Finding motivated sellers, curating effective lead lists, and closing deals are the keys to success in real estate. Carlos Reyes, a self-made entrepreneur and real estate expert, has built a flourishing business by mastering these fundamentals. Through persistence, smart marketing, and a powerful shift in mindset, he turned his initial struggles into a thriving empire. Here’s a breakdown of his insights and actionable strategies for building a real estate business.
From Corporate America to Real Estate Freedom
Carlos Reyes began his journey in corporate America, working long hours with hopes of climbing the ranks. However, office politics derailed his career after he was passed over for a leadership role despite being the most qualified candidate. This experience left him feeling defeated and stuck, eventually pushing him to rethink his future.
In 2016, on his birthday, Carlos took a leap of faith. Quitting his 9-to-5 job, he decided to pursue a career in real estate full-time. But this wasn’t an impulsive decision—it was a calculated transition. He first scaled back his hours at work to 7 AM–3 PM and used his evenings and weekends to build his side business. This small but critical shift allowed him to focus on activities like placing bandit signs and generating leads.
The First Step: Grit and Bandit Signs
Carlos’ entry into real estate was far from glamorous. He started with bandit signs—those handwritten signs you see on street corners advertising “We Buy Houses Cash.” Every Friday night, from 11 PM to 2 AM, he planted as many signs as possible, often battling Arizona’s dry, compact soil.
Over six months, he distributed 2,400 signs, landing his first deal for $5,000. That moment changed everything. It wasn’t just about the money—it was proof that real estate could work. This early win gave him the motivation to go all-in, transitioning from balancing a full-time job to dedicating himself entirely to real estate.
Turning Marketing Challenges into Opportunities
Carlos quickly realized the importance of marketing in building a real estate business. In his words, “Marketing is the bloodline of any business.” However, like many beginners, he initially saw marketing expenses as a financial burden. Over time, he learned to view marketing as an investment—a mindset that dramatically transformed his results.
His first breakthrough came when he and a partner spent $2,500 on a direct mail campaign targeting Hispanic property owners with high equity. That campaign alone generated $60,000 in revenue. Encouraged by this success, he reinvested in marketing and fine-tuned his methods. Over two campaigns, they grossed $90,000, solidifying the importance of consistent lead generation.
Marketing: Paid and Free Strategies That Work
Paid Channels:
- Direct Mail: Target high-equity homeowners, absentee owners, and properties with no recent sales activity.
- Pay-Per-Click (PPC): Google Ads proved to be a game-changer for Carlos, delivering an 11x return on investment in some markets.
- Cold Calling: While it can yield results, cold calling requires significant effort and may have a higher cost-per-deal compared to PPC.
Free Channels:
- Craigslist and Zillow Offers: Scour these platforms for motivated sellers in the “For Sale by Owner” sections.
- Driving for Dollars: Drive through neighborhoods looking for distressed properties and contact the owners.
- Facebook Groups: Join local yard sale or community groups to advertise your services.
- Word of Mouth: Let everyone know you buy houses. Social media platforms like Instagram also work wonders for visibility.
The Importance of Data and Tracking KPIs
One of Carlos’ defining strategies is tracking Key Performance Indicators (KPIs). By closely monitoring his marketing efforts, he knows where to spend more and where to cut back. For example, if a direct mail campaign produces a 10x return in one quarter, he doubles down the following quarter. This approach ensures consistent growth and maximizes marketing dollars.
For beginners, Carlos advises starting small and tracking ROI for each campaign. By analyzing cost-per-lead and cost-per-deal, you can refine your strategy over time. The goal is to identify what works and reinvest in those areas.
Finding the Right Lists and Leads
Building a high-quality lead list is the foundation of successful marketing. Carlos shared several types of lists to target:
Essential List Types:
- High Equity Owners: Start with 20–30% equity rather than 50%, especially for sub-to deals.
- Absentee Owners: These are often landlords with properties they no longer want to manage.
- Tax-Default Properties: Target homes with delinquent taxes for motivated sellers.
- No-Data Transactions: Properties with no recorded sales price or transaction date are often overlooked.
- Senior Owners (55+): Seniors with high equity may be more willing to sell quickly.
Use tools like ListSource to pull these lists and combine data points for better targeting.
Once you have a list, skip tracing is the next step to find owner contact information. Carlos recommends working with reliable providers like NeedToSkip, which offers high-quality, accurate data. Always prioritize match rates (correct matches to specific people) over hit rates (how many results were returned). This ensures you’re reaching the right individuals first.
The Role of Cold Calling and Virtual Assistants
Cold calling remains a viable marketing channel, especially for beginners with tight budgets. Carlos emphasizes the importance of keeping calls simple and conversational. Your tone and approach during the first four seconds can determine the outcome.
Outsourcing cold calling to virtual assistants (VAs) is another way to scale your efforts. Carlos suggests hiring VAs through platforms like All-In Dialer, which offers cost-effective solutions for managing call campaigns.
Lessons in Scarcity vs. Abundance Mindset
A critical turning point in Carlos’ journey was shifting from a scarcity mindset to an abundance mindset. Early in his career, he hesitated to invest in marketing, even after seeing high returns. Over time, he learned that reinvesting profits into the business—not personal luxuries—was the fastest path to growth.
For example, despite generating nearly $800,000 in monthly revenue, Carlos pays himself a modest salary of $10,000. The focus remains on expanding his company and creating long-term wealth.
Take Action and Master the Follow-Up
Success in real estate isn’t just about finding leads—it’s about mastering follow-up. Carlos reminds investors that the majority of deals come from persistence. Whether it’s a phone call, email, text, or direct mail, staying top of mind with potential sellers is crucial.
Final Thoughts: Build Your Road to Financial Freedom
Carlos Reyes’ story is a powerful reminder that persistence, smart marketing, and data-driven decisions can transform your life. From planting 2,400 bandit signs to running a multimillion-dollar real estate business, he proved that hard work and calculated risks pay off.
If you’re just starting, focus on small wins. Test strategies, track results, and reinvest in what works. Real estate success doesn’t happen overnight, but with determination and the right approach, you can build the life you’ve always wanted.
