Epic Real Estate Investing - How to Really Succeed in Real Estate | 713

Episode Date: July 14, 2019

Using daily success report, Matt explains why someone is or is not succeeding in real estate. Tune in and learn the key point of success in this business.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Matt Terrio here from Epic Real Estate. And today I want to show you how to really succeed in real estate. This is Terrio Media. You see, while I was going through all of the daily success reports from inside of our pilot program, and that's a free real estate investing course. com, by the way. And I was checking people's activities. And it's really clear as to why some people are succeeding and so many others are not.

And that's why we keep the daily success report because when you track your activities and things aren't working out the way that you'd like, your business isn't meeting your expectations, it's really easy to see as to what there's to do and to see why it's not working out. And I'm going to show you a copy of this success report and then just kind of walk you through the reason people aren't succeeding and what there is to do to turn it around. And whether you're part of this program or not, you're going to find this really useful. And as I was going through all of these reports this morning, most of the people are not succeeding right now. And it's funny because those that have had great results from this program, what they've done is they've essentially moved up into other stuff that we offer, other solutions that we offer,

where they're getting more support and more resources available to them. So really what's left now is a pool of people that either aren't doing the business and not doing the work or they're just not doing it correctly. or maybe they don't know how to. It's not their fault by any means. Maybe sometimes it is. But I'm going to walk you through this because what you want is a clear understanding about you and about your business and how to steer your business towards that destination that you want. All right.

So as I look at all these reports, this is the Daily Success Report. And it's really just a scorecard of your business. And over here on the left hand side, we've got all of the different activities that are required to be successful in the business. These are what we call the money-making activities. These are the essentials. And then each activity is assigned a point value. And in this column, you go ahead and you set what your daily target is.

And they just keep track of how many times that you actually perform that activity. So up here at the top is the personal development actions. And you get to review your goals and you get some points for self-training. But just as you can see, a very limited number because you can do your goals or read your goals all day and, you know, learn and focus on your personal development. But unless that's so backed up with action, nothing is ever going to happen for you. So that's a small area. But down here is where we actually get into the nitty-gritty, the meat of the business. You're not going to get points for your broadcast, whether that's voicemail,

if it's a text or if it's direct mail, whatever that may be, door hangar, stuff like that. Those are your broadcasts. Then you've got your ads so you can do online and offline. You can classify as band-asized, stuff like that there. And then right here is where it starts to get kind of important. This is where you're actually generating new contacts. You're getting a name, a phone number, and an email from a person that can impact your business and you record that into your CRM and you assign them a follow-up sequence and that's what we do

inside the program. And then right here is where it gets really important. This is anytime you are initiating contact. So it's a phone dial, it's a door knock or it's just introducing yourself to somebody that can, you know, whether it's a buyer or a seller or lender, somebody that can impact your business. And you can see we allow you to get up to 100 points here. So that's what that is it's a clue. It suggests that this is a really important part of the business. It's talking talking to people. It's a people business. And every piece of real estate you buy ourselves is going to be from or to another person. So this is really important that you're talking to people. And as I'm going through people's success reports, very little talking is being done.

Very little initiating of contact with people is being done. They're doing lots of stuff online. They're just opening out Zillow. They might be sending some emails here. They're not initiating contact and actually talking to people. So that's a problem. But down here is where it really becomes revealed as to why someone is or isn't succeeding. Right down here, towards the bottom is offers presented. And you get four points for this. So that's a clue that this is a really important activity for you to be doing. And what I'm not seeing, I'm not seeing people write offers. And that's a problem because you can be doing all of this stuff up here absolutely correctly and perfectly. But if you're not writing offers, you're not going to do deals. And I'm not seeing

anybody write offers. You can actually do a bunch of this stuff wrong up here, but if you're still writing offers, a lot can be made up there. So typically when someone is struggling, I'm going to ask them, how many offers have you written in the last 30 days? And the answer is typically zero. I mean, ask yourself, how many offers have you written in the last 30 days? And then I'll ask, after that, how many offers have you written in the last 12 months? And it's almost always a number less than 10. It's not uncommon to hear one or two. So how many offers have you written in the last 12 months?

Just kind of check in with yourself. Because if you really want to succeed in real estate, you've got to one, you've got to talk to more people. But most importantly, you've got to write more offers. There's going to be a direct correlation between the number of offers you write and how many deals you do. So if you're not writing offers, I don't care what else it is that you're doing in your business. And even if you're doing it correctly and you're doing it with maximum enthusiasm and intensity, if you're not writing offers, you're not going to make any money. By the way, if you'd like to go

deeper with this, then you might like to check out this free pilot program that we're working on to help people get their first or their next deal done using little to no money. And just this last week, what we did is we upped our support schedule. You know, we up the amount of support that we're providing from a once in a call to weekly get things done video conferences. So if that sounds interesting, head on over to free real estate and investing course.com and you can get all the details there. All right. So where are we?

Okay. So here's what we know and here's what to do. There's going to be a direct correlation between the number of offers that you write and how many deals you do. So if you're not writing offers or as much as you know you should be, start with this. Make it a point that regardless of whatever you do in your real estate investing, make it a point to write one offer a day. Just one.

That's all I'm asking is just just do one. It's that simple. I mean, just imagine 365 offers in a year. If you did just once a day. So you've got your whole routine set up. You know exactly what you're going to do during the day. And you just wake up each morning. Who is going to get an offer from me today?

That's the question to start your day off with. And if he did that once a day for a year, that's 365 offers in one year. And if you just got a half a percent, a half a percent, a half a percent of those offers accepted, right? And that's really a bad acceptance rate. So just a half a percent, you would do almost 20 deals a year, I think it's like 18 and a half deal a year. You do almost 20 deals a year. So how much money could you make off of 20 deals? I mean, even if your minimum deal standards was a $5,000 deal, that's a minimum of $100 a year, just by focusing on that one simple action a day. And how many more is that? You know, it's 20 deals. How many more is that than what you've actually done this year? Go ahead and kind of put that number together, how many deals you have done with your previous answer to my question of how many offers have you written in the last year and kind of compare those, right? So if you'd like, join us at free real estate investing course.com and we can do it together. All right? So thanks for

watching. And by the way, who do you know that might find what we discussed today useful? Who do you know? Feel free to share with them. Okay. I'll see you next time. Take care. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.