Welcome to this week’s edition of The Rewind, where we recap all the Propelio TV shows. Whether you’re a seasoned investor or just getting started, our weekly review helps you pinpoint which episodes are worth your time. Let’s dive into the goldmine of information shared this week.
Daniel’s Show on Water Leads
Daniel kicked off the week with a revisited episode on water leads, a hidden gem for real estate investors. A year and a half ago, this topic gained immense popularity, prompting a deeper dive this time around.
Reasons for Water Shut Off
- Can’t afford the water bill
- Moved
- Pipe burst
- Sold the house
Three out of these four reasons can lead to lucrative opportunities for investors. The key is to systematize the process of obtaining water leads, which Daniel has done meticulously. This meant fighting legal battles and overcoming obstacles from the Texas Utilities Code.
Getting Water Leads
- Request from city secretary or city attorney: Contrary to what one might think, water leads are not requested from the water department but from government officials.
- Specific system and wording: Daniel emphasized the importance of accuracy in language to ensure compliance with legal standards.
Unique Lead Sources
One of the standout lessons was to find something unique that no one else is doing, just like Daniel did with water leads. If water leads become too mainstream, find another untapped source.
Roughneck 2 Real Estate Show
Corey Thompson hosted an exciting episode that featured a newbie making a $14k profit in just 30 minutes. This story is a testament to the power of action over endless planning.
Quick Profits from Action
- Driving around and taking action: The guest found a property, made an offer, and closed within a short span.
- Listed on Facebook Marketplace: Sold quickly and profited $14,000.
Lessons from Losses
Corey also shared a personal story about losing money on a deal but framed it as a learning experience cheaper than paying a guru. This highlighted the invaluable lessons learned through experience.
Importance of a Great Team
Building and managing a reliable team can make or break your investment journey. Corey stressed this point by sharing his success stories.
Casey & Ryan’s Show with Artist Tanner
Entrepreneur and artist Tanner was the special guest, showcasing how an artistic mind can thrive in the business world.
Art Meets Business
- Business Mindset: Tanner approached art with a business mindset, focusing on creating quick, sellable pieces rather than aiming for museum accolades.
- Expanding Your Network: He emphasized the importance of networking outside of your industry to find potential clients.
Giveaway: Story of Love
Tanner is also giving away a painting to the person who shares the best “story of love” in the YouTube comments section of the episode. A unique approach to community engagement!
Learning Commercial Real Estate with Marty Wieder
This episode was a treasure trove for those interested in commercial real estate. Marty Wieder, the Economic Development Director of Grand Prairie, shared invaluable insights.
Economic Development Director’s Role
- Essential Resource: Marty explained how economic development directors are pivotal in guiding where growth will happen in the city.
- Incentives and Information: The city offers valuable data and incentives to attract investors.
Importance for Residential Investors
Residential investors can benefit hugely by understanding city plans and future growth areas, making their investments more strategic.
Commercial Cash Flow Cash Show
The focus this week was on the importance of property management, especially for large units (70+ doors).
Professional Management for Big Units
- Property Management: Crucial for properties with 70+ units. Smaller units may not justify the cost.
- Local Knowledge: Property managers with local expertise can offer invaluable insights, from avoiding issues with local codes to understanding market dynamics.
Real Estate Business Mastery with Michael Zuber
Michael Zuber joined to talk about his unique approach to building a rental portfolio, aptly summarized in his book, “One Rental at a Time.”
Building One Rental at a Time
- Step-by-Step Approach: Michael’s journey focuses on acquiring one property at a time, making the process less daunting.
- 6 Steps to Success: Learn the market, understand the numbers, define buying criteria, build a team, review goals, and assess past deals.
Firing Quickly
One of the practical tips was the importance of firing employees quickly if they are not a good fit, a crucial step in maintaining a productive team.
RE Divas Show on Section 8
This episode aimed to demystify Section 8 housing, often viewed with skepticism.
Advantages of Section 8 Tenants
- Guaranteed Rent: Payments are deposited on the first of every month.
- Difficult to Move: Tenants avoid damaging properties or missing payments due to the complex process of obtaining a Section 8 voucher.
Inspection Process
Regular inspections ensure properties are maintained. Knowing these details can help landlords maximize the benefits.
Advertising Tactics
Placing ads in free publications and on platforms like Craigslist helps attract potential Section 8 tenants.
Mr. Texas Real Estate Lead Generation
This episode was a masterclass in lead generation, featuring various methods to secure deals.
Deal Machine and Postcards
- Persistent Mailings: Using Deal Machine for targeted mailings, with persistence being key (up to 10 times).
- Billboards and Leads: Even traditional methods like billboards can yield results.
Networking Strategies
Dividing and conquering at networking events can maximize your reach and effectiveness.
Donovan Show on Mindset
Donovan’s short episode focused on the power of a winner’s mindset, providing actionable steps to achieve this.
Winner’s Mindset
- Importance: Treat every project with the mindset of winning; there’s no room for self-doubt.
- Surround Yourself with Success: The five people closest to you impact your growth. Choose wisely.
Goal-Setting Components
Set realistic, achievable goals with clear plans and timelines.
Pain & Gain Show
TJ and Kelly dissected different financing options, comparing cash, partnerships, and bank loans.
Cash vs Traditional Loans
- Cash: Quick but limited.
- Traditional Loans: Lower interest rates but longer closing times.
Partnership Role Definitions
Clearly defining roles and expectations in partnerships can prevent misunderstandings and disputes.
Networking Tactics
Identify what you need (time, money, experience) and focus your networking efforts accordingly.
Going Vertical on Breaking Ground
Breaking ground is more than just digging a hole. This episode delved into the complexities involved.
Importance of Inspections
Every step, from land clearing to setting up porta-potties, requires inspections. Anticipate delays and plan accordingly.
Systematic Approach to New Construction
New construction follows a repetitive process. Mastering this can lead to smooth projects every time.
Final Thoughts
In conclusion, this week’s Propelio TV episodes offered a wealth of knowledge for real estate investors of all experience levels. From Daniel’s deep dive into water leads and Corey’s emphasis on the power of action, to Tanner’s unique fusion of art and business, and Marty’s commercial real estate insights, there was something valuable for everyone.
The diverse range of topics covered, from Section 8 housing advantages to the intricacies of new construction, highlighted the multifaceted nature of real estate investing. Whether you’re looking to optimize lead generation, understand property management for large units, or build a rental portfolio one property at a time, these episodes provided actionable tips and strategies to elevate your real estate game. Don’t miss out on these episodes that can propel your investment journey forward!
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