Expected Air Date: 06/5/18
Good morning everyone I’m Roger Blankenship your host. I teach people how to make money in real estate. We don’t encourage everyone to drop what you’re doing and start flipping houses like you see on TV but we do encourage everyone to include real estate as a part of a balanced investment portfolio. Let’s talk about real estate! Let’s talk about life.
On this show we try to bring you the best news and how-to information, resources, statistics, demographics, trends, styles, ideas, techniques and introduce you to people who are turning all of this into successful businesses and careers.
Years ago I was visiting with a friend in a small town in rural north Georgia and we were touring his farm. He was a chicken farmer. That’s right, a chicken farmer. If you’ve never been to a chicken farm, try to imagine a barn that’s the length of a football field.
Now imagine 6 of these lined up in a row, each one filled with a hundred thousand or so chickens. Now imagine a powerful ammonia smell that is especially difficult on hot summer days. That doesn’t tell you what it’s like to actually raise the chickens, but that’s what it’s like to be there.
As my friend told me about the process and how it worked with the packaging company, I grew especially interested when he told me how much money he could make from each chicken house. As I did the math in my head I started picturing myself as a chicken farmer so my questions turned a bit more personal. “What does it take to be in this business and stay in it”, I asked. He thought for a moment and then said, “well, you kinda have to like chickens.”
I think that’s true about anything you’re going to do. If you want to be a real estate investor you don’t have to love real estate. You just kinda have to like it. You have to like it enough to get out of bed every morning and make things happen. Because this business isn’t going to come to you. It’s out there and it’s within your grasp, but you have to go get it.
I want to think more about farming today because it’s June and the peak of growing season and indeed here in Georgia, some crops are already coming in. I’ve never been a farmer, but when I was a kid and all the way through my high school years my dad maintained a garden, usually a couple of acres.
And my sister and I were part of the labor force to make that garden productive. We were there for the planting, the cultivating, the weeding, the harvest, AND the preparation of the food for long-term storage. There are several important steps in growing a crop and I’m intimately acquainted with them all. But nothing is more important than planting seed. Without that, you’ll never have a crop.
Today I’m going to use this analogy for your business. “Business Gardening”
- Prepare the soil. Get your training, Do your homework, Prepare your presentation, practice your pitch. Get your heart right, your mind focused, and your hands and feet ready to work.
- Plant lots. Seed is inexpensive. In business it’s your time, your conversations, your networking, your energy. Don’t worry about using up all your energy, you’ll have a fresh batch tomorrow.
- Plant even where you haven’t prepared the soil.
- Don’t try to control the results from a limited planting, just plant lots of seeds.
- Finding deals? Work lots of sources and work them a lot.
- Raising money? Never selling, but ALWAYS informing, ALWAYS listening,
- Need contractors? Interview lots and constantly.
- Growing your market? Talk to a LOT of realtors. Plant LOTs
- Plant everywhere. Don’t worry whether your patch of land gets enough sun or water. You never know what will come up.
- Plant all the time – in business continue to plant while you are cultivating the current crop. Plant even while you are harvesting. Plant in the morning, plant in the evening. Plant all day long. Every conversation is a potential connection. In time you will find it difficult to cut loose and just have a relaxing time with friends without talking about your business. Good! You are almost there. I’m not saying you should never relax and have a good time, but honestly, 98% of us don’t need any practice with that. We need to get serious enough about growing our business that it consumes our thinking. In the winter time my dad often sits at the window looking out at his garden. Not saying a word, he’s just thinking about what he’s going to plant and where he will plant it next year. He’s making a schedule. It looks like he’s relaxing and doing nothing, but what he is actually doing is creating next years harvest.
- Plant more. This is a tough time to find a deal. If that’s the way you choose to look at it, then it will be. There’s always something tough, always a challenge. But there is always an opportunity. And it is ALWAYS there for the person who is looking, listening, working, and PLANTING SEED.
- Fertilize the garden – Not talking about layering your business presentations with manure. What I mean is create credibility by keeping track of what you are doing, document your successes and use this credibility to make your seed-sowing more fruitful down the road.
- Weed your garden. Weeds can choke out the harvest. Destroy productivity, reduce fruitfulness, limit results.
- Answer questions
- Deal with objections to your plan.
- Resolve impediments
- Weed often – the little weeds are easier to get out. Conduct frequent reviews.
- Review Plans and forecasts. Windshield weeding
- Review Results – Rearview mirror weeding.
- Automate the weeding as much as possible. Refine processes – eliminate inefficiencies.
- Hand-pulling, pencil and paper monitoring
- One-wheel harrow, spreadsheet
- TRACTOR!, apps, scanner, technology
- Water the garden – Follow up. Stay in touch
- People don’t want to be sold to. They want to be heard.
- No one cares about your business goals. Everyone cares about their own goals.
- Make it your goal to help others reach their goal.
- Pour it on. Not repetitive sales pitches, but attention and commitment to others.
How to Reach us
Twitter and Instagram @FlippingAmerica
Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
- Lunch with me every Wednesday.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and soon the entire catalog of shows will be available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
Motivational Thoughts for the day
- “People often say that motivation doesn’t last. Well, neither does bathing — that’s why we recommend it daily.” — Zig Ziglar
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Questions@flippingamericaradio.com Tell us where you’re from!
Questions@flippingamericaradio.com Tell us where you’re from!
[0:27] It’s time for flipping America the show that teaches you how to make money in real estate or wherever you are whatever your situation there is an opportunity for you.
Flipping America is brought to you today by Braswell Capital Solutions commercial lending made easy on the web at Braswell Capital solutions.com.
And now you’re sad flipping America guy Rodger Blankenship good morning everyone thank you Kathy hey I’m Rodger Blankenship your host and I teach people,
how to make money in real estate.
We don’t encourage everyone to drop what you’re doing and start flipping houses like you see on TV but we do encourage everyone to include real estate as a part of a balanced Investment Portfolio
so let’s talk about real estate and today we’re going to talk about life.
Life and real estate on this show we try to bring you the best news and how to information resources.
[1:25] Statistics demographics Trends Styles ideas techniques and the people,
that make those things happen we’re going to introduce you to people who are turning all of these things into successful businesses and careers
dive documented 85 ways that you can make money in real estate and I summarize those in three broad categories you can buy with the intent to improve and turn around and sell it quickly or
you can buy with the intent to own it and create cash flow.
Or you could invest passively into the activities of those that are doing one of the previous two.
[2:08] So we’re able to help you with all of those things and we won’t invite you to visit us at flipping American network.com and I will help you any way that we can that’s what we’re here for.
[2:19] Years ago I was visiting a friend in a small town and Rural North Georgia and we were touring his farm he was a chicken farmer.
That’s right a chicken farmer now I would imagine that most of you listening to my voice right now have never been to a chicken farm and
you know you probably heard the joke about the guy that wanted the city slicker they wanted to be a chicken farmer and he called and ordered some chickens and then he called back a few weeks later in
ordered some more in the supplier said you shouldn’t be finished with the first chicken chili said what they all die do you said really
well I wonder why I said I don’t know maybe I planted them to close maybe I planted them too deep but anyway just a joke.
It’s not even that funny I don’t know why I told it but here we go I was actually on a real chicken farm now if you’ve never been to a chicken farm I want you to try to imagine a barn that is the length of a football field.
[3:19] Now imagine six of these lined up in a row,
H1 field filled with a hundred thousand or so chickens now imagine a powerful ammonia smell that is especially difficult on hot summer days here in Georgia and it is,
it’s really difficult to be around that doesn’t tell you what it’s actually like to raise the chickens but that tells you what it’s like to be standing there on a chicken farm and I won’t go through all the details but it was an interesting to her,
as my friend told me about the process and and how it worked with packaging company I grew especially interested when he told me how much money he could make
from each chicken house now this guy quit school after Middle School.
His family had a little bit of land and he started building these chicken houses and he was in this was in
but it was a long time ago but he was making in the six figures with these chicken houses and I started doing the math in my head and actually I started picturing myself as a chicken farmer for a minute
and soaking the question is turned a little bit more personal I said so what does it take to be in this business and stay in it.
He thought about that for a moment and then he said well you kind of have to like chickens.
[4:34] After I got finished chuckling at that answer I realized that I did really didn’t like chickens that much I like to eat them but that’s about the extent of my relationship with him.
But I think it’s true and just about anything you’re going to do now my friend and partner Jim Beach says that.
You don’t need passion creativity or risk to be an entrepreneur and I do agree with that and I love the way that he says it so I don’t think you have to be passionate about what you’re doing but you do have kind of like it got to be okay with it
and as long as you kind of like real estate that’s that’s probably good enough but what you need to be passionate about is you need to be passionate about,
taking care of your family and providing the income and the things that make you get out of bed every day he knows that that your reason your why your motivation.
[5:26] So if you want to be a real estate investor you don’t have to love real estate but you have to kind of like it.
You have to like it enough to get out of bed every morning and make things happen because this business isn’t going to come to you.
This is a mistake that I see people make so much and even on the way into the studio this morning listening to the radio listening to commercials from a particular Guru.
Talking it was coming to town and it’s going to soak a bunch of people for 30 to $50,000 ultimately that’s not the way it sounds on the radio commercial
but they’re talking about how you can get rich and how you can do it and you can get rich quick and within 90 days and we turning these huge profits and so forth and they make it sound like the Monday Monday Monday used car salesman and it just bothers me because what they’re doing what
what they are doing is just taking advantage of people’s desire to pay a little bit of money with the hope that easy money is down the road,
and they’re selling that kind of dream this business doesn’t work that way this is why more than 90% of the people that sign up with one of those National Guru programs never start a business and never even by their first investment property after spending all that money.
Well I didn’t mean to get off on a rant there we listen to Circle back around this business is not going to come to you but it is out there and it’s within your grasp you just have to go get it.
[6:52] I want to take a little bit more about farming today.
Because it’s June and we’re at the peak of the growing season and here in Georgia anyway some crops are already coming in I’ve never been a farmer but when I was a kid my dad.
My dad has always maintained the garden and even now in his 80s continues to maintain the garden but that when I was a kid living at home.
[7:19] I was basically the one of the part of the labor force for my dad’s Garden it was forced labor I don’t want to call it slavery and you know it was never abusive but I was expected to work in the garden and it seemed to be is up to me as a kid my dad said hey son you can play high school sports if you want to do the garden I’ll be waiting for you when you get here
and I have been out in the garden with a flashlight strapped to the one-wheeled Harrell,
running up and down the aisles of corn because I got home after dark grab some supper and went back went out to the Garden after,
football or basketball practice and I taped a flashlight to the handle and and I was out there cultivating corn.
After dark yep so I wasn’t very happy about that actually was kind of resentful as a kid but I’m grateful for the lessons I learned about working and I want to share some of those lessons with you
barely acquainted with the process of growing a crop and it just a couple minutes.
I’m going to relate this to Growing your business and I’ll do that.
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[10:25] Kid sister and I were part of the labor force to make my dad’s Garden productive.
We were there for the planting the cultivating the weeding the Harvest and the preparation of the food for long-term storage can’t tell you how many afternoons we set around snapping beans.
There are several important steps in growing a crop and I’m intimately acquainted with the mall but nothing is more important.
Then planting seed without that you’re never going to have a crop so we’re going to start with planning seed and we’re going to talk talk today about growing your business using this analogy and so I’m calling Today’s Show.
Business gardening you ready Step One in gardening is to prepare the soil
you got to break it loose and make it so that the AC doesn’t place to go that it gets and then gets buried but it doesn’t get too deep and so you break a loosen the big clouds and you run over it and then break it down a little bit more until you got,
kind of a fine soil on the top just gives you the optimal best chance for your crop to grow.
[11:33] In business you prepare your soil by getting your training,
get some information and my friends if you’re thinking about real estate there is a ton of information available to you you don’t need to go to one of the weekend Motel seminars,
just get online go to flipping American network.com there are
ton of resources at our website for you news and information and I’m happy to report every show that we’ve ever made is accessible right from our website but we also,
have our own app and you can download the flipping America app and you can get a complete education in real estate investing just by listening to the show listen I’ve been here for every one of them,
I know what has been said and I know that I’ve given you a a lot of my secrets in the process is in the things that we do there’s free information out there I also really like BiggerPockets I’m a fan I’m a member.
And have been for years.
And that’s a great source of information as well there are others as well I’m sure so get your training do your homework get your information now.
[12:40] When you get ready to start your business you’ve got to,
really think about what it is you’re going to do there even if you’re in the fixing and flipping or if you your kick you know that category 1 you want to buy with an i to improve and resell
there are a lot of things that you need to know and you need to kind of make a plan or if you want to be in category to where you want to buy and cash flow.
Little bit different preparation there is some overlap but.
[13:08] Do you think about the numbers a little bit differently and you have to prepare yourself you have to know what it is you’re about to do and you’re going to have to pitch this to somebody because
unless you have your own money to do the deals you’re going to need to prepare a pitch.
Even if you’re going to use your own money I think you owe it to yourself to figure out what you going to do and know what your limits are and what your offers are going to be in that sort of thing so you get your heart right.
Your mind focused and your hands and feet ready to work that’s how you prepare the soil number 2.
Plant lots of seed and when I say lots I mean lots of lots seed is inexpensive.
Don’t in business the seeds that you plant are your time your conversations your networking your energy.
Listen my friends don’t try to save your energy use up all of your energy every day and don’t worry.
If you use up all your energy you go to sleep at night you wake up with a fresh batch it’s almost miraculous so you’ll have more energy tomorrow don’t worry if you work yourself tired today.
Give it all you got.
[14:23] No when it comes to planting seed. I have a lot of things to say about planting and some of this isn’t really good gardening practice but it’s good business practice.
I want you to plant everywhere plant even where you haven’t prepared the soil.
[14:40] Don’t try to control the results from The Limited planning just plant lots of seeds wherever you go you’re talking about your business you know I think I’ve told the story but recently.
My wife and her friend her girlfriend and I
we’re going to go to a movie together and we decided to take Uber over there cuz you had to pay to park at the movie theater anyway and so we were obering over and that meant I was sitting in the front seat talking to the gentleman who is driving us and,
you know just part of the natural conversation I asked him you know what he did for a living He said while I’m driving Uber right now but I’m working on being a real estate investor I said I was that so.
Long story short.
[15:23] We started talking about flipping America and the next thing you know this gentleman is coming to my networking meetings and is interested in becoming a part of our mentoring program and all of that from an Uber ride with a
if you believe this completely random driver.
[15:41] What my wife’s girlfriend was sitting in the backseat and I overheard her lean over and say to my wife he never turns it off does he well that’s true.
I don’t turn it off because it’s a part of who I am it is what I am on the flipping America guy I’m thinking about this all the time and I wasn’t trying to sell,
Ken is his name I wasn’t trying to sell canned anything we were just talkin but Kim was already interested so I planted some seeds.
And you know the seed hasn’t even come to harvest yet but who knows so plant seeds wherever you go.
Fitbit let it become a part of who you are where you just talk about if you want to be finding deals.
You have to work lots of sources and work them a lot plant lots of seeds.
Lots of sources work them a lot are you raising money okay well you’re never selling but you’re always informing and you’re always listening.
You’re always looking for people who are trying to put their money into something more effective and if you got something that’s getting a better rate than what they’re getting or something that’s like what they want then there you go.
[16:46] Always keeping your ears open and listening for the opportunity always planting seeds always always plant seeds plant some more do you need contractors.
Of course you do so after you’ve hired a good one what do you do,
keep interviewing and hiring more even the good ones don’t last forever and if you’re going to grow your business you’re soon going to get to the limit of the capabilities of this one so,
life is always changing and needs are always changing so always be interviewing contractors interview Lots interview them constantly.
[17:25] Are you growing your Market you need to talk to a lot of realtor Realtors talk to lots of Realtors and plant lots of seeds.
Plant everywhere don’t worry about whether your patch of land gets enough sun or water you never know what’s going to come up plant all the time,
in business continue to plant while your cultivating the current crop plant even while you’re harvesting plant in the morning plant in the afternoon plant in the evening plant to all day long every conversation is a potential connection,
in time you’re going to find it difficult to cut loose and just have a relaxing time with friends without talking about your business well good that’s a sign you’re almost there.
But you’re not completely there yet because you are able to cut loose and relax I look I’m not saying you should never relax and have a good time but honestly 98% of us don’t need any,
actress with that what we need is to get a little bit more obsessed about our success in our business we need to get serious enough about growing our business that it consumes our thinking.
[18:30] In the winter time.
My dad will often well if there’s not a ballgame on my dad will sit there and look out the window at his garden spot the garden spots not doing anything at this time.
It looks like my dad’s just staring out the window but what he is really doing without saying a word.
He’s thinking about his garden he’s thinking about when he’s going to plant in his mind he’s making up the schedule,
where he’s going to plant what he’s going to try different how he’s going to improve some little tool that he’s going to add to the process
and he’s going to go out and grab the welder even as an 86 year old man and try to create something it’ll tool or Improvement something he’s always thinking about
next year’s Garden he’s making a scheduled way it looks like he’s relaxing and doing nothing but he’s actually doing is creating his future success.
[19:22] Plant more plant a lot of seeds plant more.
I got more on this Garden analogy coming up but the music means we’ve got to take a break.
[19:48] Flipping houses I want to show you how to flip houses and there’s probably no one in the country better qualified than me to show you I flipped hundreds and hundreds of them,
and I also have some training and degree and experience and education so I could show you how to do exactly what I’ve done hundreds of times don’t believe me.
Head on over to flip starter event.com but in the meantime Give a listen to Pat caywood.
Cleveland Tennessee and I’ve been.
Doing some flipping since about March of this year and had started with a Nationals program that was very expensive I spent today with Rodger Blankenship.
Learning about his program and boy do I wish I’d met Rodger first.
He has a clear concise program and many tools that are going to be very hot.
And starting and managing a program and the mentorship and Leadership and coaching that he saw frame are in value.
Thank you so much.
[21:45] Hey you know what if you talk to people who are involved in the real estate business right now particularly people who are trying to do single family homes they’re going to tell you that this is a tough time to find a deal.
And if that’s the way you choose to look at it then it will be do you know if you think it’s a tough time to find a deal it is a tough time to find a deal but here’s something that you should know.
From someone who’s been in business and in this business for quite some time there’s always going to be something tough.
There’s always going to be a challenge but there is also always going to be an opportunity that’s one of the great things about capitalism and free enterprise.
There is always an opportunity it made me sideways from where you’re looking at maybe in the other direction but there’s always an opportunity.
[22:37] If deals are tough to find fine then get tougher finding them work harder work more plant more seed get out there look more.
I had a friend tell me man this is not a needle in a haystack this is looking for a needle in a pile of needles and I like that it was humorous and I like the thought of it while I don’t really want to dig through a pile of needles but.
Illustrates that it can be difficult to get this done fine.
Embrace the difficulty and get it done because once you get the tough stuff done the opportunity is going to follow.
And we’re going to get there with this planting and gardening analogy alright so we’ve talked about planting and I think I’ve really stressed enough you just have to plant a lot plant often so a lot of seed next thing you have to do is you have to.
[23:28] Fertilize your garden no I’m not really talking about layering your business presentations with manure.
You know we have a little saying that blind them with Brilliance or baffle them with BS but that that’s not what I’m talking about at all what I mean is create credibility.
[23:51] Keep track what you doing document your successes and uses credibility to make your seed sowing more fruitful down the road.
When we’re talking to people and you know we’re still actively working on fixing and flipping houses and,
we talk to people all the time we talked to funding sources all the time we talked to some of you.
People are calling in and saying hey I’m going to get involved in an investing with flipping America guy don’t want to do the work but it sounds like you know what you’re doing and so I want to trust you with my money and we appreciate,
and thank you very much and as part of that process people want to see a little track record and that’s completely understandable I had a gentleman just a couple days ago asked me for my last five deals
well I have a spreadsheet with my last 200 and so I went ahead and send them he cracked up he said man,
I asked you for two and give me two million this is awesome so.
But we have that track record as a way of building your credibility and that’s what I mean by fertilizing your garden.
[24:53] The fertilizer is what provides the nutrients that will enable the seed to be more productive and produced more fruit so once you have some success and some credibility then you’re going to be able to have even more success with
the future seeds that you sell,
now the next thing is going to happen especially after you have fertilize your garden is you going to need to weed your garden weeds can choke out the Harvest they can destroy
productivity reduce the fruitfulness and limit the results so you’ve got to weed the garden at what are the weeds that you’re going to encounter in your business,
what you’re going to deal with problems problems are going to happen a wise man said to me one time that being in business for yourself is
85% solving problems and 15% doing the business thing that you thought you were getting the business for I don’t know if it’s really that number and I think that that was just based on his experience,
I know that problem solving is a huge part of what we do as business owners so prepare yourself
problems you’re going to happen why do problems happen because,
the world doesn’t operate as perfectly as your business plan your business plan doesn’t have a problem a problem being bad decision A&B thrown in there just to make life difficult but.
[26:12] That’s exactly what happens life happens people sometimes bring problems with them,
and it’s difficult to do business without people so when you have people you’re going to be no kind of have their problems to deal with and you’re going to have that so,
problems are one of those weeds that you got to continue to deal with questions is another one.
[26:35] People are going to have questions it especially when you’re getting started people are going to question you,
hopefully they’re not questioning your sanity but some might but they might they might be questioning your ability to pull it off and they might even be questioning your plan so you need to be prepared to deal with objections to your plan,
and concerns about your ability to pull it off all of these things.
Can be an impediment to your Harvest or weeds and you got to get after them okay now this is a hard break so we’ll be back in just a minute and I’ll finish talking about weed in your garden.
[27:19] Are you one of the 70% of Americans living paycheck to paycheck and tired of the stress if so I understand as I used to be in that 78.
I start investing 2003 with my net worth with -80 thousand.
Since then I’ve built a business that generates over $500,000 a month in income and allows me the freedom to do what I want I’m Brad Chandler and I tease people just like.
How to find Freedom through real estate investing using a tactic that doesn’t require credit or tons of cash for a free training on how you too can do this please visit Brad channel.com for freedom.
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[29:23] Hey we’re back I’m Rodger Blankenship and I teach people how to make money in real estate today were talking about.
Your business as a garden and I’m just using it as an extended analogy here and we were talking about weeding your garden
they are weeds are the things that choke out the Harvest and Destroy productivity and reduce your fruitfulness
so as we weed our garden were talking about dealing with problems dealing with the questions and objections and resolving the impediment said.
Just getting in the way of our own success know when it comes to weeding a garden do you need to weed often why because the little weeds are easier to get out
boy if you like some crabgrass get growing in there and you try to get in there and pull that it’s just making your life a lot more difficult if you get the weeds while they’re little my dad taught me this if you get the weeds while they’re little they’re easy to Jehovah and move and remove so.
You have to weed often and when were we eating our business off and I think what we need to do here as we need to conduct frequent reviews now.
I see reviews in two ways.
[30:35] One thing I am going to call this windshield weeding that is to review our plans and forecast in light of what we’ve been doing let’s take a look at what we had forecast in what we have planned and.
I think it’s a cop-out to revise our goes down word simply because it doesn’t look like we’re going to make them I think that what we need to do at that point is
then jump on in and work even harder to get to those big old goals that we set for ourselves and then we learn to set more reasonable goals as time goes by.
[31:07] When I’m talking about reviewing our plans and forecast let’s take a look at where we’re heading then are we still heading where we intended to go are we on course.
[31:17] Do we see the the end in sight are we are we
getting there and if not what do we have to do to get where we want to be or is it true is it possible that where we thought we wanted to be isn’t where we wanted to be at all or maybe it’s a little bit to the right or to the left of that but maybe the target is changing.
Because we do grow older we get more perspective we mature we change and some of the things that we thought we wanted,
you know 15 years ago we don’t want now and some of the things that we thought we needed 6 months ago we’ve learned that we really don’t need them and so we can move on and we can.
[31:53] Revise and review this is a part of weeding,
The Garden of our business and then there’s the rearview mirror weeding which is where we review the results
nail specifically in my own business when we sell a property and we finished all the paperwork and and you know everybody’s been paid off and it’s all done we conduct a little
of the property now most of them kind of go the same way so there’s not a whole lot to do it’s a pretty brief meeting but we make sure that we have reviewed the results and if there’s anything to be learned it goes into the Hop,
and we try to do it differently next time you want to know why if you’re part of the flipping America mentoring program Wii U
get such long checklist of everything that you need to do at every step along the way once because we’ve been conducting this type of rear view.
[32:49] The rearview mirror weeding for years we have been evaluated what we’ve been doing and learning lessons from day one from Project one all the way to project 800 we have.
Notes about what we’re learning in sometimes we made a mental note But Here recently over the last few years we’ve been putting it all down in writing and and improving our practice and.
Maybe getting better at this Garden okay so after you have done some.
Weeding and you do it often you start learning to automate this weeding you know where we finding our processes and eliminating in efficiencies.
[33:31] I remember getting on my hands and knees and pulling weeds in the garden now. 2 acre Garden.
Is especially for a little kid and we were like 8 9 10 and 11 year old you know we were working in this Garden that 2 acre Garden is massively huge it’s like the end of the Earth,
by the time you get to the other side of the garden and we will never get to play with her friends because we’re out here pulling weeds in this Garden that’s what it seemed like,
and wear on her hands and knees and we’re pulling weeds out from under the green bean plants and over and over again and,
I spend a lot of time wondering why couldn’t the the plants we wanted to be the ones that grew like weeds and the weeds grew like the plants we wanted why didn’t have to be this way it seem like God was mean for making it that way
well we get a little bit bigger and we learn to use a hoe and then we get a little bit bigger and stronger
and I came home one day as a freshman in high school and discovered my dad had brought I was told my dad had bought a new machine.
[34:36] And it was a a harrow for the garden and I didn’t know what a Harrell was and to be honest I still don’t really want to know that much about them but this was a one-wheel harrow,
and it’s the only motor that comes with the Harrow is the motor in the heart of the person who is pushing it,
imagine a couple of wheelbarrow handles a little bit higher and there’s a wheel out there and behind that wheel there are three times like a rake and so if you dig those times into the ground and you push that wheel.
With those times dug into the ground it will break up the soil and that will basically unroot.
[35:17] I just made up a word they will unroot the weeds and if you get them while they’re small enough it’ll just go right through them and pull them up and won’t give him a chance to grow it looks pose those reach the air and that’s how you can weed.
Rows of corn very quickly and so we had a one-wheel heroin and that made the weeding a lot quicker.
And where it gets even better is if you have a garden that’s big enough to justify the use of the tractor and then you could just sit up there in the tractor and in a nice comfy.
You just watch what you doing try not to run over your own the plants that you want we never got that far with our garden because you know we weren’t doing this professionally we were just growing you no food for our own family but.
If you kind of look at this as at your business.
[36:07] The one wheel Harrow stage right when we begin the hand pulling is like paper and pencil monitoring
I have boxes and boxes and boxes of files of properties in when we started the files were pretty random and in time because we wanted to improve we got kind of a system to how we kept the files and so got
more organized but
as time went on we move beyond that into scanning everything and not even keeping the paper records so we don’t have to have boxes and boxes of things anymore we just have hard drives and backups and redundant,
back up she know so we’re improving and getting a little bit better in
and after a while we took some of the things that we were figuring out on pencil and paper with a calculator and put them into a spreadsheet and that’s kind of like the one we all hair all we got better,
but now we’ve got apps we got scanners we’ve got technology we’ve got to all kinds of things that
even 15 years ago when we started we thought we were in a technological era in 2002-2003,
the technology has increased so rapidly there are so many different additional things you can do now it’s important to stay on touch.
[37:20] In touch with all of that not for the sake of the technology that’s great for people who are all into that but for the sake of refining the way that we do our business and getting better at it,
all of this is a way to automate the process and improve our bility to deal with the weeds that are going to knock our business down.
[37:40] And then the last thing I want to say about the garden of your business is you have to water your garden.
[37:46] What is watering the garden of business I think it’s really just staying in touch follow up.
[37:55] Stay in touch with everybody that you talk to that well has any kind of a future you know there are some contractors that have interviewed that I don’t stay in touch with.
[38:05] Don’t depreciate the people that you want to be a part of your business and life in the future stay in touch with them now I want you to keep some things in mind.
People don’t want to be sold to.
[38:17] They don’t want repeated sales pitches like you I am on a lot of people’s mailing lists.
And I get information I also get sales pitches.
And I understand I am a person in a consumer to if you get hit on the Flippin America mail list you going to get a ton of information you’re not going to get many sales pitches why because.
When we’re ready to pull the trigger in the you know we’re going to go to someone that we know like and trust and I want you to be someone that your listeners in your friends and your potential clients or funding sources they know like and trust you already,
people don’t want to be sold to as much as they want to be heard and here’s another little interesting tidbit for you nobody really cares about your business goals.
They really don’t they don’t care what your goals are for your life you need to have them.
But you don’t need to talk about them a lot because no one cares everyone cares about their own goals now most people are not going to be so rude to say that,
well okay most people in the South or not going to be that rude I have encountered some people from Philadelphia and Norse word who would say.
I don’t care why are you telling me this I don’t care about this but for the most part people are going to be polite enough to not tell you that they don’t care but they don’t.
[39:37] And it may be.
That they are so used to trying to be nice or not even aware of how little they care about your goals but you’re going to lose their Interest really quickly when you start talking about your goals so instead listen to their goals.
For example when you’re trying to raise money you’re not talking to that person about how much money you’re going to make
please don’t ever do that what you’re doing is listening to that person about what they need to make what kind of return they need to get with their money and then your mind while they’re describing that you’re fitting that into your program.
There’s nothing deceptive or wrong that’s the right way to handle it because your meeting their need once they tell you what they need if you have a program that fits that then you have something here that we would call a good fit.
[40:29] And you can take it from me if you were listening to people you are watering the garden of your business.
[40:37] So once you have mastered that technique pour it on.
[40:43] Alright I guess it’s possible to drown your garden and over water it maybe but.
It’s very difficult over water so continue to water pour it on not for petted to sales pitches but attention and commitment to others.
Hey Facebook does a marvelous job of telling me when it when everybody is having a birthday
and Linkedin tells me when people are having a job anniversary our promotion or raise it just takes a minute or two.
To go through there and say congratulations LinkedIn even gives using a little things that you can just click on it gets really very fast and tiny little thick ways of staying in touch with.
And you stay in touch with people you don’t even really know for sure what it may ever come to it may never come to
anything in most of the time it doesn’t but does that matter of course not.
It doesn’t hurt to be good to people and do a firm people and make people feel good about themselves it doesn’t hurt at all ever so.
[41:49] This is your task going forward to think of your business like a garden prepare the soil.
Plant lots of seed fertilized cultivate the weeds.
[42:05] Water and then Harvest now a couple of thoughts about the Harvest.
The Harvest is a joyful time the Harvest is a time where you can anticipate all the eating you’re going to do the harvested it you know a lot of celebrations are around the Harvest and then many of the Fall festivals and so forth are celebrating the Harvest but,
I want to tell you that if you take care of the preparation the planting the the fertilizing the weeding,
and the watering the Harvest is going to take care of itself.
You don’t have to worry about the results if you do enough of the other stuff.
[42:48] The great thing is you get could you get to control how you prepare you get to control.
How often do you sow the seed you are in complete charge of your.
Weeding and watering and fertilizing programs all of these things are things that you can do and the good thing is.
Most of it doesn’t have to cost you a lot of money.
You can get your garden going and start reaping results later by just getting it going.
[43:22] All you have to do is make up your mind to do it start planting those seeds start doing the right things and the Harvest is going to take care of itself.
I will be back and wrap things up just a moment
not too long ago we did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event
his name is Peter Faulkner and here’s what he had to say about the event.
[43:58] Falkner here I send it a one day flip starter training session led by Rod.
[44:05] Amazed to see what has happened in Rogers Live from the last.
[44:10] Flipping over 800 houses in Mendes one day training he told how he did it and what.
Falls the blessings the benefits.
And how to do it and I was so impressed with how well organized and how smooth the training Wednesday you’re tempted or in courage to go.
Not a bad price.
[44:51] If your regular listener to the show I change things up a little bit today and I just jumped right into a monologue right at the beginning,
and because I knew that I wanted to talk to you about making your business successful and I was going to take a few minutes,
and I didn’t want to run out of time later on so let me give you the announcements things that we normally do right at the beginning of the show if you want to reach us you can reach us you can find us on the web at flipping American network.com you also can find us on Facebook.
[45:20] Flipping America media on Twitter and Instagram at flipping America for on YouTube we have the flipping America channel we’re on LinkedIn,
we are now on Pinterest I haven’t really figured out how to automate any post in Pinterest yet but we do have a Pinterest.
Account for flipping America and I think that we will possibly be
we always create a Pinterest board for the
bigger remodel jobs that were doing specially when we’re doing kind of one-off light fixtures and not part of our standard package and so maybe we’ll start sharing those boards with the general public
kind of talking about that internally but we are on Pinterest and,
some of you don’t want to reach us any through any of the online sources of course you could send your questions I need to say this you could send your questions to ask about real estate two questions at flipping American network.com do you have a question about real estate
we will answer it we answer every question that comes in some of them we answer on the show.
But even if we don’t answer it on the show we answer your questions we do this completely free as a service to you are listening audience and Friends.
[46:33] If you are out and I was going to say if you’re not in the computer thing you can call us at our national comment line 404-369-1018 if you want to leave a comment or ask a question just press
extension one so you just dial 404-369-1018 and then one you can leave your message your question.
[46:56] If you’re in the Atlanta area I invite you to come have lunch with me every Wednesday we do lunch somewhere every Wednesday and I think next Wednesday we’re going to go to Huey and or Huey Lewis at the corner of Abernathy and,
Roswell Road in Sandy Springs that’s coming up,
Huey luey’s but every Wednesday if you want to find out where we’re going to have lunch and you don’t have the show Handy all you have to do it anytime is Go to meetup.com flipping Atlanta and join the group and you’ll get notified of.
Where our next lunch is going to be we’ve had people from all over the US and several countries who I happen to be popping in I don’t know how they find out about us but it’s always a thrill
when people from out of town come by and say hey heard the show want to come have lunch it’s it’s fun I we had 28 people at lunch the last one we did
which was just yesterday and so it’s a good time talking about real estate.
The flipping America app is in the App Store it’s free there are no in-app purchases or upsells it’s completely free all the time you can listen to the show read the show notes
and we got the entire catalog of shows available to you now all this is show number 156 and they’re all there it’s a free download.
[48:13] You want a quick analytical tool to tell you how strong of potential Fix and Flip deal is we got a free download for that in the App Store it’s called property grade you answers 10 simple questions about the property and the app,
instantly tells you what you can expect to make you return on investment you return on cash and then the program or the app gives you your project a letter grade using our proprietary flipping America investment property grade algorithm.
Okay let’s have a quick review of the news.
[48:49] All right I’ve got a few stories we’re not going to get into a great amount of detail on any of these but
I picked up a story from Forbes on rent control and what it means for the real estate Marketplace I’m always interested in brain controls and I’ve wondered about it for years I’ve never lived in a place that had rent controls
but I always as a rule in as a principal get concerned when the government feels like they need to help set prices.
This is the beginning of the erosions of free market and capitalism however I don’t really know.
Exactly how I feel about this because it would be completely unaffordable for people to live for regular people to live in places like Manhattan maybe that’s as it should be I don’t know,
I’m choosing to just kind of hold that one out there and really not have to resolve it because it doesn’t necessarily A relate to me or 99% of the people that we deal with.
I picked up this story out of Austin. Culture map.com.
And where we get these stories is always a little bit of a mystery to me but we’ve got a great research team here there is going to be a tiny homes convention can you believe it.
They hold tiny homes fad is really what it is it it mystifies me because I tell you.
[50:16] A tiny home that is built to look like a tiny little house and they put it on Wheels and they take it somewhere is just a different version of a recreational vehicle.
Which is a tiny home on Wheels the difference is the RV looks like you know in aluminum box it wasn’t ever made to look like a house the tiny homes have.
All or fewer of the same features often less space,
and they put them on Wheels and they move around and it cracks me up to see these commercials on HTV for the tiny home things that yeah we could put it on Wheels and we move it anywhere we want to go.
Yeah brother you can go camping anytime you want I don’t understand it now.
If somebody wants to live in a small space that’s okay I understand my wife and I just recently downsized and
I wasn’t really sure how I would like it and I missed a couple of things about the big house but you know what and we’re enjoying it and we really like the location and we like everything about living in the city and so it’s,
it’s worth it for us but I promise you we didn’t move into a fancy fad term for a recreational vehicle you know home on Wheels in fact I think that Jeff Foxworthy has some jokes about the,
you know you might be a redneck if.
[51:39] Do you help your Rich Uncle get the wheels out from underneath this house that I don’t know enough that.
[51:47] I got an interesting story about a Seattle startup called flyhomes.
Founded in 2015 but they just raised 17 million dollars in funding to what they want to do is they want to make everybody look like a cash buyer now at the article actually says they’re going to make everybody a cash buyer but that’s not really what they’re doing.
What they’re doing is after they pre-screen home buyer they put in an all-cash bid to the seller.
To give them a better chance of winning the bid and then they allow the seller to move out when it’s convenient in town within 60 days then fly home is resells the home.
To the original in interested buyer after the standard closing. Which can be 30 or 45 days.
Now here’s the address Ting thing flyhomes collects the standard buyer’s agent commission usually about 3%.
[52:39] So they’re making a 3% return on their money.
Let’s say 60 days at the outside a 3% return on their money in 60 days means that they could turn that over.
6 times a year so that’s an 18% return on their money.
Would you like to make 18% return on your money this actually sounds like kind of a pretty good idea and maybe.
They make a little bit better than 18 because not everyone’s going to take 60 days to move out that’s at the outside so this is fly homes and.
They are in Seattle you might see another version this coming up in Atlanta sometime I like this idea.
[53:24] There’s a company called homebay out of San Diego that just bought a title company called Untitled.
And homebay is a realty company that charges a flat fee and they’re looking to expand what they’re doing.
To offer flat fee services in Florida-Georgia Illinois Texas Colorado and California and the company is about to grow again.
So by providing the flat fee Services they claim that they are able to save money for the buyers of the houses and I
I know that flat fee arrangements are around and I’ve actually enjoyed the benefit of a flat fee arrangement with my broker for many years.
But when we first did this it was him trying to get market share and him also recognizing that he would get 50 to 80 houses a year just from me and my team.
[54:16] Now the flat fee idea is becoming known and staking off and I wonder if it is the way of the future.
Whatever it is a professional realtor who does a good job of selling my house whatever it is they charge
I’m probably going to be willing to pay,
and people object sometimes to the 6% of the 7% and look let’s not get all worked up about this folks a good realtor is going to earn their money,
and even in a market like this where it’s easy to sell a house,
a good realtor is going to do a better job of getting it to the closing table then one that is not so good and so you want to find a good realtor and you want to pay them you want a good realtor or,
half a dozen good Realtors on your team that’s what you want that’s what you need,
keep on going till you find them and if they adopt a flat-fee model fine they want 6% fine if they offer you 5% fine
if they off if they say well it’s 7% then I don’t really know because we can find good Realtors that’ll do it for 6% so that I guess there is a limit,
to what will pay but the point of it is having a good realtor is worth within reason pretty much whatever they want to charge.
[55:31] Is flat fee the way of the future I don’t know flat fee has been coming on for a while it’s gaining momentum will they be able to supplant the commission model I am not going to venture prediction on that if they do it won’t be anytime soon.
[55:47] Leslie today I’m going to share an article with you guys from Forbes.
That’s a list of the largest real estate companies in the world and it’s just for fun and out of curiosity I kind of wanted to see where Blackstone fit on the list,
but Blackstone was excluded from the list because they invest in other types of things besides real estate yes they have a massive property portfolio but they aren’t really known as a real estate company
the largest real estate company in the world is a group called Brookfield Asset Management out of Canada with the market value of 38.9
billion dollars American Tower Corporation in the United States.
Phones just cell towers and they are worth 61.3 billion Simon Property Group in the United States retail stores.
49.5 billion annaly capital in the United States.
Their identity portfolios 12 billion prologis owns warehouses and there were 34 billion link.
Reit out of Hong Kong 18 billion warehouser in the United States owns Timberlands okay 27 billion.
[57:03] Kushina are get get ya Cocina out of France owns residential in office space at 12.7 billion klepierre in fret from France.
Owns retail space 12.3 billion Westfield out of Australia owns retail and their valued at 14 billion Public Storage yep that’s the self-storage the mini warehouse people.
They had they are worth 36.8 billion avalonbay owns Residential Properties in the United States 23 billion General Growth Properties from the US,
retail at 19.7 billion vintage from the United States is a healthcare real estate company
and they’re worth 19 billion in Boston properties owns offices and they’re worth 19.2 billion so that gives you a little bit of an idea of the diversification of some of the largest companies are real estate companies in the United States and
I know that somebody listening to my voice right now intends to crack that
top list of the largest real estate companies in the world and I’m all for you my friend just not really my goal but I’m for you and if I can help you get there,
please let me know what I can do to help hey that’s all we have time for today I’m Rodger Blankenship will be back again in a couple of days teaching you how to make money in real estate.
[58:50] People often say that motivation doesn’t last well and neither does bathing that’s why we recommended daily.
This thought is from Zig Ziglar and is brought to you by the foundation for Renewal working together with communities to improve an impact lives find them on the web at renewal fund. Net.
And your contribution is both tax deductible and welcome in any amount will talk again soon.