Epic Real Estate Investing - Lead Generation for Real Estate Investors (must know) | 899

Episode Date: January 16, 2020

Leads are the lifeblood of every business and lead generation marketing is the first money-making activity that can lead you to paycheck. Therefore, in today’s episode, Mr. Theriault shares the basics of lead generation so you never miss a potential customer. Tune in and find out more! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio 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, rock stars, Matt Terrio here from Epic Real Estate. Leads are the lifeblood of every business. You see, every business needs customers. And before they are customers, they are what we call leads or potential customers. That's how it starts. Lead generation marketing is your very first money-making activity that can lead to a paycheck. So I'm going to run through the basics of lead generation marketing for you.

Because if you understand these basics, you'll never be at a loss of how to generate these potential customers. Let's get started. Identify Target. This is probably the most important aspect of lead generation marketing because nobody in their right mind is going to sell you a piece of real estate at a discount unless they have to, unless they've got some sort of problem. And it's this problem that causes a seller to be motivated. Something is going on in their world that's just more important than them selling their house for top dollar through traditional channels. And generally speaking, the seller is distressed. And I'm referring to. to three types of distress. There's personal distress, there's financial distress, and there's property distress. So personal distress, that's like divorce and disease, death, or drugs, what investors refer to as the four Ds, and then there's financial distress like job loss, bankruptcy,

or really anything that disrupts their income. Then there's property distress like bad tenants, code violations, fire, or flood damage, or overdue or neglected maintenance and repairs. And many of these can overlap into more than one category of distress. And some conditions can be the cause of others. For example, out-of-state landlords can cause stuff or being an absentee owner, inherited properties, or elderly owners, long-time owners, trouble with the law. There are many more symptoms and sources of problems that can lead to identifying potentially motivated sellers, but those are most of the primary ones that real estate investors look for. All right? So we know who we're looking for, sellers, right? We know what kind of problems of theirs we're looking for.

Now, how do you find them? Well, they're three. three primary ways, either referrals, list brokers, or public records. So referrals from professionals and service providers that would encounter sellers with problems, like realtors and family law attorneys, CPAs, contractors, property managers, just to name a few. I mean, technically because we're talking real estate and everybody needs a place to live, just about anybody could be a referral source. Then there's list brokers. So with the simple Google search of, you could just go search like marketing list brokers or marketing list providers. And you can buy lists of property owners that fall into these problem categories, like already done for you. Then there's public records. So,

if you're short on relationships or short on money, or simply just want to access this type of information first, go to the source, public records. And you can search online in some cities and counties, and you can visit the city or county courthouse in person to look through the public records as well. In every city, every county is a little bit different in how they provide access to these records. But just about anything that you're looking for with regard to signs of seller distress and problems, it can be found there. So that covers the problems. Who you're looking for, what kind of problems and how to find them. Now, if you follow the problems, just think of this. If you follow the problems, the profit will follow. Because the foundation of every deal lies within the seller's

motivation to sell. So if there's no motivation, there's probably not going to be a deal. If there's big motivation, you're likely going to find a really good deal there. So motivated sellers are going to exchange equity for peace of mind. And that's essentially what you do. You solve problems for property owners in distress. In exchange for that, they pay you with equity, specifically discounted real estate. So that's the first profit accelerator, identify target. The second profit accelerator create curiosity. So unless you want to chase motivated sellers, you're going to want to create curiosity by promoting the solutions you offer as a real estate investor so that they chase you. Got it? So, as a real estate investor, what solutions do you provide? Do you know? Well, you can buy their property as is, with no fees, with no hassle. You can make the transaction easy. You can do it quickly. You can do it with discretion. You can preserve their anonymity and dignity for the seller. You can, you bring competence to the table. You bring what also what most investors overlook and what most sellers want the most. And that's the certainty of clothes. They want whatever they're dealing with to be over and done with. That's a biggie. It's a huge one.

Motivated sellers are going to give up more than you can imagine just for the fact that they know this problem is going to be gone or seriously alleviated once you buy their house, even if it is at a big discount. So those are the solutions you provide as an investor. And essentially, you are a problem solver first. Now you have to put them in front of the seller to create curiosity. You have to put your solutions in front of the seller. You have to make yourself known to these sellers via promotions, marketing. That's the second thing you are. You're a marketer.

You're a problem solver and then a marketer and then an investor. And so you have to promote your solutions. And you can do that through direct mail with letters and postcards. You can do it online and offline with paid ads. You can do it through networking and relationships, TV, radio, online, free classified ads, billboards, events, yard sales, your clothing, social media, car magnets, just about anywhere. It's hard to go anywhere these days without seeing an advertisement for something. And all of those places are available to you as a real estate.

investor as well. So the first profit accelerated is to identify target. The second is to create curiosity. And the third is trigger action. And this is really important to your lead generation marketing. And the question you want to ask yourself is how simple and easy is it for a seller to contact you through their preferred method without you losing the opportunity to follow up? So there's two parts to this one. For example, the first part is some sellers are going to prefer to contact you via phone. Others are going to want to text it. Others are going to want to visit your website and just kind of take a look and read through it their leisure. So you've got to remove all obstacles that may interfere with the sellers reaching out to you. And regardless of which one they

choose, and this is the second part, you must be able to capture their information when they do contact you, regardless of which method they choose, so you can follow up. You see, most transactions they won't happen until after the eighth contact or so. So triggering the seller's action so that it triggers your follow-up action, that's key. And we do that with the trigger and trap toolkit that we have here at Epic. So once you have those three components in place, it's time to automate this entire process. And the importance of this really can be most easily and accurately explained by the law of cause and effect. If you want consistent effects, opportunity and money, you must apply consistent

causes, automated lead generation marketing. And consistent lead generation marketing can be created in one of two ways by either paying for it with your time via your personal efforts or paying for it with your money via a marketing budget. You know, creating automated lead generation with your time, that can be accomplished in several ways. But the source of the automation is going to be up to you and your own discipline. For example, scheduling set times to, you know, call motivated sellers or knock on doors.

and sticking to your schedule, that's one way. It's essentially free monetarily, but heavily dependent on your time and discipline. And for that reason, most people don't consider these two activities automated. But for the right person and the right work ethic and a big enough reason to succeed, it can definitely be classified as automated.

Other ways to achieve automated lead generation with little to no money are by wearing your solutions, so to speak, in the form of clothing, like a T-shirt, like this, or a car magnet on the side of your car, or carrying a book, a book around, carry one, this, like this, and leaving it face up on the table wherever you go.

And like the T-shirt, you just wait for people to inquire. I do the same with this pop socket on my phone. It's right here. It reads, I buy houses. And wherever I go, I just place it on the table with this side facing up. I just wait for people to inquire. And you can carry property flyers around with you

and do the same thing. So the point being is wearing your message, or carrying it with you wherever you go, that's automated lead generation marketing that you pay with with your time, right? I mean, wherever I go, there's my shirt. So if you don't like those ideas, then you're going to need some money, a marketing budget.

And you can then automate your lead generation marketing through channels like direct mail, Google pay per click ads, social media ads, YouTube ads, newspaper ads, TV, radio, bus benches. I mean, like I said, you can't go anywhere these days without seeing some sort of advertising. and that's all available to you if you have the money to pay for it. So those are your options.

You've got two of them for automated lead generation marketing. You can make it happen for free by using your time and discipline, or you can make it happen by using your money, your wallet. So before you are a real estate investor, understand that you are a problem solver and you are a marketer. That's how real estate investors find discounted property. Your lead generation marketing, it's going to attract four types of leads that you need to understand.

and I'm going to show you exactly how to deal with each type to maximize your return on time. And then I'm going to give you the best hands-down lead generation marketing strategy available to you. But first, I'm going to give you the three things that you must include in your lead generation marketing, whether you're automating with your time and discipline or your money or both to generate leads.

You must include these three things. The first thing is, one, tell them who you are, who you help, how you do it, and the benefit of your help. And we do this through what I call the audio business card. And I call it the audio business card to remind people that it is just as effective, if not more effective, coming out of your mouth as it is written on a piece of paper or a marketing material. And there's a formula for it. And it looks like this. Starts with I value verb, target market, feature, so they can.

Can you guess what the last one is? Benefit. All right. So there's the formula. It's I plus value verb plus target market plus feature so they can benefit. All right. So the value verb, it's going to be something like show, help, train. I mean, I guess even consult could be to some degree.

Then target market, this is who you're looking for. So you're essentially looking for categories of sellers. buyers and lenders. All right. And then the feature, this is what you do for them. So they can. And this is the benefit of the feature. So as an example, you might have, I show busy professionals, which would be a buyer for me,

how to build a cash flowing portfolio so they can retire sooner. Got it? So build the cash flowing portfolio so they can retire. hire sooner. That is one way for a buyer. And you notice I didn't say I show buyers. I created a category for the buyers. So an example for the seller could be I help. So my category for seller could be say landlords, right? I help frustrated landlords increase the ROI on their rental units so they can sleep better at night. Got it? So the benefit of the feature. Or I help help homeowners behind on their payments catch up and preserve their credit score so they can

get on with their life. So this is the formula in its entirety. It's you, what you do, show help train, who you do it for, what's the specifics of what you do, and then the benefit of that actual thing that you provide. So anytime someone asks what you do for a living, you answer with your audio business card. And anytime you put together a marketing piece, make sure to include all of the audio business cards essentials, who you help, how you help, and the feature and benefit of your help.

And you'll see some examples of audio business cards below. So feel free to use any of those down there or use the formula to create your own. Right, so that's number one. Number two, play everybody's favorite radio station, W-I-I-F-M, with them. What's in it for me? your communication must be focused on the person that you help,

whether that's face to face or it's written on a marketing piece or in an advertisement. Because nobody cares about what's in it for you. Nobody cares. And they're not going to care about you until they know you care about them. All right, you got to give before you get. Number three, always include a call to action. After they know who you are, who you help, and what's in it for them, you've got to tell them how to get that help.

Don't take it for granted and assume they, know because they don't. So, so tell them what to do. Be very clear with this. Call this number, text this code, go to this website, go click here, meet me here after the meeting or meet me at the coffee shop. You have to tell people what to do if they want to get your solutions. Don't trust that they're going to figure it out or assume that they know what to do. Be clear and direct when telling them what to do. All righty. Now, with regard to your lead generation marketing, you're going to meet four different types of people. And I like to refer to them in. in a very innocuous way as fruit, specifically apples.

So there's four types of people you're going to meet. You're going to meet red apples. You are going to meet green apples. Uh-oh. I don't have a brown pen, but you are going to meet brown apples. Let's just pretend that purple is a brown, and you are going to meet rotten apples. Okay.

So our red apples, these are people that need to sell. These are the people you're looking for. The green apples are the people that want to sell. The brown apples are curious. They just want to know how much they can probably get for their property and what's this all about? How does this work? They got lots of questions.

And then you have the rotten apples. who I refer to affectionately as crazy. Okay? They're the ones that are angry. They're mad at the world. They don't understand what you're trying to do or what you're trying to pull over on them and they're just, you know,

they're mad at other things in the world and they just tend to take it out on you because you are the most convenient at that point in time. All right? So these are the four types of people you're going to interact. Now I'm going to give you the formula for success and how you delegate your time to them

or how you allocate your time. Or I'll give you the percentages first and then we'll go over the time. So about 3% of the sellers you interact with are going to be red apples. That's it. Only about 3%. The green apples are going to amount to about 12%. The curious apples, the brown ones, that's about 70%. This is the majority of the people that you're going to be interacting with.

And then down here, you got about 15% that are crazy. So now you know what to expect. If you generate 100 leads, there's probably going to be three red apples in there. There's going to be 12 green ones. And then the rest will be curious, mostly curious and a little bit crazy. So here's the formula for success as far as your time goes. I want you to spend 90% of your time with the red apples. 90% of your time with the red apples.

10% with the green apples. Right? So it doesn't leave us a whole lot of time left, does it? Exactly. So once you've identified one of your leads as a brown apple, you're going to spend zero time with them. And you're going to let your follow-up system spend the time with them until they become green or red later on down the road

because some of them will, a lot of them will. So the follow-up is really, really important. But I don't want you spending your time on these because you really don't know when they're actually going to turn green or red. Okay. And then the crazy people, you're going to flat out, just ignore them. Sometimes it's a little bit more difficult to do than it is to say, but ignore them. They have nothing to do with you, nothing to do with your business. They got other things going on in their world and don't, don't just flat out ignore them. Okay. So that's the formula for success.

Let me show you the formula for failure. Those people that get into this business and they quit the business, this is typically what they do. This is typically how they allocate their time. They will spend 90% of their time with the curious apples trying to force them to be red. That can be a recipe for extreme frustration, disaster, and a quick exit out of this business. So they spend 90% of their time with the curious apples trying to turn them red and they focus on the crazies. They can't get those negative experiences out of their head and it messes up all of their interaction with the other apples that are out there.

The other, what's that, 85% that are out there that are waiting for you, that are looking for what you have to offer. All right. So now you know these are the four types. This is how they're, the, how they'll just be distributed amongst your marketing and the leads that you talk to. This greens row here is the recipe for success and how you allocate your time. This red here.

Don't do this. Don't spend any time with the brown apples once you've determined that they're brown. Let your follow-up system do that. And these crazy people just flat out of ignore them. Don't do it. All of the people that fail in this business do, they focus on them, and it interrupts and it gets in the way. So which lead generation strategy is the best? Well, the answer is the one you'll actually do and do consistently.

So here's what to do. One, write down what seller problems you're going to look for. You're going to look for absentee owners, frustrated landlords, code violations. I gave you a bunch of those ideas earlier. Number two, write down the method that you're going to use to access these motivated sellers. You're going to access them through referrals for the people that you know or list brokers or public records. Number three, list the solutions that you're going to provide. You know, do you buy for cash fast as is?

I gave you a bunch of those two. Number four, write down what method you're going to use to promote your solutions. And then five, choose your form of automation. Will you pay for it with your time and discipline? or your wallet. And once you've got your plan written down, now implement. Start. Don't overthink it.

The best lead generation marketing strategy is the one that you'll actually do and do consistently. So just do it. A good lead generation marketing plan executed now is far better than a perfect one executed next week. All righty. So God bless to your success. Now, go make it rain. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow.

Yeah, yeah, we got the cash flow. We didn't know home boy, we got to dash low. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.