Epic Real Estate Investing - Lead Generation's 6th Commandment | 266

Episode Date: May 12, 2017

Lead generation is the engine of any business, and real estate is no different. The saying goes: If you don’t have a consistent flow of leads coming into your business, then you don’t have a business. Today on Financial Freedom Friday we cover the first 5 Commandments of Lead Generation, and a new 6th commandment that has enabled me to go from 2 to 15 deals per month.   ______   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

It's time for Financial Freedom Friday with Matt Terrio. Lead generation. It's the engine of any business and real estate is no different. If you don't have a consistent flow of leads coming into your business, then you don't have a business. Now I just stumbled upon this video that I created more than five years ago and I was doing a, that's when I was doing a couple of deals a month and I had called it real estate investing lead generation's five commandments.

I saw the video and I was like, hmm, what was I thinking about my business five years ago when I was doing just two deals a month? So I watched and nothing has changed much. No, I mean, these five commandments of lead generation are as valid today as they were then. But now that I average 15 deals per month, I have some new insights. And there's a sixth commandment that I'd add if I were to make this video all over again. And it's this sixth commandment that has enabled me to go from two to 15 deals per month. Here, watch and listen to the first five and then when that, when you, those are done, I'll go ahead and I'll share with you the sixth. Hi, I'm Matt Terrio of the Epic Pro Academy and welcome to real estate investing lead generation's five commandments. You know,

as, as they say, music, it's in the ear of the beholder and beauty. It's in the eye of the beholder. And those notions they hold true in the world of real estate investing. You see, successful real estate investors, they possess a certain mindset, a perspective, and an instinct that enables them to sort deals from real deals, and how to avoid the properties that could potentially be losers. And this uncanny knack for sorting opportunity from trouble can take time to develop. It can be a skill, but it can be yours right now by just simply adhering to lead generation's five commandments.

So commandment number one, run it like a business. Organized and systematic in your approach to lead generation. Systems they preserve your most valuable assets. They preserve your time and your money. And your lead generation, it's the lifeline to your real estate investing business. And the most successful investors, they dedicate a set amount of time each week and they block it out on their schedule so that nothing interferes with this vital business activity. So set aside some time each week to implement your lead generation plan and track the results.

Run it like a business. Number two, don't compromise. You see, you are only looking for properties that will move you towards your goals, and you're only looking for motivated sellers who will meet your terms. Successful investors, they know what they want, and they know why they want it. And finding real deals sometimes can be few and far between, and maybe even months in between. And after such a time has passed and you've been looking at deal after deal after deal, it's really easy for investors, novice and experienced alike, to compromise their standards. I mean, a property is what you're looking for or it's not.

And a seller is motivated to give you your terms or they're not. It's really black and white. So don't let the desire to do that next deal get you in trouble. Stick to your standards. Don't compromise. Commandment number three, don't buy, shop. Always be a shopper as there are two inherent advantages of this mindset. I mean, first you get to enjoy the part of investment.

investing you'll do the most, finding great deals. So embrace that part. I mean, it's fun to get a great deal and it's fun to tell the stories too. And, you know, as real estate, it moves through cycles, you're going to experience times of abundance and times of scarcity. And by being a shopper, abundance, it's never going to lead to recklessness and scarcity won't lead to impatience. And that leads us to the second advantage. You see, being a shopper, it protects you. The urge to compromise your standards is never going to win. And remember this. It's always better to let a good one get away than to buy a bad one. So don't buy.

Shop. Commandment number four, play the numbers. You know, generating leads, it's a numbers game. And the quality of those leads will be in the quantity of those leads. The more opportunity that you can generate, the greater the odds are that you'll find real deals and find them consistently. You know, successful real estate investors, they cast a wide net of looking for opportunities. because they understand their successes in direct proportion to the amount of leads that they generate. The quality of the leads is in the quantity.

Play the numbers. Now, commandment number five, don't hesitate because timing, it matters. Know what you're looking for and know what terms you'll accept. And when you find them, write the offer. Block out the competition. Get the property under contract. And there's no risk in this quick and decisive action either. I mean, all you're doing when writing an offer really is just buying the option.

to buy the property. And if during your inspection period, the property fails to meet your criteria, you can walk away. Successful investors, they pick their moments and when they appear, they seize them. So don't hesitate. All right, there you have it. Lead Generation's Five Commandments. Run it like a business.

Don't compromise. Don't buy. Shop. Play the numbers and don't hesitate. All right, so looking back, I think the idea is in that video that I'd like to emphasize after five or more years of experience under my belt since making that video and growing from two deals a month to 15 is to know your minimum deal standards. You have to have a minimum profit or a minimum ROI that you're willing to work for. And then just pass on every deal that doesn't

meet your standards. And there's two reasons. When you know your minimum deal standards, you can act fast and that's important in real estate and you can act with confidence. That's really just commandment number two and number five kind of combined. Don't compromise and don't hesitate. So those are good ones. Another idea there that I'd emphasize, is don't buy, shop. Shop for good deals. I mean, just because someone is willing to sell you their property doesn't mean you should buy it. Shop for the good deals. The deals that are going to move you forward towards your goals and then just stay away from the deals that are going to hinder your progress. And then take these words right here. Take these to the bank. It's better to miss out on a good

deal than it is to buy a bad one. All right. Now, the sixth commandment that I promised, and it's this commandment that has taken me from two deals per month, two 15. When it comes to lead generation, automate everything you can and outsource the rest. And this Sixth Commandment is really just, I guess it's just really redefining commandment number one. You know, run it like a business. And businesses, they run on systems. And the more you automate and delegate, that's a system. And the more predictable and scalable your business becomes.

The quality of your lead generation, understand this. The quality of your lead generation is in the quantity of your leads. And there's only so much that you can do on your own without a system. Some examples of lead generation that can be automated. Direct mail. I mean, you can sit down for about an hour per quarter, and you can schedule your direct mail for the next three months or so so that the phone over those three months never stops ringing.

It takes an hour per quarter. Another idea, you can run an AdWords pay-per-click campaign. That works 24-7. It goes around the clock, and that's another example of automating. Now, outsourcing. You can have someone else put up your bandit signs. You can have somebody else comb Craigslist for buyers and sellers for you. That's delegating.

And yes, I know. Those are obvious examples. I just want to make it simple. And there's a ton more obvious ones. And there's a bunch not so obviously generation techniques and strategies that can be automated. But here's what we've found when it comes to automation. What nobody else is going to tell you. I mean, they might tell you if you ask.

But if you don't know what to ask, I mean, how are you ever going to know? So here's the deal. Real estate is still a people business. I mean, every piece of real estate you buy or sell will be from or to another person. And that's not going to change anytime soon. I don't know, or ever. But what we found is that just because you can automate something might not be the best idea for you to do so.

Because automation, it removes the human element. It removes the people from this people business. And when you're in a people business, that can be a problem. And when you're talking, you know, five and six figure checks, it can be a big problem. For example, when making a call to a large corporation, like an insurance company or a credit card company and you're forced to go through their 13 steps of their phone tree before you can ever talk to anyone. I mean, if you ever get to talk to anyone at all, how does that feel?

It's frustrating, right? At the least. Or when you say you receive a phone call from someone that was just too lazy to dial and talk to you, so they sent you their pre-recorded broadcast message. And some of them, you've probably seen, heard this. They even try to get really fancy and cute by pretending at the beginning of the recording. They're like, they're like, hello? Hello, hello, is anyone there?

Oh, sorry, I didn't hear you. And then proceed with their message. Have you ever fallen for that? If you ever found yourself starting to talk back to the recording and you realize, oh, it's a recording? How did that make you feel? Did it work? No, you hung up the phone, right? Probably in disgust.

You probably had some words for that experience, too. Yeah. So those are examples of when automation goes bad. When automation goes right, however, you get a steady flow of leads. Those leads, they get sorted, and then they get serviced. and then you have this systemized follow-up system. It happens. And then appointments get set and contracts get signed and deals get closed and checks get cashed.

And for us, that's all automated and delegated the right way. It's what we've dubbed here in the epic office seller sniping. And that is how this Sixth Commandment has come to be. Automate what you can and outsource the rest. It's a major component of our epic weapons of mass production. And if you're ready for it, I want to share it with you. But as you can imagine, there's just, there's too much to share right here. So what it is, I created a three-day live event where the Epic team and myself were going

to reveal our seller sniping strategy. And we're going to arm you with rounds of acquisition ammunition, under the radar deal reveals, ninja negotiating techniques, double-barrel deal analysis, and so much more. And you can get all the details at Epicintensive.com. But don't delay, seats are limited, and they're going fast, understandably. It's been great here though. It's been great here meeting you virtually. But let's get together in person.

Let's work side by side. Let's rub elbows in and make a real impact, an impact that makes a difference on you, an impact that makes a difference on your business. And one that lasts. Go to Epicintensive.com and grab your seat. Pricing that's going to increase the closer that we get to capacity. So if joining us live even remotely makes sense to you, go now.

Epicintensive.com. Get all of the details and make a decision to attend or not. Epicintensive.com. Take care. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.