How would you like to INFILTRATE the country’s HOTTEST REAL ESTATE MARKETS and immediately get started leveraging those thriving economies without wasting days, weeks, months, or YEARS “putting in your time” first? If you can’t resist the boiling-over markets like Denver, Colorado or just about anything on the West Coast, then this episode is one you can’t afford to miss. I’ve got the proven secrets (delivered straight from a real, live Green Beret who’s been working in these markets for more than a decade) today. I’m Carole Ellis. This is Episode 7.
So before I introduce you to my friend who likes his markets hot, I’ve got to mention something else that appears to be “boiling over” – and not in a good way – that you need to be aware of if you install “smart” appliances in your investment homes or if you’ve got any of those cool-but-creepy devices in your own personal castle. Rumor has it that one of the most popular (and most potentially profitable) smart-home startups out there (purchased by Google a few years ago for $3.2 billion) is having some, well, let’s just say “domestic issues” that are causing its devices, according to some users, to “go beserk.” You need the details before you install this stuff in your home or any investment property, so head on over to our News and Networking Section at REI.Today to get all the details.
Now, let’s get back to infiltrating those hot housing markets with military precision. First, I want to tell you about my friend, David Corbaley. He’s a former Green Beret who spent a decade in the military and then another 7 and a half years as a firefighter. You want a hero? Here he is, and David, we are so grateful to you for your service. David presently lives in one of the hottest real estate markets in the country, Boulder Colorado, and he basically fired up his real estate investing business in that area less than a year ago when he moved there. He told me in our interview, which you can read in its entirety in the REI Today Vault, by the way, that when he quit firefighting, all his friends said he was crazy, “but they don’t call me crazy anymore,” he said. David’s thing is going into markets where normal investors might fear to tread and literally unlocking deals that no one else knows about.
You know I love a secret, so that was my first mission when I talked to David. I wanted to know exactly what those deals are (and where to find them). He disclosed to me that the key to finding real estate deals in a hot market is to locate sellers who may not even know that they are sellers yet using highly specialized ads. You’re probably familiar with David’s favorite ad venue, Google’s Adwords, but you may not realize that using a certain combination of words in your adwords can not only keep your advertising budget down, but dramatically increase your returns. David told me that these words are the key to finding the right motivated sellers – the UNDERCOVER SELLERS – that no one else is reaching.
So what does REI Today’s favorite Green Beret-turned-real-estate-investor do once he’s got those leads? Well, he used to flip the houses. Now, however, he’s turned his machine into such a fantastic lead generator that for a lot of other investors he is, in his own words, “the only game in town.” He takes those undercover motivated sellers and their properties and wholesales them right away to a select group of equally motivated investors active in those hot markets. “My favorite deal is a simple flip,” said David, adding, “You find a property that is maybe in a little bit of a negative situation where it might need to be cleaned out. It might be dirty. There are so many reasons that people sell when they just want to be done.” He told me that a lot of times, those properties can be had super-cheap because of the seller’s mindset, not necessarily because the property is in horrible disrepair. Then, he can flip them to another investor or, in some cases, an end buyer who really wants a home at a discount in a hot area.
So now, let’s get to what you’ve all been waiting for: David’s Top Three Hot-Market Infiltration Techniques:
First, he loves the internet, and he loves Adwords because it lets him reach any market he wants within minutes of deciding it’s a target. It let’s sellers find me “on their time, when they want me,” he said, noting that most people turn to the internet immediately when they are ready to take action. He compared it to looking for a salon or a grocery store or a mechanic – when you need one, you’re going to pull out your phone or your laptop first. Next, David does leverage direct mail on a regular basis, although he warned that this option can be exasperating because, “90 percent of that mail is going to fall on deaf ears.” The other 10 percent, however, are really good leads. And finally, David leverages something that no one else can: HIMSELF. “Tell people what you do,” he advised, noting that the rewards could pay off minutes or months later. And while you can’t leverage being David Corbaley, you CAN leverage being something that no one else is, YOURSELF, in a network that no one else has, YOUR NETWORK. “Talking to people is one of my favorite ways to generate leads because you talk so much over the course of a day you can build a massive network,” said David.
So here’s the lesson I learned here: UNDERCOVER SELLERS are the key to any market. Figure out the right words to find those people who may not LOOK ready to sell but are feeling the drive to do so, and you’ve found the key to your hot market. And while you’re probably familiar with a Corbaley favorite, adwords, there’s another HUGELY OVERLOOKED ANGLE in Google that you can actually leverage FOR FREE that will help you find those valuable undercover sellers in a way that no one else is doing. if you want to see a sample of how David does it, he’s given us access to such a sample (and I have to say, it’s pretty cool how easy it is) that you can view along with the full interview transcript in, you guessed it, the REI Today Vault!
it you’re not a member, then get your free membership RIGHT NOW by texting the word REITODAY (no spaces, no periods) to 33444 or visit REI.Today/vault and I’ll provide fast, free access to this powerful word and a lot more seriously insightful stuff that will make your real estate investing safer, faster, and more profitable. So just text the word REITODAY with no spaces or periods to 33444 or visit REI.Today/vault to get access now…
When you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country! Just text the word REITODAY with no spaces or periods to 33444 or visit REI.today/vault right now for your free membership.
Thanks for listening in. Be sure that you stay tuned for episode 8, where you won’t BELIEVE what CERTAIN LANDLORDS are being pressured to do. I’ll just tell you now, it’s a very controversial subject, and I know we’re going to heat up more than a few listeners when we delve into it. Landlord, tenant, homeowner, or investor, you do NOT want to miss this. So until tomorrow, REI Nation, always remember this: Your best investment is your OWN education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.