Deals Today

Currently, we're on the verge of some big moves in the housing market thanks to the uncertainty of any economic recovery that's on the table. We don't know exactly how it's going to go forward but many expect good real-estate deals from motivated sellers. We're going to look at real-estate investing during interesting times.

   Today, I’ll be interviewing Sonny Tran, a real estate investor and serial entrepreneur. He took his background in banking and finance and combined it with strong marketing and sales techniques to build a business in real-estate investment. Sonny is very enthusiastic about what he does and we're going to talk to him about approaching lead generation, the importance of mentoring and we're also going to hear some real-life investment situations that Sonny found himself in. Listen to Sonny as he talks about sales psychology, what to look for in investment partners and how to build a list of motivated sellers.

Topics discussed in this episode

·         How to do prolific lead generation

·         Effective sales techniques for distressed properties

·         How to analyse a good deal

·         The value of a mentor

·         Why time is your most valuable asset and how to save it

·         What Sonny looks for in investment partners

·         The sales psychology of real estate deals

·         The stages of how Sonny sets up finance

·         What savvy investors look for in a deal

·         How to climb the ladder to bigger deals

·         The balance between getting multiple new leads vs persuading your existing warm leads

·         How to do door-knocking the right way

·         The importance of combining approaches

·         How to build your list of motivated sellers

 Transcription

INTRO: The fastest way to learn is through someone that has already done whatever you want to do. Fastest! The fastest fastest way to get extra knowledge is to find a mentor.

PAUL DOCAMPO: All right, this is Sonny Tran. We’re in a mastermind together, and I didn’t know this about Sonny, but he is a real estate guy and a business builder, serial entrepreneur. We were talking before this about all the amazing things he’s done in marketing and sales. He’s a marketing and sales guy, and I hope to talk about his banking and finance background and how to lend, what he looks for when he’s looking at deals, analyzing deals, and how to do proper lead gen and sales techniques when finding distressed properties. So this is Sonny. Sonny, how many businesses do you own right now?

SONNY TRAN: I own seven businesses right now. They’re all kind of interrelated, which is the cool part, but there’s usually one domino that falls and affects and helps all of them. Right now it’s real estate. So I’m looking right now to acquire real estate broker agencies. I’m looking to buy real estate companies or partner up with real estate companies that are doing things to create more revenue for everyone.

PDC: You mentioned a CRM. You built a CRM as well?

ST: Yes. We actually have a CRM that we actually help investors and real estate agents kind of dig in where they can actually keep all their contacts and place in order, and they can send messages out to their customers or leads when it comes in. We have it automated 100 percent where if someone fills out a lead form, t

Serial entrepreneur, and out-of-state real estate investor Sensei Gilliland, attacked his real estate venture the same way he’s approached everything in life: with discipline. Upon launching a successful martial arts business, Sensei realized he could utilize off-hours to earn additional income. Once he grasped the power that real estate has over everything business-related, Sensei dove-in head first.

After months of classes, a few risks, and a little bit of luck, Sensei earned a net profit of $9,000 on his first home (flipped remotely from the opposite coast!). 25 years, multiple recessions, and 10,000 flips later, Sensei runs Black Belt Investors, an education, consultant, and investment firm. Sensei coaches thousands of new investors through their real estate journey every month and he’s here today to share a few invaluable insights.

Stay tuned for details behind his first deal, strategy shifts amidst COVID-19, how to fund great deals, how to forecast profitable markets, and the ultimate strategies for effective outbound and inbound marketing. 

You’ll also hear...

Why it’s important to be conscientious when choosing a business partnerHow COVID-19 is changing the real estate marketHow to sell the idea of a subject-to to a sellerWhy it’s important to aim for the equity side firstHow to extract information from sellersHow to answer sellers’ tough questionsWhy you shouldn’t explain options to a distressed seller until you know them yourselfTips for scaling your business as a wholesalerThe importance of spending money on marketingHow to stretch your marketing budgetHow to distinguish yourself from competitors with bandit signs and other marketing channelsThe risks and rewards of out-of-state real estate investingHow to watch for opportunity zones when forecasting profitable markets Why it’s important to use a property management company (that has a solid record with other investors)How to find great property management companiesWhy you shouldn’t self-manageWhy it’s beneficial to focus on off-market properties How to execute direct-mail campaigns correctlyWhy it’s important to push inbound and outbound marketing equally

With mortgage rates at an all-time low, now’s your chance to pull the trigger on REI.

Transcript

Paul:

Do you feel that there's a lot of gurus coming up in the scenes now out of nowhere?

Sensei:

Yeah.

Paul:

That's always been the case but right now at 2020, it seems like it's more abundant.

Sensei:

Yeah. Well, I mean, here's the thing. I mean, we can talk about this on the show, too. But I always tell people if you're going to jump in bed to do business with each other, you really need to shop around. Just like if you're going to buy a home, right? You don't see the first house and just buy it. You go shop around, you take a look of the neighborhood. You check out the neighbors, you check out the house for sure, inside and out, if there's any potential, if you want to grow with that house. There's a lot to it. And a lot of these gurus have jumped on after the recession when it got easy.

Sensei:

Start taking a look at 2011, 2012, these so called gurus that maybe took a course or did one or two deals or self-proclaimed gurus and coming out with whether it's a meet up or real estate club, an online course or just a sales pitch trying to promote it. But I can guarantee, I've already seen that happen back in the late '90s, kind of went away when we had the .com recession, definitely saw it from 2003 to 2007 and pretty much all of them went away in 2008. And then they jumped ba

Start your side hustle today with real estate professional Jay Helms

Do you feel stuck in a day job? Have you always dreamed of jump-starting a career in real estate but feel like you just don’t have the time? Are you searching for great opportunities to earn passive income? Jay Helms, buy and hold real estate professional and founder of W2 Capitalist, is here to tell you that it’s possible to balance your 9-5 with raising a family and building a side business in real estate.

Helms breaks down his advice for those interested in real estate syndication, the steps he took for early and prolonged success, and the crucial routine shift that changed his professional and personal life. From just starting out to scouting the right partner and finding hours in your already hectic days to grind, Jay breaks it all down.

Holding Jay’s personal blueprint outlining his strategies and secrets to success, you too can break free from your day job and build the life you’ve always wanted in real estate. 

Stay tuned. 

You’ll also hear...

Tips for diving into real estate with a W2 JobThe benefits of a buy and hold strategy versus flipping and rehabilitating homesWhy limited partner investment is a fantastic way to earn passive incomeHow to make real estate investment work for your busy scheduleWhy becoming a limited partner is a great way to learn the real estate ropesThe importance of having a great syndicatorHow to balance work and raising a familyThe benefits of waking up early to pursue your passion projectsThe importance of trading smaller properties upAdvice for those just starting out with real estate syndicationThe importance of finding the right syndication partnerHow to approach potential partnersWhy you shouldn’t sell potential partners on “the deal”The importance of asking potential partners for feedbackWhat to look for when selecting an areaWhy you shouldn’t share your side hustle

Stuck moving forward and always looking for the next deal? A chat with Flips Nerd Mike Hambright reveals how an experienced investor can start scaling toward financial freedom. Mike started REI with no job to support his family so he had to make it happen. So in a short period of time, he's flipped over 400 properties and held over 800 in his rental portfolio. Because of his background in corporate America, he's mastered building systems and placing the right people into place.

In the interview, you'll hear:

The most common characteristics of successful investors

How to build a highly responsive list'

his story of how he got started and how he was forced to make REI work for him with no job to back him and his family up

How to transition from a one-man-show to a small team.

The first person you should start hiring and how

How to shift when markets change

How to lower the costs of marketing - using the right data and lists

How much volume you need to start hiring

Predictions for REI in the next upcoming months

And much more

You learn more about Mike at www.investorfuel.com

Transcript

Mike:

We just give every house and every seller a score, and the more things you have wrong with it, the higher the score, the more likely they're going to need to sell.

Paul:

All right. Welcome to another interview at the Deals Today Podcast, and I'm your hose Paul at realestateaudios.com. And we're going to be interviewing a giant in the REI word. His name is Mike Hambright, the blogger, creator at FlipNerd.com. Now Mike's a serial entrepreneur. He's built many businesses within real estate. He has that background of business building, of being a manager in the corporate world, and building and scaling up businesses. So we're going to talk about that in this interview. He's flipped over 400 properties. He now holds a portfolio of over 800 rentals. So he definitely knows how to scale up to a financial freedom number, and he helps hundreds of other investors through his mastermind find their financial freedom.

Paul:

So that is him. That is his expertise is business building, and I want to bring that into this interview. And we're going to talk about a few other things. We're talking about the most common characteristics of successful investors. He lays that out for you. We're going to talk about how to build a highly responsive list, his story of how he got started, and how he was actually forced to make real estate work for him with no job to back him and his family up, how to transition from a one-man show to a small team, and the first person you should start hiring and how you should do it.

Paul:

All right. So of course you can check him out at investorfuel.com. I highly recommend going over there. That's his mastermind. He's helped hundreds of investors. I have no affiliate to that. That's his straight website, investorfuel.com. And let's get to the interview.

Mike:

My wife and I started in the summer of 2008. So about 12 years I guess. For the first couple of years, all we did was real estate investing. I had a job that I loved. I played the traditional game of... I really was the first person in my family to go to college. So I just found my way there, and I was one that did it. So anyway, ended up finding a really cool job. It ended up being like I can't imagine a better job. I was the apprentice for at the time a president, he became a CEO of a $5 billion company.

Paul:

Wow.

Mike:

So it was just amazing, flying around in private jets, and having real