Let's Talk Real Estate Investing with Sharon Vornholt

I got a listener question this week and it was, "what do you do when the heirs can't agree on a sales price for the property in the estate"? That's a really good question, but I have to tell you that in reality, you get it less often than you might think. However, over time it will happen so it's good to know how to handle that situation. In this short episode, I will tell you how I handle those conversations and you can put your own spin on it.

Key Highlights:

[00:01 - 02:10] Opening Segment

• An overview of how to get the family to agree on a sales price for a property

[02:11 - 06:28] What Do You Do When the Heirs Can't Agree on a Sales Price?

• It is important to be realistic about what needs to be done to fix up the property

• Be prepared to discuss those costs with the family representative

• What's most important is to listen to the family's concerns

• Get the family involved in the discussion and know what they would do if they lived there

[06:29 - 07:48] Closing Segment

• You should go back to the facts and the costs

Key Quotes:

"Your goal is to get the family involved in the discussion and get them invested in seeing themselves in the property." - Sharon Vornholt

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today we are going to talk about how to fund real estate deals from a lender's perspective. My guest today, Beau Eckstein, does many types of loans. These include commercial lending, construction loans, business loans, hard money loans, and bridge loans. If you're wondering what the best way is to approach a lender to fund your project, that's one of the things we're going to talk about today. How to ask for funding the right way.

Key Highlights:

[00:01 - 07:10] Opening Segment

• Beau's background and work

• His experience with a variety of loans and starting to invest in larger commercial deals
• Operating a company that helps businesses grow

• How to approach a lender for money to fund your project

[07:11 - 14:30] Find the Best Debt for Your Real Estate Investment

• Why Beau prefers cheaper housing markets

• How Beau assesses where his customers are at with their real estate journey

• Figuring out what the best loan program is for them

[14:31 - 21:38] Non-bank Lenders Offer More Options for Real Estate Financing

• Ban lenders vs non-bank lenders

• There are many ways to finance a real estate purchase

• Find a lender that will allow subordinate financing and second mortgages

[21:39 - 28:33] Structuring Deals

• There are a variety of ways to structure deals

• Profit share agreements, non-recorded profit share agreements, and private money loans

• The key to success is being a good deal architect and knowing how to put deals together

• Why real estate professionals may experience a slowdown in transactions

[28:34 - 35:40] How to Become a 100%er

• Real estate investors should learn all the tax strategies available to them

• How investors can reduce taxes is to become

• Why you should own different types of real estate that have different tax rates

[35:41 - 42:42] Closing Segment

• You just have to be ultra consistent

Want to connect with Beau? Check out Beau Eckstein and visit Investor Financing!

Resources Mentioned:

Who Not How by Dan Sullivan and Dr. Benjamin Hardy

The Compound Effect by Darren Hardy

Get Different: Marketing That Can't Be Ignored by Mike Michalowicz

Key Quotes:

"There are a million ways to invest, and I feel that's where I bring the most value to show people easy ways to get financing." - Beau Eckstein

"Do not over leverage because if you can't make progress when you close escrow and get your first draw, you're gonna be behind the whole time." - Beau Eckstein

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

My guest today is Caleb Davis. He is a partner in the real estate company, Three doors. Caleb has built a multi-million-dollar rental portfolio which has allowed him to become financially free at the age of 30 through real estate investing. He has also built a 40-million-dollar agent team in just 3 years. His story is quite amazing. Listen in to learn more about his journey to success!

Key Highlights:

[00:01 - 06:31] Opening Segment

• Caleb shares his background and work

• How he became financially free at 30
• How he got into the real estate investing world

[06:32 - 13:00] Financially Free at 30

• Deciding to stop flipping houses and focus on buying rentals instead

• Why Caleb decided to join Three Doors

• Meeting Jim and Ryan
• Building a multi-million-dollar rental portfolio

[13:01 - 19:21] How to Become a Skilled Real Estate Investor

• Caleb's journey building a 40 million agent team in three years

• Focusing on lead generation and keeping agents in the 80 20 role

• The importance of hiring talented people early on and setting high expectations for his agents

[19:22 - 26:04] Closing Segment

• Why competitiveness is important to Caleb

• How Caleb has a system for managing directors and training his sales staff

Want to connect with Caleb? Follow him on Instagram, or send him an email at [email protected].

Key Quotes:

"One of the top three things that made me successful was the first people I hired." - Caleb Davis

"Being able to adapt is what keeps me happy and makes me fulfilled." - Caleb Davis

"Keeping people in their genius zone of where they're talented is definitely important because if they don't like their job, they're not gonna stay. There's no way." - Caleb Davis

WANT TO LEARN MORE?

Connect with me through my website, Instagram, and LinkedIn.

Or you can send me an email at [email protected].

Be sure to check out my website the Louisville Gal's Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Part-time investors often long for the freedom full-time investors have. They want to know how you quit your day job to become a full-time real estate investor. What are the steps to successfully making this transition? My guest today is Billy Keels who lives in Barcelona, Spain. Billy has lived in Europe for many years however he invests right here in the US where he grew up. Billy had a great high-paying career that he liked, but it came at a cost of his freedom. Freedom over his time. He wanted control over his time. Today he is going to talk about how he strategically made the transition from his demanding career to full-time real estate investing. Listen and enjoy!

Key Highlights:

[00:01 - 07:10] Opening Segment

• Billy's background and story

• Why he decided to become a full-time real estate investor
• Long-distance investing

• How Billy has achieved his goal of leaving his high-paying job to do real estate full time

[07:11 - 14:00] Going Into Real Estate Full Time

• Why real estate is a great way to build wealth and provide financial security for your family

• Billy's experience in convincing his wife to invest in real estate full time

• Be transparent with your goals, learn how to talk about money, and be clear on your why

[14:01 - 20:26] From Corporate Work to Real Estate

• Scarcity creates value

• Why you should invest in passive real estate projects

• Generate more income by operating multiple passive streams of income

• What can lead you to increase financial security and retire early

[20:27 - 27:09] How to Successfully Invest in Real Estate without Breaking the Bank

• The biggest key to success in real estate is taking calculated risks and investing with other people

• Have a clear vision for your life and what you want to achieve

• Find the right real estate investment opportunity to help you get there

• Make sure you build a team of people who you trust and can help hold you accountable

[27:10 - 33:33] It's Not About How Much Money You Make

• How to do a deep dive on location before investing in a foreign country

• Make sure it is the right fit for your business
• Reach out to people you know and network with online

• The next thing to do once you have a good understanding of the location and the market

• Put your money where your mouth is and invest in property there

[33:34 - 40:56] Closing Segment

• Be clear on what outcomes you're looking to achieve when you leave your job

• Be clear on your revenue model and how much money you'll need to generate to support your new lifestyle

• Figure out how to keep more of your capital while generating consistent returns

Be sure to check out Billy's previous show, Tips for Buying and Managing Long Distance Rental Property

Want to connect with Billy? Follow him on LinkedIn, Instagram, and Twitter.

Visit KeePon Cashflow,Facebook & YouTube.

Resources Mentioned:

Sharon's episode #107 on the Going Long Podcast

Going Long Podcast

Pay Less Tax

Key Quotes:

"It's not money for money's sake, but it's for the experiences that money can provide." - Billy Keels

"You need to rehearse the outcome. If you have not rehearsed the outcome and something happens outside of what you rehearsed, but you've never rehearsed. Then the anxiety levels are gonna increase." - Billy Keels

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today, I want to talk about probates and exactly how to talk to motivated sellers with confidence. Real estate investors think this is tricky. However, with these tips, you'll find out it's actually pretty easy. At the end of the day, it's just a conversation. Let's dig into it!

Key Highlights:

[00:01 - 04:23] Opening Segment

• How to have comfortable conversations with probate clients

• Be casual and friendly during the conversation

• Always use clients' names when talking to them

• Do your homework before you visit the property

[04:24 - 08:45] How to have a successful conversation with a seller

• Be prepared for conversations with sellers and be familiar with the property

• Look for visual clues in the property to start conversations

• Let sellers talk about their loved ones and the history of the property

[08:46 - 09:46] Closing Segment

• When looking at a property, always thank the seller for their time and effort

• Stand out from other investors and increase your chances of getting the deal

Key Quotes:

"Do your homework before you get to the property, show up, knowing what you need to know." - Sharon Vornholt

"After looking at the property whether or not you got the deal, send a handwritten thank you."- Sharon Vornholt

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

So many investors find it hard to talk to motivated sellers and make offers confidently. But let's face it; real estate investors have to know how to do this to grow a successful business. For many people, it's just practice. It's simply making (low-ball) offers over time that makes the difference. In today's show, you're going to get some actionable, rock-solid tips that will make this process a whole lot easier so let's dive in.

Laura has been a full-time real estate investor since 2014. Prior to that, she was an active-duty soldier in the US Army who then worked for the Department of Defense as a civilian employee. Since getting started in 2014, Laura has focused on wholesaling off-market properties. She has also completed a full rehab on a single-family property, holds a small rental portfolio, and has done a few wholetail flips. This year Laura has also been focused on expanding her rental portfolio with multi-family units of 8 or more doors and is getting ready to close on an 11-unit building with seller financing next week.

Key Highlights:[00:01 - 07:29] Opening Segment

• Laura's background and work

• An overview of how to talk to motivated sellers

• How Laura got into real estate investing

[07:30 - 14:40] How to Wholesale Like a Pro

• How Laura bought a house from another local investor and rehabbed it herself

• Why Laura changed her mindset after talking to a successful investor

• People should listen to motivated sellers and spend time with them to build rapport

[14:41 - 21:41] How to Get Deals When You Don't Need Them

• Not every phone call or every person that calls you is gonna be a fit, so you have to be ready

• The key to successful follow-up is establishing rapport and not being judgmental

• Sellers often bring unrealistic expectations to the conversation, which can lead to deals not being possible

[21:42 - 29:04] Tips for Negotiating with Sellers

• Have conversations with sellers in a way that makes them feel heard and understood

• Use licensed contractors because they are inspected and have the same quality standards as licensed professionals

• Create a positive relationship with sellers

• Send a thank you note and bond journal after negotiations are complete

[29:05 - 35:54] How to Succeed with a Coach

• Why getting a coach can help you grow in your business

• Coaching is an investment that will pay off, and you need to be coachable to get the most out of it

• You should get a coach for things like money deals, personal development, and growth

[35:55 - 37:08] Closing Segment

Want to connect with Laura? Follow her on Facebook. Make sure to visit Grant HickMan Real Estate Advisors, and discover real estate options to sell your house!

Key Highlights:

"You know you're going into a growth phase when you're leaving your comfort zone." - Laura Lenington

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today's show is one you just don't want to miss. You're going to learn tips for building a rockstar real estate team like his that does hundreds of deals each year. My guest is Jim Manning of Three Doors. Jim has built one of the top 100 real estate teams in the country. Their business is a hybrid model with three doors or 3 different opportunities to work with them. Listen in to see how you can implement this in your business. Let's dive in!

Key Highlights:

[00:00 - 07:31] Opening Segment

• Jim shares his background and work

• The founder of Three Doors
• Check out Doors to Deals

• How Jim's team helps grow his business

[07:32 - 22:32] Doors to Opportunity

• Three strategies that an agent or investor can use when buying a house

• How to build an acquisitions team that succeeds

• The key to attracting and keeping successful acquisitions and salespeople

• Why a personality assessment is useful

[22:34 - 29:56] How to Generate Motivated Seller Leads

• Jim shares an experience of a business partner that has been successful in real estate

• Having a high level of talent
• Structuring a deal where he didn't pay anything upfront

[29:57 - 37:27] How to Network and Generate Leads Like a Pro

• Networking is the number one way to generate leads and build relationships with agents and investors

• Why networking is the most underrated form of marketing on the planet

• The right thing to do if you want to grow your business

[37:28 - 38:10] Closing Segment

• Tips for finding deals

Want to connect with Jim? Follow him on Facebook. Visit Three Doors, if you're ready to buy, sell, and invest in real estate!

Key Quotes:

"You want to be a laser. You don't want to be the sun." - Jim Manning

"Networking is one of my favorite ways to generate leads, and build brand awareness, which turns into leads down the road." - Sharon Vornholt

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

My guest today is my friend and the founder of Carrot, Trevor Mauch. I'm excited to talk about how real estate investors can effectively generate leads online. Leads that come through your motivated seller website are generally higher quality leads than those that you generate with direct mail marketing and other outbound marketing strategies, and it's important to learn how SEO, digital marketing, and content marketing work hand in hand. You will hear some pretty impressive statistics about that in this show. Listen and enjoy!

Trevor is passionate about entrepreneurship and leads the Carrot team and focuses on helping members get the result they want. We did a number of entrepreneurial shows for my podcast a few years ago and I will put a link to each one of those shows in the show notes below. There is pure gold in those shows.

Key Highlights:

[00:01 - 07:15] Opening Segment

• Trevor shares his background and work

• How he became an entrepreneur

• Check out our previous entrepreneurial shows - Links below

[07:16 - 14:08] How to Stand Out in a Competitive Market

• Why Trevor decided to found Carrot

• The importance of good positioning, and how it can help a business stand out from the competition.

• How online marketing can be used to build a business's reputation and authority

[14:09 - 21:02] Generate Leads Online

• SEO is important to help clients get leads through Google searches

• Improve your branding to make people feel confident in choosing you over the competition

• Trevor discloses why Google paper leads are the best quality and result in the highest profits

[21:03 - 27:40] SEO Tips to Help Your Business Win More Deals

• The importance of brand search and how it helps to build credibility and trust

• SEO should focus on location pages to help buyers find the right house in the right city

[27:41 - 34:24] Content is Key to Building Authority and Ranking High in Google

• You need to focus on content, conversion, and location to build authority

• Figure out who your market is and what service you can offer them

• What steps you should follow once you have a few hundred thousand dollars in revenue

[34:25 - 37:13] Closing Segment

• You should be delegating basic tasks to other people to focus on more important things

• Bring in leaders to take over and step into the functions when things get hard

Want to connect with Trevor? Head to Carrot, the only website that works as hard as you!

Resources Mentioned:

The Entrepreneurial Mindset with Trevor Mauch – Podcast Episode #43

Trevor Mauch – Why Productivity Hacks Don't Work – Podcast Episode #46

Trevor Mauch – The Big Goal Trap – Podcast Episode #47

Secrets to Hiring A List Team Members with Trevor Mauch – Podcast Episode #50

How to Get Paid What You're Really Worth with Trevor Mauch – Podcast #58

Creating a Co-working Space with Trevor Mauch – Podcast #62

How Your Bootstrapped Company Can Hire (and Pay) Employees With Trevor Mauch – Podcast #64

Key Quotes:

"When we do really good marketing, we actually are solving problems with that marketing." - Trevor Mauch

"Marketing is how you get leads, but branding is why they choose you." - Sharon Vornholt

"We want to make sure that you're ranking really high with your own website, with testimonials, credibility, and a good about page because that is going to help people build trust and credibility." - Trevor Mauch

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

In the last show, I talked about how to find off-market properties using direct mail marketing. After that show, folks wanted to know, "How do you automate this process so that it's easier to manage"?

That's a great question and that's what I'm going over today. 5 ways to automate your direct mail marketing and increase your response rates. Let's dive in!

Key Highlights:

[00:01 - 04:24] Opening Segment

• How to manage a direct mail process when you're busy

• The importance of a written process for getting direct mail out every month

• Having a written process will help you stay organized and make sure your mailings are sent on time

[04:25 - 08:37] Increase Your Direct Mail Response Rates with Automation

• Having a standard operating procedure for how you will do your marketing is key

• You need a marketing calendar to help plan when and how to send your direct mail

• You should outsource your marketing to a reputable mail house

• What you can do to make marketing easier

[08:38 - 12:47] Closing Segment

• How to set up a marketing system that can be automated, including instructions on how to order direct mail and track results

• Use a company with a CRM that can be used to manage leads and track results

Resources Mentioned:

• Open Letter Marketing: https://bit.ly/OpenLetterMktg

• Invelo: https://bit.ly/invelosv

• How to Find Off-Market Properties Using Direct Mail Marketing:

https://louisvillegalsrealestateblog.com/find-off-market-properties-using-direct-mail/

Key Quotes:

"Use a company that has the capability to grow with you think big, think down the line and think of making your life easier because at the end of the day, your marketing is what makes you money." - Sharon Vornholt

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!

Today's show is on how to find off-market properties using direct mail marketing. By focusing on off-market deals, you will get properties other investors miss out on. I have been using direct mail marketing for off-market deals for more than 20 years now. Hands down, it has always been my best source of leads. The secret sauce is creating an exceptional experience for sellers each and every time. If you want to know how you can create that experience for sellers check out "How to Scoop up Off Market Deals by Creating a Memorable Experience with Sellers".

Key Highlights:

[00:01 - 04:28] Opening Segment

• How to find off-market properties with direct mail marketing

• Why off-market and probate deals are one of the most profitable

• Focus on off-market deals, so you can get properties that other investors miss out

[04:29 - 13:43] How to Find Off-Market Properties

• Why direct mail marketing is a great way to reach out to potential investors and build rapport

• Make sure your message has to be on target with the person you're mailing

• When it comes to mailings, you should be frequent and consistent

• If you can't help someone, be honest and let them know that you're not the best option for them

[13:44 - 16:50] Closing Segment

• Direct mail marketing is an effective way to reach out to potential customers, but it's important to be diligent in returning calls and emails.

• Provide exceptional customer service to create a memorable experience

If you want to learn more about how to generate an endless stream of motivated seller leads for your business with probates, check out my course, Probate Investing Simplified

Key Quotes:

"The secret sauce to success with direct mail marketing campaigns and off-market deals is to provide exceptional customer service and to always do what you say you're going to do in an honest and ethical way." - Sharon Vornholt

"Focusing on off-market deals will get you other properties other investors won't get." - Sharon Vornholt

Connect with me through my website, Instagram, and LinkedIn

Or you can send me an email at [email protected]

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

Learn more about this podcast on iTunes, or Stitcher.

If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!