35 Burst results for "Real Estate Business"
"real estate business" Discussed on Entrepreneur on FIRE
"Khalil. Say what's up to fire nation and cleland. You have something to share that you believe about becoming successful that most people disagree with yes. What's up fire nation. So when it comes to real estate and entrepreneurship people think that you always have to work hard to accomplish your goals and your dreams. The reality is you gotta work smart. You gotta be able to delegate and and make sure that you are sharpening the saw and just be very efficient with your with your habits. Yeah what was that. Abraham lincoln quote that if he had an hour to cut down a tree he's been the i fifty five minutes sharpening the blade so thick above that fire nation. You're going through your process ends. As i mentioned in the introduction we have both kierra in khalil on the mike today. We're gonna be talking all about building a seven figure real estate business using other people's money so before you turned thirty you had a seven figure business. You owned an entire city block and baltimore. I mean how the heck does this even happen. I barely have my driver's license at thirty. Yeah i mean it was really when we were about a year out of college. We really trying to figure out what this whole thing was gonna look like. It was around the time period when we were talking about there not being enough funds for social security in people taking about their pensions or started. Put money in retirement funds our full-time jobs and we realized that this was not probably going to be it for us and that we really needed to figure out how to take the reins on what our future was going to look. Like and real estate became that space or we decided to get really focused and intentional about building our portfolio there for that long term flow being able to that appreciation but also be able to impact the community in the neighborhoods in which we are investing And so you know. We didn't have a trust fund. We weren't legacy you know real estate developers but really Decided to work smart and be intentional about how he's been our time to be able to build that portfolio
Building a Seven-Figure Real Estate Business Using Other People's Money
"Something to share that you believe about becoming successful that most people disagree with yes. What's up fire nation. So when it comes to real estate and entrepreneurship people think that you always have to work hard to accomplish your goals and your dreams. The reality is you gotta work smart. You gotta be able to delegate and and make sure that you are sharpening the saw and just be very efficient with your with your habits. Yeah what was that. Abraham lincoln quote that if he had an hour to cut down a tree he's been the i fifty five minutes sharpening the blade so thick above that fire nation. You're going through your process ends. As i mentioned in the introduction we have both kierra in khalil on the mike today. We're gonna be talking all about building a seven figure real estate business using other people's money so before you turned thirty you had a seven figure business. You owned an entire city block and baltimore. I mean how the heck does this even happen. I barely have my driver's license at thirty. Yeah i mean it was really when we were about a year out of college. We really trying to figure out what this whole thing was gonna look like. It was around the time period when we were talking about there not being enough funds for social security in people taking about their pensions or started. Put money in retirement funds our full-time jobs and we realized that this was not probably going to be it for us and that we really needed to figure out how to take the reins on what our future was going to look. Like and real estate became that space or we decided to get really focused and intentional about building our portfolio there for that long term flow being able to that appreciation but also be able to impact the community in the neighborhoods in which we are investing And so you know. We didn't have a trust fund. We weren't legacy you know real estate developers but really Decided to work smart and be intentional about how he's been our time to be able to build that portfolio
"real estate business" Discussed on Real Estate Coaching Radio
"If they don't like it, you love it. You don't ever say anything bad about any live there. But even, even this, they don't really have that much of any more money. Because you don't have ten houses to show that you are going to have to compete. Some of the buyers that would have one in a previous Market that were maybe a little bit shaky and didn't have the best down payment, but they could, you know, maybe put Alone Together dead. They're never going to get their offer accepted. So you cannot count on being a buyer's agent, the way you could and it's worse is Market. Commission's are dropping on the buyer agency while we're at it. And when do we start telling them? That was going to happen? How many years ago? I mean 10:00. Yes, it was so obvious to us that once all these technology companies started rolling in the space and they're all trying to squeeze out there, you know, their money from the transactions. They were going to squeeze it from the buyer agent side is action and that is exactly what's happening. But it publicly well they did but they're studying how low they can drive it down but the funny thing is is not the tech companies are really to blame for the dropping by your agent commissions, it's the sellers, the same thing not the listing agents, it's the sellers. The sellers are like I don't need to pay a buyer's agent commission. They can pay it themselves. And you're seeing like, when Julie and I were sold, real estate the normal by our agents, I had a commission was in many cases, a whole 2%. We're not talking percents, would hold 2%, higher than it is. Now most of the country and the country. Now we're starting to see buyers agents to get their offers accepted. They're actually writing an offer on behalf of there by choice. Submitting at the whole thing and they are cutting their own commission, trying to incentivize early voluntary, trying to make it. So the sellers Nets better because the, you know, the coop that was offered in the MLS the buyer's agents willing to work for a fraction of that. That is one of the many many reasons why you do not want to be on the focusing on being a buyer's agent and you're talking about all these new agents getting in the business. You're talking about all these new agents that are not going to generate their own business. So they're going to do what you, you know, they're going to buy buy our leads but you know play dumb games when dumb prices and they're going to start basically playing the dumb game of buying buyer leads and then you're going to see the Byerly quality, it's going to start off down everything on the buyer agent side of the transaction is going to get far worse. So if you have a choice what you're going to do. You absolutely positively need to focus on becoming a listing agent which is exactly why last week's podcast series was, you know why you didn't get the listing because you know even having the opportunity in the first place. Yes, that's your first win, but you better keep on winning and actually be the real listing agent who takes bath At listing. So we teach you to be competitive. You know our joke is always been. This is not Tim and Jill. He's halfway house for Wayward Realtors, we raised Superstars to be competitive..
"real estate business" Discussed on Real Estate Coaching Radio
"The number one thing on the list is take a listing that has very high value. Okay, sign a buyer to by our agency, would sell a listing, put a buyer in contract, prequalify, a seller Prospect using this script, same for a buyer Prospect. Here's when set a listing appointment, these are the real things that lead to your profitability. What else is on here? Talking to not just one, but five past clients actual conversations. Same thing with people from your center of influence and the list goes on. So, for example today, I might say, you know what, I have been dodging all of these great expireds from the past, you know, ninety days that were aspirationally priced. Okay. And now I see that they're coming because I listen to expired police dog. And so I'm going to do one full day of nothing but expires. While I get five points for each time, I speak with five expireds. So maybe I get ten points that day and you know what? The next day I might just be absolutely tired of that script and conversation, I set my appointments and now instead I'm going to, let's see, I'm going to work on my buyer list. I'm going to see who I can get in by our agency jobs. You can mix and matches the point. Some of our clients are are running BPO cash flow businesses BPO accounts because it leads to income but not every day has to be the same, sometimes these guys get tangled up in their head that way. You know, I can't be in that kind of grind. I don't want to be on a schedule. Well, mix it up. Have a game Lafayette but you know, honestly I would say get the hell over get on a schedule. That's what I would say. Truthfully schedule should be, oh yeah, these items but not Tick. Tock novel, you know, playing around getting ready to get started. But the schedule basically is what comes as a result. If you completing your real estate treasure map and your real estate treasure, map is your fill in the blank business plan. We talked about this every month. Cuz it really is the foundation of of your business, frankly, your business and personal life..
"real estate business" Discussed on Real Estate Coaching Radio
"There. So guys, you guys find out, you can just hear me. I can't even watch the sarcasm for my voice cuz you guys know I think it's bulshit get it is bulshit, but here's the thing ultimately it's over-saturated and that's what happens like. So for example, let's make this a real simple example, if you guys were in a neighborhood and look, I'm going to make this clear in some markets. Direct Mail, postcards were great and those markets are where nobody else is doing it. Okay. If no if nobody else is doing it and you do great Direct Mail postcards and there's a lot of good examples out there and your neighborhoods not a direct bill by five or six other agents Direct Mail postcards can work phenomenally well and we do teach that in our. Oh yeah we do. We've had agents who basically become dominant in their markets. I'll give you a great example. If you guys are in the main line, took the most, you know, Michael and Robin Gordon there. I think number three with Berkshire Hathaway. They base their business and still do off Direct Mail postcards. And they have to not everything about the direct mail, postcards when Julie and I help them. Set that up in the early in the late nineties was the highest best design the whole thing and they have dominated their Market ever since and they keep doing Direct Mail postcards. But here's what you guys are real. You don't realize, you know, I'm speaking mostly to those of you who are thinking and feeling obligated to start spending a lot of time, money and energy on social networking, in particular, or even Direct Mail. Postcards is that it's over saturated. So if Michael & Bourbon who are in the main line in Philadelphia which are these expensive, gorgeous, just ridiculous Mansions if they had decided to start doing, Direct Mail postcards back in the early nineties and there were five six, ten other age. There were also direct mailing, that whole Community twice a month, which is what they do. You do you think their postcards would have worked at the same level or worked at all? Of course not. It's called being oversaturated. I'll give you guys another example, not all of you pay attention to this, but you're going to be inundated with people trying to sell you SEO. The war for SEO is lost you lost. I lost the big players were the big companies. They won all the most important COG. Words that are any sellers ever going to use when searching for an agent on Google. For example have already been long dominated by Zillow realtor.com and some of the big real estate Brands. So don't even bother trying, it's not worth it. The war free SEO is lost and yet how many in here's another interesting stat Julie yes. How many houses does the average age itself per year off their agent website? The total number is none zero and that's according to National Association of Realtors..
"real estate business" Discussed on Real Estate Coaching Radio
"Wife. Oh yeah. And he wants to join. He wants to join his wife wants to join the XP, our group, right? So it's probably all of you guys. I don't know if you're talking about real estate, but when you do there's probably more people than you think surrounding you who are getting licensed. So yeah, a little bit of competition there. Well so where do they where the mole people do, when they get into real estate businesses? They flock to working with Buyers, they flock to buying buyer leads and the buyer lead things to become oversaturated or they or they flock frankly to really listen to terrible advice about how they should be building a bridge and and all this other stuff. And you know what July, since we're not talking about our topic. Let's just completely not talk about our topic, okay? So you and I went on a long walk yesterday and Julie and I were I was explaining and Julie and I were talking about cuz you guys know that we're all about doing the real work of real estate. We're all about doing what you don't want to do when you don't want to do it. The highest level, we understand intellectually, everything about what our competitors are trying to get you guys to do about birth. Ending about all the other stuff. I mean, you could argue Julie and I have a real estate brand. We have a, you know, coaching brand all this brand, but Julie and I have not tried to build a brand, Julie, and I have tried to build a really great coaching program and we've done it. That's lasted generations and it has that's going to. Then ultimately basically make a lot of other people earn their see you have successful lives and that is what we have done and what we are doing. And so our brand if you want to call it that it's just as a result of us doing decades-long of doing what we don't want to do and we don't want to do it the highest level. Yes. But but that is not what's being taught. So here's true story, Julian are going on our walk yesterday and I'm talking to Joe about. Do you remember who rolled by in a golf cart? Remind me, I don't remember the boxer kid who just basically. Yeah, yes. His name is his name to let me in a second. Okay, off the one that just fought Mayweather Logan Paul. All right so Julie and I are going on a walk and he's nice. You know why it's cuz he has a nice normal from Ohio named. He's from Ohio, I know that's so we'll have to remember, Logan, Ohio and Ed. Yeah, exactly well so Logan Paul..
"real estate business" Discussed on Real Estate Coaching Radio
"Especially, you know, when they consider how much the houses are inflating or appreciating in value and they're will, this will be a time. This is the thing that is kind of again, a little bit on the scary side, there is a massive bifurcation that's happening in the country right now. Between, you know, you can say Have and Have Nots but it's really homeowners and renters, there's a massive bifurcation that's going to happen, and it's not going to slow down. And it's going to take generations to catch up. And what do I mean by that? Let's say, and this is something to keep in mind too. If you're renting, by the way, or if you're thinking about buying a rental property or if you have tenants thought, you know, you're working with tenants that are gun-shy, thinking value is going to drop the reason that they should by now is because for the most part because of inflation and other factors market. Demand market demand is really thought, you know, demographics. That's really what's driving this Market. But if you were to look at the amount of money that the house will increase, most likely in value by just over the next year. Let alone, two or three years, Jose, what was the statistic, a place where it wasn't? It was like, thirteen or fifteen percent. I don't have a lot of the reporting is between 13 and 15% parts of the country are as high as 24%, right? So that means you're over a year if you bought a house together, well, I mean, a year ago, the average sale price of a home was around three hundred grand and now it's like, 339,000 at that puts it into perspective right now. I'm not don't hold me to these numbers but that's the generalization of what's happening. And at that time, Continuous which most people that I listened to enjoy this is to believe it will. You're looking at that house that costs a three hundred and ten thousand fifteen thousand and the beginning of 2020 is now worth three hundred and thirty-five, 550 and three years from now that house could be worth, 550 Grand. So what does that mean? Let's say you borrowed, you know, you put down 10% you bought that $350,000 house. And let's say, you're all in mortgage payment was $2,500 for the carrying cost of the house p. I t, i was thirty thousand dollars a year. That house will increase in value. By more than $30,000 a year, thus making it. So effectively, you lived in the house for free. It increased in value faster. And More, in terms of actual dollar amount it increased in value. More than what, you what it cost for you to hold. And here's what's really going to happen in which young people are wrapping their minds around over the next two or three years as homes continue to inflate. And if you bought like two or three years ago, you're in the right place at the right time, but the amount of money that these houses are going to be worth. In ordinary United States, everywhere type normal house is not fancy houses, but normal house is going to be worth. It's going to make it so that 10% that that down payment that person's struggling to come up with a three years from now. It's going to be that much harder and you're going to see generations of people that are going to be tenants and that's what's going to happen. This is going to become very much, a bifurcated real estate market bifurcation a net worth of wealth and it's going to come down to people who own homes and who don't, and it's important to remember that..
"real estate business" Discussed on Real Estate Coaching Radio
"So, we're trying to make the tasks that require you to sometimes, do what you don't feel like doing and to do it at a high level which are curiously. The same things that lead to profitability and pay check in your profit, then your pocket loss to gamify those things. So your daily goal is to earn at least fifty points. The accumulation of real work in real estate is what leads to consistent predictable income. Remember you have only a quote worked when you have scored at least fifty Points each day. Each item is worth fifty, I'm sorry. Each item is worth five points. Now, there are 21 choices, you can mix and match, you can do the same thing several times to do five points, and then another five points. And we're going to talk about what some of those things are on the list. And I think that that URL does have functionality, I think it does. It does work, there's it does work little minor type. You have to Reg. Sure. And, but again, the whole point of this is, you know, a lot of people say, well, what am I supposed to be doing every day? Well, here's what you're supposed to be doing everyday. We've given you a list of activities of Twenty-One activities and you get five points for doing each of those activities, you can do multiple some of those activities. Multiple times in your goal, is to generate fifty points a day. So, conceptually intellectually you guys can see how this actually might be something that would remind you what you're supposed to be doing every day. I think when Julie and I were holding on, on this list, we might want update cover these things July. But when we were haunting on these Haunting in on what the, you know, the things that should be the highest priority for agents every day. We did absolutely put take a listing as number one cuz remember guys, and this is something. I know some of you accused us of oversimplifying real estate. But really if you only get go to proactively generation, if you only get good at pre-qualifying if you only get good at presenting enjoys.
"real estate business" Discussed on Real Estate Coaching Radio
"Julie Harris. It is actually I can't tell a lie. It's actually July 6th, but this is the show for July 7th. And the reason that we're doing this day in advance, just because we are traveling to Asia Dallas for a big sojourn adventure begins, you should give, you know, the etymology of the word sojourn is pretty hilarious. Here's what it means. Oh, you haven't researched. It know, I spent a lot of time on this. It's an Old English word god. It's a really big damn long trip. Technically speaking, right? So we're starting tomorrow, and please do or the following day, really, and please do follow Julie. And I and Zoe by the way, on Tim and Julie Harris and we're going to be all over Instagram, we're in making travel videos going to make a whole Vlog. We're making we're documenting this we're doing before and after pictures as one of our friends suggested I check to see how we all do being you know driving what we think would be five or six thousand miles all over the country and we would love to meet as many of you as possible along the way. We can't be making a lot. Of you know, big out-of-the-way trip deviations, but what we will be doing is broadcasting where we're going to be when we think we're going to be there where we're going to be staying the night and what not. And if you're local to their message and we will absolutely love to meet with you and I want you guys to you know Instagram messaging is fine but the best way to get hold of me and Julie frankly is all the time going to just be to text me directly which is +512-975-802-0651 to 75802 0 6. So yeah, if you'd like to meet with us, if you one of our coaching clients or part of our exp libertas group, or if you're a book purchaser or just a podcast listener, or maybe an old friend or family member, we'd love to you know, we'd love to catch up if you wonderful and anyone you're in particular hoping that we meet, I think we're going to maybe run into Louis an acorn tomorrow possibly and I've promised her a prototype planner. So we've got several coaching clients and listeners across the country that are going to help with some final edits for that. What we're going to what I have in mind Rick Jensen. Perhaps job. Colorado. We're going to see probably. We're going to see Glenn Sanford, who's the CEO and founder of the X P. We're going to, who is the we went to high school with the mayor of what town do Andy. Behrman in Park City. Yeah, so we're going to go to Park City. Utah, we're going to see a lot of people in California..
Single Mom Making 20% ROI on Detroit Rentals
"Right now. I'm just getting started in real estate. Investing and i'm investing in a market that a lot of people are scared of they shy away from and that is detroit. I know a lot of people are like no way. They think it's a war zone. But that's where. I moved from whenever i moved back to texas. Which is my hometown here in fort worth. But i know where to look in in detroit where the path growth is where those neighborhoods are that can be beneficial or not and so for those people who know the opportunities. There's great cash flow. What i ended up doing in order to ford. That was taking the money from the cares. Act that you had Allowable up to one hundred thousand dollars. I took the maximum out and purchased a correct It was from the ira. But i did that and took that draw on the cares act so that i could purchase in cash to get my real estate investing started. Okay well great. So the challenge is how do you kinda scale this. How do you continue to advance your real estate business and move towards your passive income. Numbers that the the challenge. We're going to be thinking about today. Absolutely all right. Well let's get. Let's get a of the other information out before we before we go in tackle that so let's build a profit and loss. What's your income and expenses your monthly cash flow that you're able to to generate so salary one take home is about forty one eighty per month then my second job within the dental office. I usually bring about seven fifty a month so total. Take home about forty nine thirty per month. That's great and what about your expenses regarding my expenses. My mortgage payment runs seven zero five per month. I do my own taxes and insurance escrow myself. That's another seven or sorry five twenty five a month to five fifty mortgage expenses. Are you talking about your primary eight or and we eat your business a completely separate entity or is this including your business your real estate portfolio. No this this is business completely separate so this is just my. My personal mortgage is seven. Oh
Real Estate Investing with Gary Boomershine
"So we've got gary boomer shine in the studio with us. He's joining us from sonora california. It sounds like a nice place it does. Yeah gary is He founded real estate investor dot com back in two thousand five and he's got some interesting insight into the real estate industry We're going to talk a little bit about off market properties. And he's got a book. We'll talk about the book. That's out there. So gary we we appreciate you being on. Thanks for taking the time to join us. Yes it's a it's such a pleasure. Yes you did. Say it right. I'm in a little area. We my family. I grew up in the san francisco bay area born and raised Come from a very long real estate background we Occurrence owned a family real estate business. I was a licensed agent three weeks after turning eighteen. I'm showing my age was nineteen eighty seven and kate for college by holding open houses endure knocking and we had a rental portfolio back in the day And so i was also doing work. And change out doorknobs and painting. And then i went down the technology path. A really didn't have huge interest. In real estate it was the silicon valley dot com. Sort of move. I got a computer science and engineering degree and did that And work in. Enterprise software was two thousand four. My wife and i actually came back to our roots and wanted a new life I was kinda tired of working. The eighty hour workweeks great experience. But really we had a couple of young kids and wanted to financial freedom and a life and read rich. Dad poor dad and the light bulb came on around and that started me on the journey. So that was two thousand and four. I've been fulltime real estate investor since then and it has been quite a journey so Yes i also just about to launch my first book then on my bucket list for long time called the freedom code happy to share some insights and And what the book is about
How Ryan Serhant Uses "Big Money Energy" To Make Millions
"Sir hans. Welcome to the show man. Thank you so much wrapping me man. This is this is awesome. I've been looking forward to this for a while. We'll sweet well. Let's let's dig into this thing so i devoured your book or last couple of days. I have four million questions asked us today But we get them all but a few done here so first question. Big money energy. I want to know what the heck is big money energy. Because this is the concept that actually i i fell in love with. Take you back for a second big big money. Energy is is my my second book My first book was called sell. It like sir hint which was really my my sales Toolkit right for the gig economy for real estate agents. Yes but for anyone who's in the business sales which is everyone And i put that together over. The course of ten years i got into the real estate business The day leman brothers filed for bankruptcy in two thousand eight and taught myself how to sell how to rent apartments how to build a sales career Had a follow up how to structure my day all of that over the course of the next ten years And everything that. I learned everything i knew about how to talk to people how not to talk to people at communicate in general and how to operate as an entrepreneur who has to wake up every day with no inventory other than what other people control go make a percentage off of that Put into that first book. But what i didn't put into. It became very clear to me once. I put it out Because you know we had a lot of people read it and they said. Listen after reading your book i know what to do. I know exactly how to build my career. I know i know how to sell. I know what to do. But i can't. I'm freaking out i i'm eighteen. No one's going to trust me. I i've imposter syndrome in a new city. I tried to open my mouth but my palms are sweaty. My stomach is in knots. So what i realized was wait a minute. So salt lake sir then became a show on bravo which then became a large online sales. Course which we have now and it's been a big part of our business Where we teach people how to sell all over the world It is a tool kit but the secret sauce is being able to have the confidence to use it right. You can give anyone a toolkit and say build a house But if they're not the confidence to put up that house and make that foundation and do the carpentry and do the plumbing. And then they're you know they're they're not they're book smart but they're not street smart and so big. Money energy is Really big magnetic energy
"real estate business" Discussed on Scale The Podcast
Finding new revenue models in real estate: Scott Bateman and Brock Fisher
"Joining me on today's podcast. Scott bateman and brock fisher from property management software company homeo- by scott and brock heavy stance of experience in the pam sector and they have also been hanging around late agent during the transform program. Both is a major sponsor and as speakers so welcome finally to the podcast brock and scott. Thanks for having us. Thank you great to be. Well we've known each other for awhile and i. I'm not sure how you guys have. Dodged being on our podcast. Actually how's it because you must be because you say busy with your iron so tell us a little bit about that about the podcast. The podcast first year. So we run a podcast code agency of change essentially broken chatting a little while ago and found we get to talk to these remarkable people both existing customers and people that were just chatting with and inevitably you have these armaments that rarely go beyond that conversation and we thought well. Let's make a point of getting people on and sharing some of that with other people and focus on particularly property management mistrial. You're on the people that are really pushing the envelope in doing things differently whether that culture business model growth whatever. It might bayside spain. A six hour episodes in and been a whole lot of fun. It's exciting actually. And i think that's almost childless podcast dotted results having all these interesting conversations with paper just wishing that i pressed the record button and all of a that's what we did unreal so brock transformed twenty-one nice stranger to transform actually because i think you've been a part of it for several years leading up to this. How did you find transform twenty-one compared to some of the challenges that we've done year look. I really enjoyed the program. This year thought the content in the variety of the speakers was really powerful and always circle back to the point that from a professional development and a learning experience is really any bit of program out there by in terms of structure Actions in accountability but of the variety in the cross section of activities in the content. You're exposed to Iota it addressed a lot of the property management and real estate business pine points this year because we had a lot of stuff around the management of people management of conflict. Obviously social media stuff was pretty prolific. May which is something that they learn ways really curious about and then there was a fitbit about your engine property measurement in real estate issues silence effective business units. It was just a couple
Why You Should Be Implementing Skip Tracing in Your Real Estate Business
"Those electors fight. he right. you wanted to head. They find well. They skip tracing software to locate Yourself sometimes they can even locate your family members can get in touch with you But they used embracing software so there's a lot of different softwares that are out there that you can use do this. You know some of them. cost you know different than some of them are price somewhat higher. Some price somewhat low and affordable sh. But using this in. Your business is definitely going to help you. Make a lot more money okay. I'm gonna talk about some differences and different things on his episode on what you can do and how you can use skip tracing in your real estate business all right now. I all water break. I want to acknowledge the reason why you use can tracing okay. I'll give you an example. Let's say you were going after a particular home that was appropriate. Okay mostly guys know what probate houses are a house. Impre all right. So let's say so. Look into passing away in this house that you found is owned by in a pay is all by someone. But you don't know how to get in touch with that here or personal representative okay. Well what you could do is go out and do some skip tracing right you can go out find the owners phone number five the address where they live okay their car address and you can send them a letter or maybe even get a phone number contact them or contact fan relative to get information of that order all right. Let's say for instance you were driving around you were finding vacant properties. Okay and you say you know. What i i don't wanna send out. Letters are oppose carcinoma. I just wanted to see by phone with them. Well that's skip tracing will come into play. I right i give you another example real quick for those of you that are doing direct mail. Are those of you that are sending out the red mill Of seeing five ten thousand a month some might be actually descended out just a couple of hundred or a little thousand or two thousand a month. Those you that our door direct mail. You know that when you send out you still usually get back to retire. Mail right year retirement of those that didn't send for some reason or what. Maybe the address didn't forward to new address. Okay and you send it to the vega house and you get a return address return letter. Excuse me well. How about skip tracing those. Those are hot lease guys. That are probably gonna be turning those into deals but get in contact and locate the phone number so you can get on the phone with that owner. See lives vacant and possibly lead into a deal. Okay so skip. Tracing is going to be very essential in two thousand sixteen years to come again filled. That is one of the topics that is not talked about a lot. But you can literally all right. You can literally turn over a dead lead into a deal with skip tracing all right especially if you're getting property where you live up in counties praises site in the same address of the properties the same as the mailing address but the houses make it. I hate what happens. Right would ask when you can go on the go skip trace it locates on their owner and get the new address or get the phone number in half on the phone and call them okay. Let's talk about some different sites websites instead that you've use ours as a few free different websites that you can do. Some light light skip tracing with and one of them is white pages dot com are. You can go out and you can do reverse address. Look so what you should do is put the property address. Or if you have the address of the Owner where they live their mailing address. Put that property address into white pages reverse look up and then sometimes you can find the owner if the owner matches the same odor in the county directors. Then have a phone number. You can go ahead and call them that way okay. I've done this before of the white pages is okay. It's still not always very very accurate A lot of
How To Know You've Found The Right Real Estate Broker
"We want to ask you about someone who has been very valuable to you your most valuable player on your team and has really helped you grow and scale your real estate business. Who was that. Mvp big awards go up to our real estate broker in upstate new york. He has been by far the best asset for us in our real estate journey. He's helped define insurance. People seldom find attorneys inspectors Properties handyman any questions that we have in the area because he's in the area. He has always been helpful finding appliances. Anything we asked we ask him first. And then we'll do our research. I want to ask thomas. If i'm a new investor and i'm reaching out to this broker for the first time what does that. What does that dialogue like. How did you get this burger to take you seriously and show you around town and take you all these different properties. What do i say. I told him that. We're a general contractor. In new york city were interested in buying some properties in the area. We have no idea what we're doing and we're looking for someone said it's join our team in and kind of guide us through the process and if you're a good real estate broker or you're good in the position of what you do. I think that you should be open to educating whoever you're working with so he was very open in showing us as properties in song. Hey this is selling for two hundred thousand. You can fix it up for x. amount of dollars in make another fifty thousand dollars in equity or whatever the case is you have to be mindful of crew. You're dealing with so someone like me. If i see a beam falling down on her property took another construction projects for me. You know what i mean. If someone who doesn't have the construction experience me walk away from that deal which is totally fine. You don't you may need a turkey property in your case but you have to go within in your comfort left so when a lot of people have told us that when they research you know a team out of state or long distance they call you know ten to twenty people. Think you just got lucky that you know the first person you pull google. What are some things that drew you into him. They said he educated you but what would have been some things that turns you off have went down to call the next person on the list for us. We recall the first person on list. We had a phone conversation. Just a quick casual phone conversation and just very welcoming. He was the type of person that was easy to talk to. We felt that we could have a conversation with him. We felt that he gave us just on that. First conversation enough information that he would be an asset down the line so you have to have that first conversation because again. It's it's it's about managing your time so if you see that someone's not really they don't send you any properties or they don't really care to have a conversation with you or they're not interesting. Educating you that's not the right person for you need to find someone else. It may take ten twenty thirty brokers down the line. But i'm telling you someone is out there for you to help you guide you in that journey. Yeah i think the only thing i would add onto that thomas and you kind of mentioned it is that don't be afraid to fire people. That aren't working you the right way right like as i was as i was building my out of state investing team. I went through like four or five. Different realtors redmond. Took me a while to find that when the work so for those that are new investors. And sometimes you can feel almost indebted to that first person that helps you. But it's business for both of you and you gotta find someone that works
Best Of Getting Great Growth In Business With Facebook Groups with Marc Mawhinney
"Welcome everybody. I'm your host Brian Basilico. And this is the podcast where you learn to make your business Sizzle online. So are you ready to fry up some new business? Hey everybody. I've got a great guest in a friend. His name is Mark Winnie and Mark is a coach's job and the man has been a Content generating machine. So I wanted to introduce you to him and his methodology. So Mark, how you doing, man? Hey Brian, I'm doing good. So, how's life up in Canada? Home life is going very well. I can now get out of the igloo. It's getting to that time of year, you know two weeks of Summer coming up in Canada. Now, it's it's beautiful. I'm half very happy that song. Dude, so what I'd like to start out doing is getting people to know who is Mark. What's your background? And how did you get from where you were to where you are now, so can you tell us? Yeah, I mean my background the shortcomings version as I got into real estate right out of University, you know back when I was a spring chicken. I'm Twenty-One years old and build up my real estate business for over a decade throughout my twenties just work my you-know-what off and work work work and things grew and business was doubling every year and and things are going great. And I had a lot of you know highs and accesses at that time, but I also had my share of failures I had to business closures over, you know over that decade. Now one of them was really bad not that there's ever a good business closure but one of them had employees and it got messy cuz in my part of the world every single time, there's a business clothes that could be restaurant. It can be a bookstore or anything that a lot of people attacking. Business owner. Yeah, like it's their fault. They planned it right? Cuz that's what people plan to do open a business and closet. So I dealt with the slings and arrows of that but actually worked out well that, you know led me to coaches because I needed help to get back on my feet and I hired several coaches and and had mentors and really just fell in love with whole concept of coaching and that's what led me into coaching and now he's coaching for three years. So yeah, that's awesome. So Mark you you've really been like this content creation machine you started out with like a podcast today. I think it was on episode somewhere around 1:50 and then close to 400. And so you've built up some really really great basis on Facebook with two different Facebook groups. Can you talk about the evolution of how that happened and what they've done for your business? Yeah. I mean, I'm a huge fan of Facebook groups. I just I love them. So I have two main I have other groups for you know, my coaching programs and stuff smaller groups for the people that are dead. Ask the clients but I have two main groups. So I have my natural-born coaches pass gas Group, which you're a member of and that's for anyone who's been on my show. So I've got as a recording Us by 430 episodes and we've got three hundred and some people that are in that group. So that's that's one group the group that's larger and even more activity though, cuz it's open to any coaches or people interested in coaching is the coaching jungle and I believe you're you're a member in there as well. So thank you. So the coaching jungle groups the other one and we're up to almost 2,000 right now and that's happened really quickly roughly six seven months. It's grown without any paid advertising that's all organic and kind of word-of-mouth are so if anyone wants to check that one out, they could go to the coaching Jungle Juice con will direct you there. Awesome. So having these two groups in this podcast, how is this helped or affected your business? I think it's made it a lot easier to to group your tribe. Gather so Facebook's my playground. I mean some people are linked in people. I'm on there and you know, I've got 60,000 Twitter followers. So I'm fairly active on Twitter but really Facebook is my big box where I play and my personal profiles at that 5,000 cap that limit that you have the problem is if I was just talking to the personal profile of got people on their lot of coaches. Yeah, but there's also a lot of people doing other things that don't have any interesting coaching and those are my people that's my Niche I help coaches build their businesses. So it wouldn't get the same traction but by building up a community like the coaching jungle groups, a lot of people together who are my people, you know, and even if not saying that every single person is going to become a client obviously but a number of them have or they referred people over or at least I'm learning stuff right like everyday. I'm jotting down stuff. I'm learning in that group from the people in there. So I just like going forward with social media where it's so noisy with all the platforms and all the different ways that you can reach people. I think that these kind of tribes and groups are going to be even more important cuz it groups people similar to trust together rather than just be kind of scattered all over that platform. Yeah, totally makes sense. So from there. You've got all this traction all these people that you're talking to how hard is it to moderate thousands of people because you know, one of the things as a group moderator, you're always going to get those people just don't understand the rules want to constantly sell promote their stuff. I mean, how do you manage that? Yeah, there's one or two spammers on the internet at maybe three or four I will say with my group of the number of people for having almost 2,000. It's been very good so far now I just added three of men this week as a recording this so I got to a point where this has happened very rare, but rarely, but there's been a couple of cases where someone will send me a message and say Hey, FYI, Joe just put a bunch of porn on a thread, you know or something like some idiot post porn links or whatever wage. Maybe he was hacked or you know, maybe it was him. But for whatever reason he can't have that on there and I can't watch all the time cuz I'm busy with my clients and what the podcast and with everything else. So I did bring on Thursday and then and the cool thing there is it's three that I trust and there are people that I know they've always been active in the group one of them's in the UK so she's at a different time zone than I am. I'm I'm in a weird time zone in Atlantic Canada. I'm an hour past later than Easter. So she's four hours later than me. So it means if somebody decides to make it, you know, put a bunch of corn stuff up in the middle of the night when I'm suggesting chicken catch it. So overall what the really big thing for the coach and jungle why it's been so easy to manage up to this point is I've kind of had a no-nonsense policy around people selling and people spamming
Commercial Real Estate's Great Reckoning
"So. Whenever I think about commercial real estate or read a story about it I think about our offices at NPR in New York. I know they're Ripe Time Square we worked on the nineteen th floor of this big skyscraper it was filled with workers people in publishing fashion insurance lawyers. Yeah. That's right the streets around midtown Manhattan or like full of people in suits and they're rushing to and from the Subway catching. Uber's grabbing coffees talking on their phones. Yes. In that area of Manhattan. Some of the most expensive real estate in the world commercial real estate in that area is just like very, very high stakes. Steve Rappaport has been in the commercial real estate business in Manhattan for fifteen years and he says, it is not for the faint of heart. It's competitive. It's fast paced. It's all commission based exciting. We asked the ABC's of getting paid and commercial real estate always be closing always be closing you have to hustle for everything. So no deals though commission and in the brokerage world. Ten percent of the brokers make about ninety percent of the money were you in ten percent? They come in a good position. Ten Percent Day thing. I'm guessing you was. was being modest modest, and of course, it's not just the real estate side of things. That's competitive. I mean New York is an easy place for business to thrive. It's very cut throat and Steve says, business owners have to be really careful about the location and the space they choose because that is the kind of thing could make or break a business, the right price or at configuration the right ceiling height they have to. Feel that it creates the right environment because retailers Rommel you're setting the stage. He said the right stage you can make a fortune. If you set the wrong stage, you could lose everything lose your shirt. Steve says in the world of Commercial Real Estate Five, hundred square feet is generally the smallest space that'd be like a tiny little coffee shop with no tables that tiny space packs a big rent punch Karm Square and sustain. Spaces. Could be two thousand per square foot. Like a million dollars a year in those neighborhoods. Yeah. You don't find any five hundred square foot store on. You. Starts at a million dollars a year. You had to sell a lot of coffee pay that kind of right at is so much coffee. But those are the rents people were paying and those rents had been going up for years and years, and then in March they stopped in fact everything stopped it really. flatlined this Steve says everything just hit a wall people who had been looking for space to open up a restaurant or bar they all stop looking people had a space to rent. They were not getting any bites. The many people. Quite frightened were you frightened? The No. I was not happy. was, I was said. because. Sad for those who were hurt and who are losing their businesses are still losing businesses. It's an uncertain future Steve says, there is some action now but businesses not even a third of what it was just eight months ago I mean, how long do you think it'll be before you're back to one hundred percent. Two years within two years they're gonNA say at a a definite uptick. And you think you'll be back to. Back to one hundred percent maybe. Or the new one hundred percents. Would have. Is. So here's the problem with real estate right now this is not a typical recession because this recession has been accompanied by stay at home mortars and a big cultural shift in the way that we work and commercial real estate right now is getting it from all sides. Yeah. I A lot of businesses have closed in the US nearly a hundred thousand since March all of those storefronts and offices are now empty and that has major ripple effects because it does not just the empty office buildings. That are feeling the effects of the current change. It's all the businesses around the empty office buildings, Yup bars, coffee shops, restaurants, dry cleaners, clothing stores, those businesses, count on people commuting, and moving around town, and coming to work and going out after work and when people are staying at home. It's just less business for everyone and even when people do start going back to work chances are they'll be going in less often and also there probably won't be nearly as many people going back to the office. I think this is a permanent
Opportunity Through Persistence with Cordia Harrington
"Hey, guys you know what I love about America and the free, market? Enterprise. What I love about business leadership is what I love about Andre Leadership and that is that we believe that great success can come from humble beginnings. You guys know this. You know in our country, it doesn't matter what your skin color is. It doesn't matter if you're male or female. All. It takes passion drive and a desire to make a difference. You may say why don't have enough money to get started? I don't have enough education I. Don't know the right people guys. I'm telling you those are all just excuses. From the Ramsey network this is the entreleadership podcast where we help business leaders, themselves, their teams and their prophets. I'm your host Daniels Hardy and my guest today is Accordia Harrington she's the founder and CEO of the Bakery Coast today they've got multiple plants and customers around the world including. McDonald's Oh Charlie's pretty big deal. But. It didn't start out that way and like a lot of great success stories that start with really humble beginnings accordions is really not that much different. And all began for her and a small town in Arkansas. I started my first business in Russellville. Arkansas. Do you know where that is i? Know Arkansas. Russell. Okay. Well. Down a beautiful town on a lake about halfway between Little Rock and Fort Smith and my first business was a real estate company concept one realtors and foretelling we use tweet emblem on a real estate vine. Yeah. Little. Did I know? And that began. With the good fortune of having bartered for office space from a doctor that had a big empty building and least my chairs and my desk three dollars a month for the deaths and a dollar fifty a month for the chairs and I was in the real estate business us all five hundred, eighty, seven dollars to buy plywood signs to put in front yards and it grew and it was so much fun. The ladies that I hired. We were the first off you mill business in Arkansas, and the men bankers would literally come by to see what we're doing. And we would stage houses. That's before we knew what staging was and we would try to rearrange the furniture in houses so that they showed the best and it took off so you're showcasing the houses to make them look great. That's very common these days. What was it uncommon? Totally people thought we were so weird to come into their house and stake some pictures down in rearrange the furniture Abed we were trying to give them the best opportunity to get their house sold. You know back then houses there eighteen hundred square foot house two car garage on an acre of land with a lakeview guess how much it was I can't even guess forty thousand, you're really cloak. Thousand. and. So you know and there were lots of properties available and not very many buyers. So it was it was an interesting business in the only reason. I. Got Out of it. I. Loved it. I loved working with the families helping a find a home bettering their life but the people that moved to town the For your family bought the local McDonalds. Daniel. But when I grew up, I didn't know you could own a McDonald's and when I found out, they owned it. I was like all. That is cool. They lived on a Beautiful Lake House they drove a Mercedes than they had every weekend with their family. So for me I thought Gosh this would be so great. They didn't like living in Russellville they wanted to move I love Libyan Russellville K- I can imagine a real estate you weren't necessarily your weekends with wasn't a thing and you're just grinding all the time. So was it was the opportunity for flexibility? What was what like when you kind of had the dream I mean Mercedes is nice but was like drawing you to them exactly. Well, unfortunately, I went through a divorce and my children were one three and five when I did that in having a job that I could be off on the nights and weekends was very motivating. I was driven to spend more time with my kids and yeah I, mean the perks looked nice to but are really wanted quality time with my. Kids an and in as much as I love real estate, it was just impossible. So many business owners I talk to really the family is the reason that they get into owning their own business. You know maybe they work at a corporation at its ninety hours a week than ever see their family, even the money can be nice but I mean, you look up and your kids are. Little and they start growing and you go I'm missing out on their lives. Curious to hear from you how you continue to keep that value as the business grows and scales because there's a little bit of the grass is greener on the other side. If I have my own business, I'll have the flexibility and the autonomy, and it can also be that same dragon that takes you away. From your family if you're not careful yet you're totally right and I haven't the greatest respect for restaurant owners because when I did buy my first McDonald's we were unable to stay in. Russellville that just wasn't the way McDonalds did things and that was offered the chance to buy the EFFINGHAM. Illinois McDonald's where that is I know effingham driven through there once okay. Most people have driven by. Again, a big town of ten thousand people and we had an interstate McDonald's that I purchased. At the time I paid a very high price for it. This was nineteen, eighty, nine paid a million, six, fifty, four it and I had to figure out how to grow sales in order to make that Walker, twenty, seven, thousand, dollar a month payment. And the only way to do it was to drive more sales as you know, that's the way it. But if you'RE GONNA ten thousand, how do you find more people? Yeah. I can imagine I mean the supply and demand kicks in a real way. What was it? An existing store was this new store? It was an existing store in the man was retiring and it was a good store because it was in the middle point if you're driving from St Louis Chicago. Great Place to stop get a bite to eat go to the restroom. Great Location. But again, how do you grow the sales and so? Back and that day an eighty nine we didn't have cell phones, but we did have CB radios. So we began to have some fun get on the radio and go hey, good buddy. If you're driving a bus stop by, we'll give you a free meal if you bring your bus
Opportunity Through Persistence with Cordia Harrington
"I started my first business in Russellville. Arkansas. Do you know where that is i? Know Arkansas. Russell. Okay. Well. Down a beautiful town on a lake about halfway between Little Rock and Fort Smith and my first business was a real estate company concept one realtors and foretelling we use tweet emblem on a real estate vine. Yeah. Little. Did I know? And that began. With the good fortune of having bartered for office space from a doctor that had a big empty building and least my chairs and my desk three dollars a month for the deaths and a dollar fifty a month for the chairs and I was in the real estate business us all five hundred, eighty, seven dollars to buy plywood signs to put in front yards and it grew and it was so much fun. The ladies that I hired. We were the first off you mill business in Arkansas, and the men bankers would literally come by to see what we're doing. And we would stage houses. That's before we knew what staging was and we would try to rearrange the furniture in houses so that they showed the best and it took off so you're showcasing the houses to make them look great. That's very common these days. What was it uncommon? Totally people thought we were so weird to come into their house and stake some pictures down in rearrange the furniture Abed we were trying to give them the best opportunity to get their house sold. You know back then houses there eighteen hundred square foot house two car garage on an acre of land with a lakeview guess how much it was I can't even guess forty thousand, you're really cloak. Thousand. and. So you know and there were lots of properties available and not very many buyers. So it was it was an interesting business in the only reason. I. Got Out of it. I. Loved it. I loved working with the families helping a find a home bettering their life but the people that moved to town the For your family bought the local McDonalds. Daniel. But when I grew up, I didn't know you could own a McDonald's and when I found out, they owned it. I was like all. That is cool. They lived on a Beautiful Lake House they drove a Mercedes than they had every weekend with their family. So for me I thought Gosh this would be so great. They didn't like living in Russellville they wanted to move I love Libyan Russellville K- I can imagine a real estate you weren't necessarily your weekends with wasn't a thing and you're just grinding all the time. So was it was the opportunity for flexibility? What was what like when you kind of had the dream I mean Mercedes is nice but was like drawing you to them exactly. Well, unfortunately, I went through a divorce and my children were one three and five when I did that in having a job that I could be off on the nights and weekends was very motivating. I was driven to spend more time with my kids and yeah I, mean the perks looked nice to but are really wanted quality time with my. Kids an and in as much as I love real estate, it was just impossible. So many business owners I talk to really the family is the reason that they get into owning their own business. You know maybe they work at a corporation at its ninety hours a week than ever see their family, even the money can be nice but I mean, you look up and your kids are. Little and they start growing and you go I'm missing out on their lives. Curious to hear from you how you continue to keep that value as the business grows and scales because there's a little bit of the grass is greener on the other side. If I have my own business, I'll have the flexibility and the autonomy, and it can also be that same dragon that takes you away. From your family if you're not careful yet you're totally right and I haven't the greatest respect for restaurant owners because when I did buy my first McDonald's we were unable to stay in. Russellville that just wasn't the way McDonalds did things and that was offered the chance to buy the EFFINGHAM. Illinois McDonald's where that is I know effingham driven through there once okay. Most people have driven by. Again, a big town of ten thousand people and we had an interstate McDonald's that I purchased. At the time I paid a very high price for it. This was nineteen, eighty, nine paid a million, six, fifty, four it and I had to figure out how to grow sales in order to make that Walker, twenty, seven, thousand, dollar a month payment. And the only way to do it was to drive more sales as you know, that's the way it. But if you'RE GONNA ten thousand, how do you find more people? Yeah. I can imagine I mean the supply and demand kicks in a real way. What was it? An existing store was this new store? It was an existing store in the man was retiring and it was a good store because it was in the middle point if you're driving from St Louis Chicago. Great Place to stop get a bite to eat go to the restroom. Great Location. But again, how do you grow the sales and so? Back and that day an eighty nine we didn't have cell phones, but we did have CB radios. So we began to have some fun get on the radio and go hey, good buddy. If you're driving a bus stop by, we'll give you a free meal if you bring your bus
THE CAR SMASHER & HINDSIGHT
"Welcome back my friends to the big book podcast. My name is Howard and I'm an alcoholic sober since nineteen eighty eight one day at a time in this episode the twenty third and twenty fourth stories from the personal stories section of the first edition of alcoholics anonymous published in Nineteen thirty nine published. Only the first edition of the big book. These stories are entitled the Car Smasher and Hindsight they highlight the cunning baffling and powerful aspects of alcoholism that linger even during periods of sobriety and the slips. They can cause when complacency overconfidence or self will take the place of action humility and the will of a power greater than ourselves. These stories also demonstrate the critical link between helping other alcoholics and maintaining sobriety upon which they a founders established our program of recovery and now the original stories the car smasher and Hindsight Bacar smasher during the first week of March nineteen thirty seven through the grace of God. I ended twenty. Years of a life made practically useless because I could not do two things I. I was unable to not take a drink second. I was unable to take a drink without getting drunk. Perhaps a third as important as the other two should be added my being unwilling to admit either of the first two with the result. I kept trying to drink without getting drunk and kept making a nightmare of my life causing suffering and hardship to all those relatives and friends who tried so hard to help me and whom when I was sober I took the greatest pleasure in pleasing the first time I drank anything strong or in greater quantity than a glass of beer I got disgustingly drunk and missed dinner. Which had been arranged for me. In honor of my coming marriage I had to be taken home and remained in bed the following day more sick than I thought a human could be and live yet until two years ago I periodically did the same thing. Making money was always pretty easy when I was sober and worked all right when sober absolutely helpless with drink aboard but I seem to have had the idea that making money or living was something to take or let alone I got into the real estate business began to neglect business. Sometimes with four houses under construction wouldn't see any of them for a week or even longer sometimes paid good money for an option then forgot to exercise it. I made and loss plenty of money in the market understand. I wasn't actually drunk all of this time but there seemed always to be an excuse to have a drink and this first one more and more often led to my becoming drunk as time went on periods between drunks got shorter and I was full of fear. Fear that I wouldn't be able to do anything I agreed to do. Fear of meeting men worrying about what they might know my drinking and its results all of which made me quite useless whether I was sober or drunk. Thus I drifted breaking promises to my wife my mother and a host of other relatives and friends who stood more from me and tried harder than human should be expected to to help me. I always seem to pick the most inopportune time for a binge and important business deal to be closed. Might find me in another city. Once trusted to purchase for a large customer. I agree to meet his representative in New York. I spent the time waiting for a train in a bar. Arrived in New York. Tight stayed tight the week and came home by a room twice. The distance from New York worked weeks by long distance wire letters and personal calls to contact possible business connections under proper conditions and finally succeeded only to show up tight or get tight and insult the man whose friendship or respect meant so much each time there was the feeling of regret inability to understand. Why but a firm determination that it would never happen again but it did in fact the periods between became increasingly shorter and the duration of each binge longer during the aforementioned period. I had spent thousands of dollars. My home was broken up. Half a dozen cars smashed up. I have been picked up by the police for driving while intoxicated plane. Drunk had sponged borrowed money cash rubber checks and made such a general nuisance of myself that I lost all the friends I had at least they felt unwilling to be a party to financing me while I made a more complete ass of myself and I on my side was ashamed to face any of them when I was sober. My friends secured jobs for me. I made good on them for a time. I advanced quickly tonight superintendent in a factory but it wasn't long until I was missing or worse. Turning UP DRUNK WAS WARNED. Warned again finally fired. I was later rehired as a factory hand and mighty glad to have it advance again then back to the bottom always the same process. I drank continuously and when I drank sooner or later and generally sooner I got drunk and threw everything away during the early part of nineteen thirty five. My brother secured my release from the city jail on that day by sincere but non alcoholic friends. I was shown what might be done about my drinking with the help of God. I asked for this help. Gratefully accepted it. And in addition to losing my desire for drank asked for and received the same help in other matters I began to earn my living and in my newfound security was unashamed to meet people. I had avoided for years with happy results. Things continued well I had two or three advancements to better jobs with greater earning power my every need was being met as long as I accepted and acknowledged the divine help which was so generously given I find now as I look back at this period covered about six or eight months then I began to think how smart was to wonder if my superiors realized what they had in me. If they were not pretty small about the money they paid me. As these thoughts grew my feeling of gratefulness grew less. I was neglecting to ask for help when I received it as I always did. I neglected to acknowledge it. Instead I took great credit for myself I began to take credit for the non drinking too. It came to me strongly that I had conquered the drinking habit myself. I became convinced that my great willpower. Then someone suggested a glass of beer. I had one. That was even better than I thought I could take drank and not get drunk so another day another beer until it was regular every day now. I was indeed in the saddle concerning drink could take more. Leave it alone just to prove it to myself. I decided to march right past the place. I usually stop for beer and I felt pretty good as I went to the parking lot for my car. The longer I drove the greater was my pride that I had finally licked liquor. I was sure I had so sure. In fact that I stopped and had a beer before I went home in my smugness I continued to drink beer and began occasionally to drink liquor so it went until inevitably as darkness follows the Sun. I got drunk and was right back where I had been fifteen years before slipping into a binge every now and then never knowing when they would come nor where I would wind up.
What Small Businesses Should Know About PPP and Emergency Loans
"And some of these loans that were put out there for business people to try to work with and we got two different loans we got the the emergency loan for you know lost profits in that business and then we had the loan for PPP which was the payroll protection plan and people dealt with them differently now for the first time I'm starting to see this week yesterday was the first time I think I saw people actually getting money from either of these two loans the day before that we heard people saying that there were they were getting letters and that they were been approved but I actually had some people yesterday said the email saying they got money so let's pick it up from their job where do you see these programs that now and then we'll talk about the problem the sole apartment owners ran into with these programs yeah absolutely so you know that as you said there are two different programs out there the first one is the E. I D. L. the emergency disaster relief fund I'm frankly I'm not aware of anybody that has received money on that program even though parts of that were emergency loans were supposed to be available within three days of filing up to ten thousand dollars there were a lot of us that filed in late March that still have not seen any of that money and as we get into some of the problems with these programs I think I have some ideas as to why some of us in our industry have not seen those funds the second program you talk about is the paycheck protection program work the T. P. P. once this is received a lot of coverage in the national news in that it is a loan to businesses with five hundred employees or fewer that the Indians center says to keep your people working and keep them on the job and basically what what that program is that they will loan a business of five hundred employees or fewer money for eight weeks of pay roll and the and if you keep your your payroll dollars intact at the same level and your number of employees during this eight week period then you can then that one of them can be forgiven and so there really is it's a great incentive for businesses and even particularly real estate businesses two eight people working rather than adding to the already burgeoning unemployment rolls there are out there so as we go into this area and we we always thinking okay great these both sound great you're right the the first one the the emergency loan we've not seen much come from that in fact it seems like they've kind of waffle the way away from it to be honest with because of the stuff that's come out it was originally get ten thousand immediately like the next day within three days you said and then you can get another loan in an amount of action and really never clearly defined what acts was but the ten thousand then got whittled down to have something to do with payroll and all of a sudden there was nothing about payroll when it first came out but I saw an article the other day somebody sent me where they're saying now that you get up to one thousand per employee of that ten thousand but yet still nobody see you said you had some inside or at least take a gut feeling about that I'm see what time we got it we got one minute left do you have a short answer to that what you think happened that long why just disappeared right yeah and you touched on it tell it really got down to the they didn't hide it back to the number of an employee and so a lot of property entities that do not have employees filed for this one and so now that it's tied to the number of employees and payroll which seems to duplicate the PPP while that left a lot of real estate entities out of that the others the other thing with that is that is with the applications that you had to provide a number of your financial loss this came out late March and we and most of us in the real estate business with rent due on the first had no losses at the end of
Fred Lanosa: Welcome To The World Of Franchising
"I want to take a dive into the world of Franchising today with Fred Linosa. Fred has sold over one hundred franchises and I would consider that an expert in the space. Fred is the author of points life. Not your grandma's timeshare and also the creator of an e book more specifically what we're going to focus on today. The twenty one page Franchisee Book for Lead Generation and sold one hundred twenty four franchises from it within twenty four months to launch his own Realistic Estate Franchise Organization. Oh Yeah just what we like here on the Nice guys fast smart and productive Fred Linosa. Welcome to the Nice guys on business podcast. We'll thank you great to be here. Hey I'm happy to have you a nice guy community if you wanna take a moment head over to after. This interview is over. Head over to the business podcast. The other show that we also produce and listened to Fred's over there. We take a little bit deeper dive into Points and the whole world of timeshare so you might enjoy that as well and I'll put a link in the show notes here for that as well so fred. How did you even get interested in the world of franchises? How did you create this e book? And how the Heck? Just one hundred twenty four franchises in twenty four months. All of those questions you pick them in whatever order. You want you by. That's that question would take. That was a twenty four year. His question right there basically I got into franchising very early in my real estate career was in the early eighties. And I purchased the franchise. So I was a franchise. E I purchased franchises. I've actually owned three different franchises over a about a twenty five year career. So that was really my introduction of Franchising. I was very young real estate broker at the age of twenty four. I I honestly did not have two nickels to rub together but had a lot of energy. I was a good a good student. I knew I wanted to open up a real estate company in my home town in Connecticut so I started researching different franchises because of franchises really of business model. That's already proven so I figured being a young guy. I didn't have a whole lot of money to waste. And so I came across some franchises that were available made contact. They came out and interviewed me. And I purchased a franchise. Believe it or not on a mastercard. Because I didn't have all the money all the money to even buy but they believed in me and I became a student of systems. You know I was the first time I was introduced to business system's very enthralled with that intrigued with that so I was a good student and I was able to build a very successful career in the real estate business using a franchise model. So what what makes for a successful franchise in before you answer the question. Let me just share. You know we all think of or maybe I think of I automatically go to you. Know the system and the franchise of McDonalds to all be patty special sauce lettuce cheese pickles onions on sesame seed bonded and I keep thinking it's a system that's in place to do the same thing every time predictable results and it's almost like you're buying into that winning system. Is there anything else outside of the system that you're buying into when you buy into a franchise? Well yeah of course you're buying it to a proven model you know and it takes someone. That's proprietary years to develop that MODEL. You know at the stroke of a pen. You could purchase someone their subject matter expertise. They may have been doing that for twenty. Five years You step into their life. The minute you stroke that pen and then really what you need to do is is be a good student or advocate of what made them successful hopefully as a franchiser zoar. Which is that is the person that owns the franchise that they have packaged their subject matter expertise so that it could be duplicated in other models and that's what you buy you buy that model and you just become a good student and do what they tell you to do. Nowadays in the in the digital world and the online space are there franchises that you can think of or that you've been involved in our no of that That involve a little bit of of You know not as much big box or physical structure. But more just buying the system in the model that they have in place but doing it online. Yeah there's in fact the whole industry kind of revolved into that direction. As as sales people in in company representatives become more remote they would work from a home based office in so yeah. There's a lot of franchises that are in the service space sales space. You know Providing certain subject matter expertise guidance coaches counselors a all have franchise -able models and so that particular type of service or product could be replicated from someone who wants to work from home based office so yeah and those. Those types of franchises are are less money than the brick and mortar branches. What I think you're referring to and and people are more you know. Look what Amazon is not that it's a franchise but it's it's pretty darn near a perfect remote model which funny about Amazon. I'm here in Palm Beach actually going into a brick and mortar store which is which is the reversal of what made them so enormous. You Know Yup Yup and I can remember. I grew up in the sixties and seventies in as a little kid I can remember. My Dad created a franchise and I didn't know what to call it at the time but He created a sale system sandler sales. And this was probably in the early seventies that my dad created that system and I can remember just the first time he was talking about trying to explain it to me. I couldn't understand at what we'RE GONNA do is. We're going to sell the idea that we created and sell it to somebody else. That will use the idea and do the same thing that we've done. In every time I would start either a business or come up with an entrepreneurial idea you would always say document document document. Keep it you make sure you know what you're doing so you know all the screw ups just as equally as you know all the successes and you're going to build a business to intern be able to sell that business or sell the idea in that system. Does somebody else to is that kind of what you did with real estate or did you go in a different direction knowledge. It's funny you should say Sandler sales because I've been in sales and marketing since the early eighties. I remember that name. I do remember that name. It sales I don't know if it was your dad's franchising out but I do remember Sandler sales because I've been involved in it for so many years that you become a student of selling on the flip side which is selling points in time share real estate which is really a specialty real estate so my career is evolved the win from general real estate into franchising real estate companies and then into resort properties and timeshare. Which is a global type of system? When you talk about what? Your Dad said about documenting everything you do to establish some kind of a track record. That's exactly what I did in the resort timeshare business for the last eight years. I documented every tour every sale every objection every obstacle. I recorded notes after sales that I've made I've recorded notes on sales and I didn't make and that's the basis for operations manuals in Sales Training and coaching programs. So you're debt was kind of ahead of his time. That same methodology is prevalent today in. So so that's exactly what I have been doing. In fact very close to to launch a franchise index rates into the sales training space. Correct for the for the resort properties. Yeah points business. I think it's a great business and look at it this way. Also the closer that you niche the more you'll get rich so if you're if you're looking specifically into the timeshare or real estate world and teaching either real estate agents or timeshare sales people how to do what they do man if you're good at it and you have the track record of selling X. amount of franchises of that or whatever you do man that's a that's a again a formula for for success and just keep Keep keep trucking on that idea. I think it's a great idea. Thank you yeah. I'm excited about it for sure. So let's go to the to the customer facing side. Somebody actually looking to be a to become a an owner of a franchise rather than the creator of franchise. Tell me a little bit about. Who would be a good candidate for the world of Franchising? Always the people that can follow instructions and that can that can stay in the lines. Get COLOR WITHIN. The lines are probably good at that. And I would probably never be good franchise because I'm like. Nah I don't want to do it that way. So who's good for a good candidate? You actually answered the question of a person that would be a great franchisee would be someone. That has an appetite to learn And really the antithesis to that would be an entrepreneur. Entrepreneurs are forever tinkering. I was actually a good franchisee for a moment but then I would start embellishing on a lot of the systems that were there. Because you know you that's just the nature of an entrepreneur there forever tinkering trying to make it better in this in that. That's actually not a great candidate for a Franchisee. That's a better candidate. For a franchise ore but a franchisee somewhere nets looking to get into business. If you really WANNA up. The percentages for success is to buy a franchise. Do your research be willing to learn assists. Naturally you have to have some resources just because someone has a successful system. That's kind of like having a Lamborghini. You could buy Lamborghini but you've got to be able to put gas in. It doesn't go anywhere right so you have to be a good student and listen and be coach. -Able I would say would be the criteria that would be the beginning.
The Full-Time Real Estate Photographer
"Welcome back to another episode of this week in photo. I'm your host Frederick then Johnson. Today I have pleasure being joined by Mr Thomas. Large Lettuce is a Massachusetts based real estate photographer. Who is it his mission to teach other people how to do the same thing? He's crushing it in Massachusetts. And you know you're gonNA find out why and how and how you can possibly do the same thing in your own area. Thomas Welcome to the show man how you doing thank you. I'm doing good. Yeah this is good so just behind the scenes. We've been trying to do this interview for a while now but we were plagued by technical difficulties but both of us. Don't give up so we are. We are writing. I'm excited to do. So let's let's start with just a little background on you you know. So germ our previous conversations off line. I know that you were an agent. That transitioned into this side of the real estate world. Tell us about that sort of the origin. Story of Thomas sure So I wasn't exactly born with the camera in my hand. So that the way that I came to this place is kind of a mix of Random or aimless stumbling through life and it has a lot to do with An interest that I've always had in life in photography specifically but in business of always been really interested in starting and running my own business in fact I've started and failed at many many different businesses over the years Then I spent some time in the military after I came out Was when I got my real estate license. Which is another business idea of mind? Getting into real estate and Eventually my business. My real estate business started to pick up to the point where I was getting a lot of listings and I had some negative experiences with a local. Real Estate Photographers. So I had this idea or it gave me this idea of of you know. Maybe I'll try and do this for myself. And it took awhile took some practice I think fast forward a couple of years before I was actually pretty competent at it but once I started taking really high quality real estate images. People would ask me. You know who might photographer was and I tell them it was me so they would ask me. Hey while you did a great job on your listing. Can you come and shoot mine after a few inquiries like that of other agents calling me asking me about my photographer? Which was me. I decided to make the switch into turning into like a serious business. Not just doing it for myself. You know it took me a couple of months when I when I pulled the trigger and I'm like it's time to to actually take. This seriously took a couple of months but that's still really really short period of time When I started to replace my other sources of income and then now today it's my primary source of income Razi. That's what I want. I want to just explore that just for a second because you mentioned that you you transition from agent in to real estate photographer. How does you know what I I'm? This is coming from. A place of ignorance. Obviously not a real estate agent. Never I've never been on that side. Though I've sold a couple of houses and I know that commission that the agencies get is a good chunk of change so does that does the real estate photography replace those those those chunks of changes the change that you get. Oh Yeah Commissions. Completely crazy more than more than than completely. I mean more making more doing photography than I did doing real estate and I was doing well with real estate. Yeah I think it was the not the first calendar year but after the first twelve months of me starting this business and officially diving in I broke through the six figures and income and And it just keeps going up and up every year because the way that I get clients and the way that I manage my client. Relationships is super efficient. And I'm able to get a myself and my business in front of a lot of a lot of people in a short period of time and I'm able to provide them such a positive experience. Not just in the quality of the work but Fair pricing fast turnarounds. Great Customer Service. They stay so most people most real estate agents that call me for I listing that. I'm going to shoot for them They keep calling me back and the odds of them calling me back for every single listing for the rest of their career as extremely high. Like the I don't have very many people that have worked with me and then have switched to someone else so so client retention is is high with real estate photography. I mean if the agent is getting good work at a good price and they like you. Why would they even look for someone else? They don't so agents that are having a good experience they stay with you for a long time and then a real estate agent is going to list on the low end one or two properties a year for sale and on the high end one or two properties a- day in some cases so yeah there's some agents that I work with that they they literally make millions of dollars in real estate commission which is amazing but that means they sell a ton of property so building a professional relationship with them Is is huge about that. Because that's the other piece of this. That a lot of people that are that are watching this in that are listening in interested in getting real safe and the first step is okay. That sounds great. But how do you break into that? You know clearly. Thomas had a lot of breaks and luck and all this stuff how do I get into? How do I get my first real estate client? What would your advice be to those people well There's a couple of things that I'd like to pack out of that first. So you mentioned breaks and luck so if you just take a snapshot of my life my business today and you could say wow. He is lucky when I reflect on my life. I I tell myself like I am really super lucky but It was a lot of work to get to this point and the businesses running itself. Because of you know I built up a team. That takes run to the LEGWORK. We can talk about like the actual amount of time. I even have to put into photography. These days actually Which is not. It's not much built up a team and I built up a system that Works really well in this business and a lot of trial and error and in a couple of months I started to replace my other source my other income like real estate commissions But it was lots of failures and a lot of trial and error and a lot of Learning that took place even leading up to that point because like I said I've been involved in a ton of different businesses. So so you know. Yeah I've been lucky personally. Like things have worked out well for me but It's it's been a ton of work to get there And I want to point that out because you don't necessarily need a lucky break to build the business if even if everything was playing against you to build a business like this because it's like it's so easy to get in front of clients and the rules that you have to follow to create high quality real estate photography are are very straightforward now. If you're a photographer and you're not even interested in real estate photography. Maybe you didn't really think about it as a serious source of income or maybe you are but you're not really sure if you should get into it. I like to point this out. I have people in my audience. We even mentioned. I have the reason why I'm on this podcast. Because of my podcasts we have it so I I also host the podcast and I wrote a book on Real Estate Photography And a lot of people in my audience will be photographers of not just real estate. But they'll be portrait photographers or infant photographers or Family portraits of some people that like to focus on fine art and even wedding photographers people. Who are busy on weekends? Or maybe after their day job and they're like how can I make some more money? Add some dollars to my bottom line or take this passion of this hobby of mine. Actually start turning it into a money. You know to to either fund or to finance those bigger projects those passion projects. You have in mind or if you wanted to take it down the path that I have Support your entire life. Your you know your mortgage your car payments vacations with just photography. So there's a bunch of different approaches and a bunch of different reasons. Why people should get into it. I think especially if you WANNA take photography seriously.
"real estate business" Discussed on Elevate: The Official Podcast of Elite Agent Magazine
"I was going around the country in relatively mild. Yeah we didn't have weather anymore. We just have random weather events. I think here in Australia but domino. Definitely take you up on that. So let's get onto some. What's next sort thing innovative? Actionable advice from what you've seen with As what do you think twenty twenty will bring a expose? Well I think on the international front. I can tell you that we are way ahead of where we thought we would be Australia and the UK We've opened up a number of different provinces in Canada. I think were six Canadian provinces. Now and We've got conversations going with people and potential leaders in in a Lotta different markets Mexico France Finland Germany New Zealand. I mean just just all over. Our goal is to get into not fewer than three new countries next year. I think each of them comes with a little bit of a different ramp up time because when he started into foreign language. Translation for our teams are hurting Probably causes a twelve month launch as opposed to a bit of a rushed six to eight. Which is what we did in these two markets. So that certainly will happen. I think We will continue to become the top destination or what? We call mega teams right. So these agents that are doing five hundred six hundred eight hundred transactions per year. They love us because they can really scale. They can work together. They get outside of their own market and build a platform so that I think that will continue in. I think we'll just continue to iterating on the Asian value proposition. Trying to always make it as good as it can possibly be and then at the same time we've introduced affiliated services in the states this year. We'll start to see those row over the next several years so a financial services I think is you refer to it up for us. Mortgage lending title Escrow Services. We've got a currency exchange partner now so all of these things. We're looking at introducing. I think that those will continue to grow over time but I think ultimately three to five years the the real story here is more of a human interest story than it is about real estate because again we're going to have people with different cultural backgrounds. Different language different religions. These are things that have the potential to divide people they. They clearly do right. In general society the dialogue in the conversations that go on today in public discourse reflect the fact that people are often divided in its these these differences divided and I think the beautiful thing about the community will building people who all on the companies. They will make us stronger. They will make us richer in welcome. Brayson think that's awesome in. The world is shrinking in. It's just because of the cloud and and different digital tools and things like that and it just sounds like a networking group. I want to be part of frankly like you know like meeting all these different people with different experiences. Because that's that's how you Lynn. What are the three things that the top agents a day's pay a focusing on right now as far as they businesses guy like what advice would would your top agents give to us right now? Well I think the first and foremost would be. Don't be afraid to change everybody. Who's at our company is here. Because they're not afraid of change if you're not in the digital business generation space you know if all of your methods of business generation are still more traditional. That's GonNa work for a segment of the agent population for sure but I think overwhelmingly over time if you want to be in this business and you want to remain relevant remains successful. You've got to learn to adapt with it. You mentioned A great thing to go to we like to thank the dinar is anywhere between forty and seventy five hours live instruction every week. We're providing content other rivals should not exceed what provides but we do it on a daily basis so really it's about having the mindset whether you like it or not the businesses changing. It doesn't look like it used to gotta get the business in different ways you could add value in different ways and the sooner you can open yourself up to that not just having the Duke. What's possible if you do it? I think that would be a great thing to do. Ray Device to follow then third. Really understand your place your value in the whole process in the whole industry. There's nothing I won't say it's frustrating but somewhat disheartening. You'll come across somebody who's such a top producer in the business. You ask him if they realize that they're the reason why they're succeeding in. They'll say yes. But then at the end of the day they're stuck believing that the brand that they're affiliated with is really responsible for their success and we know that's not true right because if I go to any five hundred person officer hundred personnel officer. Ten Person Office probably sixty to eighty percent of the people in the office aren't going to be producing it all. And then you've got people who are producing by they're not producing at the same level of the top achievers. So whenever you talked to a top agent and they feel like they don't have it in themselves to to really be that successful They attributed to the brand. It's really hard because obviously if it was the brand that was driving that success than everybody in the office would be achieving the exact same level. So you got to believe in yourself and you got to realize that independent of any brand and that includes the XP independent of any branch of the real story is the agent and the value that they bring in under appreciate the value that represent. I agree with you. I always use the example of Taylor swift and l'oreal like you know she might have promoted Lori L. for awhile but she's definitely got more brand power now as an individual than than the brand. She promotes so yeah absolutely. What's the best pace of actionable advice you've ever received? I think probably pertains to fear the fear of of the new or fear of change. I don't know if it was advice from us but I I saw a quote. The people generally dislike most about others those things that they don't have the courage to do themselves and we hear it now. Certainly our success is is generated a no shortage of critics people who will sort of manipulate distort what we're all about. They'll say things that are entirely untrue. So is the moment you start. Succeeding people are going to do things to try to throw you off your game and try to get you to doubt what you're doing to be uncertain about it. I would say over the last ten years. I've learned a ton about myself but more than anything else in not just realistic a business. You've got to get back up after you've been knocked down. You'd expect the arrows you know the critics are gonNA come and you can't let it for what you're ultimately trying to achieve and you can't let it submits the fund. You're having while doing it. This has been a lot of fun over the last ten years. I think for me and for everybody. Who's been part? What is your best productivity chip or textile or something like that? We always ask laid this question for me. I would say a workplace by facebook as our intranet a so. In addition to the world's we've got a way in which our our agents can form groups of their own Within the Internet so you might form for your team you might former project base group. We might have some groups corporately but any agent can use it. And so I think whether it's workplace by facebook or it's some sort of voice messaging system you gotTa have a way to really communicate on workplace just on that. I mean we are classes not everybody can attend a class in our world at eleven thirty on a Friday right so so we record and we broadcast all of our classes in workplace. So anybody can go in at any point on demand it the value. Of course we've got documents without listing presentations. We've got all sorts of collateral gets passed back and forth among our agents. And it's really become a rich repository. So I think something like that needs to exist and will drive productivity overdue. Amazing they any business book she recommend or any books that have made a really big impact. Your career I don't know about an impact but I think about a year ago. One of our agents in Texas gifted me tribes And and as I read through it in started. It's starting to talk about Inside a movement and the difference between leaders and managers. I recognize so much about the company that I was with in those words and I'll go back to the Friday meeting. It's a leadership meeting. Because our agents are leaders right organization that among staff were very very collaborative. It's not a top down environment and I do think that if you look at our agents in look at our growth and when it started Look what it is that everybody's excited about we do have a movement afoot so I've really enjoyed reading the book and really love seeing how it's it's really translated into the XP. Yeah absolutely. Well Jason. I'd like to thank you for sharing your story and the story. Vx Pay with us today and for also sharing your knowledge. It's been amazing to have a really good job with you. I always end our interviews on this. This one question. It's like it's somebody else's question but if there was one thing that you'd like people to remember from listening to all of these covet a whole lot of ground what would it be always understand the opportunities that are front of you or even if you don't understand and be willing to listen to them because you never know what might be saying no to and Overall I just want people to know that Australia that we're here to be a good neighbor. We're here to contribute to the industry. There's a company for everybody companies. Not for everybody but will be a good neighbor. And we'll be respectful of both the traditions customs but also the people will. Rv Industry Australia. Amazing Jason Guessing. Thank you so much. Thank you very much to connect with all things. A lead agent including the latest news. Coaching and features subscribe Al.
Find More Hours in Your Day with Bob Mulhern
"Hey what's going on I'm Stephen Miller and and this is a point if I was GonNa put you on the spot and ask you about how you manage your time. What would you say? It's not a trick question when it comes to determining how you spend your time you're part of a bell curve with the rest of society so take a second to imagine it. The left side of the bell curve is send slowly and includes about thirty percent of the people you know. These are the people who can't help feeling like there just aren't enough hours in a day because well they or serial procrastinators while at the opposite end of the curve. You've gotta quickly declining finding slope. Were just about every high. Performer is found. These people set apart for each of their priorities and are highly productive but they only make up about fifteen eighteen percent of the curve. The remaining forty five percent of people are smack DAB in the middle. They're always trying to find a groove. So they can power through the distractions but oftentimes. They're inefficient with their time. So the honest with yourself. Which group are you in and more importantly are you willing to do what it takes to move further further to the right of the bell curve and become more effective in the UCLA time? If your answer's yes you're in for a great show today because in a second of or three episode arc on setting yourself up to achieve your goals I'm highlighting some of the best productivity tools and time management strategies that can give you a real edge. Make sure you follow this show wherever you listen to your favorite podcasts to be we notified when the third installment drops next week but to set you on the right path. Today I'm joined by another one at Phoenix business. Journal's most admired leaders the managing director of Colliers International for Greater Phoenix Bob Mulhearn day-to-day Bob Overseas brokers team of over one hundred. But as he'll tell you managing that multi-million dollar business business isn't his sole focus in life quite to the contrary by making effective use of his time and using the skills he's picked up over his career he's been able to maintain the type of healthy work life balance L.. Instant many people dream of but few ever get to enjoy together. Bob And I are going to share some of our favorite productivity boosters but remember we can't make you use them. We can spark the fire but you have to keep it lit. So let's get after it here to share how you can make better use of your time and find more hours in your day. This is Bob Mulhearn time right now in. The world is such a scarce resource and so many people's minds. And what I really hope to do is actually we save you a one hundred hours by just providing some very practical tips to help you be more efficient and then of course give you some thoughts on how to use that time. I'm so that once you have it you use it in a way that believe leads to your success and happiness. I like to tell people a little bit about what I call Bob's deeply satisfying life. I have a wife of thirty one years nine wonderful kids for grandkids. I ran a big operation. Thirty million dollars plus commercial real estate business I one of the founders honors a great hearts academies and. I'm the president of the board. So it's great for me is that I'm usually by four thirty. Because they're going to get the kids up at six and I get an hour and a half of my own time and in that window of time I reflect on who I And I get my exercise in and so then the kids get up now. Family take time right is when it come into work. I have a different energy about me. Really what fires me up. Every morning is to take advantage of that time and to enter my day that way. I've made time an abundant resource in my life. But I've also been at this a long time so if you're just getting if you're a high schooler you have a whole different set of have responsibilities. I know because I have high schoolers. If you're just starting your career again you have different opportunities or even less freedom. Run your schedule that I do as somebody who's been my career for a long time. So what am I going to urge you to do is take one step at a time and hopefully today by the time Dan that'll be a couple of steps for you to take and one of them is if you're not always he's plugged in so to speak to. You're gonNA miss out on things and if you're not played in all the time you're gonNA miss but you're gonNA find over time that really. There's nothing really significant that you tend to miss out on and I think that another trap is that people don't find a way to stop their work in begin their lifetime. A lot of people like to say that does have to blend together and think crazy if you try to separate them I say that separating them as the only way to go and then I think there's another trap which feeling obligated to answer all these requests that come our way. There's so much data coming at us that people take the data turn into what they call information. People try to gather information together and call it knowledge. And I'm saying that all all that we fiercely compete to give away for free but what I'm talking about now kind of goes beyond all those and what I'll call the timeless wisdom on how life can be happy the and balanced no matter what the circumstance. So maybe we'll say my phone is killing me especially emails and I'm just going to say that I used used tool called sane box dot com S. A. N. E. B. O. X. dot com. It cost nine ninety nine a year and it can be used these two with whatever you're using it works with outlook it works with g mail. It works for the office three sixty five and what it does is allows issued to tell your emails where they should go some of them go straight to the trash. That's called the black hole and just to give you a sense. Every week I get about fifteen hundred emails and over seven hundred and fifty of each month are automatically deleted. They go right to the black hole so sandbox sends me an analysis of every week in thinks mm saving eight to nine hours a week. Let's say it was only five hours a week. I remember the first time it said one hour couldn't believe it. I'm thinking well that's fifty hours a year five hours again times fifty weeks and that's two hundred and fifty hours another easy tool that easily saves me an hour. A week is Calvin Lee. Dot Com C. A. L. E. The N. D. L. Y.. Dot Com in. It's a great thing somebody calls me says I'd like to get together. I invariably send them back. Link that says used as linked to find a time on Mike Calendar and you can set parameters on that so in other words I could send somebody a link that they couldn't make something on Mondays Fridays or nothing before ten or nothing after four. Four I can send a twenty minute link a thirty minute an hour a lunch and I will tell you that easily saves me an hour a week. So there's another fifty hours just by using the simple tool I also use upward dot com or tasks crab at her fancy hands dot com or grew dot com. The price is low. The turnaround around is fast and the results are reliable. So I'd encourage if you haven't used one of those to take a look at it. I remember one time saying I need someone to come to. My Office is to teach me a particular program and found out that the resource for that was literally across the lobby from me which I had no idea about and I found out by going online. So you never know what the solution is gonNA come from. But it's easy to post it and against save as much time as you want. And there's a lot of just time-saving mindsets one one of the most important mindsets is to actually pass on things. That are very good. I mean I was invited for example yesterday to a really good reception that was down but it was sandwiched between two things. Were very important to me was recreated and one was a family birthday dinner that same night and so you just have to say Gosh I. I don't care how good that was. I'm not gonNA just rush down there be apart and rush back and just those simple decisions have cleared me up to do what's most important and so the things I do work on. I think people say all the time. Gosh for guy. That's busy as you are. You're sure an easy guy to get an appointment with or busy as you are. You sure sure don't seem worn out when we're talking and you seem focused on me not distracted. I think all that comes from me just refusing to take on good things. That just just aren't as good as the most important things. But if you're tired you know you're not doing it because there is time to do things that are really good and time consuming consuming and still be able to have plenty of time for family time for reading time for reflection another one. I like. Don't lose by your own rules. So many people Samina train for whatever whatever this is and be ready by this date and usually the timeframe is not realistic and so they ended up losing because of a rule they said and they're afraid to change the rule I will constantly I say to myself. Hey that's something I decided I can change that in. It's simple mindset but it does save lots of time I just would look for progress not perfection. I've I've gotten to where I am one step at time and I'm older than probably most people listening to this but I will tell you day after day week after week. I've been serious about these things and and it's all based on a number of small steps I've taken and habits I picked up overtime. You need to start with something that you want to do. That would encourage you to take take one of the tools or one of the ideas and get that down master. Look at the list. Don't say I'd have to do this without say I would love to do that. Get down and then add the the second thing I think if you add two or three away three weeks from now you won't be doing any of them if you just add one and focus on it and it'll start you off in a path that will go on and on to great things.
"real estate business" Discussed on Elevate: The Official Podcast of Elite Agent Magazine
"Yeah it's really kind of amazing to me you know you can go onto Amazon and go look for a fifty dollar anything almost and be able to spin it around look at it and get every view of it you can but five hundred thousand dollar house you get crappy iphone photos and no real understanding of layout and I I don't get it as a consumer really frustrated by that kind of experience and that's I think that's partially why we're seeing some of the potential changes that are occurring in the marketplace with companies who are trying to systematize all of those approaches to things making certain that the consumer variances being delivered is consistent from home to home the home to home and that's a struggle in traditional real estate you listening to elevate the official cast lead agent for real estate industry sales professionals property managers and leaders each episode we bring you the best minds in business in real estate help you sell more and elevate your results to connect with all things a lead agent including the latest news coaching and features subscribe at excite elite agent dot com welcome to another episode of elevate podcast where we dove into some of the most interesting minds in business and in real estate for the your best chips and strategies feed implemented elevate your business I'm Samantha McLean editor of elite agent and host of this show I am super excited to bring you the this week's guest someone I met back during two thousand and eleven who I consider to be a true thought later in the industry particularly in all matters digital and that is sort of after Speaker and consultant Jeff Channel Jeff has been a leader in all things digital in the real estate industry for as long as I can remember and now he helps takes ah we understand and navigate the real estate industry is part of the incubator program he's a much to speak on the cross section of technology trends human behavior and of course artificial intelligence some of you might know Jeff from his time at real satisfied viewer and duckie sketch and also for being a friend to me us all these at conferences in this podcast you kind he jeff choke about what makes a startup in the industry luckily to succeed where he sees the role the real estate profession longtime he's thoughts on traditional brokerages versus some of the new start up models and importantly what other things real estate agents nature you're now to get ready for a world which already includes artificial intelligence I am showing you guys are GonNa get a lot out of this episode with Jeff China Annual Nature Type plenty of nights particularly when Jeff talks about some of the actionable advice you can take to help future proof your business if you wanted to save time and if it doing that as we've done the hard work for you lots of you are already dialed into a late agent extra where we aggregate all of the best action tips until from all of our podcast mm up into an ach package and deliver them right to your door in the form of a good old fashioned easy to read newsletter so that sounds like an option you'd like to check out two elite agent elevate dot com and once you've downloaded this week show nights that big green button to sign up the extra and we'll send you all this month good stuff in the mail as well as giving you access to Albano from all about previous podcast guests that's it from me for now enjoy the Shar so welcome to the podcast geoff ten must be here yeah it's great to catch up with you again finally because we seem to catch up during these flat eighteen the being in Australia may being in the US it always seems to be tied to an itinerary it doesn't quite fit either one of schedules quickly I nine and Archie thousand eleven I think it was when I first met you I think you may and Larry Scott with any tree people on twitter back then and you gave a great speech on listening skill tools which I think is relevant as well again today live memory of that is not the same as yours I thought I gave a horrible presentation and I think it was Ainley because it was my first time visiting Australia and I hadn't learned to speak Australian yet and learned to assess Australian humor standing in front of the audience I was lost literally loss I'm glad you remember it better than I do now I do remember it well because I felt this guy really is what he's talking about and there were a lot of experts a lot of Americans was not the ye that Rudy Giuliani came out I have the misfortune of following Giuliani which probably didn't help with my nerves at all I might not be as nervous today as I was then yeah absolutely oh we both come a long way but can you give us a bit of Print Division One division focused on digital printing one was sort of a true digital design company that got started very very very early league in the digital design stage Nineteen eighty-five so I've been at the digital side of things for a long long time in the third company was a newspaper digital premiums the company and we focused on automation of newspaper ADS The building of newspaper ads and after I sold that company in Nineteen Ninety nine looking for something to do I came up with a way to to do virtual tours that hadn't been done before it's done by everyone now but at the time we were the first to do it and so that was in two thousand one so I've been playing along the edges of real estate technology now for eighteen years so I guess yeah wow and so is this something that you find fascinating about real estate technology like what is it that you really like about this industry I think there's a misconception that real estate is the most backwards industry on the planet when it comes to technology and I'm not hundred percent convinced that that's true I think it's just a very difficult industry for technology companies to break into because of the well in the united states specifically the independent contractor status of the agent and this sort of maverick feeling that every single agent in their own little business makes it very very difficult to wrap your hands around the structure of it all it's becoming less and less of the wild wild west as data standards improve as your ability to get to data improves I think there's a lot of innovation that takes place and the second side of it that I find really intriguing in probably the most important side of it is that agents are by necessity some of the best social networks on the planet and so the really good realtors and I ended up spending my time around the really really good realtors there just really good humans that may sound a little bit pollyannish herb unicorns and rainbows but I don't spend my time personally around non-performing agents in there obviously lots of those and so the best of the best are really really good at what they do and the really good humans and they almost have to be because of the nature of what you're doing and working with someone as they move into a new home or sell a home I mean it's a very personal thing you're doing volt gotta be condom on the cutting edge of everything else is going on well I think that's it it's not the real estate industry is behind it technologies they're very discerning about things that work and don't work of course there's always a little bit of Shiny Objects Syndrome that takes place in people end up you know buying things they don't need a conferences etc but in general I think the people who are successful in this industry understand what works I understand what doesn't work and they're not as susceptible to the hype of a piece of technology when it comes to their business they're going to run it through its paces come along and they'll be chattering the facebook groups and stuff like that like all another Roeber or another they sort of abet thought we were the parochial ones well hyper said this a number of times on that trip in two thousand eleven I met David King Infidels who founded real satisfied in Manly Beach Australia and I've loved technology and I loved it for lots of reasons it was well thought out it was a really well executed piece of technology fabulous humans and I've since come to see other technologies that have started in Australia that have a similar feel you know they have really a good design thinking they're not just throwing stuff up against the wall and I think there's something to do with the Australian market and you can.
WeWork Announces Billion-Dollar Loss as it Prepares to Go Public
"This episode of business wars daily is brought to you by sent pro online from pitney bowes shipping and mailing from your desk is never been simpler than with sent pro online from pitney leabeau's. Try it free for thirty days and get a free ten pound scale when you visit p._b._a. Dot com slash b w daily in uh from one. I'm david brown and this is business warriors daily on this tuesday august twenty seventh we work the enormous us real estate company that made its name renting co working space to startups filed paperwork for its i._p._o. Earlier this month in could go public in september that i._p._o. Has been eagerly anticipated but the perspective has drawn confusion instead. It's filled with contradictions and some downright weird stuff stuff so odd in fact that inspired bloomberg op ed writer shiro vide to write one of the best leads recent business journalism history and i quote i get paid to write words for a living and i am nearly at a loss for words about we work companies. She said now let me try to explain lovie days. Speechlessness snus adam newman founded the company in twenty ten with a vow to transform the way we work he wouldn't just rent office space to freelancers lancer and creatives he'd make beautiful and above all communal after all the growing hordes of independent workers are lonely. Newman's concept could solve not just the need for affordable physical space but a more existential problem as well in two thousand ten newman's company had two locations in new york and four hundred fifty tenants whom we work calls members by the way we works parent company changed. Its name to the week company earlier this year today. Only only nine years later we work claims five hundred twenty eight locations in one hundred eleven cities around the world and five hundred twenty seven thousand members. That's a lot of numbers and we're not even going to try to do the math to figure out the percentage growth. Let's just say it's insane and that we work claims to be the largest private holder of office space. Yes in manhattan london and washington d._c. But it's losses are also enormous its biggest investor japanese tech giant softbank values the we company at close to fifty billion dollars but it lost nine hundred million on revenues of one point five billion in the first half of this year alone. The company is also obligated. You pay close to fifty billion dollars for long-term offices around the globe over the next ten to fifteen years. We company officials say they'll be resilient to recession kids but real estate businesses stuck with long term leases have struggled in previous economic downturns one of those was we work rival. I w g i w a._g. Owns the regis brand of flexible furnished office spaces that company filed for chapter eleven bankruptcy protection in two thousand three office vacancies had soared after the internet net bubble burst and i w g was obligated to pay rent on all those empty offices today i w g has six hundred two thousand desks in offices across across the globe only two thousand fewer than we work. It's been profitable for years. The wall street journal reports despite its profitability its market cap is less than five billion billion under ten percent of the week companies unicorn valuation. The reason for the gulf in values may lie in the difference between the two companies narratives ribs regis portrays itself as a real estate business but we's adam. Newman refuses that term according to see n._b._c. Where not a real estate company. He says we're a community of creators. The journal says newman has referred to the we company is a physical social network invoking a mind bending metaphor for social life in the real world mimicking that which is online they just happen to be growing community through leasing offices and a few other communal businesses as well such as apartments call we live and even new private schools called. We grow one question. Stumping bloomberg's shiro vide and others is whether we company actually has a path to profitability or not and whether a real estate company asari adema community company employing the fast growth strategy of tech startups like uber and lift will soar or deflate on the public markets. We'll be watching whether this this one works from wonder. This is business wars data. Hey feel like this episode. Sir chartres with a friend and show them how can subscribe for free. We're so grateful to our view of listeners. I'm david brown back with more. This episode is brought to you by send pro online from pitney bowes shipping and mailing from your desk desk has never been simpler than with sent pro online from pitney bowes with simple online is just click sand and save for as low as four dollars ninety nine. Yeah that's right four dollars and ninety nine cents a month. Send envelopes flats and packages right from your p._c. And you are back to business in. I'm not-i'm try it for free for thirty days and get a free ten pounds scale but only when you visit p b dot com slash b._w. Daily that's p._b. Dot com slash b w daily.
"real estate business" Discussed on Scale The Podcast
"You have to plan at least st year and sometimes a little bit longer to be around. Maybe not fulltime active but be around for at least a year if not on a little bit longer. If you want to maximize your price yep okay so we're gonna start taking questions a little bit more time with i want to respect respect his time not thousand dollars an hour so this guy is brilliant bright <hes> so let's talk a little bit about model because i think it's interesting. What's happening in your in the middle of it. We've got a flat free a fee discount brokers. We've got the online models we have an emerging urging tech models you know where there's no office <hes> and so there's all these models out there chuck like help people understand as the brokerage as an agent like what should they be moving towards. If that wrong your own practice we have we. We have said this afford that they were. We're evolving into what will cau- a bipolar industry you're. You're gonna have on one end. You're gonna have walmarts yep. Let's call them he x._p. Or realty one group or home smart or benchmark or signature. I could go on and on right three hundred dollars transaction one hundred dollars a month very low cost to agents. It's not a ton of support large offices if any offices he x._p. Sixteen thousand dollar cap office where you want lotta infrastructure in terms of personnel to support your practice right. You're g you gotta kinda yeah. They have online webinar. They've stopped but nobody to cut a network within office. No none of that so you got you got the walmarts and the t the walmart target over here and then over here. You're gonna end up with a few tiffany nordstroms type companies. Yes that are that are south. Abe's there's a number of great sotheby's companies. That's a great brand to great brand now. They tend to be a little bit more premium price in favor of the broker because that's a great luxury brand really good. Angle volkers is trying to establish that that type of brand. You have niche companies. There are special specialist in luxury homes or in new homes or in ari outs. I met with the remax company at our four last week. They're doing a ton of our. I didn't realize we're still a whole lot of our ios out there but they are. They have a broad swath of territory in new new england were there the fannie and freddie approved guys and they do such a good job. They keep getting more business. They're doing hundreds of deals a year and they're a great right and so they'll be they're not just all high priced but their specialty yet specialty in between gene no fun get out though fun you either go this way or you go that way. Okay and what we tell. People is how's how's the middle working out for sears j._c. penney's kohl's and borders and toys r. us and they got caught in the middle right and they couldn't they couldn't compete on the with low cost of amazon and wool mart those guys yes yup and they're not really specialty because you could find all the toys r. us toys in walmart. Sam's club costco and and other places short amazon just online right. You don't have to worry about whether stocker now or go to target for them right so so they got caught. They got caught in the middle. Don't get caught in the middle. We've told brokerage companies who are kind of that mill area. If you intend to compete it'd be healthy three to five years from now. You need to plan on a gross margin accompanied dollar percent of about twelve percent okay. I don't care where you are now. You need to write a business plan for how you're going to compete there or you're going to shriek your footprint and you'll be going to become a specialty company like another great specialty company right now. There's two that come to mind. One nationalist cups cops right. They are typically buying only top reducing high end aged. They're creating a specialty company not perfectly but that's what they're that's. That's what they're aiming to do and you're only going to be in twenty major. Metros right was a few add ons like aspen you know markets like that you gotta company in four calls. Colorado called the grouping and the group inc they only mostly only hire brand new the people <hes> because they have a system a real system for taking a brand new person which they select carefully and they put him through three six nine twelve months and they know if they do the work and they're held accountable and their coach properly. They'll be doing a six figure. Gross rosen jump in twelve months right and they go people how they know that we've been doing it for forty years. We know what works. I love it. We've got a ola aw comments here got glorious has great stuff and she says thank you steve. I welcome gloria and then stewart from happy grasshoppers here so what's what's up dude. <hes> we have a question <hes> mike derosa <hes>. I know this guy. He asks you know e. X. p. is operating trading at a loss with seventeen thousand agents <hes> and and they're basically removing the responsibility from the brokers which is why brokers are moving over there. How does that impact sale of brokerages in compared to previous methods. Well you know united chatted for live live. The valuation of brokerage companies as i said earlier as declined right and we have fewer buyers fewer large buyers that are willing to buy into a housing market. That's kinda soft yep and also by to a brokerage market where the gross margin and profit margins are under pressure. There's a little hesitancy to go in and buy brokerage bridge sits at an eighteen percent gross margin when all around that company everybody else's twelve right so z. x. P. encompass and the whole sparked realty one group effecting valuations absolutely their way absolutely they are there and they're affecting the economics of their competitors right so you know the key is but you know so but it's like home smart. You know they're big player now. They're getting larger larger. <hes> they came up to denver a few years ago. Nate paid of berry handsome price for the largest ho smart light company endeavor <hes> mhm now and i like i like to gentlemen is mike derosa. Yeah yeah e. x. P. is losing money the bigger they get so far the more money they're losing. They can get away with that for a while same thing with compass same thing with zillow for a while wall street will let you get away with fat but sooner or later you've gotta prove you gotta plan to get to profitability that that your model will increase its profitability odi the the war scale you get right the jury's out clearly. The jury has got to be outright now he x._p. And cups it might be out on read. My personal view is to have a substantial business process a substantial online process process and pretty good metrics of what it costs for them to get a closed customer okay and i think they will figure out the not too distant future how to get the profitability and and really had a push that profitability up. I think i know how they know how they get there i and i i think i see how they're going to get there. I don't know how x._p.'s going to get there and i don't. I don't know enough about compasses internal financials although i could bottle them right a model. I don't sure how they get there. We're in a time where wall street silicon valley still have this absolute absolute like brain cloud going on that they're going to be able to disrupt the relationship between agents and consumers right. Ah even though our own every four years we hire the world's best research firms harrison sites do consumer study recent buyers and sellers the the percentage of buyers and sellers that used agent last summer was the highest it's been since we started doing the seventeen years ago ray so all list tech isn't causing buyers and sellers to not use aids. We already know that right also know that how they find an agent egypt still roughly two-thirds. It's well. I know one or somebody referred me right hasn't changed in thirty five years. Why why i hasn't that changed. I'm just kind of curious because a lot of people think that there's some major shift or disruption happening in the real estate. World will be yeah we'd lead here. It is buying or selling a home. I is infrequent. This isn't buying a bottle liner booking hotel overuse it yeah. This is like every six eight nine ten years roseby number two. It's highly complex and getting worse and lastly the interesting thing about americans. Collectively americans are pretty smart shoppers. Not i didn't individually we all get stupid down that but what we know is she beings is we will do anything to avoid pain. Shaw is the number one motivating thing emotion for people is avoid pain right americans understand.
"real estate business" Discussed on Scale The Podcast
"Back what you paid yourself cars autos everything but then you have to deduct knocked okay. If i got to hire someone to do what i did. How much does that cost a and we get to this. What we call adjusted eba yet those kind of adjustment we also adjust for nonrecurring expenses and we will go into all that right now you look at that eba and you put a multiple the poll on and this is where everybody gets more. What's the multiple everybody wants. No multiple multiple for brokerage companies and brokerage bridge companies can range today from two to five and a half okay okay well jeez. That's a the big range and it is to would be for instance small brokerage small metropolitan area no growth right just just there yet <hes> five and a half would be large brokerage brokerage probably independent brokerage large metro that kind of gives you the two steaks and i'm guessing there are very few five and a half's very very few. The sweet spot hot right now is between three and four okay and we talked a little bit about the market shifting because of what's happening in talk about that a little bit about selling like what what are the things that are happening right now. For twenty years leading up to a year ago yet we too big companies bind brokerage companies as fast as they could buy realty and berkshire hathaway home surplus yet now. There are some other other regional companies buying that those two guys drove the mark yeah. They paid the highest prices and the best terms realty. He dropped out a year ago january. They're not buying brokerages. Yep that meant that gave homes berkshire-hathaway the right to you. Don't have that kind of competition so they backed up a little bit. They lowered the little bit then you had housing sales start to go down yep bob dole that berkshire hathaway said well. We're not going to keep paying high prices in downmarket and everybody has followed that doubt okay. Eh all the buyers out there generally are well below twenty or thirty percent below what they would have paid eighteen months ago there off twenty to thirty percent today. That's crazy. <hes> we've got a question it's one of my favorite questions ryan <hes> solberg as how can when i hire an assistant to grow my business stephen. I'm gonna actually ask you. Did you talk about that and then i'll follow up. How how we help people in my you know my best answer is pretty simple and i think you've said it. Daniel and i think every expert who knows really knows what they're talking about has said and i practiced is here. I finally had to give up doing twenty dollars an hour work because i'm a thousand dollar our guy that's right and and so we when we did the first time i hired a non on revenue producing person in our company was about five years ago. They go five years ago and within three years of doing that. We double the size of the company because i was doing twenty dollars an hour stuff anymore simplest thing i can tell people not not to mention party not to mention you then is leader owner of your practice your business and this same truffaut broker owner owner yup. Look at what you're doing and you say well. I don't wanna add overhead how much your time really look at your time. Are you spending bendy in in those priorities that grow your business recruit agents or develop agents or focus of your team lead gen jan building your database wet when you gonna realize that you're where's your time best spent and can. I get somebody to do the other stuff while you okay so. I love we do this thing. It's called the sticky challenge stuff. You're listening right now. You need to go to my outguessed dot com or slash. The real trends and download these multi year kind of report because it's a big deal but steve. You'll like this because anybody can do it. <hes> we call it the sticky challenge and you just follow yourself around all day and then you write down. Did i talk to a client or did i talk to a potential agent that i'm recruiting up by one hour and that's dollar productive and that's the most important stuff and write about the three priorities like if you just follow yourself around down and you find out how much of your day is spent on doing adnan tasks or surfing facebook or i mean it's insane. I mean most people bowl when they come through into a confrontation with us. We find that they're sending seventy percent of their day on stuff that just doesn't matter and then their business valuation in is going down right and so we help people focus on their priority leverage what isn't in your unique skill set and then and then your your business is rose. I mean we all we call it. A double. My business strategy call sociopathic. Your world is exactly that same thing for guy running consulting publishing company you have to you have to keep three priorities of you have more than three parties. You have no priorities at all. I love that you say what am i going to focus on today and you know eighty percent of my world is at work right is pretty much client where maybe it's seventy and another another. Fifteen percent is researching reading and writing. I do a lot of writing podcasting for our company. The other fifteen percent is working with our team of twelve twelve. People here real trends making sure. We're all staying on task that were on our calendars that were countable. We we have leadership meetings once a month to review the month. How do we do. We have impromptu meetings. We have a lot of meetings. There's no chairs allowed. We don't sit down. It's a quick were standing. We'd resolve an issue. Let's stand. Let's take a lot of time. Let's decision. Get everybody on board and get it done and move want and we assign somebody say email. Everyone confirmed what we disagree. Do let's get this move the honest i love it anyway so backed evaluation evaluation so i talked about how you value a company and one part of it is the price which i just talked about yeah they're earth. We could do do an hour on the things that might affect it but that's generally what i told everybody. That's true then. There's the terms okay. So how was the price paid right. There's no such thing as all cash at fair market value in our industry does not happen or it happened so infrequently. I can say it doesn't happen and whether it's a team or a brokerage brokerage these days generally. Let's say cash now is twenty five twenty or twenty five percent to forty to fifty percent okay and the rest will be based on the future three years performance of the team team or the brokerage right that team were brokerage replicates its past past twelve months performance for the next three years. Seller will.
Realogy Joins Forces with Amazon to Sweeten Real Estate Deals
"This episode of Business Wars daily is brought to you by sent pro online from pitney bowes shipping and mailing from your desk is never been simpler than with sent pro online from Pitney Bowes. Try It free for thirty days and get a free ten pound scale. When you visit http the DOT com slash B W daily <music> from one? I'm David Brown and this is business wars daily happy Monday friends a couple of weeks ago. My family moved to a new house is our dream home. We'd ided for a long time and when it came on the market we jumped. Jumped at the chance to buy it. We did our real estate transaction. The old fashioned way our agent worked with their Asian each of us paid our portion of the customary fees and we'll do it all over again when our old house cells to most of us on the outside of the residential real estate business. It probably looks like that industry hasn't changed in decades <hes> but we are wrong. Real estate brokerages are in turmoil up ended by what else the Internet there are new online ways to buy and sell houses in new ish ways for real estate agents to get valuable leads and that's affecting the ability for traditional realtors to make money which leads me to last week's news which caused a big stir in the real estate industry realty conglomerate that owns brokerages bridges like century twenty one coldwell banker in Sotheby's is launching a new partnership with Amazon called Turnkey through a turn key portal on Amazon. You'll search for a house in putting some specifics about your dream home. Amazon will then provide. Provide you with a choice of realty real estate agents in your area. If you use one of those agents to buy a house well Amazon promises to give you products and services worth up to five thousand dollars the program rolls out I in just fifteen real estate state markets and hardly everyone will qualify for the full five thousand dollars to get that you'd have to buy a house for seven hundred thousand dollars or more still what you'll get if you go for it Amazon home services like unpacking thing in painting and smart home products like the ring doorbell installed by Amazon of course realty will pay for the Amazon gifts from its commissions. Some analysts say the deal is a big win for realty which has been struggling its stock price jumped twenty five percent on the news but others see it as a desperate ploy real. G's market valuation is down to six hundred million dollars from a high of more than seven billion only six years ago according to The Wall Street Journal the Forces buffeting Real G. R.. Many the luxury housing market the company's primary targets slowed last year at the same time. It's brokerages are keeping a smaller percentage of agent commissions in case you don't know how that works. Brokerages have traditionally found leads for their agents and split commissions with them but more and more agents are finding their own leads through zillow meaning realty takes less of the commission so real. G. NEEDS A new way to provide leads to agents one that circumvents zillow so you might think that Zillow is real. G's biggest problem once again you'd be wrong. Realty has at least two other big problems. One is upstart online competitors called I. buyers like open door and knock which promised promised to buy or sell your house for you without an agent keeping commissions down but even more challenging to realty and two other big brokerages is a six year old Silicon Valley Company called compass. It's been luring veteran real estate agents away from competitors. Hitters by promising wapping commissions in some cases taking nothing themselves for the first several transactions now compass is funded by investors including Softbank and it's valued at more than four billion dollars a washing cash. It's been acquiring brokerages at a rapid rate furthermore. It's executives admitted recently that they haven't yet formulated a plan to actually turn a profit but compass does intend to go public that no profit but go public formula sounds a a lot like what was happening before the Internet bubble burst in the early two thousands remember but in the meantime compasses making misery for Realty Realty recently sued compass alleging the company stole company secrets and persuaded agents to violate violate non compete agreements among other things realty denies the claims what we know of the real estate industry may look entirely different within a year or two no. You won't be able to buy a house on Amazon at least not yet but. When Amazon enters the picture will you know things are changing and fast from wondering this is business awards daily? I'm David Brown happily ensconced in my new house still in Austin. Hey tell us a little something about you. Would you go to wondering dot Com. Slash survey answer a couple of quick questions. Thanks so much we'll see this episode is brought to you by central online from Pitney Bowes Shipping and mailing from your desk has never ever been simpler than with Sunpro online from Pitney bowes with simple online is just click sand and save for as low as four dollars ninety nine cents. That's right four dollars. Ninety nine cents a month. Send envelopes flats and packages.
"real estate business" Discussed on Real Estate Mastermind
"Them cents however for your real estate business especially owning rental properties you will never be considered a big business you have to have over twenty five hundred employees to be considered a big business and guess what you can be making two hundred million a month investing in real estate and still not need 2500 employees to do that so see corp is a great option i'm not going to go deep into it it's a great option for other businesses but for those of you that are in this real estate program to learn how to have a real estate business to learn how to buy and hold real estate than a see corp is not your best option so just to recap to close this conversation out number one best option for rental properties is an llc best option for a flip is an ask corporation and you know what they actually make it really easy for you check this out when it comes to watch this long term it's holds longterm holds you do inside an el al's c is the other do then and when it comes to short term flips you do it inside an s court so that's an idea that backwards that's whatever that's an easy way to remember that short ask corp long l l c that's all you're going to want to use now egmont attorney absolutely not mi cpa absolutely not but guess what ever real estate investor that i am friends with that is doing at a high level does it just like me i have one of the smartest most talented real estate attorneys and the whole freaking country working for him has his own law firm but he's my attorney this is how he set it up for me and again the whole point of the section wasn't to be your attorney wasn't to be your financial planner wasn't to be or accountant it was to tell you what these things are and what those of us who are doing this business at a high level how we structure our assets our taxes are things like that and then to continue to emphasize before you implement any tax or legal strategy g always always always consult with a tax attorney or cpa or a real estate a turning before implementing anything he just learned in the section
"real estate business" Discussed on Giant Bombcast
"Bowling alley lady a sort of apologizes light look we couldn't really get this is this is the best we could do and there's like this weird staredown between curie you and nuggets where you can kind of see them staring into each other souls and like seeing something in their like a kindred spirit can equality and then after that nugget the chin chicken joins your real estate business and becomes a manager of your real estate business thursday authority he is negative chicken works for you probably play autism yeah that said it is it's a short ouragan a funny thing that i was probably not altering can i say i queue 'capi probably shouldn't be on those sarah wayne callies and i think the dragon yes those were both barely characters the i agree with that mario as more of a character in that same fieldsman i know the ultimate opportunist julius going further down the oca's zero is like i considered putting like a 10 and coups aon they're like those guys will have really intense arc throughout that game they are just also such fucking pieces of shia causes for frigate nishitani will also being a piece of shit like makes an incredible impression for the relatively short amount of screen time that he has ya as part of the way he goes out yeah pretty good all right disease stumble towards won't get shot that guy times and just keeps going toward the guy who's going to kill him while also saving you from getting killed he's also pretty gross but the i mean look he's he's an ass the ad they're all sime backslide already these three oranje.
"real estate business" Discussed on The Jason Stapleton Program
"And say hey man how did you talk to me about now you raised your kids how did you go fire for yvonneraisin no productive members of society and go 445 on raising brilliant business people that were willing and ready to take over the company business none of these guys decided they wanted to be artists are actors or something like that all of them decided that they want be involved in the real estate business you got this tightknit family the defends each other and back others up and cover the covers well there's backs how do you build that how'd you do that that that to me is more impressive than every other financial thing that he did in his life you agree with that yeah that's a that to me is incredible and it's something that the man doesn't get any credit for no one looks at it an says de is a guy who's really the person that everyone sees on tv then guy that everybody see in the tweets is that really the guy who raised these kids or is that a facade is that a persona that he created in order to advance his empire i don't know the answer 'cause i don't know the andi finding credit lee into resting that he was able to do that and and he was he was able to be a successful father and parent even though he was a bit terrible husband and uh and men of and a successful business.
"real estate business" Discussed on Christy Wright's Business Boutique
"I actually had some experiences working with people who weren't helping me but i wonder keep them on because i felt that or things like that and so i did change up our staff and that was heart because you want to do a good job and you wanna be a good mentoring really they look back on it i could have handled things so much better the beginning but it didn't work out that way so work better can i have a clean slate and start new and i can't tell you what freedom that gave me to actually realise i can choose for myself i get to run my own life i get to decide each day which foisted i listened to the like that lizzy late it elated me i think just the courage to say my business deserves the best that i can give it and that means i gotta have the courage to cut out anything that's just dragging me down building the business with her husband has been challenging but she's the first to say that it's also incredibly rewarding heat worked in corporate jobs and an stuff real estate business development and had really good jobs that he wanted to be home with us and he wanted to work with me and he wanted to just be there for the kids and so the schedule we have now is that my husband runs carpools and as laundry i do roche res and the whole family has a smoothie every day after school together the children are around us both mom and data there are marriages stronger than it's ever been and that didn't happen easily hours global years working together across the dose glory kind of bothered each other alive it was through for hard which.