Investor Cheat Code Podcast with Mike Simmons

On today’s episode of Just Start Real Estate, I have the pleasure of talking with entrepreneur Rod Khleif. Rod has worked in real estate since the early 1980s, inspired by his mother. He was born in the Netherlands and migrated with his family to Denver at the age of six, and for their first few years in the States, the family struggled to make ends meet. However, his mother was thrifty and forward-thinking, earning money from babysitting that she then invested into stocks and eventually into property, despite having no formal background in finance or real estate. Rod followed his mom’s example and got his real estate license in 1978. 

In his first two years as a real estate agent, Rod made enough money to get by, but in his third year, his income rocketed to over $100,000. He was able to achieve this by adjusting his mindset around wealth and earnings. However, he suffered during the 2008 recession, losing $50 million in that year alone. He was able to bounce back and today he helps others to build themselves up from nothing. 

One of the first strategies that Rod deployed to get back on his feet after the 2008 crash was reassociating himself with what he wanted. He realigned himself with what his goals were and why he wanted to achieve them. Secondly, he also changed his focus to concentrate on his goals, ignoring anything that didn’t help him to achieve his objective.  

Next, Rod walks me through his goal-setting strategy. His technique begins by selecting his goal-setting time carefully; he recommends choosing an hour in the day when you’re naturally full of energy. In this hour, Rod asks that you sit down and write all the things that you want in life, from houses to cars to jetskis to private islands, letting your imagination run wild and never stopping to question what comes out. Once you’ve written down everything you can possibly think of, large and small, you start writing the list of the things you want to do in your life, such as places you want to visit, bucket list items you want to achieve and so on. You should also write down everything you want to learn, like foreign languages or college degrees. Lastly, you write down the people that you want to help. 

The next step to Rod’s goal setting technique is to add a time limit to each goal, without overthinking the limit that you assign. Then from that list, select your number one goal, the thing that you want to achieve the most out of everything, and write it on a separate piece of paper. You then need to select your top three goals that you can achieve in one year, and add them to the paper with your top goal. For each of these four goals, write down why you want to achieve that goal, using emotionally charged language. You should also write down what would happen if you don’t achieve these goals, not being afraid to dig a little into the pain. Afterward, find images that represent these goals to keep around you, so that you’re constantly reminded to achieve them. 

Rod also emphasizes that happiness doesn’t come from goals, it’s about overall progress and growth. It’s important to celebrate achieving a goal, but you should always have something lined up behind the goal so that you keep moving forwards. He also makes an effort to help others and reach out to people in need and encourages everyone to do the same, regardless of their income level.  

Stay tuned to the end of the podcast to get Rod’s exclusive promo code to make incredible savings on his three-day Orlando seminar, and to receive a load of his other courses at a hugely discounted price! What a pleasure to have such a generous and successful real estate investor such as Rod Khleif on the Just Start Real Estate Podcast!  

Notable Quotes:

“80-90% of your success in anything in your mindset and your psychology.”

• Rod Khleif

“Peer group is so frickin’ important. You want to be around people that encourage you, validate you, push you, who aren’t afraid of your success, aren’t jealous of your success, and who aren’t going to hold you back”

• Rod Khleif

“If you’re listening to Mike, you’re a leader. There’s no question that you’re a leader. And right now more than ever, the world needs leaders.”

• Rod Khleif

“Take the limits off yourself. There’s nothing you can’t do, be, or have”

• Rod Khleif

“It’s never about the goals, it’s about creating that burning desire so that you get your butt up early, you stay up late, you work a Saturday, you grind for a few years like most people won’t, so you live the rest of your life like most people can’t.” 

• Rod Khleif

“As human beings, we will overestimate what we can do in a year, and massively underestimate what we can do in five, ten, twenty years”

• Rod Khleif

“There’s a reason that the acronym for belief systems is BS, because 99% of them are just that: BS.”

• Rod Khleif

“The most successful people on the planet add the most value.”

• Rod Khleif

“Don’t be in the same place you are in a year from now, unless you love where you are right now.”

• Rod Khleif

“Don’t tell me that you’re going to give back when you get money. Find a cause that you care about, that juices you, and do something right now. We’ve been taught to achieve to be happy, and if you give back, you’ll be happily achieving, and the success will come faster.”

• Rod Khleif

Links:

Rod Khleif

Rod on LinkedIn

Rod on Twitter

Rod on Instagram

Rod on Facebook

Rod on YouTube

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

If you want to attend Rod Khleif’s 3-day seminar in Orlando, Florida, from December 3rd to 5th 2021, text ‘MULTIFAMILY’ to 72345, including the promo code ‘ROD FRIEND’. This code will give you:

• Access to the seminar

• Rod’s 8-module ‘Courage and Confidence’ course

• Rod’s 10-module ‘Finding Deals’ course

All for only $197!

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

This presentation is the live Q&A that I did the week of November 3rd and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“If the market starts to turn and prices start to go down, that is a good thing for investors.”

“If the market does crash, the media will be telling everyone ‘real estate is bad,” but it is really the best time to rush in.”

“Real estate investors rush into the burning house when everyone else is rushing out.”

“There are things that you can do to rehab your investment property that have a huge impact psychologically, but that don’t cost that much.”

“I empathize with people that have a corporate job and don’t know how they are going to find the time to start investing, but I don’t have a lot of sympathy for it and I don’t encourage that kind of thought.”

“You have to really analyze what are priorities are. We decide our priorities.”

“If you watch any level of TV at all, maybe change that, right?”

Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

In today’s episode I’m joined by, not one but two, amazing guests - Kyara Gray and Khalil Uqdah! Kyara and Khalil are Founders of Charm City Buyers. They are passionate about changing the narrative in Baltimore and shifting generations by building wealth through real estate. From recent college grads to full-time entrepreneurs, they have grown their 7-figure real estate empire all before the age of 30 via the “School of Hard Knocks”. With a portfolio of 20+ rentals and an eye for great flip deals, they have their eyes set on showing the masses how to add value to their communities and combat the negative impacts of gentrification through ownership. 

Kyara and Khalil first share their background story and how they got started in real estate. They have been investing in real estate for almost 10 years. They are extremely focused on how to turn vacant houses into homes, how to build wealth through real estate, how to really impact the community, and change the narrative of when Baltimore comes to mind, not only as just a city, but also as an opportunity to invest in real estate. Before real estate, they were struggling to find their niche, from software companies to sales, but one thing that stayed consistent was their desire for a positive community impact and wealth building. 

We then talk about their transition from their full-time jobs to entrepreneurship. Kyara explains that she was the one who introduced the idea of real estate to Khalil, but it was his passion for entrepreneurship that opened their minds to the opportunities in real estate. Their transition from full-time jobs to real estate was gradual, they slowly eased into it until they had enough residual income from their rentals that allowed both of them to quit their 9 to 5 jobs. 

We then move on to talking about financing behind their deals. When it comes to financing, Kyara explains that for them it was crucial to learn and understand how money works. They used different methods and approaches to get access to capital, from working with a nonprofit to using a private lender. Kyara also shares that there are nonprofit lenders all over the country who are focused on building communities, as well as developers who are interested in doing great work in neighborhoods. Khalil shares that they've also been awarded over $3.6 million of tax credits and grants in 2020 and 2021.

Next, we talk about how to know where to focus your energy and your efforts. Khalil shares that the most important thing for them was to make sure that there's enough financial income on a residual basis to ensure that they can really pivot and do whatever they want. This is where the rental game came in. They started with rentals but soon decided to start flipping as well because they wanted to add value to the goals and initiatives of Baltimore City and build homeownership. Now, they are taking it a step further working on a large construction project with 50 homes in Baltimore.

We also talk about running a business as a couple. Kyara and Khalil share that in the beginning, they were running a pretty small operation where both of them were hands-on as much as possible. Nowadays, they have a team and they both have their own roles and their own responsibilities. One thing that really helps them out is that they're very specific and intentional about defining what it is they’re trying to do and accomplish together, and they use that as their Northstar to continue to push forward.

Lastly, we talk about why 2021 is a great time to be investing in real estate. Kyara explains that a lot of money is always made in chaos. A lot of people have made a whole lot of money during the last 18 months since the pandemic started. The key is knowing and understanding that even though the market in the MLS is hot right now, there's a lot of other places where you can find deals, particularly off-market. But there are still places that aren't seeing that same level of energy and that changes very, very quickly. This is something that Kyara and Khalil have been really, really vocal about this entire time - don't let what you're hearing scare you away from taking action in the spaces and areas that are going to see so much growth in the next 5 to 10 years because of some of the seeds that are planted right now. You don't have to compete in the MLS with people who are looking to buy their first, second or third home, but taking action now is really going to position you for winning long term.

Make sure you don’t miss this amazing episode of the Just Start Real Estate Podcast with Kyara Gray & Khalil Uqdah and find out why 2021 is a great time to start!

Notable Quotes:

“One thing that stayed consistent is that positive community impact, building wealth and something you can pass down was always at the front of mind.”

• Khalil Uqdah

“Once I understood how much power real estate had in building wealth and getting more control over financial freedom, it became a no brainer for me.”

• Kyara Gray

“If you don't work with your hands, work with your brain and one step further - own the company.”

• Khalil Uqdah

“In terms of mentality and emotion and our passion, we were all in from the beginning.”

• Khalil Uqdah

“We were using our 9 to 5 to fund our 5 to 9 before it was a cool thing to say on Twitter.”

• Kyara Gray

“They print money 24 hours a day, seven days a week, and it's your job to go get you some.”

• Kyara Gray

“Every single person I've ever talked to that has success doesn't let setbacks stop them.”

• Mike Simmons 

“The difference between us and everybody else that considered real estate, is that we just never quit.”

• Kyara Gray 

Links:

Charm City Buyers on YouTube 

Charm City Buyers  on Instagram 

Charm City Buyers on Facebook

Charm City Buyers on Twitter 

Charm City Buyers on LinkedIn

Opportunity Finance Network 

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

This presentation is the live Q&A that I did the week of October 27th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“We are seeing a market that is holding pretty steady.”

“The market is still hot, right? But who cares?”

“Don’t listen to people that are being negative and saying real estate investing won’t work.”

“Don’t listen to people who don’t know what they are talking about.”

“Surround yourself with people who understand your goals and have achieved what you would like to achieve.”

“I highly suggest that you join a mastermind or a program like mine so you are in a group with people just like you.”

“I have never met a seller who had the slightest clue what the renovations of their house should cost.”

“A new house flipper cannot rely on the seller’s repair estimate.”

“You only want to renovate to the point that you are following suit with the rest of the neighborhood.”

“If you get stuck in a rut or are confused, go back to driving leads. Leads are what you should be working on no matter what else is going on.”

“If you stop getting leads, your business is dying.”

“When you are making tons and tons of offers, you just have to get in the ballpark.”

Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Today, I welcome Bryan Driscoll onto the podcast! Bryan is a real estate investor, a digital marketing and SEO expert, and the Co-Founder of Motivated Leads, a digital marketing agency that helps real estate investors expand their portfolios quickly by generating quality motivated seller leads. He has over a decade of experience doing SEO for both large and small companies, startups, and fortune 500 companies and has been recognized by Forbes and other major publications for his work.

Bryan started by sharing a bit of his background and how he got into this side of the business. He said he got his start in digital marketing in the early 2000s, mostly working in search engine optimization or SEO dealing with bigger eCommerce companies. Bryan bought his first rental property about seven years ago and that got him into doing local marketing in the real estate space.

I asked Bryan to talk about some of the mistakes he sees people making with their websites and using SEO in order to draw traffic and get a higher free google ranking. He talked about how intimidating a super-fancy website can be to a seller that just wants someone to give him a decent offer for his home. He said the call to action and a strong, clear message is most important.

Next, we talk about Facebook Ads and Google SEO. Bryan uses Google Pay Per Click and Facebook. The difference is that on Facebook, you're paying per impression while on Google you're paying per click. Also, on Google, you're competing on a keyword basis while on Facebook, you’re competing on an impression base. With Facebook you can get a cheaper reach, click and lead then with Google Pay Per Click. So, his advice is to always start with Facebook first and then add Google Pay Per Click later on because then you have that high intent person coming to the website, and if they don't convert you’re living in their Facebook feed, especially if you have testimonials.

Lastly, we talk about how sellers can adapt their lead gen strategy to accommodate the market. Bryan explains that the most important things are to build a brand, to build something that's trustworthy and to be extremely direct with your marketing. Because the goal isn't to get more leads. The goal is to get good leads and good motivated sellers. Another important thing to note is that whatever platform you're using to drive traffic to your website, you always want to: first, capture their information (their phone number, their email, get them to fill out your form; and second, ask additional questions (why do you want to sell, confirm your property's not listed on the market, how much work does your property need, how fast do you want to sell it, etc.) Asking those additional questions is going to give you an indication on if they're motivated and it's also going to weed out the people who are not serious about selling. Bryan’s final advice is to set up an automated text message that will send out your link and ask them to book an appointment with you, to anyone who fills out a form on your website.

Don’t miss this awesome episode of the Just Start Real Estate Podcast with Bryan Driscoll and learn the keys to finding more motivated sellers for your business!

Notable Quotes:

“Finding motivated sellers is, and always will be, a top priority for real estate investors.”

• Mike Simmons

“Getting leads into your pipeline is the blood that keeps the body alive.”

• Mike Simmons

“Website aesthetics don’t matter as much as a strong call to action and a strong message.”

• Bryan Driscoll

“The traffic you get to your website is more important than the message on it.”

• Bryan Driscoll

“Rewrite the content, rewrite it unique for you. Because if you have two different websites with the same words in the same order, how can the search engine determine which one's more relevant?”

• Bryan Driscoll 

“It's more important the traffic you get to that website, then the message on the website.”

• Bryan Driscoll

“Build a brand, build something that's when people see it, it's trustworthy. And then also, be extremely direct with your marketing.”

• Bryan Driscoll  

“The goal isn't to get more leads. The goal is to get good leads, good motivated sellers. ”

• Mike Simmons

“If you want to avoid spending 5 million to figure out what Bryan knows, go straight to Bryan. Ask him what he figured out and get him to help you. “

• Mike Simmons

Links:

Bryan’s Website

Motivated Leads Website

Bryan on LinkedIn

Motivated Leads on LinkedIn

Motivated Leads on Facebook

Motivated Leads on Instagram

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

This presentation is the live Q&A that I did the week of October 20th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“If you are worried about making a lethal mistake, you need to have a mentor, a coach, and/or a mastermind.”

“You need to be able to have your questions answered by people who have been running a business and have had success so that you are not just figuring it out as you go.”

“There is nothing worse than handing a realtor 50 leads in a month and never hearing about them again.”

“I’m not afraid of competition, but I don’t want you to waste my time and use me.”

“Lead with value. Figure out what you have to offer that will be of value to that business owner.”

“Try to find a way to make their life easier or be a source of revenue for them.”

“When it comes to marketing, you have to be consistent. That is the secret sauce.”

“Come up with a marketing plan and budget that you can maintain for six months and execute.”

“Don’t stop it and start it… marketing is very much a momentum thing.”

“Long-term rentals are good because they are much more passive than short-term rentals.”

Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

My guest today is Ari Galper. Ari is the world’s #1 Authority on Trust-Based Selling. He is the author of Unlock The Sales Game and The One Call Sale and has been featured in CEO Magazine, Forbes, CNN, SkyNews, Australian Financial Review. Currently, Ari is the most sought-after trust-based selling authority for advisors, consultants, business owners, and entrepreneurs, as well as major corporations such as Citibank, Telstra, and General Electric

Ari first shares his background story and how he discovered trust-based selling. Twenty years ago, Ari was a sales manager at a company that launched the first online website tracking tools for collecting data, now known as Google Analytics. One day, he got a huge opportunity to pitch their product to a company that could double their revenue. They got on a conference call, everything was going great but after the meeting was over, Ari accidentally pressed the “mute” button instead of the “off” button. Knowing that the meeting went great he was surprised to hear them saying, ‘We're not going to go with him. Keep using him for more information and make sure we shop somewhere else cheaper.’ It was at this moment he realized it has become socially acceptable not to tell the truth to people who sell. He also realized that the reason for this was that people put their guard up when they know that they are talking to someone who is trying to make a sale. So, he decided to come up with a system, a method that would take that pressure out of the sales process, so that both parties can come together and build trust with each other. 

We then move on to discussing how to build trust when you are trying to make a sale. Ari explains that you can still be ambitious and go after your goals, but you are not allowed to transfer the pressure you feel onto the person to whom you are trying to sell. In order to do this, you first need to address some of the sales myths. Such as that sales is a numbers game; the more contacts you have, the more calls you make, the more sales you get. According to Ari, in today’s economy it’s not about how many calls you make, it’s about how deep you go in each conversation, it’s about building trust. The second myth is the sale is lost at the end of the process. According to Ari’s research, the sale is lost at the beginning. And finally, the third myth: rejection is part of the game. Rejection is triggered by certain things you say and do that cause the other person to put their guard up. 

Next, we talk about what attributes the most to not getting a sale. Ari explains that the first shift that needs to happen, if you are looking to make more sales, is a mindset shift. If you want to make a sale, you have to detach yourself from your goal, you can’t put your own agenda at the center, instead you have to put yourself into your client’s world. Next, you need to use trust-based language, words and phrases that won’t trigger off any alarms for your clients that associate you with the negative salesperson stereotype.

Lastly, we talk about Ari’s program Unlock The Game. This program directly challenges all the selling “rules” that are considered status quo thinking among most small and large businesses and provides a new and authentic sales mindset, along with trust-based languaging. Ari explains that the most important thing here is to take the pressure out of the process and shift your mindset and language so that you build a moment of vulnerability with your clients. 

Make sure you don’t miss this amazing episode of the Just Start Real Estate Podcast with the world’s #1 Authority on Trust-Based Selling, Ari Galper. Learn how to stop selling and start building authentic relationships based on trust and integrity that will result in endless possibilities!

Notable Quotes:

“I realized at that moment, that somewhere along the way it has become socially acceptable not to tell the truth to people who sell.”

• Ari Galper 

“Typically, buyers and prospects are afraid to tell us the truth because there is an invisible river of pressure that flows underneath every sales chat we have with someone, and their guard is up.”

• Ari Galper

“You can still be ambitious. You can still have goals. You can still go for those goals, but you're not allowed to transfer that pressure from you to the other person.”

• Ari Galper

“We discovered that in this economy, it's not about how many contacts you make anymore, how many calls you make, it's about how deep you go in each conversation.”

• Ari Galper

“You've got to let them know you care about them. And this is the missing component in the sales world, that we don't have a way to convey to people that we care about them.”

• Ari Galper

“If you attempt to move somebody forward and they aren't ready yet, you break the trust right there at the beginning.“

• Ari Galper

“Delivery is half of the trust.”

• Ari Galper

“When they sense your enthusiasm premature to their enthusiasm, immediately the sales alarms go off. ”

• Ari Galper

Links:

Unlock the Game 

Ari on LinkedIn 

Ari on Facebook

Ari on Twitter 

Ari on Instagram

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

This presentation is the live Q&A that I did the week of October 13th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“I think a good working relationship starts with clear expectations.”

“You don’t know what you don’t know and sometimes you don’t know what questions to ask.”

“Sales tactics without compassion will always fail.”

“How much is your brain focused on how much you want that sale versus truly thinking, ‘I want to help this person’?”

“Make sure the sellers are motivated before you spend tons of time trying to buy their house.”

“You cannot manage a millennial the same way you manage a Gen X person.”

“Millennials view their job and their workday differently than people that are older than them.”

“Millennials believe they are entitled to a workplace that makes them feel fulfilled, and that isn’t necessarily a bad thing.”

“It is possible if you have workers that are not getting the job done, it is possible they don’t have the values that you want in the company.”

Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

I am happy to welcome fellow investor Gary Boomershine to the show today! Gary is the Founder of RealEstateInvestor.com which he started in 2005 out of the need to scale and grow his own real estate investing business. His company caters to top producing agents, investors, and smaller hedge funds who are looking for a competitive advantage in their local markets. Gary is also the host of the Real Estate Investor Huddle Podcast and has been featured as a guest on many podcasts including the Best Real Estate Investing Advice Ever Show with Joe Fairless.

Gary first shares his background story and how he got into real estate. Before creating Real Estate Investor, the largest marketer in the entire real estate niche with close to 90 million pieces of direct mail and 9 million interactions with sellers, Gary got his computer science engineering degree. However, he comes from a strong real estate background - his parents owned a real estate brokerage and Gary got his license as soon as he turned 18. After college, he started his engineering career and was doing pretty well for himself, but the only downside was that he was working 90 hours per week. This all changed on May 17th of 2004, after a single seminar that ignited his passion for real estate. With a $700,000 mortgage, Gary and his wife decided to cut ties with the corporate world and dive straight into real estate investing. 

We then move on to discussing the importance of leverage in real estate. Gary explains that a lot of people call themselves real estate investors, but they're really real estate business operators, meaning they are building a business based on real estate. The key is that every business needs a CEO and if you're the CEO and you're doing $10/hour work, you're going to have a $10 bank account. So if you're running a business, you have to understand that it’s a finance game and the leverage component is - you're leveraging other people's money, possibly your own, but you're also leveraging other people's time, experiences, and resources. A lot of people get stuck because they try to do everything themselves and it's a trap. You need to understand the value of your time, which is probably between $250 and $1,000 dollars an hour or more. So, if you're doing anything that's $10/hour work, you need to find someone to do it for you, and instead of thinking of it as an expense, think of it as a return on your investment.

Next, we talk about when it is a good time to start building your team and what to look for. According to Gary, you need to do it as soon as possible. If you're committed to doing real estate, you first have to figure out if you’re going to find properties on the market (typically through a realtor) or you're going to go off-market, which means you're going to go directly to the seller. No matter which way you choose, somebody has to do the work; on average it takes 45 leads to close a deal and 45 leads is a lot of work. All of these tasks require a lot of work so you need to build your team right away.

We then discuss the process of finding leads. Gary explains that around 25% of their clients at RealEstateInvestor.com want everything done for them; they just want to meet with the sellers. For a set amount Gary’s team generates the leads, screens the leads, does all the phone work and all the qualifying. So, for about $10/hour they can hire a team of people who are experts at pulling the mailing list, at skip-tracing, at finding things that nobody else can find because they know better than anybody else in the country what works and what doesn’t. Gary also goes on to explain that their perfect client is somebody who understands that real estate is their vehicle, somebody who already had some level of success, and somebody who is ready to scale up.

Lastly, we talk about what marketing strategies are working best right now. Gary shares that real estate is a cycle and right now we’re in a euphoric stage of that cycle where a massive number of people are competing for the same types of deals. According to Gary, the central and the south-central part of the country work best at the moment because it’s a lot less expensive to generate deals in that area. Gary also explains that only 3% of all deals come off of the first inbound call, 97% of all deals take six to seven interactions with the seller, which means you have to be really good at following up on a text or a call, use the right words at the right time. Gary’s team follows up automatically, for a minimum of two years.

Make sure you don’t miss this incredible episode of the Just Start Real Estate Podcast with the amazing Gary Boomershine and learn all the secrets of leveraging and creating a sustainable business!

Notable Quotes:

“Most of us get into this business for financial freedom and having a life. Real estate can give us that, it’s the vehicle for that if you understand that it’s a finance game and a game of leverage. But a lot of people get stuck and reinvent or re-manifest the slavery system. It becomes a job, a terrible job.”

• Gary Boomershine 

“You want to understand the why about real estate before the how. The how is easy."

• Gary Boomershine 

“There are three buckets in real estate: cash now, cash flow, and cash later. Most people focus on the cash now, which is fixing and flipping. But true real estate investors are people who actually are buying and holding for the long haul.”

• Gary Boomershine 

“A lot of people call themselves real estate investors, but they're really real estate business operators. Those are people that are building a business based on real estate.”

• Gary Boomershine

“You can automate almost everything but you can't automate talking to the seller. You have to build a relationship.”

• Gary Boomershine

“You got to pick one direction, get it working, scale it, and then you go on to the next one.”

• Gary Boomershine

Links:

Gary on LinkedIn

Gary on Facebook

Real Estate Investor

Real Estate Investor on Facebook

Real Estate Investor on Twitter

Real Estate Investor on YouTube

Real Estate Investor on YouTube

Real Estate Investor Huddle Podcast

For a free copy of The Freedom Code and a number of other amazing free resources text Just Start to 9253200575 

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

This presentation is the live Q&A that I did on October 6th and each week on Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“Whatever you are doing right now to get deals is a process and a system and you need to get that down on paper.”

“Have the person you hire flesh out the process that they are responsible for.”

“I have never invested in luxury homes because it is such a niche market. The buyer pool is very small and they can be very finicky.”

“I had two people reach out to fully fund my next deal before I finished with the first one.”

“After the first deal, I used private money to fund all my flips going forward.”

“Time and financial freedom don’t happen right away. Real estate investing is a business, too.”

“You need to start building a team sooner rather than later.”

Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months