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Virtual Wholesaling with Roman Shersher
In today's show, Larry invited a good friend and a fellow Collective Genius member, Roman Shersher. Roman is a licensed Real estate broker in the State of California. He has been full-time in real estate investing since 2007.
In this episode, Roman talked about the different markets and some of his marketing strategies. He also shared their business process model and a lot more.
- Who Roman Shersher is
- His first property under contract
- The type of analysis he did to identify the right markets
- What he does in Jacksonville
- Shortage of good contractors
- Their marketing strategy
- List that works for him and his team
- The kind of volume they are doing
- His average profit on a deal
- Their business process model
- His acquisition guy and being virtual
- Words of advice for people who are starting out, scaling up, and those who want to venture into other markets
- "You cannot copy everything that you have in your local market and another market."
- "Good contractors are hard to find right now."
- "The key to marketing and the key to a consistent business is consistency in your market."
- "Time is our true enemy and could be in our corner as well if you use it wisely."
- "The hardest list to get are often the best ones to market to."
- "...because you never know when you're gonna hit that person at the right time. It's not just about making the right offer, it's the right timing on their end."
- "If you have to give up a piece of the equity, do it."
- "Don't think that every market is similar."
RESOURCES AND LINKS FROM THIS SHOW:
- Google Ads - PPC
- House Buying Blueprint
- House Buying Blueprint's Email Address: email@example.com
- Roman's Email Address: firstname.lastname@example.org
Larry: Welcome to the Brain-Pick-A-Pro show live from Lake Wiley, South Carolina on the east coast, and all the way over 3000+ miles away in Southern California is my good friend, fellow mastermind member over at CG (Collective Genius)—you guys have heard me talk about that—is Roman Shersher. How are you doing, buddy?
Roman: I’m doing great, Larry. Thank you for having me on.
Larry: Awesome, man. I’m excited about it because, you know, sometimes we see each other at the meetings, sometimes we don’t. You know, there’s like four different groups and I go to the east coast, you probably go to a lot of the west coast stuff, so it will be great to catch up. And I know you got a lot of cool stuff to share with our viewers.
Roman: We also recently went to the Kahuna Cashflow Seminar in Phoenix, Arizona.
Larry: That’s right! That’s right! We were together there. I knew I had seen you somewhere else recently, I couldn’t remember. In fact, I just recorded a podcast with Cory yesterday.
Roman: Cory? Oh, that’s great. Cory is a great guy. Met him many years ago in CG. Also my partner and someone you also reviewed recently, Mike Zlotnik. We were there with him. And our acquisitions director actually lives in Phoenix which is also where Cory is from.
Larry: Awesome, awesome. That’s great, that’s great. So, why don’t you start out and tell our listeners a little bit about yourself.
Roman: Well, my name is Roman Shersher. I’m a licensed real estate broker in the State of California. I have a small boutique brokerage here but it’s mostly in order to enable me to do better, more profitable real estate investment transactions. I have been full-time in real estate investing since 2007. I once bought a program from a couple of people at a real estate investment meeting. One of those programs was by a gentleman named Larry Goins that taught me a lot about how to purchase property.
Roman: Discounts directly from sellers. And my first property on the contract in the summer of 2007. If anyone tells you it’s a hot market, too many people are in the market, there’s no way it’s going to work, there was no hotter time in the market with more competition in the last cycle than in July of 2007 when I put my first property under contract. I had found a buyer off of Craigslist to take it. It was a rehab, it was in horrible condition. You know, a hoarder lived there. It was 4 dumpsters it took to clear this 800-square foot little shack of a house. I ended up selling the contract to a rehabber who was also a licensed inspector so he knew his way around the property and had been there a couple of times when I had let them in. And in my first ever deal, I cleared six figures.
Larry: That’s huge.
Roman: That’s wholesaling it. I never even touched the property. I got a good relationship with the seller. I helped them out with a situation and a problem they had, put them together with a buyer, made six figures on my first transaction and it hooked me. I had never looked back. I knew this was the business for me and we’ve been kind of perfecting that process ever since.
Larry: That’s awesome, man. Why did I never get a testimonial from you?
Roman: I owe you a lot of that. Since then, we’ve expanded. We were in Southern California, only Southern California until about 2014 and then the foreclosures kind of dried out of our market and I noticed that we were getting a lot less acceptances. I had a team in place. We were sending out about 150 to 180 offers every single month. In order to send that quantity, you have to actually analyze 700-800 off the MLS and on average we were getting about 6 to 8 acceptances per month. Our goal was to flip 2 of them, rehab and resell 2 of them, wholesale 2 of them, and then the other 2 to 4 would fall apart for whatever reason and we’d get into the property and repairs or more significant than you expected. Something along those lines. All of a sudden in 2014, I noticed my numbers shrank. Those 6 to 8 acceptances became 2. So, that’s when in that type of a market you start looking to expand into other markets. We did a thorough analysis, a model of 30 different cities throughout the country. We were looking for the ability to buy and hold rentals, the ability to copy our model there which is wholesaling and rehabbing and so we ended up expanding. Two cities in particular caught our attention. I thought I would end up in Texas but until I did this analysis, it showed that the best markets for our purposes were Jacksonville and Orlando, Florida. I have a partner, Mike Zlotnik, who was our former lender as well. Not former. Current. And so we ended up in Jacksonville and we’ve been there since 2015 working, flipping, We own a portfolio of rentals there as well as wholesaling. We have a pretty decent wholesaling operation there as well. We do some business as well in Phoenix.
Larry: That’s awesome, that’s awesome. You mentioned just a second ago about you did a thorough analysis over the country and eventually landed in Jacksonville and Orlando. What type of analysis did you to come up with the markets that you determined were ripe?
Roman: So, we looked at a number of factors. We wanted to make sure that we were going into a market that did not have an inventory shortage which was one of the major reasons why we wanted to expand into another market. So, we look at inventory levels. Like I mentioned, I thought I would be in Texas, in particular the Houston market intrigued me, but what we found was that their inventory shortage was worse than ours. They had lost in a two-year period 35% of their inventory and so the competition was growing in all markets but the inventory had shrunk. So, one thing we wanted to make sure was that they didn’t have inventory shortages. So, we looked at days on market, we looked at supply, months of supply on the market. The other thing we wanted to make sure is that we were buying in a good rental area, so we wanted to make sure there’s a mature industry, not a small town. We wanted to make sure that it was a major metropolitan area in terms of population. Jacksonville has 1.8 million people there with a huge enabled presence and a lot of mature industry. We looked at income levels. We wanted to make sure that the income levels would support the rents that we were looking to charge. The rents there were still modest. Prices were a key factor because we also wanted to make sure that the people with the incomes could afford the homes. In the LA market right now you can’t buy a shack in certain areas for a million bucks And so housing affordability here is extremely low. We also looked at certain rent to purchase price ratios. So, for example, we wanted a 1 percent rental figure per month. Okay? What does that equate? If you have a home then that’s $100,000, that’s our all-in cost on the property, we wanted that to rent for about $1,000 a month. In my local market out here, you buy a million-dollar home and you're getting about $4,000 per month for that home. So, you're only getting a .4 percent rent or we call that an RV ratio (a rent-to value-ratio). Out in Jacksonville, the purchases we made were anywhere from about .8 to 1.2 RV which means that I’m getting twice the return on my money, twice the return on my work as I would get here in Los Angeles. And so there were a few markets that gave us those ratios but they were not as strong economically as Jacksonville was, which is why we went out there. Now obviously we’ve been there since 2015, values have gone up in all markets. Those numbers are as exciting today as they are as they were back then. It’s difficult to get 1% RV in any market like we were in 2015. Those ratios have shrunk a little bit but we're still getting some pretty decent ratios out of that.
Larry: Yeah, especially on the higher priced stuff like the $100,000 house or more, it’s a little tougher to get 1%. But once you start getting down in the lower stuff ($30,000, $40,000, $50,000), you know, you can get $500, $600, $700 a month on those, you know.
Roman: Exactly. Exactly. We bought a lot of properties in the 40’s-50’s, went in there and put 20,000 into it, we’re into it for 70,000 and we're renting them for 850 to 900. So, actually, if you get a comparison to cost, we're getting much more than 1% but we try to estimate those numbers and be conservative. We do it off of value.
Larry: That’s good.
Roman: Like what profit is worth.
Larry: I like that. I like that. So, you got some rentals, you're buying rentals and you're doing some wholesaling in Jacksonville as well, right?
Roman: Correct. So, went into this Jacksonville market expecting to wholesale, rehab, and start building a portfolio out there, and started building a pretty good buyer’s list. We also teamed up with a good realtor, a good broker in that local market to offload the properties that we’ve put under contract. We do a lot of direct mail out there as well as online advertising with Google Pay-Per-Click and Facebook. So, we're doing some decent volume. We’ve picked up a lot of different properties and try to use our systems and processes in place. We’ve had contractor issues down there. So, we ended up making a little bit of money in rehabbing. We also ended up losing quite a bit as well dealing with difficult contractor issues out there. We even hired a project manager and the project manager even had difficulties with contractors out there.
Roman: So, lesson I learned is that you cannot copy everything that you have in your local market in another market without having boots on the ground on a regular basis and also the different cultures are different in different markets. That proved to be a little bit of an issue for us. So, another issue that occurred was that our business right now is very crowded. Every weekend with a lot of investors that are coming out trying to secure their weekends, trying to secure their lives and by doing so in real estate where most millionaires have been built in this country. So, they come out, they just spent a lot of money. They’re eager and willing to get into this market. So, they’re overpaying for property. We're seeing a lot of competition. People are paying for these properties much more than we think that they’re worth. We have no idea how they’re going to make money at these prices that they’re paying.
Larry: And they’re not.
Roman: They’re not. And a lot of them are losing money. And the funny thing is, they lose money. They go into these properties, they overpay for them to lose them and try to use the tips and techniques and the tricks and the education that they just received. They lose money and that they have a bad taste in their mouth. They’ll never do another real estate deal but there’s another seminar coming out with another 1000 people that are jumping right in. Now, so as our investor pool has grown that are making offers on our properties, pool of contractors has not.
Roman: So, we’re finding that the good contractors, they can now charge significantly more which sometimes puts them out of our realm of using them but also the ones that aren’t as good are the ones that you're left with that are affordable and even they’re being stretched in. So, there’s a shortage of contractors out there. I wish there was as many seminars out there with contractors who would get experience coming out as there are real estate investor seminars. So, good contractors are hard to find right now. So, what we’ve decided over the years, you know, we got into a pretty scary situation. We at one point had 16 properties in the market that were not renovated correctly. So, then you have to go back in. We just found the money that we’ve allocated for the rehab budgets for these properties and to find more money to go put into these properties, take them off the market. You're paying carrying costs throughout this whole process, re-renovate those and then again try to offload those. So, it was a little bit of a scary situation. Luckily, we were able to take ourselves out of it. What made the decision was that we’re only going to wholesale in a non-local market going forward.
Larry: That’s probably a really, really good move because it is tough to manage rehabs. I’ve actually wholesaled to houses to people who were trying to do rehabs long distance and some of them had never even done one rehab before, much less one locally. Right?
Roman: That’s mindboggling, right.
Larry: It's tough, it's tough. So, you know, I think that’s a really, really good move. Let’s talk a little bit about marketing because marketing is the lifeblood of any business. Right? Even though you moved into Jacksonville a while back, I know that market has changed just like a lot of markets. I’m in the Carolinas and even I was buying only from HUD and MLS up until the last probably 3 to 6 months ago, right? My deals started dwindling down, so I had to start doing some direct mail and some pay-per-click. You mentioned Google PPC and Facebook. So, tell us a little bit about what you're doing to market for deals in your Jacksonville market.
Roman: Yeah. So, there are a number of channels that we go after. We do a lot of direct mail to this day. We send out probably 20,000 to 30,000 pieces of direct mail per month. We’re also not the only ones that do that. We're finding that a lot of our CG brethren, their marketing budgets have increased and they’re dropping a lot more direct mail as the direct mail response rate has gone down. I remember that in 2007 when I started, I would consistently get between 1 to 2 percent of our direct mail marketing to call in. That number today is less than half a percent because a lot of people that own property are getting consistent postcards and letters in the mail and they have been for many years. The key to marketing, I would say, is consistency. It’s something that I didn’t do well when I first got into this business. The typical trends that you see of a real estate investor is that they realize, “Okay, I want to get deals.” So, what do they do? They start pumping out marketing, right, and then all of a sudden the phone starts ringing and they start putting properties under contract. All of a sudden, you got two deals that you're ready to go in and renovate. So you stop marketing, you stop that whole process, then you go in and you will start renovating the deals. Then you renovated it, you put it on the market and then you realize, “Whoa! I got nothing to do now, I got to go start marketing again.” So, you're constantly going through this up and down, up and down of chasing the next deal. The key to marketing and the key to a consistent business is consistency in your marketing. They say that in order to get a deal, you have to touch that prospect 7+ times to get an effective return ratio on your marketing. That’s typically not what people end up doing. They only send out one mailing to the same list, maybe twice they’ll mail to the same list. You have to hit them over and over. Your brand has to come through. They have to see your name over and over in order to… it builds trust within the seller.
Roman: What am I doing in terms of marketing? We’re trying to hit a number of different avenues. So, online marketing, we work with a company that specializes in it. Another thing I like to do is outsource to the professionals. Know what your genius zone, what your core competency is and work with other people that are professionals in that. I’ve tried to in the past saved money here or saved money there and what I’ve ended up doing is spent a lot more time. Time—the longer I’ve been in this business, time is our true enemy and could be in our corner as well if you use it wisely. So, I’d like to outsource as much of my marketing as I can. I do have an in-house person that gets our lists. That’s something I don’t want to outsource. I want to be able to make sure that our lists are fresh and we use a number of different lists. One of the key lists that’s working for us right now is a code compliance list. Now, the hardest list to get are often the best ones to market to because they’re hard for everyone to get. It's easy to call a title company and get their list but everyone else is doing that as well, and those people on that list are getting 10-15 different competitors’ postcards. If you find a list that you're able to get that is hard to get, there are fewer people mailing to that list. So, one that’s been successful for us recently is a code compliance and a code violation list, so we’re actually going down to the city or contacting the city. There’s something called the Freedom of Information Act that was passed a few years ago and so, these cities are required to provide you this information. So, you call up and find out you want code violations on properties and not only the ones that are active code violations, the ones that have been completed. So, in other words, those homeowners have actually fixed the code violations in those properties that those properties had and those are completed code violations. The reason this is good is this. They’ve just spent a lot of money, this potential headache of a rental of a property that they’re dealing with and so you hit them right after that point and they may be willing to and interested in getting out of that headache situation. Some investors out there have 1 or 2 homes that are not providing any income for them and those code violation properties, they typically have much more issues than just the code violations. So if you go make them a quick offer, take this headache off their hand, it may be a good situation and you can pick up some good properties. We have quite a few properties we’ve picked up that way. Don’t just stick with it.
Larry: Wow. That’s really good. It's not like it’s a huge list either.
Roman: It's a small list, exactly.
Larry: That’s really good. I love that, I love that. Now, do you go to the city or the county code enforcement, or both? Does someone have to physically go down there or can you get them online?
Roman: In Jacksonville, actually we called into the city. We have some boots on the ground in Jacksonville but we called into the city and we were able to get their list. You have to purchase it and basically you're purchasing someone else’s time to mine that data out of their systems.
Larry: Right, okay. That’s really good. I love that idea. That’s a great idea. So, what are some other things that you're doing to market in that area? You've got direct mail, you're pulling your own list, you've got code enforcement. What are some other things that you're doing. You know, I’m sure probably Facebook marketing or something like that.
Roman: Yeah, we do Facebook marketing. So, we also have Google Pay-Per-Click. We work with a company that specializes in that type of advertising. We provide them the information that they need about us and they’re the ones on… Google and Facebook algorithms are changing on a monthly basis. We're not the professionals that are monitoring specifically those changes in algorithms and so we hire professionals that do that for us. We provide them, you know, a certain online budget and they’re doing that for us. We have other direct mail lists that we market to. The same list that a lot of people are marketing to out-of-state owners, renters, non-owner-occupied lists. Those types of lists. Probates. The key is consistency. Most people are going after the same list. You want to just be consistent. You want to hit them over and over and over, make sure that your marketing is hitting them on a regular basis and they’re constantly seeing you. Because you’ll never know when you're going to hit that person at the right time. It’s not just about making the right offer. It’s the right timing on their end. So, you want to solve that problem for them when it becomes a problem for them and unless you're being consistent in your marketing, you may not hit them at the right time.
Larry: That’s so true. That’s so true. So, you're obviously spending some pretty big bucks on marketing and you've got boots on the ground. What kind of volume are you guys doing?
Roman: So, in Jacksonville we’re closing about 4 to 6 wholesales per month. We're doing on average one transaction a quarter out here in LA. It's a lot harder in Los Angeles. A few rehabs that we're currently working on in Phoenix. We still have some legacy properties that we’re working on offloading in Jacksonville. We’ve gotten to the point where we’re scaling up and we’re trying to get from 4 to 6 transactions per month. We're trying to move that needle and get to about 8 to 10 a month.
Larry: That’s awesome. What’s your average profit on a deal?
Roman: Average profit, we’ve seen an increase over time because we’ve done more in terms of training of our staff, training of our sales people, and so we’ve actually seen that go up. As you know, in Jacksonville, the price points are lower. We're picking up properties anywhere from 50,000 to 150,000. So, our average used to be around the 8,000 per wholesale level and now we're running close to 15,000 to 18,000, and that is a direct result of the training that we put into our staff.
Larry: That’s awesome, man. I love that. I love that. Then nothing beats a good closer, right?
Roman: They’re hard to find and employment is at an all-time low. It’s hard to find good people. Yeah, it’s hard and the thing is, is that the hardest thing to find in business that I’ve found is capable and trustworthy people to work with. So, when you do, you fight for them.
Larry: That’s really good. So, tell us what does your process model look like. I mean, you're in Southern California, you know, and in a beautiful area over there and then you've got a team of people or boots on the ground over in Jacksonville. What does that boots on the ground look like and what exactly do they do? I mean, do they sell over the phone or do they run an appointment? Do you have a lead manager? How does all that work when the lead comes in?
Roman: Yeah. So, right now, we’re kind of all over the place. But our process works. What currently happens is we’re sending direct mail into Jacksonville. That direct mail, we have about 14 different phone numbers. I have a whole list of different phone numbers here. These are all of our phone numbers.
Larry: Based on the lead source.
Roman: It's based on lead source and of course based on market, right? Our Los Angeles market has Los Angeles-based area codes. Our Jacksonville market has different Jacksonville area code phone numbers that we’re using. So, we have about 14 different Jacksonville phone numbers and they’re all calling into a call center. We're picking them up directly in-house unless it’s off hours. If it’s off hours, we have a call center that picks up the phone. They’re asking them initial questions that then goes into our CRM, our software, and then our acquisitions managers then call them back within 24 hours. If it’s an online lead, you have to call that back right away. You lose half of your online leads if you call them back after 5 minutes. That’s what I’ve learned. Facebook and Google Marketing. If you don’t speak to that person within 5 minutes, you lose half of them. You’ll never speak to them again. You’ll never have the opportunity.
Larry: I’m writing that down.
Roman: Yeah, yeah, it's important. That’s right. Call back your online leads within 5 minutes; otherwise, you’ll lose half of them. If you don’t speak to them within 24 hours, you’ll lose 90 percent of them. So, we take those calls in-house or a call center takes that. Then, it gets routed to our acquisitions manager and then they call the prospect, see if it’s a valid prospect and if we need to put boots on the ground. If we try to lock up these contracts over the phone and then send someone in, we give ourselves because we’re not local, we try to get a 21-day inspection period which is long. It’s a big inspection period but we're doing it successfully. Then we’ll send someone in to verify on the ground, the condition of the property and then at that point we start sending it out to our buyers, those ones that we already have the contract locked up.
Larry: That’s good. So, your guy doesn’t go out there initially. He gets it tied up over the phone, right?
Roman: Correct, correct. But after our last CG meeting and telling our CG brethren, they recommend that we also hire someone on the ground to try to close those people in-house in their homes, and so we’re going to test that model as well within the next few months.
Larry: Yeah. Our model is we set an appointment with everybody that will set and then we go out and see everybody that let us in the house. Right? That’s our model. Now, I might waste my guy’s time a little bit but you never know. You get out there, they might have another property, you might see something else, be able to make the deal work. So, that’s our model, is if they’ll set the appointment, we are booking the appointment. That’s what I have. Yeah.
Roman: Right. It makes sense and we’ve done this effectively this way for three years now and even here in Los Angeles market, Southern California is so spread out that you could literally make an appointment with someone in your same city and it will take you two hours to get there. Not to mention our traffic.
Roman: We’ve done it successfully where we’ve been able to lock up these properties over the phone and we got a pretty good system on doing that, a decent script and our acquisitions guys have gotten really good at putting these properties under contract, but we want to test being in their homes as well and see if it’s more effective and how much more effective. You know, we’re told that it’s going to be more effective, I look forward to that but I want to see how much more effective it is and compare to the cost involved with actually being on the ground and being in their homes.
Larry: That’s good, that’s good. So, basically you don’t really even have to have the way you're doing it now, your acquisitions guy doesn’t have to be in Jacksonville. He can be over the phone in Phoenix or Southern California or anywhere.
Roman: That’s exactly right. Right now our acquisitions guy, we have one person answering phones here in my local market in Los Angeles. My acquisitions director or closer closes them in Phoenix, and our properties are in Jacksonville, Phoenix, and in Los Angeles. Even the ones in Phoenix, he’s not even going out to see them in his local market. Now, if it’s a certain opportunity, of course we’re going to try to send someone out there. But you don’t even have to have staff. The people that are actually going into our properties in Jacksonville are our real estate agents that are helping to offload our properties. So, they’re going out there and the relationship there is they’re the agents that are going to sell the properties that we put under contract and so they go at it from that perspective that they’re going to verify that the buyer which is us is purchasing a property that is in fact represented in what they’ve told us and the research that we’ve done.
Larry: Well it sounds like most of yours are going on the MLS.
Roman: If we put a property under contract directly from the seller, we typically first give it to our buyers list and our VIP buyers, if you would, and give them first right of refusal. We’ll give them 24 hours to say yay or nay. If not, then the way our contracts are set up, it gives us the right. The seller has to give you the right to market the property. It gives us the right to market the property to the buyers we know and the buyers that we may find, and that which includes the MLS. We specify that on the actual documentation.
Larry: That’s really good.
Roman: If you don’t have the contract language that allows you to do that, then you're putting the broker that’s listing the property on the market, you're putting him in jeopardy.
Larry: Right, right. That’s really good. I’m assuming you guys use something like DocuSign or something to have your seller sign everything.
Roman: So, it depends. We try to use DocuSign but some of our sellers don’t even have computers and so you literally then have to drive someone out. Funny story. I just recently read one of our CG brethren, he posted in our forum how do you get a signature from someone that does not have a fax.
Larry: I saw that. Yeah.
Roman: That don’t have a computer. So, someone recommended an Uber driver come out there with a contract to sign in and bring it back. I thought that was incredibly smart. I’m looking into Uber now.
Larry: I thought they wouldn’t respond but luckily a couple of people had responded with the correct answer. You have a signing service, a notary service go out and do it.
Roman: Yeah, that would absolutely work as well.
Larry: Yeah, they know exactly what they’re doing. They know how to do stuff like that. That’s really good.
Larry: That’s awesome, man. So, what kind of words of wisdom, words of advice do you have for somebody that may just be getting started or maybe they’re looking at doing, you know, scaling up, going to the next level and, you know, or maybe even they’re in this market and then such a hot market because I have so many people that tell me “My market is so hot right now. I need to find another place to buy properties,” and you have done it. You right here right now, what kind of words of wisdom would you give to somebody that is here and it's a hot market but they want to start buying over there?
Roman: So, I spent a lot of time in the Jacksonville market. I was flying there monthly, sometimes multiple times a month. If you're looking to add a complementary market, the key to doing that is to find someone trustworthy and capable in that market to work with. If you have to give up a piece of the equity, do it. It's worth it. It will manage a lot of the headache that you have on the ground because once you're there, stuff comes up all the time and unless you have someone there that you trust that has skin in the game with you, it is hard to really manage the process in the market like that. Also, don’t think that every market is similar. That’s what we thought and we found a big difference in the culture of the people, their perceptions of value are different than what we have here in Southern California. It's not going to work out exactly the way you want. Make sure you have someone out there that can help you weather the storms of the ups and downs that are natural in this business. In terms of starting up, you know, I touched on this earlier, is the consistency in your marketing. If you found a good list, even if it’s a bad list, keep mailing to it. Touch it at least 8 times. Mail to it 4 months or 8 months, once a month, once every two weeks, and measure the effectiveness of that marketing campaign. Make sure that you're not just mailing to a list one time. It’s a mistake I made when I got into this business and I realized over time after speaking to marketing specialists, people, all they do are direct mail houses for people in our business. The key is consistency in marketing.
Larry: That’s awesome, man. Very good words of wisdom from the man, the legend, and the myth himself.
Roman: I’m also putting together a program right now which I think is key especially when starting out and when buying properties. There are techniques to buying properties and unfortunately not too many people are buying correctly. What saved me in the losses that I encountered in Jacksonville, what saved me in the properties that were marginal here in California that I had put under contract throughout the last 10 years is that I bought them correctly, and like they say, in real estate you don’t make money when you sell the property. You make money on the buy-in if you buy correctly. So, right now we’re coming out with a program called House Buying Blueprint. Website is going to be Housebuyingblueprint.com that teaches both first time homebuyers and people that are looking to purchase a property for themselves as well as really good buying techniques on how to beat out the competition for real estate investors out there. I’m putting together a program on that and we're hoping to help people out there that are looking to purchase.
Larry: That’s awesome, man. That is great and that is very well needed. It's something that’s needed in the market. Right?
Roman: We think so. We’ve talked to a lot of agents. We're getting tips and techniques from different agents in the marketplace as to what they’re doing in such a hot market. I mean, buyers out there are literally going up against 10 to 20 offers in my market. So, there’s tips and techniques that we’ve used to beat out that competition: inspection periods reduction, different clauses that you can put in your contracts that make it more advantageous for a seller to work with you, working with the seller’s preferred agent. Little tips and little tricks. Because it’s not just the price that you offer that will get you that property; oftentimes it’s the terms. I’ve gotten properties and my offers accepted on properties that I was lower in price than the other offers there. But my terms were significantly better and the sellers went with me and sold me their properties.
Larry: Wow. That’s awesome. That’s awesome, man. I really appreciate that. It's been some really, really, really good information. A lot of good content. If somebody wanted to reach out to you, should they go to that website you mentioned or is there any other contact info you’d like to give out?
Roman: They can go to Housebuyingblueprint.com. We have contact forms there. We also have an email, email@example.com. That comes in to my assistant. If you want to work with me directly or call me directly, email me directly, it’s the best form of reaching me. It's Roman@housebuyingblueprint.com and you’ll get right through to me.
Larry: Awesome, man. That sounds good. I really appreciate you taking the time. I know when we’re recording this it’s a little early out there for you still but I appreciate you taking the time so early in the morning.
Roman: I appreciate you having me on, that you're one of the first people that I ever listened to that gave me inspiration to do this business and it’s an honor and quite an achievement to be doing a podcast with you. I still have your program on my bookshelf right there.
Larry: I love it, man. I love it. That is awesome. Well, I really, really appreciate your kind words. It’s very, very nice and I’m so happy and thrilled for your success, and you're a mover and a shaker now. That’s awesome, man. I really, I really appreciate it.