Let's Talk Real Estate Investing with Sharon Vornholt

If you're thinking about getting started in real estate investing, you're probably focusing on strategies, negotiation, and how to find your first deal. However, I want to ask you a question. Have you ever thought about the things you need to do before you start investing? I'm talking about things like getting your "financial house in order" before you ever think about launching your business.

Probably not.

Taking these steps will make everything else so much easier as you build your business.

My guest today, is Dr. Patricia Red Hawk. Patricia is a former physician, she served in the California Army National Guard, and is now a full-time real estate investor who has some great advice on things you need to do before you start investing. You're also going to learn about a brand-new investing strategy.

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"Getting yourself set up means everything that comes after is going to be much easier. Then you're not building your plane while in flight". -Dr. Patricia Red Hawk

Show Notes

This show is packed with so much content. Be sure to stay on until the very end so that you hear about Patricia's brand-new investing strategy that she is launching in Portland, OR. This is cutting edge folks!

• Your "pre-launch strategy": The 3 things you need to do before you start investing to get your "financial house in order".
• The tools you need to invest in before you launch your business
• How long it should take to get everything in place before you begin doing business
• Reverse engineering your path so that you meet your goals
• The exact words to use to approach someone about doing a JV deal with you (when you don't have the experience or the cash)
• How many hours a week you should spend on your part-time investing business
• Market cycles: what are they?
• Evaluating new markets: how market cycles and trends influence your strategies
• How to decide if something new is for you without spending a lot of money
• Changing lanes: moving from distressed properties and the BRRR strategy to an innovative strategy involving pretty houses in Oregon
• Renting bedrooms in upscale houses (with all the amenities) to 6 figure earners that don't want to live in an apartment
• How someone can live in one of Patricia's houses for the price of a 1-bedroom apartment in certain areas of the country
• 3 things you should get from a good coach
• And so much more!

Resources Mentioned in this Show

• Probate Investing Simplified Course
• Book: The Millionaire Real Estate Investor by Gary Keller
• Patricia co-authored the book, "The Only Woman in the Room"

Stop by the Louisville Gal's Real Estate Blog for more great content and to read the full article.

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No matter what type of marketing you're doing in your real estate investing business, boosting their direct mail response rates is always one of the top concerns for real estate investors. Today I want to talk about the things you should consider in your overall marketing strategy that will make a big difference in your results. But I also want to show you some statistics so that you can see firsthand how boosting your direct mail response rates happens with consistent marketing.

Show Notes

Here are some of the highlights in this show:

• Marketing: the big picture
• MLS or off-market? Which is the best lead source?
• Exit strategies and why you need more than one
• How your niches and your strategies influence your marketing decisions
• Why your direct mail marketing machine will bring you a steady stream of leads year after year
• Statistics: boosting your direct mail response rates
• Why the 5th contact is where the magic begins
• Follow up: one of the secrets to your success
• Understanding how fast your competition throws in the towel, and how that benefits you.

Final Thoughts

If there is one lesson, I want you to take from this show, it is this: direct mail marketing is like the analogy of the hare and the tortoise. In most cases, you don't have to be first of the fastest. You need to be consistent. Slow and steady wins every time.

Get the Full Statistics Here

If you would like to make a copy of these statistics, I will put a link here in the show notes to the blog post called, "Numbers and Statistics Aren't Always Sexy, but Great Results Are".

Stop by the Louisville Gal's Real Estate Blog for more great content and to read the full article.

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"Go out there and make yourself 1% better every day". -Terry Burger

You know you need help in your business. Not only are you working too many hours, but no matter how much you work you still can't get it all done. If that sounds like you, then this show is for you. Today you're going to learn some tips for building your real estate investment dream team from seasoned investor, Terry Burger. Terry has a hiring process that dramatically increases your odds of finding the right person for each position in your business as it grows.

Terry left his public-school teaching career in 2001 and became a top producing retail real estate agent in Atlanta area where he sold over 1,000 homes. He is currently the CEO and founder of the growing "Nice Guys Buying Houses" brand which currently operates in the Atlanta, GA Greenville, SC, and Huntsville AL markets.

Show Notes

Most real estate investors are "winging it" when it comes to hiring team members. Building a real estate investing dream team doesn't happen overnight, and it definitely doesn't happen by accident. Listen and you'll discover some invaluable tips for hiring the right team member every time.

• Making the leap from high school teacher, to Realtor, to real estate investor
• Why you really need to build a team: to get your life back!
• Proactive, reactive, and panic hiring
• Why making the right first hire is so important
• Mistakes: never hire for the future; only hire for the "now"
• The importance of seeing the end
• Getting rid of the things that aren't your superpower
• The real meaning of procrastination when it comes to hiring
• Weeding out people that aren't cultural fit with the "short interview"
• Why using the Disc Profile is so beneficial in the hiring process
• Filtering out people that aren't right for your business without ever speaking to them
• The reason you need to choose people that are OK with being outside their comfort zone
• Core values and company cultures and how they influence your hiring decisions
• The importance of having job descriptions before you start the hiring process
• Interviewing tips to get the top talent
• How making training videos will make your life so much easier when it comes to hiring
• Building your real estate investing dream team one person at a time

I can promise that if you implement these tips and the tried-and-true processes outlined in this show, you'll make better hiring decisions every single time. Building your real estate investing dream team will be completely within your reach.

"If you want 1% talent, you have to talk to 100 people when hiring". – Terry Burger

Resources

Books:

• Who Not How by Dan Sullivan
• The Who Method for Hiring by Geoff Smart

Resources for Hiring:

• Upwork
• Onlinejobs.ph

Stop by the Louisville Gal's Real Estate Blog for more great content and to read the full article.

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One of my most-read posts on the blog is called, "Creating Absentee Owner Letters that Get a Great Response", and I will put a link to that blog post in the show notes. Both letters and postcards work for marketing to absentee owners, and I used letters for many years. However, today I want to look at the benefits of using postcards when you're marketing to these folks. Not only are there financial benefits to using postcards rather than letters, but there's another big reason you might want to choose postcards when marketing to absentee owners. They get read!

Here Are Some Statistics

According to the company, "The Address", they have a 100% open rate. That's pretty obvious since there's nothing to open. They go on to say this:

• 54% of postcards are read by the recipients – they are the most read type of DM
• 56% of consumers say they have tried a new business after receiving direct mail
• 70% of consumers have renewed a previous business relationship after receiving direct mail
• 90% of Americans prefer the personal aspects of direct mail over email

The direct mail marketing association found that postcard marketing leads have the cheapest cost per lead compared to any other marketing method. That's pretty impressive.

According to Hub Spot, although direct mail's response rate has dropped over time, it's still a valuable tool for marketers and salespeople. The Direct Marketing Association found direct mail's response rate is 4.4% — compared to 0.12% for email. In my experience, it's a little lower than that for real estate investors; it's more like 1-2%

What I Found in My Business

When I tested postcards against my direct mail letter specifically for absentee owners, I found that postcards performed just as well if not better in some instances than letters.

When Should You NOT Use Postcards?

This answer is simple. For probates. People that have lost a loved one find it insensitive to receive a "we buy houses" postcard in the mail. In fact, they probably will never do business with you if you use postcards. Marketing, in general, is different for probates.

If you want to learn about probates and how to market to this very lucrative niche, check out my course Probate Investing Simplified.

Show Notes

Out of state absentee owners have always been a group of sellers that I have had good luck with. I like to call these deals "marketing money". I always knew I wasn't going to be a millionaire from just this one niche, but it was lucrative enough to pay for all my marketing for the year.

• What is the best size postcard to use?
• Which design is better?
• What should the focus of your message be?
• Getting your list
• Which days of the week are best for sellers to receive your mail?
• One of the major benefits of using a small postcard
• The two main reason postcards out-perform letters in many
• One of the major reasons you may not be getting good results
• Fatal flaws in direct mail campaigns

Final Thoughts

If you get these 4 things right, you'll be on the road to success:

1. Your list
2. The perfect mail piece for this group of people
3. Your message. Remember, "Don't try to sell steaks to a vegetarian."
4. Consistence in your mailings

Quick Question…

Do you have better results with letters or postcards when mailing to absentee owners? Let me know!

Resources Mentioned in the Show

• Probate Investing Simplified Course
• Creating Absentee Owner Letters that Get a Great Response

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Over 1 million new businesses were started in 2020, and a staggering 80% of those businesses will fail within 5 years. That is a statistic that is hard to wrap your brain around. An 80% failure rate. I'm excited to introduce you to a book and a concept called, "The Pumpkin Plan: 7 Steps to Grow your Business Fast".

I recently came across this book that I read back in 2014. I still believe is one of the best business books on the market, because it teaches you focus. The book, "The Pumpkin Plan" was written by Michael Michalowicz. It lays out a simple strategy to grow a remarkable business in any field including real estate investing.

This author has written a few more books since 2014 and you're sure to recognize some of them.

• Clockwork
• Profit First
• Fix this Next

In "The Pumpkin Plan", he talks about some powerful concepts but there is one that is known to most every entrepreneur. That is no matter what business they are in, entrepreneurs, more often than not, reach a point where they are worn down, facing burn out and are likely to be overwhelmed most of the time. This is particularly true in those first critical years when you are trying to get your business off the ground.

This is where Michael Michalowicz found himself. He was working long hours; he was completely worn out and in spite of bringing steady money in the door, he rarely had any left at the end of the month. He learned that in trying to please everyone, you often end up pleasing no one, and he knew he had to make a change.

After that, something happened. One day Michael read an article about a local farmer who had spent his entire life growing giant pumpkins. You know — the ones that win the prizes in contests because they are huge. In that moment, after reading about the pumpkin farmer's process for growing that one perfect pumpkin, he realized that anyone could use this same process to grow a remarkable business.

He went to work creating a "Pumpkin Plan" for his own business. Since then, he has grown multiple successful businesses using these effective strategies.

Show Notes

The author has a lot of wisdom in this book that you can put into practice in your business. Here are just a few of the highlights:

• The 7-step process to grow a giant pumpkin (a successful business)
• Planting the right seeds: don't plant watermelon seeds if you want to grow pumpkins
• Remove all of the less promising pumpkins that are still on the vine. Put all your attention on the best one.
• Michael's 7-step process for pumpkin planning (creating your plan) for your own real estate business
• Positioning yourself to attract the perfect customers
• Firing your rotten clients (yes you need to do it)
• How to avoid being blinded by shiny object syndrome
• The secret sauce

Final Thoughts

Stop by the Louisville Gal's Real Estate Blog for more great content and to read the full article.

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Today we are going to take a deep dive into how to build a profitable short-term rental business. If you want to learn how to buy the right property, in the right location, and how to niche down each property so that you deliver a premium experience every time, then this is the show for you. Getting 5-star reviews from your guests is easy once you know these tips, and it doesn't have to break the bank.

My guest today is Andresa Guidelli. Andresa was born and raised in Brazil. She is a developer, an asset manager with extensive experience in full gut renovation projects, new construction, and commercial development. She owns a rental portfolio, comprising both long and short-term rentals.

Andresa is also the co-founder and CEO of The Real Estate InvestHER® community, she is the co-host of the "The Real Estate InvestHER Show" and recently published InvestHER's first book which is an Amazon Bestseller, "The Only Woman in the Room - Knowledge and Inspiration from 20 Successful Real Estate Women Investors!"

Andresa is also the "go to person" when it comes to implementing processes that allow for scalability.

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"The more niche you are with your short-term rental the better it is. You want to make it an experience for the people". -Andresa Guidelli

Show Notes – Tips for Growing a Profitable Short-Term Rental Business

Here's a sample of what we discussed in this show:

• How a young woman from Brazil ends up being a successful real estate investor in the US
• The advantages and disadvantages of short-term rentals
• Deciding whether a property is right for a short-term rental, or a better fit for a long-term rental
• How to choose an area for your short-term rental that will be desirable
• What amenities are important to guests
• How can you deliver a premium experience without breaking the bank
• Profitability and ROI
• The price you will pay for not understanding insurance in your short-term rental business
• The special contract Andresa has her guests sign (it's non-negotiable)
• Why niching down will make you more money
• The book, "The Only Woman in the Room"

There is so much information in this show, you're going to want to take notes.

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" I am a hundred percent responsible for what happens to me, to my projects. If it goes right, it's on me. If it goes wrong, it's on me two. And the reason for that, because then the power is on me to change. When I blame somebody else about, Oh, this project did not go right because of my contractor, then it's on them to figure it out and do it better. When it's on me, I take responsibility for it. I am in control of where I'm taking my life, not just my business, but my life as a whole". -Andresa Guidelli

You can reach out to Andresa at The Real Estate InvestHER.com or on Instagram at The Real Estate InvestHER

Resources Mentioned in This Show

This is such an inspiring book for female investors.

The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors by Real Estate InvestHER Publishing

Be sure to stop by the Louisville Gal's Real Estate Blog for more great content.

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Today I'm going to explore exactly what content marketing is, and why it matters to your bottom line. And make no mistake, it matters. Getting leads in the door is all about doing a few things consistently and those are marketing and building brand awareness. Everyone is familiar with marketing. Today I want to help you understand how building brand awareness through content marketing actually puts dollars in your pocket for years to come. I know this is a concept that can be difficult for some real estate investors to wrap their brain around.

Remember, that you aren't really in the house business; you are in the marketing and problem-solving business.

Your Customers are Telling You What they Want

According to the Moz blog, more than 50% of consumers say that offering free content is an effective way to earn their business. What that tells us is that people expect industry leaders to create free content and other resources like checklists, eBook's, videos etc. that they can consume. What form your content is in, isn't really the main concern. However, video is a great entry point for most real estate investors.

Onsite Content VS Offsite Content

So, what's the difference?

Onsite content brings people back to your site. It's the backbone of your online presence. Onsite content also helps organic traffic find you.

Think of it this way: When a seller is up in the middle of the night desperately searching the web for a solution to their problem, you want them to find your content on your website so that they turn into a lead for your business.

Offsite content has a similar purpose, and that is to drive traffic back to your website. The difference is that with offsite content you are exposed to new audiences and you are using their platforms to accomplish this. Your goal is not only to get exposure to that audience, but you want an opportunity for a backlink to your website by offering some type of freebie.

Some ways you can do this is by being a guest on a podcast, writing an article, doing a training, or possibly speaking at your local REIA.

Here's My Best Tip

When it comes to content marketing, don't do it for your bottom line. Do it to strengthen your authority, your brand, and the trust people have in you. That is what will affect your bottom line over time. Your ability to be seen as the expert in your field by creating free content is something that is hard to put a price on.

Show Notes

Here are some of the reasons you must add content marketing to your marketing plan if your business is going to survive over time.

1. Content marketing builds your brand fast.
2. It builds trust, authority, and it educates people on how you are uniquely qualified to solve their problem.
3. Integrating content marketing into your overall marketing strategy builds confidence with sellers that you are an expert.
4. Sellers do more research today than ever before in choosing a real estate investor to work with. Once you understand HOW they choose, it makes you more likely to be the ONE they choose.
5. Content marketing attracts customers without you ever being "salesy".
6. When you put out quality content, this allows you to nurture potential customers and keep them in your world until they are ready to sell the property.
7. Engaging content brings quality traffic to your website organically without ever spnding a dime.
8. If you are investing virtually, it's easy to build a national presence through content marketing.
9. You can answer common questions or objections a potential motivated seller might have about working with you right there in your content.
10. It allows you to give niche advice that they may be searching for regarding their specific situation such as probates and estates.
11. Case studies and testimonials are types of content that are worth their weight in gold.
12. You can fill your workshops and mentoring programs.

Want More?

Check out this show if you missed it the first time around: "Content Marketing for Real Estate Investors".

Let Me Know…

What types of content are you currently creating in your business?

Be sure to stop by the Louisville Gal's Real Estate Blog for more great content.

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If you've ever wondered why your marketing isn't working in your real estate investing business, I have some insight for you today. First of all, I can tell you that you're not alone. I hear all this all the time. My first question is, what types of marketing are you doing on a regular basis?

The next question I ask has to do with their branding. When I ask investors about their branding, I always get the same surprised look. Then that person usually says something like, "I'll worry about branding when my marketing is on track".

I have to tell you, that's not how it works. Marketing and branding go hand in hand, and you need to be working on both things simultaneously. Think of it this way

Marketing is how you get leads. Branding is what makes them choose YOU.

Take a minute to think about that. You've just dropped a chunk of cash sending out direct mail campaigns that are pretty much getting you zero results. You might be wondering if there is something wrong with your phone service. After all, it's not ringing. Eventually, you have to face the fact that your marketing just isn't working, you're not getting any leads in the door. So, how do you fix that problem?

Show Notes

Here is some of what you'll find in this show that will help you figure out what the problem is:

• What are you doing on a consistent basis?
• Do you have a list of your 3 to 5 marketing strategies?
• Why you must have a written marketing plan.
• Are you targeting the right people with your lists?
• Which group of motivated sellers needs your help now?
• What are you not doing (that you should be doing)?
• What's the frequency of your direct mail marketing and/or your other marketing strategies?
• Content creation
• How your brand (or your lack of a brand strategy) affects your marketing
• Can you clearly define what makes you and your business different from your competition?
• Why you must become "memorable" so succeed.

Resources Mentioned in this show:

• Probate Investing Simplified
• Bonjoro
• Oncarrot done-for-you websites
• Your Branding Sucks: 5 Ways to Cure That Now

Be sure to stop by the Louisville Gal's Real Estate Blog for more great content.

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Have you ever wondered, "Why is it so hard to get leads on a regular basis"? That's a question a lot of investors are asking themselves. My question to you is, "What are you doing on a regular basis to generate leads, and do you have a written marketing plan that you implement on a consistent basis"? For a lot of you, that answer will be no. Today I want to talk about the 5-step process for how to write a real estate marketing plan that gets results.

I also want to do a little bit of a refresher course on marketing your real estate business as well as some direct mail basics.

Show Notes

Here is what we covered in this show:

• The 5-step process for how to write a real estate marketing plan
• Breaking down the steps one by one (and how to do that)
• The 4 components of a successful direct mail campaign
• What is included in each one of those steps
• Why outsourcing some of the tasks should be part of your plan even if it's a thing you do later
• The simple way I grew my business 300% in one year

I know that if you take the time to put together a written marketing plan for your business, and then implement that plan it will give you a roadmap for success.

Here Are the 5 Steps:

1. Decide on your strategies
2. Break each one of those strategies into steps
3. Create a budget
4. Schedule everything on a calendar
5. Start to think about what you can outsource

There you have it. How to create a real estate marketing plan that gets results in 5 easy steps.

What's Coming Up?

Be on the lookout for information about workshop coming up soon on how to create a steady stream of off-market deals with effective marketing and branding.

You know that I always say, "Marketing is how you get leads, branding is why they choose YOU".

Be sure to stop by the Louisville Gal's Real Estate Blog for more great content.

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Are you ready to get out of your own way so that you can transition from small business owner to the CEO of your real estate investing company? It's a process, I can tell you that.

My guest today is Andy McFarland. This is the 3rd time Andy has been on my show, and I couldn't be more excited for him to share how he has grown his business over the last 5or 6 years I have known him. He is the owner of Enlight Home Buyers, a residential real estate investment company that buys and sells more than 200 houses per year across Utah, New Mexico, and Indiana. Andy has been buying properties since 2003 and has been involved in over 1,700 real estate transactions. He lives in Utah with his wife and 4 children.

The first time Andy was on my show, he was doing about 100 deals a year. In the 2nd show, we focused on how to grow a team. In this show, the topic is how to transition from a small business owner to the CEO of your REI business. I will put the link to the previous shows below.

Show Notes

No matter what stage of business you're in, you will find actionable tips in this show to help you grow your business and transition from small business owner to the CEO of your company.

• How Andy grew his wholesaling business over time
• Branching out: adding flips, rentals, and syndication deals
• How Andy ended up with a big business (that wasn't necessarily his plan)
• Learning to let go in order to grow
• Finding out your team is actually better at some things than you are
• Becoming the visionary of your business: transitioning from small business owner to the CEO
• Andy's top two marketing strategies that bring him most of his deals
• How he does business in 3 states, and the one team member he must have to make it work
• Mindset: why this is all that's holding you back from everything you want

Andy's Previous Shows

Be sure to check out these are two great shows if you missed them the first time around.

• Adding Team Members to Your Rei Business with Andy McFarland
• How to Wholesale 100 Houses a Year with Andy McFarland

Books Mentioned in this Show

Rocket Fuel by Gino Wickman

Be sure to stop by the Louisville Gal's Real Estate Blog for more great content.

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