Welcome back to the Rewind Show! I’m Katie, and along with my co-host Patina, we’re excited to dive into this week’s highlights. We’ll touch on the golden nuggets, big “aha” moments, and everything in between. Don’t forget, all our notes can now be found at propelio.com/rewind. Let’s get started.
Monday: Daniel’s Show
Daniel’s show kicked off the week with an incredible story of a $300,000 assignment fee, earned by newbie investor Aaron Sokka. This deal was a game-changer, not only for Aaron but for many viewers tuning in.
Aaron’s Journey
- Lack of Experience: Aaron didn’t have a clue what he was doing. He literally Googled the contract and pieced it together.
- Networking Power: Aaron’s success was largely due to his networking efforts. He finally found someone interested in his $1.5 million commercial building.
Key Lessons
- Buy the Numbers: Daniel emphasized buying based on numbers, not emotions or property details.
- Networking is Crucial: Relationships and networking are the backbone of such deals.
Cory’s Show: Cold Calling Old Bandit Sign Leads
In this episode, Cory Thompson shared insights on flipping old bandit sign leads, revealing techniques and tools like the Fly app and Rebo Gateway.
- Fly App: Manages all calls and texts from bandit signs.
- Double/Triple Callbacks: Majority of calls answered on the second try.
- Standout Tactics: Cory sends selfies to remember.
Key Lists and Strategies
- Divorce Lists: A treasure trove for cold callers.
- Old Numbers: Don’t discard them; you might get a call months later.
- Bandit Signs: Putting out over 200 signs weekly is a standard practice.
Carlos Reyes on Ryan & Casey’s Show
Carlos Reyes shared his incredible journey and systems, stressing the importance of having a “why” beyond just making money.
Carlos’ Background and Systems
- From Bandit Signs to Big Success: Went from putting out bandit signs to a $100,000 marketing budget.
- Resourceful Tools: He shared a plethora of resources, including:
- NRRPR.com for comps.
- CallRail for numbers.
- PodIo for management.
- ReboGateway.com for data.
- InvestorAutomation.com for CRM.
- CashBuyersPlus.com for finding buyers.
- CallGeeks.com for cold callers.
Importance of a Bigger Purpose
Carlos emphasized that financial success should be a byproduct of a bigger mission. Money alone shouldn’t be your sole motivation.
Grant Cardone Show: 3 Steps to Free Leads
Grant’s episode focused on strategies to source free leads. The three steps he outlined were invaluable:
Steps to Free Leads
- Self-Evaluation: Know your strengths and areas of improvement.
- Networking: Build relationships and leverage them.
- Getting Paid: Understand how to structure payments for various roles.
Additional Tips
- Return Mail: Skip trace return mail for potential leads.
- Burn Old Numbers: Avoid it; past numbers can spring surprises.
Commercial Cash Flow: Being a Passive Investor
Ronnie Phillips and Kenny Wolf discussed the nuts and bolts of being a passive investor in multifamily syndication with legal expert Duke and Kelly.
Key Concepts
- Accredited vs Sophisticated Investors: Understand the differences.
- Operating Agreements: Ensure thorough review.
Experience and Trust
Vet your sponsors and ensure they’re people you trust. Background checks are crucial.
Steve Trang Show
Steve Trang shared his impressive journey and the breadth of his business, aiming to create 100 millionaires through real estate.
Steve’s Business Strategy
- Going Horizontal: From wholesaling to title services, Steve has a comprehensive approach.
- Importance of Relationships: Networking remains at the core.
Recommended Books
- You Can’t Teach a Kid to Ride a Bike at a Seminar
- The Laws of Human Nature
Jay Lee and Kristen hosted Scott Morin, who unpacked social media strategies for effective real estate marketing.
Facebook Strategies
- Friend List Segmentation: Target specific audiences effectively.
- Multiple Accounts: Max out friends on several accounts.
Painting Games: Budgeting & Working with Contractors
Kelly and TJ hosted Ron Carlson and Yalitza Mora, discussing the intricacies of budgeting and working with contractors.
Key Insights
- Main Components: Electrical, plumbing, foundation, HVAC, and water heater.
- Benefits of Hiring General Contractors: Knowledge, wholesale pricing, and permit-pulling.
Pro Tips
Always budget an extra 10% for unforeseen costs.
Fire Damaged Properties with Lily
Elizabeth and Debbie’s show featuring Lily Kodana offered invaluable insights into handling fire-damaged properties.
Key Takeaways
- 70% Rule: Stick to it to ensure profitability.
- Longer Timelines: Expect renovations to take 4-6 months.
- City Inspections: For properties with over 40% damage, get them inspected.
Detailed Examination
Understand the cause of the fire to better assess risks and plan renovations.
Final Thoughts
What a week it’s been on the Rewind Show! From handling multimillion-dollar assignments to mastering social media for real estate, we covered a lot of ground. Whether you’re a newbie or a seasoned investor, there’s something here for everyone. Don’t forget to check out our detailed notes at propelio.com/rewind, and as always, share your favorite moments and key takeaways. See you next week!
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