Posted on: February 19, 2022
WI 890 | Effective Marketing Channels

 

Today’s episode is the continuation of the rhino roundtable discussion between Brent Bowers, Brent Daniels, David Dodge, and Grace Mills of Wholesaling Inc. They discuss effective marketing strategies to attract prospective clients.

The coaches discuss the three methods of lead generation- marketing, referrals, and prospecting to establish a good list of leads. Also, they share how to utilize various marketing channels and techniques to be successful and attain financial freedom.

If you’re seeking expert advice, then this is the episode for you!

Marketing Roundtable – What are the Wholesaling Inc Coaches’ Most Effective Marketing Channels – Part 2 of 2

I have an amazing episode. I’ve got some amazing people on here with me. This is the first time we’re ever doing this. This is the trial run of the first-ever rhino roundtable. I’ve got Brent Daniels, Double D or David Dodge and Grace Mills. Let’s start with Brent. How are you?

I am fantastic. I’m excited about this. The format of this episode is about best practices around marketing and lead generation. We all know there are three ways that we can get deals. We can do marketing, which is where we’re paying people to give us a call. We can do referrals where people are sending us opportunities. We build a good network and become the guy or gal in our marketplace. We go out and prospect, which is where we’re being proactive, reaching out and going after the conversations with the property owners.

Let’s not get it overcomplicated in this rhino roundtable here. There are only three methods of lead generation. It depends on where you’re at in your business and which techniques are going to be the best. I’m excited. I love all the deals that David Dodge has done and has put on social media and the huge portfolio property. I’m interested to deep-dive. There we go.

Brent, thank you so much. You said it so well. In 2022, what’s working in our businesses? What’s not working? With that being said, Ms. Inbound-Outbound, you gave me the definition of that. Grace of REI Radio, how are you?

I’m doing awesome. That is a hilarious follow-up. Brent Bowers and I were talking a little bit about that. I’m happy to be here. I’m excited as well.

We’ve got two of the best marketers on here but David Dodge as well, who left the closing table buying three more rental properties for his BRRRR system. How are you, Mr. Double D?

I’m doing great. I’m glad to be here. I’m excited. It’s either hunting, fishing or referrals. That’s it. There are only three ways. Keep it simple

It reminds me of that country song, “Hunting, fishing and loving every day.” Let’s talk about where you left. There are three more properties in your portfolio. Let’s talk about how you marketed for those. What’s working for marketing for David Dodge?

We refinanced three, used the BRRRR method and put them all the way through the entire method. It usually takes a couple of months to get through the method. We packaged three of them up and got a 30-year fixed-rate commercial loan with a new lender that we are working with. Sometimes we will package them up together to do that and get better rates and terms. All three of these came from different sources. One of them came from a cold call, an AdWords lead and a referral. That’s all three of the methods.

Your end goal should be control of your schedule, control of your time, and financial freedom.

You checked every single box. That’s incredible. David, how many properties do you own?

We have over 60 individual properties and about 88 doors.

What is your income from that, ballpark, gross and rents coming into your company? It’s around 88 doors. It’s got to be close to between that $60,000 and $90,000 range.

We’re somewhere around $75,000.

That’s $75,000 in income every single month that you’re making. That’s a million-dollar business.

What are you netting?

We do fix and flips, wholesales and some other creative things. From the rental portfolio alone, it’s usually at least $15,000 net. In a good month, it could be $18,000 or above if we’re not having late pay, vacancies and turnovers.

That’s $15,000 to $18,000. Plus, you’re paying off debt every single month. That’s not a tremendous amount at the beginning or amortization of that loan but you’re still paying it off and you get tremendous depreciation on your personal income tax.

Brent, the key here is that somebody else is paying this off. That’s the beautiful thing about it.

WI 890 | Effective Marketing Channels

Effective Marketing Channels: Every rental property is like its own business.

 

I went and bought a belt at Nordstrom. I wear the shirt every day, all day but not on the weekends. I’m not a complete psychopath. It was a Thursday. I’m buying a belt. The guy’s like, “What’s TTP?” I was like, “Talk To People.” He was like, “What’s that?” I was like, “It’s a philosophy for getting discounted real estate talking to distressed property owners.” He’s like, “I can’t wait to buy rentals because I can’t wait to open up my own businesses.” I was like, “What are you talking about?” He’s like, “Every rental property is its own business. It’s so incredible.” I thought that was a wonderful perspective.

It’s interesting, the path that we go through as real estate investors. That’s why the show is so powerful because if you realize that the foundation of real estate investing is the skill of finding discounted properties, you win. That’s essentially what wholesaling is. All wholesaling is finding discounted properties. It’s synonymous. It’s the same. If you get that figured out first then you can go and build these portfolios, BRRRR, flip, develop, be the bank, start coaching and all these other things. Building the foundation of finding and sourcing those deals is critical.

In the first ten years, Brent, I did it all wrong. I put down 20% on a rental property. If you have $150,000 property, that’s $30,000. I did that 12 times in 10 years. That was pretty good but now, I’m doing that twelve times a month sometimes. Not having to have that money to put down all starts with buying at a discount. You nailed it.

That’s why I wanted to steer the conversation real quick before we get into lead marketing. I wanted to show what’s the end result. Every student that every one of us talked to wants to be able to find opportunities but that’s not the end goal. The end goal is control of our schedule and time, freedom of time and financial freedom. What we get from financial freedom is the freedom to control our schedule.

That happens with buying assets, investing in assets and getting that passive cashflow. When we start, we’re sprinting and getting this earned income. If we’re smart and once you get earned income, first, you got to pay taxes. You have two choices, “Am I going to spend it or invest it?” Let’s say that we’re smart and we invest it. All of a sudden, those assets start earning money. The money starts making baby moneys and getting more.

It starts to snowball. The money that you make from your money is taxed less.

That’s it. There’s a difference between being rich and wealthy. You know how to go out and provide value. You get a bunch of earned income. Wealthy is when you turn that earned income into assets and those assets are now working. Your time is freed up to do what you want.

It’s compounding. David Dodge, I’m going to put myself in the shoes of that reader that’s getting started. It’s the guy at Nordstrom checking Brent Daniels out. I might not be able to relate to all these doors that you hold. How did you get the first couple of doors? How did you get started? What type of marketing did you do with that? Was it direct mail, cold calling or radio?

It was cold calling but I wasn’t doing enough of it. I would do it for twenty minutes. I would be like, “I’m not getting anywhere.” I started doing mail and getting my phone to ring. I started to realize when that happened that I wasn’t working hard enough and that cold calling is a great approach. We still do cold calling. I have several people on the team that are cold calling all day. Direct mail and cold calling were where they started. We moved into doing cold texting, online marketing and radio on and off. I’ve done billboards and driving for dollars.

You want to make sure you have a balance between things so that you don’t miss any options.

There are lots of referrals at this point. The longer you’re in this business, the more people start to know who you are. They start bringing you deals. Those are free leads. Here’s what I like to say. At the end of the day, all marketing drives to a phone call. Either you’re making that phone call out or you’re paying to get yours to ring. If you’re not making the call out and doing something else like an email or text campaign, you still end up with a phone call. That’s where it all ends. This is the marketing business. That’s what this business is.

There you go, Grace. It’s incoming and outgoing.

You hit it on the head. It’s that inbound and outbound marketing balance. I was talking about this. It’s a balance. It all works. You want to cover all your bases. There are some people that don’t mind contacting you to sell their property. They’re like, “How are you? I have a property that I could potentially move.” In the same case where outbound marketing source is something like cold calling, you may need to go ahead, reach out and go, “I’m so-and-so and such-and-such. Here’s what I do. I’m looking to purchase properties.” All of the above works. In the happy place, you want to make sure you have a balance of both so you don’t miss any opportunities.

My team loves marketing calls and pay-per-click leads coming in. In some markets like Phoenix and major markets around the country, if you’ve got over a million people and you’re going to do direct mail, pay-per-click or radio, I want to get your opinion. Let me go direct mail and pay-per-click because I can give data, at least here. It costs between $5,000 and $8,000 to get a deal in major markets that have a million people or more. A lot of people have savings and they can throw it at it but that’s risky.

If you’re just starting, it’s tough to part with that money and have everything in place. Once a call comes, you got to drop everything and take that call now so that lead doesn’t call somebody else because they will. If you don’t have the system set up in place or the schedule because you work from 9:00 to 5:00 or you’ve got other obligations and responsibilities, you have to build your business either off of referrals or being proactive and prospecting. That’s what you got to do because if you miss one of those, nothing is more heartbreaking than spending $5,000 to $8,000 missing that call, calling them back and them telling you that they sold it to somebody else.

That happened to me so many times when I was still in the military. That forced me to hire an acquisition manager to answer that phone or a lead intake to always be answering the phone. We hired the equivalent of PATLive. You always hear about PATLive. We hired AnswerFirst to take those calls from 7:00 PM to 7:00 AM. It’s funny that people hear these radio ads or these TV ads. They still call after hours. It’s like, “My roof is leaking.” If someone finally answers, you’ve stopped them from calling the next person. You want to set those measures in place. I bet your team loves inbound leads, Brent Daniels, because that’s like a day off for them.

It’s easy money. We average $43,000 a deal from pay-per-click. Our main source of paid marketing is we work with Brandon Bateman with Bateman Collective. He does a phenomenal job. He wouldn’t let us spend too much until he tested it out and got it going. We’re spending $15,000 a month and the return is bananas. We will spend more but we don’t want to. There’s a point of diminishing returns with all marketing. It’s smart that you test.

Don’t throw it all at it unless you have the bandwidth to be able to take all of those leads. Test it to get going. If you’re just starting in this business, you got to be proactive. Go out and earn it. Seriously, go out and either build a network of people sending you deals or you got to make cold calls, door knock or send out texts. That’s the blueprint. That’s it from my perspective. We’ve got three incredible coaches on here. Do you have thoughts on that? Grace, what do you think?

It’s all of the above. If you have the time, I will do everything that Brent said. I wouldn’t solely go out and build a network or solely touch base on a couple of marketing channels here. If you have the time and it’s available to you, I would dive into all of the above once you’re getting started because you never know. When you’re out networking, you could run into a potential prospect or an investor that you may keep in your back pocket for future JV.

WI 890 | Effective Marketing Channels

Effective Marketing Channels: If you realize that the foundation of real estate investing is the skill of finding discounted properties, you win.

 

If you’re so new, maybe you come in and play almost like a bird dog for that particular investor. It gives you an opportunity to learn a little bit more about the game as you’re building your network and still stepping your toes into some marketing. When you’re getting started, it’s pretty difficult to get your first deal. You don’t know where it’s going to come from. I’m Mrs. Don’t Miss an Opportunity. I find myself saying that all the time. It’s super easy to miss a seller and a potential prospect.

When it comes to marketing, more is more. One thing that people often neglect and it is so powerful is that they keep their business a secret. If you get into this business, you got to tell everybody you know, friends, network, family, anybody and everybody over and over again because the leads that are free are going to come from those efforts. Do not keep your business a secret. You should be shouting from the rooftops that you buy houses.

You should document your journey, turn your phone around and do Instagram stories, Facebook stories or whatever it is and be like, “I have no idea what I’m doing. I read this blog about wholesaling real estate. I’m supposed to go out and find ugly houses on the street and try to talk to the homeowners. I’ll keep you posted on the results.” People love that. People will support you when you’re out there and you’re being loud but being authentic and vulnerable and not being like, “I’m going to get that Lambo and be driving all this other stuff.”

People don’t want Lambos. Get your Lambo. I don’t care. Live your life. What I’m telling you is you will attract more people interested in supporting your business if you’re humble, authentic and you’re documenting your journey. It is powerful. Everybody that I’ve seen do it has been successful. I’m not joking. Everybody who has been consistently doing it for 6 weeks or 90 days and showing the whole journey, what they don’t understand and what’s going on get support, a lot of love and people cheerleading them. It helps out. David, I couldn’t agree with you more.

Most people want to see you win, especially the people in your network, your family and your friends. There might be 1 or 2 people, the naysayers but they still want to see win. They might tell you, “You’re ridiculous. You’re crazy.” Is that why people keep it a secret because they don’t want to hear from the naysayers?

Yeah. You may not have a lot of confidence. You’re afraid of failure but failure is part of the success equation. There’s no way to get to success without having at least little hiccups along the way. You got to overcome that. I know confidence isn’t something you can take a pill and get. The best way to build confidence is to do and then learn. If you don’t do it right then you’re like, “I know not to do it that way again.” You make these mistakes. I’ve been doing this full-time for a couple of years and part-time for many years. I’m still making mistakes and that’s okay.

I also think people are tasting it a little bit or testing it out. It has been interesting. I don’t know if you have had this same experience. There has been a lot of people that have come into my life whether it be Instagram, YouTube or joining the actual coaching program, that said, “I googled how to make money from home and saw a bunch of different things. I saw what resonated with me. Real estate has always been in my mind. I know that it’s smart to own real estate but I didn’t know how so I started doing this.”

Some people get into this, not like, “I know exactly what wholesaling is. I read Rich Dad Poor Dad.” Some people are curious as to whether or not they can do it. They test it out a little bit. They don’t want to go full feet in. If you’re wondering if this business works, let me resolve that for you. If you talk to enough people, you will find opportunities. If you communicate with enough distressed property owners, you will be as wealthy as you want to be.

It’s all up to you, what you want to build internally first and the machine that you build around you after that. That’s it. There’s always going to be ugly houses, people that have problems owning property, motivated property owners, a market for people to go out there and an opportunity for people to go out there and solve the problems of the 6% to 10% of people, statistically speaking, that is in distress at all times around the country. That’s what I love about this business.

If you don’t have a system set up in place or don’t have the schedule, you have to start proactive and prospecting.

If you’re on the fence here, you need to be obsessed because this is what you and all of us have been looking for. It has changed countless people’s lives that we get to interview the incredible students we have or real estate investors that we talk to all week long. It has changed everybody’s life. It will change yours too. If you’re reading this and wondering if you should do it, jump in with both feet and get going.

That’s such a good point. You said obsessed. Look at Steve Jobs or anybody that has done an outstanding job. I think of Grant Cardone. Love him or hate him, the show is not about him. I see that guy is obsessed with what he does. That’s why he’s doing so well. Look at anybody that has built something massive. They’re obsessed over it. They don’t talk about their kids and their family. I’m not saying that’s the right way to go but you’ve got to jump in with both feet. You can’t just put your big toe in the water. It’s like jumping into a cold pool. Jump in. That’s good stuff.

Brent, nobody is obsessed more than mothers. If that baby comes out then it’s this whole thing. Our business is like our baby and others’ baby. It’s our goals, dreams and hopes. It’s our path to this freedom that we’re looking for. It’s all of these things wrapped up. If you look at it that way and commit to it, it’s going to be hard. It’s hard being a mom, dad or whatever else. You’re thinking, worried and excited about it all the time. We know that most people don’t have that brain. People want to go home and turn it off, “I’ll show up to work tomorrow. It will be fine.” That’s fine.

For the people that have an entrepreneurial brain and that you’ve always thought differently and had that tickle in your spine, that was like, “I can do something amazing. I can do this myself. I don’t need to rely on somebody else to tell me what to do with my time every single day, Monday through Friday or all week long. I can provide enough value to support my family.” If you get that obsession and stick with it, you can’t lose. That’s what’s incredible.

You got to stick with it. Grace, let’s go back to the radio. What’s radio looking like for 2022? I was looking back at my numbers. One thing we’re doing with my marketing director is every single week some marketing channel is on the chopping block. We’re either going to take that old dog out back and shoot it or find ways to optimize it. We talked about some of the ways we’re optimizing radio. I look back. We’re at 700%. For every $1 we spend, we make $7 back on the radio. I’m curious to see. I know what your number one marketing channel is for 2022. It’s a radio. Tell me if I’m wrong.

It’s almost what Brent said, both Daniels and Bowers. It’s the tenacity of pushing through things. To your point, Brent Bowers, about how I’m looking at this and going, “How do I optimize?” You always want to go back to the drawing table. Don’t ever stop tinkering. That’s where a lot of people go wrong. You think, “I turned this thing on. I’m going to turn my eyes in this direction and never look over here ever again.” That’s wrong. You always want to make sure you’re doing something to track what’s happening. It’s some little maintenance.

Maybe you don’t have it or depending on where you’re at in your business, maybe you do have a team member, an assistant or something. Someone’s eyes need to be on it to go, “That thing doesn’t look right. This is working well. Is there any way that we can maximize this thing or cut down here?” For 2022, it’s tinkering, optimizing and cutting. You get into a swing of things in marketing. Like Brent mentioned, there are some points where you hit a mass capacity with a certain marketing channel. There’s no rhyme and reason. It just may happen that way.

In terms of marketing channels, I prefer to watch our channels on a 90-day basis in terms of what to cut or something might be wrong. I believe that it takes 90 days for conclusive data to build. There are too many things going on, especially if you look at life in general. Here’s inflation and COVID. There are so many things that can affect your variables. I don’t like to be in a position where I’m making a decision on something and looking at it through tinted lenses. I want to make sure that there’s a pattern here like, “I’ve seen this multiple times. It’s starting to truly tick in a direction that I don’t want to go in. Why is that occurring?”

In radio specifically, before cutting a station, I reach out to myself. I’m like, “Tell me. Did I miss something on your data? Did something shift behind your doors that is affecting my variables?” It may not be my marketing channel, acquisition managers or conversations we are not having. It could be something going on as well with the market. I keep my eye on a couple of different things to go, “Indeed, the marketing channel is what’s the problem, not the market, conversations, acquisition manager or executing.”

WI 890 | Effective Marketing Channels

Effective Marketing Channels: There’s a difference between being rich and wealthy. When you’re rich, you know how to get earned income. When you’re wealthy, you turn that earned income into assets, and those assets will work for you.

 

You’re enlisting the rep too, as a partner to help you because it’s in her or his best interest to keep you on board. I love that.

What I heard is that you both have a plan. That’s so important. You have to have a plan when it comes to your marketing. If that plan means cutting, optimizing or adding, you still got to start with that plan. Putting together the plan is the main thing. You are crushing this.

Track the plan. Look at it weekly. You need to have a scoreboard. How many people did you talk to? How many were actual leads? How many did you pre-qualify? How many appointments did you go on? How many contracts did you get signed? How many of those contracts did you sell? How many of those deals did you close? These are easy-to-track items that come in. It’s making sure that you track it. Amateurs willy-nilly, “I’m going to hustle this. I don’t need to track numbers. Numbers are for dorks.”

Numbers are for the professionals and people that want to create businesses. What happens is when you track your numbers, you can predict what will happen. When you can predict what will happen then you can hire amazing talent effectively. That is the real deal. When I got started, I didn’t. I was that bro for a long time that was like, “I’m going to go out, knock on doors, make cold calls, cash checks and snap next.” That was my mentality.

It took some time and a lot of conversations with all of our mentors. Tom Krol and Todd Toback are fantastic. Get serious about the business. When you do, you will see, “Brent was saying if I spend $1,000, I’ll make $7,000.” When you start figuring out those types of things, that’s when you can feel very strongly and confidently that you can have the financial responsibility of the people you hire and their families to come into your company and have a great place for them to succeed.

It feels like an expense when you spend money on marketing until you start tracking it. You can see that it’s not an expense. It’s an investment. If you don’t know if you’re at $3,000 to $1,000, $5,000 to $1,000 or $7,000 to $1,000 then you’re thinking, “I got to shell out another $1,500 or, in some cases, $15,000.” If you see the return, I’m happy to spend money on marketing. Every time, I’m going to get a $5,000 to $1,000 or $7,000 to $1,000. Should we send a little more?

You got to be careful. If you start spending way too much, you realize there’s a diminishing return as well. That’s another reason why you got to track it.

It’s an investment. It’s not an expense. It may be an expense for the first 6 weeks or 90 days but it’s going to come back. You can’t stop. You got to be consistent.

It’s the engine of our business.

You will attract more people interested in supporting your business if you’re humble and authentic.

It’s the lifeblood.

There are only three parts to real estate investing. It’s lead generation, conversion and exit strategy. That’s it. You get leads. You have some skills to be able to convert those leads into signed agreements or commitments. You need to get to decide, “What do I want to do? Do I want to wholesale this, rent this or flip this?” That’s it. Nothing happens. You can’t jump step one and start converting leads that are fictional. They have to be real leads. You need lead generation to build momentum. That is the wind in your sails, for sure.

You look back a few years later, see all the deals you sold and wholesaled and then call David Dodge. He’s on his super big yacht because he’s not buying anything else and hasn’t sold in the last years, “Brent Daniels, I’m new. I started cold calling. I’m making 100 phone calls a day. How do I start tracking all this? I’m too busy calling and talking to people. I need money badly. How do I track this? What’s the best way?”

Every time you talk to somebody, you check a box. Here are the stats for everybody reading. If you personally speak to 200 property owners and ask them if they consider an offer on their property, one of them will say yes. You will do one deal. The issue is 199 people are going to flat out reject you or waste your time. I would rather have them reject me than waste my time. That’s 199 out of 200 conversations, “I’ve never had 200 conversations with people about real estate ever in my life.” Pick up the phone and start. There are ugly properties.

Brent, I’m going to add to that. People who aren’t real estate investors who want to be real estate investors, all they need to do is start doing the activities that real estate investors do, like marketing, making offers, following up and running appointments. These are the things that all of us are doing. If you’re not doing these things and you want to be an investor, I got great news for you. All you got to do is change a couple of little habits in your life and make those habits directed towards marketing, talking to people and getting on the phone. You’re going to get appointments and stumble across people that are going to want to do business with you. It’s just a matter of time.

Track the leading measures like making the phone call. That’s no crazy spreadsheet. It’s a check on the box. Everyone has got a pen and a piece of paper. Don’t overcomplicate things. At the end of the day, you put that little piece of paper or get the fancy book that TTP has. You flip the next page and count them up. I have someone that helps me buy outbounds. She does outbound calls. I kid you not. I can’t tell you how many times she has told me, “I made 100 calls.” We go back and it’s more like 25. It’s not nearly as much as we think it is. That’s solid. That’s talking to 200 people.

That is the actual owner of the company. It’s you, as the business owner, talking to them. If you hire a virtual assistant, phone prospect or somebody, it’s 800 to 1. You are four times better at calling yourself than somebody you hire hourly.

As you build skill, you’re going to multiply that even more. Eight hundred might be small if that person doesn’t have skill.

That’s something to be said. If you talk to 200 people a month, imagine where your skill is going to compound several months from now.

WI 890 | Effective Marketing Channels

Effective Marketing Channels: The longer you’re in this business, the more people start to know who you are and the more they start bringing you deals.

 

I broke it down. You have to talk to seven new people a day to make $120,000 in this business. It’s seven people a day that own distressed property. If you talk to seven new people a day, you can make $120,000. That’s the fact. That’s an average deal size of $15,000. That’s only working 48 weeks out of the year. You don’t make calls for an entire month. It’s eleven months and then only five days a week. It’s 35 people a week for 48 weeks for the $120,000 you should make.

Don’t turn on the podcast or the music. You can knock these seven people a day in the first hour of your working day. The rest is downhill.

That’s it. That’s the incredible thing. The tough part is nobody is there. When people are starting, they’re making calls from their bedroom, kitchen, dining room table or couch. They have never run a business there before. You feel weird. There are weird things going through your head and doubts, “Am I going to be disappointed?” It’s the three D’s. It’s Doubt, Disappointment and Distraction, “Am I going to get distracted by my dogs barking, the laundry going or whatever else?”

There are a lot of different things going on, especially if we’ve got a 9:00 to 5:00 and we start. You have to have a hard look at your schedule and commit to when it’s sacred time. Like you were saying, David, you can talk to seven people in half an hour. There’s no problem. It’s 45 minutes max. You set aside those 30 minutes to 45 minutes to be proactive in your business. You do that for 6 weeks, 8 weeks or whatever it is.

It depends but it doesn’t have to be 6 months or 1 year. It’s seven people. It’s 30 minutes to 1 hour.

Build the rhythm and then find a squad. That’s the whole thing. You got to squad up and be connected with people doing this business. I’ve been doing this a long time and I have a decent reputation in our business for being loud. My family still has no idea what I do. I’m not joking with you. We had my grandma’s 90th birthday right after Thanksgiving 2021.

I’m trying to explain to them wholesaling. To a man, a woman and every single person I talked to, I physically watched their eyes gloss over when I was trying to explain to them what wholesaling was. Nobody in your life is going to understand it. You need to find people who speak the language and understand what you’re going for because it feels tough to be on an island by yourself.

That’s why I’m glad I have you. I’m not on the island.

It’s not hard. There are Facebook groups and people that you can squad up with. We go live all the time on the YouTube channel and connect. There are so many opportunities to connect. You could go to Meetup.com, get the Meetup app and find people. You can meet up with people on the BiggerPockets meetups or whatever it is. Find somebody that has this passion.

Failure is part of the success equation. There’s no way to get to success without having at least little hiccups along the way.

If you’re searching in your area and you can’t find a meetup because you’re in a small town, start one. Bring the people to you. You don’t necessarily have to drive two hours to go to a group. You can create your own.

If you want to go bananas and skip the front of the line, you do what all of us did and join a coaching program. That’s why you do it. You do it for the community so that the learning curve is not three years. It’s a shameless plug right here on the show. I have always had a coach because I know that I can’t be in my house by myself with it being dark, be proactive and super pumped and get this job done. There’s no way. I need community and somebody to bounce it off. I need to know somebody else is doing this and that I’m not crazy.

That’s where the scorecard comes in, like you were showing us, Brent. Having that is the best. You can hold yourself accountable with the scorecard. If you’re not tracking it then all of a sudden, 2 to 3 days and then 2 to 3 weeks go by. You’re not doing real estate investor activities.

Grace, we’ve got to wrap this up. What are some final words for the reader of this first Rhino roundtable? What did you get from it? What are you going to do with your marketing? What’s the first thing that comes to mind?

Honestly, it’s super great listening to it because all of our readers, especially those that are newer, it’s how you do it and get started. If you can get into a circle, group, mentorship, coaching or whatever that is, do so. It is super major in terms of the difference that you’re going to see in your business and you. Being motivated isn’t so easy to get.

The thing about entrepreneurship that a lot of people miss is the motivation piece. You are 100% accountable for everything. If you don’t dive in and get something done, it’s not going to get done. It helps if you can link yourself as part of an actual community. In whatever marketing you’re doing or attempting to do, you want to make sure that you have a plan to be able to track.

Grace, I’m curious. You’re the REI Radio coach and the authority. In these bigger markets where you’re coaching people with radio, what’s the average budget? If somebody’s interested and they’re like, “I want to either go all-in on radio. That’s how I’m going to start my business. I want to add it to the business,” what’s something that people can expect?

You could start on radio even in a major market with about $1,500 to $2,000. You can grow from there. That’s your start. You want to go, “This is something new to me. This is something I want to add to the business.” Start with your first station. As you are seeing that buildup, grow from there.

What is the most that you’ve seen somebody go with their budget on radio?

WI 890 | Effective Marketing Channels

Effective Marketing Channels: Do not keep your business a secret. You should be shouting from the rooftops that you buy houses, and you should be documenting your journey.

 

I had a guy that wanted to spend $6,000 from the top. I’m like, “Okay.” It’s not terrible but I’m in the mindset of, “I want to see what’s best for each student.” You have the $6,000 available but I guarantee you there are miniature little loopholes for you to get the same great deal without you having to blow all $6,000 on radio. He ended up only spending about $3,000 even though he was prepared to do $6,000. I’m like, “I bet you there’s something else on the table where you don’t have to throw out all $6,000 upfront.”

Is there a certain amount of months people should have saved up? It’s like, “You need to do this for at least 3 months, 6 months or 9 months. You need to have these in reserves. You can’t set this thing up for one month, hope it’s going to change your life, take those funds and then use that to pay for some more.” You’re always taking part in the check to stay alive with your radio campaign. Do you have a certain amount that people should set aside before they get started?

In terms of radio, you want to always give it 90 days. There’s conclusive data. There are too many variables going on. Give yourself a real chance to let that build up and build your actual credibility. If you’re jumping into it for the first time, you got to imagine that people don’t know who you are quite yet. Give them a second and then watch that build for 90 days.

Thank you so much for jumping on here, taking time out of your busy lifestyles, businesses and families and doing this. This has been awesome. Thank you for what you do. We will see you next time.

Important Links:

About Brent Daniels

483Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…

Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…

A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

About Brent Bowers

863As an Army Officer with over 8 years of service, Brent Bowers was spending a great deal of time away from his family, and he knew he needed to make some changes in order to be more present with his wife and children. His interest in real estate began in 2007 when he purchased his first home, so Brent began exploring real estate investing as a way to support his family while being able to enjoy more time with them as well.

In a short amount of time, Brent was able to expand his business, hire a team, and (most importantly) spend quality time with his family while still working hard and helping others. While Brent invests in many different types of real estate, his favorite investment strategy deals with buying and selling vacant land, and he enjoys sharing his expertise in this area with his coaching clients. Brent chooses to live his life based on Bob Burg’s quote, “Your influence is determined by how abundantly you place other people’s interests first.” He is passionate about helping other people find success in real estate investing, particularly in land investments.

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