The Art & Science of Real Estate Negotiation

Tom welcomes to the show, a dynamic couple who transitioned from corporate jobs to being successful real estate investors. They share their journey, starting with the emotional and logistical challenges they faced when Laurie's father passed away, leading them to clean out and sell his house. This experience sparked their interest in real estate, and they dove in headfirst, learning the ropes through real estate investment groups and hands-on experience. Frank and Laurie discuss the importance of community and networking, emphasizing how their involvement with their Real Estate Investors Association (REIA) has been instrumental in their growth. They also highlight the value of persistence and the power of negotiation, sharing practical tips and personal anecdotes that illustrate their learning curve and successes.

Key Takeaways

• 03:02: Initial Real Estate Program and Joining Local Investment Group
• 04:49: Benefits of Community and Accountability
• 08:25: Emotional Hurdles and Control in Real Estate
• 14:13: Attraction to Tom Zeeb’s Program
• 15:20: Negotiation Techniques and Confidence Building
• 17:27: Emotional Detachment from Properties
• 20:04: Rehabbing as Primary Exit Strategy
• 21:25: First Flip Experience and Learning Curve
• 22:45: Helping a Seller in Foreclosure
• 29:29: New Construction and General Contracting
• 30:26: Changes from Total Traction Program
• 36:14: Differentiating from Competition
• 37:04: Importance of Follow-Up
• 41:22: Using Negotiation Techniques with Contractors
• 44:02: Benefits of Being Persistent
• 45:26: Craziest Deal Experience
• 48:53: Advice for New Investors

Tweetable Quotes

"What I like about it is it makes us more valuable as investors. If we're not able to purchase a house or if we don't like the deal, it doesn't fit into our criteria. We'll know somebody that does or we'll find somebody that does. So we'll be able to help that person that is perhaps in a tough spot with their credit or they have to move for whatever reason. It's really important to them. We'll find a way to help them solve their problem or leave them with value." (Laurie)

"We just had a gut feel that there was an opportunity here that we could. We're smart people. We should be able to make this work. Just have to put in a little bit of effort into it. And Lori will tell you, once we committed to it, she didn't sleep for a week." (Frank)

"I have to separate the emotion from it. That was another big hurdle. Alongside getting into the business at first, separating myself emotionally and thinking of the houses as just inventory was a big deal. I feel that I'm getting to that point, or I've really made a big stride in having the properties be inventory and not take an emotional toll on me." (Laurie)

Guest Resources

Tom’s Training Website

Tom’s TOTAL TRACTION program

Traction REIA Nationwide

DealMachine Special Bonus Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Tom welcomes to the show a long time Traction member, David Hayes, who shares his journey to real estate investing, rehabbing vs wholesaling properties, and why real estate investment truly was something which he couldn’t afford to fail. Today, David joins the show to talk about overcoming the ‘fear of success’, face-to-face negotiation tactics, and the importance of sticking to your exit strategy.

Key Takeaways

• 01:02 – Tom introduces today’s guest, David Hayes, who joins the show to discuss how he had no choice but to succeed in real estate investment and the concept of ‘buying correctly’
• 06:11 – The fear of winning
• 09:12 – Rehabbing properties and wholesaling
• 17:45 – To buy, or not to buy?
• 21:06 – Face-to-face negotiation tactics
• 23:45 – David’s mindset and why he’s been a Traction member for years
• 27:46 – Being comfortable with the uncomfortable
• 31:22 – Dealing with taxes and investing in deductions
• 33:16 – The most impactful thing Tom has taught David and the art of conversing with others
• 38:45 – Advice David would give to the negotiation skeptics
• 42:31 – Advice David would give to anyone hesitating to get involved in real estate investment
• 53:21 – Overcoming the excuses and dealing with being a ‘perfectionist’
• 1:00:47 – Tom thanks David for joining the show and sharing his story

Tweetable Quotes“Back then it wasn’t so much that I was investing, but I was fine-tuning my craft. I took a lot of courses. I learned a lot of information. I learned a lot, but I didn’t know how to put it into action.” (01:36) (David)“People buy courses and they invest their money in education. But, education is only part of the equation; you have to put action behind it. And if you don’t put action behind it, nothing’s gonna happen. And a lot of time that inaction is because of fear.” (05:38) (David)“I don’t deal with motivated sellers because they don’t fit my criteria. I need HIGHLY motivated sellers. I need a person that I can ask the question, ‘If you don’t buy from me and I don’t buy from you, what’s your next move?’” (10:57) (David)“With this particular wholesale deal, I gave three different offers. The chances of getting a house when you make three offers and they make sense is very high. It’s a lot higher than just making one offer.” (22:09) (David)“One of the things that I learned about real estate is that sometimes you have to just go out on blind faith. People don’t feel comfortable with that. And, if you’re not gonna do it the way people who are successful are doing it, then that means that you’re gonna try to learn it your way, which is going to take more time.” (27:46) (David)“You need to know how to talk to people. And if you can talk to people and make people relax around you, then they can believe in you. And if they believe in you, then they’ll listen to what you have to say. If they’re not sure about you - if you go in and they don’t get a good vibe from them - it takes a lot of work before you can turn around and get them to believe in you later on. So, the best thing to do is, from the minute you meet them, be very humble.” (36:16) (David)“You have to know what your goal is. And based off your goal, you’ll know what you need to do. So, if you need immediate cash, then you want to wholesale. If you want to develop legacy money, then you want to buy cheap. Sometimes it requires a combination of the two.” (44:50) (David)“When you buy something, know what your exit strategy is before you buy and stick to it.” (50:04) (David)Guest Resources

Tom’s LinkedIn

Tom’s Training Website

Tom’s TOTAL TRACTION program

DealMachine Special Bonus Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Tom welcomes to the show a successful student of his, Sam Glavin, who shares what inspired him to venture out into entrepreneurial real estate, what drew him to Tom’s program, and how he’s dealt with massive rejection. Today, Sam joins the show to talk through his marketing strategies, recent rehab deals he’s completed, what ‘wholetailing’ entails, and his future investment goals.

Key Takeaways

• 00:59 – Tom introduces today’s guest, Sam Glavin, who joins the show to discuss what inspired him to pursue entrepreneurial real estate
• 07:21 – Why Sam chose Tom’s program and Sam’s biggest deal to date
• 13:23 – A numbers game
• 16:54 – Dealing with rejection (42 times to be exact)
• 20:38 – The tedium of marketing and making things conversational
• 27:32 – Sam’s big rehab deal
• 30:54 – ‘Wholetailing’ explained
• 35:32 – Hiring employees & building a business
• 39:24 – Advice Sam would give to anyone hesitating to get involved in real estate investment
• 43:29 – Tom thanks Sam for joining the show and sharing his story

Tweetable Quotes“I say the first deal is around the corner, because it is. I worked four months to get my first deal and then it happened. And then literally two days before I sold that one, I got my next one under contract.” (10:46) (Sam)“It feels almost too good to be true to even keep it up. It’s one thing to get a deal every couple of months, but to actually keep it up and start turning it into a business, I do see that mental shift you’re talking about. It’s hard to see.” (12:46) (Sam)“It is a low response rate for most types of marketing. I think the biggest thing is testing stuff and testing everything.” (21:29) (Sam)“I used to be very, very shy. You would have never, ever had me doing any networking events. It would be unheard of for me to do anything like that. Once I realized that you’re just talking to people who have a house issue, it’s just made it more streamlined. I’m not asking question after question. I’m just having a conversation with them, understanding what they need and what they want with their house.” (23:15) (Sam)“You are paid in proportion to the problems that you solve. Solving a housing issue that is some people’s biggest purchase is incredible. We get paid very well for solving that issue.” (24:58) (Sam)“I will never stop having leads come in. That’s the death of your business really.” (30:04) (Sam)“I want to turn this into an actual business and get into long term, tax benefit type real estate.” (38:05) (Sam)Guest Resources

Tom’s LinkedIn

Tom’s Training Website

Tom’s TOTAL TRACTION program

DealMachine Special Bonus Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Tom welcomes to the show a successful student of his, Bob Erwin, who has a background in real estate as an investor in distressed properties. Today, Bob joins the show to detail his deal flow and process, how he approaches the beginning phases of a negotiation, and marketing strategies that he has successfully implemented.

Key Takeaways

• 00:53 – Tom introduces today’s guest, Bob Erwin, who joins the show to discuss his background in distress properties, how Craigslist helped him secure a deal, and his latest project
• 07:00 – Why Bob decided to pursue Tom’s program
• 10:36 – Bob details his deal flow
• 13:19 – From small talk to business talk
• 17:50 – Dealing with rejection
• 19:36 – The number one best negotiation lesson Bob has learned from Tom
• 21:55 – Marketing strategies that have worked for Bob
• 25:44 – Advice Bob would give to anyone hesitating to get involved in real estate investment
• 28:07 – What Bob got out of Tom’s Total Traction program and final words of advice from Bob
• 32:14 – Tom thanks Bob for joining the show and sharing his story

Tweetable Quotes“I enjoy it - vacant property, niches, tall grass, broken windows, abandoned cars, code violations, things like that. As long as somebody is living nearby that property, you can find a way to find that owner and take over that property.” (03:56) (Bob)“You find that there’s a lot of people out here who just hold on to these properties. They’re sometimes boarded up, they’re paying fees to the city to cut the grass and things like that, but they won’t sell them. Only in America does stuff like this happen.” (04:31) (Bob)“I don’t pray for patience, I use it.” (07:51) (Bob)“When you find that one piece of property and you keep hitting them, and hitting them, and hitting them, and staying consistent and persistent and having a little bit of patience, that often wins you that opportunity.” (10:21) (Bob)“I was in Walmart a couple of weeks ago, and I had on my t-shirt that said, ‘We Buy Houses,’ and somebody in line said, ‘You’re the person that’s sending me those cards all the time.’ And it was somebody that I never sent a letter to, but the idea here is that they recognized who I was. I didn’t make a deal with them, but I gave them my business card and I made sure they knew who I was.” (24:17) (Bob)Guest Resources

Tom’s LinkedIn

Tom’s Website

Tom’s Training program

DealMachine Special Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Matt Kamp is the Vice President of Partnerships at DealMachine, the highest-rated and most- reviewed mobile app to find off-market real estate deals. Today, Matt joins the show to discuss the many features of DealMachine, and how they are achieving their goal of helping real estate investors find deals. Matt and Tom talk about the numbers game that is Marketing, the importance of consistency, and overcoming the paralysis by analysis mindset.

Key Takeaways

• 01:02 – Tom introduces today’s guest, Matt Kamp, who joins the show to discuss DealMachine, the highest-rated mobile app to find off-market real estate deals
• 05:31 – Driving for Deals
• 09:31 – How DealMachine works
• 15:02 – The postcard feature
• 17:38 – The unglamorous secret to Marketing
• 21:07 – Matt’s route tracking process
• 24:43 – The overall goal and focus of DealMachine
• 27:55 – Advice Matt would give to those considering DealMachine
• 33:22 – Matt announces some great giveaways to listeners
• 36:32 – Tom thanks Matt for joining the show and lets listeners know where to connect with him

Tweetable Quotes“Deal Machine, in general and from a high level, you can really think of us as a tool to help you find off-market deals. That’s really what it comes down to.” (02:29) (Matt) “Our view on technology is that it should be enabling you to better do your job. And, the right actions to take that are gonna get you to deals is finding people who are motivated to sell, getting in contact with them, and actually having a conversation.” (04:33) (Matt) “In the end it’s a numbers game, and it comes down to taking the right actions consistently and building out a system to do that.” (09:05) (Matt) “If you’re actively doing this, you can re-drive areas every six months or so and find fresh opportunities. So, that data is super helpful.” (24:08) (Matt) “It truly is about mindset. You have the playbook in front of you and you know it’s worked a ton of times. It’s easy to feel like you need to know everything before you get out the door and take that first step...but, unless you get out there and take action, it’s not gonna translate.” (32:34) (Matt)Guest Resources

Tom’s LinkedIn

Tom’s Website

Tom’s Training program

Matt’s LinkedIn

Matt’s Email

Link to The 3-Step Playbook to Find Deeply Discounted Off-Market Deals

Link to DealMachine Free Trial: Use Promo Code ‘TRACTION’

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Stan Friedman & Ange Lorenz are a husband-wife duo who have discovered the adventure of real estate investment and are reinventing themselves accordingly. Stan has a background in the financial industry and Ange is a former small business owner who loves real estate. Today, they join the show to discuss how they cope with unanticipated problems that arise from real estate investing, what it's like to work together as a couple, how they transitioned their lives and business from the DC area to Florida, and advice they would give to those hesitant to take the plunge into this exciting world.

Key Takeaways

• 00:56 – Tom introduces today’s guests, Stan Friedman & Ange Lorenz, who join the show to discuss what it’s like as a married couple working together in real estate
• 08:21 – Unanticipated problems
• 18:26 – Transitioning their business from Maryland to Florida
• 22:59 – Age is just a number
• 28:14 – The number one takeaway from working with Tom
• 33:13 – The value of being a contrarian
• 34:57 – What Stan and Ange would do differently if given the chance and advice they would give to anyone hesitating to get involved in real estate investment
• 44:56 – Tom thanks Stan and Ange for joining the show and sharing their story

Tweetable Quotes“I’m the creative person. He’s the finance guy. So, we have our own skill sets and where we come into conflict is when I have my designs and he says, ‘No, this is the budget.’ So, it’s a challenge sometimes, but it’s fun working together to complete a project together.” (05:16) (Ange) “We’re looking at [real estate investing] as reinventing ourselves. So, it’s very exciting for us.” (23:21) (Ange) “If something goes one way, you go the other way. This is the only business I’ve been in where you can make money whether the market goes up, down, or sideways. You just have to know that if this isn’t working, you try something else.” (26:52) (Stan) “You have to push forward and make those dreams a reality. Carve out the time that you need to do what you want to do and move forward with it, rather than letting all of the other noise get in the way and rob you of your time.” (37:38) (Ange) “Ok, so you’re gonna have some crabby people on the other end. You have crabby people in the grocery store, for crying out loud. You just deal with it and move on. So, just look at it as an adventure, as an exciting opportunity to meet people and help people out of their situation, because that’s what you’re doing.” (40:34) (Ange)Guest Resources

Tom’s LinkedIn

Tom’s Website

Tom’s Training program

Stanley’s LinkedIn

Digital Business Card

DealMachine Special Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Matthew Kimberley is the CEO of Book Yourself Solid Worldwide, author of Get A F*cking Grip, and creator of Delightful Emails, The School for Selling, The Single Malt Mastermind and more. Today, Matthew joins the show to discuss the nuances of negotiating and selling, how to exercise your ‘Sales Muscle,’ and the power of speaking things (or asking them) into existence.

Key Takeaways

• 01:04 – Tom introduces today’s guest, Matthew Kimberley, who joins the show to discuss his background in recruitment and how he got involved in real estate investing
• 07:24 – The Sales Muscle
• 19:43 – Overcoming the fear of selling and building confidence
• 32:05 – The power of speaking things into existence
• 34:53 – The difference between Negotiation and Sales
• 38:12 – Play the Game and have fun doing so
• 39:32 – Tom thanks Matthew for joining the show and lets listeners know where to connect with him

Tweetable Quotes“I help people who haven’t been trained in selling, but they have got some other technical skill. And I help them marry their desire to make a decent living from their technical skill with the ability to actually make a decent living. So, they have the desire, and I show them the processes, the skills and the knowledge that they need to have in place. And I try to keep things as simple as possible.” (06:34) (Matthew) “There is absolutely no question that there’s a direct correlation between meaningful sales activity - asking people, ‘Would you be interested in buying my thing? Would you be interested in sitting down and talking about this opportunity? Are you in the market for? - and how many sales you make. The old adage from Glengarry Glen Ross that we should ‘Always Be Closing’ is nonsense. We should always be opening. We should always be creating opportunity. And creating opportunity is as easy as asking, ‘Are you interested?’” (09:55) (Matthew) “Nobody ever gets offended, ever, when you say, ‘Would you be interested in buying my thing?’ People get offended when you don’t listen to their answer.” (16:14) (Matthew) “The temptation for many people - especially at the beginning of their sales journey - is to invest a lot of opportunity in anybody who expresses interest.” (21:52) (Matthew) “We can all improve the quality of our lives by recognizing that if we ask for something, there is a much higher possibility of us receiving it. And, you can apply this to your actions as a buyer as well as your actions as a seller.” (32:05) (Matthew) “Anybody who decides that they will learn selling can make a living. In any economy, there will always be supply and demand requirements. If you can sell, then you’ll never go hungry. And if you can remember that, it can be an awful lot of fun.” (38:51) (Matthew)Guest Resources

Tom’s LinkedIn

Tom’s Website

Tom’s Training program

Matthew’s LinkedIn

Matthew’s Website

Matthew’s Instagram

Matthew’s Book

DealMachine Special Offer

Books Mentioned:

Book Yourself Solid

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Jake Draves is a current student of Tom’s and today, Jake joins the show to walk Tom through some of the latest deals he’s made using the strategies and best practices he learned from Tom’s course. Jake talks about overcoming paralysis by analysis, the value of going back and forth in negotiations, and his future goals to pursue everything from wholesaling and flipping to holding.

Key Takeaways

• 00:54 – Tom introduces today’s guest, Jake Draves, who joins the show to discuss his background in the real estate appraisal industry and what made him want to be an investor
• 05:42 – How Jake took advantage of The Deal Machine Challenge
• 07:10 – The negotiation process and the importance of going back and forth
• 12:17 – The duplex deal
• 16:59 – Jake talks about a third deal he recently made
• 19:08 – Overcoming paralysis by analysis
• 20:34 – Advice Jake would give to his younger self and what he would do differently if given the chance
• 25:42 – Initial fears Jake had to overcome
• 28:34 – What’s next for Jake
• 29:54 – Tom thanks Jake for joining the show and lets listeners know where to connect with him

Tweetable Quotes“[Negotiation] was the one thing I was a little bit worried about because I was under this misconception that I had to be the Wolf of Wall Street in order to negotiate and then I’d hit a roadblock and it’s gonna show through. But, it couldn’t have been easier, especially having the framework of your courses.” (10:09) (Jake) “I understand that mistakes will be made. I’ve accepted that. I’m just trying to make sure every time I walk away from a conversation, I’m replaying it in my head and looking at what went wrong and looking at what I did right.” (19:21) (Jake) “If I’m just clicking away on YouTube, you just never know. You don’t have access to any of the ‘experts’ that you’re trying to learn from.” (28:19) (Jake) “I would like to get to the point where any lead that comes in I would know what to do with it and how to deal with it, whether that’s wholesaling, flipping, or hanging onto it. It might take me a little bit longer to get to my end goal if I’m being split up down the three paths, but that is my ultimate goal.” (28:48) (Jake)Guest Resources

Tom’s LinkedIn

Tom’s Website

Tom’s Training program

DealMachine Special Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Dov Gordon is a marketing expert with a gift for helping businesses create simple, compelling marketing messages. Dov has been one of Tom's consultants for many years. Dov is the Founder of JVMM, a highly curated network of "thought-leader" entrepreneurs who promote each other. Recently, Dov decided it was time for another ‘leap.’ He shut down his own boutique coaching business and made JVMM his main focus. His mission is to serve his members as best as he can. Today, Tom and Dov engage in a rich discussion on curating a simple, compelling message, how to attract the right people, and how to clarify your Marketing message to make your entire real estate negotiation process easier through having a compelling marketing message.

Key Takeaways

• 01:01 – Tom introduces today’s guest, Dov Gordon, who joins the show to discuss what goes into an ideal marketing message and how he attracts the right client
• 12:05 – Curating a simple, compelling, head-turning message
• 23:50 – The Cash Flow example
• 29:15 – The Cup of Coffee/Pint of Beer Test
• 31:31 – How Marketing overlaps with Negotiation and the difference between rushing and a sense of urgency
• 35:45 – Tom thanks Dov for joining the show and lets listeners know where to connect with him

Tweetable Quotes“A good marketing message will lead you to change your plans and take a step towards me or towards whoever is putting out the message.” (04:33) (Dov) “The first thing to understand is what is the purpose of a good message. And the purpose of a good message is to get the attention and the interest of your ideal client. That may or may not sound like a tall order. The good news that there’s only two things that get the attention of your ideal client. Number one, a problem they have and don’t want, and/or if you talk about a result they want and don’t have.” (04:58) (Dov) “In order to craft a simple, head-turning, compelling message, you need to start with your core idea and take it through seven filters. You really want it to pass from one to the next and, if it goes through all seven filters, you’ve got a simple, head-turning, compelling message.” (12:33) (Dov) “People try to load too much into their messages. They try to be too high level and the problem is it’s meaningless. If you try to put too much into it, you lose people. And the reason we do that is because there’s so many people we could help. That’s true, but the more you put in there, the fewer people are gonna read your message. So, you’ve got to work with human psychology.” (28:49) (Dov) “There’s a distinction between rushing and a sense of urgency. Rushing is where you try to make something go faster than it’s naturally able to go. A sense of urgency is where you don’t allow things to take longer than they need.” (32:47) (Dov)Guest Resources

Dov’s LinkedIn

Dov’s Website

Dov’s Email

Dov’s Facebook

Dov’s Instagram

Dov’s Masterclass

DealMachine Special Offer

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Valerie Lucas is a real estate investor, Traction REIA member, and a student of multiple training programs, including Tom’s Total Traction program. She’s a dedicated and consistent entrepreneur who took a big leap of faith and has been rewarded many times over. Today, Tom and Valerie take a deep dive into her investment strategies, how Valerie used the power of marketing and consistency to grow her business, how she combines the various programs she is in to maximize and achieve top results, and advice they would give to the naysayers and nonbelievers.

Key Takeaways

• 00:03 – Tom introduces today’s guest, Valerie Lucas, who joins the show to discuss the real estate investment deals she’s working on and how she mastered the art of consistency
• 07:41 – How much money and time Valerie has saved by implementing Tom’s system
• 09:19 – Valerie speaks to her largest deal and what having great cash flow has allowed her to do
• 12:50 – Breaking the stereotype associated with investors
• 17:36 – The Marketing Magic
• 19:37 – Deal Machine, explained
• 23:58 – Valerie talks about what was different about Tom’s training course and how it has unlocked the other training programs she uses.
• 25:46 – Advice Valerie would give to those considering a career in real estate investing
• 28:43 – Overcoming the ‘time hurdle’
• 32:44 – What’s next for Valerie
• 34:48 – Debunking the excuses
• 38:13 – Tom thanks Valerie for joining the show and congratulates her on all of her success

Tweetable Quotes“You have to want it. That’s what I wanted. I wanted that freedom.” (08:29) (Valerie) “Even when you flip houses, you’re taking a home that’s in a community that could be an eyesore for those living in the community and you’re bringing it up to value.” (13:00) (Valerie) “I’m literally just riding down the street and I see a house that I can take a picture, send the postcard and all of that right from my phone. Before, I used to have to write the address down, get back home, pull it up, do the research. Deal Machine helped automate all of that.” (19:09) (Valerie) “I’m looking to build my wholesaling business. That’s what I’m focused on now. So I can build it, stack up some cash and position my furnished rental business. The goal there is to eventually sell that off.” (32:55) (Valerie) “You’ve just got to do it. It will work. You’ve just gotta stay consistent, and identify a budget - even a small budget - because once you get to your first deal, you can reset and pay off whatever you need to pay off. Before you know it, your accounts will start to have some high balances on them.” (38:40) (Valerie)Guest Resources

Valerie’s LinkedIn

Link to Deal Machine

Traction REIA

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy