EP 2 – Getting Seller Contracts Is Only Half The Battle
Oct 21, 2021
In this episode of the Collecting Keys Real Estate Investing Podcast, we discuss tips and tactics that will help you manage contractors and become a successful real estate investor. We address a few signs you need to start outsourcing as well as the power of taking risks and being a responsive buyer. Tune in to learn how to keep contractors engaged and productive, how unemployment and high wages are impacting our business, and tips for growing and scaling as a full-time real estate investor. Plus, we highlight the power of having a CRM system, getting clear on your investing niche and goals, and whether or not you should incentivize and penalize your contractors.
Key Points From This Episode:
- Signs you need to start delegating and hiring help. [02:18]
- “Everybody’s a buyer until it’s time to buy.” If you want to get into real estate, be serious about it, be responsive, and take risks. [03:26]
- Expanding our reach to new markets: How is it different? [06:47]
- If you want to make money in real estate, listen to THESE expert tips! [07:36]
- Dan speaks on the state of his renovations & How to keep contractors engaged. [12:03]
- The importance of vetting your contractors & Mistakes we’ve made with contractors. [14:33]
- How unemployment and high wages are impacting our business. [17:54]
- Should I incentivize and penalize my contractors? [20:39]
- The importance of building systems within your real estate investing business & How to grow and scale as a full-time investor. [26:10]
- Lessons learned from this week: The power of cutting deals loose, renegotiating, and knowing everything isn’t a deal for you. [29:55]
- Lesson learned from this week: Don’t discount any leads that come in, despite how crazy they sound. [31:35]
Tweetables:
“Want to know the best way for me to never send you a deal? Never respond to me!” – Michael DeHaan [0:04:25]
“Having a CRM in place… that’s literally the difference between getting deals and not getting deals, for 99% of people.” — Michael DeHaan [0:11:48]
“For us… incentives to finish early would probably be the way to go. Incentives to finish on time is not the way to go.” — Dan Austin [0:22:22]
Resources Mentioned:
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