Use 1031 Real Estate Exchanges to Create Multiple Streams of Income by John Falletti - HTML preview
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Local newspapers are always looking for articles and local interest stories to print. Newspapers do not like to print free ads but do not mind making free announcements about new businesses or clubs, publishing free seminar information, or printing free informational articles as a general interest story.
Knowing this, you’ll find that local newspapers present a perfect opportunity to announce the formation of your real estate investment club or your free real estate exchange seminars, and many newspapers will even publish your meetings and dates, times, and places that they are held. Newspapers also accept and will print articles of general information. A wellwritten article showing how exchanges can help people save thousands and prepare for retirement is definitely something they will want. And be sure to mention in your article the free booklet you’re offering.
Radio is often the most underused of all advertising media, yet it’s the best opportunity to reach potential customers. With so many advertising choices it is virtually impossible to hit a large broad market easily. Radio has emerged as the perfect medium to use.
Radio talk stations, both local and regional in scope, are always looking for guests with something of interest to offer and will invite you to come on free of charge. You however have to call them to let them know that you are available to speak~ they will not call you. Speaking on the radio for even 10 to 15 minutes on a specific topic immediately lends credibility to your name and brands you as an expert on that subject. If you offer to give something away to the listeners masked as a free educational packet, the radio now lets you give your name and telephone number to these listeners, who already think of you as an expert.
You can also announce free seminars during your interview and it can also become great place to offer a special deal or discount to listeners who act within a fixed time frame. Occasionally the radio may ask for some money in the form of advertising, which itself is very inexpensive. If they do, turn it into an asset by telling all your clients to listen to the show in advance and then create ads to play on the show announcing your visit as if it were a huge event.Here is an example of a radio ad that we’ve used successfully. The ad ran twice a day for a week before we appeared on the program, to build credibility and attract more listeners.
Want to learn how to sell your real estate 100% taxfree? The Money Show is pleased to have as its special guest the 1031 Exchange Group, one of New England’s premier exchange companies. Listen as they explain the advantages that a 1031 exchange can offer. Double or triple your rental cash flow, generate taxfree income, purchase the retirement home of your dreams, and eliminate tenant headaches. All this and more are available through a 1031 exchange. Listen live this Thursday and call in with questions. They will also be giving away free books on 1031 exchanges. That’s the 1031 Exchange Group, this Thursday from 9:00 to 11:00.
With the ad running like an announcement, it created a buzz for us and probably doubled the number of listeners we would have otherwise had. The ad consistently branded us as an expert and validated our expertise on exchanging.
Working with other professionals and their clients is the latest trend in marketing. We see many mortgage brokers teaming with real estate agents to offer firsttime home buyer seminars. These can be extremely successful and an opportunity to grow market share for all involved. Every professional has a database of names that we call a “warm market”~ people who already know you and theoretically trust you. When a number of different professional industries combine their clients, the success of producing a mailing offering free information or announcing seminars can be all but assured. Each professional can now attract the others’ clients because it can be treated as an endorsement that these other professional are good to do business with. It also strengthens your relationship with your current client base.
Recently, a number of magazines have started publishing articles that explain to professionals about the concept of branding themselves using niche marketing as the medium. They have also been talking to professionals about the need to create additional profit centers with new products or services. Below are a number of articles, which you will find interesting, that offer insight into branding, crossselling, new profit centers, niche marketing, and –more importantly – future trends that will shape the industry you are in. The website addresses given are where the original articles are stored. Type each website address into your web browser to view the article in its entirety:
Realtor Magazine tells how realtors are capitalizing on the 1031 exchanges to capture lifelong clients. A salesperson with Keller Williams Realty in Plano TX says that "1031 exchanges have allowed me to open my business to a whole new client base," and over 30 percent of his business now comes from 1031 exchanges. Also, a principal broker with Blue Heron Realty, Cambra & Associates Inc. in Springfield, VA estimates that she “has generated over $50 million in 1031 exchange business during the 14 years [I've] been using them."
The August 15, 2006 edition of The Wall Street Journal Online reports that 1031 Exchanges are surging even in the midst of the current real estate decline. http://www.realestatejournal.com/indinvestor/20060815bernard.html?mod=RSS_Real_Es tate_Journal&rejrss=frontpage
RealtyTimes.com relates how real estate agents are doing 1031s to make more money. "Do you want to make more money this year," writes Betty Kincaid, "Let me tell you about the bestkept secret in real estate the 1031 taxdeferred exchange." http://realtytimes.com/rtapages/20000605_exchange.htm
FinancialPlanning.com According to Seth Pearson, 1031 exchanges are becoming an important part of real estate planning and estate planning. "Consulting on highly appreciated real estate will soon become a new and highly significant part of many financial advisers' practices."
Commercial Investment Real Estate Magazine reveals how Tenant in Common opportunities can facilitate transfer of wealth. Howard Kass writes that, "From an estate planning perspective, TIC investors' heirs benefit from multiple tax advantages upon inheriting such property."
Real Estate Center , in an article entitled "Tic Fever", says that "This redhot investment vehicle, known as a tenancyincommon or TIC, ...has become particularly attractive to real estate investors in search of properties qualifying for a 1031 taxdeferred exchange."
Bloomberg Wealth Manager Magazine describes how an exchange saved a client thousands of dollars and tripled their cash flow.
National Real Estate Investor ‘s Joe Goss reports that "Virtually nonexistent only a few years ago, the tenantincommon structure has become the hottest investment vehicle in real estate...TICs raised $1.8 billion in equity last year and are expected to raise over $4 billion this year."
Read how, Financial Plan describes how a 1031 / TIC Exchange saves a client over $500.000 in taxes and eliminated tenant management headaches.