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Flipping America 569, Ad Words

Opening:

A wise man once said, “until you make a sale, you are not in business.” In our business we can’t sell until we buy and in order to get buyers we have to do some selling. One of the best ways to generate leads for your real estate business is about to rise up and tap you on the shoulder. 

Dan Barrett is joining us in a moment. He  is Head Nerd at AdWords Nerds, the world’s largest Google Partner agency working only with real estate investors. He’s managed over 5 million dollars a year in client ad spend, found hundreds of real estate deals online for his clients, and been behind extensive industry experimentation and original research. He’s worked with investors and companies like Joe McCall, Alex Joungblood, Tom Krol, 1-800-Fair-Offer, Investor Carrot, and more.

Dan also runs the Search. Click. Convert Bootcamp and the exclusive REI Marketing Mastery program, intensive online workshops where he personally helps a small group of investors automate their lead acquisition and dominate their local markets online.

He’s the voice behind the REI Marketing Nerds podcast – over 150 episodes strong with a 5-star rating on Apple Podcasts – and the AdWords Nerds YouTube Channel.

You can find out more about him at AdWordsNerds.com. 

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Listener Questions:

  • Martin, Valdosta, GA, “It seems that all the great deals are in a bad part of town. Is that true everywhere? How do I make any money there?”
  • Patty, Elizabethtown, KY, “Do you see the foreclosure market exploding?”
  • Brian, Simpsonville, SC, “Can you explain the difference between cap rate and cash on cash return? What should I be looking for when buying a single family rental?”
  • Sherry, Sebring, FL, “What are the key steps when buying a flip project in another town?”
  • Lynetta, Kalispell, MT, “We want to bounce back and forth between Montana and Arizona, you know, avoiding the weather extremes but getting in some skiing when we want, etc. We are both in our mid 50’s and our question is should we buy something in both places or just do longer-term rentals? We could pay cash for both places, but can’t help but wonder if our cash is better off elsewhere.”
  • Beverly, Villages of Ocala, FL, “Please explain the 1% rule for rental houses and why that is a good thing.”

Quote of the Day

Today’s Michael Scott Quote:

“Sometimes I’ll start a sentence and I don’t even know where it’s going. I just hope I find it along the way.”

Expected Air Date: Monday 11/7/2022

Guest: Dan Barrett

danielbarrett@gmail.com

Transcript

[0:00] A wise man once said until you make a sale you are not in business,
In our business we can’t sell until we buy in order to get buyers we have to do some selling.
Think about that for a minute. One of the best ways to generate leads for your real estate business is about to rise up and tap you on the shoulder. Here today on flipping America.

[0:20] Music.

[0:35] The show that teaches you how to make money in real estate wherever you are, whatever your situation, there is an opportunity for you. And now, here’s that flipping America guy, Roger Blankenship. Thank you, Kathy Curtis and hello, America.
Dan Barrett is gonna join us in just a moment here’s the head nerd at,
The world’s largest google partner agency working with real estate investors only he’s managed,
They’re managing over five 1 million dollars a year in client ad spend
They have found hundreds of real estate deals online for their clients and then behind extensive industry experimentation and original work research is worked with like a
Who’s who list of all of the big names in real estate investing including,
Roger Blankenship and flipping America. I am Roger Blankenship your host and this is the flipping America show we don’t encourage everyone to drop what you’re doing and start flipping houses like you see on TV but we do.

[1:42] Consider real estate as a part of a balanced investment portfolio and to that end we intend to bring you all of the best news and information stats, methods,
Training,
Well we’re online at Flipping America. Net we’re on Facebook@Facebook. Com slash flipping American media you can follow us on Twitter and Instagram at Flipping America on YouTube just look for flipping America
If you wanna get our weekly newsletter text the word wit WIT to this number 205858 flip,
That’s (205) 858-3547 you enter your email and you will be subscribed to the weekly wit which stands for whatever it takes
It’s a 5 to 7 minute read that has the weeks real estate and flipping america news and investing tip a joke and a blessing it’s usually,
A 5 to 7 minute read as I said and it has some optional links in there.

[2:48] I’ve got my book How to Put Skin in the game when you’re running thin on skin it’s for sale on Amazon but,
It’s free if you go to Flipping America. Net slash,
All lowercase,
Fixing and flipping properties.
Alright that little bit of music interlude means it’s about time for us to welcome Dan Barrett.

[3:28] Music.

[3:40] Dan Barrett welcome to the Flipping America show.
Yeah, thank you for having me, man. I am super pumped to be here for you. Yeah, yeah, and I’m I’m excited to have you too because you know so much about stuff that I it’s it’s like mystery techno magic to me. The whole Edward’s thing. But now, let’s,
You know, let’s help our audience out. You and I have had the luxury of chatting for a few minutes but if we’re getting on an elevator and I say, hey, Dan, what do you do for a living?
And explain add words and add words nerds to me in like 30 seconds.
Alright. Well, Edward’s nerd disease is enough. I say, Edward’s nerds is a high-tech digital marketing agency. We only work with real estate investors and even within that, we only work on generating motivated seller leaks. So, that’s what we do,
If you are an investor, you want more leads online. Basically, come to us and we help you do that.
Okay.
Or you’re doing search engine optimization right trying to get your site to rank higher in Google.
Alright. So, I’ve had a website up for a while.

[5:07] And.
It really doesn’t do anything. I know that there’s stuff that I need to do with it. But you’re telling me that you can help me and actually turn it into some actual sales. I started taking a course on SEO from you know our our good friend Trevor Mac over at Investor Carrot.
Yeah, I didn’t finish the course. It it wasn’t because it wasn’t interesting. It’s just because man, I have so many things going on.

[5:32] It’s on my list of things I’ll do one of these days finish that course,
Yeah, I always say it’s like you gotta, you gotta like it. You gotta enjoy it, right? Like I always say, like, I bought a riding lawn mower when I moved into this house cuz I was like, oh, I got a lawn. I can mow the lawn.
And I still paid this dude like 10 bucks to come on my lawn because it’s like I just I just realized after doing it twice it wasn’t my thing,
So, no, no shaving that at all but I do say even if you just learn a little bit about it, it is helpful, right? Because to know a little bit of the lingo, a little bit of how the,
The industry works that helps you hire people, helps you avoid mistakes. So, I don’t think it’s wasted time at all. Yeah, I I agree with you. I wanna know enough about everything that’s involved in all of my businesses. So, I can make a better hiring decision
And then pay somebody else to do it. Yeah.

[6:30] To use our service particularly no because we’ve got people on our team that build websites in landing pages for folks so like you know we have clients that come in all the time that don’t have a site yet or you know aren’t decided,
Who they’re gonna use to build their cider whatever. So, we can build them a landing page. Basically, place to send traffic
Right so that’s not a problem
Any you know there are variety of options for investors today it’s it’s never been easier as you have people like investor care,
A companies like REI Black Book,
You know lead propeller all these these companies that have out of the box sites ready to go so while you’re looking to do is get something quick and dirt I mean quick and dirty it sounds bad but something quick,
That you can get out easily
All those companies are gonna work just great or we can build something custom for you, right? So, some people want something really specific or they want something else can be really different from their competition. That works great as well.
Yeah. Well, you know, if you go to one of these sites that where you have a template.

[7:47] Hey Facebook it depends on your market a little,
Every single person on the first page of Google when you do some kind of search for a motivated seller search for him is gonna have,
Investor care. Right, that’s that’s something to happen,
And I always say like only easiest ways to do that is,
Put an actual photo of you or whoever is hits her in the phone for your company on the website and say like hey you’re gonna talk to Denise you’re gonna talk to Roger you’re gonna talk to Dan like,
Personalize your business and that goes a really long way to.
Alleviating the anxiety that I think a lot of truly motivated sellers feel right before they’re gonna pick up the phone and call them.

[8:42] Right? It’s like it’s like basically like inviting. I’m not saying this reality but this is how they perceive it. It’s like inviting a used car salesman to your house. Like that’s an apparent decision.
The more you put them at ease the easier it is for them to make that decision and I think like smiling human faces knocks doc photos let’s go a long way you know what I mean,
So, if I came to you Dan and I said, okay, I have a new investor. I don’t have anything. I need you to set me up. Are you going to build a landing page? Are you gonna build,
A website.
Yeah. Okay. So, totally depends, right? So, I am a big believer in the the idea that there is no one size fits all strategy for every single investor. I don’t think it exists. Everybody is.
Budgets and goals and tolerance for risk their market all those things affect what is the smartest decision for you and and what is right so I would say like there’s no one size fits all but let’s say you’re like hey I just wanna run at.
All you really need is a landing,
We’ve built all the forms and stuff set that all up we hook it up the people’s back end systems and CRMs and and all that stuff right we do.

[10:09] Hey Facebook.

[10:14] If you are saying hey.
Sooner or later you’re gonna need a website,
Right you’re gonna need a legit website multiple pages you can put content on like it’s gonna be if it’s gonna be a thing you’re gonna invest in,
In might as well get it out of the way. So, we do that for folks or you know, like we’re care of partners. We refer people to carried or are you a black book or all those other companies all the time.
To me it doesn’t so much matter what the software is what matters is how much effort an investment are you really putting into that as a marketing chip right that’s what makes the difference,
Rather than, you know, what version of the software is running underneath. If that makes sense. Okay. So, can you tell me.
How.

[11:07] I mean what is what is it.
You know Edwards for dummies.
You wanna divide this universe this like google universe up and did the two big pieces which are SEO and PPC PPC is what we’re talking about when we talk about Google ads or Google AdWords it’s the same thing right there just change the name.
SEO is what you’re doing when you’re like blogging and getting links and you wanna show up high on google that’s SEO so we’re gonna put SEO to the side,
We’re just gonna talk about Google ads, Google AdWords, PPC, all means the same. To be very basic, SEO, search engine optimization, PPC, paper click.
Primary differences.

[12:03] Right? Yeah. So I think the advantage of doing google’s paid media channels. Their advertising channel is that it happens immediately. You could start generating leads and deals tomorrow,
If you list it up right, right? So, it’s fast. Of course, the downside is you’re paying for it. Like any other advertising channel,
Now the way that it works is you go into your Google Ads counts free to set one up and you basically say alright I’m gonna choose a set of keywords,
Hey basically topics that I’m giving google that I wanna tart right so classic example of a motivated seller keyword is sell my house fast
Right? But they wanna do it fast. That makes them motivated, right? So, okay, someone’s typing that in. I wanna show up.
Right so that’s kinda step one you’re choosing your keyword.

[12:55] For that click.
I wanna pay $10 every time someone clicks,
Every time someone types that into Google in your market where you set your target area just like anything else,
And everybody that wants that person everybody that’s targeting that someone has fast keyword in your area,
They they’re bids basically goats smash against each other I always say it’s like your Pokemon battling but it’s just your keywords and your bits right they go out together and let’s say I bid $10 and you bid $15.

[13:42] You beat me out.
So, your ad which is a little text ads says, hey, you know, I want you to come to my website and sell your house whenever it says, your ad shows up on top.
In my ad shows up in position number two that’s what the bids are determining who’s ad shows up where right let’s say we have a competitor a bit of dollar he might not show up.

[14:05] So, the strategy in Google ads comes down to a couple different things. It’s which keywords do you choose and based on what criteria, right? Certain keywords,
Have more volume behind them. People search them more often. Certain keywords generate deals more often. They tend to close more often. Right. Certain certain keywords generate more retail style leads. So there’s all that stuff. That’s stranded.
Then there’s your bid strutted.
How much are you willing to pay per click based on how those keywords perform based on how your competitors do one of the things that makes Google ads interesting at least to me and makes a difficult for a lot of investors to kinda wrap their heads around?
Is that because it’s a it’s a true mark it’s like the stock bark.

[14:51] You go over the stock market and say, well, I wanna, you know, I’ll pay 10 bucks for a share. Google, and then somebody else wants to pay 11 and you sell, you buy, sell, right? And those prices go up and down the change over time, sometimes mark as low, sometimes the markets high.
The exact same dynamics apply to google apps if i am in Houston the keyword sell my house fast is gonna cost me more than a than if I’m in like Wichita.
In Orange County is gonna cost more than or at least differently than Connecticut,
If I’m targeting the entire United States my cost differ quite a bit than if I’m targeting just a single zip.
Right so you have these different layers of strategy this different level these different layers of like competition and sort of bids that make google ads a little complex,
But the core idea is you pick the keyword you wanna target you set how much you’re willing to pay you only pay when someone clicks,
And that’s basically it. Does it make sense?

[15:51] And so this really doesn’t affect any of the privacy things you know when when I think about targeted ads and what’s going on with Apple and their increasing privacy concerns because these are people who are searching and clicking.

[16:04] You’re not you’re not interrupting their news feed on Facebook or something like that with the targeted ad.
Exactly, right? So, iOS update 14, I think, really was Apple stabbing Facebook’s ad platform in the back,
Right? So, they did a lot of damage to Facebook’s core attribution model. It’s basically how they attribute certain actions to your phone or your computer, whatever. Via one of the primary advantages that Google had,
Over Facebook in that,
That sort of event which it did affect them,
Basing their ad placement on your past behavior,
They are looking at what you are doing right now. You engage with google as an application. You type something in and then they show the app, right? So, it’s Google ads as compared to something like Facebook ads,
Has always been.
At least for me easier to understand clearer sort of more objective data.
I name my company average nerds I clearly am biased so you just take that with the grain salt but that’s the one I prefer alright then we gotta take quick break and when we come back I am going to subject you to the round table of random question.
I like.

[17:30] Music.

[17:38] Hey, are you ready to learn this business for real.
It includes 25 home study courses inclusion at all weekend training events for life group coaching calls for life and monthly one on one calls for a full year,
Invest in yourself and be a part of my flipping America family for life flipping America. Net forward slash.

[18:09] We’re back I’m with Dan,
I I tried to,
Feature services and and ideas and and industries that I like and wanna use so you know we’re you and I are gonna be talking a little bit more I’m sure,
The round table of random questions and some of these are little business related. Some are a little bit more personal but the ground rule is you’ve got anywhere from 10 to 30 seconds to answer each question and we don’t need a whole lot of explanation.
Okay? Alright. Okay. Alright. Let’s do it. Number one, how does the general economy affect your business?
The general economy affects my business in the sense that as competition among investors goes up or down the average pipe price per click goes up or down in google ads,
And does the housing market declines or expands,
Okay. Side bar question not related to the random round table. As far as your pricing is concerned, do you?
Do you charge a flat fee or do you charge based on the dollars spent by your people,
We do a flat fee.

[19:37] My goals for my clients has been as little as possible while hitting their deal float. Okay. Alright.

[19:43] Question number two.

[19:48] Man, I wanted to be a teacher.
And I want tour in a band and I was I did not think I was gonna be a successful musician but I was like if I teach then I can tour in the band on the summer and I like teaching so that’s what I wanted to be when I graduate.

[20:07] Did you.

[20:09] I was very briefly a teacher before I moved full time.
Well,
I did my student teaching in elementary school then i taught high school and junior high and.
So that’s the that’s the job I really wanted was college professor I didn’t think that’s right. I’m very jealous. What subject did you teach?
Hey Facebook.
At Eastern College in Philadelphia. Yeah.

[21:00] If I could have dinner with anyone from history.
Marcus Aurelius,
Yeah. That’s an awesome answer.
Thank you. Hi, I did not know I was gonna say when I open my mouth and that was fun.
What role does creativity play in your business.

[21:41] Yeah,
Mostly because i am always having to pivot and innovate based on what is happening either in the market or with the technology,
Number five.

[22:05] The one that I watched most closely is National Search Volume for sell my house fast and we buy houses and I watch the national average cost per lead. For those keywords. To me, those are,
Bell weathers of how the entire market and the channel is doing. Alright.
Talk about the impact personal passion has in your life and business.

[22:36] Pass an interesting question. So, my personal passion is,
I love to learn and I love to apply what I learn from different industries and fields to what I do.
So
I will be reading about theory of constraints or complex systems theory and then turning around and saying how can we use this at AdWords nerds.
And then I will pivot to the last couple months I’ve been reading about cycle analysis and sigman fraud and asking how can i use this and afterwards nerds I mean it just is it’s what keeps it fresh and interesting,
Like that is what makes business fun. So, it impacts me a lot.
I’m gonna tell my WiFi i think i met a bigger nerd than me.
Automatically look like a nerd but,
This fatal conceit.

[23:49] This is just your me talking now but anybody else on the show that’s listening this wants to read it,
And let me know what you think about it. It’s a tough read but man, it’s it’s life.
It’s life changing and it’s an although it’s written 60 years ago it speaks to what’s going on in with some of the,
Did they say this photo could sit there with the with the economic and the sort of the resurgence of interest in socialism.
Yeah. Alright man. Alright. I will read it. Okay.

[24:28] Really just a question. I said, yearly targets and quarterly goals.
Very good. That is my kind of rhythm there. Alright, number eight, if someone walked into your office and said, I wanna get started doing what you do.
I would say the first thing you need to do is just start spending your own money on ads.
So that is the thing the putting that skin in the game will teach you more about running ads and online marketing than anything else will.
And the thing that I would say that you also want that almost no one in this industry has.
Is a basic. It can be very very basic.
The problem that most people run into is it’s all about the numbers but very few people understand how numbers actually work and how to use numbers in their daily lives. So, it’s one of those things where I’m terrible at math. I’m not a math person.
But I have a basic understanding of how statistics work and that has been a huge like up for me.
Okay we gotta pick up the basil a little bit. Number nine.

[25:52] Whoa,
Okay. Well, you’re you’re just a young guy. You’re not really thinking about retirement yet.
If you were picking someone who is alive today to model your business after who would it be?

[26:17] Alright. There’s a there is a guy out there. His name is Dan Nicholson. He runs a CPA firm called F Degreasy Piazza. One of the smartest dudes I have ever met when it comes to.

[26:32] Very analytical drive to his business and very very good at controlling risk. So, if I could be more like anyone in business today, that’s who would be Dan Nicholson. Over 10° CPAs. That’s great,
Alright.

[26:52] I start each morning by being woken up by my sons and then walking downstairs to make coffee I make breakfast I get them ready for school and then about the door I don’t have much of a routine other than I take care of them,
And that’s a fun way to wake up man. I gotta tell you.

[27:13] And here’s the last question. Yeah. What does it mean to be truly wealthy.

[27:20] To me being truly wealthy is about.
There’s a rainer Maria Rilka quote I think he describes it as.
And to me that’s what it’s about it’s about you got you you really have to be pushing yourself to do as much as you can you can tell when that’s happening when you are failing.
And if you are failing forward or upwards in life I I don’t know if there’s much more you can do man that’s what it’s all about to me.
That’s awesome.

[28:07] The your website is Edward’s nerds and,
Yeah, you could jump on a call with our team. Basically, what we do is if you call, we’d learn about you and we basically say, alright, based on your market, based on your budgets, based on your wrist tolerance, all that stuff. Here’s the strategy that we would use.
You wanna just take it, use it yourself, that’s awesome. If you want us to help you with it, it’s great. But we also put a bunch of free stuff. I wrote a 40 1000 word.
Real estate investors guide to Google ads that’s free on there that you don’t you don’t have to put in your email and we’ve got you know we’ve got a podcast and everything. I would say like just go and learn and figure out if you’re into it. Figure out if it’s interesting to you. That’s the best way to get.
That’s awesome. I’m Roger. He’s Dan. His website is Edward Nerds.
Com and then thank you for joining us today. Thank you so much for having me man. I really appreciate it.

[29:06] And that’s all the time we have for today. So, I’m going to leave you with this Michael Scott quote in our Michael Scott series, Michael Scott from the office played by Steven Garrell.
Sometimes i’ll start a sentence and i don’t even know where it’s going i just hope I find it along the way.
Sounds to me like he could be in radio.

[29:37] You’ve been listening to flipping America real estate investing for everyone. Listen three times a week on stations across the country or on the flipping America app free in the app store,
Be sure to like us on Facebook find and follow us on Twitter and Instagram and keep your eyes open.

[29:54] Music.