Epic Real Estate Investing - Breaking Barriers, Skip Tracing, Mike Singletary | 1107

Episode Date: December 17, 2020

With the actions that you are taking are you really trying to get a deal OR you are trying to see how little is required to get a deal done? If you have this doubt, land an ear, as Matt Theriault reveals how to break barriers on your real estate investing journey and put a deal under contract! Furthermore, in the second half of the episode, Matt is joined with Mike Singletary a skip tracing expert who helps real estate investors find and contact motivated sellers! Tune in and find out more! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-A's.com.

Here's Matt. Hey there, Epic Investor. It's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. And this is the Epic Real Estate Investing Show. And if this is your first time here, really glad that you found us. If you like what you hear, make sure you hit the subscribe button before you go. And if this is not your first time here, welcome back. And thank you.

Thank you for sharing this with your friends and family. I love that so much about you. I really appreciate the support of the show. Today, just seven shopping days left before Christmas, by the way. So let's get that done. Can you believe it? I can't believe it. You know, when as a kid, it'd take forever for Christmas to get here, wouldn't it?

But as an adult, it really sneaks up on you. But anyway, today, if you've been struggling with your real estate investing and you feel like you're doing all the right stuff, I've got something special for you. Plus, if you've heard of skip tracing, but not quite sure what it is and why you need to know, or if you've been skip tracing and you're dissatisfied with the data that you've been getting, I got a great guess for you as well. It's going to give you a nice new resource that can really transform your business. But first, in the news, for those of you that have been waiting to hit that 2017 Bitcoin high again of 20,000, its previous high, things like just barely

20,000, 19, something like that. We busted through that today. Just about to, uh, bust through 22,000 as of this recording, but we know how that works. It goes up and down pretty quickly. But this time around, it feels a little different because it's just kind of moving up, inching up slowly, slowly, slowly. It hasn't been that meteoric, mediocre, no, meteoric rise that it was back in 2017, that big kind of bubble feeling. But this seems like it's just kind of growing really nice and gradually. And there's a second big whale that just joined the Bitcoin or the cryptocurrency craze. I think it was Bitcoin specifically.

And that's kind of what's responsible for this big boom. Where was it? There we go. Billion dollar Bitcoin whale surfaces as price breaks all time high. So that was early this morning. And if you're listening to this on the day that this is released, that would have been yesterday for you. But who was it?

Eric Peter, CEO of One River Asset. management revealed today that his fund will soon have one billion dollars in Bitcoin and Ethereum coin. So just the big dogs continue one after another to come into this Bitcoin space, people with a whole lot of money. I mean, billion with a B. And so I think it's starting to give this thing some validity. I listened to the, ah, what's the name of his show?

I think it's called Level Up. Names Eric Sue. I listened to his show. And I might have said this last week. I don't know if I said this last week or not. No, I think I just listened to this. So he just put half of his company's cash into Bitcoin. And I'm hearing more and more stories like that.

But the big dogs are doing it like JP Morgan and Citibank. And now these two big venture capitalist investors putting billions of dollars into it. So I think it's going to be coming the real deal. Anyway, I'm not sure if this is the big moment we've been waiting for or not. but that's where we're at right now. And again, I'm talking about it more just because I have some in there. I've got no clue as to what I'm doing. This is not advice.

I'm not saying you should go do it. But if you got a few hundred bucks that you don't mind losing, you know, maybe since Vegas is essentially closed down, you put some money on this. Just put some extra money in there about two years ago. And I've just been watching it grow ever since. And their predictions are going to be 10 times what it is right now. I listen to the Mike Dillard podcast as well.

I listen to a lot of podcasts while I'm working out. And he's really bullish on it. Bullish. I would get the bull and the bear mixed up. He's really positive about it. And I think it's going to be one coin. He's thinking it'll be like $200,000 by the end of 2022. That's 10 times what he is right now.

And he's really kind of advocating that says, you know, the last chance to just create some generational wealth for yourself. But then he also all again. acknowledges that it's a huge risk too, so don't put any more than you're willing to lose. All righty, so that's it for that. The first COVID vaccine sent out this week, most states are expected to follow CDC guidance and vaccinate the health care workers and the staff and the residents of long-term care facilities.

They're all getting at first. And then next week, CVS and Walgreens pharmacists will begin vaccinations at 75,000 long-term care facilities in most parts of the country. And it's a process that CVS estimates will take nine to 12 weeks. Now, one thing that I just learned as I was preparing for this show, that the vaccine requires two shots a month apart. So you've got to get the shot twice and one month apart. So officials are saving the second half of the 6.4 million doses planned

for the first wave to send out in a few weeks. All righty, so hopefully we are on the back end of this thing. Hopefully this is the light of the tunnel. Hopefully it is the beginning of the end. Boy, we're all over it, aren't we? But anyway, I guess that's relatively good news. Looks like Hunter Biden's dirty dealings have some real teeth. Not good news for him, as the FBI and DOJ have been investigating him since 2018.

But, you know, funny how that was disinformation, Russian disinformation before the election. but after the election, now it's all real. But it's funny, you had links to such information accounts were banned on Twitter and Facebook that shared this information. But now after the election, it's okay. And the media is starting to discuss, albeit very softly and quietly. But MSNBC and NBC, the Wall Street Journal is really asking for some answers. So that's all kind of good news. But you've got CNN still relatively mums a word.

They've got to be going out of business, right? I mean, now that Trump's out of office or will be out of office here shortly, what are they going to talk about? Like there's no reason for anyone to even tune in. They just every single story revolves around. They can't do a single story without mentioning his name. And what are they going to talk about? I mean, they've got this other, just small little story.

that they could talk about, this House Representative Eric Swalwell and his dealings with the Chinese spy happens to be on the Intel Committee. There's a nice story there, but nope, you won't find that over at CNN either. Anyway, moving on. Apple will now show nutrition-like privacy labels that provide more info on the user data that's collected by apps, so they're going to become a little bit more transparent on what they're collecting about you if you're using their products. And then a legendary investor, we've all heard of him.

Warren Buffett urged Congress to pass legislation to help small businesses stay afloat. Ain't that needed? Like, that could be one of the most important things that our government should focus on. But no, we're going to focus on changing the name of the Cleveland Indians, because that's going to have an impact. Anyway, Buffett called the situation facing mom and pop an economic war and labeled small businesses collateral damage in a war that our country needed to fight. And he called Congress to extend the Paycheck Protection Program on a large scale. I think we can all agree that the cure has been worse than the virus.

It was funny how that became a political statement. And if you said that, everyone knew whose side you were on and they either agreed or disagreed with that statement. But step back, politics aside, there are many more lives been impacted by the cure than the virus. And sadly, and I'm not discounting death by any means, and there have been a lot of people that have died. But you start hearing stats like this.

less than 50 people, 50 children between the age of 5 and 15 have died from the virus. But almost 600 kids in that same age bracket have committed suicide since we've been in, the pandemic has been here. I mean, that's 50 compared to 11 times. There's a stat this last week, or it was for the last month. those for November in Japan. There are more people committed suicide in Japan in the month of November than the virus has taken the entire time

that the virus has been here in Japan. More people died from suicide in November than the virus has killed altogether in Japan. So the cure is, the shutdowns and the lockdowns are taken their toll. Even the World Health Organization has officially stated as such that the lockdowns are unnecessary and causing more damage than necessary to combat this thing. But most of our leaders are listening to that other science, wherever that other science is. I haven't found that other science, but the World Health Organization, regardless of what you think about them and the CDC, regardless of what you think about them,

they seem like they still got a little bit of logic left in their organization. But our leaders, they're not listening. They're listening to somebody else's science. We haven't found them science yet. Anyway, it's just so upsetting, you know? I know so many people. I belong to so many different masterminds and have belonged to masterminds over the years and have created and developed so many relationships of people of business owners,

of countless industries. I mean, I know people that have just run businesses, all kinds of different businesses. And they've just all been devastated. They're all just been reduced to rubble, reduced to nothing, you know, and they need help. And we've got to turn this thing around. So I really like seeing that someone like Warren Buffett

is stepping up and not politicizing it and just focusing on the lives. Because not only is it their lives, that this is having an impact on, but it's small business that runs and causes this economy to run, is what I was trying to say. You know, during the Great Depression,

and actually before the Great Depression as this country was developing, it wouldn't have developed without small business. It just wouldn't. There wouldn't have been an economy to run. That's how important and vital it is. So I just hope people start waking up and at least the people

that have the ability to do anything about it. start making some changes. Moving on. I'm sorry, I get a little emotional about that one. Being a small business owner myself and having employees and just being grateful that we've been able to pull through this with minimal damage on our end with regard to our company structure, our infrastructure, and our employees.

It's just something very close to my heart. Anyway, McKenzie Scott, the billionaire ex-wife of Jeff Bezos, disclosed that she donated $4.2 billion to nonprofits it's over the past four months, so good for her. The FDA said Moderna's COVID-19 vaccine was effective and safe in a detailed analysis released yesterday. So it could be approved later this week, so we could have two vaccines out there,

so hopefully that will speed things up. The FDA also granted emergency approval for the first over-the-counter COVID-19 test that doesn't need a prescription. And then I'm going to need some help with this. You might know him as the Greek freak. His name is Giannis Antocombo. It's a Greek name. It's a lot of consonants in that name.

But congrats to him. He signed the Supermax extension with the Milwaukee Bucks for $228.2 million. The largest contract in NBA history. So congrats to him. And then the NBA preseason is actually underway. Did you know this? I wouldn't have known unless I accidentally read it preparing for this episode. I'm really ready to get back to a regular life where that would have been news and it would have been common knowledge or at least amongst sports fans.

All right. Moving on in real estate. Have you ever felt like you're doing everything right, but the leads aren't just coming in and those that you're talking to just aren't motivated enough to do a deal? And maybe it's been a while since you've closed your last deal. You're on a little bit of a slump and you're scratching your head. You're wondering why. Or maybe you're just still looking for your first one. You know, there's a lot of different places that you could be in.

It can be a frustrating business at times. And particularly when there's so much other stuff going on, it's kind of easy to point to other things and blame it on other things. And then or just having an amazing amount of uncertainty around your business, not really knowing why you are or aren't getting the results that you're getting. But we've had some major breakthroughs here at Epic over the years, over the last decade, 11 years, I guess, now that we've been helping people invest in real estate.

And we've had some of these big breakthroughs and helping people reach their real estate investing dreams. But for whatever reason, it seems like if I look back in hindsight as it's so clear that way, every time we experience a breakthrough and we put tons of new names, we got this big flurry of new names up on our wall of profits.

If you want to check that out, you can at wallofprofits.com. You can see all the amazing stories over the years. But for some reason, after we experience this influx of breakthroughs, then we kind of plateau again. And I can't really figure that out. You know, when we put up the Epic Pro Academy, I was really thinking, based on where I learned to invest,

it was this investing college. I've talked about it here a little bit over the years. Nouveau Rish, I don't know if you ever heard about it. They didn't have the greatest reputation. I don't know, and I don't know why totally. The owners were kind of little swindily, and they don't have the best reputation. but I thought the organization or at least the education that the organization put out was exceptional.

I mean, it was just like some, it was just amazing. Every time I'd go there, it would be once a quarter we'd meet in Glendale, Arizona. You have, I don't know, 3,000, 4,000 students at a time would converge on Glendale, Arizona to learn about real estate investing. It was just great. But they had so many different courses going on. You couldn't attend them all. That's why you had to go back so many times. It was over a two-year period.

But you'd sit in these big rooms and, you'd sit in these big rooms. and you just take in all this information, and you get home and you'd be all stuck like, oh gosh, what do I do? So it was great information, but what I always thought they were lacking was like a step-by-step process. So I was like,

as we were moving into starting our own education after a few years after I left there, and, you know, and I went out and did my rat race escape, and everybody wanted to know how I did it, at least my friends and family and network. So I started this Epic Pro Academy, and I was like, this is what I'm going to do differently. This is what I wish I had,

was I wish they would have put this like in a step-by-step format. So that's what I did. And right away, we opened the doors and we created some amazing case studies and some amazing success stories. And I even made some really good friends in that phase of our business. We kind of hit a little bit of a plateau. And so we started doing one-on-one coaching, or at least I did. And we generated a bunch more new successful case studies and kind of hit a little plateau

after that for a little while. and then we introduced our follow-through crew and the group coaching and kind of added a community element to it and experienced that breakthrough again. And then we were kind of in a law for a while. We were like, gosh, what are we going to do next? And so we did a little survey of our students to find out why people had started and stopped, like what was really going on. And it turned out like we started introducing so much cool stuff and technology and systems

and just all the little tricks and stuff that we were collecting. and gathering both from my business and our successful students business. We were putting all that stuff inside the academy. And it turned out people were just getting stuck, setting stuff up. They'd get stuck setting up their phone system or stuck setting up their website or they didn't know if should I do an LLC or should I do an S-Corp, who should I talk to. And, you know, they were really busy, but they'd get burnt out on all this busy stuff and never actually made it to the real estate stuff.

So William, who worked here at the time, and Miguel, who still works here, we kind of got together, gosh, if we're going to continue to coach people in any good conscience, we got to get them closer to the goal line. We got to get that stuff out of their way. And we know just by the human beings and human nature, there's going to be a certain percentage of people that give it a go and fail, so to speak, or quit. But how can we increase that percentage? Well, if they're going to quit, let's make sure that those that do quit get burnt out on real estate stuff and not setting up website stuff. So that's why the RAE's program came into. It was like, well, we have it all set up for our own business already.

Let's just copy and paste ours and give that to our coaching clients that way. And that was a huge breakthrough. That's just like, we've probably multiplied our success stories by five or six times in about an 18-month period. and that was exceptional. I was like, we just kept on moving on, moving on, moving on. And I wouldn't, I mean, we're still producing great success stories. That's a great program. And it shows people how to move to build a business out of real estate.

It helps them make that transition from their day job. We have several people now that have created enough passive income to where they don't have to even do real estate anymore. I mean, Josh Miller is a great example. He did so much business inside of those 13, 14, first 13, 14 months that he retired from real estate. went to go start his software company. So we've got a bunch of stuff. We got the Enrique in Los Angeles. You know, he bought a few properties from Cashflow Savvy

and then we decided he wanted to do it himself. And after that. And we struggled a little bit. It took us a minute. But, you know, he was stuck with it. He was determined. He was persistent, which I totally admire about him. And just like it always happens,

if you are consistent with those activities, you will get the results. And he came across the right seller. who had a little package of properties for sale. He's able to arrange seller financing for them all. And with that one transaction, was able to create enough passive income to leave his job. He hasn't left his job, but he has that option to now.

So those stories, those keep coming, right? But I'm a little bit like antsy and impatient. I want more. I want more. And so I was checking with all the people in the RIAs program that weren't getting the results or not getting the results that they wanted and seeing what they were breaking down.

And so it inspired this most recent breakthrough, the Legends Challenge. I started out calling it the 10-day challenge. I just felt like it needed a sexier name. So we called it the Legends Challenge because we're going to create legends out of this program is what I was determined to do. And I don't see this one hitting a plateau.

It's still young, still new, so I guess it remains to be seen, but I don't see it hitting a plateau. And real quickly, the difference between this, this in like RIAEAS for example. And perhaps we should have done this before RIAs. I think they just kind of came out of sequence.

But the legend's challenge, it shows you how to make money, right? And make money quickly. I mean, it's a 10-day challenge. And like I said, we probably got that a little bit out of a sequence. But then RIAEAS, well, once you know how to make money in real estate,

RIAEAS is kind of there to take that money you're making and then turn that into a business and then systemize it and create more efficiencies. and create some consistency around it, and consistency around it, just make it a real business. So that's kind of the difference between the two.

Anyway, whether you join us for the next one, which will kick off January 5th or not, I want to give you the big breakthrough that you can apply to your own efforts, whether you do it with us or you do it on your own. And why the Legends Challenge has become like kind of my favorite little program now, my favorite thing to do.

And I'm going to do it every month now, moving forward. at least until something better comes along. But I'm really enjoying it. I'm really enjoying taking the journey with people and being hands on with them, allowing them to look over my shoulder and watch me do what I do.

But that's not really where the breakthrough comes through. GERB comes in. It comes in this discovery around this magical word, and it might mean absolutely nothing to you, but stick with me. And that magical word is intention. And what I mean by that is, you know, you can do the activity,

And I've professed that for a very long time. You just do the right activities, do them consistently, do them with persistence, and you're going to get the results. Right. But there's another element that is absolutely essential to that, to have the intention behind those activities, because you can go through the motions, right? You can go through those motions.

You can do the activities. But if they aren't backed by the right intention, you're much less likely to get the results that you're looking for. As an example, one of my RIAs participants several months ago, I won't mention her name. but she had me up privately looking for help and we laid out everything that she had been doing on the table to see where it was breaking down for her right and they she was you know she was doing some she was doing some marketing she was returning some phone calls she was setting a few

appointments she tried to negotiate a few deals but after I don't know about eight months or so no deal yet. Nothing at that time. And so she had heard me here on the podcast talking about how I was sending out signed offers in the mail. So she tried that and still no deal. So based on what I just shared with you, it sounds like, okay, well, she appears to be doing all the right activities, but she's still got no deal. What's wrong? And she's brand new, by the way. I mean, she's starting from scratch. And as I always say, in the beginning, what you lack in skill, you're going to have to make up in volume. And the better you get, the less volume you'll have to do. So that was number one. She just needed to do more volume, right? She dibbled and dabbled. What's the word I'm looking

for it? But she had dabbled here and there and she'd done some stuff, but she just didn't do it enough and she didn't do it consistently. But she was doing all the right activities. But going through that and I noticed that and I pointed that out to her and she agreed. But what I really noticed was her intent. You see, it was becoming evident that she was more interested in doing the activities to demonstrate that she was doing the activities. But there wasn't any real intent in getting a deal done. Those are two different intentions, right? You can do the activities because your intent is to do the activities or you can do the activities with the intent to get the deal done. It's kind of like going to school, right? If you remember going to school and you had a test coming up and you just wanted to

pass the test. So you did everything you could to take that test and pass it. But there was no real intention or no interest in actually learning the information. What's going to get me a passing grade so I can move on? Not, ooh, I want to learn about this stuff so I remember it. Two totally different intentions. And all the kids were in the classroom, right? Taking the test. They're all doing the right activities. They got the pencil in their hand, the paper on the desk. They're filling in the little scantron or whatever that, do they even use scantrons anymore? I don't know. But they're filling in the little bubbles. They're answering all the questions. So they all look the same. You had a classroom with 30, 40 kids. They all look like they're doing

the same activity. But the intention behind that activity is very different. And so what I started to notice was there are the money making activities, but within those activities, there's a hierarchy of sorts that I now call the hierarchy of intentions. And here's what I mean. You've heard me say this. It's a people business, right? Every piece of real estate you buy ourselves is going to be firmer to another person. You have to deal with people. You have to talk to people. And so if you hear me say that and you could be like, okay, great, I'm going to go talk to people. And you can go talk to people and do no business. And you're like, oh, what does this people business mean? I'm talking to people. I'm not doing any business. So you could take it to the next level. You go,

you could ask that those people that you're talking to, do you actually want to sell your property? And if they said no, then you'd stop, right? You didn't ask for a referral. You didn't ask if they knew of anybody else that might want to sell. You didn't ask if they had any other properties to sell. Because that's a low intention of doing business if you skip all of that. Or let me give you, let's do a different example.

For example, let's see. Okay. So I mailed a bunch of offers. Okay. And none of them came back. I'll just put myself in this example. And none of them came back signed. And I was like, okay, well, that didn't work.

Well, that was a very low intention of just putting blind offers in the mail and none came back signed and saying, okay, that doesn't work. But a higher level of intention for me could have been calling each person first before mailing the offer. That would have been a higher intention. I wanted to make contact with them and say, hey, I'm putting an offer in the mail to you, look out for it and call me. That could have been, that's a higher level of intention. Or an even higher intention could be calling each person first, mailing the offer, and then

following up after they receive the offer. That's a higher intention of getting a deal done. Or an even higher intention would be calling each person first, mailing the offer, following up with a phone call after they receive their offer, and then calling each month, putting it in my calendar to call them each month to see if anything had changed if they wanted to sell then. And then I could have put them in on a drip campaign with email. I could have put them on a drip campaign with a postcard.

I could have put them on a drip campaign with a text broadcast. Then also with a ringless voicemail. It's kind of like what we do with the RIA ACE program. But that's a higher intention, right? I have a greater intention of doing a deal, so I'm going to contact them in as many ways and as often as I can without being a total pest. So if you wanted to elevate that even more, what could you do? Right?

So I've got all this stuff going on. I'm making the phone calls. I'm mailing. It's an offer. It's a signed offer. I've got a self-address stamped envelope inside. If you like one of these offers, sign it, send it back to me. I'm following up with another phone call.

I'm sending text messages and emails and postcards and ringless voicemails. it's all automated, it's all systemized, it's hitting them every single month in multiple different ways. What else could I do? Think about it. What else could I do? Because that's a lot, right? I'm throwing the kitchen sink at this person or this list, this group of people.

So the normal response would be, well, I don't know. Maybe you're sitting there waiting for the answer, right? Okay, Matt, what else could you have done? Sounds like you did everything. But think of it this way. if your family's life was on the line, if you didn't do a deal, would your answer still be, I don't know, and then I did it all and just let your family die? It's a confrontational question, isn't it?

It's like, how dare you, Matt? Talk about my dying family. I'm not talking about your dying family. It's hypothetical, of course. but if I ask you under one context, what else could you do? And you're like, well, I don't know. But if your family's life was on the line and I asked you that same question under a different context, would your answer still be, I don't know?

Say, well, I'm sorry. Guess my family's out of luck. Of course not. No. You might start introducing creative ideas in your offer, right? Creative financing structures or different ways of paying for it, finding out what they really want, like what could really cause them to do business with you? You may knock on the door and do it in person instead of over the phone like you had been doing or trying to do it via

ringless voicemail or text message. The point is you'd figure it out. This is to save your family, right? You'd figure it out and you wouldn't quit. There's a great speech from Tony Robbins that addresses this. And I'll play it for you. I'm not sure if I'm allowed to or not, but I'm going to play it for anyway, it's only like two minutes. And I listen to this speech every once in a while when I'm stuck or when I just need a little bit of reminding. And by the way, Tony in this two minute clip, and that's just things, two minutes, 20 seconds or something like that, less than two and a half minutes. Tony uses some very colorful language.

So if you have kids listening with you, if you're in the car with your kids or at home, whatever may be, just wanted to warn you. Okay, this is a warning to take whatever action you feel appropriate. I'm going to tell you what you have to do, but however you manage that situation, if there were some inappropriate language being spoken, I just want to warn you for the next two and a half minutes you might hear something. In fact, you most certainly will hear some. All right, so I just wanted to give you a heads up. Everything you people have told me, I didn't have the technology, I didn't have the right contacts, I didn't have the time, I didn't have money. Everything you've told me, I didn't have enough Supreme Court justices.

Those are resources. And so you're telling me I failed because I didn't have the resources. And I'm here to tell you what you already know. Resources are never the problem. It's a lack of resourcefulness is why you failed. Because the ultimate resources are emotional states. Creativity, decisiveness, passion, honesty, sincerity, love. These are the ultimate human resources.

And when you engage these resources, you can get any other resource on Earth. resourcefulness is the ultimate resource and if you don't have what you want stop telling yourself the story because you don't have the money you don't have the time that's bullshit it's because you haven't committed yourself where you would burn your boats if you want to take the fucking island burn your fucking boats

and you will take the outing because people when they're going to either die or succeed tend to succeed and that's my point here with this episode when people are going to die or succeed they tend to succeed. So if you're given a choice, your actions may appear to be the same,

but your intention behind those actions will be very different. I love that little quote. When people are going to die or succeed, they tend to succeed. So with the actions you're taking, are you really trying to get a deal done? or are you trying to see how little is required to get a deal done?

Or are you trying to appear sincere in your actions so everybody is seeing you do it so you can say you tried and then you know you're going to get a little pat on the back and some consoling? Because that might be a bigger payoff for you. Subconsciously, maybe consciously, I don't know. Or are you going through the emotions

Are you going through those motions just enough So you prove that this doesn't work So you can be right about it See, this real estate thing doesn't work Or do you want to prove that You're just not good enough See, I knew I couldn't do this I knew I wasn't smart enough

Or I wasn't old enough Or I wasn't young enough Or I wasn't good looking enough Or I wasn't a good enough people person I knew it So you can be right there You know, some of those things may be very difficult to come to grips with. It takes getting real with yourself.

You got to be honest with yourself. I mean, you can BS the outside world, but it gets really dangerous when you start BS in yourself. And it's in the Legends Challenge where I'm helping people get real with themselves to get out of their own way, to put the right intention behind their actions, and go get a deal done. It's not rocket science. And it's really not that difficult. It's pretty darn simple. It can be challenging.

It's going to have your frustrations, right? I'm not going to say it's easy, but it's not that difficult. So let's get that part done first. Let's focus on that. Before you start thinking about quitting your day job, before you're thinking about putting systems in place, before you start creating your LLC, before you start putting up your website,

before you start thinking, let me get all the right activities, but you've got low intentions behind those for getting a deal done, And let's just get the right intentions behind those. And let's make some money first. Let's just get that part done. You know, in the last Legends challenge in a small group of 19 people, we had seven signed contracts inside of just the first six days of the 10-day challenge. So that's what?

That's at 45-ish percent inside of six days of the 10-day challenge? And of those seven contracts, four of them were people's first. contract signed. So you got to get the right activities. You got to do it consistently. You got to do with persistence. But you got to have that all backed by the right intention. So the Legends Challenge is not open at the moment.

But it will be. I'm going to open it up right after Christmas if you'd like to join me. And we'll get started on Tuesday, January 5th. And I'm with you live through the entire thing, by the way. And if you'd like to, depending on when you're listening to this, I don't know how many people listen to this on the day. it actually is released. So you might be listening to this at the right time

or maybe somewhere down the road or maybe years from now because that happens to sue with podcasts. But you can find the details at the legendschallenge.com and you can just kind of check the status to see where we are at. But at the very least, ask yourself, what's the real intention behind my actions at the moment?

What could I be doing more of that I'm not? if my family's life were at stake, what else would I do? Would I be doing what I'm doing right now? You know, there's plenty to learn about real estate here on this show. We've been talking about it for going on our 11th year now. But this episode especially, if you're not getting the results that you want, there's something significant to learn about yourself. I really want you to win.

and I know how hard it can be sometimes. I know what you're going through 100%. Been there, done that more than once. And I record this show to give you everything I've got in the interest of you getting the breakthroughs and the aha moments that will make a real difference for you. That will make a difference in and what you're producing in life.

Obviously professionally, obviously financially. But the impact that's going to have on you personally is probably immeasurable. I open doors. You've got to walk through. And I'll keep opening them for you. All right. Until you find the one that feels the best, the one that you feel like you can fit through.

But even if you don't feel like you can fit through it, make that attempt. Take that first step. All righty. So on the line, a new friend of mine with a great service that will help you more efficiently find and contact motivated sellers. So let's get to it. Without further ado, please help me welcome Mr. Mike Singletary. Mike, welcome to the epic real estate investing show. Matt, happy to be here, man. Yeah, glad to have you.

You know, I was really excited when I started talking to you because skip tracing has become all the rage inside of real estate investing marketing, particularly when you're trying to locate motivated sellers. And there's so many different options out there. And there's so many various complaints and concerns and questions about those different types of services. And after talking to you for a while, I really got the impression that you're on that next level. And I was excited to have you on the show to talk about it. So welcome. Appreciate you, man, for sure. You know, I didn't get to talk to you too much about, you know, what you did before or what you're doing or what you did prior to this company. So just kind of, I don't know, let me in on the background.

Then we'll get to the nuts and bolts. Yeah, sure, man. I'm an investor, right? Like most of us, right? So I've been doing it since 13. But before that, I used to own a high-end hair salon, which is a totally different industry. So I kind of jump around. Like, if I could figure this out, anybody can, right?

But at that time, man, I bought into a franchise guy. I thought it was going to expedite my learning curve. And he did a little bit, but then I realized it took the lifeline out, which is the marketing aspect of it, right? So when I got out of that, I dived in the marketing and was just flooded with leads that, you know, really that couldn't handle the infrastructure wasn't there at that time. So we built that out. And then we started obviously playing with other lead sources.

So we did texting about four years ago. We were probably the only one in our market at that time to action text. And man, just fell in love with it. The ROI was crazy. And then we got into cold calling. So now it's telecommunications marketing. Coal and texting is kind of like our gig, that's what we do. So we, you know, obviously Skip Trades had to seek with all the top providers, all that stuff.

And I had a real, you know, techie partner at that time. And so like like any, you know, investors like, man, how do we figure this out to get a cheaper and better? And that's how kind of Skipforce was born, man. We figured out a different way of data and data at better cost and kind of use it internally until we kind of push it out. Fantastic. Yeah, I've been talking a little bit about the idea of capitalism here on the show. Yeah, for sure, right? You know, that's absolutely why capitalism is good because it gets innovative, creative people to build better stuff for a lower price and the consumer benefits in that type of environment.

So, cool. So initially, you know, you were texting. you're cold calling, you're getting your data skipped traced. What were the initial problems you were seeing? I think initial problems are the same problems you're experiencing right now. I mean, really almost every skip tracing, and there's a lot of them out there, comes from two sources. Like 95% of them comes from two sources.

And everybody's reselling those sources. And then a lot of them are reselling resellers, right? So like we are one of the few that actually sources it from a totally different space. And so our unique selling propositions are saying, but I think the biggest problems is that, man, this is highly inaccurate, right? So, like, even the top sources are 50 to 60% accurate. Like, you could be 70% accurate for, like, a small period of time.

We're even higher, but not for a long period of time. We touch in millions. Just because our target audience is a moving audience, man, they don't want to be found. So they're constantly, like, changing their phone numbers. So that was the biggest issue that we asked, like, how can we make this more precise? How do we make this a little bit better?

because when you're talking about like, I don't know, three, five, six percent difference over compounding over time, that's a huge difference, right? Totally. Super. So, you know, if everyone is pulling from the same sources, those same two primary sources, and I get the reselling of the reselling,

because I think I'm in one of those chains on a former provider. So where does one begin? Like, where do you go to a different well, or do you go to the same well and do some sort of optimal? to the data that you get. I mean, when you talk about best practices, I think all the big players do the same thing. And we still do, right? Even though I own a skip tracing company, I think you have to have two different sources.

And the main thing, though, is understanding where your skip tracing company, what their source is, because if the repository is the same, we're going to get the same results, right? So one of the advantages that we provide our clients is that our repository is totally different. We have access to carrier level of data, which is different from everybody else, right? So what type level data? Carrier, like phone carrier. Got it. So, I mean, it allows us to kind of give like even our unique selling propositions,

our services are different than what you're seeing from other people. Like we could we grade everything by an activity, you know, for the last 12 months. We could tell you the best number is contact first because based on activity. We could tell you the time of day, that phone number is most active. That will increase your connection rate by about 7%, 5% to 7%. That's what our test showed. So it's really good. to run data through one source with a different repository.

You get your fallouts, your non-performing numbers. You get that one. If you actually track them, which a lot of people know, man, you'd be surprised at. But if you actually track them, you get that, then you send it to your second source. And then you can squeeze out another 10, 15 percent from your list, which is huge. Explain that? I'm not following you there. Yeah.

So, I mean, like, say you get 1,000 phone numbers, right? Right. Or say you get 1,000 prospects on a list. and you're 50% active. So that means 500 prospects that you're not getting a hold of, right? And a lot of times people just get into the list. That's what they do. And then they start running out of data, right?

So what you want to do is whenever you're having your ISA, this is one of the issues I'm seeing people go through, is that you want to qualify that league. Is that the homeowner or not? And if it's not the homeowner, you could obviously qualify to classify it, download it and send another spreadsheet to another provider and extract that extra 10, 15% out of it. Does that make sense? Yeah, yeah, totally. Got it now.

So carrier level data and you said you can grade by activity. That's just mean by when the number was last used? Yeah, it's not so much as number is last used, but it's the number that is associated closely with that particular prospect. So we give three numbers. We don't give like 10 numbers, man. man. I think it's just clogs of your system, right? We give the top three numbers. And sometimes it's that prospect or sometimes it's somebody that's associated with that prospect. So I like to give this example a lot because it's true. If I look up my mother-in-law, right, I literally look her up.

My wife's phone number has the highest grade because, you know, they talk everything day. So she is an influencer to my mother-in-law, right? So anything that's associated with that prospect. And even then is an exact science rule, right? The same as everybody else, 50, 60 percent. accuracy, right? Everybody wants to talk about hit rate, but that is really not the KPI. I mean, anybody can give you phone numbers, truthfully, right? The main thing is accuracy, which is the toughest KPI to monitor, because even if you're talking to the homeowner, all they have to say is like, man, I'm not the homeowner. Right. Yeah, I think that's a frustration for a lot of people. I say this data sucks. Yeah, it is sucks, yeah, it is sucked, man. Right? So,

50 to 60% accuracy in finding the phone number for the person you're looking for, that that's a good number. So if you're getting that, that you're doing okay? That's about average. Yeah, that's about right, man. You know what I mean? Every list is different. Like high equity, you're going to get a higher accuracy rate, absentee, vacants. You're going to get a lower one.

That's just kind of a nature of the beast. Perfect. Seems so simple and straightforward, but maybe it's just because I'm taking my own knowledge around skip tracing for granted. What else do I need to know? What else it makes a skip force unique? I mean, the biggest thing for skip force, I mean, if we have two services, I mean, price is was really separates us and quality. Right.

What we strive to do is give the highest value with the highest quality with the best possible price. So if you're a member for $49, you get access to $0.4.9, you get access to $0.00, if you just, you don't want to do a membership thing. I get them in. You can do a standard pricing. It depends on volume. It goes from 12 cents down to eight.

We give you the quality score. We give you the call window. We even have this thing called, it's called Flip Your List, where we could take another provider's phone number, it's like you're not. non-performing numbers we're talking about, we grade them for the quality score on them and see if there's another number associated with that prospect that has a higher score. So once again, all you're trying to do is squeeze out another 10, 15%. That's what you're trying to do, right, with your list and compounding that over time. Organizing your dad is a big one.

A lot of investors, man, it's just, you know, they're not Excel experts, man. They just want to go buy houses, right? So having somebody that organizes it and make sure that qualifying it correctly, that's something that I think a lot of people have problems with. We're trying to develop that a program for them that helps them with that. We're even opening a call center now because that call window is not easy to implement. We have a few clients that really, really use it, but a majority of people don't because it's like an extra step or two, right? So I think that's the things that differentiates us is that, man.

We were trying to give you the best possible value for your process and for your business. Got it. No, I see that. So like three numbers instead of 10. Right. We've got right at the upper echelon of the accuracy. Then the numbers are graded by activity, by which ones to call first, best time to call, which is key. I know a lot of people ask me about that all the time.

When's the best time for me to make these calls? Yeah. We've got a built in, man. So that's pretty cool. That's great. That's great. And then you just mentioned something and you kind of went fast over at a call center. You guys have a call center?

Which is in beta, man. So we're just starting it right now. We got a couple of our clients that we're that's using it. One of my strengths of sales. And so I like training our in-house ISAs. I've used every call center out there. It's always, I don't know, man. I mean, I'm not trying to, I'm not trying to say anything about anybody else.

I always felt like our in-house guys were better. So we're just going to kind of, we're just going to dive into this and see what happens. I don't know. We might fall on our face. Who knows? We might not. You know what I'm not. But so far, I know in-house our results are better.

So, you know, we're going to try to scale it out. Perfect. Yeah, call centers are interesting because, you know, typically your most reliable, accountable people aren't going to be your best sales people. So it seems like the sales manager is always juggling like stability with performance, right? Yeah. Cool. So, yeah, moving forward.

You got any predictions for the real estate market? I think the same as everybody, man. I'm super excited about next year. You know what I mean? I think that there's a lot of opportunity within our business. We're starting to see that now. We're starting to see a lot of people, because I live in Texas, a lot of people, it's not really shut down, but they were scared six months ago where they're starting

to come around now and I think it's going to be even, I mean, I don't know what's going to happen with this new administration. You know, I think all of this are kind of on pins and needles so a certain degree, you know, but I think next year people are going to have a lot of equity and they're just not going to have a lot of money. So I think creative financing is going to be able to be able to. big deal next year. I think you probably do too and a lot of everybody in our circle does. I just being, having, you know, being smart and having different ways of monetizing the deal

to need a big deal for us. Right, right. Yeah, I'm interested in as well. I'm not prepared for whether it continues to go up as it is. It's remarkable that it is going up still. But I'm prepared. What do you think, man? What do I think? I just did an analysis for a training that we just did last week. And I just pulled up all the normal data, right, all the normal data that anyone would look at, you know, you're looking at supply, you're looking at demand, you know, you're looking at the inventory, you're looking at the foreclosure rate, you're looking for the eviction rate, you're looking for all these different things. The affordability index just goes on and on and on. So I just pulled up all of that data and, gosh, there's just so much conflicting data. I've never seen it like this

before. Usually you can find a good portion of the data is leaning one way or the other. And right now, there's just, there's just a lot of uncertainty and a lot of conflicting stuff. So, I mean, there's really based on the amount of distress that property owners are going through right now when you're looking at, you know, all the death, the disease, the divorce, the bankruptcy, and the drugs. And I mean, drug overdose has just hit an all-time record high in June. And so with all those different types of things going on, it's remarkable that the market is still moving up. And people are opting out now of their foreclosure forbearance. So what looked like it was a certain foreclosure tsunami back in June is now like, well, maybe they're not in as much trouble as we thought they were in.

And when it comes to tenants, and we're only 2% lower right now than we were this time last year as far as non-payments. So that's not this giant chunk of people not making their payments. This is this really small little dip. I mean, it's surprising, isn't it? It's remarkable. You've seen the same thing. Yeah. I guess people really don't want to get foreclosed on and they don't want to get evicted.

There is some logic to that your house is like, that's probably the first bill that most people pay. You need shelter. You need a roof over your head. And I'm looking at the new home builder confidence is at an all-time high. The new housing starts. are almost right at 2005 levels, where they hit the previous, was the last time we peaked. And then the population, the demand there.

We got plenty of people walk on the earth to fuel our business for the next 20 years at least. And that population is just hitting that home buying age. They're entering that big chunk of people in between the age of 30 and 39. And that's where most people buy their first house, make a few bucks and move out and move up to a next one. So there's a lot of activity coming. So I'm excited for it, for sure, just like you are. Yeah, for sure, man.

Sweet. Well, Mike, it's been a pleasure. Let's stay in touch. If people wanted to go check out your services, we can send them to cellarskipforce.com. Because I know you said something up very special for the epic audience here. So they'll get some special treatment over there. Cellar skipforth.com. Anything that I missed?

Not at all, man. I mean, it's a pleasure to be here. I appreciate you. and if they ever want to get a hold of me, man, you can just Michael Singletarian on Facebook, message me there, or Mike at Skipforce.com as well. Fantastic.

Thanks, Mike. All right. Thank you, buddy. Bye, bye, bye. Okay, if you found this episode valuable, who else do you know? There's a good chance you do know somebody else who would too. And if you think about it,

when their name comes to mind, share it with them and ask them to click the subscribe button when they get here. I'll take great care of them. All righty, that's it for today. God loves you, blessings and success to you. I'm Matt Terrio, living the dream.