The Art of the Small Deal with Hal Wilson
A few days ago I wrote a post about avoiding bad real estate gurus.
Last night, while attending REIN, the Nashville real estate investment club, I was privileged to hear a real guru speak to a packed audience.
Not only did he pass all my guru testing, but he did so with flying colors.
Who was he?
Hal Wilson.
What is he known for?
“The Small Deals,” as he describes them.
Hal had been an investor for over 40 years, and has a long distinguished record. What really impressed me was the love the audience had for this man. It was genuine, deep and sincere. Hal had made a lot of friends along the road to financial freedom.
He can also do all of it with his eyes almost closed now. He’s got his systems down, even to the tiniest details.
One big tip: put your phone number on your envelopes to distressed homeowners instead of a return address.
Why?
Because people will often keep the envelope and use it as a scratch pad. Then they’ll fish it out maybe months later and call you. If you have included a return address, they would have already thrown your direct mail piece away. (This is one of the greatest sources of frustration for investors fishing for pre-foreclosures and foreclosures ).
What is Hal’s main goal?
Make an offer every day. Buy one house every week. One year, he bought over 60 properties.
Hal does wholesaling, flipping, foreclosures and buy and hold investing. He will also act as the bank for his own buyers which can be very lucrative.
One of his other specialties is he will buy burn-outs from insurance companies. Frankly, that took me by surprise. I had never thought about that, I’m not too proud to admit. If you want a “neat” rehab deal almost falling into your lap, that is one good way to go.
Here are Hal’s 9 Keys for Success vs. Failure in Real Estate Investing
- Overcome fear
- Avoid negative people.
- Establish a work pattern
- Pay your dues
- Study successful people (do what they do)
- Follow up on all leads (you don’t ever know)
- Join a community club
- Hand out 30 cards a day
- Make an offer a day
Read more about Hal’s investment strategies
Hal also has a tremendously inspiring blog where he talks where he openly discusses his struggle with cancer.
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