1. Approach every letting agent in the UK - 95% of all properties for sale are sold by estate agents.  If I did not have a strategy to win over estate agents then you should have been worried.  160 of my 200 properties I have bought have been bought via estate agents.  Just because a property hits the open market does not mean it is NOT a bargain.  You just have to be quick.

I built very good relationships with agents in the past (when I used to source my own deals) and they used to call me!  This is what my office replicates just on a larger scale.

Estate agents call us when a deal comes on the market fitting our criteria.  The reason why they call us is simple:

They know the deal will sell.

Imagine John, an ambitious estate agent, in his twenties wanting to make a lot of money.  He knows an easy way to get rich if he works hard is to be a super hot estate agent.  The more he sells the more he makes.

So when he gets a call from a seller and he asks the caller what the property is and he finds out the property is worth under £75k, will yield at 8% and they want a quick sale John should immediately think: AHUJA GROUP.

When he gets that call he already knows the property is sold.  John will do his utmost to convince the seller to put it on his books as he knows it will instantly earn him money.

John knows that we have the buying power of more than he could possibly find.  So everything fitting our criteria he can sell.  Making John the hotshot employee of the office.

We look for Johns in every town and city in the UK.  We are contacting EVERY estate agent in the UK as we speak.  We work with around 50 Johns but we are adding everyday.  Do you know a John?

2. Know every single one of my competitors.  Sounds crazy doesn't it?  However the business I am in you need to know every competitor as they might have a deal for you!  Its an incestuous business.  We work together with the common goal of placing deals with clients.

So if one of my competitors have no current clients who can take the deal for whatever reason i.e. clients hit borrwing limits, vendor needs a quick sale etc.  then we get offered the deal by the competitor.  If we manage to sell the deal we pay them for the deal. 

It also works the other way round.  If we have a deal and we have no clients who want it then we offer it out to our competitors to see if they can place it with someone.

3. Recruit ambitious sourcers of my own.  I have my own office based sourcers who do a fantastic job and I will expand this side of my team in good time.  However a quick and easy way to really boost my sourcing team is to recruit self-employed sourcers to work with us and attract them with very high fees.

I can utilise these sourcers own contacts for them to make money for them, you and  me!  Win - Win - Win I call that.  If I included the estate agent and vendor then it would be a win - win - win - win -win situation.  Is that a world record?(!)

Become a property sourcer for the Ahuja Group.

4. Procure deals not on open market.  I spend a lot on advertising for deals.  I have a section of my team that deal with the more speculative end of the sourcing game.  We place adverts in newspapers where we know are hotspots and we also study the local press for private ads in these hotspot newspapers.  We miss nothing!

So we pretty much cover the whole market apart from property auctions.  However it is difficult to structure a no money down deal (I think it is impossible actually) with a property from an auction house.  They want 10% at the fall of the hammer.  If you have any ideas on how you can get around this let me know!

So the mission statement by me and on behalf of the Ahuja Group is:

To place a property with my client within 4 hours of it coming to the market. 

If there is a property on the market that fits your criteria then I want that property in your hands by the close of play that day.

I have a vision of my office being opened from 9am till 10pm everyday!  And NO I am not a slave driver as my team are all on a commission structure so I do not have to crack the whip.

If an estate agent gets off the phone at 7pm after negotiating with the vendor I want my team calling you up, disturbing you from Eastenders, giving you the good news that the deal is in and paperwork out that evening.  If it takes them till 10pm then so be it.

As you can tell I am very excited about the future of my business.  My business has really expanded over the last 6 months (due to demand form you guys!) and I really believe we can be the Number 1 organisation for property investors.  If you want to be a client then take advantage of my offer of a discounted joining fee of £499 which I have extended to Monday 6pm prompt.

Anyway on a final point have a look at my brand new website AhujaMatch.com where you can earn or save money.  It is a site where landlords can meet contractors and vice versa and do a deal.  It is completely free to join, use and profit from!

Speak soon.

 

Ajay

Posted on: 8th Feb 2009

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