Property Renovations Ely Ltd

Recently there have been a number of articles in the press and on TV recently regarding the Below Market Value property industry and its not all been good news!

Most BMVers are extremely moralistic and honest when dealing with vendors, there are many posotive examples of people being helped out of some precarious situations:

Save someone from having their home repossessed.

Help someone who was stuck in a chain, or who had lost their buyer?

Helped someone to secure their dream home by buying their old house quickly.

etc……

Property Renovations Ely Ltd

In any undertaking it is very important to be able to visualise where you wish to end up (your goal). This goal is essential to your own personal motivation and direction.

For example:

If your major goal is to earn £100,000 per year, then you’ll need to earn approximately £10k per deal (i.e. 10 deals). This will require you do distribute 100,000 messages (via leaflets) to potentional clients. Expect 3-4 call per thousand messages (300-400 calls), which should essentially get the phone to ring daily.

Property Renovations Ely Ltd

Attended the Ipswich PNC last night at the Holiday Inn, where the guest speaker was Vanish Patel the founder of the PNC and very successful organisation builder!

Basic BMV Techniques:

1. Leafleting
2. Newspaper
3. Internet
4. Networking Events

A brief description of each of the techniques will follow just to give you an idea of what you should expect and how to move you organistation forward…

Leafleting
Your successs in the BMV property game starts with getting your message out successfully. This requires good reliable leaflet distributer(s) who will ensure your message gets out continuously and consistantly over time. Is is clear that people get ill go on holidays etc, so to account for this eventuality the more sources you have providing this service the less of an issue it becomes.

• Recruiting - Place a simple ad in your local paper leaflet dropper required, flexible hours, text name and address to 07892 xxxxxxx for appliation form. Form should be sent with a return envelope (no stamp), this gets the prospective volunteer to perform the tasks (not you). Form should not indicate salary, instead questions such as how much do you wish to earn per hour or per thousand leaflets
• Maintaining - Offer benefits of maybe £2 to the volunteer for every call you receive, offering a bonus based on a completed deal is too far in the future, hence there is no real incentive!

Newspaper
This a another option to get your message accross to the potentional client. In this case your competition can easily be on the same level with the use of a credit card and a two minute phone call. With this said it is still a good source of exposure for your coorporation.

• Contact - Place a simple ad in your local paper in the classified section (Property Wanted). Try to build a relationship with the newspaper to make advertising as cheap as possible (i.e. long term deals, late deals etc…)
• Maintaining - Run your ad for a least 6 months to a year continuously!

Internet
This provides a more wide spread exposure (i.e. world wide), so you can obtain leads from anywhere in the country or the world. Therefore it is essential to have a network of investors you can pass remote or unwanted deals onto. Essential in maximising your return for all deals that pass your way.

• Website - Build your website offer free information reports ect (repossession, debt managment etc…)
• Autoresponder - Responses to queries should be automated!

Networking
This is where most of your knowledge contacts and even business will come from in your organistion. The strength of the business is NOT money it IS people!.

• Contact - Visit as many networking events as possible and do not break contacts made!
• Maintaining - MAINTAIN MAINTAIN MAINTAIN YOUR CONTACTS!

Property Renovations Ely Ltd

I guess a lot of newbies are jumping onto the band wagon when it comes to BMV deals… Many could argue this is creating healthy competition in the market. We believe most newbie BMVers just don’t have the knowledge, people skills or system in place to cope with BMV deals. Vendors are now very wary of BMV traders and in some unfortunate circumstances group all investors and bad people with a sole aim of exploiting the position of some poor soul in financial distress.

BMV deals are all around (no matter where you are…). If you are lucky enough to make contact with a potential BMV lead, always remember be fair, be curtious and most important listen to what the vendor has to say!