Is it really possible to put a property under contract and close a deal in 30 days? The quick answer…YES! Why am I so confident in my answer? Because I did it. I must admit though, there is a catch!
The catch is that I was in real estate trying to close my first deal for about 2 years before closing 2 deals that netted me close to $10,000 in 30 days. Want to know how I did it? In a nutshell, here is the plan so that you can go out there and do the same thing so you can put a property under contract to close a deal in the next 30 days.
1- An Organized Plan
Sure, there a ton of people on Facebook and Youtube who brag about how they only did 2 hours worth of work in order to close their first deal for this insane amount of profit, but I hate to break it to you. THAT DOESN’T HAPPEN TO EVERYONE!
There is no trick to a get-rich-quick plan when it comes to any type of business. If you strike gold quick, there is something called luck that may be involved. For people like myself, I’ve always had to work hard to get simple results.
Part of closing the 2 deals back-to-back that I said netted me close to $10,000 didn’t happen overnight. I had to develop a plan, AND I had to stick to it! I lacked consistency in my real estate business. At the time, I was working with Jamel Gibbs of the REI Education Academy. This was my last chance effort to close a deal, or else I was going to quit. I was on a call with Jamel, and he listened to all of these different methods I was trying to implement, and then finally he said “STOP.”
I paused on the phone to hear what he had to say. I didn’t know if he was going to reach through the phone and give me a spanking or something. He then proceeded to tell me, “you’re doing too many things right now. Let’s do one thing and stick with it for 30 days”. That made me anxious but it was also a huge relief to hear that those words through the phone.
I chose to stick with bandit signs for 30 days, and that’s what I did! 2 weeks in, I got a phone call, and I put my first house under contract! I couldn’t believe it! This would not have been possible if I didn’t put together a plan of going out once each weekend, putting out 50 signs and leaving them out there. I wasn’t going to try anything else. I was sticking with the gameplan.
What I couldn’t do in 2 years, I did in 2 weeks because I created a plan with Jamel Gibbs, and I stuck with it.
2- A Marketing Budget
I don’t care what people say, you have to spend money in order to make money. I hate to be the messenger of bad news, but it is true. Free methods do work…don’t get me wrong. I’m not saying to put down all of the free methods, but if you have the money, spend it! Don’t waste all of this time trying to save $50 on something when you could’ve already spent it in order to get the results 2 weeks ago! Give yourself a REAL chance to put a house under contract to close a deal in 30 days.
Like monthly bills, you should have a certain amount set aside for your business marketing. I recommend that you put aside at least $300 a month. Yes, this is not a small number, but it is not huge either. If you don’t have the money, there are plenty of things you can sale, or little side jobs you can do to make that investment money. It’s essential to you obtaining the freedom that you desire.
You have to spend at least $300 to get a consistent flow of leads so that you can make offers on a house. $300 will get you at least 250 yellow letters for your direct mail campaign, or it will get you 100 bandit signs. I personally LOVE the bandit signs more, but depending on your market, yellow letters may also work best. If you pick these methods and do them for 3 months, you give yourself a darn-good chance of making some good money by closing a deal. I can almost guarantee that.
If you have $500-$600 a month, you can do more damage. The real damage is when you can do $1000 a month for marketing. Now you’re really talking my numbers here:)
Be realistic! Set some money aside. Pick up another part time job or a side job. You may say that you don’t want to work another job, or its too much of a a sacrifice, but trust me, once you get the money for marketing, and you actually close that first $5,000 or $10,000 deal, the whole world changes! Your business can then survive off itself and you won’t have to hustle for money in side jobs anymore.
Once you do it one time, you will know what is needed to close a deal and you can repeat your marketing and spend less.
3 – Make offers
You cannot close any deals if you’re not making offers. Too often, many investors and realtors shoot themselves in the foot because they say that they can’t find any good deals. It’s not that they can’t find any good deals, they’re simply not making offers!
Everyone knows that this is a numbers game in real estate. If you know that its a numbers game, why are we so scared of making offers. Do your home work, check the comps in the area, make an offer. Whether it is close to what the seller says he or she wants, or not, make the offer! You never know when someone is going to accept!
I once had over 40 leads in my excel sheet and I thought they were all bad leads. So I personally went down the list and called each person one by one to see if they still had the properties that I originally called them about so I can make offers.
I came across one person and he was still trying to get ride of the property that I called him about. I give him an offer and he didn’t like it. However, he had some other properties that he wanted to get rid of and this worked out a whole lot better.
Within that week, I put his 3 properties under contract for $100,000. They all had tenants that brought in at least $1000 per house! That’s $3000 per month! Imagine what would’ve happened if I didn’t make that original offer on his first property.
Conclusion
Success is not by accident. Some of the details involved in a success story may happen by accident, but the idea itself is something that has to be acted upon. Results are a consequence of working that idea. In this case, learning how to close a deal in 30 days is very attainable. If you’re not making money in your real estate business, feel free to contact me via email so we can get you unstuck.
Don’t quit just yet! To close a deal is simple. We make it hard. Organize a gamelplan, stick with it for more than 30 days and give it an honest effort. If you go passed 60 days without getting any positive results, then I give you permissions to try something else. But until you get to that point, keep trying. I’m rooting for ya!
Feel free to join my exclusive Facebook group where you have access to me and we can do some deals >>> https://www.facebook.com/groups/807886725931639
See you in the next blog post!
