There seems to be a trend over the past year around the country where more and more investment property wholesalers are using technology and marketing to present themselves as full fledged companies. No longer the mom and pop shop working from the kitchen table, many wholesalers are trying to step up their game and build real businesses.
Well I am here to tell you, it obviously takes more than technology and marketing to actually deliver on the promises of your business, but you can do it! Behind the scenes of all the slick marketing and hoopla that gets thrown around, has to be the blood and guts of a real business, operating efficiently and driving to deliver. At the same time, there has to be a willingness to gamble - to risk a whole hell of a lot - if you are going to truly make it big.
This business is no longer about making a living and pocketing extra change - for many it has grown into an opportunity to pass something on to the next generation. I am going to let everyone in on a little secret that we at Memphis Invest have figured out...
Build a great team - take great risks - and provide great service! Not exactly a stunning revelation huh. The point is, it's not difficult, you just have to be willing. Take a look at one example from our own company, www.memphisinvest.com and then decide for yourself.
On September 1st of this year, Memphis Invest was gearing up for a live 3 day event in Memphis where a crowd of 75 investors was expected in town. With a budget of close to $15,000 their is a bit of a gamble when producing one of these events. The gamble is that investors will purchase properties that weekend. Our worst event to date produced 17 sales, so we had a pretty good track record.
Now, This is a family owned business and the biggest gambler in the family is my father Kent Clothier, Sr. He wlaked into our planning meeting and announced that in 6 weeks time we would be holding a one day event in New York where he expected the room to be full and us to be prepared to sell 15+ properties.
I'll leave out the boring details and sum it up like this. We had never held an event out of town before, we had never sold houses at any speaking event we attended AND it was entirely on my shoulders to fill the room. Today is November 24th and in the last 10 weeks, not only have we gone to New York, but he threw in an event in Dallas this past weekend as well! So we have had TWO out of town events - not just one!
The budget ballooned to over $20,000 per out of town event. Scary stuff! A real Gamble...
But here is the pay off - 28 houses sold because of those two events. 28 houses in the 4th quarter on top of our weekly sales. 28 houses that we did not have on the books on September 1st. We committed $40,000 with no guarantee of a return and no history of success. Just a plan and a gamble. And that gamble haspaid off big time!
Here is a video from the event last weekend in Dallas...and in case you are wondering. We are San Diego the week after Thanksgiving and have planned 18 trips next year to cities around the country. You read that right - we are traveling to 18 different cities and commiting to meet our clients where they live...taking the opportunity to them and showing what a great company witha great team can do for them. What the hell right - it's only gambling if you don't know the odds...
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