BRAG Radio

Today's show is the first of a 2-part series on how to be a good negotiator. Larry and Kandas talked about the things you should ask sellers when negotiating deals. They also dissected a deal which they learned a lot of lessons from.

Topics:

• What they've been up to
• Share Sponsor winner
• Deal of the week: Fix and flip property
• Things you need to ask the seller on the phone: - Whose name is the house in? - Why are you selling? - Who lives in the house or is it vacant? - How long has the property been vacant? - When was the last time you went inside? - How much are you asking and how did you come up with these number? - Do you owe anything on the house? - If they have a mortgage, ask how far behind they are. - What will you do with the money when you sell? - What will you do if you can't sell it? - What's the condition of the house? - Ask about any repairs or updates that has been made. - How long have they been trying to sell it?

Quotes:

• "Don't ever promise a buyer that you're going to have the house cleaned out before you sell it to him."
• "It costs a lot of money to have a house cleaned out."
• "If you're going to be a really good investor, you need to learn how to be a good negotiator."
• "You don't find deals, you create them."

In today's show, Larry and Kandas talked about negotiating and rapport building when dealing with sellers. They also talked about what they've been up to and shared some tips on what to do when talking with sellers.

Topics:

• What they've been up to
• Share sponsor winner
• How their model works
• Getting people to like and trust you
• Mirroring and matching
• Using their words
• Stating your name and company name before asking for their names
• Stating how long you've been doing what you do
• Telling a story about a similar deal than directly telling what you can do
• Reading the person

Quotes:

• "You want to mirror and match people."
• "Stories sell. Facts tell."

In this week's show, Larry and Kandas talked about the possibility of a real estate crash, what they'll do when it happens, and what one can do to prepare for a similar scenario. In addition, they also talked about some of the deals they have done over the past week.

Topics:

• Share Sponsor Contest
• Deal of the week
• Are we going to have a crash?
• Cycles of real estate
• Longer days on the market
• Signs of crash in 2007-2008
• On buying below the market
• What they are doing in preparation for the crash
• Buying power
• Using private money or seller financing
• Growing a small retirement account

Quotes:

• "Real estate has cycles."
• "We only teach what we do."

Larry and Kandas are back for their very first Facebook Live episode in BRAG Radio. Recently, they have been getting back to the basics and doing a lot of marketing.

In this episode, they discussed the things you should do when the phone rings. They also talked about the questions you need to ask and other relevant things you need to know. Don't miss this episode!

Topics:

• Getting back to the basics
• Recent developments in their marketing
• When people ask what the postcard is about
• Questions to ask when people are interested in selling their house
• Asking for the property address and pulling out the address
• Finding out what's going on with the property before asking more questions
• Asking about recent improvements on the property and the things that need to be done
• Mirroring and matching people
• Finding somebody who needs to sell
• Answering the phone live
• Giving a timeframe if you cannot answer the phone live
• Best to worst of who should answer the phone
• Negotiating deals
• Choosing who to send postcards to
• Lead management
• Returning calls
• Response rate

Quotes:

• "Mirror and match people."
• "We are not just looking for somebody who wants to sell. We are looking for somebody that needs to sell."

In today's show, Larry and Kandas shared how you can do your first or next deal. They also discussed step-by-step the things you need to know so you can do your first or next deal in 60 days or less.

Listen in and learn different tips and tricks on how you can make that first or nth deal happen!

Topics:

• Step 1: Picking a market Metropolitan Statistical Area (MSA) Looking for areas with low prices Older vs newer areas
• Step 2: Setting up your business Having some asset protection
• Step 3: Marketing Different ways to market and generate leads - Direct mail (Generic vs Branded Postcards) - Pay-per-click - Cold calling - Door knocking - Bandit signs - Getting your own website
• Step 4: Answering the phone Live answer vs voicemail
• Step 5: Negotiating over the phone Putting together a good script Following up
• Step 6: Analyzing the deal Calculating the ARV (after repair value)
• Step 7: Contracts
• Step 8: Due Diligence Driving the street online Pooling caps Pooling rent caps Taking pictures and videos Calling other realtors or property managers in the area
• Step 9: Building your motivated buyers list
• Step 10: Emailing your buyers list
• Step 11: Closing the deal and getting the money

Quotes:

• "You got to understand what market you're going to be in."
• "Work as hard in building your buyers list as you do at finding properties."

In today's show, Larry and Kandas talked about the different technology and resources that are useful in real estate investing. They grouped them into 4 main categories: finding deals, funding deals, keeping track/organization, and connecting with other investors.

Find out how you can use these technology and resources to make your process more seamless and convenient!

Topics:

- First category: finding deals - Types of properties - Resources for listed properties - Resources for off-market - Apps that will help you find who the owner is and will help market to the owner for you - Second category: funding deals - Hard money lending vs private money lending - Peer-to-peer lending sites - Crowdfunding - Third category: organization/keeping track - Different ways to store documents - Real estate CRMs - Podio-based CRMs - Setting up follow-up sequences - Apps you can use to hire people online - Keeping track of your marketing - Fourth category: connecting with other investors - Networking with other individuals - Having your own Facebook

Quotes:

- "One of the biggest way you can use technology in real estate is to have a great CRM." - "It's a suspect until you turn it into a prospect." - "The fortune is in the follow-up."

Many people would want to get into real estate. However, most of them are new or already working full-time jobs.

In today's show, Larry and Kandas discussed the 4 biggest obstacles that prevent from getting into real estate.

Topics:

• First obstacle: Money
• More careful and cautious on your deals when you have no money
• The model determines the money
• Wholesaling or real estate day trading
• Assignment of contract
• Second obstacle: Time
• Other people's money and other people's efforts
• 3 types of time commitments: 1. Full-time 2. Part-time 3. Spare time
• The model determines the time/effort
• Wholesaling has the shortest amount of time needed
• Hiring virtual assistants
• Third obstacle: Getting deals
• Having deal flows
• Having leads
• Marketing vs prospecting
• Unadvertised properties
• Joining real estate groups on Facebook
• Networking at your REIA group
• Fourth obstacle: Staying motivated
• Getting a good deal
• Joining Facebook groups or meetup groups
• Finding a mentor

Quotes:

• "The model determines the money."
• "To be a successful real estate investor, it requires time."
• "Don't quit your full-time job until your real estate income surpasses your day job income."

The first thing you need to do when you get into real estate is you've got to generate some leads and be able to find some properties that you can buy at a deep discount.

In today's show, Larry and Kandas talked about the things you need to know when generating leads. They also shared different ways and techniques on how to do marketing and prospecting. Stay tuned!

Topics:

• Generating leads and finding properties
• Going deep vs going wide
• Ways to find deals: 1. Marketing 2. Prospecting
• Looking for motivated sellers
• What a bandit sign is
• Vehicle signs
• Direct mails
• Different list sources: - Probate - Absentee owners - Pre-foreclosures - Section 8 landlords - Out-of-state owners - Code enforcement - Landlords who are going through eviction with a tenant - Ads in Craigslist
• Finding off-market properties
• Having a website
• Letters vs postcards
• Having different phone numbers for each source
• Facebook marketing
• Setting up custom audience in Facebook
• Hiring bird dogs
• What prospecting is

Quotes:

• "When you are a real estate investor, you are looking for steals not deals."
• "I would rather have 10 ways to find 1 deal than 1 way to find 10 deals."
• "With leads, the older they get the colder they get."
• "You can't steal in slow motion."

In today's show, Larry and Kandas talked about self-directed individual retirement accounts. They also discussed the things you can and cannot do with your self-directed IRAs. In addition, they also touched on the things you should be aware of when dealing with your retirement account.

Topics:

• What self-directed retirement account is
• Traditional investments vs non-traditional investments / alternative investments
• Law not permitting IRA funds to be invested in life insurance or collectibles
• Examples of collectibles
• Having a self-directed custodian
• Things you can invest in
• Things you can do with real estate using your retirement account
• Being careful not to be charged with Unrelated Business
• Income Tax (UBIT)
• Borrowing money for real estate
• Loaning money through your IRA
• Being a passive investor and owning a business using your retirement account
• Buying and holding real estate in your self-directed IRA
• Contribution limits
• Investing in cryptocurrency

Quotes:

• "The IRS doesn't like you operating a business inside your retirement account."
• "You've got to keep everything separate from being co-mingled."

In today's show, Larry and Kandas tackled in detail the different things you can discuss with the seller.

They also gave an overview of the right way to talk to the seller on the phone, what needs to be asked over phone conversations, and how to get sellers to give you a call back. In addition, they also talked about building rapport with prospects and taking a tour and figuring out how much to pay for the property.

Topics:

• Strategy when getting contact information
• Building rapport
• Making the phone ring
• Tracking your marketing
• Getting the address of a property that is for sale
• Looking up the properties
• Questions to ask the seller
• The reason you need to know how they acquired the house
• Knowing why they are selling
• Rule of 72
• Going in the house

Quotes:

• "If I can make my phone ring where they call me, I'm in control."
• "You want the seller to be selling to you."