The 24-Week Challenge: Week 18 - Setting Up Your Mass Offer System
The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through the steps that will get us to the answer.
It’s not difficult, but it does require work and study from you to build your own investing business. This is week 18 of the challenge, and you’ll be learning about Setting Up Your Mass Offer System.
A mass offer system gives you deal flow from multiple deal streams… wholesalers and MLS, for instance. Plus, making offers gets you engaged with a seller.
A seller may not accept your initial offer, but if he counters with a higher price, at least you’re talking. And you’ve spent minimal marketing money to get that engagement.
And what do you do after you make a mass offer and get 4 or 5 deals? You follow up on the offers that didn’t turn into a deal. You’ve already made contact, so follow up with these sellers to get additional deals.
Many new investors are afraid to make offers. But, remember, an offer/contract is only binding on you if all contingencies are fulfilled.
Zack recommends using a letter of intent. You can re-listen to the week 5 podcast to refresh your understanding of how to work with letters of intent and contracts.
“We are not in the hope business. We’re in the do business.” So, take action by making offers to sellers whose properties have been on the market for 90 to 180 days. They are likely to be more than ready to sell.