It’s all over the news, nearly every day. Real estate broker murdered…real estate investor, missing, feared dead…Agent stabbed in parking lot…Real estate investors, both men and women, are in far more danger than most of us realize every day, and a single, simple decision could make or break our safety and extend – or end – our lives. The decision is not what you think it is. I’m Carole Ellis. I’ll tell you the key to saving your business – and your life, today in Episode 9.
You might be shocked to hear it, but a simple change in your business philosophy could literally save your life. Perhaps you remember Beverly Carter, the Arkansas real estate broker who was murdered over a year ago and whose (now convicted) killer said at the time he targeted her because “she was a rich broker and a woman.” Or perhaps you’ve been watching more recent media coverage of disturbing events such as the unexplained disappearance of Arizona agent and investor Sid Cranston, who left to show some properties, alone, last June and never returned or the stabbing death of a North Carolina agent who may or may not have been meeting a potential client, again alone.
While it is easy to say, “You should not meet clients alone, whether you are a man or a woman,” the reality of the matter, we’ve discovered, is that real estate investors and other real estate professionals often feel undue pressure to accommodate their clients and potential clients when it comes to meeting times, locations, and circumstances. I cannot count the number of people who comment regularly on the blog that they have to, to a certain degree, rely on their faith in human nature when they are investing because they just can’t always take a companion with them. Many of our readers and listeners, men and women, report carrying guns or other forms of self-defense, but even those sometimes are not enough. Finally, just about everyone at least calls another person at this point, often in front of the client, to make it clear that someone knows their whereabouts, but the truth is that a 15-minute window, as too many families can sadly attest, is more than enough time for the damage to be done.
So now that I’ve given you nightmares, let’s brighten up the scenario a little bit. In a recent interview with Colorado real estate “rockstar” Bill Twyford, who, along with his wife Dwan and his kids, have a thriving, nearly two-decades old flipping and rehabbing business that has recently culminated in a true “dream job” turning old mountain cabins into unique, luxury dream homes, I got a little bit of mountain-air wisdom about door-knocking that was so simple and yet, I’ve seen so clearly in our readers’ reports, so hard to implement, that I felt like it was imperative to share. I’m not even going to make you wait for it. I’ll tell you right now:
Always look for a reason not to do the deal.
Now here’s the thing: this advice is coming from one of the most detail-oriented, numbers-focused real estate coaches I have EVER met. Bill actually broke down for me in our interview (which you can see in its entirety in the REI Today Vault, by the way) just exactly, by the day, phone calls an investor flipping in an average down with median-priced houses would have to make in order to make $120,000 in the next three months. Period. Make the calls, and do the deals. But that’s actually another podcast…
Anyway, because Bill still gets a LOT of his deals by door-knocking and he, his wife, and sometimes his son and daughter are all involved in the business and might be out looking for leads at some point or another, I asked Bill how they handle the growing safety concerns associated with real estate investing. He said, very simply, that they always look for a reason not to do the deal. “Here’s the thing,” he said, “if it looks like a waste of my time but it’s the only lead I’ve got, then I’m going to make a potentially bad decision because it’s my only option.” But if I’ve got ten more potential deals in the pipeline and this one looks bad – say the owner says he’ll be at the house alone, or he wants to meet after dark, or he is insistent that I meet at a certain time that I don’t want to meet, or he isn’t willing to commit to selling at a price that the local comps indicate will work – say any of these things, then that’s a serious reason to consider not doing the deal. If it’s the only deal I’ve got, then I’m going to get all emotionally invested and possibly make a bad decision and, at best, waste my time and at worst, end up in a very bad predicament. But if I’m willing to say hey, I just don’t want to do this deal because I KNOW it’s probably not going to work out, then I can be objective and not only do I keep myself safe, but I protect my business interests as well because I’m not getting emotionally involved in the deal. I’m keeping to the numbers and, if you do your numbers right, they just don’t lie.”
And if you’re wondering about Bill’s numbers, then rest assured, you can get a good look at them very, very soon. Bill and I did a great interview and he exposed some really interesting mathematics that I know you can put to use right now to add zeros to your bottom line whether you’re on your first or your 500th deal. We’ll talk more about that next week, but for now, if you want to read the entire interview, head on over to the REI Today Vault to get it right now. Not already a member? You know what to do: Get your access by texting REITODAY no spaces, no periods, to 33444, and I’ll provide fast, free access to that entire interview as well as 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, and be sure that you keep an ear out for our next episode. We’ve heard some nasty, nasty rumors swirling around about a certain housing market, and you probably have money there whether you KNOW IT OR NOT. Creeped out? You should be. Don’t miss it and, REI Nation, remember this:
Your best investment is ALWAYS 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.