Epic Real Estate Investing - How to Find More Low Hanging Fruit in Real Estate | 965

Episode Date: March 22, 2020

This Sunday, Matt shares his quick and easy formula for success that will help you find more properties under a discount! Tune in and don’t miss out on your low hanging fruit! Learn more about your ad choices. Visit megaphone.fm/adchoices

So your competition, they're leaving a lot of low hanging fruit on the vine for you. And I'm just curious as to why you're not picking it. Well, I'm going to show you how you can access it really easily. You're absolutely going to love this. By the way, my name is Matt Terrio. I am CEO of Epic Real Estate. And what we do over here is we show people how to invest in real estate with an emphasis on retiring early. This is Terrio Media.

Success in real estate has nothing to do with shiny options. 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 rei-aise.com. Here's Matt.

So at a recent epic intensive, someone in the audience, they raised their hand and they asked a question, and it's not an uncommon question. They asked, you know, why do people even sell to a property at a discount? Why don't they just call a realtor? I don't believe that anyone is ever going to sell their house to you at a discount in the way that you're explaining. And I had to pause for a second, and I started to think about it, and I just kind of did a little survey of the audience,

and they weren't the only person that thought that. And so what I guess they don't really grasp or what they don't realize is what the world of real estate outside of the current, commercial space where most real estate transactions happen on a retail level. I'm talking about the transactions that happen on a wholesale level. Let me show you what I mean. When you conduct your marketing, you conduct your advertising, you're going to receive incoming calls. And of those calls, there's going to be four types of people. And I've kind of categorized them into a really nice, safe way of talking about people. And that is I use apples. Right. So we've got four different kinds of

apples that are going to be calling you. We've got red apples, we've got green apples, we've got brown apples, and we've got rotten apples. Now, of all the people that are going to call you, about 3% are going to be red. And these are the people that need to sell. These are the people that you're really looking for. The next category are your green apples. That's going to be out 12%. And these are the people that want to sell. Then we've got our brown apples. This is about 70% of all the people that are going to call you. And we call these people the curious ones. And then we have our last category. These are our rotten apples. And that's about 15%. And we affectionately refer to them as, crazy.

They want to know why you sent this to them. What are you going to give them? They're mean, they're angry, they're offended, they're upset. It's a small number, but they happen. So when you're talking to these different categories of apples, there is a formula for success. And this is how I want to allot your time. The people that need to sell,

these are the ones that are ready to sell at a discount. They're ready to sell right now. And so I want you to spend 90% of your time with the red. apples, the apples that need to sell. Then I want you to spend 10% of your time with those that want to sell. That doesn't leave us a whole lot of more time left, right? So I want you to spend zero percent of your time with the curious ones. Once you've identified that they're just curious and they're not ready to move right now, you're going to spend zero percent of your time with them. And then the

crazy people, you're just going to flat out ignore them. I don't know if you can see that, but that says ignore. All right? So this is the formula for success. So you're going to spend all of your time with the people that need to sell, your red apples, 10% of your time with the people that want to sell. And your brown apples here, once you've identified that they're brown, you aren't going to spend any time with them. But this is a big portion of the people that responded to your marketing. They do have an interest in selling.

They are thinking about it. It might not be right now, but it's coming. They wouldn't have responded to your marketing if they weren't thinking about it. But this is how you capture the majority of the market share, is you have a really strong follow-up system that communicates with this group while you're spending your time with them. And then if you have the follow-up system in the right way, it's going to convert these brown apples eventually into green and red ones, and then you can have your time with them. So the follow-up system, it's going to consist of direct mail. It's going to consist of emails, ringless voicemails.

It's going to consist of regular emails and actual phone calling. These are the types of systems that we set up for our clients. and whether you do it with us or not, that's entirely up to you. But you want to have this follow-up system because this is where you pick up all of the market share. This is where you pick up that low-hanging fruit that all of your competition is leaving for you. Because they're spending all their time over here. Everybody's fighting over this stuff right here. But you've got this big, giant proportion down here.

Now, so this is the formula for success. I want to show you the formula for fail. I don't want you to do this. The formula for failure is this is what most people do that. Don't make it. They're going to spend 90, percent of their time with these brown apples, their actual time, trying to convert and make them red. You don't want to do that. You can't do that. Only the follow-up system and their own timeline

is going to be able to do that. And then, so they spend 90% of their time trying to convert them to red. And then down here with the crazy people, they focus on them. Don't do that. You want to flat out to ignore them. So this is your recipe for success. This is a recipe for failure. Now you know how to do it. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.