The Flip Empire Show

Now displaying: January, 2017

EP070: What To Do When A Seller Decides To Default 0

Jan 30, 2017

Alex does not have a special guest for this week’s episode. However, he does have some great wisdom for you guys, as he just came back from a 2-day intensive mastermind. Masterminds are a great way to keep momentum going, and connect with highly-motivated achievers. This week’s topic dives into what happens when a seller suddenly decides they don’t want to sell the property anymore. What are your options?

Key Takeaways:

Don’t forget to check out the new Facebook Group! Please read the guidelines before you post.
Alex just got back from a pretty intense mastermind. The biggest takeaway? Keep things simple.
These events keep Alex inspired and juiced up!
Immerse yourself with high achievers.
Even though Alex has a new baby on the way, he still plans to attend these valuable events.
What does Alex do when an owner has suddenly decided they don’t want to sell?
Your job is to make things as easy as possible for the seller.
If you’re just getting started, don’t be afraid to seek expert help and spend the $300-500 it takes to do that. It’ll save you A LOT of headaches in the future!
If you begin to encounter problems, always work things out with the seller first.
If you can’t, then let them know you’ll have to bring lawyers in.
You always need to try and figure out why they had a sudden change of mind.
Let Alex know if you liked this type of episode!

Mentioned in This Episode:

FlipEmpire.com

Flip Empire Private Facebook Group

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EP069: What to Do with an Unmotivated Seller 0

Jan 26, 2017

So many of your deals will come from the follow-up. Alex cannot stress this enough! You need a strong follow-up system. Of course, it's also very hard to do deals, if you don't send offers, but make sure your marketing dollar gets stretched to the fullest potential by following up. If not, you're just leaving money on the table. Alex discusses on this episode the new changes he's implementing in his business when it comes to an unmotivated lead, and what he's doing to hopefully have it convert down the line.

Key Takeaways:

Be sure to listen to last week's show on the importance of online leads!
In episode 65, Alex spoke about why he made the switch from automated voicemail to answering the incoming calls live.
If you're in the real estate business, you're also in the marketing business.
Remember, 70-80% of Alex's deals happen from their follow-up system.
Alex is changing up his system a little bit, when it comes to those unmotivated leads.
Be sure to check out episode 52, which dives right into how to have an effective follow-up system.
Before you meet with a seller, check them out on Facebook, so you can build better rapport.
Send Alex your feedback! He'd love to hear from you.

Mentioned in This Episode:

FlipEmpire.com

Flip Empire Private Facebook Group

EP065: 24-Hour Recorded Voice System vs. Taking Calls Live

EP067: Not Doing Online Lead Generation? You’re Missing Out.

EP052: Focus on Your Follow-up System First, and Then Your Marketing.

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EP068: Scott Jelinek on Guerrilla Marketing Strategies for Under $100 0

Jan 23, 2017

Scott Jelinek has been a real estate investor for the last 20 years. He started his business with nearly no money and no plan, but has quickly scaled and grown his business to help match the lifestyle he wants. Today, he travels 12 weeks out of the year and makes around 3-5 deals a month.

Although it might not sound like a lot, Scott is still able to make around $19K on average with each deal. On this week's episode, Scott discusses why direct-mail marketing might not be the best option for someone who is just starting out, and opens the door towards cheaper guerrilla marketing strategies that anyone can implement.

Key Takeaways:

The theme for 2017 is simplification.
Alex just launched a private Facebook group! Feel free to join!
Alex wants to provide as much value as he possibly can!
Scott travels about 12 weeks a year now, and strictly wholesales his properties.
Scott is more focused on building a good life through his business.
What kind of marketing channels does Scott recommend to use if you're just starting out in this industry?
The cheapest marketing option is bandit signs! Scott hates them, but hey, they work.
What other marketing channels does Scott recommend for the newbie investor?
Give your prospects just one action to take. Too many options might paralyze them!
Definitely have different lines in the water to attract different types of clients.
What's a good balance between effective marketing through different channels? How can someone avoid getting overwhelmed by it all?
What kind of strategies or tactics are currently working with direct-mail marketing?
Be consistent! Stay in front of your prospects as much as possible!

Mentioned in This Episode:

FlipEmpire.com

Flip Empire Private Facebook Group

Connect with Scott at: Realestategrowthcoach.com

Ask Alex A Question:

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EP067: Not Doing Online Lead Generation? You’re Missing Out. 0

Jan 19, 2017

Alex appreciates your feedback! Based on your responses, you will be seeing more case studies in Thursday’s Q&A. Today, Alex dives in on why you shouldn’t be skeptical about online lead generation. Not all online leads suck! In fact, if you’re not working some sort of strategy out online, you’re really missing out on opportunities. Alex explains how he was able to turn a free online lead into a sale within 35 days, on this week’s episode!

Key Takeaways:

You spoke and Alex listened! Stayed tune for more client case studies.
Facebook can be misleading sometimes. People always show the checks, but never talk about the struggle.
There are so many lessons to learn, by listening to what people have had to overcome.
Today, Alex will be talking about a deal he closed on December 15th.
Regardless of the size of your marketing budget, you should always be doing online lead generation.
Skeptical about online leads? Here’s why you shouldn't be.
Alex dives into what exactly he did to get this (free!) online lead into a sale.
He also closed this deal in 35 days from start to finish.
With that being said, Alex’s VA did have to generate 100s of leads before they were able to find this motivated seller.
It does not hurt to get someone on your team to help you generate leads from this avenue.
Okay, let’s get started! Alex explains what’s in their Google Docs spreadsheet and how it’s laid out.
Make sure you ask in your email if you’re speaking with the owner of the property.
Put a unique phone number, so you can track where your lead came from.
It was on the 2nd or 3rd text message/email followup, when this particular homeowner responded.
On a daily basis, start generating leads. Start contacting people!
Work on your online lead generation, ASAP.

Mentioned in This Episode:

FlipEmpire.com

Owners.com

Gosection8.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 your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!

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EP066: Chris Bruce Finds Creative Ways to Get Leads for FREE 0

Jan 16, 2017

Chris Bruce is a real estate investor, and the podcast host of Escape The REI Newbie Zone, a show all about how newbies can break through and enter the real estate investing industry. On this week’s episode, Chris discusses ways you can get leads for free, especially when you have a low-to-no marketing budget, whatsoever.

Key Takeaways:

What advice does Chris have for people who are just starting out, and do not have a big marketing budget on hand?
Put out ads looking for bird dogs.
If you put an ad on looking for bird dogs, make sure you have training in place to teach them what they should be looking for.
Put a video of the kinds of properties you are looking for, in the ad.
If you already have people scouting for you, you can also get them to put a post-it sign, or some sort of note, into the mailbox of some of these homeowners.
Chris likes to run a skip trace on the property and then contact any family members that pop up. They want to get a warm introduction from their family member first.
Alex noticed that most of the deals he was closing were with homeowners above the age of 50.
Instead of throwing away your returned mail, run a skip trace on them.
What’s Chris’s process when he runs a skip trace?
Afraid of cold calling? Don’t be! You’re trying to help these people out. Don’t look at it as a cold call — look at it as a conversation.
If you’re doing a direct-mail campaign, be sure you have enough money to do four touches. If you can’t re-mail people every 60-90 days, then don’t commit to the campaign.
Small budget? Target a niched list.
What advice does Chris have for his 22-year-old self?
It’s a cool thing to be an entrepreneur these days, but you need to have thick skin, in order to make it.

Mentioned in This Episode:

FlipEmpire.com

Connect with Chris Bruce at: www.escapethenewbiezone.com

Craigslist.com

Microbilt.com

Tlo.com

Rich Dad Poor Dad: (What the Rich Teach Their Kids About Money — That the Poor and Middle Class Do Not!), by Robert Kiyosaki

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich, by Tim Ferriss

The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, by Michael E. Gerber

Ask Alex A Question:

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EP065: 24-Hour Recorded Voice System vs. Taking Calls Live 0

Jan 12, 2017

Someone asked Alex whether keeping their 24-hour recorded voice system was still a smart thing to do. After reading this question, Alex immediately got onto Facebook Live to answer it. Alex has seen tremendous results from switching out his recorded voice system to having a real person take the calls live. Don’t leave money on the table like he did!

Key Takeaways:

Q: Should we still be using a 24-hour recorded voice system, like Freedom Voice, to have homeowners leave messages to?
Alex switched up his system, and started taking calls live.
You can 3x-4x your results, just by implementing this one thing.
If you’re working solo, then this is a position you might want to hire out.
FYI, you should not go for the sale on the phone. You do want to meet with the homeowner/buyer/seller in person.
When you’re on the phone with a prospect, find out what their motivations are, and whether this person is the right fit for you.
Call the people who have hung up back!
Following up in this way also gives you an excellent opportunity to work with other wholesalers in the area.

Mentioned in This Episode:

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 your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!

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EP064: Raul Bolufe Shares How He's Closing 5-7 Deals a Month at 23 Years Old 0

Jan 9, 2017

Raul Bolufe is a 23-year-old real estate investor who has slowly been growing his company for the last two years, in the South Florida area. He has already flipped $15 million worth of real estate since the start of his investment career, and shares some of the starter tips that allowed him to make such a big impact from the get-go, on today’s show.

Key Takeaways:

How did Raul get started in this business?
When did Raul decide to get a mentor?
Alex would have saved so much money if he had hired a mentor right from the get-go.
Raul averages between 5-7 deals a month.
It’s getting harder to come across good deals these days.
Alex and Raul are spending more on marketing these days, than they did years before.
What kind of rapid growth has Raul seen from his business, so far?
What kind of direct mail is Raul sending his absentee list?
Make sure you have campaigns going out every week.
You will need a CRM system!
What’s Raul’s follow-up system look like?
What’s does a soft offer consist of? How is it structured?
You gotta meet your hot leads in person.
Not everybody on your team will be motivated by money.
Raul talks about his success with the MLS (and shares how you can duplicate his process).
The MLS is not the most difficult thing, but it is a different animal.
Alex shares a fire-under-the-ass tip on how you can take action.

Mentioned in This Episode:

FlipEmpire.com

Episode 1: Thinking Outside of the Box and Using a Blind Approach to Marketing With Cris Chico

Get the Weird Postcard Generates 300% to 500% More Seller Leads

Connect with Raul at Capitalriseinvestments.com

The ONE Thing, by Gary W. Keller

Ask Alex A Question:

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EP063: Make Sure You Avoid This Critical Mistake in Marketing 0

Jan 5, 2017

Alex talks about the same client he spoke about on last week’s Q&A show, the one who decided to pay for a cheaper VA. Because of this discussion, Alex’s client is now overwhelmed with other additional tasks and doesn’t want to spend money in critical areas, like marketing, until she can close a deal. Alex explains why this is a mistake, especially in real estate!

Key Takeaways:

Alex continues his discussion from last week’s Q&A episode and talks about one of his clients who was struggling with a bad VA hire.
Alex’s client was overwhelmed, so she had to stop marketing in order to keep up with the leads. Mistake!
Alex told her to focus on 10 specific zip codes, but it was a catch 22, because she wanted to get a lead in before spending more money.
We’re all guilty of this behavior, but this is why you need to change your mindset.
Learn from Alex’s mistakes.
Your business dies if your marketing gets stopped.
The problem here is you don’t know whether the leads you currently have will work out for you. This is why you need more coming in, just in case!
Sometimes Alex doesn’t close a deal until 3-4 months later.
The good news is, Alex’s client listened to him and now she’s getting it done! Crisis averted!
The x amount of money you’re spending on your marketing budget, comes back to you 10x, 20x, and sometimes 50x.
Ran out of capital to run your marketing campaign? Then it’s time to knock on doors and hustle. There’s always something you can do to drive leads!!!
Do you want to hear more client case study calls? Let Alex know!

Mentioned in This Episode:

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 your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!

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EP062: Doug Fath Reveals How to Approach and Handle Skeptical Private Money Lenders 0

Jan 2, 2017

Doug Fath first got involved in real estate when he was a broke college student. So, what does a young broke guy interested in real estate do? He approached private money lenders, to help him get started. Because of this experience during his early days, he shares some practical tips on how you can get out there with no financial means, and get those private lenders on your side.

Key Takeaways:

How did Doug get started in real estate?
How did Doug get involved with private money lenders? How did he go about making those connections?
Doug offers some practical steps on how you can raise private money.
You have to go to real-estate-related events!
Don’t be afraid to ask questions at these events. Get to know the person.
How does Doug pay back his investors? How does he set that up?
What kind of objections has Doug received in the past?
What is the one piece of advice Doug would give to his 20-year-old self?

Mentioned in This Episode:

FlipEmpire.com

Connect with Doug at Legacycapitalpa.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 your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!

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