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How To Invest In Real Estate In Multiple States
Joe: Hey, it’s Joe Crump. “Hey, Joe, how do I invest in real estate in multiple states?” You want to buy in as many states as possible. You want to expand, you want to grow your business. The best way to do that is to set up a system that allows you to work remotely. You want to be able to work from your home.
Joe: Now, we’re currently in a pandemic and it makes sense to work at home. So, every time I leave the house, and I’ve done this for years, I hate to leave the house for work. I know that whenever I leave the house I lose three hours of my day. I can be so much more productive if I don’t leave the house, if I can do this stuff remotely.
Joe: So, if you want to do this, if you learn how to do this remotely, then that allows you also to work in multiple states, in multiple areas and you can expand your business and you can grow it and scale it to any size that you want by using automation, by using outsourcing, by bringing other people in to help you with your marketing, you know, to bring in more leads and to call your leads, to call your buyers, to call your sellers, to do your admin work, to do your boots on the ground stuff, put signs in the yard, lockbox on the door, pictures of the property. You can really scale your business up.
Joe: The Automarketer was designed so that I can do that. If you go to PushButtonAutomarketer.com you can read all about the system and hear a bunch of videos about it and it shows you how it works. But essentially what it does is it brings you in leads and then it helps you process those leads, and drips on those leads over time and it allows you to build a team and have team members who can work those leads and you can keep track of your team members. There’s so many different ways that the Automarketer does the work for you. It’ll automate 90% of your business, especially if you want to work remotely.
Joe: The other 10% has to be done by a human. And you can get 9% of that 10% done by other humans than you. And then you can do the 1% which is basically keeping your fingers on the wheel, you know, making sure that the car’s going the right direction, doesn’t go over a cliff. And make sure that everything gets done. Looking at the reports, making sure that the money’s coming in, those types of things. Giving direction, maybe doing a little bit of training. Helping people do what they need to do in order to succeed as your employees. And then you can work with them as hourly employees which is a lot cheaper than working with them as partners. Although you can do that, too, and I’ve talked about that in other videos here.
Joe: So, it’s not hard to do this in as many states as you want to. I would suggest when you’re first getting started to work in your own backyard. If you’re working in a high end market, I would suggest that you work in a high end market and a lower end market, maybe $150,000 average price range, maybe in the rust belt or the sun belt or the Midwest or wherever. Some place where you can – or even if you’re in California and you want to work in a cheaper area of California. You can do that as well.
Joe: Because sometimes it’s a little less intimidating talking to people about cheaper properties than it is to talk to somebody who’s got a $600,000 or a million-dollar property if you’re working in LA or if you’re working in New Jersey or some of these other places that are more expensive. So, you might want to work in two areas just to get started so you can learn how to talk to these people.
Joe: But once you learn how to talk to these people, then it might make sense to start expanding. And if you find, hey, I don’t have enough leads to call, you can expand the leads by expanding the area that you’re working in. Say you only want to work in a very small little area. You’re only going to have a few leads. But if you expand that area, you’ll have more leads and more leads and more leads until it gets more than you can handle.
Joe: And you want to call more than the people that just tell you “yes.” So, when you use the Automarketer, it’s going to go to craigslist, it’s going to go to Zillow and it’s going to scrape ads of people that are selling their homes For Sale By Owner. It’s then going to send a text message to those people saying, “Would you consider selling your home rent to buy rather than selling it outright?” And those people will respond. We typically will get between a 5% response rate to everybody we send to all the way up to 80% response rate. And typically I’m seeing about a 20% response rate across the board, if I average it out. Maybe a little higher than that. In some areas we get terrible response rates where we get 2% or 3% response rate.
Joe: But, if you look at direct marketing, direct marketing, if you get .5% response rate to your marketing, you’re doing fantastic. So, we’re talking 5%, 10%, 20% response rates. Now, out of the people that respond 80% to 90% of them are going to respond to a text message to say, “No. I’m not interested.” And then the other 10% to 20% are going to say, “Yes,” or “Maybe,” or “Tell me more about it.”
Joe: Those are the people that you call first. Then, second, you call people who say, “No.” You say, “Here’s what I’ve got. I just wondered why you weren’t interested.” And you go through this dialog with them and there’s training in that program that shows you how to talk to them. And then you talk to those people. And then after you talk to those people you call the system leads. All the leads that were scraped and put into the system and were created as leads, but were created as what we call system leads. And you put them into the Auto Dialer, or the Power Dialer, which makes it easy for you to call through, click a button it goes to the next one, click a button it goes to the next one, click a button it goes to the next one, click a button it leaves a message because they didn’t pick up, click a button it goes to the next one. So, you can keep going through that list and get through it very quickly and talk to everyone.
Joe: Because you’re lead conversion rate will go way up if you talk to more people and having live conversations is very valuable. So, you’re picking the low hanging fruit first. People who say yes. People who say no, second. People who respond so you know they’re real people. And then you’re picking everybody else using the Power Dialer which is going to be the other 60% to 80% of the people that were scraped, the leads that were scraped and you’ll be able to get through all of them in a fairly short period of time.
Joe: And then as you need more and you just expand your list so you can talk to as many people as you want. So, this is how you scale a business. And you can absolutely build a phenomenal portfolio, a phenomenal flip business and you can have as many people working for you as you choose because the system is set up so that you can have as many team members as you want without paying more to have those team members use your system and be able to give permissions to those people just to the modules that they need to have access to, just to the leads that they need to have access to and nothing else so they don’t become your competition.
Joe: All right. I hope that helps. Subscribe below, hit the bell and it will send you an email every time I put up a new video. Go to JoeCrumpBlog.com and sign up for the free newsletter. Go to ZeroDownInvesting.com and check out my six month mentor program where I teach people personally how to do all this stuff.
Joe: All right. I hope that helps. Good luck.