Real Estate Investor Huddle: Recent Episodes
Gary Boomershine
Real Estate Investor Huddle, helping real estate investors hit acceleration, eliminate distraction and avoid disaster. Featuring masterminds and in-depth conversations with some of the top investors and experts from around the country, you'll get actionable strategies and tactics to grow your real estate investing business, focus on systems and profits while preventing costly mistakes and setbacks. Hosted by Gary Boomershine, real estate investor, Fortune 500 consultant and CEO of RealEstateInvestor.com.
If you’re a real estate investor, using private money is the best move you can ever make. However, many investors shy away from it because it sounds too good to be true.
Where can we find private money lenders, and why would they be willing to give us their money in the first place? Where’s the catch?
In this episode, President of The Private Money Authority and author of Where To Get The Money Now, Jay Conner addresses investors’ most common concerns.
Three Things You’ll Learn In This Episode
- What makes private money such a great choice
What’s the difference between hard money and private money, and why is it always a smarter idea to pick the latter?
- 3 places to find private lenders
Where are we most likely to find the people willing to loan us what we need?
- How to get access to private money WITHOUT ASKING FOR IT
Working with a private lender sounds like a dream come true, as is, but is it possible to do that without even asking for it?
Guest Bio-
Jay Conner is the President of The Private Money Authority and the author of Where To Get The Money Now. After spending years raising money for deals in the traditional way, Jay turned to private money once it became tougher to get a secure line of credit, but it turned out to be a blessing in disguise, and he’s never looked back since.
Today, he’s passionate about teaching investors how to access private money through coaching, his book, and his podcast, The Private Money Academy.
To find out more, go to:
https://www.jayconner.com
https://www.jayconner.com/freebook
Investors are always looking for a lead source with low competition, and low running costs - senior living is that lead source. If you do it right, it can be the arrow in your quiver that you can use for the next 20 years.
Better yet, senior living is a channel that allows us to make an impact, and solve the pain points of a community that needs it most.
What makes this investing niche so great? How can you get started? In this episode, I’m joined by entrepreneur, speaker, coach and CEO of Mom’s House, Phillip Vincent. We talk about investing in the senior living niche, and how to get started.
Three Things You’ll Learn In This Episode
What makes senior living such a great lead sourceHow can you generate senior living leads without paying for marketing?
How to approach prospects in this nicheWhy will you struggle if you approach senior living leads as an investor, or even as a real estate agent?
The most important part of the senior living lead sourceThe people who win in the senior living niche actually have a heart for the people they are buying from. How do you know that this niche is right for you?
Residential assisted living is the trailblazing, high cash-flow, investment niche most people are unaware of. Not quite a nursing home, but not quite the Golden Girls, single family homes for senior care are in demand.
Super senior citizens are the fastest-growing demographic, with millions seeking a real estate solution that keeps them in their own home, while providing the care they need.
How did one investor turn this pain point into an impactful and profitable service?
In this episode, investor, author, founder and CEO of Residential Assisted Living, Gene Guarino shares how he is creating massive opportunity and making a difference in a little known niche with a ton of potential.
Three Things You’ll Learn In This Episode
How to solve a pain point for an underserved demographicThe super senior citizen demographic grows by 1.4 million people every year. Why do they want something different from nursing homes, and how can investors provide it?
The residential assisted living that earns Gene $7k a monthHow can you implement an investing strategy that multiplies your income without multiplying your work?
Why we need to put our money to work NOWRight now, buy and hold is the smartest play for investors. What’s at stake if we take too long to make a move?
Guest Bio
Gene Guarino is an entrepreneur, author, real estate investor, coach and the founder of Residential Assisted Living Academy. He has over 30 years experience in real estate investing and business and now is focused on just one thing... investing in the mega-trend of senior assisted housing.
Having trained tens of thousands of investors and entrepreneurs over the past 25 years, he now specializes in helping others take advantage of this mega-trend opportunity.
For more information, to sign up for coaching, get Gene’s book or get in touch, visit http://ral101.com.
Hustling and working yourself to the bone is meaningless if it’s not applied to the highest and most profitable use of your time. The activities of a real estate investor are worth upwards of $1000 per hour. If our calendars are filled with lower dollar value tasks, we’ll never get off the hamster wheel and elevate our businesses.
What are the lower dollar value activities we need to get off our plates immediately? How do we stop micromanaging and start macromanaging?
In this episode, you’ll learn how to elevate your business by stepping into the activities of a CEO.
Three Things You’ll Learn In This Episode
- How to deal with the tasks you’re not good at
Instead of spending time on learning and improving skills you are lacking, how can you put your time and effort to better use?
- Why we need to grow through systems
How do we automate our businesses so that dedicated systems do the heavy lifting for us?
- How to create more freedom by empowering our people
What’s the difference between micromanaging and macromanaging?
It’s no secret that we’re operating in a historically low inventory environment. With homes selling as soon as they hit the MLS, and ridiculously high prices, do investors have a shot at profit in this market?
How do you get ahead of your competitors, and still find opportunity in a market that’s proven so challenging for other investors?
In this episode, we’re going to share 3 investing strategies for a market that seemingly has no sellers or leads.
Three Things You’ll Learn In This Episode
Your secret weapon in investing
Why is data the secret ingredient to closing deals when there’s little to no inventory on the market?
The power of driving for deals
The key to finding off-market deals is identifying telltale signs of distress. What do you need to be looking for?
How to create a valuable offer sellers will want
When you come in as a solution to a pain point, you are guaranteed to close deals. How can you bolster your value by eliminating the challenges that come with a traditional listing?
When it comes to growth, expansion and scalability, most people are laser focused on systems and tactics - the things they can do to push forward. But it's impossible to grow ANYTHING without expanding your current mindset.
What you think and what you believe always comes first. When you focus on tactics, you will inevitably hit a wall. However, when your mind is right and you are functioning at a high level, you can scale without limits.
How do you rewire your brain and restructure your life to support your scalable real estate investing goals? In this episode, I talk about why you need to think like a top investor before you can become one.
Three Things You’ll Learn In This Episode
Mindset vs. tactics
The first thing people think about when they want to grow their business is tools and systems, but what has to expand first?
Why success starts with what we do everyday
How do you create routines, rituals and rewards that support your business, and make scaling inevitable?
How to put value at the center of your marketing
How do we craft a strong service offering and bring value to the seller?
The biggest limit to your growth isn’t in your business or your marketing - it’s actually between your ears.
At any level, the results you get come down to your mindset and your control of it. The most successful investors and entrepreneurs are masters of mindset - how can we achieve our own goals by emulating them?
In this episode, I talk about the biggest limit to your growth, and how to break your own ceiling.
Three Things You’ll Learn In This Episode
The daily activities of a mindset master
How do you free your mind of limiting beliefs, and tap into the fuel of successful investors through the actions you take everyday?
How past experiences shape what we believe
Why do our negative experiences turn into stumbling blocks to our growth if we don’t deal with them?
Why you need to tap into your why
What’s the one thing we can learn from children that will fuel our growth and mindset mastery?
When it comes to our prospecting efforts, there are two approaches we can take - general or targeted.
It’s easy to think that going general is better, cheaper and smarter, but that could contribute to a lack of results. Narrowing our focus and refining our data upfront will actually get us a higher return on our overall efforts.
But how narrow and targeted can we get? How can we achieve more by refining the kind of properties we go after?
In this episode, you’ll learn how to improve your marketing results by getting more specific.
Three Things You’ll Learn In This Episode
The key to finding the opportunities in our markets
How do we identify a good neighborhood that has a wealth of opportunities for both traditional sales and investing deals?
Why a targeted list leads to more opportunity
How do we get a better ROI by spending more time and money upfront to get the most whittled-down targeted lists?
When we should consider spending more on our marketing
At what point in the lead gen process should we consider spending money on tip-of-the-spear marketing tactics.
Seller leads can be categorized into multiple buckets. But would you get better results if you tailored your campaigns and follow-up sequences accordingly?
The more customized our follow up the better, but that only applies to the key data points that actually move the needle in your marketing. Some details investors focus on are completely irrelevant to the transaction and their ability to serve sellers at a high level.
What are the things we need to customize in our campaigns and why? How do we shoot ourselves in the foot by customizing the wrong things?
In this episode, we discuss how to deal with types of seller leads, and if we should be treating each of them differently in our marketing.
Three Things You’ll Learn In This Episode
What truly moves the needle in our follow up campaigns
The type of seller they are or what list they came from is an irrelevant data point. What do we actually need to focus on?
How to tailor your marketing to different transactions
Why do we need to customize our seller lead funnels based on the kind of service we’re trying to offer and the type of transaction they are looking for?
The importance of taking the seller’s lead in our communication
How do we make our follow-up more effective by matching the prospect’s initial communication?
Data is the key to any good lead generation and marketing strategy. Imagine how a higher level of search could help you go after the right leads from the start.
Skip tracing allows us to do just that. It provides us with the high quality data that puts us in front of sellers our competitors aren’t even thinking about. It can help us bring dead leads to life and create new opportunities.
How does skip tracing blow other search models out of the water? How can we leverage it to boost our investing business?
In this episode, you’ll learn how skip tracing works and how to use it effectively.
Three Things You’ll Learn In This Episode
How skip tracing supercharges your marketing
From a front-end marketing perspective, what’s better than having multiple ways to reach sellers?
Where skip tracing has the most power
Your competitors are casting aside undelivered and returned mail. How can you gain a massive advantage by bringing these dead leads back to life?
How to deal with sellers who ask us how we got their info
How does skip tracing help us handle the biggest objection investors get when they call someone?
Is your mindset setting you up for success or keeping you complacent in your comfort zone? Our ability to do anything at a high level is governed by the actions we take every single day, and that’s driven primarily by our mindset.
Successful people make a sustained habit of doing the hard things consistently because they know they produce results. If we’re not challenging ourselves in the same way, we’re doomed to remain comfortable.
What are the differences between people who have a growth mindset, and people who have a comfort mindset? In today’s episode, I share why we can’t succeed without doing mindset work.
Three Things You’ll Learn In This Episode
You don’t just need habits for your physical, mental and emotional health. You need rituals and routines for lead generation, follow up and accountability in your business.
When we have a growth mindset, we create a baseline of performance that moves the needle, and we have a non-negotiable commitment to it.
Success is about doing the hard things. If we’re not deeply connected to our ‘Big Why’, we won’t be able to stay consistent when the going gets tough.
In real estate investing, the gold is in the follow-up. It’s a critical step in the marketing process and closing more deals, but how do we choose the right method?
There’s no such thing as a 100% perfect follow-up method, and whether we’re choosing phone calls, emails, or direct mail - there will always be a trade-off.
Every single follow-up method has its positives and negatives, so how do we craft a follow-up strategy that minimizes the downside?
In this episode, we talk about the pros and cons of different seller lead follow-up systems, and steps we can take to get the best of all of them.
Three Things You’ll Learn In This EpisodeThe biggest downside to email marketing is deliverability. It’s getting harder and harder to get into inboxes because there are so many spam prevention methods.
If your front-end marketing included direct mail, it also has to be a part of your follow-up sequence.
You need to have phone follow-up as part of your marketing system, but it doesn’t have to be you or your salespeople doing it.
When our businesses hit a ceiling, the knee jerk reaction is to attribute it to a lack of capital, resources, people, or the market.
What if the truth is a lot simpler and closer to home? What if you’re the limiting factor?
As the visionaries and owners of our businesses, there’s a highly profitable zone of tasks we need to work in. The time we spend outside that zone leads to less impact, less profit, and less freedom.
What are the telltale signs that we’re the bottleneck to our own business? How do we unlock massive growth through leverage?
In this episode, we dig into one of the biggest reasons investors fail to grow, and what to do about it.
Three Things You’ll Learn In This EpisodeLeveraging the lower dollar value tasks multiplies our potential by leaps and bounds. We increase our own bandwidth for the revenue-generating activities that are vital to our success.
Everything comes down to mindset. If we’re harboring mindsets and limiting beliefs that keep us busy in the wrong areas of our businesses, we’ll always be in our own way.
It’s hard to have consistency in any system if we’re the only ones working it. Trying to do everything in the business creates a vicious start-and-stop cycle in our lead gen and conversion. How do we build a well-oiled machine that runs on efficiency?
As real estate investors, our CRM is the most important piece for our growth and scalability, but picking the right one can be a challenge.
Do you choose a done-for-you system or something that allows you to code and build more integrations on your own? There is no one size fits all CRM - our choice is going to be heavily dependent on our needs, and how quickly we want to ramp up.
What are the considerations we have to make when choosing a CRM? What is the difference between a platform like Podio and our very own Touch?
In this episode, we discuss how to choose the right CRM for your needs and the vision you have for your business.
Three Things You’ll Learn In This Episode
The CRM we choose is going to be dependent on how quickly we want to ramp up. Podio has a longer ramp up time because there are a lot of different elements to integrate into it.
With Podio, you’re always going to need someone to maintain the tech and help you integrate new things as you start to scale or expand your operations.
Touch allows for a super simple setup, and in turn allows you to focus on deals.
Marketing is the lifeblood of a successful real estate investing operation. When we stop marketing, people stop knowing what we do and we throw a spanner into our entire lead generation.
Sometimes we have to pause our marketing, and give ourselves the opportunity to improve something that wasn’t operating at 100%, but we can’t pause for too long.
It’s critical that we get our marketing up and running again, and whether it’s online marketing, cold calling or direct mail, we have to get into action.
What are the steps we need to take to get our marketing up and running again? In this episode, I talk about what you need to do after pausing your marketing.
Three Things You’ll Learn In This Episode
If you paused your lead generation, the first people you need to get in touch with are the ones who responded to the last marketing you ran. They are our best and warmest leads.
When you set your marketing budget, make sure it’s an amount of money you’ll be comfortable not getting ROI on for 3 months.
Don’t try to restart your marketing with every single channel. Focus your efforts on one channel or platform until you refine it and start doing it really well.
The most effective and successful marketing campaigns for real estate investors don’t happen by chance - they are the result of the right data, the right medium, the right message, and most importantly going after the right people.
The investors with the right tools are the ones who will win and scale, especially when they are backed by sophisticated marketing systems. Data stacking is one of the most powerful ways to zone into the avatar properties and sellers who will take action on our direct mail marketing.
What products do we need to be taking advantage of to scale? How can we clearly define the properties we need to be going after?
In this episode, we talk to CEO of KWElite and host of The Team Building podcast, Jeff Cohn. We share the tools that can help agents and investors market more effectively.
Three Things You’ll Learn In This Episode
Why direct mail still works so wellA lot of businesses are missing out on opportunities by just being digital. Direct mail is still a highly effective marketing channel, especially when it’s done with the right technology, the right software and targeted to the right people. Direct mail is the perfect way to generate seller leads that aren’t already actively listed with somebody.
The power of data stackingSuccess in investing starts with the data we’re feeding our lead generation and follow up engine. Data stacking allows us to target people based on multiple pain points or points of value. Predictive analytics and data stacking gives us refined information and details so we’re not wasting our direct mail on the wrong people.
How the tools of investors also serve agentsThe same data stacking tools that benefit real estate investors looking for off-market deals also benefit agents looking for homes to list. The same marketing channel used by investors can still bring in people who are more interested in listing traditionally than selling to an investor.
Guest Bio-Jeff Cohn, a nationally renowned speaker and host of The Team Building Podcast, is CEO of a tech-powered Keller Williams market center in Omaha, NE. As founder of Omaha’s Elite Real Estate Group, now kwELITE, he led his team from 70 to 700 transactions in 6 years, and was awarded the #1 team in unit sales in the world at Berkshire Hathaway HomeServices in 2019.
Since beginning his real estate career in 2006, Jeff’s team has closed over 5,000 sales, totaling over $1 billion in volume. For more information visit https://www.kwelite.com and listen to the Team Building Podcast on your platform of choice.
Follow @jeffmcohn on Instagram.
To scale our operation, generate more leads, and grow our income, we have to learn, own and know a local market. But what happens when we’ve tapped out all the leads in our market of choice?
The answer is to expand in 3 specific ways.
If we’re doing a good enough job of collecting all the data, we’ll discover more houses that we can effectively target beyond our own local area.
How do we find opportunities in other locales? Can we successfully scale our business without having to learn a completely new market? In this episode, I share places you may not have considered for seller leads, and how to go after them.
Three Things You’ll Learn In This Episode
You don’t have to stay in the same zip code. Before considering another market, expand upon where you already are.
Expanding into a new city should only be the option once you’ve exhausted the metro areas, suburbs and rural areas around your market of choice.
Don’t go into a completely new market blind. Reverse engineer the market to see what’s selling so you know how to tailor your approach.
Scaling an investing operation is a bold move, but it’s one worth making.
There are personal and business risks involved in scaling but they shouldn’t stop us if we lay the right foundation.
When we become more focused on the risk involved in scaling, we can hold ourselves back from propelling our businesses and gaining the freedom we seek.
How do we change our mindset and increase our readiness for scaling our investment operation? What are the limiting beliefs around hiring people, and how do they curb our growth?
In this episode, I share why we have to overcome our fear if we really want to take our businesses to the next level.
Three Things You’ll Learn In This Episode
Lack of time is one of the fears people have about being able to scale, which comes from the perspective of thinking we have to accomplish everything in our business.
Even if you’re the best salesperson in the world, if you don’t hire other salespeople, it’s impossible to scale.
Set a threshold for how much risk you’re willing to take. That way you cap your downside so you are free to take more bold action.
In this industry, we talk about marketing and generating leads, but if we can’t consistently convert those leads into profitable deals, we can become frustrated.
Leads need to become opportunities, and that only happens when we perfect our marketing. If we don’t know how to work leads, we will always lose money, but if we develop a system that helps us nurture leads effectively, success is guaranteed.
How do we reverse engineer our sales and marketing so we can reach our goals? What is the difference between leads and opportunities? How do we identify the opportunities in a pool of leads?
In this episode, entrepreneur, investor and owner of Velocity House Buyers, Greg Helbeck shares the secrets and tactics for closing more deals, and how to start seeing massive results.
Three Things You’ll Learn In This Episode
Why the bottom line is the number that mattersThere’s a lot of chest pounding about volume in this business, but if we want to move the needle, our focus needs to be the bottom line. When our priority is the long-term vision, we see beyond the number of transactions and become more concerned with profit. Think about the type of lifestyle you want to have, how much that will cost and what you need to do business-wise to fulfill it.
The role marketing plays in our successThe reason investors struggle to generate enough leads to scale their business is not putting enough money, time and resources towards marketing. If we aren’t pushing out enough marketing, it’s hard to build a real system. It’s also hard to get the feedback that helps us improve and double down on what’s working.
How to be an effective salespersonOur primary purpose as real estate investors is helping people solve a problem by selling a property. When we nurture and get into conversation with leads, we’re able to peel back the layers, and discover their pain point. Being an effective salesperson is about asking open ended questions and tailoring our approach to provide the solution.
Guest Bio
Greg Helbeck is an entrepreneur, investor and owner of Velocity House Buyers and host of the podcast, Pave the Way. His company Velocity House Buyers purchases real estate investments in the greater Hudson Valley region of New York and Dallas, Texas.
To connect with Greg follow @grego_37 on Instagram and listen to the podcast here or on your preferred podcast platform.
Closing more deals allow us to increase our profitability and scale our investment operation, and investors are always looking for the next best tactic to do it.
There are no shiny new leads, magic lists, scripts, or contracts that will get you more deals if your fundamentals aren’t in place first.
There are 3 key dimensions we need to improve to increase our close rate, and all of them are actually easy to implement.
What mistakes are costing us valuable deals? How can communicating more effectively make us more efficient at closing deals? In this episode, I share the things you need to do today to start turning more leads into deals.
Three Things You’ll Learn In This Episode
People don’t usually do business with us on the first call. If we don’t have a plan in place to follow up with them, those leads will keep falling through the cracks and into the hands of investors who care enough to follow up.
The best salespeople in the world are really good at listening to what people need and solving their problems.
Stacking your data increases your close rate by helping you go after the best and highest quality leads and the people who are most likely to sell.
As we head into a new year, we’re also very likely heading into a different market. If we’re planning on scaling our businesses, we need to position ourselves for this market.
The investors who are going to win when the market shifts are the ones who have a solid foundation of marketing and follow up. They are the ones using this time to line up capital so they are ready to hit the ground running next year.
What market indicators do we need to be paying attention to? How do we avoid getting caught in a market implosion? In this episode, I talk about the strategies that will set you up for success in 2021.
Three Things You’ll Learn In This Episode
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If you want to have a lead flow, you need to be marketing consistently. You need to put the messaging out there that you buy houses, and that you sell to wholesalers.
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If you have access to money, you’re better situated for what’s coming in 2021.
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Avoid any deals that expose you to the risk of market implosion. Focus on building a stockpile of cash quickly.
The holiday season is a time when a lot of people dial back on revenue-generating opportunities because they don’t think there’ll be any business, but there are actually more investing opportunities now than at any other time in the year.
While everyone else has already settled in for the holiday break, we still have a lot of time left to work on our business goals.
What are some of the things we need to do during this time to maximize our opportunities? Why do many investors have their best month of business in December? In this episode, I talk about why we shouldn’t halt our business just because it’s the holidays.
Three Things You’ll Learn In This Episode
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In December, a lot of people get busier with holiday activities, including our competition. Instead of dialing back, if we keep doing revenue-generating activities, we’ll actually capture more market share.
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To keep yourself motivated during the holiday season, focus on your vision for next year. What do you want to have accomplished by this time next year?
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A lot of people stop following up because they think they’d be bothering people by reaching out. Sellers still want to sell, and buyers are still looking for homes. People are going to do business with the people who stay in front of them and follow up.
For many business owners, it’s difficult to replace ourselves in certain tasks in our businesses, but having too many things on our plates holds us back and keeps us from getting to the next level.
Delegating isn’t a luxury afforded only to a few leaders. It’s critical to our effectiveness and ability to keep growing our business.
As the owner of the company, you deserve to build the systems around you that take the pressure off. You deserve to have time and space to replenish and refresh your energy.
What are the benefits of delegating? How do we determine which tasks to delegate? In this clip, I talk about why delegation is something we should implement in all our businesses.
Three Things You’ll Learn In This Episode
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If a task is repetitive and mundane, we can document and delegate it. If it’s too difficult, time consuming and hard to document, we should try to eliminate it.
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We deserve the time and space that allows us to be creative and reflect on what will get our businesses to the next level. If we don’t delegate, we’ll never have the time and space to come up with these ideas.
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Instead of thinking about how to do something, change your mindset to finding who can do it. Think of how someone else can do a task more effectively than you can.
Watch the On-Demand Replay: https://realestateinvestor.com/huddle-podcasts/
Achieving our goals comes down to saying yes to the things that matter, and no to anything that takes us off that path. That’s why we should actively seek structured challenges that focus our effort and attention. They help us implement the consistent action that makes our goals attainable.
Whether we want to improve our health or fine tune the things that matter in our businesses, challenges create accountability, structure and ultimately, momentum.
In our real estate investing business, follow-up most directly impacts our ability to close more deals. Committing to our follow up within a challenge can be just the thing our business needs to multiply our results.
How can we combine the power of challenges with the results we get from follow-up? What are the psychological benefits of challenges?
In this episode, I share why challenges are so necessary for entrepreneurs and The One Follow-Up Away Challenge.
Three Things You’ll Learn In This Episode
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We don’t fail at your year-long goals in December. We fail right at the beginning of the year when we don't commit to the daily actions and activities that make up that goal.
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The biggest thing we’re going to get from a challenge is the result that’s promised by following the steps, but there are always additional benefits to a challenge. Challenges can improve our mindset, our health and our habits.
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Consistent follow-up multiplies our ability to close more deals. The One Follow-Up Away Challenge will help you build an automated machine that ensures every lead you pump into it is being touched until they are ready to do a deal.
When investors are so focused on the deal and the transaction, they skip a critical step, and create a barrier to closing the deal. They frequently miss the critical part in the process that will turn a seller lead into a transaction.
The conversation and the relationship aspect is the part we simply can’t skip. It’s the part that turns leads into deals and dollars.
How we approach and talk to the seller is the crucial part we must master. Sellers don’t want to be sold to or at, they want to be listened to and understood. They want investors to solve their pain points and genuinely care about them and their lives. That’s why being empathetic is one of the most powerful skills we can have in sales.
How do we find out what sellers really want so we can step in and help them?
Why is listening the key to converting leads?
In this episode, I share 3 effective ways to communicate with and listen to the seller, and why that’s one of the most crucial parts of converting leads.
Three Things You’ll Learn In This Episode
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The more we allow someone to talk about themselves and their situation, the more they get to know, like and trust you. That’s where the sale occurs.
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Develop and nurture the skill of listening to sellers. The more a seller talks, the more you’ll learn about them, the problem they have and how to step in and solve it by buying their home.
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Sellers will talk about the problem they want to solve if we ask them simple questions and leave room for them to open up. Ask simple questions, listen and that will allow them to open up and go deeper.
The biggest reason we fail to achieve our goals is a disconnect between our long-term vision and the small actions that will get us there. We’re often so focused on the future that we overlook what we need to do in the present.
If we don’t have a plan that governs what we do daily, weekly, monthly and quarterly, it’s hard to create any meaningful momentum. The short-term is what sets the pace and accumulates the results that will get us to our super long-term goals.
75 hard is a system that can catapult us in the moment and create the path to our long-term future. It allows us to focus on the smaller sprints that will help us run the entire marathon.
What is the first step we need to take if we want to achieve our goals? How do we determine the smaller things we need to do consistently if we want to create long-term momentum? In this episode, I share a method we can use to govern our goal setting and priorities in order to achieve our bigger goals.
Three Things You’ll Learn In This Episode
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Your big goal should be something that stretches your ability and makes you a bit uncomfortable. It should go beyond the abilities you have now, and require you to improve yourself to get there.
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Don’t set a long term goal that’s really a disguised short term goal. Define your big goal and then set short-term milestones that fit into the bigger vision. This approach builds the foundational momentum.
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Honestly evaluate where you are right now, so that you are clear on what your big vision is and the smaller benchmarks you need to achieve to get there.
As with any form of sales, follow up is absolutely the most critical element. While it’s important to have variety in our follow up methods - there’s one that stands above the rest, and is also the most effective at connecting with people.
We must use the phone in our follow up, especially texting.
Texting is the most effective, efficient, and scalable follow up method; and it’s most likely to elicit a response from people. This is a part of the follow-up system that we simply can’t skip.
What makes texting such a powerful follow up tool? How can we build it into our marketing and outreach operations? In this episode, I share the one thing you should be doing in your follow up process.
Three Things You’ll Learn In This Episode
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Most deals are not done on the first contact. There should be multiple touch points included in our follow up sequence, including email, traditional mail, voicemail drops and text messages.
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Texting is a simple way to gauge where someone is and if they’re ready to sell. By contacting them regularly, they get to know, like and trust us.
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If we’re going to use text messages in our follow up, there has to be a consistent pattern of contact. Block out time in your schedule to make sure you’re always doing phone calls or voicemail drops. We can also hire someone to text for us.
As we scale our investing businesses, automation has to become a crucial part of our operations, especially on the lead generation and marketing front. One of the most effective ways to scale our lead generation is through the use of voicemail drops.
On a lower level of business, we can get by with just calling people, but this is unsustainable as we grow. Voicemail drops can be as effective as actually having a conversation on the phone because they get to connect with us through our voices.
Including voicemail drops in our follow-up sequence significantly boosts our business and gives us more opportunities to build a deeper connection with our leads.
Where do voicemail drops fit into our 10X follow-up plan? How do they make our marketing feel more human and personal? In this episode, I talk about the power of using voicemail drops in our follow up.
Three Things You’ll Learn In This Episode
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Anytime you’re going to send a text message, you should be sending a voicemail within the same timeframe. It allows them to hear our voice and feel more connected with us even if we didn’t have an actual conversation with them.
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Respond to people using the phone number we originally contacted them with. They have to see the same number and talk to the same person who first reached out.
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The laws of voicemail drops differ from state-to-state. To be on the safe side, check with your TCPA attorney in your area to verify the restrictions and what you can do.
As you grow your business, it becomes critical to build a team around you that allows you to focus on the most productive use of your time. For this, we need to bring in the right kind of talent and if we want to hire and retain the best people, there are certain pieces that need to be in place first.
Without these pieces, it’s hard for the people we hire to succeed and help us achieve our business goals.
Why is it so important for us to have standardized procedures in our operations? What are the key metrics we need to focus on? How do we hold the people we hire accountable? In this episode, I discuss the 3 critical pieces your business needs to have so you can scale a trustable team.
Three Things You’ll Learn In This Episode
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Don’t wait to hire until you have problems and fires to put out. If you’re prepared, you’ll be able to spot a trend fast and hire people early.
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You already have a way you run your day and things you do everyday in your business. That is your system, it already exists. If you document it, a hire can be trained on it.
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If we bring in people without systems, processes and metrics, we’re putting them into a chaotic environment. They won’t succeed and they won’t last.
If you’re an active real estate investor looking for a way to scale, your first thought is to invest in more lead lists, and turn onto the next marketing channel. If you have a database or CRM, you don’t necessarily need more leads; there’s a ton of business already available to you that you can tap into.
The truth is, many investors drop the ball when it comes to lead follow up, so we might be missing out on the gold that’s already in front of us. Going back and refreshing these leads is a highly productive activity.
Where do we look for these leads and how do we reactivate them? In this episode, I share how to quickly and easily increase your leads without investing in new ones.
Three Things You’ll Learn In This Episode
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If you haven’t automated your outreach, you probably have many leads sitting in your CRM waiting for follow-up. These are the names you need to start re-engaging with.
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Old leads in our databases are people who have already expressed interest at some point. That means we’re already in conversation with them, so we don’t have to ask them to opt in again.
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Our databases are going to have people we didn’t follow up with, people no one has been in contact with or people who weren’t ready to sell before and are ready now. That’s why we have to re-engage with them consistently as their needs change.
Real estate investors have their pick of multiple lead sources, channels and ways to get in contact with homeowners, but when it comes to finding motivated leads, not all are created equal.
If we want a business that will give us freedom, financial abundance and long-term steady results, direct mail should be in our arsenal. The reality is, direct mail will always be king. It’s efficient, has less downsides, and has the potential to cut our marketing work in half.
What are the advantages this method has over the other trendier models? How can we do effective direct mail without a massive budget? In this episode, we discuss the marketing channel that puts us in front of the most motivated leads.
Three Things You’ll Learn In This Episode
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With any form of marketing that is an outbound effort you have to reach out to people and hope they respond. With direct mail, you’re putting out a message so they reach out to you.
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After direct mail, the next best lead is the one that’s already in our database. Those are the people we need to re-engage and follow up with consistently.
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Direct mail is one of the best channels in terms of it’s return-on-investment. Even if the leads aren’t ready today, they are the ones most likely to call us back. The more super-niched you get in your lists, the less budget you have to put behind direct mail.
Most of us get into this business because we want freedom and abundance.
Unfortunately, it’s common to find ourselves on a hamster wheel and having to work so much we think we don’t have the capacity to scale. In order to truly have the freedom we seek, scaling is critical.
While scaling looks different to different investors, the goal is the same. It’s to stop being our own bottleneck and to let systems be the driver of our business growth.
What are the simple steps we can take to scale our operation? What is the big lie we need to stop believing? In this episode, I discuss how to get true freedom and abundance by scaling, and how to set the process in motion.
Three Things You’ll Learn In This Episode
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If we buy into the lie that we have to do it all in our businesses, we might achieve the financial results we want, but we will very likely burn out.
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Automation allows for so much more to happen for us without taking up more of our time, so we can focus on the things that matter.
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Fire yourself from all your day-to-day specialized jobs so you can put your focus where you’re most effective. Replace yourself from those jobs with good people.
The 80/20 rule dictates that 80% of our results in business come from 20% of what we do. Unsuccessful investors find themselves spending too much time on tasks that don’t truly drive growth.
The more dialed in we get, the more effective we become at spending our time on high-value tasks and activities. In a real estate business, there are certain activities that require our focus if we want to be successful. There are ways for us to build leverage into these activities so that they can take up even less of our time.
What is the most valuable activity in our business? How do we use leverage to take care of the 80% we shouldn’t be doing? In this episode, we talk about the importance of the 80/20 rule in our business.
Three Things You’ll Learn In This Episode
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You shouldn’t be spending time on anything else except for negotiating and closing deals. That’s what gives you the income, and in turn gives you the freedom to leverage.
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The most essential hire, if we want to dial in our time, is someone that can do prequalifying, data mining and refining.
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Whatever form our follow up takes, the key is to add value and have a call to action.
Whether you’re going from investing on the side to full-time, or you want to grow your investing business; it’s impossible for your business to progress without scaling it.
Scaling means different things to different people, but in this industry, it’s ultimately about making things run more efficiently and building leverage into our operations. Scaling is how we can truly become CEOs of our businesses and focus our time and energy where it’s most valuable.
It doesn’t have to be complicated or expensive to scale. There are a few key points that make all the difference, and if we implement them, we’ll see results quickly.
How do we scale up our lead management and communication? What can we do to reduce wasted time in our businesses? In this episode, we share simple actions you can take right now to add efficiency to your business.
Three Things You’ll Learn In This Episode
Filter your data. We need to go from mass communication to targeting specific groups. It saves time and increases the impact of our marketing.
Once we have our leads managed, we need to be able to talk to them consistently and effectively.
If your business is on the path of growth, it will reach a point where you alone cannot do everything. In this case, the next step to scale is hiring someone.
The whole world is undergoing unprecedented changes in the wake of COVID-19, and the real estate industry is certainly feeling the immediate effects. In light of such enormous changes, it might seem unwise to continue implementing our prior strategies.
We can use this time to reconsider and shift our systems, while staying active and engaged. There are actually still opportunities available for investors, so this isn’t the time to be sitting on the sidelines.
While the Coronavirus is certainly a devastating blow to us all, there is a chance for us to move into a better future. We just have to be willing to keep pushing forward during this time.
In this episode, I share my thoughts on the future of real estate investing with Jay Conner, host of the ‘Real Estate Investing’ Podcast.
Three Things You’ll Learn In This Episode
- Why we shouldn’t use this time to stop operating our businesses
A lot our competitors are using this time to freeze and halt their operations. This gives active investors an opportunity to take advantage of the sudden pause. Now is not the time to watch from the sidelines.
- The importance of lead follow up right now
When contacting leads, be sure to start with the oldest ones. 80% of profit comes from between the 5th and 12th interaction with a client - so don’t be afraid to reach out to people who initially said they weren’t interested in selling.
- Why we need to consider wholesale
Instead of holding onto tons of properties, focus on keeping only those that offer huge renting opportunities. Now is a great time to start wholesaling properties.
Guest Bio
Jay Conner is a real estate investor and President of The Private Money Authority. WIthout using his own money or credit, Jay has mastered the art of using creative methods to buy and sell properties.
For the past 6 years, Jay has been mentoring real estate investing students across the US and Canada. He is also passionate about helping investors take their business to the next level through The Private Money Academy.
Jay is the host of the Real Estate Investing with Jay Conner, the Private Money Guy podcast
To find out more about Jay, head to www.jayconner.com
To take advantage of the Free Gifts mentioned on this episode,
Text 925 320 3080 with your name and ‘Jay’
And go to facebook.com/groups/reibeacon
One of the biggest lies we’ve been taught as entrepreneurs is we need to save money by doing everything ourselves. However, the do-it-yourself option is also a trap.
Is there ever a good reason to do everything ourselves? How can we justify making hires early in our journeys as business owners?
To have successful businesses, we have to think like business owners and leverage wherever we can.
In this episode, we discuss how to get out of the do-it-yourself trap.
Three Things You’ll Learn In This Episode
- As business owners, we need help a lot sooner than we think. By hiring the right people early, we can fast-track our success.
- Operating lean doesn’t mean doing it ourselves - it means hiring smartly and strategically.
- Think like a business owner. Leverage other people’s expertise instead of trying to do everything ourselves.
Guest Bio:
Robert Syfert is the Owner and President of USA Portfolio Real Estate. He is also the Owner and President of Portfolio Property Management. Robert is a member of the Real Estate World Wide (REWW) Mentorship Team.
To find out more about Robert, head to:
https://www.linkedin.com/in/rsyfert
Links and Books mentioned on this episode:
Text ‘podcast’ to 9253200575 for free information and helpful tools
Rich Dad Poor Dad by Robert Kiyosaki https://www.richdad.com/
It’s a proven fact that the agents and investors who are successful right now in real estate have their follow up system and team in place. That includes a highly functioning group that assists in different roles within the follow up process.
Having the intention for outreach is just the first step.
If our goal is to generate more profits, increase revenue and improve efficiency in our operations, we need to invest the time and resources into building and staffing our follow up team. We need a direct and multi-person approach to get in front of people, send them messages that resonate with them and get them to respond.
In this episode, we discuss what it takes to have a leading follow up process, and we share top-secret bonus tips for making our team’s follow up more effective.
Three Things You’ll Learn In This Episode
- The gap between what’s required and what investors are actually doing to succeed
90% of the money is made after the 6th interaction but only 10% of agents and investors follow up more than twice. The teams that are succeeding have built follow up systems that keep the communication going.
- How to be compelling in our follow up
When we do reach out to people, we have to say things that resonate with them. We need unique messages that speak to their problem or pain, and that requires good compelling information and excellent communication frameworks.
- Why we have to hit multiple communication channels
Even though email is a good channel to use for follow up, it only gets opened 20% of the time. Not only do we have to be emailing people, we have to reach out across multiple communication lines.
A lot of factors go into scaling a business effectively and putting the pieces in place that make expansion and results inevitable. Having a team is important, but it can’t be just any team.
It has to be a team that understands leverage and executes on it in various areas of the business. In real estate investing, we talk about leveraging other people’s money, we also need to learn to leverage people’s time and expertise.
What are the key areas we should be focusing on to make sure we multiply the results we get from our business operations? How can we become more strategic at marketing, and even extend this to our sellers? In this episode, we revisit a great conversation we had on Jeff Cohn’s Team Building Podcast. We talk about the benefits of leverage and how to execute it at a high level.
Three Things You’ll Learn In This Episode
Why leverage is the key to scale
If we want to build a business that can grow and go the distance, we can’t do it alone. It’s crucial that we use other people’s skills to improve our time management. It multiplies our effectiveness exponentially.
How to make our offers more attractive to sellers
Give sellers the option of selling their home at the ‘investors price’. While it’s lower than what they’d get for a traditional listing, share the benefits of selling at the investors price.
How to optimize marketing costs and operations
Create an integrated, shared marketing team. Streamlining the process allows you to offer great value to clients at lower rates.
One of the biggest questions real estate investors ask is what they need to be doing right now to guarantee that they get deals 30, 60 and 90 days from today. The answer is follow-up.
We reap what we sow, and follow up is all the sowing that reaps us the rewards. We need to be able to scale up our follow-up so that we’re maximizing every channel and communication we send out. What are the key channels that require our focus, and how do they increase our money making opportunities?
In this episode, we talk about how to scale up our follow-up efforts and how that creates a healthy pipeline of deals.
Takeaways + Tactics
Even in a market where the response rates are terrible, follow up is what will increase the success of our lead generation.
If you use one channel as your follow-up source, you miss up to 75% of your opportunity to make more money. In this episode, we provide the 4-5 channels you should be putting time into.
Call the angry people, they aren’t angry because of you, they are angry because of a financial situation which a real estate investor might be able to help them solve.
Even though it’s been made glaringly clear to us through studies and stats that follow up is where the money is, many investors are doing it ineffectively or not doing it at all.
It’s never been more critical to double down on follow-up than it is right now. An uncertain and shifting market causes many changes in the minds of sellers, but there’s no way to leverage that without a follow-up system.
How do we interact with leads with the right mindset and understanding of seller psychology? How do we build in automated and low-cost follow-up while still doing our part to stay in touch? In this episode, I’m joined by my business partner Robert Syfert as we talk about why a no isn’t a final answer and we share tactics you can take massive action on right now in order to follow up more effectively.
Takeaways + Tactics
Market shifts create trends like panic selling or people moving up their timeline and deciding to sell sooner. This is where follow up is key.
Expect rejection as part of the process of selling right now, but don’t see it as the final answer. Learn how to lay the groundwork to prepare for when that person is ready to sell.
Success in follow-up is all about continuing to communicate so you can craft the right message, to the right person at the right time.
Most real estate investors have dealt with the frustration of old leads - but if we partner up with the right agents, we can convert those leads and make substantial cash. How can we build relationships with agents in our communities? What makes old leads such a great opportunity, and what kind of competition should we expect to see? On this episode, Founder and CEO of The Redux Group and host of the Uncommon Real Estate Podcast, Chris Craddock shares how real estate investors and agents can create symbiotic relationships that turn trash into cash.
Takeaways + Tactics
As investors, we often have a lot of old leads that aren’t going anywhere. Instead of committing our time to them, we should be looking to collaborate with agents who have the knowledge and expertise to make the sale happen.
Investors should be building great relationships with agents, and vice versa. One way to do this is by ensuring we treat everyone better than we would expect to be treated: real estate is a small world, so be sure to help out wherever possible.
iBuyers are generally not interested in old leads - so we have to see this as an opportunity. If we’re able to partner with someone who knows how to sell our old leads, there is a ton of money to be made for all parties involved.
Guest Bio-
Chris Craddock is the Founder and CEO of The Redux Group, and an agent at Keller Williams. He has won multiple Quadruple Platinum Awards through Keller Williams, and is a member of Gary Keller’s Top 100.
Chris also holds a Doctorate in Leadership, and on top of being a multi-millionaire entrepreneur, he is the host of the Uncommon Real Estate podcast.
To find out more about Chris, head to:
https://www.linkedin.com/in/chris-craddock-92100171
Chriscraddock.com
https://www.chriscraddock.com/podcast
Real estate investors often get started with the intention of building a passive income stream, but end up creating full-time jobs for themselves instead. How can we stop ourselves from hustling to the point of burnout? Why do we need to be more mindful of the way we spend our time - and is it possible to stay productive if we choose to cut back on our hours? On this episode, author, podcast host and Founder of Money Ripples, Chris Miles shares how to create a substantial passive income.
Takeaways + Tactics
Stop hustling. We’re constantly bombarded with content that tells us we should be working around the clock, but that can be extremely damaging to our overall health. We should be pushing ourselves for results - but not to the point of burnout.
Our time is more important than money - don’t waste precious hours that could be spent with family or improving our health. We have to always be mindful of how we choose to spend our time.
Prioritize happiness. When we genuinely enjoy what we do, we can achieve so much more in a shorter space of time.
Guest Bio-
Chris Miles is the Founder of Money Ripples, a financial advisor and money mentor. He is also an author and the host of The Chris Miles Money Show podcast.
Chris is known as the “cash flow expert”, and as a leading authority on how to create cash flow quickly, has been featured on platforms including US News, CNN Money, Bankrate.com and Entrepreneur on Fire.
Chris is passionate about helping entrepreneurs and high-income employees become financially prosperous both now and well into the future.
To find out more about Chris, and to listen to his podcast, head to: http://moneyripples.com/
Books mentioned on this episode:
The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field:
https://www.amazon.com/Pumpkin-Plan-Strategy-Remarkable-Business/dp/1591844886
The best way to achieve holistic success is by joining the right Mastermind group. Who should we include in our Masterminds, and what is the optimal size for a productive group? Should we be looking to join groups that focus on one area of life, or that help us improve all aspects? On this episode, co-founder of The Multipliers Mastermind, Chris Arnold shares how to get the most out of our mentoring groups.
Takeaways + Tactics
We can’t run the race to success alone, so to get the most out of our Masterminds, we have to be surrounded by quality people. Having the right people around us makes all the difference.
Stay small. A lot of people gravitate towards big Masterminds because we think that’s where we’ll get the best results - but in reality, we should keep our groups small and more focused.
Focus on more than just business. The best Masterminds allow us to improve every aspect of our lives, from finances to faith and family.
Guest Bio-
Chris Arnold is one of the founders of The Multipliers Mastermind. He is also the founder of COSA Investments and Arnold Elite Realty. Chris holds a Masters Degree in Theology, and while he’s been extremely successful in real estate, he’s always viewed it as a vehicle to impact other people’s lives.
Chris’s underlying passion is people, and he loves coaching others to fulfilment. He recently launched the REI Radio coaching program, designed to teach real estate Investors the Marketing stream that everyone knows about but no one is doing.
To find out more about Chris, head to https://themultipliersmastermind.com/the-room
Books mentioned on this episode:
Organizational Physics - The Science of Growing a Business by Lex Sisney https://organizationalphysics.com/
As business owners, we should be constantly working towards exiting our daily operations. What can we do now to ensure our eventual exit goes smoothly? Who should we be hiring first - and which activities do we need to give up if we want our businesses to level up? On this episode, co-founder of Next Level Flipping, Ryan Robson shares how to hire the right people and exit our operations.
Takeaways + Tactics
A lot of investors forgo a salary and choose to live off their net - but this can cause problems when we decide to exit operations and hire a CEO. Build in CEO salaries now, to ensure a smoother transition later.
When hiring, we should start with the things we’re least good at. Instead of wasting time trying to complete these tasks, outsource these activities to increase your productivity.
Be ready to give up enjoyable tasks. Even the activities we’re best at will need to be outsourced eventually if we want our businesses to scale effectively.
Guest Bio-
Ryan Robson is one of the co-founders of Next Level Mastermind. He is passionate about teaching others how to partner with and hire the right people at the right price, make more money by getting better while staying small, and the do's and don'ts of managing high-end flips.
Ryan is also focused on teaching the importance of networking and masterminding. As a father of three, Ryan also believes in helping people set goals around family, over material things. Ryan holds a degree in accounting, and strongly advocates for other flippers to study finance if they want to take their business to the next level.
To find out more about Ryan and to contact him directly, head to:
https://nextlevelmastermind.com/
https://www.facebook.com/ryan.robson.77
Books mentioned on this episode:
Clockwork: Design Your Business to Run Itself by Mike Michalowicz (audiobook)
Traction by Gino Wickman
Multipliers: How the Best Leaders Make Everyone Smarter by Liz Wiseman
It’s inevitable that we’ll see a market turn in the next few months, so investors should consider moving into a space that is isolated from the general market - probate real estate. How can we find probate real estate opportunities, and what do we need to know to get started in the space? Is there anything we need to avoid doing when contacting the family members of deceased property owners? On this episode, podcaster, coach and real estate investor, Sharon Vornholt shares how to get started in probates.
Takeaways + Tactics
Look for probates in the local newspaper. This may seem old-fashioned - but it’s for precisely that reason most other investors stay clear. This makes the probate space relatively competition-free.
To get started in probates, find four pieces of information, the name and address of the deceased, and the name and address of the executor.
Don’t send a condolence card. While it may seem like the obvious conversation starter when we know a person has died, we may appear opportunistic if we send our condolences in an advertisement.
Guest Bio-
Sharon Vornholt is a wholesaler, coach and blogger at Louisville Gal’s Real Estate Blog. She is also the host of the Let’s Talk Real Estate Investing Podcast. Sharon is also the creator of the Probate Investing Simplified course.
With over 20 years in the business and a phenomenal track record, Sharon is something of an expert in probate real estate.
To find out more about Sharon, head to
https://louisvillegalsrealestateblog.com/my-story/
https://louisvillegalsrealestateblog.com/podcasts-lets-talk-real-estate-investing/
https://probateinvestingsimplified.com/
If we want to see the best results in all areas of our lives, we have to start prioritizing our day effectively. Is there a simple way to decide what matters most - and how should we be prioritizing our time to ensure we make the most of every moment? Why is it so important to build the right habits now? On this episode, bestselling author and Vice President of KellerINK, Jay Papasan shares his steps to prioritize successfully.
Takeaways + Tactics
Keep it simple. We’re all attracted to sophisticated, intricate systems, but in reality these don’t last long. Find an uncomplicated and effective way to manage time, and stay consistent.
Prioritize the most important activity, not the easiest one. When people start with the most important task, they often find themselves completing or combining numerous items.
Be consistent. Creating effective habits is the key to success - even if we’re only making one focused call a day, we’ll be more likely to see consistent long-term results than someone sporadically making 100 calls.
Guest Bio-
Jay Papasan is a bestselling author, an executive at Keller Williams Realty Inc., and a co-owner of KellerINK, Keller Capital, and Papasan Properties Group.
His most recent work with Gary Keller, The One Thing, has sold more than 1.5 million copies, been translated into 35 languages and appeared on more than 500 national bestseller lists including #1 on the The Wall Street Journal’s hardcover business list.
To find out more about Jay, head to:
Theonething.com
https://jaypapasan.com/
Books mentioned on this episode:
Team Building Podcast
https://podcasts.apple.com/us/podcast/team-building-podcast/id1136877230
Commercial real estate offers investors amazing opportunities. How can we enter commercial real estate and see great results, while discovering the perfect properties for our needs? Is there a set standard for the ‘perfect’ commercial property? In this episode, author and founder of InvestFourMore, Mark Ferguson shares how to cash in with commercial real estate.
Takeaways + Tactics
When entering the commercial real estate space, it’s a good idea to have a broker assist us to ensure we get the best deals.
If our strategy to buy commercial real estate is sending out direct mail, be mindful of who we’re sending it to. Send it directly to the LLC, or property owner.
Don’t have a set criteria in place for commercial real estate. Instead, focus on the prospective value of each individual property and market it accordingly.
Guest Bio-
Mark Ferguson is a licensed real estate investor, house flipper, and founder of InvestFourMore.com, a blog focused on helping investors. Although he was initially hesitant to enter real estate, after graduating from University of Colorado with a degree in Finance, he fell in love with the industry and hasn’t looked back since. Mark is the author of 8 books, including among others Build a Rental Property Empire, Fix and Flip Your Way to Financial Freedom and How to Make it Big as a Real Estate Agent.
For more information on Mark, and to find his books, head to http://investfourmore.com/
Strong business leaders always try to emulate and improve upon the successes of entrepreneurs with proven results. How can we achieve the same outcomes as billionaire business owners? Is a formal higher education required to compete at the top levels of business? In this episode, serial entrepreneur, coach and real estate developer, Greg Dickerson shares how to build a successful and sustainable real estate business.
Takeaways + Tactics
Develop a strong mindset. There’s no reason we can’t achieve the same phenomenal results others have before us, so we have to go into entrepreneurship believing we’re capable of anything.
Build on knowledge. This doesn’t need to be in the form of a college education, it’s as simple as reading widely and being in a state of perpetual learning.
Leverage wherever possible. The most successful business owners are leveraging tasks to other people - if billionaires are seeing results, so will we!
Guest Bio-
Greg Dickerson is a serial entrepreneur, real estate developer, coach and mentor. Over the past 23 years he has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings and started 12 different companies from the ground up.
Greg is an expert on the topics of entrepreneurship, real estate development and all aspects of real estate investing. He has spoken at industry conferences and mastermind events around the country, he's been a guest commentator on Fox Business with Neil Cavuto and The Dave Ramsey Show and is regularly interviewed on the top business and real estate investing podcasts.
To find out more about Greg, head to gregdickerson.com
Books mentioned on this episode:
Rich Dad, Poor Dad by Rober Kiyosaki
One Minute Manager series by Kenneth H. Blanchard
Managing by Harold Geneen
As business owners, we strive towards generating wealth - but abundant wealth is meaningless if we don’t also enjoy good health. How can we start making healthier choices without falling into the trap of fad diets? Do we need to constantly be calorie counting? Should we be limiting our meal times? In this episode, national speaker, podcast host and bestselling author, Ben Azadi shares how to tackle the Keto lifestyle.
Takeaways + Tactics
Stop dieting and start making lifestyle changes. Keto is more than a diet, it’s a sustained metabolic process.
Quit counting calories. Calories are really a distraction from the bigger issue of poor health - and many products advertised for having low calories are loaded with harmful ingredients.
Work towards practicing intermittent fasting - but only after embracing keto lifestyle choices. Take deliberate daily steps to a healthier lifestyle.
Guest Bio-
Ben Azadi is a three-time bestselling author, national speaker and Keto coach. After struggling with obesity, Ben decided to embrace a Keto lifestyle - and hasn’t looked back. Today, he is passionate about helping people realize their health potential to ensure they live fuller lives. Ben is the host of the Keto Kamp Podcast.
To find out more about Ben, head to:
Ketokamp.com
http://www.benazadi.com/
https://www.youtube.com/channel/UCUh_MOM621MvpW_HLtfkLyQ
https://onlineoffer.lpages.co/new-keto-kickstart-guide/
https://ketokamp.clickfunnels.com/optin32948521
Books mentioned on this episode:
The Intermittent Fasting Cheat Sheet: Discover How This Ancient Practice Can Transform Your Health by Ben Azadi
The Perfect Health Booklet: Simple Steps Proven to Transform Your Health by Ben Azadi
The Power of Sleep: Effective Strategies to Switch Off Your Brain, Stop Hitting Snooze, Wake Up Energized, and Own the Day by Ben Azadi
The Perfect Health Booklet: How to Achieve Perfect Health by Ben Azadi
Private lending is one of the most effective ways to generate wealth - but it does present some risks, so we need to ensure we protect ourselves. Is it ever a good idea to agree to a loan without paperwork? Who should we be lending to, and should we always evaluate our current financial position before making a deal? On this episode, host of the Private Lender Podcast, Keith Baker shares how we can protect ourselves as private lenders.
Takeaways + Tactics
Don’t loan anything until paperwork has been signed. Paperwork protects us, and should be drawn up by licensed professionals - we should never try doing this ourselves.
Work with people who have skin in the game. Our borrowers should have at least 10% of their own cash in the deal.
Avoid taking on second positions. The risk skyrockets with these investments, so wherever possible, stick to first position loans.
Guest Bio-
Keith Baker is the co-founder of Asset REI, LLC, and the host of the Private Lender Podcast. After learning many lessons the hard way throughout his career in construction and real estate, Keith is passionate about teaching his listeners about the benefits of private lending done the right way.
To find out more about Keith and to listen to his podcast, head to www.privatelenderpodcast.com
Self storage is known for being a great way to generate passive income, but is it really as passive as we’ve been led to believe? Can we rely on it as our sole source of income? Where should we be establishing self-storage units? In this episode, founding member of Bitterroot Holdings and host of the Cashflow 2 Freedom and Self Storage Income podcasts, AJ Osborne shares how to create passive income with self storage.
Takeaways + Tactics
Use self-storage to generate passive income- but be mindful that there are a lot of exaggerations about how easy they are to operate.
Maintain multiple income streams. Many self storage property owners give up their jobs as soon as they see a profit- but for more sustainable results we should be combining active and passive income streams.
It’s vital that we set up our self storage businesses in high-occupancy markets.
Guest Bio-
AJ Osborne is a founding member of Bitterroot Holdings and Keylock Storage. With over 15 years of experience purchasing and building storage facilities across multiple states, AJ is something of an expert. He shares his knowledge through two podcasts- Self Storage Income and Cashflow 2 Freedom. AJ is a fierce advocate for multiple income streams, since surviving Guillain-Barré syndrome.
To find out more about AJ, follow him on Instagram: @ajosborne
You can also listen to his podcasts on www.selfstorageincome.com
And cashflow2freedom.com
Books mentioned on this episode:
The Warren Buffett Way: Investment Strategies of the World's Greatest Investor by Robert G Hagstrom
Real estate is a people’s business, so to be successful in the industry, investors must make the most of the connections they build with others. Why is it necessary to network with potential lenders - and are there any advantages to teaming up with other investors? In this episode, Managing Principal at GenWealth Capital Group and host of the Commit to Wealth podcast, Juan Vargas discusses how to make the most of relationships in real estate.
Takeaways + Tactics
Don’t go it alone. As business leaders we should be leveraging the skills of others, instead of trying to do everything ourselves. We have to have teams in place if we want to see results.
When raising money, it’s important to network effectively. Don’t be afraid to talk to other industry professionals, join masterminds and meet new individuals. The only way to raise money is by actively engaging with potential lenders.
Team up with other investors, and be willing to take a smaller percentage of the financial rewards. A smaller percentage over a longer period is a great incentive.
Guest Bio-
Juan Vargas is a multifamily investor and syndicator, and the Managing Principal at GenWealth Capital Group. He is also the host of the Commit to Wealth podcast. Juan first entered the investing space when he was looking for a way to spend more time with his sons, and today he is passionate about the opportunities real estate investing offers to those looking for a passive income.
To find out more about Juan, visit
https://www.linkedin.com/in/thejuanvargas
https://thejuanvargas.com/
You can also find him on Instagram: @thejuanvargas
And email him on juan@genwealthcapital.com
Other resources mentioned on this episode:
Cashflow Quadrant by Robert Kiyosaki
Good to Great: Why Some Companies Make the Leap...and Others Don't by James C. Collins
New real estate investors often find it daunting working with potential sellers, but as long as we approach them from a place of empathy, there’s no need to be intimidated. How can we stop ourselves from being discouraged when we are told ‘no’? Why is it so important to show a desire to help sellers, and how can we show that we are genuine in that desire? In this episode, business performance and accountability coach Julia Jordan and President of NuAvenue Assets, Alan Weeks join for a discussion on how to find sellers by exercising empathy.
Takeaways + Tactics
Never assume to know anything about a potential seller on the first call. In fact, the first time we speak to a seller, we should go in expecting to hear ‘no’.
Successful real estate investing comes as a result of building successful relationships. Ensure that sellers know our primary aim is to help find a solution to their problems.
At a meeting with sellers, it’s a good idea to go in empty-handed. Leave any books or documents in the car, and use the time to genuinely engage with the sellers.
Guest Bio-
Julia Jordan is an independent business performance and individual accountability coach, and Gary Boomershine’s ‘right-hand gal’. Julia strongly believes that effective communication and a healthy company culture are the key to success, and loves helping people change their lives and achieve anything they put their minds to.
To find out more about Julia visit: https://www.linkedin.com/in/julia-jordan-42b37a10?trk=people-guest_profile-result-card_result-card_full-click
Alan Weeks is the President of NuAvenue Assets, LLC in Fort Lauderdale, Florida. After a successful career in digital marketing, Alan fell in love with real estate. He is passionate about providing single and multi-family Real Estate opportunities and solutions by using cutting edge marketing strategies. Alan strongly believes in building genuine relationships with his clients, and in every transaction ensures their every need is catered for.
To find out more about Alan, visit:
https://www.linkedin.com/in/alanlweeks
https://nuavenueassets.com/
You can also email him at alan@nuavenueassets.com
Raising private money is extremely important for a real estate investing business, so we need to develop the right strategies to attract capital. When is the right time to look for lenders, and how should we approach them? Why should we be aiming to teach people about the benefits of being a private lender? On today’s episode, President of The Private Money Authority, Jay Conner shares how to attract potential lenders and raise private money without asking for it.
Takeaways + Tactics
Don’t wait to raise money. We should be finding private lenders 24/7, not waiting until we need to fund a deal.
When we find potential lenders, it’s important that we don’t overwhelm them. Never show the program and deals at the same time - give lenders a chance to digest the opportunities.
Aim to teach people about the benefits of being a private money lender. People are much more open to doing business when they don’t feel like their arm is being twisted.
Guest Bio-
Jay Conner is a real estate investor and the President of The Private Money Authority. He is the man behind the “Where to Get the Money Now” system, a strategy designed to help anyone raise money in under 90 days.
Jay is confident that by replicating his steps, borrowers can learn to raise money without ever asking for it. Jay is also the host of the Real Estate Investing with Jay Conner, The Private Money Authority podcast.
To find out more about Jay and to take advantage of his free resources, head to:
www.jayconner.com
www.jayconner.com/moneywebinar
You can also go to:
realestateinvestor.com/best
Other resources mentioned on this episode:
Pre-Suasion: A Revolutionary Way to Influence and Persuade by Robert Cialdini
To create and foster long-term success, we need to find more creative ways to finance our investments. Is there ever an appropriate time to use our own money to buy houses? What should we be doing with the money generated from temporary strategies, and where are the best places to invest for forever strategies? On this episode, veteran real estate investor and author of the My Life & 1000 Houses Series, Mitch Stephen shares his insights on creative funding.
Takeaways + Tactics
No matter how much money we have access to, we should never use it to buy houses. Have creative strategies in place and use private money.
Use the money generated from temporary cash strategies to fund ‘forever’ strategies. All the money we make from temporary strategies should be put back to work.
One of the best places for us to invest in is a storage facility, where we can avoid too many overhead costs.
Guest Bio-
Mitch Stephen is a real estate investor, and the author of the My Life & 1000 Houses book series. With over 25 years of industry experience, Mitch has bought over 2000 houses in San Antonio. Today, he specializes in owner financing properties to those left behind by traditional lending institutions. Mitch is a firm believer in the value of integrity, and gives speeches on its importance.
To find out more about Mitch, and to purchase his books, head to https://1000houses.com
reivault.com/1000houses
Canyonlakestorage.com
Real estate investing operations lean heavily on sales and marketing, and like anything that involves marketing, it’s all about maximizing ROI. How does getting a coach help our businesses perform at a higher level? How do we make sure we’re investing our time wisely? What does it take to run an operation that will bring us long-term wealth? On this episode, investor, coach and author of The Ultimate Guide to Wholesaling Real Estate, David Dodge shares on how we can get more out of our businesses with leverage and a solid funnel.
Takeaways + Tactics
- 90% of our business is sales and marketing. In practice, our business is marketing and our product is real estate.
- There’s cash now, cash flow and cash later. Cash now is a job, cash flow is rentals and leverage using real estate, and cash later is appreciation of the assets.
- Don’t make building your buyer’s list your main goal, focus on marketing for motivated sellers.
Guest Bio-
David Dodge is a real estate investor, coach, author of The Ultimate Guide to Wholesaling Real Estate, and host of the Discount Property Investor podcast.
Buy the book The Ultimate Guide to Wholesaling Real Estate here.
To learn more about the podcast visit http://discountpropertyinvestorpodcast.com/.
To be successful in the real estate investment space, we have to build teams that can withstand competition. Who should we be including in our teams, and why is it vital to find a mentor? Should we be shying away from competition or embracing it? On this episode, author and host of The Real Estate Locker Room Podcast, John Carney shares how to compete in the real estate investing space.
Author, podcast host ‘the real estate locker team’
Takeaways + Tactics
- Build a strong team. As leaders, we simply can’t do everything ourselves - we have to surround ourselves with people who are better than us at specific activities.
- The most successful people typically tend to be the most humble, so drop the ego at the door and look for mentors to assist every step of the way.
- Embrace competition. Instead of seeing competitors as a threat, we should take the opportunity to improve our own products and see how they compare.
At the start of this episode, we discussed the importance of building effective teams. After explaining why entrepreneurs should know a little about a lot of things, instead of a lot about too few things- we spoke about which positions we need to fill on our teams first.
We also discussed:
- The importance of creative responses to competition
- How to follow up with clients more effectively
- Why we need to focus on perfecting little details
Guest Bio-
John Carney is a real estate entrepreneur, author, speaker and podcast host. He is highly respected in the real estate investing space, thanks to his impressive track record in the US, Australia and Indonesia. His international success has led to his popularity as a sought-after international keynote speaker. John is the host of The Real Estate Locker Room Podcast.
To find out more about John, visit https://johncarneyonline.com/
Very few people are finding success doing deals on the MLS, but our guest today gets an average of 1.5 deals a week from it. What strategies is he applying to get these results? How is he scaling the model? How does he make contracts more attractive to sellers? On this episode, real estate investor, podcaster, and founder of Category 1 Realty, Raul Bolufe shares his winning MLS strategy.
Takeaways + Tactics
Forget emotion, execute anyway
To be consistent, we need to be taking action and not let emotion get in the way of execution. Once we conquer the emotion, we overcome our reservations and that makes success a lot more predictable.
Get good at scaling systems and sales
To be successful on the MLS, you need to be proficient at analyzing and brokering deals. Whether it’s you or someone you hire, it’s important to bring speed to deal analysis, which allows us to scale up faster. Treat the MLS like any other channel, as a consistent and scalable campaign.
Deal renegotiation strategies and hacks
Get the property under contract, take your own photos to support what you’re saying, get buyer insight on there price tolerance, and always send your photos and information before the inspection period ends.
Guest Bio-
Raul Bolufe is a real estate investor, podcaster, and founder and owner of Category 1 Realty. For more information, visit https://raulbolufe.com/, and follow him on Instagram.
Listen to his podcast Flipping Miami on your preferred podcasting platform.
The US is currently dealing with a mountain of debt, so to offset the issue the government is likely to inflate its way out of the problem. Is inflation inherently ‘bad’ or can real estate investors benefit from it? How can we play by the government’s rules and make the most of inflation? On this episode, author, entrepreneur, speaker and host of the Creating Wealth podcast, Jason Hartman shares how to use inflation to our advantage.
Takeaways + Tactics
Rethink inflation and start seeing it for what it is: the best method of wealth redistribution.
Inflation lowers the buying power of the dollar. We can use that to our advantage by taking out long-term fixed rate loans now, while they’re still cheap.
Use loans to buy commodities with intrinsic real value, like glass, copper wire and concrete. These can be tied up as a commodities package in the form of a house.
Guest Bio-
Jason Hartman is the founder and CEO of Platinum Properties Investor Network, The Hartman Media Company and The Jason Hartman Foundation. After entering the real estate business while still in college, Jason brokered properties for clients while investing in his own portfolio. Soon after his debut in the industry, he joined the ranks of the top one percent of Realtors in the US and became a young multi-millionaire.
Since then, he has expanded his talents into becoming a successful entrepreneur, public speaker, author, and media personality. Jason is also the creator of the Complete Solution for Real Estate Investors™ and the host of the Creating Wealth Podcast.
To find out more about Jason, head to
https://www.jasonhartman.com/about/
https://www.jasonhartman.com/books/
https://www.jasonhartman.com/podcast/
We’re operating in a very competitive market, so as business owners we have to ensure we have tried-and-tested methods in place to attract top talent to our organizations. Do we need to make changes to our recruitment process and should we be disregarding the concept of hiring slow and firing fast? Once we’ve successfully recruited top talent, how can we retain them long-term? On this episode, bestselling author, speaker and recruitment expert, John Pyke shares how to consistently hire and retain top sales performers.
Takeaways + Tactics
- Stop relying on DISC assessments and interviews for recruitment. We can only learn 12% of what we need to know from these - not nearly enough to make an informed decision.
- Disregard the concept of hiring slow and firing fast. In a market with a scarcity of talent, we don’t have the luxury of hiring slow - we have to hire and fire fast.
- To maintain top talent, offer a hybrid payment model that provides some guaranteed income, as well as commission.
At the start of this episode, we shared that good salespeople have a shared DNA- and no amount of training or mentoring can substitute for that DNA. We also explained what top sales performers have in common that average agents don’t, and pointed out flaws in the traditional recruitment process.
We also discussed:
- How to change our approach to interviews
- The mediums we should be using to approach top talent
- Why we can’t afford to be frugal when it comes to recruiting top performers
Guest Bio-
John Pyke is The Talent Genius - a sales expert, consultant, and speaker. He is also the bestselling author of The Talent Genius: How The Top 1% of Realtors Build World-Class Teams, and the upcoming Hire Fast, Fire Fast. John is an international award-winning hiring expert and a strong advocate for using tested, scientific methods in the recruitment process.
To find out more about John, visit:
https://www.thetalentgenius.com/sales-recruiter/
https://www.linkedin.com/in/thetalentgenius
LINKS AND BOOKS MENTIONED IN THIS SHOW:
Traction by Gino Wickman
It’s easy to neglect our health while we’re running businesses, but to maximize our success we have to start with ourselves. How can we stay accountable while on our journeys to better health? Should we dive into a new exercise and eating plan all at once? What are the risks of postponing our goals? On this episode, CrossFit Templum owner Eric Wrona shares how to become the healthiest, most successful versions of ourselves.
Takeaways + Tactics
- Hire a coach. Having someone dedicated to holding us accountable will bring us better results - we don’t have to do this alone.
- Take baby steps. If we immediately jump into a strict eating plan and strenuous exercise, we’ll be overwhelmed and more likely to give up.
- Stop postponing health. Setting goals to start practising a healthier lifestyle only slows us down. To change our unhealthy habits, we have to start immediately.
Guest Bio-
Eric Wrona is the owner of CrossFit Templum. With over 17 years in the fitness industry, Eric is an expert at helping his clients become the best healthiest versions of themselves. He holds a Bachelor’s Degree in Exercise Science, as well as a Masters Degree in Kinesiology, and is passionate about helping people achieve their fitness goals.
To find out more about Eric and CrossFit Templum, visit http://www.crossfittemplum.com/
You can also follow him on Instagram at @wronafit
And email him at ericwrona@gmail.com
Succeeding as an investor has a lot to do with being able to sell effectively to homeowners. What are the key sales tactics and principles we should be employing when we are talking to sellers? Why is it so important for us to focus on bringing viable solutions to the table? On this episode, investor and REI Vault member, Tyler Amburn shares success tips from a recent deal, and the key strategies we employed to make it a success.
Takeaways + Tactics
- Negotiate with the buyer first because you don’t want to renegotiate with a seller multiple times.
- Use storytelling tactics to paint a picture, forward pace and always make it a win for the seller.
- Never argue with a seller, you’ll always come off second best. You want to look for a win-win solution for all parties involved.
- Don’t go into the house hungry to make money, go in with a servant heart and a goal to solve their problem.
Real estate can be a path to great wealth and financial freedom, but it’s also easy to end up on the wrong path. What are the key investing strategies we should be using in this market? Why are masterminds and personal coaching so important? On this episode, I am joined by entrepreneur, author and founder of Rebus University, and Gobundance, Pat Hiban. We talk about how to survive and thrive in this business and build wealth the right way.
Takeaways + Tactics
- We’re in a euphoric stage in the real estate market, but while there seems to be a ton of opportunities, we shouldn’t be holding onto a lot of rehabs.
- The value of being around higher caliber people is something we should never underestimate when we want to be successful.
- Financial freedom can fix relationships and our health. The pursuit of wealth and success often affects others key areas of our lives negatively.
There are many doors to open in a functional real estate operation. Some lead to wealth and a solid business while others can be traps, dead ends and rabbit holes. In order to take the right path, it’s important to read the signs of the market and act on the best opportunities. Right now, it seems there are many opportunity zones to take advantage of, but just because everyone else is talking about doing a rehab, doesn’t mean it is in our best financial interest to follow suit. Like Pat Hiban, the key is looking forward to the coming opportunities, so that we can only invest in fundamentally sound ventures.
One of the biggest things happening in our industry right now is the influx of investor money. There is a great opportunity for us to grow our businesses, add more volume and increase our bottom line. What is Snap Offer and how is our guest, Erik Hatch, using it to boost his business? How can we leverage these tools and create distinct advantages against big box companies and Wall Street? On this episode, coach and investor, Erik Hatch shares how Snap Offer works and why it’s such a great source for qualified leads.
Takeaways + Tactics
- Sellers who are using iBuyers are looking to escape some of the frustrations that come with selling a house; and they are willing to forgo equity for it.
- There are 127 million single family properties in the US and 18 million of those are inherited properties or owned by disinterested landlords. Most investors are missing a great opportunity by not targeting them.
- If we have a real estate team and are looking to launch our investing operation, we should have a cash buyer on our team. If we’re investors, we should be looking to add quality realtors to our investment personnel.
Through Snap Offer, Erik Hatch has added $400k in commissions, 100 transactions, and $100k in equity to his bottom line. iBuyers have value because they offer many sellers what they are looking for, which is a first class service along with immediacy and convenience. It’s important to add this functionality to our businesses because it makes us more versatile. If we build multiple tools into our operations, we’ll be better prepared to respond to shifts in the market.
As we get closer to a market shift, all the top investors are rolling up their sleeves and getting ready to capture the opportunities that will come. What are the key activities we need to build into our businesses to grow during the correction? How do we create long-lasting wealth? Why is competing on price alone not good enough in this market? On this episode, we’re joined by longtime friend and successful investor, Steve Carlson. We discuss lessons we’ve learned along the way, and how Steve is creating a Wealth Machine.
Takeaways + Tactics
- Every market shift is preceded by a euphoric stage. This is when money is easy to get but deals get harder to come by. Sellers start having unrealistic expectations and then venture money starts pouring into the market. It’s what we’re witnessing now.
- Owning rental properties free and clear is the path to permanent wealth. Debt eats into cash flow and makes it impossible for us to get off the hamster wheel.
- In this market, we can’t compete on price, but we can beat the competition by bringing multiple offers to the client. It’s about collaborating with the seller to create an offer that’s valuable and worthwhile to them.
Real estate investing gives us the chance to build permanent, generational wealth. Yet in order to do so, we need to have a vision that goes beyond making money for now. We need to focus on the strategies we’re implementing, dial them in to make them work, improve them, and scale them so we can achieve that long-term vision. Without commitment, it’s impossible to capture the opportunities that come when the market turns.
As real estate investors, it’s important to have a system, not just for what we do but for tracking all our numbers. What are the key numbers and metrics we should track? How can we bring creative offers to the table when we talk to sellers?
On this special training episode, you will learn about the EOS scorecard and how to use it to grow your investing operation.
3 Things We Learned
If your phone team is dialing for dollars, out of 100 dials, they will connect to 12-14 sellers.
Your profit-per-phone-conversation is an incentive to get your sales process right.
There needs to be a way to track offers so that you know how many offers to get a signed contract.
Our success in investing comes down to us getting down to the granular details of everything in our businesses. We need to plan goals for where we need to be, and in order for us to get those goals correct on a weekly, monthly, quarterly and annual basis, we have to track every single activity in our business. It allows us to hold our people accountable and know what needs to be done in order to grow.
Guest Bio-
Joe Hartman is a real estate investor and a member of REI Vault. Go to https://www.phigllc.com/ for more information.
With all the online marketing tools we have at our disposal, it might seem that direct mail is becoming a thing of the past - but that couldn’t be further from the truth. Why is direct mail still effective, even in the digital age? How can we create mail that delivers results?
On this episode, founder of Graphic Connections Group, Jeff Charlton shares why direct mail is still one of the most effective ways to boost our brands.
3 Things We Learned
Direct mail is still an effective marketing method for investorsDespite the popularity of online platforms, when it comes to real estate investing, direct mail is still incredibly effective. This is because it’s a proven system, as well as being repeatable, scalable and measurable. It’s also an easy process, if done the right way.
Quality is keyTo get results from our direct mail, we have to ensure what we send is high quality. Stop fretting over pennies - if we track the results of our direct mail, it becomes easy to see that the costs are well worth it.
Follow up is also important in direct mailFollowing up with the recipients of our mail is critical - if we’re not following up on our leads we’re just wasting time. Once direct mail has been sent, we need to start making phone calls to the recipients.
We often think that marketing is moving to the online world, but that’s not always the case. Particularly in the case of direct mail, tried and tested options are not likely to die out anytime soon. To send successful direct mail, we need to concentrate on quality. Then, it’s up to us to follow up.
Guest Bio-
Jeff Charlton is the founder of Graphic Connections Group. The entrepreneur believes in delivering high-quality products and going the extra mile to give his clients the best service possible. Jeff started Graphic Connections Group, in his basement in 1992, and in 2000 went on to acquire other printing and graphic design companies. In 2012, he acquired the Independent Publishing Corporation, with the intention of helping small authors self-publish.
To find out more about Jeff, visit https://www.reiprintmail.com/blog/meet-the-team/
And https://www.linkedin.com/in/jeff-charlton-34a8a17
There is so much uncertainty about the market at the moment that it’s become vital for real estate investors to set themselves apart from their competitors. How can writing a book differentiate us from other investors, and how should we structure a book that promotes us? Is there a ‘right’ time to share our stories and principles for success?
On this episode, creator of The 7-Hour Book, Nick Raithel shares what the process entails.
3 Things We Learned Books boost credibilityBeing able to hand a book to potential sellers immediately gives us a layer of authenticity. Having a book shows our clients that we are serious about what we do. By having a published book, we can gain trust and build rapport much faster.
Keep it simpleOur books should concentrate on 4 principles, and then offer some insight to our backgrounds. This keeps the content easy to process, and ensures the book stays focused. The insight to our personal lives helps the reader bond with us and shows our human side.
Don’t wait - write it nowSo often, people wait to share the perfect idea. That’s not necessary. Rather than letting the search for perfect content stop us, we need to share what we do know and use well-known quotes and examples to back it up.
In the current state of uncertainty in the market, we have to demonstrate to our potential clients that we are the most obvious choice. Writing a book gives us a chance to do that, as well as help us build emotional connections with our readers. The process doesn’t need to be difficult - as long as we keep it simple, we can get started right away and start building a great platform for ourselves.
Guest Bio-
Nick Raithel is the creator of The 7-Hour Book, a system designed to help entrepreneurs accelerate their success by writing a book that only takes 7 hours of their time. Nick is passionate about helping entrepreneurs get the recognition they deserve, without needing to worry about how long it will take. He firmly believes that everyone who has something to say should be given a platform.
To find out more go to
https://themoneyadvantage.com/nick-raithel-the-7-hour-book/
And contentcorps.net
Ready to discover the power of a 40 person marketing & sales team...WITHOUT having to hire a single person? Visit REIvault.com to learn more.
Real estate investing may involve property, but at its core it’s a people game. How can we build rapport with potential clients, and is it possible to get business even when we’re unable to assist sellers? How can we market ourselves by using testimonials and online tools?
On this episode, real estate investors at MS Home Buyers, Brent Moreno and Adam Johnson share how building relationships and simplifying our marketing can take our business to the next level.
3 Things We Learned
Focus on building relationshipsReal estate investing is a people game, so don’t spend too much time worrying about houses themselves. Instead, focus on building rapport with sellers by being upfront about what we can do for them. It’s always a good idea to maintain our integrity: if we can’t solve a seller’s problems, we should refer them to someone who can. We may even get referrals from those we couldn’t help because of our honesty.
Make use of testimonialsTestimonials are extremely important in this day and age. If clients are willing to provide a testimonial of their experience with us, we should always take them up on the offer. We should be giving our clients so much value that they would be happy to let the world know about it.
Follow upA major problem with Facebook advertising lies with real estate investors themselves. We need to do more than post an advertisement and wait for someone to approach us. To make the most of our online marketing efforts, we need to retarget those who click on our ads and follow up repeatedly.
To get ahead in the real estate investing space, we need to shift our focus from houses themselves, to the sellers. Rather than focusing on homes, we need to identify seller’s problems and be upfront when we’re unable to solve them. By offering integrity, we can create great relationships and referral opportunities. Once we receive testimonials from happy clients, we can share them as part of our marketing. Then, it’s up to us to follow up with those who show interest in the testimonials we share.
Guest Bio-
Adam Johnson is a real estate investor and the Managing Member at MS Home Buyers. He is also an investing coach and public speaker. Adam has a reputation for excellence and integrity, and is passionate about offering his clients as much value as possible.
To find out more about Adam, visit https://www.linkedin.com/in/adam-johnson-1a199544
Brent Moreno is a real estate investor and partner at MS Home Buyers. While relatively new to the real estate industry, Brent has a strong background in marketing. He is adamant that by simplifying marketing, people can see tremendous results.
To find out more about Brent, visit https://www.linkedin.com/in/brent-moreno-6a638211
To find out more about MS Home Buyers and to see their live Q&A every Tuesday, head to https://www.facebook.com/mshomebuyers/
And to attend their upcoming event, visit www.rerlive.com
Book mentioned on this episode:
Competing on Value by Mack Hanan and Peter Karp
Ready to discover the power of a 40 person marketing & sales team...WITHOUT having to hire a single person? Visit REIvault.com to learn more.
When investing in real estate, we need to avoid making mistakes with ARV and repair value. How can we provide sellers with more realistic numbers, that both they and our contractors can trust? Is there a baseline we should be using to ensure more accuracy?
On this episode, co-creator of Rehab Estimator Pro, Matthew Hedstrom shares how the estimator tool streamlines transactions and can help us win more deals.
3 Things We Learned
Offer more trustworthy numbersMiscalculating ARV and repair value has a devastating impact on transactions, so we need a more trustworthy way to calculate numbers. Use a tool that offers a baseline estimate. This not only gives us accurate estimates for our contractors, but provides a more trustworthy offer to our sellers.
Remove the emotional attachmentMost sellers have an emotional attachment to their properties, and this can be a source of conflict when we explain what needs to be rehabilitated. By offering our sellers a baseline, streamlined checklist, we can remove the emotion and have them objectively decide what needs to be renovated themselves.
Speed up the transactionIf we have a baseline estimate for ARVs and repair value, we can speed up the transaction process. By referring to a set checklist, we can provide sellers with an offer in under 15 minutes, without ever taking out a tape measure. Plus, if we bring a battery-operated printer, we can give sellers a contract before even leaving the property.
As real estate investors, the biggest mistake we can run into is a miscalculation of cost. To avoid this from happening, we need to refer to set, almost standardized numbers. This helps us with our own calculations, but also makes us more trustworthy in the eyes of our sellers. By adhering to a baseline, we ensure accuracy while putting ourselves in the running to win more deals.
Guest Bio-
Matthew Hedstrom is the co-creator of Rehab Estimator Pro, a tool designed to streamline the real estate investing process. He owns several construction, contracting and rehabilitation businesses in Midwest USA, and has over 20 years of experience in the real estate industry. Matthew is also a coach and partner at The Real Deal Investor Coaching, as well as the founder of selfastwithus.com and co-owner of WisoREIA, Wisconsin’s premier Real Estate Investors Association. Matthew is an advocate for education, and strives to help business owners unlock their potential through learning.
https://www.reiestimatorpro.com/
Therealdealcoaching.com
To access the tools discussed on this show, visit
realestateinvestor.com/best
realestateinvestor.com/estimate
Ready to discover the power of a 40 person marketing & sales team...WITHOUT having to hire a single person? Visit REIvault.com to learn more.
Success in real estate investing all comes down to creative financing and the way we structure our deals. What tools do we need to see great results in our businesses? Where can we learn how to structure our deals more effectively?
On this episode, bestselling author and industry veteran, Chris Prefontaine shares how we can make our mark in real estate investing.
3 Things We Learned
Structuring deals creatively can help us achieve a higher conversion rateThe tools we use in investing can be compared to actual tools on a construction site: a contractor simply can’t make any progress with only a hammer. We need a range of tools if we want to see results.
Find the right coach who knows about structuring dealsTo learn how to structure deals, we need to find a coach. Look for someone in the niche who you find relatable. It’s also vital that the person teaching us is still actively making deals and involved in real estate. Relying on those who exited the industry even 5 years ago will get us into trouble, as techniques change frequently.
Know your numbersKnowing our numbers is crucial, regardless of the industry we’re in. By constantly recording our progress and results, we’re able to find some predictability and plan more effectively for the future.
There are so many ways to buy the properties we want to invest in, so it only makes sense that we structure deals in a creative, hybridized way that ensure everyone involved gets what they want. However, to know how to structure these kinds of deals, we do need to be taught how to do it. Wholesaling, fixing and flipping are all businesses- let’s run them like the businesses they are, and equip ourselves as best we can.
Guest Bio-
Chris Prefontaine is the best-selling author of 2017's Real Estate On Your Terms and this year's The New Rules of Real Estate Investing. A real estate investor with over 27 years experience in the field, Chris is the founder of Smart Real Estate Coach and host of the Smart Real Estate Coach Podcast. He lives in Newport, Rhode Island with his wife, Kim, and their family. Chris operates the family business with his son, Nick, his daughter, Kayla, his son-in-law, Zach, and an amazing team.
Chris is a big advocate of constant education. He and his family mentor, coach, consult, and actually partner with students around the country, teaching them to do exactly what their company does. Between their existing Associates nationwide and their own deals, Chris and his family are still acquiring 5-10 properties every month and control between $20-$30 million dollars worth of real estate deals — all done on TERMS without using their own cash, credit, or signing for loans.
Chris and his family believe strongly in giving back to the community. They currently support Franciscan Children's Hospital in Brighton, MA, 3 Angels Foundation in Newport, RI, and the Wounded Warrior Project by giving a percentage of all deals to those causes.
To find out more about Chris, head to the following links:
http://prepropertysolutions.com/
https://www.smartrealestatecoach.com/
https://www.linkedin.com/in/chrisprefontaine/
You can also listen to his podcast on
Smartrealestatepodcast.com
To get a FREE copy of Chris’s latest book, visit Newrulesforfree.com
This offer includes free shipping!
In the real estate investment game, phone calls are an important part of the job. How can we make the most of calls with clients, and how can we stay calm in the face of angry callers? How can we train our teams to be more effective over the phone?
On this episode, industry veteran, author and fellow podcaster, Larry Goins shares his advice on making the most of the time we spend on calls.
3 Things We Learned
Solving problems is the key to effective communication
At some point, we’re guaranteed to deal with an angry person over the phone. When this happens, take the opportunity to solve the caller’s problem. Seldom will an angry call be purely based on our direct mail reaching their front door, so be sure to ask questions that reveal what the real issues are. Once we know the root of the problem, we can start finding solutions and maybe even get their business after all.
Find ways to stay entertained while making calls
If we’re making calls regularly, we’re bound to get bored at some point. To stay focused, we need to find things that keep us amused as we work. Grab a fidget spinner, or even keep a guitar on your lap. The important thing is, we find ways to enjoy the time and prevent ourselves from stopping the activity.
Record your interactions so you can better prepare
When training our teams, we need to help them write scripts and prepare themselves. However, we should also be taking it a step further by sharing recorded conversations we’ve had with clients over the phone. This helps them prepare responses to commonly asked questions.
Phone calls are a key component of real estate investing, so it’s vital we make the most of them. It all comes down to listening to what the client really needs. Never be discouraged by an angry caller- even the angriest person can become a loyal client if we pay attention to them and help solve their problems. Stay focused and take stock of what works- calls are essential, so always be prepared.
Guest Bio-
Larry Goins is a real estate investor and educator with over 30 years of experience in the industry. Larry has served as president of the Metrolina Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association.
Today, Larry is an active real estate investor and travels throughout the United States speaking and training audiences at conventions, expos, and real estate investment associations on his strategies for buying and selling houses. He has also written several books on real estate investing. In addition, Larry is the host of the BRAG Radio Network, alongside Kandas Broome. BRAG is all about investing in real estate to Be Rich And Generous. Larry is also the host of the Brain Pick a Pro Podcast.
Between speaking engagements and mentoring other investors, Larry oversees the daily operations of his investing business, Investors Rehab. The business wholesales properties, seller finances properties and holds properties for investment.
To find out more about Larry, head to
https://larrygoins.com/
www.InvestorsRehab.com
https://www.linkedin.com/in/larryhgoins/
To listen to the Brain PIck a Pro Podcast, visit https://podcasts.apple.com/us/podcast/brain-pick-a-pro-podcast/id1432136627
And to listen to BRAG, head to https://larrygoins.com/category/brag-radio-show/
To grab a copy of Larry’s ‘Investment Kit’, call 877 LARRY GO
Ready to discover the power of a 40 person marketing & sales team...WITHOUT having to hire a single person? Visit REIvault.com to learn more.
One of the most pressing issues real estate investors face is how to dominate and succeed in a hot and highly competitive market. What are the key mindsets we need to succeed? How can we interact with sellers to get better results?
On this episode, I share practical techniques that can help us win in a hot market.
3 Takeaways
All leads ‘suck’ until we start interacting with the sellers.
If we don’t identify the seller’s problem, they will just list on the MLS for full price.
Work the solution around the seller. We have many products and approaches we can offer that can fit their needs.
A hot market requires us to increase our own skills and abilities. If we don’t improve our skills and change our tactics, we won’t survive. In order to thrive, we need to slow down the process, find the problem, find the price range that works, and offer a worthy solution.
To be successful, it’s important that we pay attention to our inner game and ensure we’re putting ourselves in the right places, at the right times. Is it smart to court luck, and how can we use it to help us succeed? How do we regroup when we find that a strategy isn’t working?
On this episode, co-founder and president of The Science of Flipping, Justin Colby shares his keys to success.
3 Things We Learned
Put yourself in a place for luck to find you
A good portion of success comes from being in the right place at the right time. To increase our chances of a lucky outcome, we have to be in the right position to receive that luck. Focus on marketing, contact leads and make sure we’re visible in your market. Luck doesn’t just happen, we won’t cultivate it without putting in some of the work.
Learn from your mistakes
No one wants to fail, but the most successful people know that it’s an important part of growth. We can however, turn our failures into a positive experience, and learn from our mistakes. We can’t lose if we never give up.
Make sacrifices
Most people aren’t willing to give up things like free time. However, if we truly want to be successful, we need to sacrifice some things so that we can reach our goals. We have to think about how much we want to achieve our dreams and commit to making them a reality.
Success isn’t an easy road, and it takes a lot of dedication to stick on the path. Perseverance is key. It’s important to keep our goals in mind and take the necessary steps to put ourselves in a position for luck to find us easily. Hope is not a strategy, so we have to make sure we’re doing the work.
Guest Bio-
Justin Colby is the Co-Founder and President of The Science of Flipping, Omni Investment Group and Phoenix Wealth Builders. Justin has been real estate since 2005, and moved into real estate investing 2 years later. To date, he and his business partner have flipped and wholesaled over 300 properties, and as of 2013 they have become developers as well. In addition to being a successful investor, Justin is a powerful real estate coach and public speaker who has mentored nearly 1000 real estate investors.
To get in contact with Justin, head to The Justin Colby on Facebook and send him a direct message.
If you’re interested The Science of Flipping Academy Group on Facebook, you can request to join. After completing a questionnaire, if you’re the right fit for the closed group, membership is free.
We live in a world filled with so many new technologies and developments designed to connect us to clients more easily, and it’s tempting to try them all. Should we be automating everything? When is it better to stick with tried-and-tested methods?
On this episode, investor, author and coach Joe McCall interviews Gary Boomershine for his podcast, Real Estate Investing Mastery. Together, we discuss why some marketing techniques work better than others.
3 Things We Learned
Don’t reinvent the wheel
With so many new technologies and techniques at our fingertips, it’s easy to feel like we need to try them all or add our own ideas to the mix. However, it’s a good idea to pay attention to what works and replicate that. We don’t need to give any more of our time than necessary.
Make phone calls
Because texting and emails have become so commonplace, it’s easier to market ourselves without having actual conversations. While it may be convenient, however, phone calls are still the most effective. Money is made on phone calls, so don’t neglect them.
Consider your seller’s emotional state
Property investment is a people’s business, so it’s important to pay attention to the people involved. So many factors influence a seller’s actions. Don’t discount these factors and make sure you’re paying attention.
Today there are many more improved and convenient options for marketing than ever before. These should definitely be explored, and can be used to supplement our existing marketing strategies. However, don’t spend too much time looking for newer, more exciting avenues - focus on what has worked. There’s no need to reinvent the wheel.
Guest Bio-
Joe McCall is a real estate investor, coach, podcaster and author. He’s passionate about sharing his knowledge of real estate with others, and loves teaching others how they can make money without spending all their days in an office.
To learn more about Joe, visit joemccall.com. You can also get a FREE copy of his brand new book, Wholesaling Lease Options, visit www.wlobook.com. To listen to Joe’s podcast, Real Estate Investing Mastery, visit www.realestateinvestingmastery.com
A lot of real estate investors worry that acting with too much integrity can impact on our businesses negatively. Does integrity threaten our success? Do we need to focus on making a profit, above all else?
On this episode, I’m sharing how acting in the interests of your clients can- and will- benefit your business.
Takeaways + Tactics
Transparency and honesty are crucial for successful businesses. While we may think acknowledging our downfalls will negatively impact our businesses, in reality showing humility endears us to clients.
Be a problem solver. Targeting specific problems and telling clients how we can fix them shows dedication to solving problems, rather than making money.
Be genuine. It’s one thing to say we have integrity; it’s another to actually exhibit it. Integrity should be one of your core values. If it isn’t, don’t tell clients it is. Pretence is extremely damaging and will undermine any trust.
So often, we’re warned against being too ‘nice’. We fear losing out on good money. However, in reality, transparent processes and integrity go a long way in gaining relationships with clients. Success in sales is based on being trusted and respected. Rather than asking if it’s possible to make money by having integrity, we should be asking if it’s possible to be successful without it.
Generating attention around our name and expertise is one of the most important tactics when building a successful business. How can we get our name into the public domain? What sort of content should we be sharing to yield the best results?
On this episode, the number one sales and marketing trainer in the world, Grant Cardone shares how to get our name out there and get our content in front of more people.
3 Things We Learned From Grant Cardone
In order for people to like us enough to work with us, they have to know us first
To do business with people, they need to know, like and trust us. In order to take the first step, becoming known, we can use free platforms at our disposal to get our name into the public space. Our stories won’t get out until we’ve told it a thousand times, so we have to make sure we’re building familiarity.
Be willing to give to get and start with giving value
If we want to build a client database, we have to be offering something. This doesn’t need to cost any money- we’ll benefit if we’re offering our knowledge to an audience. Continue offering this kind of value every day and we’ll be impossible to ignore.
Always share relatable stories
Not everything you share with your audience needs to be business-related. Your personal stories about family, health and relationships are relatable to people across industries. The people touched by your stories may do business with you purely because they know who you are on a personal level.
We live in a world saturated with stories, so the thought of trying to stand out from the crowd can be intimidating. However, it doesn’t need to be. We have to make sure we’re putting ourselves on public platforms and sharing our stories every single day. The story doesn’t even need to be different everyday- as long as we’re consistently sharing information, we’ll capture public attention. Remember, money follows attention.
Guest Bio-
Grant Cardone is the number one sales and marketing trainer in the world. He is an entrepreneur, real estate mogul, and speaker. He’s also the bestselling author of The 10X Rule, If You’re Not First You’re Last, and many more. His passion for pushing the boundaries in marketing has pushed him to the forefront of the sales industry.
To get a FREE PDF copy of Grant’s newest book, email melissa@cardonecapital.com
To find out more about Grant’s bootcamp events, head to grantcordonebootcamp.com
To find out more about Grant, visit https://grantcordone.com
Real estate investing is gaining traction as a great way to generate passive income. How can you generate long-term wealth using real estate investing? What should you be focusing on in the early stages of this venture?
On this episode, we speak to leading authority on apartment building investing in the United States, author and podcaster, Michael Blank.
3 Things We Learned From Michael Blank
Build relationships with good brokers
The best way to find clients is through brokers. Good brokers foster long-lasting relationships with apartment owners, so they’ll be the first to know when an owner is considering selling. Work to gain the trust of these brokers, and they’ll be sure to connect you with the right people.
Follow the ‘Law of the First Deal’
The law of the first deal states that within 3-5 years of completing your first deal, you’ll become financially free. Once your first deal goes through, you’ll also find that the second and third come in rapid succession.
Form partnerships
Partnerships are gaining popularity because of their ability to serve a range of needs. Real estate requires people who can talk to clients, as well as analytical ability, for instance. If you know people whose capabilities differ from yours, consider partnering with them to ensure you’re covering all the bases in your business.
Apartment building investing is a great way to earn a passive income, but to generate long-term wealth from it, you need to build a solid foundation. Build relationships with brokers and people who have the skills you need for your business. Once you have these relationships, work towards your first deal. From there, the only way to go is up.
Guest Bio-
Michael Blank is an entrepreneur, investor, teacher, podcaster and bestselling author. As the leading authority on apartment building investing in the US, Michael controls over $30 million in multifamily assets across the country. Michael’s drive comes from his goal to teach others how to become financially free in as little as 3-5 years.
To find out about Michael’s book, Financial Freedom and Real Estate Investing, to hear his podcast, The Apartment Building Investing Podcast and for more information, head to: www.themichaelblank.com
Many business owners feel like they business are running them into the ground, and very often it’s because of the way they’ve built the company. What are some of the symptoms of a business that has issues that can be solved by EOS Traction? Why is the coaching component so important? Why is vulnerability so important?
On this episode, I talk to my EOS Traction coach, Randy Taussig, who shares key insights on EOS Traction that he’s gained from years of coaching.
Takeaways + Tactics
The EOS system: vision, people, data, issues, process and traction.
You need both discipline and execution around a vision or goal in order to achieve it.
Implementing traction with a coach helps you get to your goals faster.
Delegation feels like a luxury, but it’s actually an obligation of management, because not delegating holds up the business.
A strong business is made up of key components, and each piece has to be as strong as possible. Traction is all about getting massive clarity about where the business is heading, turning it into measurables, having a plan and executing it on a weekly basis. What’s important about having a vision is that the whole organization has to be aligned and there has to be discipline and action behind it. The right system can elevate the organization, and it can give the leader real freedom and fulfillment.
Guest Bio-
Randy is a Certified EOS Implementer and the founder and Chief Navigation Officer of BlueCore Leadership. For more information, go to https://reivault.com/randy or https://www.bluecoreleadership.com/.
There are some characteristics and skills that people need to master to make it in the real estate industry. What qualities should you be looking for in recruits? Which is more important: experience or motivation?
On this episode, President of Rose Garden Consulting and sales expert, Ali Mirza, shares how to build the best team for your business.
3 Things We Learned From Justin Colby
Find coachable people
Regardless of the skillset a recruit may have, their willingness to learn is extremely important. Even if someone has no experience in the field whatsoever, their commitment to keep growing makes them more valuable to your business than someone with extensive skills and no motivation to move forward.
Prioritize empathy
If you can’t read a room, you can’t become successful. Hire people who have high emotional intelligence. EQ is crucial in motivating others, so this is a step that should not be disregarded.
Value competitive drive
Motivation is a non-negotiable component of success. Make sure your team has the willpower to keep getting better. Lack of competitive drive is the number one reason someone should not be in sales.
To create a great team, you need to build it from the bottom up. Don’t go into the recruitment process with the intention to hire only the best candidates who have been superstars in their field effortlessly. Instead, look for the people who want to keep growing and become the best they can be.
Guest Bio-
Ali Mirza started his working life at the age of 19 as a door-to-door life insurance salesperson. Four years into the job, he’d built up the best team in the country and thought he was living the dream. However, after saying the wrong thing to an executive at a bank, he found himself out of the job. Considering himself unemployable, Ali decided to start his own business and Rose Garden Consulting was born. Today, Ali is the president of Rose Garden, and his accolades include being named 2016 Sales POP Blogger of the Year.
To contact Ali, email him on: ali@rosegardenconsulting.com
You can also visit: https://ww.linkedin.com/in/ali-mirza-sales-expert
And: https://rosegardenconsulting.com/author/ali/
Building a business should give you freedom you didn’t have before. How can you make sure you’re building effectively? What steps can you take to protect yourself from failure? On this episode, IQ Real Estate Investing CEO, Javier Hinojo, shares the steps he’s taken and how they’ve helped him along his journey.
3 Things We Learned From Javier Hinojo
Be persistent
Never give up or allow yourself to stop trying. You have to keep pushing through all the challenges thrown your way. Giving up shouldn’t be an option. Remember, the harder you work, the luckier you’ll get.
Always be ready to fire yourself
Leveraging other people’s time and resources is vital if you want to grow your business. Aim to work as little as possible by setting up systems and teams that don’t take up too much of your time.
Look for the downside
We’re constantly reminded to stay positive and look at the bright side, but there are times to consider the opposite. Look for all the things that could go wrong and protect yourself accordingly. Assume that things could go sideways and keep 10% of all your deals saved.
While you need to work consistently and focus on the process, remember that you’re in pursuit of freedom. You need to be able to step out of what you’ve built at some point, without your business falling apart. Be ready to fire yourself and have a backup plan in the event that deals don’t work out. Keep your processes and approaches simple.
Guest Bio-
Javier Hinojo is the CEO of IQ Real Estate Investing, LLC. After working as a licensed locksmith for years, Javier decided to enter the world of real estate investing in 2015. For the first three years in real estate investing, Javier saw poor results and at one point had to ask his children to help him pay his rent. Despite this hardship, in 2018 he joined the REI Vault and has seen his success skyrocket.
To find out more about Javier, head to: https://www.linkedin.com/in/javier-hinojo-80882472/
While everyone wants to be successful, most of the time what holds us back is our fear that we don’t have enough time or money to get started. How can you overcome that belief? How can you become your own bank?
On this episode, I’m speaking to co-founder and CEO of FlipOut Academy and Money School, author and fellow podcaster, Chris Naugle about how to access money as an investor.
3 Things We Learned From Chris Naugle
- After years of favorable market conditions, we need to start preparing for an inevitable shift. The shift coming will have the ability to hurt a lot of businesses, so it’s best to start preparing for it now. Raise money to protect yourself now, so you have it before you need it.
- The best place you can invest is in real estate. This is because, even if the market crashes, real estate cannot go to zero. Even in the event of a natural disaster, insurance will cover it. Invest in real estate to ensure you have an asset to sell if and when you need to.
- Alongside time, one of the biggest things holding people back from achieving their dreams is money. However, the reality is there is so much money available. This is especially true in the case of retirement funds. Stop believing there is a limitation- you just need to look in the right places.
Most of what we know about money is taught to us by banks themselves. Obviously, this benefits the most powerful financial institutions. It’s important to educate ourselves so that we can become our own banks, for ourselves and for friends and family. Let them know they need to invest in real estate, and that there is an abundance of money, as long as we go looking for it.
To build an empire, your business needs to dominate more than one location. Is it possible to do that without physically being in the markets you expand into? How would it affect your current marketing strategy?
On this episode, Raphael Vargas of Ace Equity Pros and Ace Estates Group is here to share how he’s managed to dominate multiple markets.
3 Things We Learned From Raphael Vargas
- By virtually operating certain parts of your business, and contracting local agents to do checks on listings, you don’t need to be physically present in every one of your markets. There is so much technology at your disposal that make remote operations possible.
- If you’re signing deals in another market, there is always a risk that you might miss something that would have made you second guess the decision. Make sure your clients know this from the start. This way, you safeguard your business without your integrity coming into question.
- You don’t need a massive campaign to dominate multiple markets. All you need is a basic strategy that will work in all your markets. You’re not doing any more work than is needed: you’re simply using the same content over and over again.
With phenomenal communications tools at your disposal, it’s now easier than ever before to do business in multiple locations at once. While your locations may be different, the great thing is you don’t even need to change your marketing strategies. So much stays the same- including the need for you to build great relationships with your clients.
One of the biggest issues in real estate entrepreneurship is that most of us end up turning it into a full-time job, despite getting into the business for passive income and freedom. How do we stop this from happening? Why is it so necessary to have a plan in place? On this episode, author of The Time-Wealthy Investor, Mark Dolfini, shares why time is the most precious resource we have, and how to give ourselves more of it.
3 Things We Learned
Having a good work ethic doesn’t mean you need to do all the work
Don’t fall into the trap of thinking you need to be constantly working. Putting in more hours than you’re able to does more than waste your time: it can have a devastating effect on your physical health. Make sure you’re taking time for yourself to recover. It’s not a luxury, it’s a necessity.
Find a coach
Coaching is key. Think of your business as you would a family member- you know you love them, but may not be able to express why. You need an outside perspective; someone who can help you find out why you feel a certain way about your business. Doing this will strengthen your commitment.
Vision is vital
Having a vision for your business and your future is crucial. Without a roadmap, you’re not going to get anywhere. Make sure you know where you’re going, and have a plan for how to get there. By having a vision, you’ll also find it easier to manage your time.
When you care deeply about your business, it’s normal to want to put a lot of work into it. However, remember that your life revolves around more than your source of income. Make sure you’re setting aside time for yourself to focus on what truly matters to you. Understand why you love your business, but also be conscious of the fact that time is finite. It’s not enough to be financially wealthy: you need to be time-wealthy to be truly free.
The real estate industry is set to undergo changes as a result of market shifts and new approaches to marketing. How can you stay ahead of the curb? What parts of your marketing strategy should you be adapting? In this episode, Justin Colby shares why you need to be relentless in your approach.
3 Things You'll Learn: * While we’re not necessarily headed for a recession or a financial crisis, be aware that the market is changing. Buyers are becoming more finicky, and the market has stopped appreciating. * Make sure you’re approaching clients from multiple platforms. By having a diverse strategy, you’ll be able to surround your client with your message. * Even when clients don’t seem happy with an offer, send it to them. By doing this, you have a guarantee of further communication.
Cold calling is vital if you want to be successful in real estate. How can you prepare yourself for making the calls? What important things do you need to remember when you’re cold calling?
In this episode, I talk with real estate coach Brent Daniels to hear his advice for making cold calls.
3 Things We Learned From Brent Daniels
- When cold calling, you’ll notice there are 6 general answers you’ll receive: yes, no, maybe in the future, how much will you give me?, how did you get my number?, and who are you? If you can be prepared with an answer for each of these, you’ll be on the right track.
- Going into something like cold calls unprepared is like trying to find a million dollars while blindfolded. Find someone who can guide you, and make sure you’re executing cold calls effectively.
- If you’re cold calling, you need to make sure you’re doing it the right way. Your conversations have to be high-quality to be effective. Ensure you have a good script and that you’re having conversations with prospective clients, not interrogating them.
Cold calling is important in the real estate industry, and typically the agents who make use of effective cold calling are seeing amazing results. While the process can seem daunting, remember that real estate is intrinsically linked to human interaction. Remove the mystique of having effective conversations, and you’re halfway there.
When you’re running a business and it feels like it’s just chaotic and overwhelming, it’s time to take a long hard look at the culture and change it. What are some of the characteristics that define a high-performing, well-run team? What are the changes you need to implement in your team, and the things everyone needs to be clear on?
On this episode, my excellent operations specialist, Julia Jordan, and I continue our discussion about how to build the culture, team, and accountability to scale up a business.
3 Things You'll Learn:
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Decide what you want to achieve over a 3 or 5 year period. You can also break it down even further and think about what you want to have achieved a year from today. When you give yourself time parameters, you get a clearer idea of what you need to be achieving on a monthly and weekly basis.
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As a business owner, you need to have a very clear vision of who you are and what you want to achieve. Without this clarity, you’ll be more likely to miss targets and your business will falter. Be clear from the start and reflect on your vision regularly.
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The best way to build a great company culture is by regularly checking in on your team members. Even if your team is comprised of remote members, schedule a call that includes everyone. It’s much easier to work in harmony with people you know and who take an interest in you.
To have a great team, you need to have great communication. Make sure you’re on the same page with your team in terms of values, goals and even their personal lives. Never allow your business to falter simply because not everyone is on the same page. Be clear, communicate, and you’ll see great results.
When you’re running a business and it feels like it’s just chaotic and overwhelming, it’s time to take a long hard look at the culture and change it. What are some of the characteristics that define a high-performing, well-run team? What are the changes you need to implement in your team, and the things everyone needs to be clear on?
On this episode, I talk with my excellent operations specialist, Julia Jordan, about how to build a great culture, team, and accountability to scale up a business.
3 Things You'll Learn:
- You should never have to push the vision, mission, direction and measurables of a team on them. It should be the natural outcome of you doing what you’re supposed to, and implementing the right things.
- In a high-performing business, everyone should know that there is upside growth and opportunity in the organization, they should never feel like there’s a glass ceiling. You should always show your willingness to create opportunities for them to grow.
- A high-performing team isn’t run in an urgent sort of “house-on-fire” manner. People focus on important tasks— not urgent ones. There’s a plan and people work to it.
We’ve all heard that we need to achieve work-life balance, but that’s easier said than done. How can you create a life of balance for yourself? Can it allow you to be financially stable?
On this episode, I’m speaking to an REIvault member who has achieved great success in his full-time position in finance, as well as his secondary business in real estate.
3 Things You'll Learn:
- Time management and prioritization are key
- Your morning routine sets the tone for your day. Make the most of it
- Visualize what you want to achieve
Make sure your work fits in around your personal life— not the other way around. Prioritize and manage your time, and visualize the life you want. It’s all within your reach if you take a moment to breathe.
Many aspiring business owners have bought into the idea that they have to work around the clock to build wealth and a successful team— but that’s not the case. How can you leverage people’s time so that you don’t have to work yourself to the bone? What does it take to build a successful team and bring the right people on board? How do you keep those people engaged in the organization?
On this episode, I’m joined by Jeff Cohn, the founder of Omaha’s Elite and host of the Team Building podcast. Jeff shares how he built a strong team of loyal, hardworking, and driven people.
3 Things You'll Learn:
- As a team leader, you have two categories of “clients”: the talent you need to retain, and the clients they serve.
- You can offset your lead generation and marketing costs with money from people who work within the same real estate transaction ecosystem.
- The mindset of a true leader is to focus on the highest-value tasks and activities. For everything else, find the right people to leverage who can do those tasks.
If you’re successfully generating leads but can’t seem to convert them, there’s a very important link missing in your business. What is the purpose of an ISA, and why are they so important to your business? What are the resources you should be leveraging? What metrics do you need to be tracking when it comes to phone calls? On this episode, I talk about a key hire you should have on your team.
3 Things You'll Learn:
A dedicated ISA can talk to sellers all day long, ask the right questions, build rapport, find motivation and set appointments.
Use the term "property", not "home". The person you’re calling might have multiple homes, and the term "home" usually suggests an emotional attachment.
An ISA using a manual dialer can make 100-120 calls a day. Using an autodialer, they can call 250-350.
The #1 reason people aren’t converting and making a ton of money is they do not have a dedicated sales function. An ISA allows you to leverage your time, and they can be dedicated to a very important aspect of your business. To empower your ISA, they need the right things to say at the right time, and an autodialer can help them leverage their time at the highest level.
Many people in real estate investing feel like their funding sources are running out, but with the right connections, you can easily overcome this obstacle. How does the Connected Investor help investors looking for lenders? What are some of the key things we need in order to be lender-ready? How can we avoid scammers online?
On this episode, Ross Hamilton shares on building a platform that facilitates loans for real estate investors, and growing a subscriber base of 800,000.
Three Things We Learned
Why right now is the best time to approach lenders
Borrowers have a lot more options than they could have ever had to get funding. It’s getting harder to find deals, and lenders are having a harder time finding borrowers. They have so much money they want to get in the hands of the right people.
Why getting into investing without any skin in the game is a mistake
Lenders like to see a little skin in the game, so for your first deal, borrow money from a friend or family member, and then once you’ve done your first couple of deals put some of your own money into the deals, it removes a lot of the friction.
Why it’s important to be in unity with your spouse when it comes to business
When you’re an entrepreneur, you have to get people on your side, and the very first person who should be on your side is your spouse/partner. Being in unity with your spouse is a blessing, and one of the things that can propel your business.
Lenders are looking for investors who can bring them high-quality deals. If you have everything in order, getting funding won’t actually be an uphill battle. That first deal is the hardest, but once they fund you on the first one, they will fund you again and again. To achieve this, you have to be forthcoming and honest with them from the start. Don’t inflate your numbers, and be conservative. That’s how you earn the trust that will allow for multiple deals. The best opportunities and successes we can have come from connecting with the right people.
Guest Bio-
Ross is the founder and CEO of Connected Investors the world's largest social network of Real Estate investors. Go to https://connectedinvestors.com/ for more information.
Many real estate entrepreneurs are slaves to the business because they don’t have leverage or strong core values and systems. What’s the difference between someone who turns this work into a business, and someone who just stays stuck in the grind and hustle? How do we build a culture where our people are loyal, accountable and hardworking? When it comes to hiring, how do we make sure we’re actually doing it right?
On this episode, Steve Richards and I have a conversation about turning a real estate job into a business.
3 Things You'll Learn
The power of tracking everything
You need to constantly be tracking your numbers and metrics in the business. If you build your systems and track them very well, it will be easy to see what is and isn’t working. You’ll easily figure out where the problems lie, whether it’s the list, the mail or the person doing the calls.
How to build a standard to hold hires accountable to
Start documenting what you’re doing before you hire someone. It gets you very clear on what needs to be done. Once you have to have that standard built, you have something to compare your people against when you start hiring.
Why leverage improves the results we get
Even if we think we can do a task better than someone we hire, the truth is they will have the advantage of consistency over us. They are showing up every single day doing it consistently, while we’re handling so many things that we can’t always do that specific task to the same level.
It’s easy to think that our culture and core values don’t really affect the bottom line, but without them we have no direction and nothing to hold ourselves accountable to. If we get our core values right, we cast the right vision and hire and manage to them correctly. When our people exhibit those core values, that means their behavior will be making the business do what we need out of it, and then we can get more of what we want in our lives.
Many real estate entrepreneurs are slaves to the business because they don’t have leverage or strong core values and systems. What’s the difference between someone who turns this work into a business, and someone who just stays stuck in the grind and hustle? How do we build a culture where our people are loyal, accountable and hardworking? When it comes to hiring, how do we make sure we’re actually doing it right?
On this episode, Steve Richards and I have a conversation about turning a real estate job into a business.
3 Things You'll Learn
The power of tracking everything
You need to constantly be tracking your numbers and metrics in the business. If you build your systems and track them very well, it will be easy to see what is and isn’t working. You’ll easily figure out where the problems lie, whether it’s the list, the mail or the person doing the calls.
How to build a standard to hold hires accountable to
Start documenting what you’re doing before you hire someone. It gets you very clear on what needs to be done. Once you have to have that standard built, you have something to compare your people against when you start hiring.
Why leverage improves the results we get
Even if we think we can do a task better than someone we hire, the truth is they will have the advantage of consistency over us. They are showing up every single day doing it consistently, while we’re handling so many things that we can’t always do that specific task to the same level.
It’s easy to think that our culture and core values don’t really affect the bottom line, but without them we have no direction and nothing to hold ourselves accountable to. If we get our core values right, we cast the right vision and hire and manage to them correctly. When our people exhibit those core values, that means their behavior will be making the business do what we need out of it, and then we can get more of what we want in our lives.
The golden goose in real estate is listing leads, and having a defined system for generating leads. How did Erik Hatch solve this pain point with Snap Offers? Why is it so powerful to offer sellers more than one option when it comes to price? Why are people the basis of every successful business? On this episode, I’m joined by Realtor, broker, coach and investor, Erik Hatch to talk about how he’s using instant offers to drive lead generation.
3 Things We Learned
The importance of people
A lot of times people think that systems and strategies are the foundation of a business, but the foundation of any business are the people that comprise it. If you have the right people, the rest inherently easier.
The biggest differentiator of Snap Offers
Most instant offer platforms don’t offer the seller two prices. Snap Offers gives the customer the option of an investor price which allows them to opt out of dealing with open houses, viewings etc.
How to stay ahead of the game in this real estate market
One of the ways to stay relevant is to be hyper local. You can have massive amounts of reach by concentrating on one zip code. By having a very specific target you can gain mindshare with residents of that area.
Instant offers are an incredibly unique, smart and lucrative way to generate valuable leads to your real estate retail and investing business. This is especially true if you go hyper local and dominate a zip code. In order to really get results, we have to have the solid foundation of good people on our teams. They build the systems on which all our successes are built.