Episode 077: New Year New You! Are You Ready? • REI NETWORK

Welcome to the very first episode of 2022 – Happy New Year! Last time, we talked about goal setting, being prepared, and knowing your “why” when it comes to starting a real estate business. Once you have the foundation and you’re ready to take action, being brilliant at the basics of real estate is what’s going to allow you to build sustainable momentum. We all head into the new year excited and enthusiastic, and we want to maintain that throughout the entire year.

There are four things you need to be good at to master the basics: marketing, talking to sellers, making offers, and following up. The most important thing here is that, as long as all of these things are happening in your business consistently, they can be done by you or someone else, like a VA. When talking to sellers, you want to make sure you figure out what their motivation is for selling first. Then you’ll want to get their timeline to find out what kind of urgency is behind it. Next, you’ll need to know the condition of the property so you can get a good indication of price point. Lastly, you’ll come up with the price so you can then create and deliver your offer.

Click on the first link below to find out more about how our community can help you stay accountable and get results this year. Check out the other links to grab some free resources that will greatly assist you with your marketing strategy.

Watch the Episode:

What’s Inside:

  • The four things to master to be brilliant at the basics of a real estate business.
  • How to talk to sellers to uncover everything you need to make a great offer.
  • Information on coaching and free resources to make 2022 your year.

Hey, guys, welcome to the REI Network podcast with me, Gavin Timms. 

Hey, guys, how are you doing, Gavin Timms with REI network. How’s it going? Welcome back. This is the first episode of 2022. So I just wanted to wish everyone a Happy New Year. I hope everyone had a great Christmas as well, and I am excited for 2022. Over the last two years or more has been a little crazy. Hopefully this one is going to be better. I’m sure it is, and I want to make sure on this episode that you are ready for 2022. Now on the last episode, we talked about goal setting okay and being prepared, talking about your why. Why are you even doing this business, talking about where you are now? Where do you want to be and how are you going to get there? Also talking about your long term, medium short term goals to create wins and drive this business forward, so you should go and check out that episode if you didn’t already see it. Also, why are you here? Do me a favor for the new year. Make sure you like and subscribe your listen to the podcast. Make sure you get on the download list. And if you are listed on YouTube, make sure you subscribe to the channel. I appreciate it. My goal is to make sure I’m going to deliver as much value as I can in 2022. 

OK, so anyway, let’s talk about it. New Year, OK, New Year, New You and I will make sure that you are ready for twenty two. Now, obviously everyone has their New Year’s resolutions. They have where this is going to be different this year. This year’s My year and you come out, you get excited, enthusiastic and you’re ready to go. OK. And we need to maintain that throughout this year. And I want to talk about some of the basic things you. You need to be brilliant at the basics. I’ve done episodes on this before, but it’s so true every business needs a foundation. Just like building a house has to have a stable foundation for you to be able to build on. If the foundation isn’t there, then you it’s not possible to build. And that is the same in this business is that we need to be good at full things, OK, and I’m going to write them four things into little subcategories for you that you need to do this year. And this is a most this all needs to be done by you personally. It could be done by you and a business partner, you and your team. It doesn’t matter what real estate you’re doing if you’re doing creative or wholesale or virtual local flips. If you’re acquiring deals, these fall things absolutely need to happen in this business and there is no there’s no excuse is no it’s got some maybes. Absolutely needs to be done, OK? And there’s three things I teach a lot about when I’m working my clients and it’s very, very simple and that is is done by you, is done by someone else or it isn’t done at all. So it gets either you do it, someone else does it, or it doesn’t get done. And it’s very simple. When we break these basic things down, you need to categorize them into you, someone else or you choose not to do it. And obviously, we need to make sure it doesn’t get done is not an option, especially on the basic things. There is times where it doesn’t get done because it doesn’t really matter, you know, in terms of your business name or your websites and things like that, they that things that come that can wait, you can make money, hire someone else to do it, something that you don’t need to be focused on now. So make sure that you categorize the things that they’re talking about today and they go in to them buckets. 

All right. So four basic things. You’ve heard it from me before, but again, we just can’t overlook the basic things in this business because it is so, so important. So number one is marketing. We need to be getting leads. Every business need leads. It doesn’t matter if you’re fitting garage doors, it doesn’t matter if you’re selling cars, you’re buying motorhomes. Whatever it is, you need to have leads, you need to have leads to work. So no one is marketing and sales marketing business. Okay, we’re not in the real estate business. Remember that, especially when we’re looking for discounted or acquiring creative finance properties, no one is marketing for leads. That is so many ways for you to do that and you need to look at and we can talk about a few. Here is proactive marketing vs. reactive marketing proactive more like your text messaging, your cold calling reactive where the leads are coming in to you, your direct mail, your PPC, which is pay per click and your Facebook ads just as some as some examples and they have different price points. OK, one you can control one. You have to wait and wait for the phone or wait, wait for the lead to come in, although you can just do more of it. You can have. Again, this is a great way to outsource by having VAS call and text for you to generate leads, prescreen leads together into you or your. And again, that is going to be number one is marketing, again, we can outsource that to VAS. We can sell direct mail, we can hire people to run PPC. So we have options there where you can outsource a lot of that. But if we have no leads, we don’t have a business case. We need to make sure that then leads are coming in. And that is obviously what are we going to do with them leads, which is which is what we’re going to come on to next. Now, just before we do that in that marketing piece, I also want to talk about actually what lists that you could be using now. Obviously, I’m a big user of batch batch leads. OK. I mean, I like to pull this from there if you want, if you haven’t got batch already. I can give you five thousand free downloads in the link that I have. If you go to batch leads dot, I slash Gavin batch leads the i o slash Gavin to give you five thousand records. I actually just got a message from someone that use this link and they did two deals made 20 grand from it, from that pool. So it is great data and I do highly recommend it and that is where I actually do my skip tracing as well. And then you can also use another resource, which is Prop Stream V and Prop Stream Gavin dot com. You can have a fee free seven day trial there as well. So you should check that out as well. So that’s where I put my list. Now, obviously, I like to make sure that I have equity, so if I can have an equity list, let’s say that’s got 40 percent or more equity, plus the unknown unknowns, a little gold, a little gold tab. Therefore, you also lend to residents a lot to these 7+ years right now. Plus, unknown again, I like to multifamily single family duplex triplex quad. If I’m doing it for some of my markets, sometimes I will keep it 300000. Sometimes I won’t depend on what what I’m trying to do. So you can change kind of the current home value there. I like to instate in outstay absentee owner again. A lot of people say, Well, everyone’s work in this list, but it’s about the whole process of why are they going to do business with you and not someone else? Remember, this is a follow up business, OK? And you need to make sure that your almost every day you’re having conversations and you’re doing your follow up to actually get deals done. No one said that the locking up deals one off straight away unless they got that marketing coming in and is a PPC, which they may be paying three, four or five hundred dollars lead. OK, and then you got to make sure that you’re profitable. So I would say, you know, that’s a list I would pull and skip, trace, get Vas call and tax. And again, you can direct mail that as well, depending on your budget. So marketing that is going to be the number one cheat to make sure that you have in leads. 

We should note that you go on to number two, which is talking to sellers. Talking to sellers is something that I just don’t believe that you can miss. It needs to be done by you or somebody else. Or again, it doesn’t get done. And in this, I think there’s four things to make this easy for you that you need to find out. There’s literally four pillars that you need to find out. Number one is a problem slash approach. Sorry, the motivation slash problem is number one. OK. Finding out what’s the situation, what’s going on, why they can sell, sell and why they open to an offer and find out kind of what their situation is, is if they can. Is it been trashed? Is written in. They’re not paying all of these things. This is where are you going to gather this information? Okay. Number two is the timeline. The timeline is actually going to help you determine if, if it’s going to be more of a cash in a fast thing, or is it going to be more of a finance or not, depending on that time? So that time is all I need to sell right away. I wish you would have sold it before Christmas, like I need to do it now. This is urgency or is not in any roads. Does it really matter whenever not really bothered? They can determine on that cash or get into that create finance offer. So number two is timeline number three is condition of the property. Now this is going to give you again a good indication of the price point in terms of do you need to cash out what your offer? You’re going to be lower on your offer. Can you come up on your offer based on the conditions, so you need to find out all the bigger item repairs, like how old is the roof? You know, the AC? When was the last time the kitchen was updated in the bathrooms? There all the bigger things we already know my needs carpet, not mine, need floor and it might need paint. That’s just standard wear and tear on the property, but we want to know all the bigger items to see how old it is. And again, is it vacant of living? When was the last time there is never going to be pictures, things like that. And that’s going to give you a good indication of how the condition of that property to understand again will offer to make then number four is the price. The price is the hardest thing. To to get out of someone and you want to do your best to try and drag that out, now, there is some things that you can use techniques. For instance, one that I like is saying something like, Hey Mrs. Olin, we could reach, you know, the the price that works for both of us. How much have I got last? Oh, how much shy of you got left? Or how much have I got to pay off at closing on your mortgage? That might give you an indication what’s left on the mortgage to than how much room is in this deal. Potentially if they sell, we have eighty thousand. It’s going to be about a hundred or it’s free and clear. Instead of asking, Do you have a mortgage? If you say, Hey, what have I got to pay off at closing, you might actually get that answer to that again. How you position OK, we have no equity here, so it might be harder to make this offer if they have to bring 20 30000 to the table themselves. And if you know that situation, that’s not possible, then again, you can angle into that creative finance. OK. So they are the four things motivation, problem, timeline, condition and price. OK, so talking to sellers is an absolute must. Then you’ve probably worked it out well. What do we do after that? 

Number three of our brilliant at the basics is making offers now, making offers. If you’re not making offers, you’re not making money. OK, that is a fact. You have to make an offer to get a contract signed again. Facts. So you need to get in the habit in twenty twenty two to start making office. Your goal should be at least try to have five prescreen call qualification leads and making three offers that you need to be. You need to be doing and doing that every single day and then getting that effective. If you if you make 15 offers a week, 60 offers a month, 120 offers in two months, 180 offers in three months. You have to be doing deals again, you have to be based on them numbers. So that is going to be a good target for you to hit this year. A space it your store and you’re trying to do a deal or deals, OK? And then you build on that and your team will, as you are then getting 10, 12, 20 offers that day or whatever it is that you want to build to. And then number four is the follow up. So once we have the first three, let’s go through real quick is number one is marketing to get the leads. Number two is talk to talking to sellers to get in the right information, which then allows us to make the appropriate offer that’s going to best suit and solve the situation of the seller. Remember, we are a property solutions company with that to solve problems. 

OK so, after we made that offer, we’re then going to follow follow follow up. Okay. And this might be a two month, two week, a six month follow up, two year follow up. Okay, until you get that deal, building that rapport, building that relationship with people. OK. And and you keep doing that till you get contract side. And that is obviously the four major basic things that you need to do. And as you’ve got a contract, then you know you need to be networking with cash buyers, with wholesalers, with property managers, with relatives to get these deals moved. If it’s on the cash, obviously on creative finance as well. People, you can sell wholesale trade finance deals, whatever your exit strategy is, but you’re a marketer before you’re an investor. And if you become a good marketer to get these properties under contract, okay, then you’ll be able to pick the best exit strategy for you and go ahead and fix and flip, buy and hold whole tale. Great finance. Keep it yourself! Double debt family’s lease options double debt sell to an investment. So many things that you’re in control of that and that is on sale on the investor side of that, you know, disposition of that deal. But you have to be a deal, find another deal, create an account. And if you can do that, basic things this year, you’re going to go into new levels, new limits, okay, into this business. And then you will be able to then pick what you want to do and you will be able to pick what you flip, right? Pick the best and wholesale the rest. That should be a goal that you are trying to do based on that. OK, and then one more thing I’m going to talk about here now we’ve talked about the basics. You kind of broke them down and that’s what this business is. We didn’t talk CRM in that way. We didn’t talk about automation. We didn’t talk about too much detail in the things that don’t really matter right now. We’ve got to get them basic things right and build on that. And then you can start building systems, OK and building on that with business partners or teams of VAS and things. But it doesn’t matter who’s doing it. Remember, you do it. Someone else does or doesn’t get done. And with too many people in the doesn’t get done and all of them full of things if you’re going to make money in this business. Has to be done by you or somebody else. Well, that’s it. No results to remember that. And now we’re told real quick as well the capabilities. New Year, New you, you’re going to come out excited. Okay, you’re ready to go. You’re burstin, ready to take this on by storm. And that’s great. The energy’s high. It’s a new year. This is this is your year. And now you need a capability to make sure that you stay there. Okay? 

And I just wanted to offer real quick. You can reach out to me as this goes out. If you’re watching the replay of this, then this might not apply later on. But in the first week of the year, we’re going to be offering last year’s prizes to the coaching program if you’re interested in getting involved. We go live every day. We’re building a great community, getting fantastic results. Great group of people that need that you need to be involved in to help you and be accountable. If you’re interested in that, make sure you reach out. You can email support our network. You can find me on social media, send me a private message on there as well. Obviously, there’s an investment in that, but I do have a lot of free content as well. So I’m not here trying to pitch you into that. It’s how they’re going to be a good fit or not. But if you want to be held accountable, you want to get results in this business and actually make it a success, then I should definitely say that we should definitely have a conversation and see how that goes. OK, awesome. Also, you can do an application. Go to REI network dot com slash join, OK. REI Network dot com slash join if you’re interested in that. OK, awesome guys. So there we have it. All that’s left for you to do now is to do your marketing plan. Okay, we talked about it in the last session, but making sure that you have your zip code, your counted it, you know exactly what marketing that you’re going to do. You’re going to have exactly who is going to do that marketing you a VA business partner, an acquisition, a family friend, whatever, who is going to do that marketing, you’re going to then on your marketing plan, you’re going to generate X amount of leads per day. You’re going to make X amount of office per day. That means it’s going to allow you to do X amount of follow up per day as that comes back around. And as you get at least 30 days out, you should be constantly following up with these leads. Okay, as you go through that motion, then you will build. Remember that order the lead, the better the lead, the more seasoned that lead is, the better it is. OK, and we’re going to have some cool things and cool offerings throughout this year as well, not only working mothers, but maybe doing some deals with you guys, the listeners. So I’m super excited, excited and remember, give us a like subscribe and watch out for more content. And if there’s anything that I can do for you, OK, if you want to leave a comment and say, Hey, can you do a video on this or a video on that, I will do my best to fulfill that for you and make that happen. So reach out and I’m willing to any training videos that I can. I can put them on YouTube or turn them into podcasts for you guys to help you through two thousand twenty one. So again, let’s have a great year all the best, and I will talk to you all soon. Have a good one. Thanks, guys. 

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