crazy thomas rent-to-own training video #2 - marketing your rto business
DESCRIPTION
Crazy Thomas, Thomas Wong, Lease Option Specialist, rent-to-own training video. Video #2 of 4 free training video, marketing for your RTO business.TRANSCRIPT
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Sieze the opportunityMake the World your Osyster
FREE Rent-to-own Training #2Marketing of Your RTO Business
CRAZY THOMAS
Lease Option Specialist
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Who am I?
• Crazy Thomas• Thomas Wong• Your rent-to-own
specialist• A real estate
investor with a process improvement background
• Have done over 30 rent-to-own projects in the last few years
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What did we cover so far?
• In our first video, we covered– The basics of RTO– What is rent-to-own/Lease Option?– Why RTO is good for tenant and
investor?– What are the risks of RTO?– The basics of making money with RTO
projects
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The Rent-to-Own Process
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What do you need for a Rent-to-Own project?
• To put a Rent-to-Own Project together, you need:–A qualified Rent-to-Own tenant
–A good property
–Investor or investors to buy the property
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The “Bag of Tricks” of Crazy Thomas
• Where & how to get Rent-to-Own Tenant?
• Where to find investors?
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Where & How to get Rent-to-Own Tenant
• Advertising: Kijiji, classified ad, signs, landing page/squeeze pages– Tips for Kijiji ads:
• Pictures• Be specific about a property• Drive them to take actions (call NOW)
• Referral, Referral, Referral– Current tenant– Potential tenant– Real Estate agent, Mortgage agent– Hair dresser– Tim Horton, Country Style…
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Basics of Your Marketing Efforts
• Expose your services to many people
• Attract the attention
• Drive them to take actions– Call or email you– Leave their contact information (sign-up
form on landing page/squeeze page)
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Expected Conversion Rate
• 100-10-1 (100 people see your information, 10 people contact you, 1 resulted project)
• A good Kijiji ad can expect about 300 people looking at it in 3 days
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How to convince a potential tenant to work with our RTO program? (The first encounter)
• Focus on establishing a rapport with the client• Clarify their understanding of Rent-to-Own• Gather as much information about them as possible
– Current family situation– Current rental situation– Family gross annual income– Type of houses that they want– How much can they afford (monthly & down)
• Set their expectation (realistic expectation)• Listen carefully and aim at providing them the benefits that
they are looking for• Remember to ask for follow-up contact information and referral
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Where & How to find investors
• Who you know is important; Who knows you is critical
• Networking– Physically attending meeting/events– Social media – Facebook, Twitter, Linkedin– Need to show up. Need to be consistent.– Establish relationship with “Center of influence”
• Referral, Referral, Referral– Current investors– Real Estate agent, Mortgage agent– Hair dresser/cell phone story– Having lunch
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What to do with potential investors?
• Be passionate with your investment strategy
• Establish rapport
• Share the stories of your project
• Tell them enough to generate interest, not enough to make decision. Decisions are for follow-up meetings
• Focus on helping them to understand
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Opportunity to Participate with Crazy Thomas
• Cash investors (get 20% return per year for 1- 3 year terms)
• Mortgage partner (get >50% return per year)• RRSP 2nd Mortgage investor (get 14% interest only
return per year)• Assign contract with confirmed rent-to-own tenant
from Thomas• Ask Thomas to help you to structure your own
deals• Let Thomas mentor you on doing rent-to-own
deals
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The “Bag of Tricks” of Crazy Thomas
• We still have many more tools in our “Bag of Tricks” like how to pull a RTO project together and how to run the project to ensure that we are making money at the end.
• We will cover them in the videos that you will receive next time.