Let's Talk Real Estate Investing with Sharon Vornholt

Some of the most lucrative deals you will ever come across are off market deals, and today I have some tips for finding these lucrative deals.

There's no doubt that there is a lot of competition for deals on the. However, the MLS isn't the only source of good deals. There are a lot of properties that are never listed by an agent and that's what I want to talk about today.

Show Notes:

• Here is a little bit of what you'll learn today:
• What exactly off market properties are
• Why they are so lucrative
• The benefits of speaking directly with the seller of the property
• Your ability to do more creative deals when agents aren't the people you're talking to
• Creating a "win-win" for everyone that's not focused solely on price
• How (and where) to find these deals
• 9 tips for success with off market properties
• Why probates are the "cash cow" of off market deals

Probate Investing Simplified

If you don't know how to get started with probate investing I can help. You can become a probate investing expert in just six short weeks if you complete my course and implement the information you learn.

If you want to fast-track your success, check out my probate investing course called, "Probate Investing Simplified." This will be one of the best investments you ever make in yourself.

Probate Investing Simplified Starter Kit (Freebie)

I have a freebie for you today to get you started with probates. Just click here to get your Probate Investing Starter Kit.

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Today I am on a myth-busting mission. I want to clear up 10 myths about probate investing that are keeping you from adding this lucrative niche to their business. These are common misconceptions investors everywhere have that just arent' true. Two of the biggest myths about probate investing are:

1. Working in probates is complicated
2. You have to know a bunch of "legal stuff".

Most of you know that I have specialized in the niche of probates for over a decade now, so I know this niche well. These are some of the best deals you will ever come across, yet so many investors are reluctant to work with probates. It's almost always because they just need a little more education, and they need a "mindset adjustment".

My goal today is to clear up those myths about probates and show you why now is actually the perfect time to add this strategy to your investing business. So, let's dive in and bust those 10 myths.

I hope by now you understand that there has never been a better time to add probates to your business than today. Not only is it one of the most lucrative niches of all, but it's also a niche where you will never run out of leads. And, the best part of all? We get to help so many people!

If you're ready to add this never-ending stream of leads to your business I have something for you.

My course Probate Investing Simplified will be opening for a short time, then it will be closing down again. You don't want to miss this opportunity to set yourself up for a new level of success in the next 12 months. This is my promise to you; you can become probate investing expert yourself in just 6 short weeks if you complete my course (and implement it).

To learn more, go to Probate Investing Simplified. Learn how to become the "go-to" probate expert in your area.

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I have talked about direct mail for a long time now. One thing that is so important to understand about direct mail is that you have to set up campaigns to be successful with this strategy. Creating absentee owner letters that get a great response all starts with consistency with your direct mail campaigns.

Sending out a whole bunch of letters or postcards once or even a couple of times is just a waste of money. Direct mail is a long-term strategy. Before we move on to creating absentee owner letters that actually get a great response, I want to spend a little time going over the basics of direct mail.

A direct mail campaign is an ongoing process of sending mail pieces to your target audience. It is not a one or two-time event where you mail to your prospects. For most groups of motivated sellers, my rule is that I mail everyone every month so long as the house is still available. There are some types of off-market deals like foreclosures that will have a different timeline.

This is what I know for sure: folks that are successful with direct mail marketing follow some tried and true principles, and that's what this article is about.

Here are some statistics for you that you just might find surprising. About 81% of your deals (not calls) will come at or beyond your 5th mailing. However, around 90% of the people will stop mailing on or before the 3rd mailing.

Stop and think about that for a minute. If you just mail consistently, you will be ahead of 90% of your competition. Just stay in the game. You want to be the last man standing when it comes to follow-up.

You can find out more about direct mail statistics here: Numbers and Statistics Aren't Always Sexy, but Great Results Are.

Here's one more statistic for you. Something like 80% of all your deals will come from follow-up. So what is follow-up? It's your ongoing direct mail campaigns, a call after someone has said no to your offer, or a second call just to follow up. It's any continued contact you have with the seller. A thank you note is a follow-up.

1. The mail piece: Decide on the type of mailpiece (letter or postcard).
2. Your message: Create a compelling message for your mail piece.
3. The design: Choose the design of your actual mail piece.
4. Your list: Put together a list of prospects. Know who your target audience is.
5. Putting the mailing together: Do it In-house or outsource it?
6. The actual mailing: Drop it in the mailbox or have the direct mail company do that for you. (Recommended)
7. Follow-up: Rinse and repeat every month.

Congratulations. You have just set up a direct mail campaign. This is the first step to creating absentee owner letters that get a great response.

One more bit of advice to help you out. You can keep your lists organized in a spreadsheet. However, you need to get a database or contact management system to manage your leads right from the beginning. You won't be able to manage this process unless you automate it.

My answer is, it depends. I generally use postcards for most of the niches except probates. (You can find out more about marketing to probates by clicking here.)

I've had good luck with postcards. However, you might need to do some split testing to find out what works best in your area. When I first started out, I used letters for everything with good results. Then when I moved to postcards, I also had good luck. One main reason to choose postcards is they are so much more economical than letters, especially if you are outsourcing your mailing. Another reason is that they have to see your message when they pick up the postcard. There is no envelope to open.

Figure out what's working in your area by testing. You can get a copy of the letter that worked well for me below. One last thing. Be sure your picture is on your postcards. Branding is an important part of getting sellers to choose you (over someone else).

There are several key pieces to a good direct mailpiece.

1. Your letter should be personalized. Wouldn't you rather get a letter that says "Dear Dan" than one that says, "Hello homeowner or dear executor" or something like that? Your letter should also have the subject property address on it.
2. Headlines and sub-headlines are some of the most important aspects of the letter. You have to get the person's attention right away so it should be scannable. The person receiving the letter should be able to determine quickly what you are contacting them about.
3. When you are using postcards, getting your message across clearly is important you have very limited space. Choose your words carefully and get right to the point.
4. Use bullet points whenever possible to highlight your message. People have notoriously short attention spans. Using sub-titles and bullet points makes it easy for the reader to scan your letter quickly. If they can easily identify with your message or your offer, they will be more likely to read the whole letter.
5. The letter isn't about you, so don't spend a lot of time talking about you or your company. You should say something like, "I will buy your house AS-IS, can pay cash, and close quickly".
6. Those are things about you (or your company), but they are also benefits to the seller. List some problems the seller might be having such as: *They tried to sell your property before you moved but didn't get an offer.*Possibly they inherited an unwanted property. *Or, they had tenants in the property and wanted to hold onto it for income. But, it turned out to be more trouble than you thought.
7. Offer some solutions or ways that you can help them now.*You won't have to worry about making any of the needed repairs. *You'll stop sinking money into a property you don't even want. *We will take care of all of the paperwork for you.

People are motivated by two things; pain and pleasure. Figure out how to make their pain go away.

Resources Mentioned In this Show

• Numbers and Statistics Aren't Always Sexy, but Great Results Are
• Marketing to Probates
• Copy of My Absentee Owner Letter
• Tips for Consistently Boosting Your Direct Mail Rates
• Direct Mail Marketing 101

Louisville Gal's Real Estate Blog

Stop by the Louisville Gal's Real Estate Blog for more great content and some awesome freebies.

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I have people ask me this question all the time: "How do I find time for marketing"?The short answer is you don't "find it". You don't wait for it to "show up".

You block out time in your schedule for marketing just like you would an important appointment. Marketing is the lifeblood of your business, so it has to be on the top of your to-do list.

I'll take it one step further. Marketing is your #1 job before anything else. You won't have any properties to look at if you don't have a marketing plan for consistently generating leads.

People will say, "Well, what about negotiation? Or, what about getting comfortable talking to sellers? Everyone needs to get better at these, right?" Yes, you do. But, you have to have potential deals before you ever need to know how to do any of these other things.

Lead generation, running comps, marketing, branding, negotiation, talking to sellers; these (and a million more) are all skills that you need to develop. However, at the end of the day, everything starts with lead generation. It all begins and ends with marketing. If you're going to be successful in this business, you have to find time for marketing which involves planning and focus.

Make a plan and put everything on a marketing calendar. That's how it happens.

Louisville Gal's Real Estate Blog

Stop by the Louisville Gal's Real Estate Blog for more great content and some awesome freebies.

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Have you ever been confused about the difference between marketing and branding in your real estate investing business? I can tell you that you're not alone. It's so important to be doing both of these 2 things simultaneously, and today you're going to find out what the reason.

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"Marketing is how you get leads, and branding is why they choose you. "

Show Notes

Here is just a sample of what you'll learn in today's show:

• The difference between marketing and branding
• What comes first? Marketing or branding and why?
• Knowing how to define what are marketing activities
• The purpose of building a strong brand right from the beginning
• Your budget and how it affects your marketing decisions
• Choosing your marketing strategies based on your "situation"
• Building a marketing machine that works 24/7
• Tips for building brand awareness
• The best type of content to create for fast results with your marketing and branding

Quote:

"Your ability to master marketing and branding will likely determine the success or failure of your business over time."

Resources Mentioned in This Show

You can pick up the resources mentioned in the show below.

• Brand Assessment Checklist
• 25 ways to Find Motivated Seller Leads
• Done for You Websites
• Business Cards
• Logos Fiverr or 99 Designs
• Book: Year of Yes: How to Dance It Out, Stand in the Sun and Be Your Own Person by Shonda Rhimes

Louisville Gal's Real Estate Blog

Stop by the Louisville Gal's Real Estate Blog for more great content and some awesome freebies.

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Getting started in real estate investing can be tough at times. If you're feeling a little stuck; if you're not moving forward at the pace that you would like to; then this show is for you.

Listen in today as my guest Farrah Ali tells you how she built an impressive portfolio of 38 rentals, completed six flips, and did 21 wholesale deals in just six short years. However, it took 9 months from her first deal to get her second deal, and she's going to tell you why that was a blessing in disguise.

Farrah is also an author, and she has a brand-new course that she will tell you about. If you're looking for inspiration, you will find it in this show.

Show Notes

Here is some of what we talked about in this show:

• How this single mom of two with a full-time job got started in real estate investing
• The light bulb moment when she realized that in spite of having an advanced degree and a good paycheck, she could never attain the lifestyle she wanted just with her job
• Why she chose real estate investing as her "side gig"
• Getting really focused on how she spent her free time when not working is one of the secrets to her success
• Mindset: Why deciding real estate is a top priority for you will allow you to grow much more quickly
• Why answering the questions, she was asked and her desire to support other female investors led to writing her book
• How your real estate education levels the playing field and helps prevent you from making mistakes or being taken advantage
• Getting ready to invest in real estate: the steps you need to take
• Why you must find a coach or a mentor early on to grow fast
• Keeping your job to pay your bills so that you can invest your real estate income
• What is your freedom number?
• Figuring out how many paid-off houses you need to live the lifestyle you want to live

Quote: "I got my first property pretty quickly, but my second property took me about nine months to get."

Reach Out to Farrah

You can reach out to Farrah at [email protected] if you have questions. Be sure to check out her freebies on her website, Farrahali.org. She has a Partnership Agreement and a Transaction Checklist that you can put in your real estate investing toolbox.

Resources mentioned in the show:

• Diaries of a Female Real Estate Investor
• Getting Primed for Real Estate Course

Louisville Gal's Real Estate Blog

Stop by the Louisville Gal's Real Estate Blog for more great content and some awesome freebies.

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Today we're going to do a deep dive into how to build wealth through real estate while traveling the country and completely stepping away from the day-to-day operations of your business.

After all, it's 2021, and real estate investors can do everything remotely. So if you are someone that has this dream in the back of your mind; you dream of building a team to run the day-to-day operation of your business and of having enough passive income through real estate so that you can travel the country (while you're still young enough to enjoy it). If that sounds like you, you're going to love this show, because that's just what today's guest April Crossley has done.

April retired at the age of 35 from a 13-year career in healthcare by investing in real estate. She sold her house this past year and now travels the US full-time in our RV with her husband and her dog while still doing real estate deals.

Show Notes

It's not just luck that lands you with this lifestyle. You need systems and processes for all the things that need to happen in your business.

• How a teenage mom on welfare finishes college, gets her master's degree, and goes on to build a successful real estate investing business
• Retiring from her healthcare career at 35 to travel the country full time
• How April can do 20-30 deals a year virtually
• Systems and processes
• Tips for raising private money from a private money lender herself
• Why you should never wait until you "need" money to set up those relationships
• How to get into real estate investing if you don't have any cash through JV partnerships
• Hard money lenders vs. private money lenders
• Why your creativity soars when you step away from your business

There is so much information packed into this show, and you don't want to miss it.

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"You will never scale with hard money. Private money lenders refer you to other private money lenders, and they will be with you for the long haul. From the time you're flipping houses, to the time you're buying apartment buildings, to syndication, they are going to grow with you".

You can find April at "Lazy Girl REI." Be sure to check out her YouTube channel, where she has a lot of amazing content. You can do that BY CLICKING HERE.

Louisville Gal's Real Estate Blog

Stop by the Louisville Gal's Real Estate Blog for more great content and some awesome freebies.

You can check the blog post here: How to Build Wealth Through Real Estate While Traveling the Country with April Crossley

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Buying and managing long-distance rental property has always been challenging for most investors. Typically, when we think of long-distance rental property, we are thinking about the property located in another state. My guest today, Billy Keels, has taken that one step further. Billy lives in Barcelona, Spain but he invests in the US in his hometown of Columbus, Ohio, and several other areas.

In spite of the geographic distance between him and his rental property, he has found a way not only to make it work but to build a successful and profitable business at the same time. His rental portfolio continues to grow as he teaches others how to achieve the same success he has attained.

Show Notes

If you've ever thought about moving into another market, you're going to find this show fascinating. Here is just some of what you'll learn today:

• Billy's path to figuring out that his high-paying corporate job and the investing strategies he was utilizing at that time wouldn't be enough to secure his future.
• Buying his first property when he was on vacation in Egypt. What he did right, and what he could do differently the next time.
• The reason he ultimately decided to invest in the US instead of in his own backyard (Here's a clue: it's always about the numbers).
• Billy's original investing strategy and how that has evolved over the years.
• How to use data to learn about new areas to invest in when you are thousands of miles away.
• Building an amazing team that helps build his business year after year.
• Why building a team must include developing a long-term relationship with your team members.
• Systems and processes
• His advice for anyone that would like to invest in an area they don't live in.

Learn More About Billy Here

Here are some ways you can reach out to Billy in addition to social media:

• His website: BillyKeels.com
• Get his free eBook here: billykeels.com/7Mistakes
• Book a call with Billy by Clicking this Link
• The Going Long Podcast.

And while you're there, check episode #107 I had the pleasure of doing with Billy where we talk about marketing, branding, and probates. Just Click Here to listen.

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Are you at that point in your business where you know you need help? Hiring an acquisition manager just might be at the top of that list. Today, my guest Mitch Stephen has some tips for hiring an acquisition manager whether it's your first one or your next one.

Real estate investors want to know things like: When should you hire one, and once you make the decision to hire an acquisition manager, what do you look for in that person? Also, how do you pay them?

We're also going to dive into seller financing in this show and a whole lot more.

San Antonio investor Mich Stephen has purchased more than 1500 houses. He is also the author of 3 books. I think it's safe to say he knows a thing or two.

Mitch is always generous when it comes to sharing his knowledge. Here are just some of the things we talked about in this show.

• Mitch's story and how he got started.
• The downside of being a "one-man show" like most businesses start out
• Why doing business this way keeps you from growing
• Preventing burnout
• The position he first hired for (and you probably will too)
• When he knew he needed to hire an acquisition manager
• Should an acquisition manager be one of the first team members you add in your business?
• What do you look for when hiring someone new?
• Adding team members down the road; scaling up to build a real business
• Tips, tools, and technology
• Mitch's final advice for building a real business

For more great tips on building your brand, be sure to visit the Louisville Gal's Real Estate Blog.

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Do you ever wish marketing was easier? Could it be that you're making it harder than it actually is? Probably so. I know I did at one time. One way to make it easier is by learning to tell your compelling story.

One important component of successful marketing is having a strong brand working for you behind the scenes. If you do a good job of branding, all your marketing will work better. Today, I want to talk about one important component of marketing and branding which is learning to tell your compelling story.

Everyone has a unique story that plays an important part in creating their brand. But you have to become an expert at telling your compelling story. If you think about it for a minute, one of the first things someone asks you when they first meet you is, "What do you do"?

This is where it begins.

Show Notes

I'm going to break it down for you in this show so that you'll know exactly to tell a compelling story that generates more leads in your business.

• The reason you need to get good at this, and how it ultimately grows your business.
• Why there are two versions of your story, and why do you need both of them.
• The purpose of the short version of your story and when to use it.
• When to direct someone to your longer story.
• My process for crafting your compelling story in 60 minutes or less.
• Learning to become an expert at telling your compelling story.
• The reason mastering this one thing helps you get more deals.
• Figuring out your "superpower". What is that ONE thing you do better than your competitors? (You definitely have one)
• Ways to use your compelling story to build your business and your brand

Come on Over to the Blog

For more great tips on building your brand, be sure to visit the Louisville Gal's Real Estate Blog. There is a wealth of information on branding and marketing there.

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