BLAIR HALVER

BLAIR HALVER

Shift #2: Don’t EVER hunt or chase deals. Let the deals come to YOU.
(If you're just tuning in and you haven't read the previous parts of this series, you can head back to the start here.)

Blair Halver

Jan 25, 2020
I don’t know, maybe you’re already doing this, but I doubt you’re taking it to the level you need to.

You see, there are basically two ways you can get deals -

Brute force or magnetism.

Brute force is what most investors do.

Cold calling, direct mail, door knocking, networking, making offers, calling realtors, etc etc.

It’s like pushing a wet string up a hill with your nose.

Imagine spending weeks and months walking through every single neighborhood in your target market and knocking on every single door and asking the owner, “would you like to sell your house? Let me make an offer to you.”

Sounds ridiculous, right?

Even if you only knocked on the doors of home-owners you’ve identified as possibly being “motivated”, it’s still relying on your 1:1 efforts.

This is the essence of “outbound marketing”.

There is very little leverage in that, or no leverage at all — even with direct mail, which I know some of you are thinking is leveraged (it is, but only slightly).

The opposite of brute force is magnetism.

Magnetism is when you engineer systems that run without you to attract and disqualify home seller leads all on their own.

This generally involves letting the world know what you do, and letting them respond by raising their hand and saying, “I’m interested in doing business with you, let’s talk.”

This is the essence of “inbound marketing”.

And you can accomplish this on as little as a $2,500/mo marketing spend.

Let me ask you, would you spend $2,500 on marketing to get a couple deals worth $10k each?  

Shoot, I'd spend $2,500 to get just ONE deal worth $10k profit, wouldn't you? 

If every time you give me a $1 bill and I give you $5 back, how many dollar bills would you give me?

As many as friggin' possible, right?

Marketing is my favorite kind of investment because it has the highest returns I've ever seen... if you know what you're doing. 

Now, so far, nothing too earth-shattering here. This is just inbound vs. outbound marketing.

But let’s take it a step further.

When a home-seller responds to one of your marketing messages or ads, most investors and wholesalers say, “ok let me put some numbers together and make you an offer and we’ll see if you want to accept it or not.”

If you’re truly using magnetism instead of brute force, this is totally backwards.

Instead of making offers to sellers, let the seller make the offer to YOU, and then you tell him whether or not you’re going to accept or not.

Seriously.

This is called a “Reverse Offer” strategy.

Because the easiest way to get numbers on a deal that work for you, is by politely and subtly letting the seller know that you’re ready to walk if he doesn’t give you a number you like.

You’ve probably read the book Never Split The Difference by now. If you haven’t, I highly recommend it.

The big takeaway from that book for me was this:

"Negotiation is the art of letting the other person have your way."

In other words, whatever numbers you and the seller arrive at, the seller has to think that it’s THEIR idea.

So how do you do this?

By asking the right questions, in the right way, in the right order.

Another thing my mentor, Ron, taught me was, “What comes out of your mouth determines what goes into your bank account.” (Write that one down.)

If you go verbal diarrhea and start asking the seller if he’d take $X for his property, or if he’d do this or that, you have killed the deal because you are essentially BEGGING.

"Begging" is probably the single biggest deal killer of them all.

And you won’t even know when you’re doing it.

If you’re saying a number first, or you’re explaining or teaching the seller something, or you’re asking if they’ll do this or that, you are begging. Period.

Instead, we simply ask the seller, what’s the least you’d take for the property? Is that the best you can do? So you’re saying if I don’t pay you that amount, you’d rather not sell to me?

Or if it’s a seller finance deal, what’s the least you could take on the monthly payment? Is that the best you can do? So you’re saying if I don’t pay you that amount, you’d rather not sell?

Are you starting to see a pattern here?

Of course there’s a little more to it than that, but I think you get the gist.

We ask questions to get the seller to make an offer to us, and we tell the seller yes or no whether that’s going to work for us or not.

We don’t come back with counter offers.

We just tell the seller we can’t do it, and let them negotiate against themselves, right there on the phone.

In other words, we basically force the seller to make an offer to us, instead of us playing the game their way and having us make an offer to them.

You have to remember — YOU are the one who’s doing a huge favor for THEM.

They’re the ones with the problem.

You’re the one with the solution.

You need to engineer your entire business to utilize what I call the “White Coat Effect”.

They are the patient with stage 4 cancer coming to you for help.

You are the doctor with the miracle drug that can save their life.

Why on earth would you put up with any crap from them, or play the game their way?

Now that doesn’t mean you shouldn’t have a good bedside manner. There’s no benefit to getting argumentative or rude.

But that doesn’t mean we have to cow-tow to how they want the deal to go.

For example: we don’t write up the actual purchase agreement until we know it’s going to be accepted — I’m too lazy to do a bunch of paperwork for no good reason.

We don’t put more than $10 earnest money down on ANY deal so we’re not putting anything at risk to help them out.

We don’t put any less than 90 days to close so we’re not operating against short deadlines.

We are the ones in charge from start to finish.

Is this starting to make sense now?

If so, then let’s move on to Shift #3...

Written By
Blair Halver

The lifestyle real estate investor, famous for creating highly profitable house-flipping businesses without having to hustle 24/7. 
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