Welcome to 52 Meetups in 52 Weeks BLOG

Hello and welcome to 52 Meetups in 52 Weeks BLOG where every week I share lessons I’ve learned from attending another Meetup event or connecting with another Meetup Group Organizer.

I’ve been organizing and attending meetups for exactly 10 years now and have always been fascinated by how this social platform works and how many doors it can open.

I first was introduced to the idea by my French tutor and friend who had his Meetup Group back then and I helped him organize a few of his biggest and best attended events as I was a restaurant & bar manager back then and events were my specialty.

We had some fun parties with up to a 100 people of folks who wanted to practice their French speaking skills in a fun happy hour environment.

Fast forward in 2012 I attended my very 1st Marketing Class where the trainer taught us amazing “tricks” you can do with Meetup Groups: basically find our interest and industry oriented groups and go attend events and grow your network. I came to Real Estate Industry from Hospitality industry and knew absolutely noone in the industry. So this tip was a goldmine for me and being an A student at heart I took this task seriously.

In 2012 alone I’ve attended on average couple events per week and my network grew exponentially (nearly a 100 events in 1 year). Not only locally but nationally as well because it was the days of large symposiums and numerous real estate classes for me. Today I hear many friends saying “Olga just knows everyone” and it is funny to me because it’s all thanks to the events I made it to and conversations I’ve participated in.

Today I smile when I tell this story but it wasn’t funny to me just 6 years ago when I was so broke that I would take out another credit card to just go to another symposium across the county and attend another class. I didn’t tell anyone about this crazy decisions I’ve made because I didn’t know anyone who would say it was a smart thing to do. I knew that too, but wanted to go so badly and believed it will pay off so I went. And every time I made this “wrong” decision to go deeper in debt, life gave me a new amazing connection – someone that made a huge difference in my life. And some events brought a few great new relationships to my life that would then become clear why I had to be there.

Also in 2012 I started to Organize my first Meetups – Cashflow Games. I fell in love with Cashflow Games at the Rich Dad Education symposiums I’ve attended and wanted to host my own games locally. I even brought Rich Dad Mentors who hosted that game for the company to do it here for our meetup group members. Great time 🙂

Today we still host Meetups where we play Cashflow 101 Board Game but it has not been “just a game” for a long time for myself and my friend and co-organizer. We both have built quite a few deep relationships from those events. And I’ll share Broderick’s story and experience in the upcoming posts, but he has managed to monetize some of those relationships and find clients and partners.

Then life happened and I moved back to Russia for 2 years and got a little disconnected from my Meetup community because I couldn’t attend live events but continued to do virtual events and conference calls for some times. It was amazing – to be able to speak to people across the world and even find my first marketing consulting clients there.

Last year my old Cashflow Meetup partner and I decided to re-join our forces again as he kept hosting the games while I was gone and I got on their organizer’s team again. We have amazing plans for 2018 and looking forward to new connections and new relationships!

One of the plans this year is to grow our community by learning from other Meetup Organizers and sharing our experiences. So I invite you on my 52 Meetups in 52 Weeks journey where I will speak about at least 52 different meetup groups and what they do and how they do it in the next 12 month.  

Why? The goal – is to build an amazing community of like minded Meetup Groups Organizers who are dedicated to their members and want to improve their events quality, grow engagement, provide more value and create more win-win solutions.

My team and I are also launching a Private Facebook Group that we expect to grow to at least 20,000 members in the next 6 month! So if you are a Meetup Group Organizer or want to start your group, come join us there. There will be a lot of awesome conversations: we’ll share our experiences on

  • What works and what doesn’t in organizing a Meetup Event – to charge or not to charge for memberships and events,  how often to host and how to keep the costs low to zero
  • What tools and strategies can be used to improve attendance and grow the group.
  • How to monetize and create win-win solutions
  • How to capture the best moments and share it with the world to spread the word and attract new members, create engagement and build strong community
  • These topics and much more cool great stuff is coming on this blog and in our Facebook Group and I cannot wait to see what it will grow into!

Cheers to a successful 2018 where dreams come true, friendships and relationships grow deeper and our desires match our expectations!

Why most Realtors don’t work with Real Estate Investors and how to solve this

Why most Realtors don’t work with RE Investors and how to solve this

How often do we hear real estate investors say “I’m looking for an investor friendly Realtor”? Most times it comes from newbies who just came out of their real estate classes and were told to build their Power Team. An investor-friendly agent is a great theory, but you start digging deeper, you realize that:

  • Most Realtors don’t want to work with Investors
  • Those that agree to work with you don’t know what you need, and you end up spinning your wheels trying to teach them everything you learned from your classes. It is especially hard when you do not have real-life investing experience
  • Realtors do not want to do what you ask them to do

Why do we run into all these issues? I have asked a few industry professionals from both teams: agents and investors and identified four main reasons why Realtors do not want to work with investors.

 1. LOW-BALL OFFERS

Most Realtors believe if you’re not making competitive offers, you are wasting their time which they don’t get paid for. While you must remember, Realtors don’t get paid until after the deal closes, you should consider, that they probably don’t realize that we aren’t just low-balling (I hope you aren’t), we are looking for the sellers that need our money because of some distress. And we have our expenses that were calculated before coming up with that number.

SOLUTION: You must educate your Realtor on why you are offering what you are offering. Give them your formula for calculating MAO (maximum allowable offer) for each deal and make sure these numbers are pretty conservative.
EVA LEAK MEDILEK, BAY AREA INVESTOR:  I have to educate my agents on every deal. I finally shared, in great detail, the formula I use for my MAO (Maximum Allowable Offer)…  Stay true to your word and try not to be such a pain in the ass when asking them for things. Socialize with them. Take them to lunch. Tell them your criteria… Work it out and be honorable.

LORNE CATALANO, LANCASTER NY INVESTOR:  I HATE it when agents understate how cheap rehab work can be done or say you don’t need to paint or do carpeting. Trashy properties attract trashy tenants/buyers…


RUBEN PEREZ, PHOENIX AZ INVESTOR: Lowballing houses on the MLS has never been my thing. I think you can burn through realtors’ real fast that way. Better to understand your market and know where you can buy and how much you can pay.

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

 2. TOO MUCH WORK FOR FREE!

Many Investors believe it’s OK to ask for all the COMPs, different data, see multiple properties and have Realtor work for them for free basically and then cut them out of the commission’s

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

SOLUTION: Value your Realtors’ time as you want others to appreciate yours. Know what kind of data you need upfront, and let your agent know your list, so they don’t feel like you are abusing them. Only see properties that you are sure about. And finally, make sure you let your agent make money any way he can: e.g. by listing your rehabs or referring sellers and buyers to them.

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

RUBEN PEREZ, PHOENIX AZ INVESTOR: As real estate entrepreneurs, we are always marketers, so I always refer homeowners to our agents who have a house that is simply a listing. We can’t get every house under contract, but the lead shouldn’t be thrown away. It’s a great lead for an agent who may be willing to list the house for a smaller commission since they did not even have to market for that house. It’s pretty much a free lead for them and a free listing. We don’t ask for anything in return…

Why most Realtors don’t work with RE Investors and how to solve this

 3. IMPINGING ON MLS ACCESS

This is a HUGE issue! And you absolutely must understand never to start your conversation with a Realtor you want on your team from “Can you give me your MLS Access”! It is a no-no and will get you black-listed in that Realtor’s contact book. Some gurus teach that, but they fail to clarify that it’s only OK if you have established relationships with the agent and he knows you are trustworthy and can perform.

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

Before considering asking for MLS access, get familiar with what it took a Realtor to get the license and what it costs them to have that access and maintain their license. Here is an article that’ll give you an idea about Agent’s Expenses Most People Don’t Know About.

Also, even if you get access, doesn’t mean you will be able to use it. There were times when we taught our EXPERIENCED agents to pull the data they didn’t even know was available on MLS.

SOLUTIONS: First, learn to use information from other reputable sources. And second, develop relationships with an experienced and knowledgeable Agent to get a good advice and all the information you need. Also, make sure the professional you are choosing to work with understands how to get you all the information you need while you are winning their trust. And perhaps eventually you will have the opportunity to get the restricted access to their MLS.

TONY GUISTO, CHICAGO IL INVESTOR/ RE BROKER: I’d suggest that Investors get a license. That way you don’t have to worry if the offer you submitted is getting sent in a timely fashion or if the realtor decides to try and go after it on his own. And also, if an investor states to the realtor that they will list on the back end and hold up our word.

 4. “I KNOW IT ALL” ATTITUDE

Many investors have this problem coming out of their Holiday Inn weekend courses and thinking since they just paid a big buck for some information, that information is 100% correct, works in all states is legal, ethical and moral. And way too many gurus temp to bad mouth Realtors, saying they don’t know what they are doing. So Investors taking classes from those people automatically take on their attitude. Not to mention “You will know more than most Realtors out there after my class” – I have actually been a student of gurus who say that! And while there are a lot of unprofessional Realtors, there are also those who don’t just love what they do but also know their business very well. They are knowledgeable about their market, they have great connections with other industry professionals you would need, they understand data and of course, there are those that are investors themselves and these are your best bet.

SOLUTION: Be teachable, but choose your Realtor wisely. Just because they go to your REIA, it doesn’t mean they’ll know what you need! Here is why You Shouldn’t Blindly Take Advice from a Realtor you met at your local REIA.

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

Another great solution is to find an agent who is also an investor, like the rehabber Lorne Catalano did:

4 Reasons Why most Realtors don’t work with RE Investors and how to solve this

To sum this up, I will say that the problem occurs in the core principle of communication, which is honesty. Mutual understanding and collaboration is something that has to be present. And of course if you want a great Realtor on your team, you must be great yourself:

  • Be  upfront
  • Be  honest
  • Be  teachable
  • Know  your  numbers
  • Perform
  • Be  grateful

To finish, here are some great recommendations from my good friend and fellow real estate investor Tony Guisto, real estate investor and licenced real estate broker in Illinois with Village Realty Shoppe:

Tips for investors to work with a realtor:

If you are going to be working with a realtor, a few tips that I’d suggest is to be upfront and document everything with them. This way everyone knows what is expected and can be referred to if questions arise later. Plus someone that you are interviewing to work with you as your realtor can see what it is you expect and decide if they would want to work with you. Not every Realtor will be the right fit for every person. Some also work for a while until they don’t. Never just hire someone because they are a realtor, interview them and see if you are compatible it is similar to dating someone, plus you might not be compatible with them. If I am asked to sign an exclusive buyers’ agreement, I insist that the realtor signs an exclusive agreement only to work with me. Don’t be forced or feel that it is necessary to sign an exclusive agreement, in my experience that is a realtor who is either not comfortable or just somebody who will do bare minimum work and expect that they get paid. Do most of the tedious legwork to make it easier on the realtor, for example: write out contracts to be submitted, view houses on Google earth and try to get a feel for area/house before going out to see property. So, if it has something that you don’t like, you don’t waste realtors’ time looking at a non-deal.

Tips for Realtors working with investors:

Make sure expectations are clearly defined. Set boundaries: any e-mail after 8 in the evening will be answered by 8 in the morning. Be flexible: if a client wants to see house try to show him or get someone from the office to assist if conflict. Don’t assume because you have a license that you know more than someone else. Speak openly and be honest if you see issues before purchase not after when it is time to relist. Be open to suggestions on different ways to market a property. Offer up different ideas instead of only dropping the price to get a house sold.

This is a partnership and when working together, it can develop into a beautiful relationship where everyone makes money and is happy. However when one piece is not functioning properly, the entire movement will start to be inoperable and fail. Be open and honest with each other, so you do not let issues build up and completely destroy the relationship. If the relationship is not working and you need to make a change, let the person know quickly and why they are being relieved. It is not fun but will be the best interest of all parties in the long run.

Do you have anything to add? If you are an agent, who has an experience working with Investors (good or bad) feel free to share with us in the comments below.

If you are an Investor and have something to say, I’d love to hear from you!

8 free tools to communicate with your virtual team

8 Free Tools to communicate with your virtual team

Modern business pretty much requires having virtual teams, be that long distance partners, assistants or contractors. Many real estate investors seek out opportunities to do business while they are living their lives to the fullest, traveling the world or simply working on projects away from home. And it doesn’t matter how smart the people are on your team, we will still have to explain certain things, share our thoughts and feedback and be able to train them if needed.

In this article I’ll share with you 8 free and easy to use tools you can utilize in communicating with your virtual team.

SCREEN-SHARING

Do you need to discuss something with your team member that requires going over a document together? If you cannot meet in person, these are the tools to use:

SKYPE
  1. Simply connect with your contact
  2. On the top menu find “Call”
  3. In the drop down menu select “Share Screens…“

Os simply click the “+” at the bottom

8 free tools to communicate with your virtual team

 

This will give you an opportunity to show your computer screen while being on a live call. From then you can do anything you want on your computer and your team member will be able to see exactly what you see on your screen.

GOOGLE HANGOUTS

Works very similar to Skype

  1. Login to your account at https://hangouts.google.com
  2. Start a Video Call
  3. Invite your contact to the call
  4. Begin screenshare by clicking on the green computer button on the left hand side

8 free tools to communicate with your virtual team

Choose option that works best for you!

DOCUMENTS (FILES) SHARING

GOOGLE DRIVE

My favorite and super easy to use.

  1. Login to drive.google.com
  2. Click on big red button on the left that’s called “NEW”
  3. Create a new folder and name it the way it makes sense. Start organizing your files from the beginning! Don’t let them pile up before you realize you have to clean up your Drive and it will take an hour or so to do.
  4. In that folder create your Google Doc or Google Sheet. They are identical to your Word documents and Excel spreadsheets.
  5. Share with your team member by clicking “Share” in the right top corner and selecting the option that works best for you. Do you want them to be able to just view the document or be able to make comments, or perhaps you want them to be able to contribute? Then select “Can Edit”

***Be careful with your sharing options. You might not want them to be visible to everyone on the web, pay attention to the options you are choosing!

8 free tools to communicate with your virtual team

Here is also a very helpful VIDEO that goes into 6 features that make Google Drive awesome.

DROPBOX

Is best for sharing your larger files. You may get a free account by signing up HERE. At Outsource Hub we love to share audio books with our team members and peers. This tool is an excellent helper in this case.

It is also great for backing up all your computer files.

Free account does have a limited space but you can increase it by inviting people to use Dropbox from your affiliate link. Or if you have $5 to invest into a larger space, here is a cool gig on Fiverr that will allow you to upgrade your Dropbox storage up to 50GB!

This VIDEO goes into Everything you need to know about Dropbox.

VIDEO TUTORIALS

JING

Free screencasting tool that you can use to record up to 5 minute long videos explaining how to do a task to your virtual assistant or partner. The downsides of this free tool is that you cannot download these videos and have to keep them stored in your online techsmith account. However it works just fine if you are not going to upload your videos to YouTube and do not need to add them to your Website

Jing also allows you to take screen shots just like the ones you see in this article minus editing (arrows and comments)

To get an account go HERE.

SNAGIT

It also allows you to take screenshots and record videos, which you can download, or upload directly to Google Drive, YouTube or Dropbox.
The tool allows you to add callouts, stamps, blurs and more…

Is not free, you do have to pay for it, but it’s a one-time payment and there is a free trial. I love it and been using it for over 2 years now. Get Snagit Click Here

PROJECT MANAGEMENT

TRELLO

Is a collaboration tool that organizes your projects into boards. In one glance, Trello tells you what’s being worked on, who’s working on what, and where something is in a process. Any project your team has can be managed in this great free tool that allows you to communicate with specific team members by tagging them, add files, images, checklists and more. Get it now and begin organizing your projects!

8 free tools to communicate with your virtual team

BASECAMP

Is also a project management tool that I love using. It has both free and paid versions so it’s up to you which one to choose. It’s super easy to use because it’s very intuitive: create a project, assign To Dos to team members and mark tasks complete. Boom!

Basecamp Classic is absolutely free, but it only allows you to manage one project. However it’s perfect for one organization with a few team members. You can still give them tasks and watch the progress.

Basecamp 3 has a free trial and is excellent for those business owners with multiple clients. Create your projects, invite clients and team members and communicate within the projects. Easy peezy.I used to think I'd never find my true love... and then I met TECHNOLOGY | Olga Fomenko @outsource_HUB

Sign up for Basecamp HERE.

What tools do you use for communicating with your team virtually? I’d be happy to hear about other exciting tools that make your life easier and impossible things possible. Please leave your comments below and feel free to share this article with your peers who you think would benefit from these tips. 

Need help with your Virtual Team? See if Outsource Hub could be a right solutions for you!

Apply for an Outsourcing Strategy Session

 

4 Free Tools for Content Sharing Automation

4 Free Tools for Content Sharing Automation

If you are a true leader you probably read and learn a lot. If you are like me, you have your Hour of Power sessions when you read and research.  Many times you come across great content that you’d like to share with your audience. The challenge is that if you share all your interesting articles at once the chances are that your audience won’t see it, because in this digital age our social news feeds get updated every second and unless your followers come specifically to your page to see what kind of cool stuff you got for them today, it is probably going to get lost in their newsfeed. So your goal to make sure you share your content on the best days of the week and on the best times of the day. Can you possibly accomplish that? Probably not unless you are a social media manager who stays online for hours and manages accounts live.

The following 4 tools help me share OPC (other people’s content) throughout the day and week while I’m busy with other work. This is not just a list of automation tools but instead these 4 tools make a complete content sharing automation machine if used together. So pay attention and don’t miss any steps!

I. FEEDLY

  1. Start with signing up for Feedly and add content by choosing the blogs, publications or topics you like to read about.

4 Free tools for content sharing automation | Outsource Hub - Feedly

Some great Blogs for real estate investors to follow are:

Of course there are more great blogs, so if you have some suggestions please feel free to share them in the comments section below.

  1. Now get Google Chrome extension for Feedly so you can easily use it with your browser.
  2. If you have a smartphone, you can also get an app for Feedly. It will allow you to read articles from your favorite sources straight from your phone or iPad.

II. POCKET

Now let’s talk about Pocket. That’s the app that will allow you to store articles that sparked your interest but you do not have time to read them right that moment. Just like Feedly, I have Pocket app on my iPhone and an extension for my Google Chrome browser.

4 Free tools for content sharing automation | Outsource Hub - Pocket extension

What else is cool about the Pocket that you don’t even have to always read the articles you have saved! You can listen to them! Yep, you read that right! Driving and got some time to catch up on the saved to Pocket articles? Go to your phone app, plug your headset, pick the article and listen to it. Voila!

4 Free tools for content sharing automation | Outsource Hub - Pocket

Pocket also allows you to easily add the articles you read to you Buffer queue. And there are a couple ways to do that, but we’ll cover it the next section when we talk about the Buffer App. which brings us to part 3.

III. BUFFER

Get setup with Buffer app same way as the previous two tools: sign up for a free account, Get Chrome extension and download the phone app.

Free account allows you to connect up to 4 social media accounts. So let’s say you choose Facebook Business Page, Twitter, LinkedIn Profile and LinkedIn Business Page. You can always upgrade for an Awesome plan for just $10/month (or $102/ year) when you are ready to connect more accounts!

Once your accounts are connected, set up the schedules for each account. This can be changed later on as you will be monitoring your interactions, which Buffer will help you with. Try their Optimal Timing Tool, which will suggest you the best time for your posts. You can always learn more about how to use this tool from their Blog and email Newsletter, which I suggest stay tuned for.

IV.  IFTTT

Now let’s add one more ingredient in this content sharing automation mix. Go to IFTTT.com and get an account. This tool is too awesome to cover everything it can do it this one post, so I suggest you go watch this Video Tutorial (24 min) at your leisure, but for now, I want you to go ahead and connect your Buffer, Pocket, Twitter accounts to it.

Now let’s create some recipes. There are virtually thousands of amazing recipes you can set up using IFTTT that will help you to automate your business or personal life. I suggest to do a little research into existing recipes and see if you find any cool ones that might be helpful. In the meantime there are 3 you can start with right away that will allow you add a little automation in your content sharing strategy:

  1. Add your favourite Pocket articles to the Buffer queue to be shared in the scheduled time. What this recipe will allow you to do is automatically add articled you market as “favourite” in your Pocket to Buffer.
  2. If you are a twitter user, you might scroll through your newsfeed a few times a week or maybe each day, there could be some interesting articles you’d like to read later. How to store them to come back to them later? This recipe will allow you to save your liked (favourited) tweets in your Pocket
  3. Just like with Twitter, there are times when you see an interesting article on Facebook but do not have an opportunity to read it right the way. This recipe allows you to save to Pocket if you share the desired posts to “Only Me”.

4 Free tools for content sharing automation | Outsource Hub - Facebook & Pocket

This completes my content sharing strategy. All these tools are super easy to use but I still suggest to read their blogs and learn the tips these brands have to offer about the usage of their products. Please share your thoughts in the comments section below. Did you find this strategy useful? Did yo face any challenges? Do you have anything you would like to share from your personal experience? Looking forward to seeing your comments below!4 free tools for content sharing automation - bit.ly/automationtools

Outsource Hub is currently running a limited offer on using our own Marketing Assistants that we have already trained and have been working with for years, it’s limited because our VAs only have that much of a free time left in their day and we can only offer this service to people who are truly ready, and not just think that they need to market online.

LEARN MORE

 

REI Software comparison

In this article we decided to compare 3 different platforms that we used personally for the real estate business marketing automation: Freedomsoft, REI Blackbook and AllClients, because these questions come up a lot around real estate investors’ forums:

  • What REI software to use for marketing automation?
  • How much should I spend on a software?
  • Is it worth paying for the software I got in my package (if they went to some classes and bought a pre-packaged deal)?

These are all very valuable questions and every person who is using one or another software will have his/her own opinion. Some will say it sucks only because they couldn’t figure it out and others will say the same because they used it and it really was not so good for multiple reasons, while others will be totally happy about the product they use.

It’s really hard to get an unbiased opinion because we are all different, our needs are different and especially our level of comprehension is so different too. So we did our best to help you with this hard decision and created this comparison table, that will help you decide for yourself, what will best work for your business at the current stage.

Please remember that features may change with time and please feel free to share your own experience with any of these products in the comments below.

Features
Description
FreedomSoft
All Clients
REIBB
Licensing Fee N N $997
Monthly cost $97

$24/39

Can vary depending on features

$97
Multi user free extra $15/MO N
CRM N Y Y
Deals Tracker N Y Y
Landing Pages unlimited unlimited unlimited
Autoresponders N Y Y
Email Blast/Broadcasts Y Y

Integrates w/Google

Y
Calendar and TO DO list N Y Y
Property Marketing & Syndication Engine N N Y
Single Property Sites Unique website URLs for each property you want to market Y N Y
Websites 3 (limited customization options) N/A 3 (wider range of customization options)
Bird Dog Engine N N Y
Deal & Profit Analyzer Y N Y
COMPs Y N Y
Offer Calculator Y Y Y
Money Portal Connect with Private & Hard Money Lenders directly on your deals N N Y
Resources: Document library N N Y
Network Community Y (limited – only for posting/viewing other members’ deals) N Y (full range of networking possibilities)
Live support Email Support Email Support Free One-on-one calls
Cash Buyer List Find list of recent cash buyers Y N N
Phone Management System Dedicated Phone Number/Line with 24/7 Recorded Messages and Tracking N $20/MO + PAY PER USE No Monthly fee! PAY PER USE only

There are virtually hundreds and maybe even thousands of other platforms you will hear about, AWeber, MailChimp, Constant Contact, Zoho CRM, Podio the list goes on… Any of them can be used for your real estate business if you are not looking for industry specific features and just want a CRM with ability to send autoresponders for example. Great website to check out for reviews of each of them is Software Advice. They had 336 platforms under CRM platforms last time I checked. Zoho and Podio are actually a lot more complex and you can build your own features, but if you are not an automation ninja, stick with the things that are already done for you. With these guys you will need some developer skills and a very clear picture of what you want to make out of them.

I really hope this article will help to clear out the air for you. If you have questions or comments, please put them below and our team will do our best to address them!

I went to a class and I want to be a real estate investor

Many of us have started to think about becoming an investor because we read a book like Rich Dad Poor Dad or went to a class on real estate investing. At least I did. Actually my mom gave me Kim Kiyosaki’s Rich Woman back in 2009 that she got from an Amway meeting. She brought me a bunch of books, but the network marketing idea wasn’t for me so I didn’t touch those books for at least a year until a regular spring cleaning. Kim’s book sparked my interest and I loved the fact that there were rich women out there who do not depend on their men and know how to make money while not going to a job they hate.

Needless to say I hated my job. Well I didn’t use to because I was lying to myself that I wanted a career in my field. I spent all my adult life in the restaurant industry going from a hostess to a GM of a nice restaurant on Capitol Hill owned by a Star Chef. I loved my progress and I studied hard to be a good resta, learning leadership skills, learning to cook the traditional French cuisine in the prestigious (and expensive) Art Institute of Washington, going to TV shows with my Chef and thinking I want to be like him when I grow up. Little did I know that I would get burned out by bossing people around and pleasing customers and the boss. I started to long for a quiet day without incidents, so that every employee shows up to work, every plate goes out the way it supposed to, every customer leaves happy and the boss stays pleased with the shift. That just never was the case. It was super stressful, aggravating, tense and upsetting, although I was listening to positive audio books and working on my personal development day in and day out.

After reading Rich Dad Poor Dad, I found a free real estate investing class coming to my area and the rest is history. Read more...

But one day I got lucky, I didn’t think that way at first and cried for a couple days feeling betrayed and mistreated, but my impulsive and irrational boss decided to fire me out of nowhere when I just showed up for one of my shifts. Of course now I see it as the best thing that ever happened to me because I don’t think I’d ever have the guts to leave although I was so unhappy and tired. It was just a piece of a puzzle that fall into a perfect place and made a big picture of my life to start to come together.

I was waiting for my wounds to heal while looking for a new job. That’s when I got my spring cleaning going and came across the books I mentioned above. If I still had my management job, I’d never have a chance to read them. Long story short here I was swallowing one page after another. Next thing I know I was shopping for Rich Dad Poor Dad on Amazon and making plans for investing. After Rich Dad Poor Dad, I found a free real estate investing class coming to my area and the rest is history.

People often complain how much money they spent on their education and that it was scam, because they haven’t learned anything and weren’t able to make their money back using the knowledge from classes. I always feel sorry for those people because for me it was the best thing ever. Although I did spend all my savings to buy an expensive Rich Dad package, I never turned back! Did I become a millionaire like my first 3 day trainer who drove a Bentley and wore a Rolex? No (or should I say not yet). But I certainly changed my life and started to invest – my money, my time, myself – all I can into my future, financial and spiritual. It has never been easy but as they say, it was worth it. Every failure and every success! Every bad partner and every new like minded friend! Every experience, every phone call and every FSBO lead!

Do you want to be a real estate investor, or you just say you do? It’s up to you and there is no shame in either answer. Just follow the steps in this article and decide for yourself! Forget other people, we are all unique and we have unique life situations. Good luck!Now back to our topic. I wanted to talk about it because all of you going into investing must understand, that in order to succeed it this venture you have to start with the end in mind. To travel to China, you gotta first figure out where you are departing from, if you are going from the US, a train is not an option; however if you are traveling from Russia, you may choose to take a train, a plane or even a car. You know what I mean? Figure out where you want to go, then where you are starting and then choose your transportation! Not in any other order.

People say “I want to be a real estate investor so I will wholesale a house”. Hmmm really? I don’t think so! First of all you must understand that there are so many things that can be considered as investing:

  • Rehabbing properties
  • Wholesaling/Assigning contracts
  • Landlording
  • Lending money and so on…

Do you want to take on a new career and build a business or you want nothing to do with showing houses and speaking with sellers? What are your strengths, talents and experience? Be honest with yourself, don’t get hung up by people telling you “Just do a deal”! Oh if I only closed one assignment deal after each time I heard that in my first year!

My suggestion, follow these steps and listen to your heart (not other people) when you do that:

  1. Figure out what you love doing and whether or not you need a new career
  2. Decide where you want to be financially, how much money would make you financially free. Be realistic and don’t go straight for “millionaire” because it could also mean many things, e.g. in DC or LA many home owners are millionaires just because they own one home, so be careful with what you wish for.
  3. Consider where you start: how much time you can realistically spend, how much money you can invest on recurring marketing efforts, how much help you will get. Note: not how much help you would like to get from your spouse, children, neighbor or a realtor friend you know… Who will commit to help you and what will they put into this venture?
  4. Identify your budget. No, it’s not the same as #3 where you just through a number in! Look into your finances, figure out how much you can commit spending each month. Is it $3000 or $300? It’s very important because it will bring you to the next step
  5. Identify what marketing strategies you can commit to for your budget. Commit for at least 6 months! Here is the tricky part, 100 yellow letters each month will not bring as good of a result as 1,000 letters. But even 1,000 letters must be sent right, and you need to follow up with your lists. So here calculate very carefully how much it will cost you to buy a list, material for the letters, pay for the help of people who will handwrite your envelopes, or if you THINK you will do it yourself, again, be honest! Are you willing to spend a full 8 hour day weekly to prepare a campaign of 300 letters? Because that’s how long it will take to handwrite these letters. Ask me how I know…
  6. Look into your local REIA offers and see if you can get on some sort of an apprenticeship program where you will work as a team member and get a small cut of a deal. Or see if any guru in your area might take you on. Be careful and don’t fall in the trap of overnight success for $15K! Again, ask me how I know. The best advice and help I ever got were FREE from people I became friends with. So use your charm, be likable and remember your Network is equal to your Net worth!
  7. Never give up! This is probably the most important step on this list.

Be ready to make mistakes and deal with many failures. Be ready to waste money on marketing that doesn’t work and even be ready for bad partnerships.

Not all people from your 3-day class will really DO it, most of them are just talk… And many of them will simply give up and say these education was spam and they want their money back. Some of them will try but won’t handle the failure. And only a few will push forward and get to their first deal! What’s the true percentage of people who become full time wholesalers or rehabbers no one knows, but it’s tiny. Those people spend a lot of money on marketing and a lot of time on follow up, they build teams and systems, they learn from failure and keep working on their personal development. Because…

 Business is a tough game that spits out the weak ones very quickly!

Do you want to take on a new career and build a business or you want nothing to do with showing houses and speaking with sellers? What are your strengths, talents and experience? Be honest with yourself, don’t get hung up by people telling you “Just do a deal”! Read more in this article...

Do you want to be a real estate investor, or you just say you do? It’s up to you and there is no shame in either answer. Just follow the steps above and decide for yourself! Forget other people, we are all unique and we have unique life situations. Good luck!

 

Don’t Amplify Your Weaknesses

Don’t amplify your Weaknesses – but you must understand them (then delegate them)

Do you know what your strengths are? Equally, or perhaps more importantly, do you know what your weaknesses are? It’s hard for most people to acknowledge their weaknesses publicly, and even harder to acknowledge them to themselves. This, however, is critical for success. Even if you don’t want to publicly state your weaknesses for fear of losing face or credibility, you do considerable damage by deluding yourself.

Don't Amplify Your Weaknesses | Outsource Hub

Those brave few who do acknowledge their own weaknesses often make the mistake of trying to work on their weaknesses — which works in some instances, but in others it backfires and creates an even bigger hindrance to your overall success. If you follow my blog posts, you’ll notice a common theme and that is that I’m a firm believer that everyone is unique – so some of you are capable of powering through your own weaknesses and making them strengths, while others will never overcome them (or at least waste considerable time trying to do so). Don’t get me wrong, it is extremely admirable to try to turn a weakness into a strength, especially when that weakness is critical to your business’ success (for example, sales calls and negotiations). And you should never give up on working on your weaknesses, but you must understand what they are and decide if you need someone else to help you with them.
you should never give up on working on your weaknesses, but you must understand what they are and decide if you need someone else to help you with them

So first – identify your weaknesses. Then, determine if those weaknesses are vital to your business. Lastly, figure out if those weaknesses can be delegated or outsourced to folks better than you at those items. Keep working on improving those weaknesses without letting them be a hindrance to your business success, knowing that the right systems and tools are in place so that you are not stuck.

Are you one of those real estate investors who is still generating your own FSBO leads? We got a solution for you!

Check out our Lean, Mean Lead Gen Machine and get help from a Professional Real Estate VA with this routine task

Outsourcing 101: Why and When Real Estate Investors do it and Who needs it?

Outsourcing (by Wikipedia) – in business, outsourcing involves the contracting out of a business process to another party…and includes both foreign and domestic contracting, and sometimes includes offshoring (relocating a business function to another country).

For real estate investors most common is to hire Filipino workers for lower that American wage and delegate daily tasks that can be done remotely like data entry, seller calls, social media management and more. Outsourcing doesn’t always involve hiring a foreign virtual assistant (VA), it also encompasses hiring local people to help put out bandit signs, prepare mailers and more sophisticated investors even have folks to go to appointments and handle their sales department. This is all part of outsourcing.

Here is a quick Slideshare we’ve put together for you with the 10 tasks for Real Estate Investors to Outsource.

Why

Outsource Hub's Favorite Summer #Quotes for you to share on #SocialMedia Profiles like #Facebook to inspire your friends and colleaguesOften times real estate investors have to wear multiple hats in their business. Especially when we first start out and have not yet built a good support team, there is simply too much to handle. And certain tasks like scouting for FSBO leads, preparing mailers for the next mailing campaign or putting out road (bandit) signs are time consuming and have to be done very often – up to a few times a week.

That’s why it just makes sense to get help, local and virtual, and the faster you realize it, the quicker you can grow. But please,

Read this article to know what 3 Questions to ask yourself before you say the “O” word.

When

How do you know it’s time for you to start outsourcing?

We see too many people get seduced by fancy word “outsourcing” and jump into hiring a virtual assistant because it’s cheap or looking for other help because “CEO is not supposed to do thatOutsource Hub's Favorite Summer #Quotes for you to share on #SocialMedia Profiles like #Facebook to inspire your friends and colleagues. However those are not the best reasons and I believe it’s best to start outsourcing those tasks that you have done and hopefully mastered, so you can explain it to your new team member and be able to manage them afterwards. Even putting out bandit signs, I suggest you do it yourself once or twice to realize how much time it takes and how quickly they get pulled out so you know what to expect and require from your workers. The best time to start outsourcing is when you have a good plan of what you want to achieve with your marketing campaign (we’ll talk about marketing plan and budget in the later videos) and when you outline your budget how much you can afford to spend weekly/monthly so you don’t run out of funds before sending out that mailing campaign. So:

Learn your tasks >> Outline marketing plan and budget >> Outsource

Who

Outsourcing 101: Part 1 – Why and When Real Estate Investors do it and Who needs it?Are you the right person to be outsourcing? As crazy as it may sound, not everyone should do it! Why? Because besides the steps in the previous paragraph, the fun part begins when you actually hired your helpers. Are you ready to train your team members, can you manage them on a daily basis, can you tweak and adjust their tasks? Outsourcing does not mean “stop working yourself”, it means more responsibility and more free time for other things. Are you ready for that? I believe you need to be a smart leader, first of all, and be able to fulfill these requirements to be able to sort through the bad hires (and you WILL have plenty of those) and spot the great team members even when they are not yet rocking your new task. Maybe even babysit at first, so they don’t screw up. You gotta be patient, and be able to follow your own plan if you want this to work out for you. And even then, be prepared to waste some money on bad hires, wrong marketing campaigns and other unexpected by newbie investors things.

Good luck and here is to your outsourcing success

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