Alex wants to stress the importance of creating systems in your business. When you have good systems in place, anybody can take a look at your business and fit right in. Alex talks on how you can put effective systems in your business and why you should always document the process and make sure it is still up-to-date three months later. Systems help make sure you're on the same page with your team and it also gives you a way to take yourself out of the picture.
Key Takeaways:
• Thank you for sending in your questions!
• Everybody understands the importance of having systems in their business, but what does it actually look like?
• You want to have a strong system in place so you can replace yourself.
• If you're still interested in this topic after the show, Alex can do a master class on it as well.
• First of all, what is step one? Outline the various categories and subcategories of your business.
• It's important to document what you plan to do and make it easy to read. Alex does this in a video format and then has his VA organize it in a word doc.
• Don't just rely on video, because things change and things need to be updated.
• You want the document incredibly, incredibly easy. Can't stress this enough. Include bullet points and screenshots, so that anybody can quickly understand the tasks at hand.
• Every three months you want to check back on all the SOPs (Standard Operating Procedures) you've created.
• Focus on creating one SOP a week. Don't overwhelm yourself.
• You always want to be thinking, “How can I remove myself from this process?”
Mentioned in This Episode:
The E-Myth Revisited by Michael Gerber
Use Screenflow For Screen Capture Videos (to record SOPs)
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
David Corbaley is a firm believer that without a marketing strategy, no matter what industry you're in, your business is destined to fail. On this episode, David breaks down the different ways you can expand your marketing strategy without much hassle. There are many different promotional methods you can use for the real estate market and they are often times free. So, stop wasting money today and listen in to David's wise words.
Key Takeaways:
• Marketing is the heart of your business.
• David gives a couple of examples on the differences between inbound and outbound marketing.
• You have to get creative with your marketing.
• How can people get started? What's the best plan of attack?
• You should never rely on one source of marketing, ever.
• There are so many different ways you can show up online.
• Leverage Craigslist. It's free!
• Get on the phone and call these people.
• People will follow the path of least resistance.
• You can hire someone to make those calls for you.
• If you don't know what you're doing with Google AdWords, it can really bite you in the butt.
• SEO will not give you immediate results. It's a long-term play.
• Take a couple of things you've learned here on the show and implement them today!
• What is the one piece of advice David recommends? Stop learning! David explains further.
Mentioned in This Episode:
The Real Estate Investors Resources Kit
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
In this quick episode, Alex discusses the importance of a morning routine and why getting up on the right foot each and every morning sets you up for success. To give you an example, Alex also talks about what is currently working for him and reminds the audience to keep testing the routine out until you've perfected what works for you.
Key Takeaways:
• Let's talk about your morning routine and why it matters.
• What does Alex do every single morning?
• You should aim to get a full night's sleep. Your body needs the rest.
• Eat healthy. It's very hard to accomplish goals if your body feels terrible.
• Alex loves waking up at 4:30-5am.
• Don't hit the snooze button, you're not doing yourself any favors.
• Put your alarm clock on the other side of the room.
• Alex loves Headspace and working out.
• Create your to-do list the night before.
• Work in sprints instead of marathons. Break your day down in chunks.
• Create a schedule that reflects your lifestyle.
Mentioned in This Episode:
www.flipempire.com/
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Rob Swanson has been actively wholesaling real estate for almost 20 years. He loves to teach new and experienced real estate investors how easy it is to get into the wholesaling business and scale it to the next level. This episode, Rob talks about his strategy, the entrepreneur's trap, and cautions new investors to really take a step back and be aware of the risks they are making.
Key Takeaways:
• Feel free to leave us feedback!
• How did Rob get into entrepreneurship and real estate?
• Rob talks about the 'entrepreneur's trap' quadrant formula.
• People get confused between the meaning of residual vs. passive income.
• What are the private lenders doing financially that allows them to lend Rob the money?
• Rob changed the questions he was asking himself and started thinking from a different perspective how to scale his business.
• Rob and Alex talk about FreedomSoft.
• How do real estate investors move within the entrepreneur's trap quadrant?
• People often approach this business with a buy/hold strategy. Rob does it differently.
• We're in a hot market right now. The rents are going too.
• People are making a lot of money right now, but be careful, there could be a crash coming soon.
• Step back, take risks, but make intelligent risks. Don't go all in.
• How do investors hedge against a real estate crash?
• Last piece of advice? Build an audience first.
Mentioned in This Episode:
[Brand New] Simple 3 Step System Get's Motivated Seller Leads In Under 9 Minutes (Step-by-Step)
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Alex's entire real estate team works virtually, so how does he do it? Alex does a quick breakdown on how he manages his team virtually by having a weekly team huddle. He also talks on the importance of having a strong team and breaks down who he hired and why when he was growing his business.
Key Takeaways:
• Let's talk about the daily/weekly team huddle.
• Have a question? Feel free to send it to Alex!
• How does Alex structure his team meetings?
• Experiment with what works best for you.
• There's only one of you and only 24 hours in a day.
• Alex breaks down who he hired when he was still pretty early in the business.
• How do you maintain connected with your team when they all work virtually?
• Have an agenda in place before the team huddle to keep everyone on track.
• If you ask and listen to feedback, your team will let you know where the bottlenecks are.
• Encourage your team to be honest with you.
• Alex makes sure each team member in his company has a voice.
• Two minds are better than one!
• Give it a couple of weeks to get into the flow of the team meetings.
Mentioned in This Episode:
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Trevor Mauch joins us today to talk about the best way to market your business from an SEO perspective. Trevor does a great job breaking down the tips and tricks you need to follow step by step. The benefit to working on an SEO strategy is that your ROI will only continue to climb once you've put in the legwork and persistence, so it can turn into a highly affordable marketing tool.
Key Takeaways:
• A big mistake investors make is that they do not have the right mindset.
• Trevor realized his marketing mindset was completely wrong.
• Trevor has noticed his conversion rate in hot markets has gone down quite significantly over the last two years.
• You want to 10x your efforts to get the results that you want.
• If you're just dabbling with your marketing strategy, understand that you will not get immediate marketing results.
• Portland is a booming market right now, you have to be prepared to have no leads come in during the next 6 months.
• Anyone can get a top ranking on SEO with enough time, patience, and strategy.
• Once you get the top ranking, your ROI will continue to climb.
• SEO is hard to understand. Alex recommends that you outsource this task.
• Never work with an SEO company that only offers month to month or three month packages.
• Trevor talks about what to look for in your website.
• Post a couple of ads to Craigslist.
• Allocate a couple of hundred dollars on a very targeted keyword through pay-per-click.
• Check out Trevor's blog posts on his website, OnCarrot.com
Mentioned in This Episode:
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Alex discusses why you should always give your seller a different set of options and offers, when looking to purchase their home. He normally gives his sellers three options - a low cash offer, a owner fiance or lease offer, or a retail listing. By setting the seller up with these different options, they're more likely to agree to doing the deal with you and use you as their provider. However, if they're still unwilling to do a creative finance deal with you, do not throw that lead away! Alex explains how you can continue to put that lead to good use.
Key Takeaways:
• Remember to check out our master interview with Erik Stark part one and part two.
• You want to give the sellers you speak with on the phone different options.
• Most of the leads you get, the seller will lack motivation and any real interest in you.
• Despite this, do not throw those leads away! Monetize them.
• Alex likes to give his sellers three options. He recommends to take control of the situation.
• You don't want to only send a cash offer.
• How does Alex monetize retail leads?
• If you're not a licensed agent, check with your attorney on the best legal way to do this.
• Do not throw the lead away if the home owner does not want to structure an owner finance deal with you.
• Alex will sometimes outsource that tough lead or keep in touch with the homeowner at least once a month.
Mentioned in This Episode:
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Erik Stark joins us again on The Flip Empire show to continue his discussion on how he structures owner finance deals. Erik and his business partner, Steve Mills, have sold over 400+ properties in the last 11 years, so Erik definitely has a lot of qualified experience and advice up his sleeves. Tune in to discover why Erik likes interest only deals and why he would rather have a big payday over a fixed monthly income.
Key Takeaways:
• Be sure to listen to part one of this interview with Erik first!
• Erik does a quick recap of what he talked about in part one.
• When structuring owner finance deals in this particular way, many times the sellers do not want their money back. They want to have a passive income on their property instead.
• If you're confused about what's happening here, rewind this podcast if you have to!
• What happens if Erik could not find a property to move his lender's collateral to?
• Why does Erik structure all of his deals to be interest only?
• Erik usually does an interest only deal for the first year and then moves it to an amortized loan.
• Erik is turning home owner sellers into private lenders.
• Communication is everything to your leaders.
• Alex does a quick recap of the deal he and Erik are talking about.
• How does Erik decide when to turn down a big payday?
• Erik prefers a large cash pay day vs. a monthly income, because he knows he can invest it wisely.
• At the end of the day, the way you structure your deals is a lifestyle choice and decision.
• Alex gives his sellers three options. He gives them cash now, an owner fiance or lease option, or sell their property to a retail buyer.
• Sometimes it's hard to turn down a big payday deal.
• Alex acts like a seller to get a better idea of how Erik works.
• Erik likes to plant the money-earning-potential seed while he is on the phone with a seller.
• Thank you for listening!
Mentioned in This Episode:
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record you question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the
“5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!