CONTACT

CONTACT WALTER

559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

The gifts of giving with love to others with return to you a hundred fold. Thank you for a new level of life. Terry Murphy, Real Estate Speaker

READ WHAT OTHERS SAY

The Foundation of All Great Lead Generation Systems in Your Database January 19th, 2018 | Posted in General Real Estate, Other Interests, Real Estate

Now that many of you have taken advantage of Walter’s retirement sale. We are going to start going through some of his systems so you can make them work for you. We are going to look at how to successfully use your database for lead generation.

The Foundation of All Great Lead Generation Systems in Your Database
(From: GROW YOUR LEADS: JUST ADD WALTER)
Part 1

One of the benefits of working with Sanford Systems is we try to cause one exertion of energy to have multiple effects and outcomes.  You are not only generating seller leads right now in order to obtain sellers but you are attracting buyers, creating the leverage of cooperative and double-ended transactions.  From the buyers you generate, you can explore unique levels of inventory for them including old expireds, old FSBOs, and past clients in your database, which is tantamount to once again generating seller leads.  However, one of the greatest leverages of this business is as you are generating seller leads, you are meeting people who might not only be buyers and investors but who also might be interested in doing business in the future.  That is where your database comes in!  Soliciting the future leads is an art form.  That is why we are spending a lot of time in the next chapter designing your lead card.  The solicitation of leads and the proper maintenance and follow up to those leads is a major lead generation system in itself.  Therefore, it is important that you understand the system for lead maintenance.

As you are implementing these systems, you are going to be meeting people (hopefully sellers) who want to sell now.  Many will want to achieve their goals now or put off the decision.  Later in the book, we will be reviewing how to overcome all roadblocks in proceeding with a listing presentation.  Some people are very clear that they may be six months to a year (or more) from making a decision, giving you a reason that is compelling and believable.  If that is the case, you need to know how to manage these two sets of clients.  I have broken these groups down into “Listing Leads A” and “Database Leads.”

Listing leads A group is someone who will be listing in the next six months.  They are a product of a non-successful listing presentation or someone who has an obvious need to sell within a six month period.  My listing leads A group definitely goes into my database for the consistent contact ratios that we will review later and I also would send them all of my “Just Sold, Just Listed” and “Other Broker Sold” cards.  Furthermore, I put all listing leads A in a rack in paper files on my desk.  The reason for paper files is because if someone has achieved listing leads A status then there has probably already been information developed on them.  Therefore, as I develop listings leads A, they go into my database for my regular database follow-up; however, listing leads A are segmented and put on my desk for a weekly phone call.  This was one of my time-blocked activities.  The listing leads A group needs to be called once a week.  The only way that I could remember to make those calls was to have a segmented hour or half hour each week.  My time-block happened to be on Thursdays at 1pm.  I know what you are thinking – someone who says they do not want to list for four months probably does not want a phone call each week.  However, how many times have you seen these future leads turn into immediate leads because their reasons have changed?  The challenge is to come up with a new reason to call them each week.  The call might go something like this: “Well, Mr. Johnson, I know that you told me that you will not be ready to list for a few months, but there has been a new sale (sold, expired, withdrawn, cancelled) in your area.  I thought that you might like to know about it since it might help you in your financial pricing.  Also, there have been some other sales (or other activity) in the subdivision near yours that tells me the market is (give market condition).”  By delivering some sort of value your clients will not be bothered by your initiation of service and value each week.

The second category of leads is for everyone over six months who will go into my database as long as I have developed some sort of a relationship for them.  If I have created an “IOU” with someone by giving them information over the phone, sharing a common interest or providing something memorable to them, I will put them into my database with what they owe and what they wanted, coded to MLS statistics.  This allows me to utilize these leads as potential sellers for my buyer and potential leads for my buyers when they become sellers.  Most importantly, they are put into the database with a calendared call back date that they tell me is their time frame for listing.  I always believe that the time frame is usually half of what they say or it at least merits a phone call in half of that time frame.  If someone is telling you that they want to list in a year, please put them into your database for a six month call back.  What if one half of the allotted time period is one to six months?  They still do not qualify to be a listing leads A group, but that was good thinking on your part!

What starts to happen is you begin to find that your current lead generation system produces so many calendared call back dates and listing leads A that you will find that the solicitation and follow-up on these leads will be as big of a job as your pro-active seller lead generation systems.

Since I have retired from the speaking circuit, I have my systems (large books with software) that I was selling from the back of the room at about $1500.00.  These are my newest products and this package includes everything that I have ever done.  As a “pay it forward” opportunity I am now selling these same books and software at my cost, about 94% off.  This is the start of your plan to get to the point where you are living the dream.  This is not anything but selling you the best real estate training materials in the world for 94% less than they were selling for a couple of weeks ago.  You will get 9 books, a whopping 40 pounds of checklists and information that is easy to use.  These volumes have been used by agents in the US and Canada to be the best agent in their market place.  Go here top pick up your foundation for the future.

I AM SURE GLAD THAT I PLANNED FOR RETIREMENT January 15th, 2018 | Posted in General Real Estate, Other Interests, Real Estate

I don’t know about you but I was never a good budgeter.

Never good with rules and because I worked hard always thought that I was entitled to spend my money for stuff that I wanted.

First, it was motorcycles and cars…go fast and impress girls.  Then houses, to impress girls.  I learned that I really did not like the girls that were impressed with stuff.  Plus stuff purchased with that in mind were never great investments.  It was not until I discovered that every dollar you make, invested can make more money and money put to work meant that I did not have to work as much that I really got excited.

First, I had to make money.  Real estate brokerage was an easy entry business.  Education requirements were nil and capital requirements were virtually nil.  Plus, let’s be honest the competition is not world class.  All I had to do was find the owners that were the most likely to want to sell or the people that loved me.  I called my data base with short and compelling scripts.  I reached out to out of state owners and showed them how they could move their investment closer to home and pay no income tax on the capital gain.  I visited expired and FSBO listings and gave them value before I asked to become their adviser.  I learned how to ask questions to prevent crazies from wasting my time.  I told the truth, got top dollar commissions and learned to walk from bad deals.  I had a huge personal listing inventory of motivated sellers at the right price.  I did everything within the legal confines of the profession to get both ends of as many transactions as possible.  I kept my clients happy by time blocked feedback.  I got help for the things that I did not want to do in the business.  I made lots of money and got tired.

After 15 years, almost bored, so I thought about reaching out into related fields.  I had always like real estate investing for myself.  I had lost much on alligators so I started to buy cash flow, keep forever real estate.  I still needed money for the down payments so I kept up the brokerage side of the business but I manualized all of my systems that made me successful (some say top agent in North America) and started selling my manual and speaking.  I soon became proficient at showing people how to duplicate my system and easily make hundreds of thousands of dollars a year.

By the way the 9 big books that I have written along with the DVD’s, data cd’s and audio cd’s that just a few months ago sold for $1500.00 now are available on my site as long as supplies last for $90.00.  Yes, it is a little gift to the industry that has given me so much.  Selling at my cost, a 40 pound box of the best real estate products in the world.  Real life stuff that is easy to implement and has made most that use it, rich. 

I digress, so here I was, selling real estate (a mountain that I had already conquered), buying real estate and needing money for down payments, and taking my show on the road to teach thousands of Realtors all over the world what you have to do to become rich and famous in your own hometown.  As the speaking and product sales took off, I replaced my brokerage income with my speaking/training income.  Life is a process.  Years late, I got tired of the travel and now you are up to date.

I am retiring from the speaking and traveling business and now all I do is coach some of the best, or soon to be the best Realtors and Agents in the US and Canada.  Besides this, I am managing my real estate empire that I never sold, just improved.  In my opinion the perfect transition.  I now get to affect future generations with the wealth that I manage for God (yeah, it is all his).  Investing my cash flow from real estate investments and  coaching I continue to grow the estate that someday may fund my church and my family.  I got to tell you that I sure am happy that I chose to become proficient at real estate brokerage because I was never good at budgeting but good at spending.  With great real estate brokerage you don’t have to watch your spending if you can always make more.  I am glad that I grew up and started to invest with a larger goal than just providing for myself and tossed away the things that don’t matter.  I am also very happy that I implemented this plan because I am turning 62 in a few months and have applied for Social Security.  I applied early because I don’t trust government and would rather invest a smaller amount at my rate of return than wait for a larger check later.  Oh well, seems that I make too much money and there won’t be any money until I am 65…Unless they come up with another reason not to pay me back the money that I paid in.

Sure glad that I planned for retirement.

WHAT TYPE OF REAL ESTATE DO YOU HOLD FOR RETIREMENT? December 20th, 2017 | Posted in General Real Estate, Other Interests, Real Estate

In this continuing series of what retirement looks like for a top real estate agent, I have had many questions.  One of the most prevalent is what does retirement real estate look like?  Simple answer is different for everyone but my peers and myself who are successful in their retirement holdings stuck to some major themes:

  1. Buy something that will be fairly easy to have the tenant pay off while you are still working.  Obviously, the piece of real estate will have to throw off more net the closer the purchase is to your retirement date.  If you have 20-30 years to retirement it is fairly easy to have something cash flow and thus get paid off before the big date.  I made enough mistakes in my life where I had to have some of my holdings pay off in the last 7 years.  Sure I had some negative but I had a large income from real estate brokerage, coaching and selling books and software on how to make more money at a real estate agent.  Goal:  get it paid off close to your retirement date.
  2. Buy something that motivates you to improve.  When a tenant kicks in a door in a drunken rage (sure, it happens), be in an area that demands a new door frame rather in an area where you would try to fix the frame and the locks. (never looks right).  Buying in an area where most of the property is better than yours or where there are people who could be purchasers that will appreciate it or where your spouse does not chastise you for “making it nice.” Don’t be stupid in improving a property more than the area demands but always strive to bring it up to area standards which should be better than average because I can only stand above average tenants.
  3. Have in your mind that you will be known for above average properties, in above average areas at a little below average rents.  The reason for this is that I make my money in other ways.  I cut down on turnover by offering 2 to 3 year leases.  Tenants that agree to longer term leases are different animals.  They have stability.  I have in essence cut down the turnover cost by 50% over one year leases.  I ask for larger security deposits with tougher rules about carpet cleaning and damage.  I file quickly on tenants if they break the rules or become late with lease payments.  I experience less problems because I have nice properties that nice people want.  Nice people have jobs with Fico scores over 625.  There are exceptions but not too many.
  4. Improve for the long term.  In making improvement decisions I try to make improvements for the next generation.  The reason for that is the next generation will probably be my family still collecting rents and living and tithing off the net income from the rental properties.
  5. I seldom sell.  If I have made a mistake and the property can never meet the above parameters, I would consider selling.  This almost never happens.
  6. I impound or escrow property taxes and insurance.  No huge expenses to worry about and I have a monthly cost that I can use to let tenants know why their rent will be increased the next time around.  I don’t increase existing tenants rent if they are a joy, but I do increase if my costs have gone up.
  7. Pets are allowed only in the most extenuating of circumstances.  I have never seen a pet improve a property but have seen them hurt many.  I have a couple of dogs in homes where the tenants do a terrible job of keeping the place up and the damage has already been done and they have been there for more than 5 years. I have a dog in a home where the tenant has been there so long that he paid off the mortgage.  He waited a decade before he even asked me.  I have never had a pet accompany a new tenant.  If they are smokers they will say that they only smoke outside.  That is not true.  They will smoke inside sometimes.  A good paint job inside on a 2000 sq. ft. home is about $2000 for nice grey walls, white ceilings and trim.  Much less if they did not smoke.  Candles are the same as smoking.
  8. You will not see satellite dishes on any of my properties.  Animals install them and wreck your siding and roof.  Get an agreement up front with your tenant that a dish will never appear.
  9. Landscaping is kept to neighborhood standards.  If not, I have my guy do it and bill at 125% of cost.  Usually only takes one incident for them to be out there cleaning up on Saturday.
  10. I like brick properties with vinyl windows.  Upkeep in Illinois is tough on anything else.

There are a million other “rules” and I will let you discover them in my products.  I have recorded everything that has ever made my net worth grow in real estate brokerage and ownership.  Many of you have my books and software, but did you know that I am no longer speaking and therefore have all this product that will not be sold “on the road”.  The package of products used to cost $1500.00.  The best real estate manuals in the world.  Now, I am selling them while they last for $90.00 which is my production cost.  You can see everything you will get in a 40 pound box here.

YOU DON’T HAVE TO QUIT COLD TURKEY December 1st, 2017 | Posted in General Real Estate, Other Interests, Real Estate

You have climbed the mountain.

You generated listings, helped buyers and processed closings for years.

You have followed my plan and acquired some cash flow real estate.

You treated everyone like you would like to be treated which resulted in a good reputation…maybe you are an icon.

You try to eat correctly trying to get some of the sugar out of your diet.

You regularly get a little exercise.

You have a lot of years left and think you might want to change things up.

When you hear about me retiring from real estate brokerage and speaking about it on the road, it sounds good, but you ask…”what would I do?”  So let me give you some options, all which I have tried with different levels of success.  But please remember, nothing works really well without money.  If you have not made your nest egg yet, it is not that hard.  I have written 10 manuals – every system that has ever made money for me or the top agents that I coach.  These systems, books and software used to sell for $1500.00 bucks.  No more speaking means that I don’t need a warehouse of product.  Therefore, don’t miss your chance to get all of my newest products, still with the cellophane on it….the same stuff you would buy at my seminars, but for about 95% off, the cost to produce the products, which is $90.00 for everything.

You probably don’t the time to develop a super-efficient operation that brings in multiple listings and multiple buyers every month with the instructions on how to wow them without spending all you money and most of your life.  Every one of my coaching clients doubled their net in the first nine months.  How many years of that would it take for you to have a down payment on a newer 12 unit building or a few houses in decent areas that you depend on in your retirement.  Remember what I said last month…it all starts with systems that make the money first…get my stuff while you can!!!.

Now assuming you are on the previously mentioned net worth road and you are looking around for some options to change things up a little, some things that you can do in your spare time. Here are the changes that I made, in the order that I made them.

  1. Delegated some stuff to my clients, my assistants, the front desk and cut services that no one ever noticed or cared about.
  2. Made sure that any paid assistant did lead generation for at least 2 hours a day.
  3. Did not take listings from under motivated sellers that wanted to list at above retail unless it was for a year or more in a good market.
  4. Referred out all buyers that I did not want to work with, did not like, were not clear what or were they wanted or were a little out of my immediate area.
  5. Did not sanction incompetence from  anyone.  If employees or vendors were not delighting me, they were warned and if they persisted, were traded out for better.
  6. Manualized my operation with the thought of training in it and selling all my secrets.
  7. Understood that working for money gets old and wanted to start seeing my money work for me.  (Cash flow real estate purchase with down payments made by my great brokerage business).
  8. Relentlessly cut expenses.  If it did not result in traceable net income, I eliminated that expense for the next year.
  9. Kept the IRS at bay by maximizing tax advantaged moves such as SEP’s, IRA’s, 529 plans and HSA’s.  Later did self-directed IRA’s into cash flow real estate.
  10. Kept my commission split beneficial for me.  (I was bringing lots of activity to the brokerage)
  11. Opened my own small brokerage using my now commission split to fund the payments on a small commercial building.
  12. Cut turnover and expenses on rentals by requiring two year leases and minimum 625 Fico scores on all tenants.  Improve the property on every turnover because my plan is to keep them forever put them in a trust and have a inter-generational and tithing cash machine.
  13. Tried to give my book of business to my assistants.  Assistants usually are not rain makers.  The competition made sure that my assistants did not get as much business after I moved on.  Hindsight, I would have done a 5-7 year referral deal to another top agent or team.
  14. Just taking the business that I liked from the people I liked with the big numbers never really worked for me because my ego still wanted to be recognized as a top agent in town.
  15. As you grow up toys, crazy expensive cars and second and third homes become less important.  Legacies become more important.
  16. Working on the relationships with your kids and spouse become more important….start earlier.
  17. As your net worth grows the target on your back grows.  Write tight contracts, get the right contractors, the right tenants and the right vendors so you can have less attorneys in your life.
  18. Dad said only invest in what you know and can control.  Partnerships will break you.  The less partners and employees the better.
  19. Have a higher purpose than “getting rich”.
  20. Increased the things that work and decreased the things that did not.

 

It all starts with having a cash flow from your brokerage business.  The profitable business of having clients that list sale-able properties and want to buy available inventory is an art form.  I was like Rembrandt, get my stuff before it is gone forever. 

MY SECRET TO GOAL PLANNING:  2018 STARTS NOW November 17th, 2017 | Posted in General Real Estate, Other Interests, Real Estate

Bunching…boiling your goals down to the common denominator, make it simple stupid….all go through my head when goal planning.  You got to have goals, you have to write them down, you have to look at them at least once a week…you have all heard that and it is correct.  What they don’t tell you is that it is easy to become overwhelmed and feeling lost because of the work on your plate.  I was the best in real estate because I focused on the most important aspect, let me explain.  My goals of riches, property, free time, giving were all made easier with net profit cash flow.  I needed cash for down payments, I needed cash to buy free time by hiring assistants to house keepers, I needed cash to give or hire people that could give…It seemed that most (not all) of the goals were made easier with cash.  Cash came from closings, closing came from buyers, most of my buyers came from my listings and most of my listings came from effective lead generation systems….that was the nexus, the start.  Sure I had to smell good and care about my clients but it really started with finding a seller that needed my services.  Therefore, I became a heat seeking missile, looking for a listing presentation.  Therefore every year I started 10 new ways to find a seller, cut the costs in doing so, be more efficient in doing so, and effecting the seller’s life for the positive.  I became so passionate about it that I became very good at it…some say the best.  Heck, my products that I sell started out as my original goals, that turned into systems, that turned into manuals and checklists, that turned into the best real estate products ever written.  (ok, short commercial:  It worked so well that I slowed down real estate brokerage and started speaking and selling my manuals.  I upgraded the manuals every year for 30 years.  Real estate groups hired me to come speak to them all over the world.  I sold them my library of manuals, cd’s and dvd’s for $1500.00 us.  Travel is tough and I am getting old so last month I stopped traveling and now just manage the real estate that I bought for myself.  I have a warehouse of product wrapped in cellophane, brand new, ready to go out.  About 7000 pages, all the software.  The best (how to get rich) in real estate products in the world, go look at them here) because while they last and they will never be printed again I am selling them for $90.00 my cost.  You will have the best real estate library for recruitment, production, systems  that will make you rich, but only while they last.  When they are gone, they are gone. (end of commercial).

So the goal was simple every year.  Find 10 new ways to find sellers, cheaply and efficiently and change their lives so that they would tell others.  This one goal effected every other part of my life that I wanted to improve.  I had more money, more free time, I could give to my church and my family, friends.  I could bump into a nice “deal” and buy it,  I was less stressed and nicer to everyone.  Simple….one goal every year that made me into a real estate missile.  Oh, one more goal, I wanted to follow Jesus but how can you follow if you don’t his teachings well enough.  So my second goal was to study the Bible.  Time blocked study.  My third goal was health…yeah kinda tied into the first one…health is wealth.

So now I only had three goals.  Sure there were some sub-goals, but three biggies.  It was easy to concentrate.  Easy to implement.  And when I made improvements it made monumental changes in my life and others.  So make it simple this week for 2018 and move the big pieces first.  And remember, if you or someone you know needs help, spend a few bucks and get that box of 45 pounds of books and software and add one more goal….a page a day.



SUBSCRIBE/UNSUBSCRIBE

To subscribe or unsubscribe to/from our blog, please click here.

POSTS BY CATEGORIES


WANT TO KNOW MORE ABOUT WALTER?

Click on one of the links below to read more about Walter has to say about the real estate market.

Linked In