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KJCE 1370AM>Audio on Demand>>Real Estate Investor Power Hour Podcast 5/8/14

Real Estate Investor Power Hour Podcast 5/8/14

May 9, 2014|

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57 -- deadline is available 24/7. 5123295523. That's 512329. KG CU I'm talking thirteen seventy have been. It's time for the real estate investor power hour with Danny Weber. If you -- deal turns your revenue producer Danny has completed over 400 real estate transactions in the of years. He is a licensed real estate and mortgage broker and residential mortgage. Loan originators and insurance brokerage and access to join the conversation by calling the inning down 51239. Miles thirteen seventy. Now here's Danny. Smart everybody welcome to the real estate investors power hour. We are were actually I think broadcasting during the NFL draft is that right. That's right -- right in the middle of the -- I'm not sure if anybody's listening or not if you are caused about five point 2313. Seven it's 51239013. Setting. We've got our our coast tonight Jack Grady local broker investor sailor Jack hey everybody hey Dana White wedding Wear sunglasses in the studio here. I like Howard Stern I'm in the studio and is just kind of relaxing. Guy -- here okay actually going to be cool so now I want to be cool for sure we've we've got DJ. In our us tonight -- -- Malone junior he's a digital marketing who's gonna tell us how to IDs -- marketing ability need housing on. We've also got that -- Ajax beautiful wife in the studio. And you shout out to her she's understanding and then we've got brand. Brands here talking to us about doing some video streaming possibly for the show. And put the show on on video on the Internet which would be very and cool and scary the same time in the Christian via lobos. Issue producers in the house is well he's the goddess did you -- their. And that's a -- guys that we got a few things you wanna talk about tonight can't keep this in my taking any questions call us at five point 23 and a thirteen -- me or ask any leverage you know dot com. A few things you wanna talk about tonight. Yeah I I think one of the singles that the wraps. We're we're gonna get into a little bit conversation about mortgage traps and a some do's and don'ts and and that's exciting mortgage -- we we seem to get about 30% of our questions about mortgage wraps and subject to same thing and we're gonna talk about. Tree experience for new investors. I don't think and talk about why -- here which is digital marketing and cannot. Secure some some clients. Absolutely and that's a that's a key point for new investors and seasoned investors I think the seasoned investors on this show. We'll have an opportunity to see how they can transform their marketing because there's a lot of what we're gonna call analog marketing going on right now. DJ is on the cutting edge of what's new in marketing and it's it's really exciting stuff and I'll I mean I had a chance to talk DJ on the way here. And I mean he's got me except you know comics. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And -- wanna save DJ stuff for kind of the middle the middle part of what we're kind of settling into it on. One of the things that I I have always found and most people good at either good at. In person or they're good at you know kind of the whole marketing thing which is you know the digital. May -- anything else I don't I absolutely do not like to do anything else but but in person marketing. I just like a much stronger in person and I can someone close -- as much better. I went when you say that you don't mean you go knocking on doors and that's all you you'd have an Internet presence and you write that but when they call. You say when can -- come over rather bands like some of the the -- in town. You know. Do contract over the phone is is that is that correct you grow -- -- -- person. Supply. -- I don't know probably tradition of the time I knew the phone weather's going to be the only interest EnerNOC disaster really very pointed questions. When it is money on the phone the first time in and half the time. You know half the -- my disqualified you have to come across -- that you -- half the time I'm just like -- -- attorney to retailers here could turn into some other avenue revenue but it's not an investment deal wholesale. A -- Minnesota beat you or or you know something that I'm gonna flip. And and so really what you're doing without those questions are trying to find out. How to monetize. That listing and that's probably the biggest step for beginning investor. How are you gonna monetize that lead -- get because -- paid big bucks for that lead Seattle and legal costs 3520050. Dollars currently depending on you know what source you're using and to be able to make then turn that into money is a big deal. Right -- -- you don't have to mean they taught it's all unit cost things that keep you know if you paid. 15103000. -- -- marketing meaning out one deal that close to guess what it's worth it. -- you are you calling in person marketing because I would consider. Would you consider on the phone in person marketing. Yeah -- marketing verses on or do a lot of -- idea I do more of paper -- Mauricio stuff. In any thing and I do direct mail inject a district and we both those dealers. Tom I just don't I've never felt like I don't have the budget time inclination to try to compete with a lot of direct mail because. Number one -- my markers I would come across hardly in a direct mail piece you wanna buy a house not a good jump off a bridge too fast I don't I wouldn't say Whitman. -- would had a pretty words in the flowers from business this is the deal take it or leave it. But and you know there's there's there's a place for that and in May -- it is an SE -- direct mail you you've got to be a little kinder when a few else golf but you know what I love about Danny is he does not waste any time he easy he's on on point. And again everybody's got to find there everybody's got to find their niche in and -- does really well this CO paper click all that good stuff. What what's your marketing -- I mean I've never ask you now I don't know if you wanna tell us what your mark. Not I spend between three and 4000 a month okay one marketing. Which which used me I -- actually be doing it -- -- and better return and that in the elite you know everybody knows the person knows have been kind of crazy really get out of that. Dominating don't live in the last couple weeks of of rehab project is not -- three other. -- that are closing within the next you know seven to ten days every property. You know I'm I'm gonna be out -- fire really after today. Client and that's and he you've got a when you when you just have to catch your breath and -- you know he did he start to. Really sour on the owners our own appointment because you don't have time you mentally not there you're not in on the zoning. Really just busy -- you can go to a sales call especially in initial meeting with the client kind of dragon but. You have to go they're kind of wired with the intent to close the deal and it in and sometimes -- -- last few weeks I haven't been I've been just kind of wanted emotions. And so my motivation isn't there are not seeing the right things and I really motivated because -- -- -- -- other stuff. My mind and that's where Red Bull comes in you know -- that is under regular high impact I think SE 10 and if you ever -- thank. Exactly so ambassadors that step wine a Red Bull stepped to do is learn how to monetize. Those leads that coming in says so if we're doing we're doing direct now we're getting out or knocking on doors. Where we're doing what we would call and along marketing and that analog marketing is as successful as CEO is is another now it is if. I don't know if I'll consider as CO analogue amidst a little bit. It is -- met mean it happens on a computer everything like that. The only thing is it's not. It's not paid basically cannot directly paying for SCO. Missed more of the work you put into your side it's more of Alicia Alicia papers yet and a radio yet or you're paying for some outs and US CO. But that's so that's how we consider it a little bit more analog because not completely computerized. But it still is essentially it is a marketing and the main reason being because you can actually track it you can actually see what happens with it and you get metrics on it. Now now being designed to consider you're seeing and all he's doing anything that's not cut completely almost auto. Takes care of itself on the computer is it just is it in all log in -- is anything that happens outside. Of a computer off of the Internet. -- You can still track certain analog actions right like for example if you put out a -- sign any user tracking phone number yeah then you can see OK if these calls -- -- missed number than that became from that side. So you can you can and digital elements to analog but the actual. Analog marketing itself happens completely offline. And you know that what you said is really important because as you market you need to track. You have to track and ordered a tractor cost. You may be sending to absentee owners in getting a ton of calls them -- a direct mail piece but you're not closing anything knowledge you're doing is referring listings well hey you were first three or four listings get 25% off those. You're still monetizing. Mature not necessarily pulling into that investors -- want to. Keep keep in mind to -- -- when he 5% that if you're licensed agent if -- for an actual listing this amazed fifty dollars Max gives her -- skyline as -- but that's right Danny has that gotten back -- and -- -- everybody -- an agent which you know we talked to last. To a three shows you have to partner with a -- agent or broker. You apps we have to that way you can get him to do you -- and you know they can still get paid on -- and in the you know you know they want to with the money after that meaning you know. If he's your partner he can help pay for your marketing -- -- is actually joint venture in terms of there's ways there's waste today. Take it -- wholesale assignments that deal turning into retail which. I can't say how many money probably twentieth 30% of my retail closings were investor deals -- -- a deficit notice in the right thing as the retail. Right and and that's that's where -- listings are right now exactly from that you know it called a -- we were talking about the price. We were maybe 10151000. Dollars away from making it what I would call -- deal. And we put it on the market and there is good listening. So as where. One of the questions we got from Chris annual suit in May Randy listen to show he's investor here in Austin. Relatively new but it really in there working hard -- know Chris you. Christian knows Chris. He asked what some character traits for new investors and because -- investors but. -- investor with some character -- Jack well well when you say character traits is that like you know you have a good work essays are -- -- just what it what is -- what is the new investor needed to be successful and it is. First first thing to do is to do -- real estate investment groups in the Austin area you've got to -- in the fire. If you're out there by yourself -- just like you know when your boy -- you got a little Beatty fired on you walk away from come back -- bit technology -- -- -- embers. You wanna keep that are burning so get around folks listen to the show first off second dog get into some real estate -- so you're around success. When you see success happening all of a sudden it becomes very believable. And you may be just hit your head against the wall and not making any progress but when you turn around and Danny's -- three deals this month to go on well. That really works or what do what do I need to do it and then network in that group that's probably numero uno. Yeah I think it's important it. -- partner meaning you know we we we talk all the time a lot of revenue rose to -- -- as a partner but they also need a mortgage guys apart -- insurance guys a partner. New general contractors of partners of that setting your game yesterday so that when you're getting when -- that she should step up to a project. You do not calling you know people blindly trying to judicious self to get in front of your project. Exactly now another downfall -- -- or the negative side of that for inexperienced investor broker GC is Saturday night got a new investor. And you know the worst thing. -- can do -- and investors be it is exact arrogant like you know at all or come across. You know very pushy or demanding an end. I don't know -- you know David buttress he was here a couple of weeks in a row I was I was wondering -- company would be here tonight as well. In his book he talks about partnering and -- didn't think for a new investor to realize is. The blood. Sweat and tears that investors have gone through lack ourselves to get to where were act. It's it's like keynote Tiger Woods getting out there it didn't happen overnight. And so. What you as a beginning investor bring to the game is sheer excitement you're not bringing your experience you may be bringing capital I hope. You may be bringing a property. That's just the surface of the entire deal. There is so much involved in in rehab being fixing marketing in getting -- -- it was only go about choosing directly and are selling. Well William you know when -- really it's a personality test -- Yet and referrals I mean you've got to have I think I mean everybody he's the tones in Austin. Com has got on Craig's list at some point or another and said need carpet underneath underneath labor helped me this and that. And so I've put -- you know and in avenues Craigslist and obviously generally stable crew right now. That -- an -- for something and not the only skated to a three guys to show up hoping one would exactly. And you're lucky if that want to show the height and and you probably run him off -- -- -- by the end Diane Diane I've had you know a lot of times guys don't wanna hire. Women for labor but I can taste and in the last probably three. Times it fired off crisis for just general labor stuff the women of our guys really -- to one at least I'm not yet their history it is out there. Wow that is not a DJ had a good question how to pick a partner and you know they're going to the real estate group. Going to those real estate investment groups like we'll have one tomorrow at the -- are down down net the domain is that the launch that's -- -- -- -- so they'll be you know 405060. Of us there. Start looking at who the movers and shakers are -- up and introduce yourself. And then you know you'll see if you personality personality. I can't say that word -- except ten and from there you know you can you can decide on a partnership yet. Ask for pictures a successful projects as very -- hides from Verizon and you know by Dallas because I don't. You know who we don't trust anybody in this business without proof you know trust but verify is owed -- motto and so don't -- You know Sony Sony properties we want to be GC CA show me where you don't show me pictures inning -- referrals on client you've had. So that's great saving it or he's got a mortgage guy should know all the different types of investment products out there. And if he is feeling if he has a point 5% you know. Conventional loan that's -- go to 100 person at a time when that's not accurate as you can actually do. You know 15% down investment product and the state taxes can do up to an 80%. Rate term refi in the state of Texas. I talked somebody today that head to our yesterday it has -- -- loans. Fifteen year. The loans 909090. -- Yes -- I'm assuming they don't have those on their name they get -- have -- that it got -- you know they got him in several names but there's only about three or four in the group while and I said how did you do that they said cash flow. Yeah I look at our portfolio it's thirty pages long it's you know it's this it's that it's it's impressive. That's typically a bank product -- portfolio a lot of the bank is there's no there's no like conventional under no vote. You're gonna anywhere close that would attract TJ that there's a lot of -- to a private media one of those banks on your -- there's a human -- you a lot of portfolio for investors actually refer clients don't. Was keeping you went on the -- sitting talk about their investment their investment product because after after ten properties here you're ex date yes I do and anymore your name and so. Typically around property 678 asked are trying to talk to my investors about put him in a portfolio and kind of start over yeah yeah. Goods consumed so what what -- where the character traits Jack I mean when -- -- a new investor info on you they're cited some of them have money some of them don't have money some on lap times moan don't have to. You know that live probably the next big things they need to do -- ending getting -- -- you know the real estate group is the first thing the second is too like he said. Took up where they are not hook up they get their connected to win they have a real estate broker agent. And when I say that you need to get access to the MLS. Do you. Have to get access you're gonna drive your -- culture nuts. You know security this seeming to be seen on as they say they're not gonna donate -- but I they're not gonna do coming your always gonna be second third pull out their fifth on the deal. There -- doom if it's a new agent yet its continuation would be just about anything. It's -- in a cart -- money but they don't have the experience outright so he -- almost like a double whammy if in -- new agent that's -- -- -- Jack Jack always pushes this I agree with -- is which is becoming assistant but I -- -- I think what is an assistant -- honored to -- bar higher and -- and something dollars then you got some decent you know by the time you're all done with a 3400 dollars at the most -- -- gag -- get access to the in my Michigan. -- you do you can't get any -- I don't like you know when -- first working with an assistant I will not give -- -- Keaton because they've -- all of a sudden start acting like an agent and guess what then they get seed we get cedar legacy. You've got to be real careful but they they certainly at first will get access to the MLS if -- an assistant. And then they you know they can run the C -- they can learn how to do that. They can do a lot of a lot of work for the agent to get in net. Assistant position yet I know one of the benefits when you get to that point where you have got they have got a couple assistance and they basically manage their own -- may they gotta you gotta get a CBS could get into the box he can't use it right there on aging code. But you connect GO preview properties if you're actually be investing yourself looking to buy these things without bothering you know you can get never broker and agent -- everything -- -- -- -- So we're -- I'm about to break for a commercial here when we get back we're gonna -- a bit more on this. Need be investors stuff and bring heat -- makes about how to get some need to start marketing hitting closings. Let's do -- talk thirteen seven. Welcome back to the real estate investor power hour with Danny Weber. If you have a question for Danny don't be -- -- now at 51239. Out thirteen seventy. Hi everybody welcome back Tuesday investor power arm. Anyway every here with judge Jack Grady PGA marketing you roof. Com let's finish off with them because I know we've got a lot of new investors every when we get these meetings Jack and I get a meetings and meeting there with you on Fridays. I -- Philly but I still show up that's right. A lot of that you know what percentage of the folks there we think are new. Probably 80% 80% essentially -- -- that we we hold like down at the loft it's it's called launch pad so it is it's designed. Or it newbies that day he again most of the media groups you know folks are less than a year. Sometimes two years in the investment arena and that's nothing now that -- that that's that's a year and a diaper deal. 990 -- night period after I got you going faster naive and -- you know. Close -- -- deal has been burned a few times lost money and kind of learned earn earn your stripes here but so a lot of the folks I know. Last week there was a week before last -- one of those meetings in and some folks I talked to had money but no time time -- no money. A lot of -- have a lot denies it took a course that he read something on the Internet and no -- kawaiahao sensationalized investing is BA in HDTV in the property that Brothers and all these other shows right. That it's like reality TV. Tom -- -- feel about partnering with somebody. With you know that has money or time you know it's it's. I'm Betty if I'm going to take on a partner 01 I would liken to bring the capital and two I'm going to -- control. -- you know when I had so we're gonna miss this carpet and we're gonna put this towel and we're gonna do these things first these things second. It's really not open to discussion because I'm not going to be. Involved in a transaction that's going to fail. And and it. You start you can't have two heads on the serpent it just it just won't work and so that's probably dead and that's a hard thing for folks to. Deal -- -- especially investors because there you know they're independent they wouldn't be an investor they weren't in Bryant so. It does make it a challenge. Two to find a partner and you know someone -- work with. But I understand you know dead Danny myself other seasoned investors. We've closed a lot of deals we made money on these things we know what to do. We're not gonna go by the five dollar light switch covers that everybody wants to -- when they first start investing all that looks so great. We've just been a 150 well it's only 150 dollars. It adds. If you came in my step and actually Christians Benton. My most recent project going and tell you the street -- raining but if you go to this rehab. The master vanity double vanity is a Dresser that was left in the property. It can't be lucky that we -- seen it in nine made it look like that I kind of shabby chic. Weathered look and then the vanity in the guest. Major bathroom rather is the dining room table cut in half to -- the dining table and have stained it and put it up against the wall and put a vessel sink on it. And so the master bathroom is an actual Dresser with two vessel sinks in trough -- that that's amazing that she's seen it before I mean it's. It's there everybody he sees this -- while you must pay a lot that might know this was like left in the property. And you know that that's the key you've got to find where you can cut the corners. But it is that the biggest mistake is one is people say well it's only -- about -- selling 200 bucks those things add up. Two is the time involvement. People lose track of time timing is everything but time is money and so when you when you get involved in that project so you've you've got to let him. The experienced person. Be in charge and when you disagree too bad. Now I just mentioned something earlier about yield spread when you're getting no loan for -- freedom but what is. That's a different conversation with the spread is did anything to -- in the and it hopefully we've got a mortgage people listening Lama mortgage banker and broker -- so. They don't even use the term you are spreading where you it's pretty used to be the point said he broke her bank would make on the back in the Malone bankers didn't never had to disclose that to their borrowers -- brokers always gave -- and so you that you -- was basically you know if you made a point on the back and let -- -- And a 100000 dollar loan appoint his 1000 dollars -- made a point in the back end. In which you make points like if let's Ajax qualified for four point 25% rate right at you know at par. If I see ejected -- engages now for 75 I -- two and a half points on the back -- 100000 auto and making 25 and ours in the back in in addition to whatever I'm charging for it. And that's where those interest rates go up folks because when -- when they're charging -- that higher interest rates they're grabbing net yield spread on the back right that's not evil that's business all right an escalating on how difficult to Maloney have. Now you come with everything in a pretty little box and it's got to -- wanhatten and it looks real nice yeah then -- yield spread in the back is going to be smaller -- on the other hand you know you look like Frankenstein well guess what that bad -- Yield spreads going to be a little bit bigger because there's a lot of work and it. They -- into what I do with my client is I tellem and on the mortgage side as I say hey you know this is I tell on this is par. Do you want me to pay some your closing costs -- you wanna reduce fire originations July 8 by absorbing your rate in most of the time if it's if it's alone amounts under. A 15875000. It makes sense to raise the interest rates because every -- -- -- point emea region note eight dollars a month what you may be saving. 2000 closing that's right so did the math works for you in your favor a 100% of time do it that way when you get into 34 hours our loan -- to fifty. An -- of a point starts -- hurt more. -- -- like a homeowners country and say hey man and -- down 161000 dollars or they don't have to I have I'm just gonna do it didn't they don't have enough to get rid of the PMI but they're gonna put down a chunk of change why you're only saving yourself -- dollars per thousand save that money do something -- could invest it. So it's all of the -- if you look -- what to do a whole show one mortgages sure it. But hurt her own Iraq properties you can now hear your mortgage insurance at 5% down at 10% down and it fifteen. Where is the -- to be 20% across the board now they're special programs out there. You know lender paid Amaya par repaid MI split reminders all Cunningham lies at the they're in my companies came up with two carnac you know you pay more -- -- -- he rate may be looked tired but again. Almost -- a percent of the time and effort in your favor to do that to your reading your MI is MIA is bring buyers out of combat KJ in my went up. But I one point 75 rolled in and then one point three or three I it's something not earning I mean you sell -- to -- -- -- is -- -- and I'm forced to rank. But but there's ways to get around that but what are one of the things are nervous about this -- early investors have becoming a -- after targets things began to random question out there which is okay. One of the day I think most important thing for new investors to have some risk tolerance because again I I think you know if if there's fifty people in your meeting on on Friday Jack. You know forty over there. To listen you know three number five number going to be kinda pop studios inclusive deal is but out of those forty that are there to -- probably in -- probably only you know. Ten at a group that would actually risks something in India and to gain something and you can't get in investing without risk. And and a and a lot of glamour as a nation of of real estate investing people get there they get excited date date pay the money for the course the name they go to this -- They start to invest and they realize. Geez I could lose my money let's and I. And when you're in general you have to have some kind of risk aversion if you're gonna get outside -- just. You know just making money third. No actually in in I've towed episode I -- -- -- -- but my kids just an awful lot of -- as I can use everything you know and that ain't gonna get back. I'm not I'm not worried one bit about lose and everything I own and get an act that I know -- -- -- our mindset -- should be -- the second time -- already paid all that the abuses that -- -- to -- decisions the first you know twenty years and -- -- this -- the second -- -- should -- a lot -- You think yes guys that we hope so perhaps I mean there's always things that happened to you haven't seen. -- come around the corner and you know you've you've got to you've got to be able to handle -- screen -- -- risk -- I -- ask any questions about investing if you -- investor when asked some questions five point 239013 75 went 239013. Seventy. -- -- you not ask anyway every team dot com we promised actually look at the email this week yeah yeah NN district monitoring it Christians looking at. Probably one of the most important things for an investor for any investor but but -- Especially in new investor are believed in the we're gonna segue NT. Into DJ here a little bit. But leads are important because leads give use the qualified leads yet but what I actually aren't qualified to like as a first in the beginning just and a lead him picking up the phone and learning how -- one of the things that I teach people is like 83. Step. A process to answering the call like hello this is Jack how can help you. Thanks for Colin. What house oh yeah tell me all about it you know just just really simple conversation at first just to -- unity in the mode. And I am but delete your very very important. And it gives you the experience whether they're qualified or not at first but to make money they've got to be qualified. And I think that's where DJ. It really does tell us if you got we got folks listen tonight that. Decided not to watch the draft fifth time and are listing what do you tell us in ways that these guys can get some leads and just generically. Yeah I mean the simplest way is just to put up allegiance. Two kind of put that into context there's only a certain not different types of sites abroad for real on line. You ought to have an e-commerce you're selling something directly he has a site re -- we -- which is where you have another business and it's just funnels traffic into it. And then you have a site where is just for information which is someone just needs read like Wikipedia those types of sites. So when you're doing a lead -- the important part is knowing who your targeting. And what you want him to do. So. And I am I gonna capture pages right I mean that's all part of right. -- -- One of the things that I noticed -- did tell me yet because -- my mind started turning as I was watching that video of years you were talking about how you'd get a test market you were you were trying to put butts in a seat at erratic at their meeting. And you. You know. Touted big investment. India and one test group and then in the other test group you went impound the specific individuals in charge of the meeting and the end. You tapped into the air following exactly which was brilliant because the end. Dulles that was a captive audience and you attacked him on Facebook and you ended up brazen 20000 dollars I was at a two week period or something like that which was amazing that you were able to do that so when I have my mind started don't want I was like okay. I'm looking for. People with the money debt. Our investors how can I target that -- -- who are you are some big investors that have borrowings stand Merrill is another one. -- grove who's another when I mean would the list goes on and on so couldn't we backing and find their audience and back in a market to them is that -- -- is gonna. We go even further than that a -- when you get really sophisticated with it you can take people and try to find people in certain situations. Like for example. Tax liens foreclosures yeah I mean those the types of targets that most investors go after it is a slowing entry. Yet distressed properties how would how would somebody go after those in it is so if you wanted to I mean. What I would do is go after the three d.s this is some met. I forget his name from Beirut on capitol. Said but it's basically Deng's disaster and divorce. Since I people that are in those situations are remembered data but I like it yeah three days it's I mean but it it really is that's those -- times -- people are going to be looking to get rid of property that they have. So I mean a real simple way to look for that see if someone just broke during -- -- someone just broke their marriage and you -- -- also sets online. Five impact -- -- of good going based booking divorce you know continue to work on FaceBook and Twitter and stuff can you said -- a program that event -- can't. While a yet it gets a gets pretty. What happens with the digital marketing is it becomes very specific it's not it's not like your analog band assigned which is just like -- mud against the wall and DJ can pinpoint things like you stop how they get ready TV days those who haven't said that yet. Yes so I have site online in the -- confined endeavor MS dot com. You can find me on Linkedin under -- Malone. Minutes are you can how much is happy that you actually do the website yourself. Or do you actually pretty good the other web site to capture page and all that other stuff and then DS CEO and PP BC paper like you needed. I mean what what what services you offer. So I do does a market are trying to stay out of doing actual website stuff unless it's like an overhaul but you have somebody can refer to -- -- you know I mean I can handle in house I just try to I try not to unless it's part of a unless is part of an actual overall we're trying to take someone and basically give them additional presence. Lot of these guys and you sit there and am new digital -- a little something to what is a package cost of what would you assume are approximate a package that cost as you see creation wanted to do each -- site marketing you know. I don't know. For Clinton three peace treaties yet there and what would what do you what do you what do you estimate -- I don't want him on the spot as well art Harris at all yeah I thought so as where rambling here DJ is mind is turning so we're given him a couple of second to give it to -- -- -- -- -- -- so. I would probably do retainer 2000 a month and says basically. Get everything -- and deserves a lot of things that you have to do and you have to kind of do it in the right sequence. Tom the first thing you wanna look at as you wanna do some market research trying to figure out who exactly wanna target are you wanna go after him things like that. And venue build the site. To target that specific audience know what it what is it caught on 011 on the one of the sites I was looking forty. Floor leveler or something like that I'd go look for leveler and -- and I don't -- FaceBook and I got an advertisement before leveling. In other what does that qualities that it has its its amazing man -- vacant. Cook cookies oh is that any track at Madagascar is tracking cookies yes I was kind of angry I don't know what we tell people -- I know what I'm Google and he's oh okay see once an e-commerce site yes so basically they can see what pages you look at so if you look at an item or this is a big -- if you put in your car and you don't actually buy it. They know that they saw that on line so they're gonna send you emails like -- hey you wanna get a discount. Hey you wanna do so they're gonna tribal art make a purchase they can even go as far as to put that sign up page right to the ride of your basement or whatever I don't know man and it entice you didn't do it the first I play any go wow hey maybe I should sign it. An awesome way and DJ can do that what an awesome way to market I mean these people come here. I wanna sell my house passed and they didn't sign up guess what. DJ complacent bad little deal right there and say I wanna kind of favorites 100 gates put on the day we get it taken -- -- commercial or -- now and never ever in this thing and it will be right -- guys really taken a commercial break and those investors are -- right back but he. Welcome back to the the real estate investor power hour -- Danny Weber. If you have a question for Danny don't be shy Colin now at 51239. Out thirteen seventy. -- welcome back to us investor tarmac at least have a caller on the line. So we've got Steve aligned to fully take a call that strong thunderstorm face CDC. That's in the -- and that is a drinking song in college now I know that until Mikey came home from college and -- to play this game would be ready drink and that's an old song. Stereo sound all right Chris take this call from Stephen Patrick -- meant. Speed there. Yeah yeah all right Steve were you calling from. Thank -- and it calling her -- -- awesome awesome. We don't break 80 from central Austin tonight at ruby's distract I'm not agree I think yeah Berry get to what's going on. Well I'm barely need to invest being I can't I got the ball roaring they're generating highly competitive appointment. The question for you always in terms of following up -- haven't programmed you're perhaps speed is contractually he'd been an Alter how often do you follow up with. Prospective -- You wanna go first yeah yeah yeah I didn't do you get there email. And that's probably one the best things you can do because you can set him up -- good numerous programs aren't auto responder. Because if you leave it up to yourself you give busy. Stephen and you'll forget the out -- cinema an auto responder every couple of weeks depending on you know the type of motivation that that. That that person has I mean if it's pre foreclosure you wanna -- auto email you know I know response every few days. It -- absentee may be once a month just staying contact. But it says so it really depends on the motivation how often staying contacts. It and very and I do I do something different -- he is digital as I am and I'm actually pretty vigil I exceed every the idea I print. You know lead our -- right gave her right get it. In dumb I'm -- just keep track of the notes on there and in my filing system is very simple I've got a seven day a -- boxes and I got Monday to Sunday and hanging files and so our common Monday and I need to follow with a one wins the edges and in my Wednesday file. And you know Tuesday night Wednesday AMR or Obama wins if I do everything in and and the thing in the mood that's -- every day I need to move to after that. You know guy in California that I knew he was an insurance guy and that he had a box and he called -- his magic box it was the exact same thing. You know Digital's great that like all right just yeah a lot of guys -- I like to keep the conversation on TNA no I write out everything because then if something comes back -- you go IAA now you said business you know he got it. We're going to tracker whoever. They are looking for a software there's one that I like to use Zoho. I believe it's called to CRM. But it's it's not. It's not the best in the market but it is secure and early investors started to track and stuff like that. You can kind of get your feet -- with that and then upgrade into something and you know a little bit more featured heavy later on. -- one of the things -- Steve like that would Jack mentioned that it the year leads are gonna really dictate. When you follow up with him and I you filed with -- bit like it if it's a foreclosure and foreclosure date is ten days from there -- you know how much time out here Cameron daily. And in from a from a investor's standpoint you -- -- to the point that -- a hacking each out of this mess but you need to sign today or tomorrow those are -- need to kind of get the ball roll out. Now exactly mean on that the last before closure I didn't got the house I knocked on the guys -- or five times. Talked to him five times finally on the this time things happened I mean it is. Yeah and then you got me you know and most investors are asking us some investors that people negative mean you can't get a -- oh -- and hey I've got to wait to actually is a positive situation where you had to be wrapped. Wholesaler sign that he whatever it is you're -- and I would ever master -- because I promise you. If you're knocked on the door you get him as a lead there under some type of emotional duress -- you need to be the solution for whatever that is both financially and emotionally he can. And that that would be end your year follow up there you know began early should be the solution that's right. That is Youkilis and others. Yeah I don't let you know appreciate it. Thanks the had to look up there's the thing music -- and so all right hey you know and -- DJ was going to given give us some insight on now on digital marketing as far as you know what I was interest in is. Again if you've got if you got a lead sheet there that says hey I I buy a house this past him -- can't we go in if they don't fill out that form and just. That's put something right on their basement garage. So that would be retargeting. Basically what that is is it someone -- plans on your side as a tracking cookie and then you can pretty much. Those good as worry like if you go to one store and all of a sudden it's showing up in your FaceBook. It's showing up on your cool video below a dollar mine yeah the area that's retargeting basically go to their site or you went -- site one time and they just keep. And -- after I had everywhere ego. And your spending your dollars wisely because you have a captive audience you know -- -- a wonderful thing. But he catches everybody in direct mail I promise you when I go on our house there's 125 pieces of mail there and you know it there today may be captive but boy -- got a lot going. That's why that's why I hate to say I love eight paper clinic and an -- stuff because I'm no longer -- chasing the the indiscriminate macro audience I'm really kind of drilling down into him I'm looking for these terms. I'm looking for this you know personally he searching for this area it you know satellite got better because it's it's it's just quicker. More directed to the point now I spend more money in our average spend more money than most you can do on on male. Physical mail but I close more deals yeah so that I think that the math works but how do you compete I know a lot of the sites. The national -- -- that. We're competing against him and he got in and they -- a -- thousand already budget or Korea via. And really what it is this there are producing so much con -- doing so much sexy person sews up. It's it becomes tough to keep up with them I mean as CEO is still really good. But it's in it's a lot harder to do now because there's so many people doing it. Mean you got to realize there's still only one Google you know I mean you -- -- only doing once searched. And you only get about ten choices that are gonna show up it doesn't matter how many people are trying to track so the more people are trying the harder it's gonna be to get those spots. Yes well like I've always thought everybody no realistic where I'm not trying to compete against the big boys like that other Williams guys -- -- can't I'm not I'm not trying to beat him on paper I can be an -- person on a percent of the time I give -- what -- and on the budget or I don't before time marketing guys are trying to designs as army. Yeah well and and BJ is that that part ample time you know marketing guy in the in the digital world. Which takes it what I'm gonna say on the cutting edge pass that SCO. Past all that stuff due to give more of a direct. Through all the social media Twitter Linkedin and FaceBook all of those things are at his disposal any uses them to target. The market we got. DJ is going to be circulating in the investor market RG DJ -- AM actually going to be at the launch pad tomorrow -- once it's really all condemning the domain yet. 5 o'clock to seven. OK one at one of the things I think you know what -- back this is it again 30% of our questions are are always about wraps. If it in and is a new investor if you get a bunch of my two lead that you don't know what to do it. Certainly feel free to call me email me if I don't have time for -- refer to Jack. But. I can almost promise you that if you're an investor and you've got you know if you get ten leads. You don't close you know three out of ten or four out of ten you're not doing things as well as you should in a few close one out of ten that's that's actually decent. But three out of ten for a tennis better. So educated so leading you don't want to do with -- computers and email gives a call this week you know -- he -- it. I know mortgage -- -- hot because they don't they don't take anything I mean they're just you know my contracts typically. Was -- you that said that what journeys when you know mortgage draft contract it. If it's a hundred dollars it's anything at ten dollars I do a ten dollar. Could somebody as a man somebody you know what happened is somebody always bragging to. I used to do ice -- -- hundred dollars or so maybe 500 whatever was icu and Omar -- contracts they only 85 and are earnest when your -- dollars that are in somebody else to rely only do. Fifty and he he wins they win so now I want it to a dollar. I could see it enough to secure contract in the state of Texas it is and it's that's all it takes so and so I when I get a house under contract wrapping yea something I'm gonna I'm gonna wrap it's just. How are right to contract as an indoor signs such an -- -- -- science I can actually wholesale it. Bryant I can buy myself. A -- myself how to do so to finance it and them. Enjoyed in the liberated making -- a seller's disclosure. It is surveyed do all the things that you need to do is thank you Brian how major retail client. And exactly and handle it like AA typical real estate transaction that is an idiot thing a lot of folks -- -- stay with wraps his Euro came -- property with no equity. I'm completely -- raping a property with no equity -- negative equity. As long as it looks like there's an owner finance possibility there correct I'll take it I mean I get homes for free all the time August 25 dollar for a house rabbit and then you know put back on the market for 20030000. -- -- -- eight -- And with a fifteen to 20000 dollar down payment. And is always a Matt -- meaning that after the down payment you're still higher in the actual original pay off your interest rate is higher disability monetization chart you're gonna ever meet. -- go underwater on your side. Why not do that. Yes and and for that for the buyer that's in that owner finance market that's a good deal for them because they're not gonna they're not an out that qualify under conventional financing can't sell it -- you have to bring that in this telecast selling to buyers can't buy now they combine now the seller themselves. -- -- you -- cross your keys and -- your eyes because there's only you know with the with Dodd-Frank that's -- that's the big scary out there for everybody. But again if your if your brand new and then in the marketplace are investing marketplace. You know you probably need to talk to Danny in -- Some folks that really you know Billiton qualify those folks the right way together there's that they're stepping -- a Linear path you take with these deals but there's so I mean I I know assuming investors -- thought I'd like. Guys have been -- even realtors Jack how many brokers you know no no my mortgage -- All it's it's it. Very few very -- and if they do know about it their broker won't let them -- -- such a multi dose of the field is why already to harvest for those guys he'd get out there and do you know mortgage reps I mean if there's any agents with properties that you're talking your clients that you're gonna have to bring eight or 101000 dollars at closing just to sell it. Forget I mean yeah I mean send me those properties out out you know give a thousand dollars and taken note. And intake of property and get my referral thing that's right yeah yeah yeah I Eleanor referral -- any day of the week that's threatened strike in and it's such a great great option. Now I know most people out there today may you may understand a -- just give a brief description -- so folks can -- mortgage -- subject to bomb or under is basically when year. Purchasing a property with an underlying -- typically do you know one of the big boxes I hit a nine and I just said underlining that again that's great to some folks a house that has a mortgage yes so like so Jack's house -- -- it would Jesse Jackson you know. Breakeven equity or negative equity on a summer now he's got a mortgage to. Com Wells Fargo say. I will basically get well assign us -- sign over the house to media regular closing at a title company there's attorneys and in town and -- -- -- Chester does it without warranty and didn't and Castro doesn't yup -- You know it will go to the regular title company. Title insurance everything anyhow basically. Take over their payment not assume the note and no because like he can't -- -- no no no interest in movies -- -- which gets to the qualified court. So a lot of people like to see -- -- -- an assumption you're just basically taking over their payments that note stays in the person's name. But -- -- transferred to U. Attract our own Jack's house with you know lying property notes staying in his name and -- but I'll still have responsibility you -- honor for the note. I guess what Alice -- -- -- -- -- what -- yeah you can't afford you have already knew that you need to move next week that's right ammunition that there's -- hunters and here's a lit agent and then. And what I -- -- do with my clients is out -- analogue in their site as long as it's not part of their bank account information and largest Internet alliance and receipts every month or his drop I was Fargo whatever. Paid -- get their seats and it comes of it you know it paid. And you know and a lot of guys are investors. Will use an an escrow company and are starting yet that's right now and so a lot of sellers like that a little bit better you know -- been around along an opening instills a lot of confidence if you knew. Easy an escrow company that payment can go there and into the -- in in some instances you can get an escrow company that will report to the credit bureau. So for the guy who has no credit. Bad credit and wants to build this critic. Here's the opportunity he gets that -- finance sends it through that escrow company that reports the credit bureau and wham bam thank you -- now he's building credit Ambon have. Absolutely. Guys. We've got about thirty seconds left on the show. DJ is going to be an hour at the event tomorrow night. We resident Jack at the loft in the domain its effort called the park but if -- -- part people think it's part but the law. In the background that they all right I don't just past the west and are you guys are I would read it tomorrow night -- and it's that we're gonna covered three joining Anderson we'll see -- shortly currently on Anderson and apart. Tomorrow night they -- only get. Every night -- investors are. Think you.

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