Epic Real Estate Investing - The 3 "Acts" of Successful Real Estate in a Shifting Market | Episode 217

Episode Date: August 15, 2016

By now you probably know that the real estate investing market is shifting.  That shift can be viewed as a crisis or as an amazing opportunity!  Which will you choose?  Most people fear change and are making poor business decisions as the investing landscape adjusts.  To set yourself up for success it is wise to start doing the opposite of what most other investors are doing right now.  Today Matt shares the current strategy the Epic team is using to attract sellers and do more deals than ever before!  Enjoy! ------- 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. And welcome to Epic Real Estate Investing, the place where I show people how to escape the rat race. Using real estate, just got to shift your focus from making piles of money to making streams of money, change that one thing just one time, and you are on your way to financial freedom. Not the most exciting path. Now say it with me. but it is the fastest, right? Absolutely.

And I know you hear this each and every week. And I know you're like, okay, just get to it. I got the intro. You might even fast forwarded through the intro. Now you're used to doing that, right? But are you doing it? Has your focus actually shifted? Because there's one thing to know.

Then there's one thing to know and do. In fact, those who know and don't do don't know, right? You've all heard that before. So it's not the most exciting path to pursue that stream of income, but it is the fastest. and once you get their life then becomes exciting. Got it? And speaking of exciting, the epic intensive in Los Angeles,

specifically now, it's Redondo Beach. It has sold out. Sold out. And it sold out before we ever got to launch our actual promotion. And actually, we have oversold the event. How do you do that? Well, you leave it all up to, you leave a guy like me in charge of the technology.

It was supposed to cap out at 50, and we blew right by that and didn't realize it until we hit 80. So I'm having a little bit of a fight with my accountant at the moment. We've had to upgrade the venue to accommodate everybody, and she's really annoyed by the pricing. Anyway, it is what it is. But because we had to upgrade the venue, we now have room. We have some room for some more people. And so what I'm going to do is this. I'm going to spice this up a bit.

I'm going to run a little bit of a contest here and give tickets to two winners, plus a guest, and this also includes a one-year membership to the Epic Pro Academy, and I'll announce the winners right here next Monday on the show. So we've got one week to do this. So this, it's your chance to win a seat for you and a guest at the Epic Intensive. So to win, it's only going to take a couple of minutes. All you've got to do is answer one question, just answer one question and go to our private Facebook group or our Facebook page, excuse me, to answer that question.

It's Facebook.com forward slash Epic Real Estate Investing. Facebook.com forward slash epic real estate investing. Make sure you get the investing there at the end. So you're on the right page, epic real estate investing. And under the epic intensive post, it's going to be pinned right there to the top. So it should be the very first post you'll see. And I want you to tell me one thing. Why do you think working with me for two days on motivated seller lead generation,

marketing automation, creative deal structuring and leveraging other people's money, why do you think working with me for two days on that can help you create a thriving real estate investing business. And I want you to just notate that, you know, if you're particularly excited about finding motivated sellers in the shifting market or automating your marketing so you don't have to work so hard or just overall escaping the rat race, then let me know exactly which part of growing a real estate investing business is going to have the most impact for you and what's the most exciting. All right, that's it. Entries with more specifics, they've got a much better chance of winning. So I want you to get specific. And on this coming Saturday and Sunday, I'm going to go through

every single one of your responses and award a winner on Monday's episode. So right now, after this episode, go to Facebook.com for slash epic real estate investing and tell me why you think this two days would help you escape the rat race, increase your monthly revenue and get you to the next level quickly. Got it? So for today's episode, as we're, you know, we're moving into this shifting market. You're going to have to shift with it. Okay?

If you don't shift with it, you're going to be left behind. And a big part of this shifting market is the excitement about it because properties are appreciating. And real estate seems to be the hot, sexy new investment these days. This is the business to be in. And it's drawing in new players left and right into this business. You know, real estate investing education businesses are booming right now. You can tell by all the events that are being promoted, such the intensive. You can tell by all the infomercials.

You can tell by all the daily webinars. I mean, real estate is back in a big way. and everybody wants a piece. So with that said, you're going to have to stand out above the crowd and you have to cut through all the noise, garnering for your real estate deals. And this is the primary theme of the epic intensive, how to adjust for this shifting market, the new and creative ways in finding deals and the new and creative ways

and profiting from them. So this new shifting market, it can be viewed as a crisis or cause for emergency or concern or worry, depending on where you are, or maybe it could stop you from getting started at all. Or this shifting market could be viewed as an amazing opportunity. You know, most people, they're terrified of change. And, you know, I kind of hate to admit this, but I got to. Most people get very stupid when they're panicked.

When emotions rise, intelligence tends to fall. I mean, this can be easily evidenced by the many sheeple still among us. They're everywhere. Worse, they're really going to be everywhere during an emergency, which also means that they're most likely directly in your way, specifically, when you know darn good and well what needs to be done. The good news is that people, especially the unprepared, they're very predictable. In fact, they're either going to attempt to live life as if everything is normal until forced

to do otherwise, or they're going to outright panic when perhaps panic is the very wrong answer. You can and should use this knowledge to your advantage. There is an amazing opportunity before you right now because you're listening to this. You're listening to something different than everything else that is out there right now. And what I mean by that? Well, specifically, I'd advocate that you do exactly the opposite of what everyone else is doing during this shifting market. And I'd double down on that advice, assuming that that you're even remotely prepared for it. Granted, there are some very specific instances

where you should do what everyone else is doing, such as running away from an incoming tsunami while napping on the beach, but by large, do the opposite. I mean, that is the key to success. I mean, if you really want the key to success, start by doing the opposite of what everyone else is doing. I mean, even when an emergency isn't involved, For example, if most people hit the snooze button first thing in the morning, eat fried meals throughout the day,

and lounge in front of the TV for hours on end when coming home from work, just do the opposite of what they do. And you'll quickly discover just how powerful this secret to success really is. And this is more than just some armchair rhetoric or some cliche, because I know this isn't the first time you've heard this, but perhaps this is the first time you're actually going to act on it. you know this advice can be proven by just the basic logic of supply and demand the more people do something the less valuable that something is or the less valuable of what they're doing is so a great way to be outstanding and valuable is to do what others aren't doing or what most can't you know another example is you know the average translation salary for a translator

for Spanish is 24,500 but if you can't translate Arabic, you can double that. Well, almost double. It's 41,700. So most people, there's a lot of people that can speak Spanish, but not many people that can speak Arabic when it comes to the United States and being a translator in that profession or being taken on that profession as a translator. So as far as real estate goes, look at what your competitors are doing. Can you do something radically opposite? I mean, if they're trying to be all-inclusive, can you be exclusive or vice versa? Doing the opposite of everyone else, what, what, everyone else is doing is valuable. Doing the opposite of everyone is valuable. Now, specifically when

it comes to your real estate investing business, you know, let's let's narrow in now. Inventory is shrinking and there are more people right now fighting for that shrinking inventory. So, so let's look at what they are doing and analyze where you can do the opposite. And, you know, here in our office, we've created a new marketing approach. We started this about 12 months ago now, based on doing the opposite of what everyone else is doing. And we've been looking for an actual name to our approach. So we called it the three acts of epic marketing. And that's our working title.

But we all know our internal language, our internal communication here in the office, is the three acts of epic marketing. So acts, acts one. And this is probably the most dramatic example of doing the opposite of what everyone else is doing. When marketing, stay focused on attracting motivating motivated sellers. Attracting motivated sellers. So attract. That's act one. I mean, if you focus too

much on chasing, if you focus too much on closing the deal, if you focus too much on getting paid, just like most people do, you can actually repel sellers from you in this type of environment. And the more people, the more new people that get into this business, the more people there will be out there chasing sellers. So focus on attracting them instead. That would be the opposite. on attracting them within all of your marketing methods and really all of your business practices and all of your operations that would even involve interacting with a seller. And to do that, what you need to do is you just need to keep your focus on what's in it for them as opposed to what's in it for you.

Remember, a motivated seller is motivated because they've got a problem, right? That's why they're motivated because they've got a problem. So be the person that can solve their problem. That's your job description, problem solver. I mean, as much as you may think it's deal crusher, it's not. Not in this business when dealing with private sellers one-on-one. By taking a more consultative approach in your marketing, a more consultative approach in your conversations with sellers, the opposite of what everyone else is doing, the more you do that,

the more you're going to stand out. Another way to attract sellers is to put yourself in the shoes of the sales. seller right and notice what would attract you if you're walking around in the seller's shoes what would you be attracted by for example the next time you go to your mailbox and you start shuffling through your mail look at your mail that clump of mail and notice which mail piece stands out to you is it the yellow postcard you know i'm an absentee owner i've got a lot of property so i get a lot of absentee owner mail and i'm telling you i've changed everything because I just blow right by all the postcards. I'll look at the name to see if it's being

sent to me by someone I know. I get one from a student every once in a while. But, you know, is it the yellow postcard? Is that what's standing out to you? Or is it the birthday card you received from your grandma? Or is it the notice from the IRS? Did that stand out to you more? Or is it the brochure from your local dry cleaners? Is it the newsletter from the Chamber of Commerce? Is it the piece of mail that looks like it was originally delivered to the wrong address and now has the correct address handwritten on it? Or is it the priority mail envelope that looks like it has been to hell and back and it's been resealed with yellow security tape? What mail piece is attracting you? What mail piece caused you to pause and actually read? I mean, in each one of these little

examples lies a clue as to how you might want to start modifying your mailing pieces. So when you go through the mail today and for the rest of the month, pull those pieces that stand out, pull those out of the stack, set them aside. And at the end of the month, analyze all of the pieces and look for clues. What's there that you can use to attract sellers to open your mailing pieces? I mean, there's a lot of mailhouses out there that'll do custom work for you. And there's a lot of stuff out there like the lumpy mail. Like that's going to make it stand out.

It certainly makes it stand out. It still works today. That's an example. You put a key or something, something heavy inside of the mailbox and that, you know, makes it heavy. That definitely makes it stand out. And there's all kinds of little, I don't know, I guess you call it quote unquote gimmicks. Because that's really what they are. They're gimmicks to get the seller to open your mailing piece.

But look inside of the mail that you actually receive every day. And maybe there's something easier and less expensive to do just because, you know, just notice what you're attracted to. Okay. So that's act one. maintain a seller attraction mindset got it act one seller attraction attraction mindset act two now another thing the majority of people don't do or i guess the majority of the people the things that do is they generate leads and they don't call them and that's act two you have to contact the leads you generate 48% of real estate investors never call their leads.

They never even give them one call. 25% of real estate investors make a second call and then they stop. These stats, they come from the National Sales Executive Association, by the way. Only 10% of real estate investors make more than three contacts. Only 10% make more than three contacts. And get this. 80% of the deals are made somewhere between the fifth and 12th kind. Do you see the gap there?

When 90% of all real estate investors make three contacts and less, but 80% of the deals are done on the fifth to 12th contact. So if the majority of the real estate investors are making less than three contacts, if you do the opposite and make 12 plus, the stats say that 80% of the deals will belong to those that do. That would be you. You know, at MIT, different study. they conducted a study about lead generation, and it was revealed that when you called a lead within 60 seconds of receiving it, your chances of converting increased by 500%. When you call a lead within 60 seconds of receiving it,

your chances of converting it increase by 500%. That same study revealed that the first person to contact a lead has a 238% successful conversion advantage. So you've got to be fast. Not only do you have to contact them, you've got to contact them quickly. That's the opposite of what everyone else is doing. That study also said,

72% of all leads are reached after two calls and 48% of them never receive a second call. So that MIT study very much in agreement with the National Sales Executive Association study. So to do that, the opposite of whatever else is doing, you make 12 attempts with every lead that you generate at least and make that first contact as fast as you possibly can. So that's act two, contact.

Act three, contract. And although this has been a standard practice of mine for a while, I've talked about here several times on the episode or on this podcast, still the majority of the people out there they just don't do it. And that's send a written contract to every lead that you make. contact with and to take a step further in doing the opposite of what everyone else is doing here in our office we provide multiple options within each contract and that right there has doubled the amount of deals that we do per month by not just sending out

contracts but providing multiple options within that contract it's been a total game changer for us in fact just this past week posted in the academy's private Facebook group, Logan, he posted, been using Matt Terrio's three option letter of intent, and that has been a game changer. His exact words, game changer. So those are the three acts of epic marketing and how we are staying ahead of the competition and having our strongest months right now. August is set to be our biggest month in the last 12 months, very much because we paused a while back to analyze what everyone else was doing and looked for places where we could do the opposite.

You know, right now, it seems that everyone is trying to wholesale. And I'm noticing an emerging trend in everyone wanting to do multifamily properties as well. So if you know everyone wants to wholesale and you're noticing a ton of people are flocking to multifamilies, all right, so where in there is an opportunity? And that's a national observation of mine, by the way, nationally. And as we all know, real estate, it's a local thing.

So what is everyone doing in your market? Let's start there first. Let's stay close to home. Where's all the competition in your market? How are they going about it? I mean, is everyone holding? Is everyone selling? What do you notice?

What do you see? How can you do the opposite? You know, the greatest investor of our time is famously known for saying, be fearful when others are greedy and greedy when others are fearful. Sounds like doing the opposite to me, right? Mr. Warren Buffett. Yep. Sounds like doing the opposite.

Okay. So I'd love to see you at the Epic Intensive. I'm giving away two free tickets plus a guest you can bring with you with each ticket and a one-year all-access membership to the Epic Pro Academy. Go to Facebook.com forward slash epic real estate investing for all the details and you can enter there. All righty. So until next week, 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-sweet Radio. com.