Alex is currently experiencing some challenges in his business, and realizes that there are certain processes he can greatly improve upon. For example, certain team members are currently receiving sales training so that they can become even better sales reps in the future.

On this same topic, Alex discusses a client of his who recently fired an expensive, but valuable VA. His client is seemingly having to re-train the cheaper VA and it’s turning out to be wasting her time. Ouch! Don’t think of the expense when it comes to good talent, think of the value they bring to the table.

Key Takeaways:

• Right now Alex has some challenges in his business, and he’s excited by them!
• Alex has been working with one particular client for the last three weeks, and she’s already starting to see results!
• Alex is always looking for talent.
• Right now, Alex is training certain team members to get better at sales. He knows he’s not the best out there when it comes to this skill.
• So many times, we only look at the expense, but we need to look at the value.
• Remember, so few people consider how much time they have to spend re-training someone, over and over again, in order to get the job done right.
• A valuable team member adds to your bottom line.
• Are you setting your team up for success?
• When you feel like you have to micromanage your new hire, they are probably not a right fit for you.
• Be slow to hire and quick to fire.
• Alex is in the process of creating a small group coaching session. Contact him if you’re interested!

Mentioned in This Episode:

FlipEmpire.com

Ask Alex A Question:

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Ken Corsini left his corporate job and founded Georgia Residential Partners in 2005. Since then, he has bought over 500 properties. Ken is also the host of the Deal Farm podcast, where he interviews other industry experts on the subject of real estate. Find out how Ken got started, and why it’s so important for you to have a pulse on your local market cycles, to stay ahead of the curve.

Key Takeaways:

• Ken quit his well-paying job and joined the real estate industry in 2005. Little did he know that the market was going to crash two years later.
• In the beginning, Ken used the turnkey business model.
• What are some of the pitfalls of working with the turnkey model?
• Ken’s primary focus now is fix and flip.
• In order to be a successful real estate agent, you have to understand market cycles.
• The market cycles dictate your lead generation.
• Both Alex and Ken have found that they’ve needed to change their strategy over the years, as the market space has gotten more crowded.
• Instead of seeing other real estate investors as competition, he’s decided to join forces with newbie wholesalers.
• How big is Ken’s team?
• What kinds of tools does Ken use to help streamline his business?
• Follow up as often as you can!!!
• What advice would Ken give his 25-year-old self?
• If you’re not happy at your job, make a change!

Mentioned in This Episode:

FlipEmpire.com

Connect with Ken at Gainvesting.com and...

Dealfarm.net

The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results, by Gary W. Keller and Jay Papasan

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Alex likes to ramp up his marketing campaigns during the holidays, because he knows that’s when most businesses slow down. Yes, people do go on vacation during this time of year, but you never know who might be at home, willing to give you a call. Also, Alex answers Pedro’s question on this week’s show, about how to offer a flat fee to your transaction coordinator and where the best place is to find good talent.

Key Takeaways:

• Business tends to slow down this time of year, but not for the reasons you may think.
• Before the new year comes, set your goals! Figure what you want your lifestyle to be like, and then reverse engineer that.
• What’s inside the mind of a millionaire?
• Pedro asks, “How do you find a transaction coordinator willing to work for a flat fee?”
• The best team members come from your network.
• Have an abundance mindset.
• Alex doesn’t recommend you hire someone to wear more than one hat. It can get complicated.

Mentioned in This Episode:

FlipEmpire.com

How Rich People Think, by Steve Siebold

Rich Habits: The Daily Success Habits of Wealthy Individuals,
by Thomas C. Corley

The 4 Disciplines of Execution, by Sean Covey, Chris McChesney & Jim Huling

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Joe Fairless is the host of the Best Real Estate Investing Advice Ever Show and he controls over 54 million dollars’ worth of real estate. How has Joe been able to achieve such success in his business? Through the use of private investors. Find out how Joe approaches investors, and gets them to invest with him, on this week’s episode!

Key Takeaways:

• Speed of implementation is the difference between those who are successful, and those who are not.
• Joe controls over 54 million dollars’ worth of real estate.
• In the beginning, Joe knew people made money off single-family homes, but he wasn’t able to!
• Joe started learning about multi-family options.
• First: Get fully immersed in this industry. Second: Know how to run the numbers. Third: Identify 1-2 markets and why you like them.
• Joe describes what his investor list looks like. Email him if you want the template!
• When Joe approaches potential investors, what does that conversation sound like?
• What mistakes has Joe made when he was first starting out?
• What does Joe look for in a deal?
• What’s one piece of advice Joe would give his 25-year-old self?

Mentioned in This Episode:

FlipEmpire.com

Joefairless.com

Alex Pardo on the Best Real Estate Investing Advice Ever Show

Email Joe: Info@JoeFairless.com

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Alex walks you through the steps he and his team take when they’ve gotten a buyer under contract, and how his transaction coordinator handles and closes the deal. If you haven’t been following along, this episode is the final show in its four-part series, where Alex walks the audience through how his staff processes and closes a qualified lead.

Key Takeaways:

• Alex’s transaction coordinator has a checklist in the CRM system.
• Alex will get a title and lien search ordered, only after he’s gotten a contract signed by the buyer.
• Normally people get a title and lien search after the seller has signed the contract, but Alex explains why he waits for the buyer first.
• Make sure you’re in constant communication with the seller.
• If Alex knows a property has an issue, he will communicate that with the buyer and add that into the contract.
• When you’re first starting out, and wearing all the company’s hats, heads up — being a transaction coordinator is a full-time job.
• As the owner of your company, you should be able to take a look at what’s in the CRM, and know exactly what’s going on, and who is handling it.
• Alex discusses a time he worked with a seller who was a big ball of nerves. If he didn't have his transaction coordinator there to help walk the seller through the process, the deal would have never gone through.
• When you close the deal, try to get a video testimonial of the seller.

Mentioned in This Episode:

FlipEmpire.com

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Alex and Ramon Gonzalez continue their discussion on this week’s episode. If you missed it, listen to episode 54 to hear the first half of Ramon’s interview.  Ramon discusses what a typical deal looks like for him in his market, and also shares some super ninja pro-tips to help you increase profits on a badly damaged house.

Key Takeaways:

• Beware! This episode does have some bad language in it!
• What is Ramon currently doing to generate leads?
• Everybody’s got cash. What’s important is whether you can find a deal or not.
• Investors are used to paying, but you want to create a little frenzy among everyone, to get a quicker sale.
• Ramon shares an example of what a typical deal looks like for him.
• Remember, you’re in control.
• Does Ramon’s strategy only work for private sellers/homeowners?
• Ramon shares his super ninja strategy to increase profits on a destroyed house.
• Disclaimer! Remember neither Alex nor Ramon are CPAs or attorneys.
• What advice would Ramon give his 24-year-old self?
• Keep perspective, and don’t be afraid to take those risks.
• Anyone who tells you they haven’t lost money on deals is lying! Everyone has lost money.
• You have to work on and develop that positive mindset everyday!

Mentioned in This Episode:

FlipEmpire.com

Ramon.Gonzalez@SummitHB.com

Fastcashforhousesnow.com

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Alex briefly mentions that it’s important to have a vision for your life, but to not get too carried away in building a business that burns you out. Always aim to build a business that matches your desired lifestyle. He is also currently reading a lot of books about the habits of the wealthy, and he wants to remind the audience to not let too much information prevent you from taking action. On today’s Q&A, Alex continues his discussion on how he processes a lead, but this time, from the perspective of the sales manager.

Key Takeaways:

• When Alex takes a break from the grind, he does feel rejuvenated.
• What energizes you?
• You need to have a vision for your life, which means you need to make sure the business that you’re building matches that lifestyle.
• Right now Alex is reading books about the habits of the wealthy.
• Alex continues his conversation on how a lead gets processed.
• When you first start out, you will be wearing different hats, but remember that the goal is to delegate some of those duties to staff.
• Alex has a checklist in his CRM to keep things organized.
• The acquisitions manager introduces the sales manager to the client.
• When the sales manager has all the info together, Alex’s VA prepares a marketing campaign and sends it out to their cash buyers.
• A couple of days before Alex and his team do an open house, they will market it out to their list.
• Alex talks about the different ways he markets the property.
• Most of the time Alex is able to get a property sold in 24/48 hours.
• Always encourage feedback when talking to the buyer.
• Tune in to Episode 57 as Alex continues this conversation.

Mentioned in This Episode:

FlipEmpire.com

EP050: Listen to This One-On-One Coaching Call With Alex Pardo

EP051: How Does a Lead Get Processed? - Thursday’s Q&A Session

Flipempire.com/coaching

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Alex and Ramon Gonzalez go way back, and have been long-time friends. Alex offers a disclaimer that because of their long-lasting friendship, this episode has some offensive language in it that some might not approve of. Ramon has a lot of wisdom to share on today’s podcast episode, but his interview did run a little long. Alex has split up this interview up in a two part-series, so stay tuned next week for the final half of the episode!

Key Takeaways:

• Alex warns that this podcast episode has some offensive language.
• This show ran slightly over an hour, so Alex has broken it up in two parts.
• How did Alex and Ramon meet?
• The first deal Alex and Ramon made together was just a near-disaster.
• The industry has changed! Set realistic expectations because you will have to hustle HARD to get to where you want to go.
• How is Ramon separating himself from the competition?
• Right now the market in Miami is turning into a buyer’s market.
• Price is important, but motivation is more important when it comes to closing that deal. Why does the seller want to sell?
• Seasons happen, which means you can’t ignore what the market is telling you!
• How can people find out where they are in the market cycle?

Mentioned in This Episode:

FlipEmpire.com

Episode 34: Lee Kearney Tells You Everything You Need To Know About Market Cycles

Irr.com

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Alex has received a few questions on how his acquisitions manager handles a lead. During this quick Q&A show, Alex discusses the steps his acquisitions manager takes to build rapport with the client and get that deal closed and transferred to the sales manager.

Key Takeaways:

• Sorry if the audio quality isn’t good!
• Once the lead manager sets up an appointment, how does the acquisitions manager handle the lead?
• You have to get out of your comfort zone.
• Alex just got back from a real estate workshop.
• The new year is coming up, Use this time to see what conferences you want to attend next year.
• Okay, once you’ve gotten yourself outside of your comfort zone, what should you do when a quality lead comes through your door?
• Close deals on the phone vs. in person? Let’s test this.
• Alex tries to get the lead manager and acquisitions manager talking on the phone before the acquisitions manager meets with the client.
• When you go into an appointment, try your best to not talk about the deal during the first 10–15 minutes. Focus on building rapport instead.
• Remember, people do business with people they know, like, and trust.
• Walk your client through the process. Don’t assume they know how this works.

Mentioned in This Episode:

FlipEmpire.com

Banditsignonwheels.com

Ask Alex A Question:

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