of “active” possibilities would be 100.

2) You have medium-size networks such as 200 to 400 but fail to engage in a consistent daily action habit. Failure to engage may become your barrier. It will be necessary for you to change your action pattern. Calling, emailing and/or communicating consistently with at least 20 active prospects daily is a good start. 20 is not a magic number, but if you call and they enjoy talking to you, that may be all you can handle. Otherwise, you may be calling 20 to 30 “actives” per day including completed and non-answered calls and follow up with a polite “thank you” email.

3) You have 400 or more “active” leads in your network that you follow up each month or each quarter with a good action habit. The person you follow up also has 400 or more potential leads that they follow up consistently with a good action habit. 400 X 400= a total of 160,000 universes of possibilities.

The purpose of these examples is to serve as a reminder that if you want to be successful, then associate and follow up with other correspondingly successful people who also have large networks. Imagine having 1,000 different people who are receptive to taking a call from you, showing respect and enjoying the conversation, who also have a large network of their own. This, of course, is an example.

There will be a natural point that you will not be able to keep up with the pace, because you will have way too much business. You may need to hire an assistant to leverage your time and effectiveness. This assistant may be an employee or an independent contractor. The minute that you have spare time from handling all your new business, you will restart the process all over. The real magic will begin to occur when business acquaintances become friends. I have said this repeatedly, “friends do business with friends.”

Calling and emailing are not the only mediums of communication, but they are highly effective.

digitization-4813408_1280Remember that a prospect list can disintegrate over-night. In 2006 my company was primarily using direct mail, and we sent out about 1,000,000 letter form solicitations each month. Then by September 2007, the market crashed, and the lead base quality crashed with it. Hundreds of thousands of real estate agents, loan agents, investors, and builders/developers left the industry.

Over time when the dust and smoke cleared it was necessary to reconstruct a new list and start all over. Prepare for this event! If a crash in the quality of your lead base occurs consolidate down to your “actives” after verifying that they are still there. The entire process is a system that I refer to as a best practices action system.

Remember the concept “you locate a buyer; you do not create a buyer.”


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Dan Harkey
Business and Private Money Finance Consultant
Cell 949 533 8315
dan@danharkey.com

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Getting Prepared for After COVID-19

By David Mashian

Thankfully, we now see a light at the end of this tunnel. We all have been self-quarantining, and are eager to get back to “normal” life. It will be a new normal, and things will not be where you left them before the quarantine. Even now the people in China are cautiously and slowly peeking their heads out of their homes to see if all is OK, so there will be an adjustment period for us as well.

If you are in the sales business, like I am, we need to get tooled up to get back into action and start SELLING! You are going to Create or Find New Opportunity. This situation is an opportunity. Things change, they always change, and it is best to accept and adapt. Interestingly, in Chinese, the word for “Problem” and “Opportunity” are the same word. So, this is a new opportunity, and a possibility for a better life and a better you.

WHAT TO DO?

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1) Make a TO DO list for today, and at the end of the day, make a list for the next day.

2) What should be on this list? Sales Activity is #1 – We are going to make and / or find opportunities.

WHO TO MARKET TO?

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1) People you already know and have a relationship with. DON’T PRE-JUDGE – JUST CALL!

2) Call people in your cell phone contacts. Get personal with your calls to create the opportunity. People have time on their hands and are receptive.

a. Call people you have done transactions within the past, no matter how long ago.

b. Call colleagues in the business, and past colleagues in your life. You do not know where your business is going to come from, especially given the current circumstances.

c. Friends and Family.

Implement Marketing Program

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1) Make or clean up your email list.

2) Create or update your marketing, social media, website, meet-up group, bio, brochures, flyers.

3) Start marketing by doing email blasts, post articles on social media, hosting webinars.

4) Offer something of value. Create content of value – not a sales pitch. Become viewed as a leader in your industry. Offer newsletter, helpful website links and useful webinars.

WHAT TO DO PERSONALLY:

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• Eat healthy, cook at home.

• Meditate, pray, bring calm into your life.

• Exercise, go for walks, move your body.

• Sleep well and rest when it is time to rest.

• Play Music, Paint, Enjoy your hobby.

• Talk to positive people.

 


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David Mashian

David Mashian is the founder and CEO for MoneyMac Loans. David started MoneyMac because he personally experienced and realized that small businesses and entrepreneurs could not qualify for loans under the traditional bank lending standards. MoneyMac is a nationwide lender dedicated to providing investment real estate loans for residential 1-4, multi-family, mixed-use and commercial properties. David provides asset-based investment property loans give financing for tough to qualify borrowers, including W-2 employees, self-employed entrepreneurs and small business owners. MoneyMac focuses on the property’s value and the borrower’s credit, without using bank statements or tax returns.

David is a proven real estate industry leader, who has helped many companies transform their business goals to reality. He has a high degree of real estate experience and expertise spanning from real estate finance, brokerage, sales, leasing, brokerage management, and franchising of real estate brokerage companies. Using his wide base of connections to brokers, investors and industry leaders, David has put together many deals for joint ventures, debt & equity raises, acquisitions, and real estate sales. David graduated from the University of California, Los Angeles, and teaches Real Estate Principles at the University of California, Irvine.

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Achieve Success With Your “Dream Team”

By Kathy Kennebrook
(Marketing Magic Lady)

I have been asked a lot lately by real estate investors about how to create a dream team for their business. Putting your “Dream Team” in place while establishing your real estate business is one of the key steps to developing a successful real estate investing business. Your dream team is going to consist of those people or vendors who can help you find deals, provide funding, get your deals closed, fixed up and then sold or leased quickly. Having your dream team in place and being able to close deals quickly will give you a distinct advantage over your competition by allowing you to complete deals they simply won’t be able to finish in a timely manner.

The first element you need to think about is your marketing team. Your marketing dream team will include the people who can help you locate good deals, such as “bird dogs”, Realtors, mortgage brokers, promotional companies who will supply your business cards, signage, t-shirts and whatever advertising materials you need, and people who will do your direct mail campaigns for you. You also need to add to the mix the account representatives who will handle your classified and display ads in your local newspaper and shopper guides. You also need to have someone who can help with placing signs, flyers and business cards around town for you. The more you can automate this part of your business, the more deals you’ll be able to do more quickly.

african-3402716 teamNext, your dream team needs to include a title agent and/or a real estate attorney. These people are going to insure your deals close smoothly and with a clear title. A real estate attorney can help you to solve a lot of problems that can arise during a closing, such as a title glitch, a survey problem, or estate and probate issues, just to name a few. As you develop a relationship with your title agent and/or real estate attorney, they will become a major asset to your business by being better able to work one-on-one with your sellers and you to make sure all your deals close as smoothly as possible. You also need to make sure that your title agent and/or real estate attorney are bi-lingual so they will be able to work with your Spanish speaking sellers as well. This part of your team is one of the most important. If any part of a deal is going to fall apart it is going to be during the process of closing. Make sure you choose the best in the industry to close your deals from the very beginning, even if it costs a little more!

Using the same “team” to close all your deals for you will give you credibility as a real estate investor both with the sellers you are dealing with and with other vendors you will count on to bring you deals, such as Realtors or mortgage brokers. When you use the same people to close deal after deal for you, they will be willing to go the extra mile to help you in any way they can to get the job done. In addition, they will be able to communicate with one another concerning problems without your having to get involved.

analyzing-3385076 teamSome of the other vendors you’ll need to have on your team include a surveyor, a pest control company (for those states that have termite inspections) private or hard money lenders, an insurance agent, an appraiser and a home inspection service. You will add to that list a mortgage broker, a Realtor and any other vendor that might be unique to the area you live in. These are all people you need to have in place to help you get your deals closed as efficiently as possible.

A friend of mine once told me, “Success is dealing with people as they really are, not what you would have them appear to be.” Know, beforehand, the strengths and weakness of your dream team. Establish a rapport and relationship first. Dream team success is greatly affected by lasting relationships. These do not happen overnight. Remember, success breeds success. Create your dream team from only successful people. The longer you work with the same vendors in your business, the more credibility you build along the way. Don’t keep switching vendors from deal to deal just because someone is a little cheaper.

handshake-3298455_1280Your ability to close quickly can make or break a deal for you. There have been many times where I was able to work with a seller instead of another investor because I was able to close within days instead of weeks. Sometimes a seller’s circumstances dictate that they need to close within days. If you can’t accommodate them, they will find someone who can.

Another reason you want to have your dream team in place is because they will work together for you without you having to be involved in any of the headaches of a closing. It’s rare that I’m ever involved in any of the details of a closing until the closing date. The way I handle my “dream team” is this: each member of my team knows who all my other vendors are and they have contact information for each of them. When a problem arises with a closing, they are able to work together to solve it without any involvement from me at all. This is a great way for your closings to be handled on “auto-pilot” almost, giving you more time to create more deals or do other things that you want to do.

teamwork-2188039 dreamteamYou’ll also want to have your dream team in place to help you to sell or lease properties rapidly. The members of this part of your team may include a Realtor, a sales person of your choosing, someone to handle marketing of the property, a mortgage broker to get buyers pre-qualified for you, and a good rehab crew to get your properties ready for sale or lease. You may also use a property management company to handle your leases for you on properties you choose to keep. Make sure that all of the members of this group are as creative as you are when it comes to getting things done and properties leased, sold and closed.

Other members of your team may also include wholesale buyers who will purchase properties from you without you having to do any of the repairs. This is a good way to make money quickly and easily in the real estate business.

sale-3701777_1280As soon as I put a property under contract to purchase, I know exactly what my exit strategy is going to be, so when I close we are ready to move onto the next phase, the rehabbing, the selling or leasing of the property. Having your dream team in place is an excellent way to streamline your business to enable you to do more deals faster and make more money.

Once you put your dream team in place, you’ll be able to close more deals more quickly and easily than you ever imagined.

For more information about Kathy Kennebrook’s products for the real estate investor be sure and visit her website at www.marketingmagiclady.com While you are there be sure and sign up for Kathy’s FREE monthly newsletter and receive an additional $149.00 in marketing tools absolutely free!!


kathykABOUT THE AUTHOR: Kathy Kennebrook is the ultimate success story. She spent over 20 years in the banking industry before discovering the world of real estate. After attending some real estate seminars this 4 foot 11″ mother of two got really excited and before you know it she’d bought and sold hundreds of properties using none of her own money or credit. Kathy holds a degree in finance and has co­authored the books­ The Venus Approach to Real Estate Investing, Walking With the Wise Real Estate Investor, and Walking With the Wise Entrepreneur which also includes real estate experts Donald Trump, Suze Orman, Robert Kiyosaki, and Dr. Wayne Dyer. She is the nation’s leading expert at finding highly qualified, motivated sellers, buyers and lenders using many types of direct mail marketing. She is known throughout the United States and Canada as the “Marketing Magic Lady”. She has put together a simple step­ by ­step system that anyone can follow to duplicate her success. Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand, Donald Trump, Dr. Phil, Dan Kennedy, Mark Victor Hansen, Ted Thomas and Suze Orman to name a few.

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Marketing Offline Helps Build Personal Relationships

By Gene Guarino

What is Offline Marketing?

Offline Marketing is having a brochure, flyers and business cards. They should look professional and be accurate and clear. You only get one chance to make a first impression. The brochures should match your website and your online presence. In addition to that, one of your biggest and probably the most important way to market your business is referrals. Getting the word out to other people who can bring business to you.

business-card-943997_1280How do you get referrals?

When somebody is thinking about Assisted Living, they’re going to ask someone they trust. who do you know? Where do you think I should go? If they have a friend that’s in a care home right now, they can invite them over for a visit to see for themselves. We need to create and maintain those relationships.

There are professional referral sources.

There are placement agents that refer seniors to homes. They went out and created the relationships. They typically get paid one month’s fee for those referrals. That’s expensive however if the bed was vacant last night you would have earned zero and you’ll never get that revenue back.

tie-690084_1280There are attorneys that specialize in working with seniors. Insurance agents that work with long-term care insurance. Financial planners that specialize in working with people’s estates as they get older. They’re the ones who are getting ask for a referral and they can direct those people to you.

Hospitals and doctors offices are your two other primary sources for referrals. People don’t go into a hospital for fun. They go there in an emergency or because they’re sick and they need to, not because they want to. The hospital has doctors, nurses, and orderlies that are potential referral sources for you. It could be something as simple as having your brochure in the waiting room or building a relationship with the nurses and staff.

You can build offline marketing relationships yourself!

chocolate-744337_1280Imagine if you just showed up once a week for a month where you just bring in a flat of coffee, a small box of chocolates and a handful of brochures. Everything I just described costs about $25 or $30. I suggest that you go there once a week at about 10 AM, when they need a little pick me up. Nobody’s ever going to turn down coffee and chocolate. You just say, “Hey, just wanted to stop by and say a quick hello.” Get to find out what their favorite coffee is. That’s about $100 per month. You’re going to get one, or two, or maybe many more referrals from that. Every one of them is worth thousands of dollars to you,

It doesn’t have to be you building those relationships either. It could be your manager or somebody that’s got the personality and is willing to get the word out and build those relationships. Set a budget, give them a business credit card or debit card for these types of expenses to help build those relationships.

Referral marketing is the best way to get new business in Assisted Living and Residential Assisted Living.

You can also subscribe to our iTunes for on the go listening:
https://itunes.apple.com/us/podcast/assisted-living-networks-podcast/id1360517721?mt=2


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Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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3 Proven Strategies for Small Business Owners to Increase Cash Flow

By Dr. Teresa R. Martin, Esq.

Is your small business struggling to make enough profit to pay the bills? Living paycheck to paycheck can be quite frustrating. Perhaps you started a small business so you could pursue your dream while earning money at the same time. If so, then you know that it isn’t always easy to get a small business to bring in the profits you’d like.

However, if you’re willing to work hard and have a good plan, there’s no limit to how far you can take your small business. Luckily, there are many ways to increase your current cash flow and free you from the threat of financial disaster.

Consider these strategies to increase your cash flow:

  1. Collect feedback. Many small business owners forget the importance of soliciting feedback from their clients. There are several effective ways to find out what your clients think about your products and services.

  • Ask the client to fill out a quick survey or questionnaire to rate various aspects of your business. These surveys can provide an excellent glimpse into your client’s point of view. There are many different websites that enable you to create simple surveys. Look online to find one that meets your needs.
  • Follow up with your clients with a phone-call or email asking for comments about your products or services. Inquire about which aspects they are satisfied with and which need some work.
  • Talk to your clients in person and ask them how they feel about their experiences with your business.

Remember, word of mouth is one of the best ways to advertise your business. If you have a bunch of satisfied customers, they’ll tell their friends and family about their positive experience and you’ll get more business.

  1. Get rid of products that don’t sell. It’s likely that you offer your customers a wide variety of products, but only a few of these products bring you maximum profit.
  • Sometimes a large inventory can work against your business. Customers often avoid buying altogether when they’re overwhelmed with options.

  • Instead of offering more products that likely won’t be sold, trash the unattractive products and offer more items or services related to your best-sellers. This is an excellent way to boost sales while reducing upkeep and inventory costs.
  1. Pursue unique marketing strategies. If your business is experiencing a steep drop in sales, there must be a reason. It could be that your marketing techniques are simply not as effective as you thought. Consider alternative marketing techniques.
  • Think about marketing your business online. It’s becoming easier with each passing day and more people are prone to search the internet for better deals. Businesses that have online order options are often much more successful. It’s a perfect way to increase cash flow.

  • Get the word out. Take advantage of social media sites like Facebook and Twitter to promote your business.
  • Radio advertisements, commercials, billboards, and flyers all increase the visibility of your business. Sometimes, door-to-door marketing is just as effective.

By using these strategies you can boost sales and increase the revenue of your business. Once these strategies have been implemented, there will be no need to worry about how you’re going to pay the next bill. You’ll finally have the money to live the life that you’ve dreamed of.

It just requires determination, persistence, creativity, and an open mind to make your business successful. Test different strategies and stick to the ones that work best for you. Your efforts will be worth it once you see those increased profits.


Dr. Teresa R. Martin, Esq.

Dr. Teresa R. Martin, Esq. is the founder of Real Estate Investors Association of NYC (REIA NYC). REIA NYC (www.reianyc.org) is a premier real estate investment association serving the New York City marketplace. Its primary focus and mission is “helping our members build, preserve, and harvest multi-generational wealth” in the areas of real estate investments, business ownership and personal development.

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Working With Motivated Sellers in the Spanish Speaking Market – Even if You Don’t Speak Spanish

By Kathy Kennebrook “The Marketing Magic Lady”

One of the things I discovered early on in my business as a real estate investor is that there are many ways to reach all kinds of motivated sellers. The main technique I like to use to reach specific sellers in my market is by using a targeted approach, which for me is direct mail. We do add to the mix other types of marketing tools including business cards, signage, bus benches, ads, bird dogs and flyers to name a few.

I also discovered that there is another segment of the market in addition to English speaking sellers with folks who have homes they need to sell for all kinds of reasons. The market segment I am referring to is the Spanish speaking seller.

The obstacle I ran into was that many of these folks don’t speak any English and I don’t speak any Spanish. So I needed to develop a system to market to these folks effectively since they have the same problems every other seller has.

Many of my students were also contacting me to find out how they too could use direct mail and other types of marketing techniques to reach the Spanish speaking sellers in their areas. They are finding, as am I that these folks have homes they need to sell for a variety of reasons and no one is tapping into this market. Part of the reason for that is the difficulty caused by not speaking the language and not being able to be understood. I found the way to solve that problem for these sellers and for myself as the investor.

I had all of my marketing pieces including my direct mail campaigns for finding motivated sellers translated into Spanish. It was a huge undertaking but it was well worth the effort. The first thing I had to do was to address all of the dialect differences in the Spanish language.

I then sent these letters to the specific market areas where I wanted to buy houses. I sent them out written in English on one side and Spanish on the other. I also had all of my other marketing tools translated into Spanish as well such as signage, ads, lumpy mail pieces, business cards, and flyers which were also causing an influx of leads into our pipeline. Not only that, I even had my tenant referral program materials translated to Spanish since we have a lot of Spanish speaking tenants.

One of the things I discovered very quickly was that while I was getting a lot of response from the Spanish speaking market, I was unable to process the deals due to the language barrier. I solved this problem in two different ways. The first was to send the calls to a 24 hour recorded message which I had recorded in Spanish. I used a professional translator to do this for me so that the grammar, the dialect and the language are correct.

The second way I solved this dilemma was to use a Spanish answering service to take the calls and translate the responses into English so I could read them. We provided the telephone scripts for them to use. I have them both in English and in Spanish so I can provide these to the answering service in whatever format they want it.

You can do the same thing. You can take your own telephone script, give it a bi-lingual answering service, have them ask the questions in Spanish and then translate the responses for you in English so you can read them.  This gives the seller two different ways to contact us, depending on what was the most convenient and comfortable for them. I also provide these potential sellers with a response mechanism at the bottom of the letter I use so they can mail, e-mail or fax their responses to us as well.  The more ways you give a seller to contact you, the more of them are going to.

I then use an interpreter who meets with me and the seller so I can put the deals together. We meet at a location that works for all involved. The interpreters are very reasonable in their fees for their services and they are easy to locate. I found one in the yellow pages listed under “interpreters”. Do try to find someone who specializes in real estate. This makes the whole process a lot easier. By putting a system in place to deal with this market, we were able to do a lot of deals, make money and solve these seller’s problems.

The other method you can employ is to use a Spanish speaking Realtor to help you with your deals and act as an interpreter, and then pay them a fee for doing this for you. If you already have a Realtor on your team performing a variety of services for you, this shouldn’t be difficult to do. I would suggest paying the Realtor a fee separate from their Realtor commission. This is just another way to find a reliable person to act as an interpreter for you when you need to structure these deals.

If you are using hard money or private money to fund your deals, or you are getting the deed, you will be closing these properties with a title agent or real estate attorney. Almost every title agency in the country is bi-lingual. If yours isn’t find one that is. This is a very profitable part of the market that none of your competitors are going after because they simply don’t know how.

Once you get past the language barrier, there are lots of great deals to be made within this marketplace and with these sellers. Remember, these sellers have the same problems everyone else does when it comes to needing to sell a property. You can set up a system in your business that will bring you many deals from the Spanish speaking market.

In my system, Marketing Magic-Spanish Upgrade, I have all of my marketing pieces, both in English and in Spanish for you on CD Rom and I show you exactly how to set up an automated system to reach this marketplace and process these deals. I have basically done all the work for you so all you have to do is get busy and find some properties to purchase with no competition from anyone else.

Be sure and check out my website at www.marketingmagiclady.com for more information on how to find all the Spanish speaking sellers you need for your real estate investing business. While you are there be sure and sign up for my free monthly newsletter and receive an additional $149.00 in FREE marketing tools for your real estate investing business.


Kathy Kennebrook

Kathy Kennebrook is the ultimate success story. She spent over 20 years in the banking industry before discovering the world of real estate. After attending some real estate seminars this 4 foot 11 mother of two got really excited and before you know it she’d bought and sold hundreds of properties using none of her own money or credit.

Kathy holds a degree in finance and has co-authored the books- The Venus Approach to Real Estate Investing, Walking With the Wise Real Estate Investor, and Walking With the Wise Entrepreneur which also includes real estate experts Suze Orman, Robert Kiyosaki, and Dr. Wayne Dyer.

She is the nation’s leading expert at finding highly qualified, motivated sellers, buyers and lenders using many types of direct mail marketing. She is known throughout the United States and Canada as the Marketing Magic Lady. She has put together a simple step-by-step system that anyone can follow to duplicate her success.

Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand, Dr. Phil, Dan Kennedy, Mark Victor Hansen, Ted Thomas and Suze Orman to name a few.

Kathy is going to share with you how she generates a seven figure income by mailing a handful of letters throughout the year to highly selected targets by knowing exactly what to send them, who to send them to and exactly how to deliver her message. She will teach you the secrets of pre-screening and automating your marketing and follow up systems to put your entire Real Estate business on auto-pilot.

 

feedback

Yikes! My Marketing isn’t Working!

By Sharon Vornholt

My marketing isn’t working is a statement that I hear just about every week. When I start to ask people about their branding, I always get the same surprised look. Then that person usually says something like, “I’ll worry about branding when my marketing is on track”.

I have to tell you, that’s not how it works.  Branding and marketing go hand in hand, and you need to be working on both things simultaneously. Think of it this way:

Marketing is how you get leads.  Branding is what makes them choose YOU.

Really think about that for a minute.  You’ve just dropped a chunk of cash sending out direct mail campaigns that are pretty much getting you zero results.  One of the main reasons for that is most likely because you have completely neglected to build a brand. There are also a couple of other reasons what we will go over in a minute.

Taking Stock

When your marketing isn’t working, the first step is to take stock of everything you are doing. What are all of your marketing activities?  List them all out.

  • They might include:
  • Direct mail
  • Bandit signs
  • Networking
  • Websites (you must have a website)
  • Craig’s list, Zillow etc.
  • Calling expired listing
  • Or anyone of a dozen other strategies

Then, ask yourself these 3 questions.

  1. Am I marketing consistently?
  2. Am I targeting the right group of people?
  3. What is it I should be doing that I’m not doing? (You know what that is.) No judgement here, but you do have to own where you are to get where you want to go.

Once you have listed out all your marketing activities, be honest and list the exact frequency of those marketing activities. List everything you are doing whether it is daily, weekly, monthly or some other frequency.

If you have big gaps in your frequency, I can almost promise you that’s one of the problems. Marketing cannot be a hit or miss thing. Consistency is one of the keys to generating a steady stream of leads.

The Next Piece of the Puzzle: Building Your Brand

So what exactly is branding?

There’s no doubt that the physical components of a brand are important. Those are things like logos, brand colors and other things that make up the “look” of your brand.  But that’s not what branding really is.

Branding is the way people feel about you. Another way to say it is, “It’s what people say about you when you leave the room”.  That my friend is why you need to build a brand, and you need to be the one in charge of doing that.

If you don’t consciously build your brand and the way you want to be perceived to your potential clients, one of two things will happen: 

  1. Someone else will do it for you. Many times this happens by folks saying negative things about you. They will be in charge of what they want other people to think about you. The way you combat this is by building your own online reputation.
  2. Or you will simply be invisible in your niche which is the kiss of death.

What Has Changed?

For those of us that were around before the internet (I know, it’s hard to believe we grew up without it), only the big companies like Coca Cola had to worry a lot about branding.  The local heating and air-conditioning company could run a few local ads, give great customer service and stay in business.

That’s not true anymore.  When your marketing isn’t working, your failure to build a strong brand is almost always part of the problem.

Whether or not you intend to have a global brand, because of the internet you can be found by everyone. It’s no longer optional to build a brand for your business.  In most cases, you will be the brand in our business.

Remember, that all your marketing has to touch people in some way that makes them take action. Whether that is to call you, to fill out a form on your website or take some other action, once they have found you, what exactly is it that they will find?

You need to ask yourself these questions:

  • What makes you special?
  • How have you branded yourself so that you are memorable?
  • What makes people think you are the authority in your field?
  • The big questions is why should they choose YOU? What makes you different than your competitors?

You must be able to answer these questions before you can really build a brand that stands out from all the rest. Remember that marketing is how you get leads, and your branding is why they choose YOU.

Where Does Branding Count?

Everywhere!

It counts everywhere people have contact with you whether that’s on your website, social media, on your marketing pieces or even in the way present yourself when you’re networking. Your goal should be to build a consistent presence both online and offline.

Here’s a little exercise for you.  Google yourself and see what comes up. Having nothing come up can be as bad as having something negative come up.

How Do You Build a Rock Solid Brand?

You can do that many ways. However one of the best ways is through content marketing. and I’m going to talk about that in my next article.  I want you to be clear on one thing; you don’t have to write a single article to create great content. There are other ways to create content and that’s what I will go over next time.

I also have a free “Brand Assessment Guide” that you can get over on my blog.  So be sure to stop by the Louisville Gals Real Estate Blog and get your free copy. It’s a great way to see where you are now, and what steps you can take to create a brand that leaves your competition in the dust.

Author:  Sharon Vornholt

Louisville Gals Real Estate Blog

network

Connect, Invest and Retire Rich

By Anita Cooper

For most investors, it starts with the dream.

You know the one…financial (and time) independence through investing in property?

While real estate is a fantastic wealth creation vehicle, you’ll be spinning your wheels a lot if you don’t have the right connections in place to get things done.

Yes, in real estate, success often depends on who…not just what…you know!

Everyone tells you that it’s important to build a team when investing in property, and that’s true, definitely.

But wouldn’t it be easier if you simply had a single contact instead? Someone who could “connect the dots” between what you need and who can help meet that need?

Meet Holly Lynn of Bay Area Multi-Family Meetup. She’s that “someone” who can help you make the connections you need to build your wealth.

“My database is global. I know 20 people for every 1 subject, so when people contact me, I can connect them with the right person for their needs.”

Holly works with a variety of investors, everyone from individual investors to groups of investors, helping them obtain the finance they need to get the results they want.

Specifically, investors can look to Holly for their private lending needs, and for opportunities to build their team by attending networking events such as at her famous mixers.

“The feedback I’ve been getting from investors is amazing,” says Holly. “We offer loads of information that helps investors grow their knowledge. I’ve also been able to connect investors with people who help them get fantastic results!”

Your network begins here

Often, you’ll meet someone who is amazing in the real estate industry but is an average, or sometimes even less than average networker.

Holly, however, is one of those rare individuals who is a rockstar at networking, and a whiz at real estate…a powerful combination for any investor looking to grow their portfolio.

Why does she do what she does?

“I am passionate about helping people take back their time. Look, I haven’t worked a retail job since I was 19 – I want others to have the same opportunity.”

Face to face connections

Holly Lynn is all about making connections.

But it’s not just what she does…it’s who she is, and when someone has that level of passion they love to share it with others every chance they get.

One of the most popular, and effective networking avenues is to face to face…even in this modern, social media age.

So to help investors, each month Holly offers a mixer where she serves as a bridge helping investors connect with people they need for their investments and deals.

Social media connections

Holly’s social media accounts are ablaze with activity too – people share what they’ve been able to do, the goals they’ve reached and the connections they’ve made.

“Social influence is definitely me. That’s how I connect people. I make calls constantly to get to know people, then I connect the dots. I know who is looking for what, so I make the connection, get them together and enjoy watching the results!”

Her reputation is seen in the lives changed…

Holly Lynn is a personable and well connected real estate investor and professional that brings deals together for a win win outcome.” – B. Sharma, Investor

“If you’ve been waiting for an opportunity, maybe this is it

As “The Real Estate Investor’s Lawyer” I have spoken in front of many real estate investor clubs.  Holly’s investor club had some of the highest quality attendees I have ever seen. 

They are engaged, experienced and actually doing deals and/or seriously interested in doing deals.  I give her a lot of credit for attracting that high quality of real estate professional. 

I have also had the privilege and pleasure of representing Holly and have been very impressed with her and her real estate investing activities.

They say that opportunity never knocks twice. There’s even a parable of how opportunity is a bald man with a long beard. You can only grab him when he’s in front of you and you can’t get him back once he passes you. If you’ve been waiting for an opportunity, maybe this is it. – J. Lerman, Litigator

 

effectivemarketing

How to Create More Effective Marketing

By Sharon Vornholt

Today we’re going to talk about how to create more effective marketing for your business.

First of All…

It’s important to understand that hardly anyone sits down and reads an entire article without skimming it first.  People today are skimmers.

This means you only have a short time to grab their attention and every word matters.  That’s why it’s more important than ever that you spend time learning how to create effective marketing; marketing that gets you the results you want with the fewest words necessary.

#2 Get to the Point Quickly

When someone gets a marketing piece from you, it should be something they can consume quickly.  They should know immediately “what’s in it for them”.  What problem can you solve for them now? The days of folks reading a lengthy letter telling them how great you are, are long gone.  You will have time to tell your story later if you hook them with an effective marketing message.

This is one reason postcards work so well.  There is nothing to open. They see how you can help them immediately: “I will buy your house as is, pay all cash, and close quickly”. That says it all.  It’s short and it’s much more effective marketing.

Take a look at all your marketing and see if there are ways you can simply your message. Do you have words that really don’t need to be there to get your message across?  If so, take them out.

#3 Don’t Confuse Sellers with Too Many Options

When presented with multiple options upfront, this can be overwhelming for many people. What you will find is that when there are too many options people simply can’t choose. They will just move on to a simpler solution AKA your competition.

Have you ever come upon someone marketing a physical product that has a dozen of choices, versions, scents, colors etc.?  When faced with this decision you are likely to go to the next simpler option which is another product or company.

#4 Have a Clear CTA

Your marketing should have one clear CTA (call to action) like:

“Contact us today ….”  

  • For your fast, no obligation offer
  • To see how we can buy your house this week
  • To find out how you can have cash in hand by this time next week
  • And learn how you can be rid of that worry today! (Think pre-foreclosure, job loss, etc.)
  • To find out how you can be rid of that problem property this week.

The goal of your call to action should be to get them to take the next step which should be to contact you.

It doesn’t matter if they are looking at a letter, a postcard, your website or a video.  The desired result is the same.

#5 It’s all about the Presentation

The way you deliver your content is important.  Remember, people want fast information.  This is pretty easy to accomplish with postcards. The message is short by nature.

It takes some practice to write short, concise, direct mail letters, but it’s important that you learn to do this.  You have to tell sellers exactly how you can solve their problem, and tell them what to do next.

#6 What about Your Website? 

Your first paragraph of each page should accomplish the same thing as your other marketing pieces. Don’t assume they are going spend time going over your website and all the options you offer. They just want to know what to do next to solve their problem.

This means that the placement of your contact form is critical. It should always be located above the fold (on the top half of the page).

If your CTA is “contact us so we can buy your house”, providing them with multiple ways to contact you is important. I can tell you this; they aren’t going to search for your contact information so make it easy for them to contact you. This is one case where you want them to have a choice. Not everyone will want to call you, and some people won’t be comfortable filling out an online form.

Give them options.  Contact us:

  • By phone
  • Fill out the convenient form on the right side of the page
  • Email me at myemail@gmail.com.

#7 Using Social Media to Help You Create Effective Marketing Strategies

Social media is great for helping you get the word out about your business, your services and your products. The fact that you can share everything to such a large audience (generally for free) can’t be beat.

You spend a lot of time to create effective marketing, but it’s of no value unless people know about it.  Set up social media profiles on the major social networks.  Once that is done, you can share information easily which will start to build your brand.

#8 Final Tips

Here are some tips for connecting with your ideal customer.

  • Speak their language. Make your message simple to understand.
  • Tell them exactly how you can help solve their problem.
  • The best marketing connects with the customer, and it makes it clear that it’s “all about them”. Words matter.
  • Limit your ideal customer’s options. Effective marketing will always have a clear call to action and make it easy for them to say yes to your offer.
  • Offer a bonus for working with you. What might that be?  Find out what they need.  Ask them! There is always something else they want or need. It can be things like moving money, an offer to finish cleaning out the house, paying expenses they cannot afford to pay. To be clear, these “bonuses” are always accounted for in your offer.  Think outside the box and get creative. The best bonus is the one they tell you they need.  Having a happy customer AKA buyer or seller is just about the most effective marketing on the plant.
  • Always send them a thank you note after you’ve looked at their property. This is one tip that will definitely make you stand out as an investor.

Once You Have Closed the Deal…

As for a testimonial. This makes all your marketing even more effective.

Happy investing!


Sharon Vornholt

Sharon Vornholt is the owner of Innovative Property Solutions, LLC in Louisville, KY.

Sharon owned and operated a successful home inspection company for 17 years. She began investing in real estate in 1998 and became a full time real estate investor in January of 2008.

Sharon specializes in wholesaling, and is also an experienced landlord and rehabber.

In addition, Sharon is an internet marketer and also writes articles for several national real estate sites. Sharon is the author of a popular real estate blog called the “Louisville Gals Real Estate Blog”. For your FREE REPORT “Probates and Absentee Owners: Your Fast Track to Real Estate Riches”, stop by her blog at: http://LouisvilleGalsRealEstateBlog.com.

 

uncoveringthesecrets

Uncovering the Secrets of Marketing To Motivated Sellers

By Kathy Kennebrook, The Marketing Magic Lady

Several years ago, I attended my first real estate seminar and decided this was the business for me. I could do it in my own time and at my own pace and make great money. Considering I was still working a full time job at the time, this seemed to be just the scenario I was looking for. One of the things they taught us in those seminars was that finding truly motivated sellers was going to be the cornerstone to this business because without motivated sellers there simply are no deals to be made.

After spending a number of years in sales prior to becoming a real estate entrepreneur, I knew that when the prospect contacts you first, you have a much better chance of making a good deal. At the time I didn’t have a lot of money to work with and needed to make every marketing dollar count.

I discovered the same theory applied to working with motivated sellers. A motivated seller is the key to all good deals, and if they contact you first, this significantly increases your opportunity to make a profitable deal. There are lots of opportunities for those who want to find sellers, and some are more labor intensive and time consuming than others. Learning to influence motivated sellers to contact you first will increase your profits immensely, help you make better deals and most importantly save you valuable time.

One of the primary reasons for failure in this business is trying to create a deal with unmotivated sellers. It’s like trying to push a rock uphill. You spend all your time chasing dead end leads and getting nowhere. This is discouraging and can cause you to quit the business altogether before you ever get to see the long term benefits it can bring you.

Locating the truly motivated sellers is the key to your success as a real estate investor. Your money is made at the point at which you purchase the property, so an effective marketing plan is essential to your business in order to create profitable deals. The key point to remember is that most sellers are not motivated. The biggest mistake you can make is to try to make a deal with someone who doesn’t want to sell to you.

Effective marketing is the process of delivering your specific message to a targeted audience through the use of various types of media. Using this method enables you to find the sellers who really need to sell, as opposed to those who just want to sell. When you find the sellers who really need to sell, you’ll end up buying a lot more houses at much better prices and terms. The secret to the really great deals is to find them before anyone else even knows about them.

A lot of the deals you should be finding won’t even be actively marketed. These sellers have a variety of problems they simply don’t know how to solve. Their motivation comes in a lot of forms. Some of the reasons motivated sellers need to sell have to do with the sellers themselves, such as  age, health problems, financial difficulties, change in marital status, liens and judgments, job transfers, landlords who are tired of having their properties abused, or change in family size just to name a few. Other reasons are more directly related to the property itself, such as estates, properties needing extensive repairs, code enforcement violations or properties that have been vacant for a significant period of time.

So how are you going to find these sellers and how should you market to them? As a real estate investor, you have lots of choices. You can use classified ads, flyers, the internet, signage, websites, business cards, billboards, radio and TV ads and direct mail.

You should pick at least three to five ways to market your business. Put them to work for you simultaneously in order to promote your business and draw as many different sellers to you within your market. You must begin to understand a seller’s motivation for selling a property in the first place. This is going to be important for you because if you try and reach sellers in only one way, and you don’t find a property in a relatively short period of time, you may become discouraged and quit. You really don’t want to do this, trust me. There is more business out there than you can imagine! Accept the fact that you’ll need to do more than lay some flyers and hope some motivated sellers call you.

One of the first things you need to do is to identify your market, deciding where you want to buy and what types of properties interest you. Then develop a marketing plan that fits your personal needs and budget. This way, you eliminate the need to call sellers; you want them to call you first.

Marketing is a numbers game, the more leads come in, the more opportunities you have to make deals. You won’t buy every deal that comes your way, but when you develop a machine that you can control that brings in quality leads, you’ll be able to pick and choose the kinds of deals you want to do. As a real estate investor, you need to find a seller who is either flexible on the price of the property or on the terms of the sale. If a seller wants full price and all cash for a property, it’s almost impossible for you as the investor to make a good deal. The investor who wants to help people and make money should be looking for a seller who is flexible on the terms of the sale. Many of the people I send direct mail to practically beg me to take their properties off their hands for a variety of reasons. These are the kinds of motivated sellers you want to be dealing with.

The best way that I’ve found to “niche” market to motivated sellers and control the number of leads coming in is through the use of direct mail. The BIG secret to doing direct mail successfully is mailing the right letter to the right list and then mailing to them over and over. As you will discover, given time, almost every potential seller’s circumstances change and make them more motivated to sell. You must let the world know you buy real estate. The best thing about direct mail is that you can specifically target the types of sellers you want to reach and cultivate quality leads to work from.

I also find these mailings are very residual. These potential sellers will hold onto your direct mail pieces until their circumstances dictate that they contact you. When they are ready to sell, they will contact you first, since they probably haven’t had any contact from anyone else. Usually their properties aren’t even being actively marketed, therefore there is no competition for these deals. In the meantime, you’ve gained credibility with these sellers by doing repetitive mailings.

The biggest part of the secret is to find the sellers who really want to sell. I use different direct mail campaigns to locate different types of motivated sellers, such as out of state owners, properties which have been quit claimed from one person to another, expired listings, burned out landlords, and pre-foreclosures, just to name a few. The best part is that you can customize your marketing to reach exactly the kind of motivated sellers you want to deal with. This can best be done by locating mailing lists and refining them to meet your individual criteria and then mailing to them again and again.  Investors often neglect to market to sellers in this way because they think the list is just too difficult to get or they only do the mailings once and quit.

Let me tell you, these are some of the easiest lists for you to get and it will be very profitable to you to do so. You can go to a list broker or your local property appraisers’ office and ask them for a list, or you can create the lists yourself. It’s fairly easy to do. You can go to the courthouse and research the divorce cases, death notices, liens and judgments, tax liens, marriage licenses, bankruptcies and notices of default, which is the first step toward foreclosure.

Another way to find motivated sellers is to cultivate relationships with individuals who can help you find deals. One of the ways to do this is to write letters to attorneys who handle family law, estate planning and probate law, divorce and marital law, and corporation and business law and let them know you are in the business of buying houses. Once you develop relationships with these attorneys, they will call you when they have a client who needs to sell a property quickly. This is just another way to build another lead source using direct mail.

Another way to find motivated sellers is to write letters to the owners of vacant houses or houses that look like they need a lot of repairs. If you can find the owners of vacant houses, these are usually deals waiting to be made. The harder the owner is to find, the better deal you will make. There are lots of ways to find the owners of vacant houses, the easiest of which is to simply use a skip tracer to locate them for you.

You can also work with realtors who can give you expired listings. The longer a house sits without selling, the more motivated the seller will be. If you get expired listings for out of state owners, these sellers are usually even more motivated. You can often make a deal with a realtor who will supply you with the list. Tell them you will use them to make the offers for you, or simply tell them you’ll pay them a fee for their services.     

Mail these potential sellers a personal looking and sounding letter. Let them know that you are interested in helping them find a solution to their problem. Even if you don’t get a response right away, repeat your mailings at least every thirty days until you do get a response.

The main reason that direct mail works so well is that you are reaching targeted sellers, and you become the seller’s first option when they need to sell. Even if you are on a limited budget, direct mail is an excellent source of leads for you since you can buy more houses from fewer leads, thus maximizing your marketing dollars. As your business grows, you can increase the amount of mailings you do. You can also target specific neighborhoods or dominate certain parts of town. In doing so, you become a “property value expert” in those areas, which makes the offer making process that much easier for you.

In addition, you create an ongoing relationship with your target market which makes it easy for you to follow up with past inflexible or unmotivated sellers. Because these mailings are so targeted and so residual, there is virtually no competition for these properties, and it puts your lead generating system on auto-pilot, leaving you more time to make offers.

The most important thing to remember is to be consistent in all your efforts. The successful real estate investor has a network of people and strategies at their fingertips at all times. If you don’t develop continuity to your marketing campaigns, you’ll see your results begin to drop off immediately.

When you learn to get motivated sellers contacting you and then learn a variety of ways to purchase properties, the possibilities become almost endless. If you use several different ways to get motivated sellers contacting you, you will have more opportunities than you’ll be able to handle.

Using direct mail to develop a “cookie cutter” system to accomplish this is one of the most affordable, reliable, and effective ways I know to build your business quickly and have all the deals you will ever need.

For more information on finding all the deals you need for your real estate investing business be sure and check out my website at www.marketingmagiclady.com. While you are there be sure and sign up for my FREE monthly newsletter!


Kathy Kennebrook

Kathy Kennebrook is the ultimate success story. She spent over 20 years in the banking industry before discovering the world of real estate. After attending some real estate seminars this 4 foot 11 mother of two got really excited and before you know it she’d bought and sold hundreds of properties using none of her own money or credit.

Kathy holds a degree in finance and has co-authored the books- The Venus Approach to Real Estate Investing, Walking With the Wise Real Estate Investor, and Walking With the Wise Entrepreneur which also includes real estate experts Suze Orman, Robert Kiyosaki, and Dr. Wayne Dyer.

She is the nation’s leading expert at finding highly qualified, motivated sellers, buyers and lenders using many types of direct mail marketing. She is known throughout the United States and Canada as the Marketing Magic Lady. She has put together a simple step-by-step system that anyone can follow to duplicate her success.

Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand, Dr. Phil, Dan Kennedy, Mark Victor Hansen, Ted Thomas and Suze Orman to name a few.

Kathy is going to share with you how she generates a seven figure income by mailing a handful of letters throughout the year to highly selected targets by knowing exactly what to send them, who to send them to and exactly how to deliver her message. She will teach you the secrets of pre-screening and automating your marketing and follow up systems to put your entire Real Estate business on auto-pilot.