Do you think of the importance of rapport in your real estate investing business? You should. In today’s episode of The Flip King you’re going to hear from Joe and one of his good friends, a real estate investor, rehabber, and wholesaler who’s been in the business for many years. When asked what the most powerful and important thing to do when contacting potential sellers, Paul Allemby answered without hesitation: Rapport.
What is rapport? It’s relationship. It’s concern. It’s true care for a real person who may or may not become your client. It’s you taking the time to find out about them, learn about their situation, and do your best to truly help them. When you build that kind of rapport into the DNA of your real estate investing business, your business can’t help but grow because you’ll be helping people accomplish what they need to accomplish in order to solve their problems and make their life better.
Paul Alemby knows about rapport. He’s spent years building his business on it. Repeat business comes from past sellers who you treated well and took good care of. Referrals come through people who felt that you understood them and helped them accomplish the things they wanted or needed to accomplish. Don’t underestimate this piece of the business. It’s not about the number of fliers or mailers you send out - it’s about what you do with the contacts you make as a result of sending out those pieces.
You’ve got to learn the art, skill, and power of rapport if you want your real estate investing business to be all that it can be. Joe and Paul are going to school you on it in this episode of the Flip King.
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Introduction of Paul Alemby and his philosophy of finding real estate deals.
Driving for dollars - the “old school” way to find great deals.
Practical things to look for in a good rehab deal.
The advantages of dealing with a long-time homeowner.
The most important thing on your first contact with a potential seller.
Why Paul doesn’t negotiate by text or email.
Spend the time. Slow down. Real estate deals depend on good repoir.
It’s true in real estate investing: people don’t care how much U know until they know how much U care
You should never negotiate a real estate deal my text or email. Never
We are stewards in this land. It’s our job as investors to handle it well
If you want your business to flourish you have to connect with human beings
When you get into the real estate investing market, you’re going to talk to sellers. There’s no way around it. But it’s not your typical conversation and it’s not something that comes naturally for a lot of people. There are things you need to know from sellers, and you’ve got to know how to talk to them in order to get that information. This episode is all about determining what kind of seller you’re dealing with, what questions to ask them, and where you go from there.
Motivated sellers VS non-motivated sellers. The key to finding out is asking the right kind of questions. You have to know the needs and wants of your potential seller, and the only way you find out those needs and wants is to ask better questions. So what kind of questions do you ask? How do you go about it? Joe’s going to walk you through those issues in this episode.
This is a practical episode. You’re going to find out some powerful, hands-on information in this episode from Joe’s hard-learned experience. In every situation you want to find out how the situation can benefit the seller just as much how it can benefit you. A big part of that is learning how to discern the seller’s situation and how to factor in the aggravation level the seller is dealing with. That is one of the biggest things you want to find out, and you can learn how to do it in this episode.
Beyond all of that is the ability to build ongoing relationships with the sellers you work with. You’ve got to learn how to think how you can find out what people’s pain is, how you can solve it efficiently and effectively, and build an ongoing relationship. You’re not out there to get the absolute best deal for yourself, you need to be more concerned about whether the deal is actually good for your seller. If you can learn how to do that, you’ll gain trust that will follow you for years, resulting in more and more deals over time.
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What kind of seller are you dealing with - motivated or not?
The questions you need to ask to discover which kind of seller you’re speaking with
Dealing with estates, families, and all the issues that go into that kind of situation
Learning to gauge the frustration-level of a seller
Knowing what motivates a seller and what doesn’t
The questions that can help you understand the sellers pain and needs, and how it can help you structure the best deal
Looking long-term: how you can have ongoing referrals from dealing well with a seller
Why your job is to develop rapport with sellers
If you want to make more Real Estate Investing deals, ask better questions
Learn how to gauge the frustration level of real estate sellers in this episode to close more deals
The power of building rapport in real estate transactions. Hear how it works in this episode
Long-term relationships from first-time seller conversations - on this episode of The Flip King Podcast
Knowing what motivates a seller can be key to your real estate investing success
Today’s show brings you a “real” show, a show that takes a look at the real estate investing business the way it really is. Joe’s talking to you today about being uncomfortable, being in a place where you don’t know everything that’s going to happen, and learning how to be OK with that fact.
That goes against the grain, doesn’t it? Many people want to be successful so that they don’t have to be uncomfortable, so that everything smooths out and runs well. But that’s counter to building a profitable, thriving business.
Why? Because pushing yourself into uncomfortable places is what motivates you to grow, to flourish, and to succeed. You won’t hustle enough or work hard enough if you’re not uncomfortable. You won’t move to the next level, whatever that is for you, if you aren’t uncomfortable. The temptation is to sit back, rest on your past successes, and let the world pass you by. But you can’t do that if you want to succeed on a greater level. You have to push yourself to be uncomfortable.
But Joe’s not saying that you move into a realm of discomfort for the sake of being uncomfortable. It’s about the pressure to move forward. It’s about the motivation that rises up when you get in that uncomfortable place. THAT is what you want, no matter what level of business you’re doing. You want the discomfort to drive you forward.
The raw and real nature of the Festival Flip show
The importance of learning to be uncomfortable
Why being in an uncomfortable place is key to real estate investing
What being uncomfortable does for you
Pushing yourself outside your comfort zone is pushing your business forward
How changing your story about yourself helps
Successful real estate investors got into the business by being uncomfortable
An example of how to get started through an uncomfortable step
When what was once uncomfortable is no longer uncomfortable, you have to push yourself
No matter where you are at in the business, you’ve got to push yourself to stay uncomfortable
If you’re not uncomfortable in the real estate investing business, you aren’t doing enough
Don’t allow yourself to get too comfortable. It’s the discomfort that drive you forward
If you feel comfortable in your REI business, push yourself into the next uncomfortable spot. That’s how you grow
Success through discomfort. That’s the recipe to follow. Find out more in this episode
How do successful RE Investors get there? Through pushing themselves INTO uncomfortable situations