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Real Estate Workout Attorney
Earns $10 Million in Fees
~ A True Story by J. A. ~
"I have a client who's become the foremost real estate workout attorney on the West Coast. Let me tell you what a workout attorney does. He works with either the owners of the property or the financial institutions who end up taking properties back when people go bankrupt or go into foreclosure. And he works with one or both sides, helping them make the transaction work, whatever work means for them.
About two years ago this attorney decided he was going to become the top authority in an emerging field.
No one really had a lot of expertise, himself included. But he decided he was going to position himself as the foremost authority. So he acquired a number of lists of financial-institution workout specialists. He approached them very systematically by mailing them an invitation every month to an event he conducted on their specific workout situation: hotel workouts or apartment workouts or shopping-center workouts, etc.
Each and every month he also sent a mailing designed to give them information and ideas that no one else had ever provided and to establish clearly and inarguably his distinction as the preeminent specialist.
When he started two years ago, he didn't even know that much about workout law. But he learned as he went. If he picked somebody's mind, he'd turn it into an article. Then he'd send the article to his list of qualified target prospects.
To make a long story short, today his firm is generating millions of dollars in fee income.
Just because he identified the key decision makers at twelve hundred prime financial institutions and mailed them a valuable and informative letter each and every month for two years.
A nominal investment of about $600 -- six hundred meager dollars a month -- has turned into over $10 million worth of fee income a year to his firm.
Now if you think that's the high end, let me go to the other end.
I had a chiropractor client who targeted the fifty primary personal-injury attorneys in his marketing area. Each and every month, for the next year, we sent a letter to every one of those attorneys telling them about my client chiropractor and his areas of specialization and reporting on cases he had worked on. We suggested ways the attorneys might be more effective in court trials as well as in the suits they were filing.
Within a matter of nine months my chiropractor client picked up fifteen of those fifty attorneys as clients, and his practice tripled."
Excerpted from:
"Getting Everything You Can Out of All You've Got" by Jay Abraham Publisher: St. Martin's Griffin (October 12, 2001) List Price: $14.95 Available in Bookstores Everywhere
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