Epic Real Estate Investing - New Marketing Campaign for Motivated Sellers | 1078

Episode Date: July 15, 2020

Recently, Matt pulled a highly targeted list of vacant single-family residences, owned free and clear by out of state owners in Las Vegas. Tune in and find out what kind of marketing campaign he created to attract the absentee owners of these properties in order to purchase their properties at a discount! 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.

Here's Matt. Hey there, Epic Investor. It's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. Could certainly use a retirement right now, a retirement from all the madness, for sure. This is the Epic Real Estate Investing show, and I do this show because I care about you. I see, I know that most people are living a life of. financial sacrifice and betrayal.

I do this show because I care about my son and what he's going to learn. I think it's really important that parents take control or certainly some serious interest in their children's development right now. I think family is so important. It's crucial. It's vital. It's so needed in what we're dealing with right now. And so I know that not everyone has.

has access to that. And I'm not here to be your parents, not by any means. One is enough. But I do know that most people are living this life of sacrifice and betrayal, financially speaking. So what we've done here is we've built a system that creates an opportunity for one's money to work harder for them than they did for it. Saving them in their lives from a lifetime of financial worry. No one ever taught me that. No one ever taught me that I could put my money to work. so that it worked harder for me than I did for it. I was raised to just work hard for money and not knowing that you could put that money to work. And it works harder and more consistently than you do, right?

We're human beings. But if you deploy that money into an investment, an investment system, it works for you, even when you don't feel like working. And real estate, it is. that system. It's worked for more people than anything else. I know that real estate works. I'm living testimony through the epic community and the number of people that I've been able to help. I know that it works because I've witnessed it work for them too. And I believe everyone deserves a chance. So that's a big reason that we're here is no one ever really gave me that

chance. Well, they gave me the chance, but half my life was over by the time I got it. And hopefully I can get it to you before you get to that point. But if I missed you and you are halfway through life, no worries. I mean, if there is anything that is going to make up for a lost time, it's real estate that's going to make that happen. You just got to shift your focus, shift your focus from making piles of cash for working hard for those piles of cash to working smart to creating streams of cash. You do that one thing, one time, and boom, you can really make a quix.

quantum leap in your financial journey, whatever that journey is for you, whatever that destination is for you. If it's just a little bit, you can do it really fast. If it's a big giant goal, you can do it really fast. It's not get rich quick, but it certainly is get rich quicker than how most of us were all taught to go about it, how we're still being taught to go about it, how it's still being pounded in our head, this old financial antiquated advice of work, work, sacrifice, sacrifice, save, save, save. And hopefully if you do it right, you can pick your head up in 40 years

and you'll be able to now live life on your own terms. Now that two-thirds of that life, your most productive years of your life are behind you. So if you don't want that, that's why we're here. And I don't want that for my son because I learned the hard way and I don't want him to have to learn the hard way. However, who knows?

After being a parent now for my son just had his ninth birthday, maybe learning the hard way is kind of a blessing. But if he could bypass some of that heartache and pain, I would certainly love to contribute to that. So if this is your first time here, really glad that you found us. If you like what you hear,

make sure you hit the subscribe button before you go. If this is not your first time here, welcome back. And thank you. Thank you for sharing this with your friends and your family. We wouldn't have been here for 10 plus years if you weren't doing that. You're the absolute best for doing that.

So thank you. I'm eternally grateful to. you. All righty. So good to be back. You know, I took a couple days off. First time and a long time in years. We've been rolling this out daily, the Epic Real Estate Investing podcast, daily for quite a while. I took a couple days off to sit back and think and reflect and came up with an idea. I got a big announcement for you today. You know, as my real estate business, it starts to ramp up. I want to commit more time to it. I'm just seeing. we've been putting a lot of work in lately,

and it's demanding a little bit more of my time and producing this podcast on a daily basis. It's consuming. It's not easy, right? And so it's pulling me away from that. And actually, I should say my real estate business is going to pull me away from the podcast a little bit. And I'll get into that.

We're not going anywhere, so we're still going to be here. But just things are going to change a little bit, and I want to share that with you. but, you know, as I've been talking about the last few months since we've kind of started to experience this pandemic. And I anticipate, I think we all anticipated a big shift, a big downturn. Oh, boy, here we go. You know, not to mention that. We've already been in, what, 11 year, 12 year up swing of the real estate market.

So we're overdue. Typically, that's just like a seven or eight year cycle. And here we are on, what, a year 11, 12. so if that's 2008-ish, yeah, like 12 years, right? And so not to mention the pandemic, or I should say mentioning the pandemic, not to mention where we are historically, like the bottom should be falling out of this by now, right?

But it hasn't. We haven't really seen any signs of real downturn. I picked up a few properties right away from people that were panicking, and they weren't great deals, but they're good enough deals. And so I picked those up, and then I was like,

okay, well, let's get ready. It's about to be on. And let's just make sure that I don't buy too much too soon because I don't want to be buying at the top. So sharpened the saw a little bit and penciled in my and refined my minimum deal standards to make sure that I just bought the right stuff. But here we are, what, four months later?

And that wave hasn't really coming. Quite the opposite, actually. If you're talking to realtors right now, they're busy. Like the buyers are. out. They're buying. And so nothing like we had anticipated yet. But here's what I know what's going to happen. It's, I mean, I'm willing to bet darn near everything on it. You know, with divorce on the rise, suicides on the rise, bankruptcy filings on the rise, addiction on the

rise. Loan defaults, certainly on the rise. More and more people are taking on those forbearances. And they're thinking those are a safety net, right? They're thinking like, ooh, I got a break. Those forbearances will impact your credit score regardless of what they say. Actually, they won't impact your credit score, but they will impact you down the road when it's time to get a new loan from the bank. They don't tell you that. They just say it won't impact your credit score. But it's definitely on your record. So your credit score might look really good, but the next bank will, that you apply for a loan from, a real estate loan, is going to look back and say, you know what, you weren't as financially stable as we thought. And might make you jump through a few more hoops,

might increase your loan rate, might have to increase your down payment, or just might get rejected altogether. But anyway, those things are on the rise. They're all on the rise. They're all on the rise. And with unemployment still significantly high, albeit it is bouncing back, right? We've had two great job reports in the last two months. There's still a lot of people without their jobs. And with all of that to consider, there's only really one way that this can go. I mean, at least in my book, I don't have that crystal ball, but I'm pushing all my chips. I'm betting on it. I'm aware that the big shift I was anticipating, that we were all anticipating, it's probably still maybe a few months away or not.

We don't really know, do we? Things seem to change by the day. I mean, California just pulled back on their reopening. It would be a couple days ago as you're listening to this. And I don't doubt that there will be other states to follow. Perhaps by the time you even hear this, other states have already followed. You know, all of those stats that I just mentioned, sadly. tragically, will continue in the direction that they're going.

And those things, the divorce and the suicide and the bankruptcy and the job loss and the addiction and the drugs and the disease and all that stuff, those are the very things that cause real estate to sell at a discount. They are what caused distress. They cause personal distress. They cause financial distress. And they cause property distress. they are what put the motivation into motivated seller. Now, there are talks of more stimulus and likely the unemployment benefits will be extended again,

of which could drag out the shift, then it probably will. But as I mentioned several months ago, the longer this takes for us to recover from this virus, for us to pull through this, I think it's the longer it's going to take for us to recover economically. I think the worst it's going to be.

God, I hope I'm wrong. I mean, I don't know what you're gathering from me going through this right now. Maybe you're starting to feel a little bit depressed and maybe wondering where I'm taking this. And, you know, if I'm licking my chops and hoping this all falls out, I am not. I so am not. If I could control this, I'd turn it all right around and return this all right back to normal. I'd return us all back to better than normal because we were kind of rolling pretty good here at the beginning of the year. but we've got no control over it.

I got no control over it. All I can do is process what's going on and then make decisions around how I'm going to act, how I'm going to respond. I can control my actions. I can't control what's happening. But I hope I'm wrong. I really do.

I hope that, you know, it's not as bad as it seems because it seems kind of bad right now. And if I am wrong, fantastic. I'm going to be fine. I'm going to be just fine by doing what I'm doing right now. And if I'm right,

then I want to be really fine. My clients are going to be really fine. You are going to be really fine if you're taking action on what you learn here. Like I said, and if I'm wrong, you're going to be just fine too. Basically, in a nutshell, I'm going to be carving out big chunks of my time

for the business that got me here in the first place, both Mercedes and myself. We talked about it, at our 1,000 episode that we recorded together, that things would be changing. And we did that actually, we had that discussion or that recorded that episode before COVID was on our radar, before we were really thinking about how much life was about to change.

And it certainly changed. So it threw us off track a little bit. We didn't get into our real estate as quickly and as deeply as we wanted to, but we are now. And we're helping our clients go through it as well. And all that to say, Mercedes and I were going to be pulling back a little bit on the podcast release schedule to one day per week.

I think that's enough. I mean, we're doing this daily for years. And it felt good to take a couple days off. And so through the rest of July and the rest of August, at least, we're going to be producing the podcast one day a week, both of us together. And that's so that's first.

Secondarily, this is going to be a long needed break as well. I mean, for a few years, like I said, we've been running these daily episodes here on the show. And a few years before that, we were doing a few episodes per week. And a few years before that, we were at one day per week. And as we work our way into our 11th year, that's a lot of episodes. And from that, from all of that, we could use a break. It's been tough lately to come up with interesting content for you as well. as I don't know, you probably could tell.

Maybe I was fooling myself or maybe I have fooled you. I don't know. But I've been really forcing it. I've been trying to stay interesting and current and relevant. But it's just, it's getting tougher and tougher to do that. I mean, it's never, ever been an issue before because I would typically just use whatever happened in my real estate the day before is inspiration. And then boom, we got a new episode.

It's relevant. It's timely. And it's interesting. It's helpful. It's impactful. And so. it's just getting really busy over here right now and making time to make those episodes

is getting more and more difficult. And it's not for a lack of content. We still got plenty to talk about, but for a lack of time to create it and thereby defaulting to something, you know, just easy just to meet the schedule, just record something real quick, mailing it in, so to speak.

And that's not cool. That's not me. But, you know, we all get busy with things and, you know, you kind of don't realize what you're doing. You're just trying to get by a day by day. And so from one perspective, it's going to give Mercedes a bit of a break. And from another perspective, I think it's going to make for much more interesting, thoughtful episodes. If, you know, if we've ever been able to meet at a live epic intensive, and gosh, I can't wait until those things come back. But if we've

ever met there and or maybe just met at one of the mastermind events are just, you know, out and about. You know, I don't like talking about theory or, hypothetical scenarios. And I don't like talking about them really here on the podcast either. I prefer to talk about real situations. I prefer to talk about real deals in real time and what's going on right now. So expect more of that. And as we navigate this new market and this new world we're living in for that matter,

it's all going to be relevant and interesting and most importantly, helpful, impactful, invaluable. So for the rest of this month and the rest of August, you can expect a fresh new episode on Wednesdays. And when we hit September, we'll decide what we're going to do from there. Travel as far as you can see, and when we get there, we'll see further.

So I'm not going to make any predictions. Maybe we come back to a daily episode, very, very possible. Or we're just floating right along and doing really well with one day episode, one episode a week. And that'll be fine too. I'm okay. I'm not attached to the outcome. we're not going anywhere.

I'm going to stay here or the epic real estate investing show. The longest running active real estate investing podcast out there is going to stick to it. We're not quitting. Just letting you know we're just making a little bit of an adjustment. And maybe it's temporary. Maybe it's not. We don't know. Right.

Oh, and if you're bummed about Turnkey Tuesdays and you're already feeling Mercedes withdrawals, I get it. I understand. Don't fret, though. She'll be right here with me sharing a new deal of the week each and every week. She's at the water park right now with my son and his cousins. But she's got some hot properties this week. And she's going to share those deals of the week with you each and every week.

And if you want to stay abreast, just go to cashflow savvy.com and download the frustrated investors guide to passive income at cashflow savvy.com, which you'll find really helpful if you are a frustrated investor looking for passive income. And you'll be on the list as she releases new turnkey income. properties each and every week. All right? Now, I'm going to get to work. And I'll tell you exactly what I'm going to do first.

I pulled a highly targeted list from propstream epic.com. Propstreamepic.com. And I pulled a list of vacant single family residences owned free and clear by people living out of state, absentee owners, out of state absentee owners, of three bed, two Beth in some key zip codes here in Las Vegas and just zip codes that fit my criteria. And I pulled some at, or I pulled all the properties that fit that criteria at and just barely below the median price point. And I've put together a campaign.

It was a small list. There's only, I think, was 189, 188 names. So it's highly targeted. So I created a small list. So I created a campaign for that small list. And that campaign consists of a two-offer letter of intent or a two-option letter of intent. And option number one is a full price, full market value price, seller-financed offer. And then the second option is a deeply discounted all-cash offer.

And it's enclosed inside of an eight and a half by 11 envelope. It's a white envelope with little red, white, and blue trim. It's very unique. It's going to stand out in the mailbox. So I'm putting that letter in there, along with two signed purchase agreements and a self-addressed stamped envelope. So I'm putting in two fully executed purchase agreements. Well, fully executed from my side, unilaterally have my signature on there. Their name and their property address and all the terms and everything.

And inside there will be a self-addressed stamped envelope. and the instructions on that cover letter with the two options, we'll say, hey, if you like what you see, go ahead and sign, go ahead and sign this, put it in the self-address stamped envelope, send it back, and we could be closed in as little as 14 days. So that's what it says. That's the marketing piece. So I've got that all prepared.

Then when I fire those off tomorrow along, I'm also going to fire off a ringless voicemail to every, everybody on that list that says, I think it says something to the extent, hi, this is Matt. I just mailed a white eight and a half by 11 envelope to you. My phone number is on the inside. If you like what you see, call me. Take care.

So I'm sending off that ringless voicemail. If you know what ringless voicemail is, it's, uh, it's just a recorded voice message that goes to cell phones to their voice message, but it lands there without ringing. And then it shows up on their phone screen as a missed call. And so they get a lot more interest rather than them just picking up the phone and starting to listen to a recorded message, which is obviously a recorded message. I guess this time and day it's nothing real new. And most people will probably guess that it is a recorded message. But at least it's just a little bit more in context or native to the phone that they would be expecting to hear a recorded message in their voicemail.

Right. So we send that off. And then three days later, a text message. will follow that reads, this is going to show up obviously on their phone. Hi, this is Matt. Did you receive my 8.5 by 11 envelope today? That's it.

And then based on those responses, I'll get on the phone with as many of them that respond that I can. And once we're on the phone, I'd have to start my way through that nine point seller interview and build rapport, sort the prospects from the suspects and from the prospects that I've built rapport with,

those prospects defined to me as someone that needs to sell in 30 days or less. That's just my definition of a prospect. I will set an appointment and go out and make an offer on their property. So that's the campaign, or at least the front end of it. Then 30 days later, I'll do it again.

The exact same campaign to the exact same list, 30 days later, but this time I'm going to raise my all-corps. cash offer by 10%. So it's going to look a little bit better. So I'm going to get a few more calls from people that didn't call me the first time. And I might even receive some signed purchase agreements in the mail. Who knows?

It happened when I did this with land. Did it with land and it didn't work really well. And so we're just going to try it with houses, see what happens. And then 30 days later, I'm going to launch that same campaign. again exactly the same. But this time, I'm going to raise my all-cash offer by 10% again. So it will be a little bit more enticing coming up. And then based on those that I get to talk to, set those appointments, and go out and make

offers. And then 30 days after that, again, I'm going to launch that whole campaign all over exactly the same. But this time, I'm going to send my original. offer. So the price is going to come way back down. And hopefully, the idea is that's going to get people scratching their head and wondering what happened. I thought we might go up again. Who knows?

Right? So all it is, it's just a campaign to get the phone to ring. That's all this is. Okay. And that sequence will put me in touch with all of the most motivated sellers on the list of which I will then. and refresh that list after that, that'll put me, what, four months down the road? Yeah, four months down the road, I'll refresh that list and boom, do it again. I'll go ahead and take whatever information I got, the feedback that I got, the, yeah, just basically the data that I collected.

And I might make some adjustments. I might not, but I'll continue to do that. I'll do it over and over and over again. So that's the marketing campaign that I'm running this week. That's what I'm getting started with. and then next Wednesday, when we're back here on the Epic Real Estate Investing Show, I'll go ahead and report back on my results. I'll tell you exactly what happened.

All right? And then I'll let you in on the next campaign that I'm going to lay on top of that. So I'm just going to take a one campaign at a time and just start layering these. I'll probably get to three or four different campaigns and just keep those running over and over and over. Getting my phone to ring and setting appointments so I can get out there and present offers. That's the name of the game, right? Get in the position to present offers. And so I'll share that all with you next Wednesday.

And Mercedes will be here with me. And I'll probably have a special guest for you too. All righty. So that is that. And again, I really appreciate you sharing this with your friends and family. This is your first time here. Stay tuned because I'm going to be sharing with you exactly what I am doing, what Mercedes and I are doing each and every week to,

invest in real estate and build our portfolio. Our goal this year is to add 20 properties to our portfolio. And I'm going to try and do it with all creative financing. I'm trying not to use any of my own cash. So we've pulled down, let's see pulled down. That sounds so official and tough, right? We've pulled down. Yeah, we've added four this year already. And so we got 16 more to go. And we're going to try and do the rest without using any of our own money. We used a little bit of our own money on the first couple. But the last one, we were able to get private money and borrow more than we actually

needed. So we actually put money in our pocket. So I'll walk you through each of those deals that we do. And I'll let you know all of the feedback on all of the marketing that we're doing. And so you can basically, you can copy and steal what we're doing and go use it in your market or not. or just take the good parts and apply those as well. But I'm going to give you the step by step and not, well, yeah,

the step by step, but all the little details so you can really duplicate it and implement into your business. All righty. So until next Wednesday, that's it for today. God loves you. And so do I. Good health to you and your family. Health is so important right now.

Peace. That's important too. And blessings. Boy, is that important. And success. That's important as well. All of those to you. I'm Matt Terrio, Living the Dream.

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