Virtual Real Estate

One of the fastest ways to make money without having to build an actual business.

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---Transcript---

What's up everybody? This is Russell Brunson. Welcome back to the Marketing Secrets Podcast. Right now, I've been working on Funnel Hacking Live and planning and preparing a bunch of really cool things. I want to share with you guys a concept that I'm working on for potentially a presentation at Funnel Hacking Live, so you’ve got to tell me if you think it’s cool. If so, I'm going to flush this out and show you guys the magic. With that said, queue up the theme song and when we come back I’m going to talk about virtual real estate secrets.

All right. So Funnel Hacking Live is coming. I'm pumped. I'm excited. We're planning out the event, the venue, the excitement, the speakers, the presentations, what I want you guys to get. I'm time-lining, storyboarding out the entire thing. If you knew how much goes into Funnel Hacking live, you'd be pretty excited. For those who have been in the past, you know it is a huge show. And for those who haven't been yet, this year is going to be the best ever. And why? Because, number one, I'm hoping by then, most of the COVID restrictions are done and we can just have a normal event. If not, we've got some backup and contingency plans. But for most of us, we haven't hung out for a long time, and I want to get together, hang out with a bunch of funnel hackers. So the parties on. We're doing it. It's happening in Florida. If you don't have your tickets yet, go to funnelhackinglive.com. It's coming up this September.

But regardless, the reason why I'm here today is tell you guys I've been planning this event and I've got some really cool stuff I'm going to share. We have some big updates. There's so much, so much stuff that they're constraining me from speaking. I'm not allowed to tell you guys, but regardless, I promise you, you will want to be there. It's going to be worth it. We do have virtual options this year, and so for those who can't physically come, you can watch. You can attend virtually as well.

But anyway, I'm working on some ideas for content and I have something I want to talk about. It's been on my mind for literally, probably 10, 12 years, and it's this concept of virtual real estate. Okay? Obviously, most of you guys know what real estate is, right? You buy houses, you flip houses, you rehab houses, no money down, all this stuff. There's a million different ways to make money in real estate. But as cool as that is, real estate typically cost a lot of money if you go and do the thing, which is kind of annoying. And so, I want to talk about this concept called virtual real estate, which is web properties.

What's interesting is anything you can do with a real property, like actual real estate, you can do the same things with virtual real estate, especially as you start becoming a master of all these principles and these concepts you've been learning from us, right? You learn about funnel building and traffic generation and copy and storytelling and all these things. When you learn and start mastering these things, you can literally do the exact same things that people are doing with real estate, but with virtual real estate. And honestly, it's a lot more profitable, a lot less startup costs and things like that.

For example, let's say I want to go into actual real estate. So I'm going to go find a house and I'm going to find a house that's underpriced. I'm going to buy it. So say I find a house for 200 grand or whatever. I buy this house. I'm going to take them. I'm going to fix it up. I'm going to slap some paint on it. I'm going to throw in a new washer and dryer, a new refrigerator. I'm going to, whatever, lipstick and rouge to make this house nice, and then I'm to go flip it and make like $50,000 profit, right? There's a strategy in regular real estate, right?

Now, you may be saying, "Well, how does that work in virtual real estate?" Okay. Well, there's a lot of people who create some insanely cool products who don't know what you know, and there's a lot of places to find these things. One of them is flippa.com, which is a cool place that is literally a marketplace, people selling websites and products and businesses that they created but they couldn't figure it out. And there's tons of other marketplaces. I don't have them here on top of my head, but Flippa is one of my favorites I go to. Almost daily, I look at Flippa.

There's other ones out there. I think Shopify's got a marketplace, all their old Shopify store owners to sell there's. Anyway, there's a lot of out there. But basically you go to these stores and you find something where someone's got a really, really cool product, but they suck at what? All the stuff that you're good at, right? It's like a house, that you find this underpriced house. Yeah, the house looks like crap, but I know all you got to do is throw some lipstick on this thing, some paint, a new refrigerator, and this thing's something going to be worth $50,000 more. Right?

You can do the same thing online. You can buy a website for five grand, 10 grand, 50 grand, 100 grand, whatever it is, a lot less typically than a house. You buy the thing and say, "Okay. I know these principles now. I understand this thing needs a funnel. I found a Shopify that's got a whole product line, whole bunch of SKUs, but no one's buying it because there's no funnel. So I know how to build a funnel." Right? Your funnel is your version of some paint you're slapping up on thing, or you're putting in a new fridge and a dishwasher to make the resell value go up.

You put a funnel in. You guys know traffic generation after read traffic secrets. You plug in some traffic, start driving traffic. People go through the funnel. You make some money and follow up sequence, then plugs them into the Shopify store. And boom, all of a sudden, this thing that's making no money you buy for five grand is now making five grand a month, 10 grand a month, 100 grand a month, whatever it is. Now you can take that and you can flip it, or you can just keep it like cash flow. Right? You can do the same thing with a house. You can let the house cashflow, or you can flip it or a whole bunch of other things. Okay.

It's powerful. I think this is primarily my fault. I obviously am very passionate and excited about me and you guys creating businesses out of our minds, like creating courses and products. I talk a lot about that or creating e-commerce stuff. You go and you find a product and you source it from China or whatever. We talk about those things a lot. But what people don't talk about is the fact that there's tons, millions of businesses that people built that are there that are just dead or they're mostly dead. Well, you can come in and buy them at a huge discount where the product's figured out, the content, that all the stuff's done. They just don't have traffic. They just don't have the funnel. They just don't have a good video. They don't have good storytelling.

They don't have like the things that you have now. You don't have to go create anything from scratch. You just go buy these things for pennies on a dollar. Buy it, apply it with lipstick and rouge that you've been learning through all the stuff I've been teaching now for the last two decades. And all of a sudden, you can start making money out of the gate. And so, secretly, as I've been thinking about Funnel Hacking Live now for the last year, since we hung out last, I've been thinking about this. I was like, "I want to do this. I want to show some case studies of me doing it." And so when COVID hit, a lot of businesses went under. A lot of businesses got shut down. A lot of them, they lost their cashflow. A lot of them, like all sorts of things start happening.

So I started looking for these opportunities and I started buying a handful of them. I won't be able to show you guys now because we're in the process of... At Funnel Hacking Live, I'll be able to show you, "Hey, I bought this company right here. I bought it for $50,000. I applied this funnel, this traffic strategy, these three things, put it up online. Now it's making 10 grand a month. I bought this one right here for this. I bought this one for free. I just had to cover the new inventory costs, paid for inventory costs. I applied this funnel, this funnel, this funnel, boom, launched it and look what happened."

I'm going to have tons of case studies to show you guys. So that's kind of something to look forward to Funnel Hacking Live. But for right now, I want you guys thinking about it as well. Okay? It's on my mind. It's fun. It's exciting. Think about it. What businesses are out there that you could buy, you could partner with, you could take equity in? You went out of business. You could go get the assets and you can turn it back into a business. You turn it back on.

If you look at Tai Lopez right now. You could say what you want. Some people love it. Some people hate him. I have so much respect for him. I think he's the man. I've hung out with him a bunch of times, and one thing that he's killing on right now, he went and he bought Radio Shack. They're going under. He bought Radio Shack and he's flipping it now. He bought Franklin Mint. He bought Pier One Imports. He's buying all these crazy companies. It is literally nuts. He's buying them for pennies on the dollar, flipping them, turning them into e-commerce, shutting down the physical locations, and he's killing it with it right now.

It's like this is what I'm talking but at a small scale. Tai's doing this huge scale. Even I'm like, "That's ridiculous. You bought Pier One Imports, dude, like that's nuts." Or Radio Shack? Come on, Radio Shack? It's just insane, but that's the deals he's doing now which, yeah, we can get there someday. But right now, there's tons of little deals, tons of little things you can go. And just for today, for fun, go to flippa.com, F-L-I-P-P-A .com. Go there and just scroll through. Look for all the businesses that are for sale and just look at them and say... This is the mental exercise. Look at a business and say, "Okay, this is a house. I'm going to rehab this house. If I was to buy this house, what funnels would I apply to make this thing successful?"

For example, one of the ones that I am recently acquired is a supplement company. And so supplement companies, they had a Shopify store. They had product. The products are really, really good, but they don't have funnels. So what funnels would I apply? I'm like, well, first off, they need a supplement funnel. So there's a supplement funnel. Second, I'm like, what can we create to get more people into the funnel? Well, we can make a challenge tied to the supplements. There's a challenge funnel. There's a supplement funnel, and so those things.

Then it's like now... the people that had it before, they had a lot of organic traffic. They were selling on Amazon and things like that, but they had no traffic. It's like, well, who's our dream 100? What's the traffic strategy? And then it's like, well, they don't have anything to sell us other than just a picture of the product. What's the story we can tell? What's the videos we can make to capture the story of this product? And so I'm just going through dot-com secrets, expert secrets, traffic secrets, applying, applying, applying these little principles that you've been getting forever. We'll launch this company and it'll be live before Funnel Hacking Live. You'll have a chance to see it, but that's what we're doing. That's the game plan.

So if you guys go look at that, and really what's nice about this is a lot of times you can buy these things for pennies on the dollar. You don't have to go and actually be the front person, the guru, whatever. You just got to create the different assets, create the pieces, plug them all in there, and that quickly you guys have, just again, it's just lipstick and rouge, is you're putting the paint up on the house. You're plugging in the whatever's on the front end. You're fixing the washer and dryer, where those things are. And all of a sudden, you guys' business is cranking.

Again, imagine you buy a business for five grand, and within, by applying two funnels and one traffic strategy or one funnel and two traffic strategies, now it's netting five grand a month. Holy cow! How many times could you do that? Just because you may not be able to like, "Ah, I'm not good on video. I don't know how to create a product. I don't remember frameworks like you could." All the excuses that so many people have when they hear my stuff. It's like, "Cool, then don't." Go buy something and let's rehab it. Let's fix it. Let's flip it. Let's cashflow it. There's so many strategies that are so simple, and all of this is taking the same principles that you've learned, that you understand, that we've been talking about and applying it to these kinds of business.

So there you go. Hope that helps. Hope it gives you some ideas. If you're not at Funnel Hacking Live, you're insane. We're going to be going deep in this stuff. It's going to be so much fun. Make sure you're there. I'll be sharing these case studies examples, showing you guys what we're doing, how we're doing it, why we're doing it, and hopefully get you fired up and excited.

With that said, I am going to go to flippa.com and go find another business to buy because I need some more case studies for you guys. So appreciate you all. Hope this helps. Hope to get the wheels in your head spinning, and I'll see you guys at Funnel Hacking Live. Go get your tickets, funnelhackinglive.com. Thanks everybody, and we'll see you soon. Bye.