For the next hour, best sell real estate investing author Larry Goins & Co-Host Kandas, will show you the many ways real estate creates the I.D.E.A.L. investment. Whether you want to Flip houses or become a passive investor making double-digit returns while others do all the work. You will learn how here on BRAG Radio.
How Facebook and Other Platforms Help in Marketing and Finding Deals
In today's episode, Larry and Kandas talked about marketing and technology. They also discussed some of the ways you can use Facebook to market properties and find deals. They also talked about using websites and other platforms in marketing, driving traffic, and generating free leads.
About the 3-day training event.
Using Facebook Ads in marketing.
Facebook marketing for those who are just getting started in real estate.
How Facebook Ads work.
Using and sharing Facebook Promoted Post.
Promoting your ads in Facebook groups.
Other helpful automated media platforms.
How your websites can help you in marketing.
Statewide Classified Ads.
Customer Relationship Management Software.
Success story of Meg, an Inner Circle apprentice.
Meg's typical deals.
How she is paying back.
"Facebook is the new Craigslist."
"Facebook is a great way to market your business."
"Putting principle before profit."
BRAG Radio 99 Transcription.docx
It’s time to BRAG, be rich and generous. BRAG Radio is hosted by bestselling real estate investing author, Larry Goings, and co-host,
Kandas. Over the next hour, they’ll show you proven and effective ways you can be successful in real estate. From the WBT Studios in beautiful uptown Charlotte, the flagship station of the BRAG Radio Network, here are your hosts, the rock stars of real estate, Larry and
Kandas: How are you?
Larry: I’m excellent. I’m outstanding. I’m excited. It’s Saturday afternoon and hey, ready to talk about having fun and making money and being generous, most generous. Right, Chad?
Larry: That’s good. I love it. I love it. So Kandas, put that phone down.
Kandas: You gotta hang on a second.
Larry: We’ve got a radio show to do.
Kandas: You know what? Sometimes, it’s hard to get good help. And we gotta fake something.
Larry: You can’t get good help.
Kandas: You can’t even pay them. You can’t even pay for good help half the time.
Larry: You know what, that reminds me, every time I fly, people sitting besides me, they want to talk to me. You know what I mean? And fortunately, I’m usually in first-class because I fly so much, right? I fly—well, let me put it this way. The flight attendants fly almost as much as I do. Right?
Kandas: You make it sound so bad. It’s not bad.
Larry: So I’m sitting on a plane and somebody will say, hey, how you doing? Whatchu do for a livin’? You know. And I’ve just learned, there’s one thing you can tell them that will shut them up. You know what that is?
Larry: The opposite. Cult leader. Whatchu do for a livin’? Cult leader. Really? What’s that like? It’s like everything else. You can’t get good help. As soon as you get somebody trained, they’re off doing something else.
Kandas: I swear.
Larry: That’s just wrong right there, especially since this is a family-oriented type show. But anyway, if you’re just now joining us for the first time today, BRAG Radio is all about being rich and generous. We are educators, mentors—I’ve written many books about real estate investing, getting started in real estate day-trading. HUD homes half off. How to buy HUD houses for pennies on the dollar. We do events all over the country and—I started to say, and all over the nation. But that would be, you know—
Kandas: All over the country?
Larry: So there you have it. We have an event coming up in Charlotte actually, a three-day event, and unlike a lot of places, I actually am the one that’s speaking and teaching for the entire three days, right, Kandas?
Larry: Yes. For the entire three days, right?
Kandas: You do. Yep.
Larry: There you have it. There you have it.
Kandas: It wears you out, all these questions. Questions during the event, questions at lunch, questions in the bathroom. Questions, questions, questions.
Larry: Yeah, that’s a little odd right there. Hey, Larry—just one more question.
Kandas: And hey, Chad, here’s the best part. He even says at the beginning of the event, I know you guys have questions. I know you do. Just don’t ask me in the bathroom.
Chad: You don’t have a VIP bathroom of your own?
Kandas: No. No. He doesn’t—there are a lot of speakers that will like go off and I don’t want to say, hide, but pretty much that’s what they do. They like go to their rooms. They don’t socialize. They don’t interact with people that are at the events. Larry is pretty much—not even pretty much. Until what is it, like 8:30 on Friday night when you are just about to drop dead, you do the cocktail reception with us and everything. He’s always there.
He’s always available during breaks and we do usually meet during lunch so that may be like the only time. That’s just to get a consensus of how the day’s going and what we need to do. But for the rest of the time, I mean, he’s available. And we do a lot—a ton of questions and answers sessions. You don’t even have to wait for a session to get a question in. People usually will just throw their hand up and you do it right then.
Larry: And we call it Stump Larry.
Kandas: Those are the session, yeah.
Larry: Yeah, we call it Stump Larry.
Kandas: Stump Larry.
Larry: Seek and You Stump Larry. Let’s see if you got a question. Come on, give me a good one, right? So anyway, yeah, we’re here to teach you how to invest in real estate. That’s what we do full-time. We have a team full of people in the office. That’s what we do. We buy and sell a lot of properties all over the Carolinas. We’ve actually bought and sold houses in 12 different states right from our office in Lake Wiley, South Carolina. For those of you who aren’t from around here. That always reminds me of Ernest T. Bass. “How do you do, Mrs. Wiley?” Right?
Kandas: Yes. Just like that.
Larry: So, I want to talk a little about marketing and about technology because a lot of people—I mean, I’m an old school kind of person, you know? Whenever you can’t get a deal and you need a real estate deal, just get on the phone. Pick up the phone. Go out and drive for dollars, looking for vacant houses. Knock on doors. Knock on neighbors’ doors and all that stuff. But there’s so many people out there that are using technology now. And we use it, too. We got us some websites.
Kandas: Yeah, a few. We got some websites.
Larry: In fact, at one time, we owned about 300 different domains.
Kandas: Yeah, we had to cut that mess out. You went nuts on just buying any and every domain that you had a dream about there for a while, it seemed.
Larry: I know. We had a ton of domains. So now, we’re probably down to 50ish domains but we did have over 300 at one time. But anyway, we got us some websites, like LarryBuysHouses.com, GabbyBuysHouses.com, InvestorsRehab.com is where we sell our properties. And LarryGoins.com, of course.
But anyway, so there’s a lot of different technology out there and I want to talk about some of the things and some of the ways that people are using right now. One of the things that we started doing recently is using Facebook ads to market for properties and to market for buyers.
And Dan, who is our sales sensei, he’s the sales guru, the marketing guru. He’s the man, the legend, and the myth. He’s awesome. That guy can sell a house now. But I mean, listen, our houses are deep, deep discounts anyway so hey, you know. I shouldn’t say it’s that easy because he is really good. But anyway, we started recently running ads on Facebook marketplace. You know about Facebook marketplace, right? Chad, do you know about Facebook marketplace?
Chad: I see it pop up but I’ve never clicked on it.
Larry: Do you get on the Facebook?
Chad: I do get on the Facebook.
Kandas: They sell everything. It’s like a swap and shop. When did we talk about that, last week?
Larry: Yeah, exactly. I’ve got some rims I want to get on.
Kandas: Three of them.
Larry: It fit a ’74 F-150.
Kandas: We don’t have four, but we got three.
Larry: We got three rims.
Kandas: They make nice flowerpots.
Larry: Exactly. No, that’s the tires.
Kandas: How do you make the tires?
Larry: You cut out the little things and you make a flower where it kind of blooms out, the tire thing?
Kandas: No, the pot.
Larry: Anyway, that’s a whole another story. And you say I have, whatever it is that you can’t focus.
Kandas: ADOS for you.
Larry: Attention Deficit Ooh Shiny. Right? So anyway, let’s talk about Facebook marketing. You can go to the Facebook marketplace, okay? The Facebook app on your phone, it’s the button in the middle at the bottom, right? So, what you can do is there’s a place for like properties for sale and you can post your property to build your buyers list right there.
Even if you’re brand new and you don’t even have a property yet. Now, we’re not doing that because we actually have properties to sell. But even if you’re new and don’t even have a property, you can go in there and you can post an ad for a property and I’m telling you, your Facebook is going to blow up. We actually ran an ad for a property—it was actually a property that we had reduced the price a couple of times and we were having a little trouble selling it.
And we’d reduced the price a couple of times and we said, let’s start with this one and see how it goes, right? Let’s start with this one and see how it goes. So, we started with that property and we posted—Dan posted the ad. Now, this guy can write an ad, okay? He can write an ad.
Kandas: He’s doing a good job, yeah.
Larry: He’s doing a phenomenal job, the marketing guru. Anyway, so he posted the ad and within 24 hours, Kandas, we had 53 responses. 53. Now bear in mind that’s free, right? That’s free. It doesn’t cost anything. I’m telling you guys, Facebook is the new Craigslist. Craigslist, there’s way too many Craigslist crazies out there, right? As I mentioned last week on the show briefly. But Facebook literally is the new Craigslist. It’s crazy.
Now, when we come back, I want to talk about a lot more marketing and ads and different things that we do. How you can get started in real estate. You can find that deal, negotiate that deal, and then turn around and sell that deal using Facebook as well as some other ways, right?
Kandas: Yep. You guys give me a call and we can go through all of that and get you registered for our upcoming three-day event. We’ve only got one more week. Very few seats. 877-Larry-Go. I was giving you the office number. 877-Larry-Go or check out LarryGoinsLive.com. We’ll be right back.
Welcome back. There’s a new cue there, Chad. I’m real on top of this.
Larry: That’s awesome. That’s awesome. I love it.
Kandas: BRAG Radio. This is Kandas.
Larry: And Larry.
Kandas: Investing in real estate to be rich and generous.
Kandas: Paying it forward. We want to turn everybody into
BRAGers. Everybody BRAGin’. We’re going to have some shirts available soon. Did you know that?
Larry: No, I didn’t.
Kandas: Yep, they’re going to say “I BRAG” on the front and then info on the back.
Larry: Info on the back? Why would they say Info on the back?
Kandas: It doesn’t say “info” on the back. With our info on the back. BRAG Radio, the logo.
Larry: Okay, that’s good.
Kandas: Yeah, 877-Larry-Go. All that stuff will be on the back.
Larry: Be rich and generous.
Larry: Call Kandas. Maybe you can talk her out of one of them. Right?
Kandas: I don’t know about that.
Larry: Well, we’ll sell them, right?
Larry: Are we going to sell them?
Kandas: We are.
Larry: How much are they?
Kandas: I don’t know yet. It depends on what I can negotiate with the person making them.
Larry: Listen, you’re a good negotiator.
Kandas: It depends.
Larry: I know you’re a good negotiator. You know why?
Larry: Oh, I thought you would have picked up on that.
Larry: Because I taught you.
Kandas: You just love to hear compliments about yourself, don’t you?
Larry: You weren’t going to give me that, were you? You knew what I was thinking, you just weren’t going to say it. All right, so let’s talk about some marketing for your business, okay?
Kandas: Talk about it. Go ahead and get it on.
Larry: If you’re just—if you’re just getting started with real estate and you want to take your business to the next level, you’ve got to be doing Facebook, right? You’ve got to be doing Facebook.
Kandas: You’ve got to be.
Larry: You’ve got to be doing Facebook marketing.
Larry: Very, very important, okay? We started recently. We’ve done Facebook ads before and you can literally market in a geo-targeted area. Let’s say you have a house, right? Let’s say you have a house in Concord, North Carolina, right? Outside of Charlotte, near Kanapolis, right? So let’s say you have a house in Concord.
Larry: Concord. Is that the way you say that?
Kandas: That’s the way I say it. I say Concord. We had a girl that worked for us, she was from up north and that’s what she called it. Concord.
Larry: Anyway. What was I talking about? Facebook ads. Geo-target. So, let’s say you have a property in Concord, North Carolina. You can literally post an ad—
Larry: And you can, for that property—you can only have it show to people within let’s say five or ten or 15 or 20 mile radius of the actual property. Is that great or what?
Kandas: Shut up.
Chad: Now, when you post that property, do you post it under your name or do you post it under your business’ name?
Kandas: Here’s the beauty in that, Chad—go ahead.
Larry: You can do that through either your personal profile, which everybody who has an individual Facebook for friends and family which is what Facebook was originally designed for—everybody who has that has what’s called a profile. That’s your personal profile.
However, you can also create Facebook pages on the right hand side of Facebook. You click on ‘Help’. It drops down and it’ll say ‘Create a Page’. You can create a page for your business. Right? And then you post to that business and you build followers for that business. You post a property on that page and then you can do what’s called a promoted post, right?
Kandas: And share it back.
Larry: Yeah, you share it on your personal profile. If you have a lot of friends that also are in real estate, you can share it back. But also, you do what’s called a promoted post, right? It’s going to go out to the people who are following you or your page. However, if you do a promoted post, it’ll start having the ads show up to other people that meet the similar profile of your other followers. Does that make sense? Of your geo-targeted ad.
Chad: Do you have to pay for that?
Larry: Well, you have to pay for what’s called a promoted post. But literally, I know guys that rent their rental properties for literally like $5.
Larry: Literally. They’ll spend like $5 bucks in a week or so and they’ll have their property rented. Is that crazy?
Kandas: The geo-targeted thing really helps because you hit that radius. You hit the similar audience. Are you okay?
Larry: Yeah, I’m fine. I’m fine. So, anyway, you do the promoted post. The other thing is there’s Facebook Groups. Okay? Now there’s Facebook groups for employment. Now, if you’re out there and you’re a real estate investor and you’re looking for people to join in your team, this is one of the things that we do. We promote our ads on the Facebook groups.
And there’s Facebook job groups, like the Charlotte Employment, Charlotte Jobs, Charlotte whatever, Work from Home type things. There’s all kinds of Facebook Groups out there on Facebook. Just do a search of it. Go to Facebook and type in whatever your area, wherever you’re from, and then the word ‘jobs’ or the word ‘employment’, right? And then—are you okay over there?
Kandas: Yeah I just wanted to lean back.
Larry: Well, the people can’t see you now.
Kandas: They can see me. I’ll peek around the mic.
Larry: Whazzup? So anyway, so then you can join the groups. And quiet frankly, we’re a member of almost 300 groups in real estate.
Kandas: That’s a lot.
Larry: That’s because we buy houses in multiple states. We have people who are getting our books, getting our education, coming to our events. You know, we’re buying and selling properties all over and recruiting people from all over and that sort of thing. So we’re members of a lot of different groups. Right?
Kandas: That’s right.
Larry: We are. So guys, Facebook is a great, great, great way to be able to market your business.
Kandas: You need to be consistent, though
Larry: You do. You do. Here’s the thing about Facebook ads. Don’t renew your ad every single day, okay? You want to let it sit for at least a couple of days.
Kandas: Gotta let it simmer.
Larry: You gotta let it fester a little bit.
Kandas: I like simmer. That just sounds nasty.
Larry: You gotta let it simmer until it’s about ready to fester, right?
Kandas: That’s nasty. What is wrong with ya’ll? Boys.
Larry: So you gotta let it simmer a little bit.
Kandas: Thank you.
Larry: Okay? You gotta let it set there until it’s almost stale. Like a day or two. You’re gonna get another one in there somewhere.
Kandas: There you go.
Larry: But anyway, and then you can renew the ad. You can also change the prices, you know like on Facebook market. You can lower the prices or whatever. Does that make sense? So you got the Facebook market. You got Facebook groups. You got your own Facebook page and you have from post and then you have promote posts. That’s five different things you can use right there from Facebook. Right? Five different things.
So in addition to Facebook, there’s other automation in technology that we use as well. We use websites. We use a WordPress-based website.
Kandas: We do, yeah.
Larry: And we got a deal not too long ago that just came in organically. What all that means is that we didn’t pay for any advertising. We didn’t promote it. It’s just because our website was out there, right? And it had the best keywords on the website. Then when people are doing a Google search, they were able to find it. And they opted in and we called them and we negotiated the deal and we made about $12,000 on the deal. And it was a free lead. They don’t get any cheaper than that. Free. Who likes free? Free is for me.
Kandas: Chad, he’s throwing mixed signals around. He’s free is for me, his arm is up. Then we got a warning on our time. I’m not sure what’s happening. He got all animated all of a sudden.
Larry: At least we have a producer, right? At least we have one. So, and we have the best one.
Kandas: He has the best radio voice ever.
Larry: I know. So, anyway. We have websites and they’re Wordpress based websites. It’s websites that we have a master account, and we do—actually, we have students who are using the same websites that we do as well. Our students use the exact same one—as well as us. Was that bad?
Kandas: No, you just said it twice is all.
Larry: Oh, all right. But they’re really good. Listen, when we come back, I’m going to talk about how to use those websites and how to market them and how to drive traffic and generate some free leads for your business, whether you’re selling or buying or just getting started or want to scale your business and some other technology as well. Right, Kandas?
Kandas: Sure. I’m ready.
Larry: Let’s let them get a free investment kit, right?
Kandas: Yes, give me a call earlier. 877-Larry-Go for a free investors’ kit, the digital version. I can send it out to your e-mail or if you’re close enough to the office—
Larry: What’s in it?
Kandas: What’s in it? If you’re close enough to the office and want to come out to pick up the physical version, I can take care of that, too, with the office tour. There is a copy of the real estate day-trading book. There is a copy of HUD Homes Half Off. There are some other trainings in there with the different models that we can educate you on. DVDs, CDs, asset protection, all kinds of stuff that’s in there. Give me a call. 877-Larry-Go or text BRAG, B-R-A-G to 803-897-6063.
Welcome back to BRAG Radio, investing real estate to be rich and generous. We’ve been talking about all kinds of stuff on this show, as is typical for us. That’s generally our model. And we got some issues over there. Are you okay?
Larry: My chair is leaning—
Kandas: My chair, Chad. My chair.
Larry: My chair is leaning slaunt-ways.
Kandas: Slaunt-ways. Okay.
Larry: And I was about to fall out of it so apparently it had gotten bent or something, so I’m bending it back.
Kandas: Well, the one in here a couple of weeks ago, the back broke off of on me.
Larry: Don’t they bring in enough money from this show that they could get us a couple of chairs?
Kandas: They should.
Larry: I’m just kidding. We love WBT. Flagship station of the BRAG Radio Network. Live from uptown Charlotte.
Kandas: We’re almost at our 100th episode.
Larry: I know. This is the whath?
Larry: The whath?
Kandas: It’s the 99th. Next week, it will be 100.
Larry: 100th episode.
Kandas: It’s in the bag for BRAG Radio.
Larry: And next week is our three-day event.
Kandas: I know.
Larry: It’s awesome. I’m excited.
Kandas: So good. So good. So good.
Larry: So we’re talking about marketing, new ways to market properties because Craigslist has a lot of Craigslist crazies out there. Okay? Now, don’t get me wrong. You can sell houses on Craigslist. You can find deals on Craigslist. In fact, that’s one of the things that I encourage people to do. We use it like I mentioned earlier and you can, too. So we buy houses on Craigslist. We post ads to buy houses. We buy houses. You know, in fact, we post it with Gabby. Gabby buys houses and we also posted—
Kandas: Look, Lynn’s here.
Larry: Wow, Lynn. Come on in. Come on in.
Kandas: What’s happening? Why are you leaving us?
Larry: Don’t go. All the plants will die.
Kandas: The sun fades when you leave, Lynn.
Larry: All right. So you can post ads on Facebook that you buy properties. Like we post ads all the time. Gabby Buys Properties.
Kandas: Gabby Buys Houses.
Larry: Yeah, Gabby Buys Houses. Larry Buys Houses.
Kandas: Larry Buys Houses and Gabby Buys Properties.
Larry: Anyway, we also are searching for ads that other people have posted that have properties for sale. Right? There are many, many different ways to buy properties. Whether you’re paying cash, using private money, hard money, or you’re getting the seller to finance it for you or whatever. And then you want to use Craigslist. Also, we’ve also sold properties on eBay, believe it or not. Bought properties on eBay and even sold properties on eBay as well.
Kandas: It can be done.
Larry: Absolutely, it can. And our website, with our website, there’s a lot of different ways you can market the website, okay? You can market the website. Time to get a little closer to the mic. So you can market your website, whether it be on Craigslist or eBay or whatever and also anything printed.
Once you have a website, you want to make sure that you put it on everything printed. Because it gives people a website to go to. If they don’t want to call right now, they might go to the website and opt in—our websites, I’m telling you, if you get a 1, 2, 3, or 5% opt-in rate, that’s huge. Our websites typically get a 20-30% opt-in rate.
Kandas: We use them to show people about us. If they—it makes more sense for somebody to be more educated when they talk to us on the phone so you know, just go ahead and tell them, why don’t you check out my website. Via e-mail just send them, why don’t you check out my website, get a feel for what we do and then let’s hop on the phone.
Larry: There you go.
Kandas: It helps save some time.
Larry: That’s good. That’s good. So yeah, with the website, you can market the websites on Craigslist, on eBay, on Facebook. You want to have a page for your business, a Facebook page. That’s a business page. And then have your website there as well with your phone number. It’s always good to have what’s called a vanity number, right?
Kandas: That’s easy to remember.
Larry: 1-800-FLOWERS. Right? Or 855-GABBY-BUYS. Or—
Larry: Oh, yeah. That’s good. That’s really good. We should get that.
Larry: That’s good. Call that number and talk to Kandas in about 20 more minutes. So, yeah. So you want to do that because if you’re starting out, you don’t really have properties to market. So you need properties right away. You gotta get your properties and there’s a lot of different free ways to market them. There’s also some ways that I really like. I like the little Penny Saver newspapers. The community newspapers.
Larry: Why do you got that weird look on your face?
Kandas: It’s the only one I got. I don’t know what you’re talking about.
Larry: I’ve heard that before.
Kandas: It’s the only face I got. What do you mean? How do you mean?
Larry: I like the Penny Savers and you can also run those ads through what’s called Statewide Classifieds. So you can Google whatever state you’re in, like the state and the word “Press Association”. Like “North Carolina Press Association”. Every state has a Press Association. Right? Every state.
Kandas: Every one.
Larry: Every state. And then you can run ads through that Press Association like pay them one fee like maybe $200 or $300 bucks and they’ll put your ad in every single newspaper in the entire state.
Kandas: That’s a lot.
Larry: That is a lot.
Kandas: Charlotte has what, two or three papers alone?
Larry: Yeah, but now most of them are going to be the weeklies, not the dailies, right? Most of them are going to be the weeklies, not the dailies. But I like the weeklies anyways. Those are small community papers and they’re the ones that—I’m tickled—
Kandas: He doesn’t know how to operate the chair.
Larry: So anyway, there’s the small community papers.
Kandas: You’ve got three and a half minutes. Can you hold it together? Can you just pull it together until the segment’s over?
Larry: So, the last thing that I want to talk about, okay, on this show or this episode or this segment of this show before we get a BRAGert on, right? It’s about CRM. Now, how are you going to keep up with your properties?
Kandas: How are you gonna do it?
Larry: How are you gonna do it? How are you gonna keep up with your properties? How are you going to keep up with your buyers? How are you going to keep up with your sellers, with your vendors? All that stuff. And a CRM—
Kandas: Hold on a second. Vendors, we mean attorneys, title companies, appraisers, rehabbers—
Kandas: Yeah, people that you use are who we classify as your vendors on a CRM.
Larry: Right, right, right. So there’s a lot of CRMs out there and CRM just stands for—it’s a fancy word or term for, an acronym for Customer Relationship Management software. Right? So we use one called Podio. And Podio, it’ll do just about anything but the thing about Podio is you can’t just go to Podio.com and sign up and have it all done.
Kandas: No, it’s a shell.
Larry: It’s a shell, right? It is a database shell. It’s like Microsoft, whatever that is.
Kandas: It’s a blank canvas for you.
Larry: It’s blank and you’ve got to set it up and create it and have all the hookups and all that stuff, right?
Larry: So we paid somebody a lot of money to set ours up and that’s the one that our students use, the same one that we use as our students use. And I usually demo that at our events, show them what we do.
Kandas: You do. Always.
Larry: Show them the websites and we talk about marketing and all that stuff. So as you get to where you got so many leads coming in, you can’t keep them on 3x5 cards or a handful of business cards or you know, on Post-It notes.
Kandas: Post-It notes are my favorite.
Larry: You need a CRM. Get you one. So, come to our event. Come by and meet us at the office if you’re local and see us. We’ll give you the office tour. You can see the deals on the board and we’ll talk to you about that. You get to meet the team and you know, or if you want to order the investors’ kit, we’ll get you a free copy of my books, Getting Started in Day-Trading and HUD Homes Half Off, and if you come by, we’ll give you the physical copy. Otherwise, we’ll send you the digital version. And you also get some other audios, DVDs, and stuff like that.
We just want to help you be successful. Our goal is to help you become successful. When you do that, we’re successful. Right, Kandas?
Kandas: That’s right. That’s part of our mission with us being about to BRAG is to pay back. We are—Larry is a wealth of information and knowledge and being able to provide that to other people is part of his whole philosophy—people and principle before profits. Give us a call, 877-Larry-Go. We can get you registered for this three-day event coming up next week. We can talk about the digital investors’ kit versus a tour for a physical kit. I can get out, whichever one works better for you. You can also text B-R-A-G to 803-897-6063 for a digital kit. And we will be right back with a BRAGer.
Welcome back to BRAG Radio. Being rich and generous. We use real estate. You can find your own niche or you can get close to us and let us guide you with our education in real estate to be rich and generous
Larry: There you go. There you have it. This is your favorite segment of the show, right?
Kandas: I love, love, love when we have students that are doing stuff and are able to pay it forward and that’s what’s going on with Meg’s story today. So we’ve got Meg on the line.
Larry: What’s happening?
Meg: Hey, Larry. Hey, Kandas. It’s great to be here today.
Larry: Awesome. I’m really excited you’re on the show because Meg is one of our inner circle apprentice students and she is a rock star. She’s just crushing it. When she came to our office and spent some time there in our office, and she just I mean literally right out of the gate, she started doing more deals right away. And I’m just really proud of you and what you’re doing and you’re just rocking and rolling. So tell our listeners a little bit about who is Meg?
Meg: Okay, well I got started in real estate in 2012. So I missed a lot of the drama but you know, when I got into it, the old-timers told me at that point that I had also missed a lot of the opportunity and they’re like, you’re not going to stay in the business. We can tell already. Which was sort of interesting.
I had had a corporate job and I was—I was actually a scientist involved in pharmaceutical research so I was actually looking for something really quite different from that and was just attracted to the idea of flipping houses. So before I flipped—before I got to the [inaudible][32:06] group inner circle, I flipped three houses and it took me like five years. So maybe they were right. I wasn’t really cut out for it. But I had other things going on, too.
Kandas: They were not right. I just want to tell you they were not right. They were trying to dim your star.
Meg: All of which went really well, but I felt like they all needed so much attention and I was new to the business and I couldn’t leverage other people’s time very effectively.
Larry: Were they fix and flips, by the way?
Larry: Were they fix and flips, by the way?
Larry: Well, there’s your first problem.
Meg: I know. Single-family homes that needed a lot of help. So yeah.
Larry: You know I hate rehabs, right?
Meg: I do know that about you, Larry. I sympathize and I empathize with that and here’s what I want to say. Since being in the program, instead of doing three flips in like five years, I’ve been doing more like three flips a year. So yeah. I really feel the acceleration because of the change in my thinking about how much rehab to do and what kind of rehab to do, and so half the houses I flipped in the last two years, I haven’t done any rehab at all, which I really like.
Larry: That’s great. That is great.
Meg: The other ones, we’ve been able to keep the price tag way down by really just focusing on the absolute essentials of making sure the water runs and the power works and the A-Track can be turned off. And not worrying about the cosmetic improvements. And so what happens was exactly what you told me to expect. I sold one house to a contractor. I sold another house to a painter. I sold another house to a real estate agent. You know, I’m bringing in people who know how to take a house that needs help and help it. And they really loved the idea of being able to do their own finishes and not have to pay me to do it twice. And also, they all really understand that my real product isn’t the house, it’s the mortgage.
So it’s worked out really well for me and I liked it a lot. It’s a kind of flexibility for me and my business, that means I can work in a different part of the market sector that’s less competitive and I can get more done on less effort and I don’t have to put $200,000 or $300,000 into a house in order to make a profit on it. Which I like all those things. So yeah, I would say the training has been awesome for me.
Larry: That’s great. And also, now you’re doing some lending now, some private money lending, hard money lending. You’re doing some of that as well, right?
Meg: Yes. And actually, I also started doing that in like 2012. So that’s one of the reasons why three flips a year is actually great for me because I have another business that I’m still pursuing. And the fun thing has been to try to put the two of them together. So I’m still doing lending but now here’s the new development is that with the new business plan, I actually feel comfortable borrowing the money as well.
Meg: Previously, my flips were so inefficient that if I had been borrowing money, it would have been a catastrophe financially. So, this is much better.
Larry: Good for you. That’s awesome. And I know we’ve chatted—we don’t chat that often anymore but I know we’ve chatted quite a bit about some of your deals and been talking about some of them and walking you through a couple of things or when you’d come up on a challenge or whatever, but I’m just really proud of you and proud of all that you’re doing.
Meg: Thank you so much, Larry. Because that means a lot. And I’m really glad to have gone through the program and I try to help people on the website and I think people appreciate it. And working with these new buyers who they really have felt the impact of having their mortgage become available. People like it.
Kandas: That’s right. They sure do.
Larry: That is great. That is great. Would you be able to run through one of your typical deals for just a minute?
Kandas: Kind of quick though because I want to get to what she’s doing generously, too.
Meg: Yeah, so actually, this isn’t typical, but I mentioned one of the people that I sold a property to is actually a real estate agent. And he couldn’t get a mortgage because he’s technically self-employed. But he also completely understood why I needed to do such a big markup on the property in order for it to work for me and he was totally fine with it. So he was one of the first people to really grasp that what mattered to him was the size of the down payment and the size of the monthly payment, not the size of the mortgage. So that was great.
Well, he was then able to explain to some other people what a great deal he had gotten and how it worked and why it worked that way. So he’s brought me some additional buyers and I’ve got to say, I really like the idea of having a buyer before having a house. Because that’s what I’ve done in my last three deals. The realtor and the client actually went and found the house after I had qualified the buyer for the program. So I like working with this realtor.
Kandas: That’s awesome. That’s great. Tell us a little bit about how you are paying back.
Meg: Well, I am a little shy to talk about this. So two of the houses that I flipped—
Kandas: You should be proud. You should be proud of this.
Meg: They’re out of near Jacksonville, North Carolina and you know, it was the second and third houses that I purchased. So, I sold one of them to a young man who’s a painter. He’s a professional house painter. And he was so thrilled with the program, he asked me if I had another house because his parents wanted to buy one. So it was just awesome.
So his parents are in the contracting business. He’s a contractor and she’s an interior designer. So the son and his wife bought one house and the parents bought the other one. The interesting thing is that this family is from Puerto Rico and so first off, it was interesting trying to do all these real estate transactions in Spanish. So I had to brush up my Spanish and find some different people to help me with translation.
So here’s the cool thing. These guys have been painting and they’ve been fixing up the houses so we’ve been in touch and I talk to them all the time. Obviously, when the hurricanes happened and [inaudible][39:26] with this most recent one, tragically, I got in touch with them and said, don’t you guys still have family in Puerto Rico? And they said yes. And in fact, they’re in trouble and they need some help. So I was able to say to them, listen, you can make smaller monthly payments for a few months while this gets fixed because of course, I want them to take care of their families.
Larry: Meg, that is awesome. Thank you so much for doing that. You are a blessing to them and I’m really proud of you and we really appreciate all that you’re doing.
Chad: Thank you, Larry and Kandas. For more information about what Larry and Kandas discussed on today’s BRAG Radio, leading the world to be rich and generous, go to BRAGRadio.com. You can also call 877-Larry-Go for a free investors’ kit, to schedule a tour of the office, or get more information on upcoming events. That’s 877-527-7946. Tune in again next Saturday as bestselling real estate investing author Larry Goins and co-host Kandas teach you the latest strategies and techniques the pros use to make money in real estate. It’s BRAG Radio, leading the world to be rich and generous on News 1110, 99.3, WBT.