C (10:06)

Businesses. Traveling and Ensuring I get my morning workouts in Staying fresh isn't just a preference, it's a necessity. But let's face it, after back to back meetings, juggling two kids at home, and the hustle and bustle of everyday life, body odor can become an issue. But here's the deal. Mando has revolutionized how I stay fresh. This isn't just another deodorant. It's clinically proven to control odor better than a shower alone with soap. My favorite scent? Bourbon Leather. It's fresh, is subtle and doesn't clash with my clone. And I was surprised by how well the solid stick works. Even after an intense morning workout, Mando Starter Pack is perfect for the new customer. It comes with a solid Stick Deodorant Cream Tube Deodorant, two free products of your choice like a mini body wash or a deodorant wipe, and free shipping as a special offer for listeners and new customers. You get $5 off a starter pack with our exclusive code that equates to over 40% of your starter package. Use code colby@shopmando.com that is S-H-O-P M A N D O.com Please support our show and tell them we sent you Smell Fresher, stay drier and boost your confidence from the head to the toe with Mando. Attention real estate enthusiasts and investors. Are you ready to transform your investment strategies and skyrocket your returns? Join Jason Hartman and his team at Empower Investor Live. This isn't just another conference. It's your gateway to mastering the art of property investment with insights and strategies from the industry's best. Including our host Jason Hartman, keynote speakers include Sharon Lecter, Mike Maloney, Tom Wheelwright, and more. There's no sales pitch, just real, innovative, actionable content and tools. Whether you're a seasoned investor or just starting out, you'll discover secrets to creating lasting wealth through real estate. Know what is coming next, learn market trends, innovative tools, and network with fellow investors. Secure your seat now and be a part of the movement that shapes the future of Real estate Empowered Investor Live is the opportunity to make 2025 the year you break all barriers to success. Visit Empowered Investor live.com today for your ticket to financial freedom. Don't miss out because spaces are filling fast. Go toempowered Investor live.com now. Empowered Investor Live. Invest smarter, grow faster, Transform your future.

B (12:48)

So when it comes down to the idea of a bigger marketing budget, depending upon your specific scenario, who you are, how much experience, how big is your team, you know, whatever, I highly encourage individuals who are doing any type of online marketing not to necessarily spend more money, but to take a service like Lead Detector IO and put it on their website. Now for some of you, you might not have a website. So there's a great website would be rocket sites. Rocket sites, they're affordable, they are very specific to what we do as real estate investors. They're there for you, they have the right message pre built, you don't have to do anything. You put Lead Detector on that rocket site and you have a killer combination. Now let's go back to talking about conversion. The conversion of these leads is typically what people underestimate the value of and some don't. But a lot of people just want to keep spending more, right? They want to get up to 40 or $50,000 a month marketing spend. But if I were to audit their CRM, I would almost guarantee you I'd find leakage in conversion ratio. And this is why I would tell you more is not always better. Because any good sales rep right in our space, they're really converting one out of every 20 leads. At worst, some really good one out of 10. But they can't hold more than I would say 70 to 80 leads at any time. So if you look at your operation and you might be out there listening and watching this, that you are the only part of your operation, you are the operation. You might realize I have too many leads, right? I, I'm not even being efficient in what I'm doing here and I need to focus on conversion. So then you say, well, how am I going to follow up with. I'm going to make up a number here. How am I going to follow up with 500 leads in my CRM knowing that you are the only person working those leads? Well, that's where the cool technologies of today have come in, right? So like Rocketly, CRM has automation within it that nurtures the sequencing of communication with those individuals. Now typically that nurture can come through email, texting or you could physically call. Now we don't do any outbound within rocketly CRM that's, you know, obviously all those laws have hit pretty hard. But if you need some sort of nurture sequence, leveraging AI is the way to go. Again, this is why I'm not totally in belief of more is always needed. If you use AI for the use case and it's there and built in a way that's communicating with the seller to rehash the conversation or bring them back to the table, then you don't need more leads. You need the AI to work so you don't have to. Now this also goes to this idea and myth I want to break of bigger is better with your operation given the state of technology these days. I just, I don't believe that much anymore. And I'm not saying some operations shouldn't be large, but if you want to be making a hundred thousand dollars a month, you don't need more than five people in your business. Five people right? Now again, I'm talking to the transactional real estate investor here. I am not talking to the apartment owner, I'm talking to the transactional real estate investor. If you have one or two acquisition people, you have one or two disposition people and yourself, you should be able to run a full fledged hundred thousand dollar a month transactional business. Between wholesaling and fix and flipping for sure. I would even make the argument if you do it the right way, you could take those acquisition people and turn them, not turn them in, but they part of their job is transactional coordinating. They got to make sure all the paperwork is done right. All the paperwork is submitted to the title companies or closing lawyers. And then I'd also make the disposition people be transaction coordinates as well. Make sure all the job's done right, the earnest money is in, the assignment is in, the loan is done, whatever the case is done for the back end of it. But you wouldn't need more than five to get this done. I have a client, I do from time to time I do one on one consulting, right? I take on one real estate investor, one business and I help them build out their business, right? And I have a guy still to this day in Phoenix. It is just him and is just an executive assistant. That is it to this very day. And he does well into the six figures a month, well into it with two people. And I'll tell you, he does not work very hard. He is choosing to do the bigger better deals. If it makes a small dollar amount, he doesn't care. He's only looking for the big winners, okay? And because of that he doesn't need a lot of people because he doesn't need to do a lot of deals. He doesn't need to brag about, oh, I did, you know, 30 deals this month. He doesn't need to do that. He'd rather do one or two deals a month and make, you know, 50 grand per deal than do 20. And I can't blame him. As someone who's built out an operation myself, having construction management, having operational management, having TC management, having listings in property management. I mean, God, we have investor relationship management. I mean I'm, I have a full fledged business running. And some of you guys wonder why I'm bald. Constant deals, higher profits, a road map to financial freedom. That's exactly what we help entrepreneurs achieve. At Joe Homebuyer we provide the sales, negotiation and marketing training that separates top investors from the rest. But it's more than just education, it's execution. You'll get weekly strategy calls, expert lead masterclass deal reviews and real time business coaching so you can scale with confidence. Plus you'll be surrounded by a community of self driven, winning entrepreneurs who push each other to new heights. And for those of you who take this production to the next level, you'll qualify for our exclusive president's club where you'll be rewarded by luxurious vacations, recognition.

C (19:58)

And high level networking.

B (20:00)

If you're serious about turning your side.

C (20:03)

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B (21:24)

But I would tell you guys, you got to make a decision what you want because just to do the social media flex doesn't make a lot of sense just to be able to Say you have this big business or this office or this amount of people, it's really, no one really cares. You know, I tell a lot of people, people always ask me, when should I hire, when should I start hiring? And my first question, and I want you guys to hear this question. Are you putting 250 grand a year in your pocket? Not in a company, in your pocket. Are you actually doing that level of business? Because that's where I think you need to start. I don't think any of us as entrepreneurs go into entrepreneurship to make less than 250 grand a year. Right? But somewhere along the lines, people want more, they want to get bigger, they want to have employees, they want to do more. But more doesn't mean net profit either. This is why I want to expose this kind of myth or, or people talking about how like grow bigger, you know, and all this other stuff. I have so many points to just basically point out that it's not always the case. And you know, one things, one of the things that people aren't always thinking about is their bottom line. You know, there's, there's definitely been years, especially you know, eight, nine, ten years ago. We made a whole lot of money, top line. We didn't make a whole lot of money, bottom line, right? I mean, it was very cool to talk about the millions we were making all over social media. It wasn't very cool to know that I probably could have made more being a manager at a Starbucks. Right? And so we, we start a business, we start being an entrepreneur so we can buy our time back. Well, the only way you can buy your time back is if you're making money, right? And that's the point. So if you're listening to this and this is maybe triggering you a little bit, then you got to really look at that. Because I talked to an individual just yesterday. He, he actually applied to work with me one on one. And this guy is doing really, really well, but he has a really small functional team, right? He's doing, he's spending 100 grand a month and doing roughly 3 to 400 grand a month, give or take on the month. And that's very high functioning team. Now I'm not suggesting all of you guys go spend 100 grand a month, but what I'm saying to that is he doesn't have Some, you know, 18 person office is very functional, very. The best word I almost want to use is like, they're like snipers, right? Bigger is not better. The shotgun approach in this case isn't better. The rifle is they know what they're looking for. They know the areas, they know the deals, they know the profit margin spreads. And he's transactional and he fix and flips and he wholesales. And so I, I encourage you from this episode to audit what you're really wanting, right? I mean, you guys have heard me say this time and time again, right? The first law of success is you got to decide what you want and then who you need to be to get it. You know that to be the first law. And then you got to commit to that. And I guarantee all of you say, I want an office with a hundred people and I'm making a hundred grand a year. No one's saying that that's not what you want. You want to be rich, you don't want to be working as much. But the interim to get there is you do need to work a lot, right? But then you need to work smarter. So I'm going to take a step back. I'm going to bring this conversation back to leads and conversion. You don't always need more leads, you need to convert more. And you're not even capturing the ones that are going to your website because you're not using a company like Lead Detector IO. And so this is the whole cycle of this, bigger and more, all of it. Like everything I'm saying at this point would tell you in I know this to be true in most cases. I mean, most, it is not better. It is actually worse. You will be worse off. You will make less money because you will hire more people, you will have more cost, you'll have operational bloat, and you won't have the conversion of the leads at the pace you want. And you're not going to make as much money growing and going big. And by the way, this isn't even to mention about, you know, being able.

C (26:04)

To increase profit per deal.

B (26:07)

We haven't even talked about that. Now, this doesn't have anything about being bigger, but if you focused your time, energy and attention not on hiring and training and all that stuff, but actually increasing your margin of dealing, right, Instead of averaging 10 grand average, 25 grand, you don't have to get bigger. You don't need more deals, you're making more money per deal. And that is just creating efficiencies. And so, you know, I want you guys to realize there's a lot of technology, not that that's unknown, but there's a lot of great technology like Lead Detector IO, like Rocket Lease, CRM, like Rocket Skip. There's a lot of AI, you know, and you, you combine that with an opportunity out there to have like AI data which can get you, you know, the most highly motivated sellers out there. You know, REI lead machine is another great resource. They have lists that have AI data working behind it and scrubbing 400 billion data points. 400 billion and like almost half a trillion data points. Finding out who's the most highest likelihood homeowner to sell. You start to combine all this technology and creating efficiencies bigger, just ultimately will always point to not necessarily better in our space. There are a few examples that you can say bigger is better for sure. But my experience has been stay small and you can keep it all. The grant cardones of the world, they weren't inherent, you know, big real estate moguls, but they surrounded themselves with people who are. So my point to those that do want to scale a business. There's difference between growing a business and scaling a business. Most of you should focus on just starting and growing a business. But if you do want to be the next grant cardone or whatever and scale, then you need to make sure you have someone by your side. You need to have experts in the field. Grant is not the financial expert. He is not the real estate expert. He does a very good job surrounding himself with people who are. And he doesn't even have to train those people so he will pay them handsomely. So if you're going to do that, then you have to pay the people handsomely. Again, going back to operational bloat, if you are at that place financially, fine. My argument being is most of you probably aren't okay? And so I'm not trying to be negative. I'm just trying to say be smarter, right? Why don't you just go get rich, like real rich and then you can go buy your own apartments, right? And so I, I want you guys to focus on that first. And it comes down to operational efficiencies. Heavily leveraging technology and AI in today's world. I still believe you guys need to have a human component of the sales. You need to be negotiating, you need to be underwriting. I don't suggest to leave up analysis to technology. I know there are people and companies that are trying to make that work. I don't like it. I do believe you as the owner operator should be operating the business a whole lot longer than you think. I think there's a lot of opera. I know there's a lot of operators out there that just get a little worn out. They're Tired of being a solopreneur and they start hiring out the acquisitions role or they start hiring out the role of dispositions or whatever. Those are the two roles that make you the most money. Specifically in the wholesaling space. Why are you going to use those two roles as the first place to hire? It doesn't make any sense. So you want to really think through some of these. Now I have a great group if you guys are newer. I'm not sure if you guys are newer yet. Reilive Co. My joke is I couldn't afford the M reilive Co and we have calls every day, two, three hours a day, Monday through Friday and Sunday, Saturdays. For the premium side. If you are new and you're trying to figure out how to get a deal, you don't need a coach to sell you on 5, 10, 15, 20, 25, $30,000 of coaching. You need someone who's willing to do the deals with you and get in the trenches with you. That is what REI Live Co is. That is what it is about. Great community of like minded aspiring investors trying to break in and grow a real estate investing business. And I am right there by your side holding your hand, shoulder to shoulder, doing it with you and sharing in the deal. 50 50. So if that's something that you're on the newer side of this and that appeals to you, go check out reilive Co. If this was helpful and you think you know people that need to utilize some of these technologies, some of these services. The things I've mentioned as a, as kind of a rewind or reminder I guess is the best way of saying it. I talked about Lead Detector IO which is a great software that sits on a website and captures non opt in leads. Lead Detector IO Rocket Lee CRM that comes with AI nurture sequences. So if you're bringing in leads, you don't have to be the one responsible for nurturing all the relationships the AI can so your conversion rate can go higher. You have. What else did we talk about? REI Lead Machine. REI Lead Machine. Great list pulling and comping software that you can use to pull data that is the highest likelihood of a homeowner looking or interested in selling. REI Lead Machine has AI data built into it. And what else did we talk about? There's just incredible software out there right now. Rocket Sites. If you don't have a website, go to Rocket Sites. It's already pre built for US investors. Make sure you go to Rocket Sites. And then lastly, if you're a newer, you're struggling. You've been out there, you've been trying. You just need someone to do it with you. And you want to do a 5050 deal split, go to Reilive co. Reilive co. All right y'all if that helps and you think someone needs to hear some of this stuff, make sure you share this with at least two of your friends. We will see you on another episode of the Science of Flipping and make sure all people know about the podcast. Also as a reminder, there is a book I wrote. It has become a best selling book Flipping to Wealth. Flipping to wealth is found on Amazon. It is out there for you guys. Please check it out. It will help greatly. It goes over my entire life story of the last 18 years in building this real estate business. So glad this helped. Share it with two of your friends. We'll see you on the next episode. Peace.