What if you knew a secret GOLD STANDARD that would bring cash-laden, real-estate-loving, LOYAL foreign buyers flocking to your business? I’d say the short answer is, you’d be in business! I’m Carole Ellis. Today, I and my Aussie Insider (himself an experienced foreign investor in the United States), will reveal that elusive gold standard. This is episode 46.
Wouldn’t you like to have an eager population of buyers who trusted ONLY YOU to sell them properties, happily paid TOP DOLLAR for your quality deals, and returned time and again to make more purchases? Of course you would! Every real estate investor would! And today, one of the best real estate investors in the business when it comes to building those types of relationships with his buyers is going to tell us, step by step, how he did it and how you can do it to. But first, a quick mention about an insanely popular post in the REI Today Vault. The other day, you may remember in episode 41 we talked all about republican presidential hopeful Donald Trump’s HISTORY and ongoing legal battles associated with a former real estate education company that bore his name. Now, that was pretty interesting stuff, but what really got people going was the Trump Timeline we made available in the REI Today Vault. Honestly, we exposed a pretty big crack in one of the Donald’s main storylines, and it’s labeled clearly at the end of the timeline. Be sure to check it out at www.rei.today/vault and if you’re not a member, don’t miss this. It could affect your vote! Text REITODAY to 33444 right now to get access, and be sure to read all the way to the end.
Now, back to building that list of “magical” buyers…
So you might be thinking that the type of buyer I described a minute ago, motivated, cash-laden, and dedicated just to you, is kind of like a unicorn…you’re lucky to get one such buyer in your lifetime. But today’s guest, Australian native Engelo Rumora, who describes himself as “The Real Estate Thunder from Down Under” (and that’s just the start of it, folks, he’s also a partner at Ohio Cash Flow, a FLOURISHING real estate business in the midwest) has a huge, growing, thriving network of these investors, and he’s growing it all the time. Before I tell you how he did it, I’m going to let you hear a little bit about him in his own words…
Engelo told me:
“I quit school at 14 years of age and was fortunate enough to become a professional soccer player at the age of 18. Unfortunately, things did not work out there, so I was working labor because I couldn’t get any better job. I had no formal education. I was pretty much sweeping floors at dirty construction sites for a living, but while I was doing that I was reading a lot of books on personal development, business, finance, real estate, stock trading, all that stuff, and one thing led to another.”
Now while Engelo just says humbly “one thing led to another,” what this guy actually did is pretty amazing. He found a mentor in the person of a hundred-million-dollar-a-year businessman in Australia and, from there, made his way to the U.S. real estate market, where Engelo began leveraging his vast personal knowledge of construction and contracting and his ongoing real estate education to start buying properties at the very bottom of the U.S. housing crash. To this day, “we buy properties, fix them up to a great standard, and sell them to investors from all over the world,” he said, noting that in his experience, “Everyone loves Australians, and I’ve got to play the only card I have.” Engelo credits his unique rapport with foreign investors to his own experience as a foreign investor and jokingly suggested that the best thing an American real estate investor could do to work with international investors might be to fake an accent. Kidding, of course!
So are you out of luck when it comes to working with international investors if your G’day mate sounds more like mine and less like Engelo’s? Absolutely not! Engelo told me that the key is understanding differences in approach between American investors and international ones.
“I’m laid back, very casual,” he said, noting that it’s very important not to be “pushy or salesy” in this type of relationship. Just deliver content, lots of great deals, lots of great information. Tell them all about your deals, your process, and your business, but don’t necessarily push them to buy.
Next, take the time to actually connect. Engelo noted that international investors automatically feel more connected to him, in his experience, because (and this is a direct quote) “I lived in Australia, I bought properties here in the U.S., and I lost my (you-know-what) on them because I trusted the wrong people.” However, you don’t have to move overseas and lose your shirt to connect. Just be understanding, empathetic, and willing to listen about the RIGHT things, your potential investors’ concerns about their money, and respond appropriately, professionally, and empathetically no matter how trivial or silly those concerns might seem to you.
Finally, consider getting exclusive. Engelo built a business design to cater strictly to foreign investors, and the result is that when one investor experiences success, it’s easy to spread the word. After all, there’s no question about whether or not that success was a fluke because that’s all the business does. Do you need to write of all other investors? Maybe not, but having something that indicates you are particularly dedicated to international investors can definitely help you.
Now I’ve got to be honest. This podcast barely scratches the surface of everything Engelo and I talked about in our interview, and some of the content is, well, let’s just say that Engelo is not afraid to be himself, even if being himself offends someone or gets my podcast rating changed! You can read the entire transcript of the interview (fair warning: it’s unedited) in the REI Today Vault, and I HIGHLY recommend you don’t delay. Engelo has an incredibly insightful, no-holds-barred way of looking at real estate that you must not miss. If you’re already a member of the REI Today Vault, then head over to www.rei.today/vault. If not, then grab that phone at text REITODAY no spaces no periods to 33444, and I’ll provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, 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. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and 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.