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Useful Technology and Resources in Real Estate Investing

SHOW SUMMARY:

In today's show, Larry and Kandas talked about the different technology and resources that are useful in real estate investing. They grouped them into 4 main categories: finding deals, funding deals, keeping track/organization, and connecting with other investors.

Find out how you can use these technology and resources to make your process more seamless and convenient!

SHOW HIGHLIGHTS:

  • First category: finding deals
  • Types of properties
  • Resources for listed properties
  • Resources for off-market
  • Apps that will help you find who the owner is and will help market to the owner for you
  • Second category: funding deals
  • Hard money lending vs private money lending
  • Peer-to-peer lending sites
  • Crowdfunding
  • Third category: organization/keeping track
  • Different ways to store documents
  • Real estate CRMs
  • Podio-based CRMs
  • Setting up follow-up sequences
  • Apps you can use to hire people online
  • Keeping track of your marketing
  • Fourth category: connecting with other investors
  • Networking with other individuals
  • Having your own Facebook

QUOTES:

  • “One of the biggest way you can use technology in real estate is to have a great CRM.”
  • “It's a suspect until you turn it into a prospect.”
  • "The fortune is in the follow-up.”

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

It’s time to BRAG, Be Rich and Generous. BRAG Radio is cohosted by bestselling real estate investing author Larry Goins and co-host Kandas. For the next hour they will show you proven and effective ways you can be successful in real estate. From the WBT Studios, the flagship station of the Brag Radio Network, here are your hosts, the rock stars of real estate, Larry and Kandas.

Larry: Hello, hello, hello what’s going on Kandas?

Kandas: How are you doing?

Larry: I am doing great it’s great to see you again.

Kandas: You act like it. Every show you act like it’s been forever since we’ve seen each other.

Larry: I know really and it’s probably been like hours or something.

Kandas: Probably.

Larry: It’s crazy. Yes we are married but not to each other, right.

Kandas: We have to explain that all the time too.

Larry: I know. See we used to say Kandas and Larry Goins but see then it sounds like we’re married.

Kandas: Right.

Larry: But Larry Goins and Kandas.

Kandas: Leaves me hanging out there by myself alone.

Larry: Well like Sher or Madonna.

Kandas: And married to Matthew.

Larry: Like Sher or Madonna, so come on.

Chad: Beyoncé.

Kandas: I’m fine with it.

Larry: There you go.

Kandas: I’m fine with it.

Larry: That’s awesome. So this show is all about investing in real estate to be rich and generous, right.

Kandas: That’s right.

Larry: We teach you, we’re coaches, we’re mentors we’re local in Charlotte. But we teach people all over country and around the world. I mean we have students that we have taught real estate in the US, Canada, Australia, New Zealand, Japan, China, Israel, The Philippines, Ireland, Chile and Denmark. All those different countries. But we can help you too. If you’re interested in real estate.

Kandas: Right. That’s our vehicle.

Larry: I started getting started in real estate day trading, right. But if you are interested in real estate, then-

Kandas: There’s a bunch of different ways to get rich, to be rich and things like that. But our vehicle is real estate that’s what we know.

Larry: Correct, good.

Kandas: Yeah.

Larry: There you go, that’s what we do. So having said that, our show today is going to be all about technology, websites, apps that sort of thing.

Kandas: Kind of online stuff.

Larry: Yeah online stuff, ways that you can find deals and stuff like that. And there’s really four different things that we want to show you. Four different-

Kandas: Four main ones yeah.

Larry: Categories if you will.

Kandas: Categories is a good way to classify what’s jotted down here.

Larry: Right. So the first category of apps and technology and website that we want to talk about as far as finding deals is going to be finding deals. I jumped the gun on that one, didn’t I?

Kandas: You can tell.

Larry: That’s funny.

Kandas: That as much as we prepare the show is still not scripted.

Larry: I know, right. It’s not scripted that’s for sure, although we did prepare for it. So anyway so I want to talk about some different apps and websites and technology you can use to find deals. Now there’s basically listed properties, on market properties and off market properties. Now listed properties-now if you’re driving please don’t try to write this down okay.

Kandas: No.

Larry: You could turn your phone recorder on if you wanted to if you’re at a stop light but not if you’re moving.

Kandas: Or you could just send me an email info@bragradio.com later or visit bragradio.com. All of our shows get pushed out to the website.

Larry: That’s right, and they’re also on Facebook as well. You can follow us on facebook.com/larryhgoins. Follow us on Facebook and you’ll see all the previously aired shows there. So let’s talk about apps and websites and whatnot for finding property.

Now there’s two different types, there’s listed property like marketed property on the market whether it be on the MLS or maybe on a site like Craigslist or something. So let’s talk about listed property, okay. Listed property a few of my favorite sites realtor.com. Realtor.com is going to have the most up to date and current data of any of the sites out there for listed property.

Kandas: Is that your first go-to?

Larry: Well that’s your first go-to if you’re buying in a small geographic area. If you’re widening out into a bigger area like the whole state or a couple of counties, I would not use realtor.com. But realtor.com is going to have the most up to date information of any side out there as far as listed property goes.

Kandas: Okay.

Larry: It’s going to have properties that are listed, just regular owners that list their property with an agent. It’s going to also have all the bank owned listings, the REO property that stands for Real Estate Owned, the bank owned properties, the Fanny May properties, the Freddie Mac properties, any of those. Right, a rural development, they’re all going to be listed on the MLS and they’re going to show up at realtor.com.

Kandas: Okay.

Larry: Now the site that I use more than realtor.com especially since we go wide, we cover a wide area we buy all over north and South Carolina, the site that I like much better is a site called zillow.com. I’m sure everybody has heard of Zillow, right. Zillow is probably the most popular site out there for searching for properties.

And with Zillow you can search by state, by county, you can draw a circle on a map, you can zoom in, zoom out. You could search the whole country if you wanted to. You could select the number of bedrooms, the number of baths, the square footage, all that stuff any of that. So I really like Zillow because not only do they have they property data there, but they have a lot of other data as well.

A lot of people will say, “Yeah they even tell you what it’s worth”. What you’re talking about is the Zestimate. What the Zestimate means zilch, right.

Kandas: Yeah don’t go by that.

Larry: Don’t even think about looking at the Zestimate, right. It means absolutely nothing, right. So you only want to look at the sold comps and Zillow will give you that as well, properties that have recently sold and tell you what they have sold and closed for. There are some state by the way however like Texas is one of them that is what we call a non-disclosure state. It’s not public information what a property has sold for.

Kandas: Really?

Larry: You have to subscribe to a service to get that data.

Kandas: Wow.

Larry: Right, so Texas is one of those states.

Kandas: Those states.

Larry: One of those states, right. Anyway so I really like Zillow, not only does it give you the property information. Even if the property has been listed before, sometimes it’ll show you the old listing photos as well. All the photos if there’s 10 or 20 photos it’ll show you that. It will also give you the price history of the property.

I love this section it’s the first section I go to in Zillow when I’m searching for a property. When I get to a property, I scroll down and I look for the price history, rice. The price and tax history, tell you the tax value, all that stuff. It will also tell you if the property was foreclosed on, when it was bought, when it was sold, if it’s been reduced, if it’s back on the market, if it’s off the market.

It’ll show you all that stuff. And that’s great. And now there’s also some off market sites and apps like a lot of people love Facebook. Well Facebook has a whole marketplace and they have a real estate market. So with Facebook you can go and search that. Another great website is ifttt.com. That stands for If This Then That.com.

You could set up alerts, right. Get alerts like if somebody posts an ad on Craigslist and the keyword is handyman special or fixer upper or foreclosure, any of those keywords that you type in, if this then that will send you an email letting you know when that ad was posted. And then you click on it boom, there is your ad right there.

Kandas: Nice.

Larry: So you’ll be the first one to respond when an ad comes online, right. There’s also some other great aps out there, and a lot of people are starting to put real estate on them. Number one is Offer Up.

Kandas: Right, that’s true.

Larry: You see them advertise on TV now, right.

Kandas: I do.

Larry: They’re very popular. A lot of people prefer Offer Up than Craigslist now because let’s face it there’s a lot scams on Craigslist right now, right.

Kandas: There have been yeah.

Larry: As well as Let Go. Let Go is another one that’s really good. And there’s also some apps that you can use to even search for properties but this stuff is in my book right.

Kandas: That right, it sure is. If you give a call, 877-LARRY-GO I can get a copy of Getting Started in Real Estate Day Trading and the HUD Homes Half Off book along with some webinar links to our training courses and things like that out to you. 877-LARRY GO, text the word BRAG to 803-897-6063 and make sure you check out bragradio.com.

[09:12] [Break] [09:28]

Kandas: Welcome back.

Larry: To BRAG Radio. Leading the world to be rich and generous it’s what we do, we teach.

Kandas: It’s what it’s all about.

Larry: We teach people how to invest in real estate and then we encourage you to go out there and brag, right,

Kandas: Brag it up.

Larry: Brag it up. Yeah we’ve done a little bit of bragging lately. What’s this about the blood drive?

Kandas: Last week yeah we had a blood drive at the office and that went well.

Larry: That’s good.

Kandas: Yeah. I’m excited we may do that annually.

Larry: Really?

Kandas: We might.

Chad: How do you feel being a pint down?

Kandas: Well at first I was a little nervous about that. But they have some snacks and things to get you going right away so it was alright.

Larry: I actually screamed when they stuck me.

Kandas: Screamed?

Larry: I screamed.

Kandas: Why would you have screamed?

Larry: I was scared.

Kandas: Why did you scream?

Larry: I was scared.

Kandas: I didn’t know that. We had other people there, what if you scared them? What if there was somebody waiting and didn’t come in because you screamed?

Larry: I made up let me go in by myself. I wouldn’t let anybody else in when I was there.

Kandas: I’m glad it was on the bus instead of like in the office set up somewhere.

Larry: I know, right.

Kandas: You were isolated.

Larry: I would almost scared other people away right.

Kandas: Yeah.

Larry: That’s funny though.

Kandas: Wow I didn’t know that.

Larry: So what we’re talking about today on the show.

Kandas: Of all the times for him not to have recorded himself.

Larry: I know, right. So we’re talking today about technology investors can use, right. And we’ve got four different categories. The first we were talking about finding deals whether it’s on market like Zillow, realtor.com, trulia.com, and there’s also apps out there that you can get like Facebook app for marketplace and Offer Up and Craigslist and Let Go.

And a big one is If This Then That, ifttt.com which is really good to set up alerts for Craigslist as well. Before we start talking about the second category for technology, I want to mention a few apps that I really love, okay. A lot of people say, “I’ve seen this vacant house on the way home.”

“And I just know if I could find out who the owner is, then I could pick this deal up and I could make a lot of money.” I’m getting ready to tell you two different apps that not only will help you find who the owner is but, they will also market to that owner for you, right Kandas?

Kandas: That’s right, they can market for you.

Larry: Exactly and the first one is called Land Glide, L-A-N-D G-L-I-D-E I think I’ve mentioned it before.

Kandas: I have it and I think we definitely have talked about it a few times.

Larry: Oh I live Land Glide.

Kandas: I love it.

Larry: You could even set it up to scout where it follows you wherever you are in your car and it will tell you as the little bull’s eye goes over property addresses as you go by them, it’ll tell you in a split second who owns the property, their address and all that good stuff. So I love Land Glide. So Land Glide is one and the other one is called Deal Machine.

Kandas: Deal Machine is awesome.

Larry: Deal Machine is awesome I love it. Not only will it do the same thing that Land Glide does, okay but let’s say you’re sitting in front of a house. You take a picture of the house, it will tell you who the owner is. It will ask you who if you wanted to send a postcard to the owner to see if they want to sell it.

Kandas: Right then and there.

Larry: Right then and there.

Kandas: Like that.

Larry: Just like that, right. So it will ask you if you want to do that, send a postcard to the owner to see if they want to sell the property. Not only that but it will look up through multiple databases online and see if it can find their phone number for you.

Kandas: Look at that, phone number too.

Larry: It will pull up their phone number and then you could call them right there while you’re sitting in front of the house.

Kandas: Now that’s a little creepy. I wouldn’t really position yourself that way if it looks like it’s occupied. But maybe down the street a little bit.

Larry: Yeah. And it reminds me, you know what really is that gets people feeling creepy about mailing them, there this kind of postcard that you can send out now. I call it a street view.

Kandas: Yeah.

Larry: Google maps has a street view, right.

Kandas: Right.

Larry: So there are direct mail companies out there that can do this for you and I can put you in touch with the right ones to do it. But what they do is whatever the address of the subject property is that you want to make an offer on, it won’t go out to Google maps, look up the property, take a screenshot of the front of their house and put that on the postcard.

Kandas: So they know you’ve been there.

Larry: So people think you’ve literally been stalking them.

Kandas: I know.

Larry: Right, so just be prepared for a few hate calls when you do that, right.

Kandas: Yeah, that would really wear people out.

Larry: But that qualifies as great technology, right.

Kandas: It sure does.

Larry: That’s absolutely right. Now the second part of technology we want to talk about is funding deals, okay. Funding deals, there’s a lot of different ways to fund deals. And a lot of people know about hard money lending. We make our money loans in our office, carolinainvestorloans.com. That’s my wife that actually does that and Kandas works with her doing that as well.

Kandas: I underwrite.

Larry: Yeah Kandas underwrites the loans. So Kandas is the one, if you got turned down, it’s all Kandas’ fault not my wife.

Kandas: Hey you got to get yourself in a better position. I can’t, I got to protect Pamela and the family interest.

Larry: That’s exactly right. So anyway there’s hard money lending and there’s also private money lending. Now private money lending is very similar to hard money lending. However you’re dealing with individuals that just want to loan out their money. Or you find individuals that are tired of getting, their 401K maybe looks like a 101K now, right.

Kandas: Maybe by now.

Larry: They’re tired of the volatility of the stock market, right. So if they’re tired of the volatility of the stock market, they would like to earn, six, seven, eight maybe 10% return on their money, right.

Kandas: Yeah.

Larry: We do that with a select few people, once we get to know people and stuff like that we’ll let them in on some of our deals and give them a decent return. So there’s hard money, there’s private money. And then there’s also I wanted to mention some of the apps and websites for like crowd funding, right.

There’s crowd funding. And there’s sites out there like lendingclub.com. Lendingclub.com what they do is they-I don’t really want to use the word pull but that’s really what they do. They find people who’re willing to lend money, right. And then put that money together and you’re able to borrow that money.

For example let’s say there’s a lot of people out there that want to invest 50 bucks or 100 buck or 500 bucks or whatever and you agree to pay them 8%, 12%, 15%, 10%. So what you can do is that they’re all chipping in a little bit, maybe you need to borrow $20,000 to buy a property, they’re all chipping in a little bit whether it’s hundreds or thousands.

Kandas: Right.

Larry: And then website like Lending Club or some other ones I’m going to mention here in a minute, what they do is they keep track of all that, right. They keep track of who loaned out the money, how much they loaned. And then the site like Lending Club, they will take their little commish right, their little fee, they’ll take that.

And then what they do is once they take their fee, then the rest of the loan is funded. And then they administer collecting the payments from the borrower and then they distribute them accordingly to each and every lender. Right, it’s like pulling a bunch of funds together and it works really good now. Lending Club is one of them, Prosper is another one.

Prosper is are really good one. And there’s also sites that are like micro lending sites. Some of you guys know those sites under names such as Go Fund Me or Kickstarter or websites like that, right. They’re called crowd funding or some people call the first ones I mentioned like Lending Club they’ll call those peer-to-peer lending sites.

And in fact that’s one of the great ways that people can fund their real estate deals. I’ve had students that went on prosper.com or lendingclub.com or Kickstarter and they funded their deals doing just that. In fact in my book, Getting Started in Real Estate Day Trading, this is just a tip of the iceberg for funding your deals. There’s a tremendous amount of every single way to fund and close on a deal and none of it requires your own money and credit, right.

Kandas: That’s right. Not any of your own money, other people’s money which we talked about in a show recently as well. So if you guys get a copy of the Getting Started in Real Estate Day Trading book in the investors’ kit along with HUD Homes Half Off, 877-LARRY-GO, text the word BRAG to 803-897-6063. Make sure you check out bragradio.com.

[18:26] [Break] [18:45]

Larry: Hello, hello, hello welcome back to BRAG Radio, leading the world to be rich and generous. Are you sure you’re in this?

Kandas: I am in this, you know what I was just doing? Checking my Deal Machine.

Larry: Talking for me. Oh checking your Deal Machine?

Kandas: Yeah.

Larry: Good. Good for you.

Kandas: Checking my Deal Machine app.

Larry: So welcome back to BRAG Radio. It’s all about investing in real estate to be rich and generous. And on today’s show-

Kandas: It sounds like we’re under water.

Larry: We’re under water?

Kandas: This one has ice, my little water box.

Larry: That’s funny my water box.

Kandas: My water box has ice in it.

Larry: So on today’s show we are talking about four different types of technology, or four different categories I should say.

Kandas: Categories yeah because we’ve said a bunch of different apps.

Larry: To use technology. The first segment we talked about apps for finding deals. There’s a lot of ways to find deals whether it’s on market or off market. There’s ways to find the owners of property. There’s apps out there that will even you push a button and they’ll send them a postcard to say do you want to sell your house.

All kind of stuff like that. And in the second segment we talked about funding your deals, there’s a lot of different sources for funding deals out there, right, a lot of different websites. We gave out a lot like prosper.com, lendingclub.com, kickstarter.com. There’s just so many of them out there. So the next thing I want to talk about in using technology and this is probably one of the most important things other than the last one.

Kandas: This is my favorite one. Other than the first two.

Larry: Other than the last one.

Kandas: This is my favorite.

Larry: Really?

Kandas: Yeah because as an integrator this is right up my alley.

Larry: Exactly and this is keeping track or organization, right.

Kandas: Yeah baby.

Larry: Now what I mean by that is, let’s say you’re sending out postcards for vacant houses and to generate leads. Well if you’re sending out postcards and those calls come in, if you’re working a fulltime job, right, if you’re working a job, you’ve got to have somebody take those calls or you got to use like a patlive.com.

Kandas: Because you want them answered live.

Larry: You absolutely want them answered live.

Kandas: And if you can get away with it in any way, shape or form you wanted them answered by a live person.

Larry: That’s true. It doesn’t have to be you.

Kandas: That’s right.

Larry: But it does need to be somebody live.

Kandas: Other people’s efforts.

Larry: That’s the one thing we talked about that last week, that’s the one thing that I would not have a virtual assistant in the Philippines or Pakistan or something doing. I want somebody in the US that has a US accent, right. Even if it is a Southern accent.

Kandas: They’re the best. What do you mean, even if it is?

Larry: How y’all doing?

Kandas: They’re the best accent.

Larry: So let’s talk about some different ways. First of all is document storage. If you are getting rehab estimates, if you’re closing on deals and you have had one closing statements, you have offers to purchase contracts all that, you need to have some sort of document storage set up. And we use two different things, right. Number one we use Dropbox is the first one.

Kandas: Right.

Larry: And Dropbox is really good, they have a free version as well. But we also us Google Drive, we are kind of dug in with Google, right.

Kandas: We’re very dug in with Google we’re at their mercy if anything happens. Everything we have is on Google.

Larry: But the cool thing about Google is once you have it set up, you just have to set up your architecture like properties you made offers on, properties that are in your pipeline, properties that close and by the year.

Kandas: And try to do that ahead of time. Instead of going back yeah.

Larry: Yeah because it can be a pain when you’re trying to go back, right. It can be a pain. So yeah document storage, that’s very important. You want to make sure you have some kind of online source and you have it backed up somewhere else, right. You want to have it backed up somewhere as well. So we use Dropbox and we use Google Drive.

Now there are others out there like Microsoft has one. I think it’s SharePoint or something, is that what it’s called? I can’t remember.

Kandas: For Microsoft I think so.

Larry: I can’t remember.

Kandas: Microsoft isn’t really talked about in our office, we don’t care for it.

Larry: Microsoft, sound like a toilet paper to me. Of course I’m a Mac guy, right.

Kandas: You are Mac all the way. Apple is all you.

Larry: Yeah. So anyway one of the biggest ways you can use technology in real estate is to have a great CRM.

Kandas: Yeah.

Larry: Now CRM stands for Customer Relationship Manager. Now there are CRMs out there for real estate investors that are out-of-the-box CRMs. In other words you can just buy them, pay a monthly fee and they already have everything set up.

Kandas: Plug and play.

Larry: Plug and play. However, I’ve never seen a CRM that didn’t need to be tweaked somehow.

Kandas: Exactly.

Larry: Now some of the out-of-the-box systems like Reale Flow is one, R-E-A-L-E-F-L-O-W.com and then there is reiblackbook.com which is very similar to Reale Flow. Then there is Freedomsoft.com it’s also another one. But there’s a lot of out-of-the-box systems like that. But we use a system called Podio, P-O-D-I-O. Now Podio, it’s almost like if you have a database like what is Microsoft database program name?

Kandas: I don’t know?

Larry: One of you guys probably know, I can’t remember. Anyway.

Kandas: I didn’t know Microsoft had a database.

Larry: Access or something like that. Anyway it’s almost like that in the sense that you have to customize it. You can’t use a Podio right out to the box.

Kandas: Definitely not.

Larry: Now you have to have somebody customize it for you, and you could pay anywhere from five to $15,000 have it customized, ask us how we know.

Kandas: Per customization like we’ve done it three times, this is the third time we’re in.

Larry: Yeah well this is the third time we’ve redone our whole systems.

Kandas: Revamped it yeah.

Larry: But you could also buy a system that’s kind of out of the box that’s built on the Podio platform.

Kandas: That’s true yeah.

Larry: Which has all this stuff already built in it’s already set up and customized. You’re going to pay a little bit more per month. But by the time you look at paying 10 or $15,000 you could have used one of these services five to seven years before the break-even point.

Kandas: That’s right.

Larry: So that’s one of the things that is really good about Podio, anybody can create a Podio system. And some of these done-for-you systems there’s reivolution, R-E-I-V-O-L-U-T-I-O-N.com, investorpo I-N-V-E-S-T-O-R-P-O.com, and there’s also investorfuse.com. Those are three that are Podio based. Now Investor Fuse is getting ready to move off the Podio platform. But they’ve been on Podio platform for years as well.

Kandas: And if you guys are driving hopefully you didn’t try to write those down. We’ll have this show just like our other shows posted up on bragradio.com where you can pull the transcription and you can listen to the show again. So don’t try to write this stuff down while you’re driving.

Larry: Exactly. Now having said all this and the names of everything, what are some things you can do with a CRM? Well let me just give you a quick example. When somebody gets one of our postcards, right and they call the number on the postcard, we have it set up so when they call the number goes right to our acquisition manager.

The number gets tagged, there’s contact record that gets put into Podio and then it creates a task for our acquisition manager to set up an appointment with them and to follow up with them even though the answered the phone live. Also the call gets recorded and it goes into the CRM. Now another thing you can do with the CRM, you can set up follow up sequences.

Right, let’s say you get somebody on the phone, they’re not quite ready to sell their house. But they say, “Well I can’t really take that much for it right now but maybe in 30 or 60 days. You can set up sequences where they get an email every two weeks, they get a text message every week or two weeks or month.

Kandas: Just checking on them.

Larry: Yeah exactly.

Kandas: To see if they’re staying to that you’re the squeaky wheel staying in front of them.

Larry: Right. For example like, “Hey we talked about you selling your house a month or so ago or a while back,” you always say a while back, right. “We spoke a while back about your house for sale, just wanted to follow up and see if you still had it. We’ve got some cash we need to invest this month.” So there’s all kinds of follow up sequence.

You can even have pre scheduled voicemails go right to their voicemail box, right. It’s called ringless voicemail and it’ll go right in there and then you keep track of all your deals and stats and closing ratios and all that. All those are great organizing tools for keeping track of your prospects. It turns a suspect into a prospect. And I even talk about all these different kinds of CRMs and go into detail in the book, Getting Started in Real Estate Day Trading.

Kandas: Well you do go into detail in the book and you guys can get that back on 877-LARRY-GO or send a text message to 803-897-6063 just text the word BRAG to that number and get that. You can also check out our live events Larry Goins Live, and that’s three days of content where there’s no better platform for everybody to get their questions answered and things to go into a deep dive with us. 877-LARRY-GO, we can talk about all of it.

[28:20] [Break] [28:39]

Larry: Welcome back to BRAG Radio, leading the world to be rich and most generous. This is all about investining in real estate, whether you want to be an active investor or a passive investor. And how to get up to double digit returns as a passive investor or flipping houses, wholesaling, real estate trading, buying HUD houses for pennies on the dollar.

It’s all stuff that we teach around the country and around the world. And on today’s show we’re talking about technology investors use. We’ve talked about apps for finding deals, for finding off market properties, on market properties, we talked about websites like ifthisthenthat.com.

As well as funding deals, there’s a lot of different ways you can fund a deal, right. You could go online, apps that sort of thing. We gave out a lot of websites which will be in the show notes for those of you listening to the replay at bragradio.com. And we’ve also been talking about organization, right.

Kandas: Keeping track.

Larry: Keeping track of stuff. Remember when the leads come in like a seller lead or a buyer lead, it’s a suspect until you turn it into a prospect. A prospect is someone who is qualified.

Kandas: Right.

Larry: It starts out as a suspect, you want to qualify them, set an appointment talk to them and do follow up. Remember the fortune is in the follow up, right.

Kandas: That’s right.

Larry: You got to have follow up systems and processes and procedures in place. That’s really important and a couple more things I want to mention before we go to the fourth thing is in our four segments of investor technology, I want to mention a couple of other little apps about organizing and keeping track.

When you have somebody put out bandit signs, right, when you have somebody go out and put out I buy houses signs or whatever, you need to keep track. You need to know that they’re actually doing that. And there’s an app out there for it called Simple Crew. And Simple Crew will allow you to add people to your team and then what happens is when they go take a picture of a house-or not a house- of where they put up a sign through the app.

Kandas: Yeah the location of the sign.

Larry: It tells you who put it out and when they put it out and what time they put it out, all that stuff, right. And it geotags it for you.

Kandas: Gives you coordinates.

Larry: That’s exactly right.

Kandas: The only thing it doesn’t do because it’s off the picture, if that sign gets taken off by I don’t know let’s say a thief running around waxo so he could his own signs up, then it doesn’t let you know that the sign’s been taken down because it’s only off the picture. There’s nothing on the sign itself tracking it, it’s just a picture that’s taken from the person putting it out.

Larry: That sounded like a jab toward that thief that’s taking your signs down.

Kandas: I’m just saying that if somebody is doing it I mean you could cut it out, I’m not taking your down.

Larry: That’s funny. A couple of other thing you can do there are apps out there to hire people online to do little short projects and to become virtual assistants for you. Websites like Fiverr, F-I-V-E-R-R.com.

Kandas: And that’s with two R’s you didn’t misspeak.

Larry: That’s right fiverr.com. So with Fiverr you can hire people to do graphics, I’ve had them do book covers for me, I’ve had them organize spreadsheets, create spreadsheets. I’ve had them do all kinds of little projects. And it could be just little simple small projects.

For larger projects, right, like doing research or analyzing deals or building your buyers’ list or helping you with market posting Craigslist ads and all that, you’re going to use a site called Upwork. Upwork.com has people from all over the world and they’ll work anywhere starting from a dollar up to I mean you could hire somebody that’s going to charge you 200 bucks.

But you can hire somebody to post Craigslist ads that say, ‘I buy houses’ or to build your buyers’ list, post ads that say handyman specials, fixer uppers, cheap cash. And you can do all this for two or three dollars an hour. It’s really a good website. The last thing I want to give you about organizing before we move toward the last part, is you got to keep track of your marketing.

You got to know where your leads are coming in from. We use a service called Call Rail, C-A-L-L-R-A-I-L.com and you can set up a number in Call Rail, you can have it forwarded to your cell phone, you can have it forward to multiple cell phones. It can round robin, I could ring two or cell phones at once or landlines at once, and whoever picks it up gets the call.

You can have the calls recorded, you can have them forwarded over to your CRM like we talked about last segment. There are so many things you can do but with Call Rail you have a different number for different marketing, like you have a number for your Craigslist ads, a number for your direct mail and a number for your birddogs, a number for your bandit signs.

So when you have different numbers and they’re very cheap, right, when you have different numbers and you set it up as caller ID on your phone, when somebody calls that number you put that number, Call Rail will let you do that too. It’ll show the number that they dialed not the number that they’re dialing from.

Kandas: Right.

Larry: So you can set that up as a contact record in your phone like Craigslist ad call, right. Craigslist seller lead ad call. And then when your phone rings, and the caller ID shows Craigslist seller Lead ad call, then you know what the person is calling about.

Kandas: That’s right.

Larry: Very important. So the last thing we want to talk about in using technology as an investor is connecting with other investors.

Kandas: It’s very important.

Larry: Even last week’s show, we talked about staying motivated, right.

Kandas: Yeah.

Larry: That was one of the things that we talked about the four obstacles investors face was staying motivated. So by connecting with other investors you’re using technology plus you’re able to stay motivated, right. And I want to give you a few websites that you can do that with. Number one is if there is a local real estate investors group, you need to join.

Whether it’s a meetup, M-E-E-T-U-P.com, meetup.com you can find the local investors group and if it’s that or there’s also some local chapters of National Association of Real Estate Investors, nationalreia.com. You can find a local investors group, okay. Also get on Facebook there’s Facebook groups out there, there’s a ton of them.

There’s one called Wholesaling Houses Fulltime, it’s very active. It has thousands of members, right thousands. You post something on there and you’re going to get a lot of comments a lot of response. And there’s a lot of groups out there that are just like that. Also networking, a great networking site is biggerpockets.com.

It’s a great website, they have a great community with forums and people can ask questions. And other people respond and answer those questions. It’s really a great site to check out. It’s a great to use and stay involved. Also now, it’s real estate specific, biggerpockets.com is real estate specific.

Also Connected Investor is another great website, connectedinvestor.com. Right, they have a community and a network of nothing but real estate investors as well. But in addition to that, you should have your own Facebook group, right.

Kandas: That’s right.

Larry: You should have your own Facebook group. And all these are things that will help keep you motivated, and networking with other investors.

Kandas: Likeminded individuals.

Larry: Likeminded individuals because let me tell you something, when you start out in real estate right, it’s a lonely world out there, right.

Kandas: When you’re just getting started it is and sometimes it can seem overwhelming.

Larry: Especially if you have negative naysayers in your family.

Kandas: Around you all the time.

Larry: And we have friend that are, “What are you doing? You’re going to another real estate seminar? Come on you’re never going to do anything.” We actually have a student that did that one time.

Kandas: Don’t listen to those people.

Larry: We actually had a student one time and sometimes it’s the husband sometimes it’s the wife. But in this case it was the wife that was the negative naysayer. And she was all, “You’ve tried MLM, Network Marketing, you’ve tried this and that you’re never going to do anything, never.” And every time he would go to a meeting he would say that.

Every time he would come to our office, she would say that. And finally he called me up one day he said, “Larry,” and I worked with him helped him through this deal, “Larry I just closed my first deal and I made $8,000.” I said, “Hey Ron, what did your wife say?” he said, “You think I’m going to tell her about that cheque?”

Kandas: See it pays to be positive with the people that are trying real estate.

Larry: That’s exactly right. So all this stuff and more is in the book, Getting Started in Real Estate Day Trading, right.

Kandas: That’s right. So if you guys reach out to me, 877-LARRY-GO or text the word BRAG to 803-897-6063 I can get the investor kit out to your email. Make sure you check out bragradio.com for this show. We gave out a lot of information and all of our past shows as well. If you guys have questions, you can send an email to me info@bragradio.com. We may even host that question on the show get that answered for you right away but host it on our show as well.

Thank you very much Kandas, thank you Larry. And make sure to tune in again next Saturday for BRAG Radio as bestselling real estate investing author Larry Goins and co-host Kandas teach you the latest techniques the pros use to make money in real estate.

If you’d like more information about what Larry and Kandas talked about on today’s show, if you’d like a free investor’s kit or to schedule a tour of the office call 877-LARRY-GO, that’s 877-527-7946. You can also text the word BRAG to 803-897-6063. It’s BRAG Radio, be rich and generous on News Talk 1110993WBT.

[End of Recording] [38:41]