Epic Real Estate Investing - How to Simply Promote the Deal | Episode 232

Episode Date: November 10, 2016

Epic Real Estate Investing continues “Getting Back to Basics." Start your year early and get ahead of your competition. Leave them wondering how you setup a money-making December and January with the Epic Approach to promote real estate deals!!! Get a jump start on methods for Promoting the Deal. Learn to create a plan for the promotion of your real estate investment properties to draw cash buyers to your deal. Discover how to leverage for multiple exit strategies to realize a return on investment that includes cash and monthly cash flow.   ______   The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? E.ducation P.roperties I.ncome C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Yeah. Is that? Hello. And welcome to Epic Real Estate Investing, the place where I show people how to escape the rat race using real estate. If you're just getting started or you're looking for new and creative ways of making money in real estate, I put together a free course just.

for you, including a checklist on how to find motivated sellers, property owners that are willing and able to sell you their property at a discount. To access that free course, go to free real estate investing course.com. All right. Here we are on day four of getting back to the basics so you can start your year early. And, you know, so you just start your year ahead of your competition and absolutely terrify them, leaving them scratching their heads as to why you're December and your January. We're just so fantastic.

And how your spring, just your spring was better than all of last. year. That's what we're going to do. All righty. So yesterday we left off with you having a signed contract. You secured the deal. Congratulations. Now, when you and the seller signed that purchase agreement, what that did was transfer certain rights from the seller to you, the buyer.

These rights are called equitable rights. And one of your equitable rights is the right to inspect every aspect of the property. You can inspect the foundation, the physical structure, the legal history, the neighborhood, the school system, you name it. You can inspect everything. You have their right to inspect. every aspect of the property that could directly or indirectly affect the property's value. And we call the inspections during this period due diligence.

And you'll hear that term a lot in this business. Due diligence sounds terribly official, but don't let it scare you. No. It's just a fancy legal phrase for inspection or investigation. Now, these investigations can take some time. And because of this, one, you're going to gain a deep appreciation for getting the property under contract when you did by doing it fast. because you, your seller, they cannot accept any other offer while they're under contract with you.

So you can take your time working through the finer details of the property. You can take your time through diligence. You can take your time in these inspections and investigations. This is where your quick and dirty math gets cleaned up. So now we're going to do slow and clean math during this period. Okay. Number two is you're going to want to get a jumpstart on promoting the deal. So you want to start this right now

So that it's running while you're doing your due diligence You don't want to wait till the end of your due diligence And start doing this. No, you want to do it before. That's why promoting the deal is the next stage. We'll get to your due diligence or analyzing the deal. We'll get to that tomorrow. But we're talking about promoting the deal.

Okay, so we don't want to wait until the end of our analysis to start promoting it. No, because we can probably create some opportunities for ourselves before the due diligence is even done. All right. So we're going to do analyzing the deal tomorrow. Today we're going to go over promoting the deal. Once you have your deal secured, this is where all of your attention needs to go.

This becomes your top priority. You made your money when you secured the deal with a purchase agreement. Now it's time to shift your focus on getting paid. And real quick, it's important to circle back a bit and point out the importance of getting as much of your lead generation automated as possible. Because it's during this time, during promoting the deal where most people will lay off their motivated seller lead generation in the interest of taking their newly secured deal all the way to the finish line to collect their paycheck.

They're so concerned with getting paid, they forget to generate new leads. You know, in reality, this deal you currently have, this one you have under contract that you just secured, it's more likely, it's more than likely due to the activities you were doing just 90 days ago. Okay? You got this deal today because of what you did 90 days ago.

And if you slow down in your lead generation while you're trying to close a deal, you can almost count on you having a lull in your business 90 days from now. Just something really important there to point out. Back to the main subject. Now, it's time to get paid. And there are multiple ways of getting paid from a deal. And how you want to get paid is going to depend on what your income goal is and the deal you have at hand.

I'm sorry, real quick again, something else to point out. There's a reason I'm a little against creating exclusively a wholesaling business. You know, unless your goal is to create a job for yourself and be your own boss, I am against it. If your goal is to create a job for yourself and be your own boss, then fine. That's fine. That's your goal. There's nothing wrong with that. You are free to do what you want to do.

It's just that I think if that is your goal, you're selling the complete potential and benefits of real estate really, really short. You're missing out on a ton of opportunity if that's just what you're going to focus on. Nothing wrong with it. You'll get no judgment for me. I just think there's a, you could be doing a lot more, there's a lot more potential there that you could grasp inside of real estate. Secondly, not every deal you secure with the purchase agreement will be wholesalable.

Or wholesaling won't be the most profitable exit strategy. Or it won't be the exit strategy that moves you towards your financial goal the fastest. So I ask, just keep your options open and reserve your right to decide what you're going to do with the property until after you've completed your due diligence. If you refer to yourself as a wholesaler, consider from this point forward, just refer to yourself as a real estate investor that happens to wholesale when the situation is right. Consider it. If you don't like it, call yourself a wholesale. That's fine.

I'm just throwing that in there. Consider that. I don't want you to, I think you can move along a lot faster and reach your financial freedom, goal, your financial independence if you keep all of your options open. All right? Okay. You know, did you get into real estate to make money or become financially free? I guess that's the big question.

And those two can coexist, but they are two completely different mindsets. right you can certainly you can make a lot of money wholesaling or did you is your ultimate goal to be financially free okay those are two completely different mindsets they can coexist they can work together but they are two different things so when you secure your deal keep your options open keep your options open to the exit strategy that's going to move you towards your financial goal the fastest and how you can create multiple options for yourself is by launching your promotions campaign prior to taking on your due diligence okay um you know your options could be to the property, could be to flip the property, could be to fix and flip the property. It could be to lease

the property. It could be to lease option the property. It could be to lease option the property. You just don't know which one is going to make the most sense for you, your situation and your goal until you complete your due diligence. So when promoting your deal, you want to promote it in a way that you create all of these options for yourself. So once you're done with your analysis, you have options. And the best way that I've found to do this is when, or when promoting your deal, very much like when marketing to motivated sellers, be a problem solver and offer solutions. So, for example, what type of problems do fix and flip or fix and flipper investors have? Finding enough equity in a deal to support their flip, right?

Or to support the fix. So what types of problems do buy and hold investors have? Finding a satisfactory return on their investment. What types of problems do lenders and money partners have? Finding someone competent at finding deals consistently. So these are the types of messages that you want to promote solutions for your options. Now, you can split these messages up into multiple promotions, or you can compile them all into one. It just depends on your goal.

And it depends on your deal. And an example of my ad framework at work, it looks kind of like this. Investors, or excuse me, what was it? Investor surrenders. Pick up where I left off. My loss, your gain, 30% below market value, 17% cash on cash return on the ARV. every offer will be considered. Click here for more information on this deal

and many more just like it. Okay. See, with these few lines, I covered all of my bases. See, I've got opportunity covered here. I've got equity. I've got ROI and I've got more deals than just one. So I said, I'm creating opportunity.

First of all, investor surrenders pick up where I left off. That means just come and save me. All right, here's the deal you can have it. My loss, your gain, I even said in there. So I'm promoting equity, 30% below market value. I'm saying there's some equity there for a fix and flipper. Then I'm saying 17% cash on cash return on the ARV to after repair of value. So I'm saying, so for the buy and hold person, there's a good ROI there.

I also say every offer will be considered. So I'm trying to inspire them to send me something. And then I'm saying click here for more information on this deal and many more just like it, letting them know that I have a lot more. So there's my money partners, my lenders, stuff like that. So I'm trying to attract everybody with just these few lines. So once you have that in place, now how do you spread this word? You've got the thing written.

You got your message ready. Now how do you distribute it? Well, there's an axiom within marketing that says, exposure creates demand, demand drives value. Meaning the more exposure a deal gets, the higher the value of that deal that will be created. So once you've got your message sorted out, all you want to do is just focus on achieving maximum exposure.

Everything else is going to take care of itself. Just it's very simple. Focus on maximum exposure. That's going to create maximum exposure. value for you. So to achieve maximum exposure, you want to leave no stone unturned with your marketing and your promotions. And to be certain that we don't do that in my office, we've created a 20-point marketing checklist. And every time we get a deal, we just run down the checklist. We start at the top and we just work our way down. And in most cases, we've found several options for our exit strategy

before we've even completed the checklist. So if you'd like to get a copy of that checklist, you can go to epicmarketing checklist.com. Epicmarketing checklist.com. Grab a copy for yourself and start using it in your business. It's so simple. We've given that exact checklist to our VA. And once we get a deal under contract, our VA works the checklist for us.

She starts at the top and she just works her way right on down to the bottom. Now, a very important note on this subject. Don't miss this. The deal you promote, it must be a deal. Okay? the checklist is not going to fix a deal that's not a deal. If it's not a deal, all the promotions in the world will not work. So back to finding and securing the deal.

If you can't get past those first two stages, this third stage promoting the deal will be completely irrelevant. Now, if you have a deal and you can't close it, it's going to be for only two reasons. One is not a deal or two, lack of exposure. And if you use the 20 point marketing checklist, it will not be for lack of exposure. it'll be because it's not a deal.

And that's a painful realization sometimes. One that hits even me every once in a while to this day. It's going to happen to you as well. And that'll typically reveal itself as to why it's not a deal in the next stage we're headed to analyze the deal. But once you run through the 20-point marketing checklist, then it's time to analyze and close the deal. And that's what we're going to be covering tomorrow. But just understand, if you have a deal and you can't close it, it's going to be for just one or two reasons. One, it's not a deal or two, lack of exposure.

And if you use that 20-point marketing checklist, you can eliminate the second one. It's going to be because it's not a deal. All right? So, um, perfect. So tomorrow we're going to be covering allies and closing the deal. That's what's coming tomorrow. But before we go, let's run this checklist on your deal promotion. Okay.

One, are you indeed finding deals? Are you indeed finding deals? Two, are you promoting solutions, right? Are you promoting solutions? Three, are you promoting solutions to people with problems? problems. Four, do you have a checklist to assure you achieve maximum exposure for every deal? And five, are you keeping your options open with regard to exit strategy on every deal?

Run that checklist on your business, on your deal promotion. Are you finding deals? Are you promoting solutions? Are you promoting solutions to the right people, the people with problems? And do you have a checklist that you use, you don't have to use ours, but some sort of checklist so you know you consistently achieve maximum exposure for every deal? And are you keeping your options open with regard to ex-istrovers? strategy on every deal. And once you can say yes to all of those, you'll be ready to meet me here

tomorrow where we'll analyze the deal and then we're going to close the deal. All right? So you know what time it is now? It's time to give away this episode's $100.m.com gift card. Doing this every episode in November. You got like eight chances to win. And all you have to do to be eligible to win is to go to iTunes, leave a review for the show. Hit the subscribe button, leave a review. If you've already left the review at some point in the past, then there's nothing for you to do. Thank you very much for that. you're already entered. And if you'd like to enter, then just head on over to iTunes, type in Epic Real Estate Investing into the search window,

click on this podcast, click the subscribe button, then click on ratings reviews, and there you go, leave a review. And so we'll go ahead and we'll announce today's winner right after we spin this scroll bar. And she slows down and right here. Headline says, it's your fault. Fusion Nick. If you're not getting deals done after listening to this show,

you have no one to blame but yourself. Thanks, Matt, for all that you do. Well, Fusion, Nick, thank you. Thank you, buddy. Thanks for the review. And thanks for the endorsement. And what you need to do now, Fusion Nick, is send me an email to podcast at Epicrealestate.com. And I'll reply with a $100.

Amazon.com gift card that you can use for yourself and your business for the holidays, whatever you want. All right? So that's how it works. Every episode in November, just click the subscribe button and leave a review over at iTunes. And you could win, too. All righty. So until tomorrow, guys.

God bless, and to your success, I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.