Alex recently had to go through an exercise called “the unique genius zone,” and would like to share how it’s done with you today. This episode is going to be short and sweet, but Alex highly encourages you to reach out to your friends to help you complete this exercise.
Key Takeaways:
- Today’s episode is going to be about the “unique genius zone.”
- Are you struggling to find out what your strengths are?
- Get ready to send out an email to 12 friends and family.
- Alex details what you should be asking your friends and family.
- Once you’ve received 12 responses back, start highlighting what kind of characteristics/traits that keep coming up.
- This exercise has really helped Alex become more self-aware.
- God has given us some very special talents. It’s important we use them fully and purposefully.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@FlipEmpire.com
Ask Alex A Question:
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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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Matt Garabedian is located in the Fresno, California area, and has been in real estate for more than 10 years. He has done everything from fix & flip, wholesale, multi-family, and turn key rentals. Matt discusses what his business looks like today, some of his marketing strategies, and why adversity in your life is almost always a good thing, even though you might not see it that way at the time.
Key Takeaways:
- What does Matt’s business look like today?
- How does Matt usually get his deals?
- You have to — have to — track your results! If you don’t, you’re pouring your money down the drain.
- For every 50 conversations Matt has, he’ll get one deal.
- Matt went through a really tough time both on the business side of things, and in his personal life, that set him back on his goals.
- All of us have faced our fair share of adversity.
- What does Matt wish he’d learned sooner in this business?
- Matt offers some advice to business owners who might be afraid of their employees stealing their business/getting into business for themselves.
- Matt discusses some of his marketing tactics.
- What’s the one thing people need to know about direct mail?
- Matt recently acquired an 18-unit building. How did he do it?
- Remember, you’re one deal away from changing your life.
- What’s the one piece of advice Matt would give his younger self?
Mentioned in This Episode:
Flip Empire Private Facebook Group
Episode 102: Cris Chico Reveals The Formula for Hiring Rock Stars (and Building Your Real Estate Business)
Sell your homes without hassle at Fastcashcloser.com
Get in touch with Matt on Facebook
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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Alex discusses how he had left so much money on the table in the very beginning of his business because he did not hire the right people from the get-go. If you’re guy is going to be on the front lines and dealing directly with customers, then you want to thoroughly make sure he’s got some sales experience and has the right personality for the job.
Key Takeaways:
- Alex hired a lead manager, but he didn’t really have any sales experience on the phone.
- Alex used to cringe when he heard his lead manager on a call.
- So, when Alex switched his business model around, he let him go and put his acquisition manager on the phone instead. Alex immediately saw an increase in results.
- To be fair, Alex doesn’t advise you to be the one to personally close the deal on the phone.
- Be sure to check out the John Martinez interview on how to properly call the seller.
- It’s best to get face-to-face time with these sellers. Alex doesn’t recommend closing them on the phone. That doesn’t mean you should never do it, though.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@FlipEmpire.com
Episode 78: John Martinez on How To Get More Contracts and Close More Deals (Part 1)
Episode 80: John Martinez On Crushing It At The Homeowners House (Part 2)
Episode 111: Do You Have Accountability in Your Business?
Good to Great, by James C. Collins
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Chris Urso is the founder of URS Capital Partners, a real estate investment company that controls over $100 million dollars worth of apartments throughout the U.S.. This is one of the reasons why Chris is the perfect guest on today’s show to be talking about how you can get into commercial real estate and multi-family homes.
Key Takeaways:
- Have interest in commercial real estate? This is the episode for you.
- What does Chris’s business look like today?
- What attracted Chris to apartment buildings and multi-family properties?
- Chris believes multi-family is one of the most stable asset classes out there.
- What advice does Chris have for someone who wants to get into multi-family properties?
- What should you do if you’re in a hot market?
- If you’re already in the real estate game, then don’t make the mistake of starting too small.
- How many units should a first time investor focus on?
- Where does Chris find good multi-family deals?
- What kind of things does Chris do to build great relationships with brokers?
- When first developing these relationships, Chris would write down his elevator speech before making calls to brokers/other key players.
- Chris shares his thoughts on multi-family market trends, and where they’ll be going. in the next couple of years.
- Is passive income a myth?
- What kinds of returns does Chris typically get his investors?
- Chris offers some final pieces of advice for those newbies out there.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Get Access to Direct Investments at URSCapitalPartners.com
Rich Dad Poor Dad, by Robert Kiyosaki
Get in touch with Chris on Facebook
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!
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.
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Alex discusses how to keep yourself and your team accountable on this week’s show. If you’re not seeing the type of success in your business right now, or if you’ve experienced a drop in results, then today’s show is going to speak directly to you. Alex offers some advice on how you can keep the momentum going, and help your team keep improving themselves.
Key Takeaways:
- Do you have accountability in your business?
- What kind of metrics are you hitting? Are you reaching your target goal of phone calls, email sent, etc., everyday?
- What kind of accountability systems do you have in place for your team?
- Record your phone calls and use them as training material.
- Unrehearsed scripts makes you sound like a robot. With that said, you need scripts to give you a good framework on what to say/do with a client.
- Keep sending Alex your feedback about these shows. It makes them better!
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@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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Robert Syfert is the Owner and President of USA Portfolio Real Estate. In 14 months, Robert closed 200 deals all by himself. Robert was getting up at 6 a.m. and going to bed at 2 a.m. to make the dream happen, but he realized that that was no way to make a real living and shut it all down. Now, he has severely cut back on the amount of deals he makes each month and he also helps mentor real estate students on how they can create a successful business in this industry.
Key Takeaways:
- Who is Robert and what does his business look like today?
- Want to achieve success in both business and life? Have a vision for yourself.
- How does Robert lay out his vision for the future?
- What’s your end goal? What’s your why? You need to have these answers.
- How on earth did Robert do 200 deals in a 14-month period by himself?
- More volume can sometimes lead to more headaches. Robert realized that he wasn’t living, under such a rigorous schedule.
- What’s the number one thing that holds people back from making deals?
- Focus on one thing at a time! Focus is really the key to keeping yourself sane and motivated.
- What types of marketing strategies are working for Robert and his clients?
- Robert is currently beta testing putting a picture of the house on the direct mail pieces.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Millionaire Success Habits, by Dean Graziosi
7 Levels Deep Exercise from Dean Graziosi
Start With Why, by Simon Sinek
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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Alex discusses why it’s important to think bigger, and always have an eye towards the future. Although Alex loves wholesaling, Alex wants to get smarter about where he’ll invest his time and money in the next couple of years. Find out what his five-year game plan is, on this week’s show.
Key Takeaways:
- Alex got started in real estate in 2005.
- Start thinking bigger and have an eye towards the future.
- If you want to succeed at something, you have to jump into the pool.
- Does Alex want to be in the wholesaling business in the next 2-5 years?
- Alex WILL acquire 100 units by the end of 2018.
- Business right now is fantastic!
- Alex is looking to connect with Private Money Lenders. If you have any interest in lending private money, email Alex at alex@flipempire.com.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@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!
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.
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Paul Provencher has been in the real estate business since 2003. Today, he often averages between 3-5 deals in his business, and 100% of all his leads come from direct mail marketing campaigns. For everyone who says direct mail is dead, then it’s time to let Paul prove you wrong!
Key Takeaways:
- Who is Paul and what does his business look like today?
- Alex has been needing to spend more money on his direct mail campaigns. Is Paul seeing the same thing?
- Paul averages about 3-5 deals a month and the only thing he’s doing is direct mail.
- What’s Paul’s marketing budget?
- What’s Paul’s most profitable direct mail list?
- What research should people do when trying to understand their targeted market?
- What does Paul’s team look like today?
- How often does Paul follow up on his leads?
- Paul offers some final tips and advice for those who want to get a leg up on their real estate business.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Connect with Paul Here
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!
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.
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On this week’s episode, Alex shares some of the behind the scenes to his business. The month of May has generated record high profits and Alex discusses why this month has been so high for him and his team. It all started back in March when he set the expectation of how much money he wanted his business to make.
Key Takeaways:
- Thank you for sending in your emails! Someone messaged Alex recently thanking him for helping him close his first deal.
- May has been one of the best months ever for Alex’s business.
- Remember, we all fall down, but it’s about getting back up again. Make it count.
- In the month of January, Alex did not close a deal.
- In March, Alex challenged his team and set a financial expectation for the team to strive for.
- Total revenue for the month of May? $162,099.85. This was all from 4 deals. Alex spent around $1,800 in marketing.
- You guys can replicate these numbers!
- Two of the deals came from direct mail. The 3rd deal came from a cold call. The 4th deal came from a joint venture deal.
- Takeaway #1: You need to have a good mindset with money. You get what you expect.
- Takeaway #2: Set a goal.
- Takeaway #3: Get your hands on a specialty list.
- Takeaway #4: Follow up.
- Takeaway #5: Cold call your leads!
- Takeaway #6: Top of the mind awareness. Don’t just use one way to communicate.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@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!
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.
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Rick Ginn focuses on acquiring probate properties. Every probate property has a story to tell, and to be good in this industry, you have to be a mix between a therapist, a problem solver, and a good listener. The market is structured, and sending out direct mail no longer gives you that personal touch. Rick shares tips on how you can stand out in your market and get those deals going for you.
Key Takeaways:
- What does Rick’s business look like today?
- Alex reduced his team down from 7 to 4 and is doing more volume and profits.
- Want longevity in this business? Exercise some patience.
- Customers aren’t stupid. They have a lot of choices in the marketplace.
- Rick hires slow and fires fast. Rick spent 6 months training his acquisitions guy before he did any deals on his own.
- What kind of probate real estate is Rick focused on?
- If the numbers work, then don’t hesitate to take it.
- Rick wouldn’t touch direct mail in today’s market. It’s too saturated.
- What’s Rick’s marketing strategy? How does he get deals?
- Investors have gotten lazy. They don’t want to go out there and knock on doors.
- Remember, it takes time to get your systems set up. No one is an overnight success.
- If you’re the first to show up during a bidding, then you also want to make sure you’re leaving last.
- In today’s market, go in and solve problems that other people won’t. It makes you stand out. Real estate agents will only lift their finger to an extent.
- Rick talks about what he thinks about 3rd party lists. Hint: He doesn’t like them.
- Worried that you won’t be able to answer a seller’s question on the phone? Tell them you’ll get back to them with an answer! You don’t need to lie.
- Probate properties always have a story to tell.
- All you need is a cell phone, a pen and a pad, and the ability to go to your local courthouse. It’s really not that complicated!
- Try this industry out for 12 months. Be patient and keep working at it. When Rick was first starting out, he didn’t get a deal for the first couple of months.
- The great thing about probates is that it consistently remains the same. You don’t have to constantly reinvent the wheel.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Rick's Facebook Group: Flip with Rick
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!
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.
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On this week’s episode, Alex discusses how you can get bigger assignment fees on your deals. In order to get the right deals, you do have to set the expectation that you want to make more money. When you have the right mindset, and develop your lead conversion skills, you will get those higher-paying deals!
Key Takeaways:
- For the new beginners out there, Alex explains what wholesaling is.
- A property doesn’t have to be in distress for you to make a good deal on it.
- So, how do you get bigger assignment fees on your deals?
- You have to set the expectation that you are going to make more.
- Don’t settle for the average profit. The ceiling can always go higher.
- Alex used to make about 13k a deal. Now he makes 20k a deal.
- Don’t get complacent. If you’re in a hot market, reach for the sky.
- Aside from the mindset aspect of it all, what steps can you take to make more?
- Continue to get better at lead conversion and sales.
- Are you a motivated seller?
- Really get to know and understand your cash buyers.
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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.
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Alex invites Obi Dorsey onto the show to discuss how Meetup.com is working out for him. Obi is the Founder and Owner of Freedom REI, and has been in business for the last 3.5 years. Obi currently does about 12-16 deals a month, and has made some excellent connections through the meetup group he started just this year alone. Find out more on how Obi structures and markets the meetup, on this week’s show!
Key Takeaways:
- Who is Obi and how did he get started in real estate?
- The more you give, the more you get.
- Obi started his first meetup group on the website Meetup.com in January.
- Obi has been hosting a meetup once every month since then. His May meetup had 110 people attending.
- When Obi started the group, he just wanted to network and meet some people. However, he is deathly afraid of public speaking and it is still something he’s trying to get over.
- Obi was scared to start the group, which is good, because he knew he was stepping out of his comfort zone and going in the right direction.
- What results has Obi seen after hosting these 5 meetup groups so far?
- How do you start your own meetups?
- Start where you are. You don’t need a big fancy venue to start these events.
- How did Obi market the meetup? Word of mouth? Email?
- Obi makes a conscious effort to not make the meetup about him. It’s about meeting cool people who are doing cool things.
- How does Obi structure the meetups? Is there an agenda?
- How has Obi built a business where he’s able to consistently do 12-16 deals a month?
- You’re literally one deal away from changing your life.
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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.
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Alex received a question from Shane, who is currently running a direct mail probate campaign. How often should he follow up? Every direct mail campaign is different and certain markets require more follow-up than others. For this week’s show, Alex discusses what his sweet spot is when it comes to direct mail follow-ups and why sending just one campaign out is a waste of money!
Key Takeaways:
- Shane writes in and asks how often he should send follow-ups on his direct mail campaign.
- Response rates are down throughout the country.
- Despite this, Alex is still getting a lot of success out of his direct mail campaign. It’s in the middle of May, and he’s already got 6-figures in profits.
- A sweet spot for Alex when it comes to follow-up, is around 6 week intervals.
- Don’t wait three months to send a follow-up!
- Sending just one campaign is a waste of money. You have to be consistent with it.
- Keep sending your questions to Alex!
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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.
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Cris Chico is ready to kick off this episode and talk about why potential team members should take the Kolbe A Index Test before you hire them.
Cris is a close friend of Alex, return guest, and was actually the first person to be interviewed for Alex’s show! Cris doesn’t hire people unless they take the Kolbe Test because he needs to know both their strengths and weakness, and how well they’ll get along with the rest of the team.
Key Takeaways:
- Cris was the first guest to kick off the podcast, and now he’s back again 100+ episodes later!
- What is the Kolbe A Index Test about?
- Alex has made hiring mistakes and hired the wrong types of people for the job. Kolbe makes it easy to see straight away if a position fits naturally for the person being hired for the job.
- So much money is spent on training, and so having someone leave 5-6 months later really is a blow to your resources.
- Cris shares what his score is on Kolbe, and gives you an idea of what to expect from the test.
- None of the test results you get are bad. These results help give you a clear understanding of how you work.
- Cris shares why he’s a horrible salesperson, and what kind of results you should look for when hiring an acquisitions manager.
- When you understand how your team works on a fundamental level, you will also become a better and more relaxed boss.
- What’s the first step? Take the Kolbe test yourself.
- Cris discusses Kolbe scores for an admin, transaction coordinator, VA, and sales person, and helps give you a general idea of what you should look for in a team.
- Don’t be so hard on yourself. This test is not about fixing your weaknesses, it’s about understanding your MO.
- You can save yourself so much time and headaches just by this simple test.
- Cris will be launching a YouTube channel. Stay tuned for more info!
Mentioned in This Episode:
Episode 001: Thinking Outside of the Box and Using a Blind Approach to Marketing With Cris Chico
Take the Kolbe A Index Test Here
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!
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.
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Alex discusses the power of investing into relationships. Real estate investing is a people business, and the best way to get ahead is to be focused — genuinely focused — on serving others. How can you help the seller the best way you can? Do they need any additional help with the moving process? Little details go a long way in making you memorable and personable.
Key Takeaways:
- Remember, you’re in the people business. This means you need to invest in people!
- When you really care about people, more money comes to you.
- Where are you investing your time?
- Alex recently started sending gifts to the seller whenever he and his team close on a deal.
- You’re a problem solver. How can you help the seller the best way you can?
- It’s important to have a game plan and a well-thought out strategy on how you can best serve people with the time you have.
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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.
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Today, Alex is celebrating his 100th episode. Thank you so much for the support and feedback that you’ve given him over the last year. Alex wants to constantly over deliver, so please reach out and let him know your thoughts on how he can make the podcast better. Also, you can support the podcast by rating it on iTunes and sharing it to your friends and family!
Key Takeaways:
- This is the 100th podcast episode!!!
- This episode is focused on you. Thank you for listening.
- What’s Alex’s "WHY" for creating the podcast?
- Alex doesn’t want to get too complacent with the format. He is open to your feedback!
- We need to learn as entrepreneurs how to enjoy the journey as much as the destination.
- Alex is so grateful for the people he has in his life, and wants to keep serving you.
- Monetizing the podcast is not one of Alex’s goals.
- Again, thank you so much for being a listener of the show!
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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.
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Alex does a quick 10-minute episode to answer some questions about the importance of the follow up. He’s received a couple of messages about this on Facebook recently, and wants to bring home the message of why you can’t leave leads, even if they’re years old, alone and in the cold.
Key Takeaways:
- Reach out to other real estate investors, and not just the ones in your local market!
- If you have some people you already know, like, and trust, reach out to them and strike a JV partnership with them.
- You’ve gotta have a follow-up system in place. If you don’t, you’re leaving so much on the table.
- The follow-up system is just as important, or even more important, than the marketing.
- You can 2x to 5x your business, just by the follow up alone.
- Remember, if you like the show, please rate us on iTunes!
Mentioned in This Episode:
Flip Empire Private Facebook Group
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!
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!
Josh Jordan is fairly new to real estate investing, but he was able to successfully close 23 deals during his first year of business. Now, he’s traveling the world while he’s running his business, because he was able to set up some smart processes and hire the right talent. Find out how Josh gets his VA to do the heavily lifting!
Key Takeaways:
- How did Josh get started?
- How did Josh get so many deals so quickly in his first year?
- The best automation is a virtual assistant.
- Why do so many people struggle with finding the right VA?
- What did Josh do before hiring a VA, that helped the VA’s learning curve?
- Where can people find rock star VAs?
- Josh gives a quick outline of what his VA does for him in the business.
- Remember, whenever you’re hiring, you want to make the applicants jump through some hoops.
- What recommendations does Josh have on how to hire a good VA, and set them up for success?
Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Josh: BoomTownREI@Gmail.com
The 4-Hour Workweek by Timothy Ferriss
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Alex received a question on how he, and others, structure their day efficiently. This is a tough question to answer, because everybody has a different schedule, and what works for Alex may not work for you. The best way to find the schedule that works for you is to experiment! Write down your vision and how you’d like to design your business, and then focus on a lifestyle/schedule that matches it!
Key Takeaways:
- Alex’s new baby girl is about to be arriving soon!
- Are you getting the results you want?
- How do Alex and other successful real estate investors structure their day?
- If you’re aspiring to be at a certain level, find people that are doing what you want to be doing.
- What’s the vision that you have for your life and for your business?
- Get your vision down on paper!
- Every week experiment with different daily routines until you find something that works for you.
- Alex can tell you his routine, but it might not work for you and in your particular case!
- For example, Alex experimented between waking up at 4am and at 7am.
- Try to eliminate the feeling of always feeling busy, and focus your efforts on working efficiently, and smarter.
- Block off your time for your family, and then fit in the business tasks!
Mentioned in This Episode:
Flip Empire Private Facebook Group
Ask Alex A Question:
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Cory Boatright is the Founder and CEO of Real Estate Investing Profits. He has his own podcast and has bought and sold over $75 million dollars in real estate. Currently located in the Oklahoma area, Cory discusses how you can use the W.M.R.P (Worth, Market, Repairs, Profit) formula to your advantage and find those good deals. You can not afford to spend 10-20 minutes analyzing a lead. That’s way too much time!
Key Takeaways:
- Please leave a review on iTunes!
- Who is Cory and what does his business look like today?
- What is the W.M.R.P formula and how can it help you?
- Cory tries to build in about $10,000 worth of profit into every deal.
- Alex and Cory’s numbers are pretty similar despite being in different markets.
- Cory has a new software on the market to help users! It’s completely free! Cory shows a quick example of what you can do on HousePriceRobot.com by using one of Alex’s sold properties.
- The software was pretty much on-point to how much Alex sold the example property for.
- Alex changed his team this year to make at least $20,000 profit on every deal.
- So many people get hung up on analysis paralysis, but tools like this can quickly cut through that!
- You can’t spend 10-20 minutes per lead trying to analyze each opportunity.
- You want someone to sell you on the property.
- LISTENING to your seller is key!
- What are some quick tips to identifying somebody’s personality type?
- What’s currently working for Cory on a marketing perspective in his area?
Mentioned in This Episode:
Flip Empire Private Facebook Group
Realestateinvestingprofits.com
How to Win Friends and Influence People, by Dale Carnegie
Ask Alex A Question:
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Alex offers creative ways you can make money off of the current leads you already generate, to put that ‘extra’ money into your marketing budget. There are a ton of free solutions to generate leads, but it’s time to start working smarter, not harder.
Key Takeaways:
- Alex is nearing his 100th episode!
- Thank you for giving us feedback!
- How do you scale up your marketing when you don’t have the budget?
- There are lot of free options, but how can you work smarter, instead of harder?
- If you currently have leads, but they’re retail, you can send them to an aggressive real estate agent.
- Connect with agents, and let them know you’re selling pre-packed leads.
- Alex recently sold 10 leads for $500. Yes, not a lot of money, but you can use that towards your marketing budget!
- You don’t have to have the leads already in your system. Let them know you’ll send them leads, ‘as they come.’
- Network and get in touch with service providers who could use these leads. Roofers, plumbers, etc!
- Partner with other wholesalers in the area!
Mentioned in This Episode:
Flip Empire Private Facebook Group
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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Brian Trippe is based out of Birmingham, Alabama. When Brian was 28 years old, he was still living in his dad’s basement and was lazy! All he did was play video games, but shortly after, he got married, and knew he had to get a ‘real’ job. Brian stumbled into real estate, but he worked his butt off, and on his first deal he earned $10,000 net. Since then, he’s been hooked! If you want to take real estate seriously, you have to get off that couch!
Key Takeaways:
- How did Brian end up getting into real estate?
- Brian took a very, very expensive real estate course and ended up making $10,000 on his first deal.
- What advice would Brian have for those who are struggling to take action?
- Book smarts is a plus, but you learn the most from actually taking action.
- Brian spends a lot of money on real estate education, BUT he takes that info into practice.
- When you go into real estate investing, really focus on your end-game.
- You want to generate enough capital so you can go out and purchase your own assets.
- Brian talks about his real estate portfolio. He’s currently doing $10,000 net on his properties.
- Brian is closing 2-3 deals a month right now. What does his office look like?
- Surround yourself with great people you can trust. It’ll help you with a ton of headaches.
- How does Brian get ‘free’ lists?
- What advice would Brian give his 20-year-old self?
- So many people know the kind of work they have to put in, but they’re just not willing to do it.
- People do not change. The only way they do, though, is to go through tragedy or an awakening of some sort.
- Make today the day where you’re going to change, where you’re going to put in the work.
Mentioned in This Episode:
Flip Empire Private Facebook Group
Alareia.com
Email Brian: Info@Alareia.com
Ask Alex A Question:
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Alex discusses why it’s so easy to slip out of the ‘hustle’ mode when things are going well in the business. No one is immune to this! Alex has even done this himself. Business was going great, but because the real estate market has its ups and downs, Alex quickly saw that when he got complacent in his work, it began to also hurt the business.
Key Takeaways:
- Alex and his wife are getting ready to have their second child!
- When you’ve hit your stride in this market, it can be very easy to slack off, or even get complacent.
- Alex has been guilty in the past of doing this!
- The real estate industry is not immune to having some ups and downs.
- When things are going well for you, don’t slack off. You need to keep pressing forward!
- A couple of months ago, Alex had two sellers back out for almost no reason at all.
- Was Alex’s mindset just in a bad place?
Mentioned in This Episode:
Join our Facebook discussions via Flip Empire Private Facebook Group
Rob Swanson is a second-time return guest on the Flip Empire show. This week, Rob discusses how you can structure your deals in such a way, where you’re making not just short term cash flow, but mid- and long-term cash flow. Sometimes it does take a little of out-of-the-box thinking, but your future you will thank you for it!
Key Takeaways:
- Sometimes real estate investors get a little bit blinded towards achieving financial freedom.
- Did you know Rob loves to bake pies? Creative deal structuring is like baking a pie.
- The wholesaler who gets good creative deal structures will not only build short term cash, but also mid- and long-term cash flow.
- How do you build residual income while still wholesaling?
- Rob shares a quick example of how he was able to structure a deal that builds long-term cash flow.
- What is seller financing?
- Alex and Rob do some quick math on how much you’ll need to pay a seller.
- When Rob meets with a seller, he will often have two or three different options for them to choose from.
- Basically, Rob makes the seller into a bank. Instead of paying Wells Fargo once a month, the seller gets paid.
- Alex and Rob walk through another scenario. What happens when the seller wants more than initially offered?
- What kind of homeowners are more open to doing deals like this?
- You’re leaving so much money on the table, long term, if you’re not thinking about structuring your deals in this way.
- Not sure if you quite understood how to setup these deals just yet? Don’t worry, you can listen this show again, and sign up to Rob’s Freedom Blueprint waiting list.
Mentioned in This Episode:
[Brand New] Simple 3 Step System Get's Motivated Seller Leads In Under 9 Minutes (Step-by-Step)
Rob Swanson’s Freedom Blueprint
Episode 14: Rob Swanson — Painting the Bigger Picture for Your Real Estate Business
Tweetables:
“Who in your town has the nicest buildings? The bank.”
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Alex discusses the importance of scaling down; yes, DOWN, and not up. Over the last few months, Alex reduced his team from 8 to 5. By simplifying the process, and getting more focused, Alex has seen his sales increase! People often talk about the importance of scaling up (including Alex), but there’s a lot of power to taking a step back and scaling down, too.
Key Takeaways:
- Scaling your business is important, especially if you want to gain more time and financial freedom.
- When you can make your business into something that’s greater than you, that’s where the magics happens.
- Alex admits he made a rookie mistake right after the holidays in November.
- Because Alex took his foot off the gas on the marketing side of things, the year had a slow start.
- So, you know about scaling up, but sometimes you also need to scale down. Alex explains further.
- More isn’t always better.
Mentioned in This Episode:
Join our Facebook discussions via Flip Empire Private Facebook Group
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!
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!