Burton Alicando joins Brian on the show today to talk all things data. PropStream is a data aggregator that allows investors to easily see the information and details on a property. Burton is on the show today to share a demonstration of how the service works, and talk about what sets them apart from their competitors.

Key Takeaways:

[1:00] PropStream is a nation-wide data aggregator that allows you to see the records right then and there. It helps investors analyze a property they may already have on contract, or find a lead. Burton talks about the difference between PropStream and some of their competitors. The functionality of their system allows research to help build lists and get details on current properties.

[6:15] Part of their aggregated data includes MLS data from about 700 MLS boards nationwide. They partner with brokers to get this data, which is important for running comps, seeing if there have been price adjustments, days on the market, photos, and some additional information that public records don't always provide.

[8:37] Brian and Burton talk about the lawsuit between Zillow and the National Association of REALTORS®, and the background behind it. PropStream is more of a portal for investors, as opposed to the atmosphere of other public domains.

[13:30] Burton walks through a demonstration of PropStream (follow link for YouTube version) — you can search anywhere in the States, and when you search a market, you can look through all the data they've collected for a property. As an investor, this data can help you make buying decisions.

[17:45] After you find properties you can research, you can run comparables from public records or MLS comps. They include filters so you can then compare apples to apples, see photos, and essentially the information that agents have access to.

[21:55] Burton demonstrates how to use the filters to create your own list based on what criteria you decide. As you build your list, your properties show up so you can then click on the property and research it.

[25:42] We live in an age today where a lead is no longer a list, a lead is really a predicament that a homeowner is facing. Investors get paid to find problems and provide owners with a solution.

[28:35] PropStream is an incredible resource for investors. For the first time ever, they are about to launch a list automator, so if any property no meets criteria it will automatically drop off. You can also import any list from any other provider and they will update with the data they have.

[32:50] If you've been investing for a while, give this free trial a chance! It could change the way you find leads.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

PropStream

Free Trial

Today's guest is an expert in direct mail. Ryan Dixon from REI Print Mail is on the show today to share the secrets of direct mail as a marketing technique. Ryan talks about direct mail compared to some of the other marketing strategies, some of the unique products they offer at REI Print Mail that set them apart, and some best practices for using direct mail to get the most return for your money.

Key Takeaways:

[1:05] Brian and Ryan discuss whether direct mail is dead, in light of things like mass texts, RVM, and cold calling. Ryan talks about the idea of silos of marketing techniques, and how once one fills up, people move to another marketing technique.

[3:10] Brian and Ryan talk about the pricing of direct mail, versus the pricing of other marketing techniques. When you consider response rate and the fact that people can hold onto a mailer and follow up later, the cost per lead is generally pretty good.

[4:55] REI Print Mail has been around for 27 years, and their unique products and experienced coaches have allowed them to lead the industry for the last 15 years. The best practices of uniqueness, quantity, and consistency get them great results.

[6:50] Ryan talks about some of the unique products they've invented and have available for their clients, including the street-view mailer and AccuText, which will eventually be tracked in the REI Print Mail software.

[10:55] Another recent invention is the sky-view image that will provide an aerial view of the neighborhood or area surrounding the house that can be included in the mailings.

[11:50] Ryan talks through the process of what direct mail coaching looks like for people who come to them for help. They consider how many deals you want to get in a given time frame, your budget, who will be following up, etc.

[13:30] Brian talks about his own experience with direct mail and some of the obstacles and challenges he encountered without the help of a coach. Ryan shares some tips on the most successful lists and where to get them.

[17:20] Ryan and Brian talk about the most effective types of direct mail. This really depends on the area you're in; you want to send something that will stand out. In a highly saturated area, you might want a larger postcard. Occasional letters are also beneficial.

[20:00] They also talk about what type of verbiage is most effective. "Fair offer" is a successful phrase right now, but the most important thing to remember is to get your point across in very few words. Keep the design simple as well.

[21:27] Once you're ready to get started, you can log into the website and create your login or you can reach out to Ryan directly. The initial session is important to set the trajectory of your direct mail. Set a meeting with one of the coaches and start there, that's the best way.

[22:56] Ryan talks about how the pricing breakdowns — they also have a pricing tool on the website you can use. You can use the coupon code "reilive" for 10% off of everything, including printing and any of the services.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

REI Print Mail

Gc Power Mail

Ryan's cell: 314-458-6041

Chris Arnold is currently based out of Tulum, Mexico. He joins Brian on the show today to talk about an uncommon marketing strategy: the radio. In today's episode, Chris talks about the best ways to advertise on the radio, the lessons he's learned over the past nine years, and how radio advertising can help boost the quality of your lead generation.

Key Takeaways:

[1:00] Chris lives full time in Tulum, Mexico. When his business closed their brick and mortar business, he and his wife moved to Mexico and work completely virtually. Chris is the visionary of his wholesaling business that's based out of DFW.

[3:25] Radio advertising has helped them expand to all of North Texas, and they scaled from a boutique brokerage into the wholesale side, so they could maintain lifestyle. Chris started radio advertising nine years ago. It's a dependable marketing channel because it's not list-dependent.

[6:15] Chris shares the key points to being great on the radio. The first is pricing — you make all of the money on the purchase. They are able to negotiate 60-second spots on the radio down to $10–$15/slot. The second key is determining the ideal frequency and play time.

[8:40] To negotiate, they have a formula that you can follow that will show you what you should be paying for a station based on its size. Being armed with this knowledge can help you guide the negotiation.

[10:25] Chris breaks down their radio budget and shares their dollar-for-dollar return. An ideal return would be about 1:3 or 1:4 return. For someone just getting started radio, a budget of about $1,000–$2,000 per month is enough to get you started. Radio can be inexpensive but also very scalable.

[12:30] For people looking to get started, their ads run 100 times per month across their stations, so people hear their ads 700 times per month. Primetime is the best time to place the ads.

[14:45] The primary demographic of most wholesaling deals is people over 50. While we are living in a digital world, the demographic you want to cater to is likely still listening to the radio and watching TV.

[15:45] Chris shares some of his ups and downs with radio, particularly working with endorsements. You want to get the right people to read your ads; they've seen the best success when they record the ads themselves.

[16:50] Chris shares some of the lessons he's learned over the past nine years in radio. Radio is low call volume with high quality, so it's important to catch the calls live. This is one of the highest quality leads they've been able to generate.

[19:43] The REI Radio course is part of Wholesaling, Inc. now. He was able to network with Tom Kroll and his crew through his Mastermind and is now a coach with the Wholesaling, Inc. family. This opportunity has allowed Chris to share something new with the national market — not just in Dallas – and help other people become successful.

[23:00] Chris is one of the founders of the Multipliers mastermind. This was intended to be a comprehensive approach to impact the lives of the top real estate guys in the country. People change people the most, and this mastermind has created a community of some of the best guys around the country. It's more like a brotherhood.

[25:05] Real estate is a vehicle that people can use to create freedom of time, freedom of resources, and freedom of location that ultimately leads to a higher impact. Chris talks about the transition from success to significance, and how that drives fulfillment throughout the course of our lives.

[28:09] For more information on REI radio, visit wholesalinginc.com/reiradio. From here you can book a call to ask questions to see if radio is a fit for you. If you're hungry for something new, check it out!

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Interview with Scott Orbon

REI Radio

Halftime: Moving from Success to Significance, by Bob Buford

Two guests join the show today to introduce themselves to the REI Live Community. Josh and Marlena Dates are launching monthly meetings in Orlando, FL. They join Brian on the show today to talk about their background, how they found success in real estate, and what their future plans are.

Key Takeaways:

[:55] Both Josh and Marlena come from teaching backgrounds, and real estate investing allowed them the flexibility they wanted for their family. In 2015, they started focusing on wholesaling and now they are teaching others how to do what they do.

[2:55] Before they transitioned into wholesaling, they were doing primarily creative deals. At the end of the day, wholesaling is consistent enough that they can really depend on that income. The shift in focus allowed them to generate more cash.

[5:10] In 2020, they have a three-person team, including themselves. They are able to generate so much business between the two of them from home while they homeschool their kids.

[6:10] Josh talks about some of the opportunities real estate has provided them, including being able to scale their business and start doing deals virtually. They are still building passive income through the other creative opportunities.

[7:05] Josh and Marlena are joining the REI live community in Orlando, FL, and will be hosting and teaching regular meetups to connect more people, as well as individual coaching opportunities.

[8:00] Their first event is January 16th at the community center in Winterpark. If you're in the market — come on out!

[8:40] Brian talks about the advantages of having a local coach in your market that you can rely on for coaching and mentoring.

[10:04] Do not miss this opportunity for free networking! There will be special guests with huge wholesale volume and a wealth of free content on the horizon.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Register for Event

In today's episode, Jesse joins Brian to talk about skip tracing company Batch Skip Tracing and what sets them apart from other services. They discuss how people can use the data Batch Skip Tracing provides, and possible marketing strategies for this data. They discuss what types of things you should look for in a skip tracing service, as well as some of the trends for different kinds of marketing.

Key Takeaways:

[1:20] Jesse explains what skip tracing is, and how it works to produce phone numbers based on a list. From there, you can do a cold call, send a text, or leave a voicemail.

[3:08] Jesse talks about the evolution of skip tracing, from skip tracing for addresses to skip tracing for numbers. He talks about the functionality of some apps out there, and how this affects the efficiency of real estate.

[3:55] In addition to the skip tracing, Jesse is also an active wholesaler. He talks about how he made the switch over to the data side.

[6:30] Jesse talks about what separates BST from other skip tracing services. They pull from four different data sources and aggregate it.

[8:08] Jesse and Brian discuss the most efficient ways to use the data they produce with skip tracing. You can use their data for digital marketing, but it's primarily used for calls, voicemails, and texts.

[8:52] To apply the data to the business, they then use a marketing calendar to distribute calls, texts, and voicemails over several weeks. They determine the follow-up strategy depending on the motivation they think a seller has. The campaign will then depend on the marketing strategy.

[10:05] They are working on creating an all-in-one service so that after you get your list from skip tracing, you can use their service for texting, automated voicemail, and a dialer.

[11:05] It seems to be the trend for people to be moving towards this type of marketing. Texting is good because even if people don't respond, they generally will look at the message. Cold calling is getting harder because more numbers are being spammed and less likely to be answered. When one type of marketing falls out of popularity, it's a good time to pick it up because the competition decreases.

[12:30] Jesse talks about what's next for some of these channels in finding motivated sellers. Texting will likely be around for a while, and building your digital marketing presence is important.

[13:55] To get started with Batch Skip Tracing, you can just visit their website to upload your list, and the turnaround time should be the same day.

[14:30] Jesse talks about some good places to get your lists. One of the best places to get your lists is your local county's office and finding lists specific to your county. If you can get a list that other people aren't willing to get, you'll have less competition with that list.

[16:05] You pay for what you get — if you're using a skip tracing service, make sure you know where they are sourcing their data. You want to make sure you have the right data before you get started on calling.

[17:23] Jesse talks about a few things that are on the horizon for BST, as well as what's on the horizon for his wholesaling business as well.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Batch Skip Tracing

CallTools

Mojo

Zen Desk

Deanna joins Brian on the show today to share all things 'seminars.' Deanna talks about her own experience in the seminar space and some of the trends she's noticed over the past few years. They talk about the negative connotation of seminars, and what people can look for to ensure they are going to get a good experience and gain knowledge in a seminar setting.

Key Takeaways:

[1:15] Deanna shares her involvement in the seminar industries. She's been in the industry since about 2006 and quickly funneled herself into the entrepreneur space. In this industry, she's worked with quite a few different people.

[4:20] The word "seminar" carries a bit of a negative connotation because of some of the legal aspects involved in what's being said versus what's being delivered. There have been a few names in the industry that have given seminars a bad reputation, despite the personal growth and community that can come out of this space.

[6:27] There can be elements that come off as a scam in this industry, depending on the company or individual. It's important to make sure the people that you coach or sell into your product really understand what they are getting themselves into.

[10:15] Another common complaint is the amount of money seminars can charge you. Deanna shares her thoughts on pricing. Depending on the seminar, the price points are justified because of the knowledge shared and time spent making you an expert.

[12:26] People in the seminar world are subject matter experts, and the money spent is generally worth the knowledge you will gain working with an expert.

[13:45] With all the free content out there these days, the seminar market has shifted from a "big box" mentality to a more regional, localized culture mentor, where coaches are doing things where they work and live. When you have a coach/mentor who lives in your market, there tends to be a more successful application.

[16:40] The format of a typical seminar usually starts with a free pitch to get you to purchase the full coaching package. It's important to find ones that are honest and transparent; watch out for ones that advertise quick and easy, turn a fast buck, expert in three days — so you know what you're buying into.

[20:00] Deanna recommends more of a regional, localized versus the big box seminars. Take into consideration whether what they are advertising seems realistic.

[21:45] There is a lot to be said for accountability. When someone is standing in front of you in their own market, accountability greatly increases. Look for people who are already doing what they do well where they live.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Real estate and businessman Patrick Precourt joins Brian on the show today to talk about the powerful mindset behind creating habits in our businesses and daily lives. While Patrick is a real estate investor, he also runs a business that focuses on helping people make change. In today's episode, he talks about how we can start making decisions that will form into habits, and truly start the business of success.

Key Takeaways:

[1:05] Patrick is a husband and father and got involved in real estate back in the '90s. He started off with an accidental lease option and their business has moved into short sales. Today they specialize in high-risk, high-reward properties and also assisted living.

[3:20] In addition to real estate, he also owns a martial arts/lifestyle fitness center, that focuses on helping people create change.

[4:55] Change is one of our flaws as humans. Personal development isn't always about the quality of education; it's about what gets people to do what they need to do with that education as a catalyst for change.

[6:45] Consistent, predictable results come from the psychological aspect of education and real estate investing (or learning any new task). Context is what we do with the information, and the information itself is the content.

[10:05] We are creatures of habit, and tend to make a majority of our decisions out of habit. When we set a new goal, the process needs to start with who you have to become in order to get what you want.

[13:10] Patrick and Brian discuss the idea of our feelings affecting our actions, and how a triggered emotion can lead to decision-action-result.

[15:55] How do we go from awareness to action? Patrick breaks down two of four steps: 1. Figure out who you have to become. 2. Attach meaning to what you're trying to achieve.

[24:15] We have to change our habits in order to change our results. When something becomes a habit, it goes into our subconscious; oftentimes, once we learn something we lose focus before it becomes a habit. Once something becomes a habit, that's when we start the process of success.

[29:35] Patrick breaks down the remaining two steps to bridging awareness and action: 3. Stop letting how we feel determine what we do. 4. Re-establish belief in yourself and your abilities to execute.

[33:25] Multiple times a day, we set small goals for ourselves to accomplish tasks throughout the day. Don't set goals (large or small), that you aren't 100% committed to.

[36:25] Brian and Patrick talk about the different contexts of these "micro-goals." They all strive to re-establish trust in ourselves.

[39:05] Accountability is huge in this process. Accountability kicks in when our inner drive runs low; it's a necessity until our behavior becomes a habit.

[41:00] Though this episode has focused primarily on health and wellness, these same ideas apply for people in real estate investing. Patrick has some final advice: Get clear on what it is you're actually doing — the outcome of that will help you hone in on your purpose. If you start making good decisions today, it will be easier to make them tomorrow.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Find Patrick:

Patrick's Website

Brian Trippe

Your host Brian Trippe counts down the TOP FIVE books he read in 2019. Out of 33 read books this year, a personal record, Brian picks out the books that had the biggest impact on his life.

David Lecko

Today's guest is David Lecko, founder of the DealMachine. At just a few years old, DealMachine has already reached 9,000 subscribers and 80,000 downloads. This app provides a simple way to maximize your efforts driving for dollars to get a high ROI list. In today's episode, David and Brian talk about how the app works, how it is beneficial for investors, and what they're doing at DealMachine to continue to innovate.

Key Takeaways:

[1:15] The Deal Machine app is a simple way to scale driving for dollars and get a high ROI lead list. From your car, you can take a photo of the house, and then it will fill in the information, and automatically send a mailer to the owner.

[3:05] David developed the app out of necessity while he was getting into real estate. He was driving for dollars himself when he was first looking for a rental, but never made the time to follow up and get mail pieces sent out.

[5:10] David breaks down the app itself. It is like a CRM in that it will re-send the mail on a schedule you set. It's just for houses that you input while you're driving for dollars, however. It is compatible with many other CRM's investors may be using.

[7:20] David shares some stories from users of how DealMachine is best used. He suggests that the best way to use the app is to have several people drive for you. There are several features in the app to help monitor and track these drivers.

[9:35] From listening to users, they've been able to implement some other different features. One of the most recent developments is bulk-adding houses you're already mailing so your drivers don't add them. They are also going to upload vacant lists.

[13:15] David talks about the things they are doing to innovate and continue to improve their product. They are focusing on going deep into the driving aspect of lead generation, as opposed to other companies that may be adding it as a module to whatever they already do.

[14:05] Listening to user feedback is the greatest way they release features for the app. Customer service is a huge part of their business model, and they continue to improve the app based on what the users want.

[14:45] Having big names support them and partner with them has allowed for their growth. These relationships were based on a genuine human connection first, rather than anything business.

[17:00] If you want to try DealMachine, there is a 14-day trial that includes some free postcards. You can use the promo code REILIVE to get $40 of free mail. Visit the website linked below to sign up and apply the promo code.

[18:45] David shares the one thing you need to know about DealMachine: You have to add at least 200 properties and contact them (postcards or calls) at least three times each. To get the best bang for your buck, you need to use it enough to know if it works! These numbers are pretty low compared to other stats that have been discussed on the show.

[21:15] The driving for dollars list is the best list you can have because you are the only one who will have it. It takes a little bit of extra work but gives you an incredible advantage that most other people won't do.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

DealMachine

Today's guest is the lease option king, John Jackson. With previous experience in stock options, when he got into real estate he chose to pursue the creative avenue of lease options. In this episode, he talks about three different types of lease options and the benefits for investors in all three. Brian and John also talks about some of the legal implications of these types of lease options, and the best way to navigate this type of investing.

Key Takeaways:

[2:15] John does lease options mainly in Texas, but all over the U.S., as well. He started a company, Leasing to Buy, in 2003. One of the most important things for him entering the real estate market was finding his niche, and recognizing that all markets are cyclical.

[4:45] His company takes the essence of lease option and puts the pieces into place so that it's a win-win for everyone.

[5:23] John talks about the best time to do a lease option. The absolute best time for lease options is when the market is pulling back. As the market softens up, properties that are slightly above the median price range feel the pain first.

[8:30] John shares some specific examples of the price range of houses versus days on the market. The higher price range houses tend to stay on the market longer.

[10:05] John and Brian talk about the different types of lease options — straight-lease option, sandwich lease option, and wholesale lease option. The straight-lease option is when you own a property and instead of renting it out, you do a lease option and you tend to get an option fee (4-5% of the price of the house), slightly higher than market rent, and the tenants tend to take much better care of the property.

[11:40] The sandwich lease option is when you as the investor stay in the middle. The investor negotiates the option price and monthly payment with the seller, and then you market it as a lease option to another buyer. In this scenario, you get an option fee from the buyer, cash flow each month, and then the equity when the property is bought out.

[13:25] At Leasing to Buy they specialize in the wholesale lease option or lease option assignments. In a lease option assignment, you work with a property owner to give them full price, and then you market the contract to a new buyer. As an investor, you could get an assignment fee in this scenario. These are good for new investors because you aren't making any payments on the house yourself.

[18:20] Most people are familiar with the sandwich lease option, but the straight lease option is more for someone who might want to hang on to a property long-term. John breaks down a lease-option scenario on a $200K house, and what kind of return would be in it for the investor. This option is good for newer investors as well.

[20:45] Brian and John talked about different ways you can use a lease option as an investor. You can do things like Airbnb, student housing, or assisted living without buying the property, but controlling it through lease option.

[23:45] John talks about the difference between a lease option and a subject to or a seller finance deal. It depends on the seller who currently owns the property and how badly they need to sell. As a buyer, it's typically more advantageous for the lease option because you can secure the property for a lot less money.

[29:05] There's been a lot in the news about the sandwich lease option, about the legality of people moving through tenants quickly in a lease option. John talks about different ways investors can safeguard against getting into trouble by running a reputable and ethical business.

[31:25] No matter what state you're practicing in, one of the best things you can do for real estate is to read and understand the law yourself. In Texas, you actually can't do a sandwich lease option.

[35:30] Instead of the sandwich lease options, there are a couple of other options. You can acquire the property subject to, and then lease option it, or you can do one of the other lease option types and rent it out. Make sure you find a competent real estate attorney in your state to make sure you know what your legal options are.

[38:15] John talks about different qualifications for a real estate attorney. It's important to make sure they really do specialize in real estate, and it is favorable if they do litigation. You may also ask which type of real estate investing they specialize in (residential versus commercial). Ask for references!

[42:50] One of the best things you can do to protect everyone in a sandwich lease option is to cloud the title so someone can't steal the property out from underneath you or the end buyer. You can also use a servicing company for the payments. Approach these properties as if you are the end buyer, and do everything you can do to protect the end buyer.

[44:15] To get in touch with John, visit leaseoptionclasses.com or his Facebook page.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Lease Option Classes

Lease Option Classes on Facebook

Leasing to Buy

Wholesaling Lease Options with Joe McCall