2019 has passed its halfway mark and things may still be starting to get better for you or not. Scott Carson breaks down several things that you can do to get back on track in the second half of 2019 and how to turn that momentum into greater success in 2020. Setting or resetting your goals is a key factor to your success. You do not need to do 100% of your goals quickly because focusing on 20% can speak volumes. Sharing these goals to those who matter can give you confidence in finishing this year strong. Realizing that the hardest things to achieve are often those that will be the most productive, focus on those that matter no matter how hard they are. Follow Scott’s success plan and you’ll be on your way to closing your year right.
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Second Half Success Plan
I’ve got some great stuff that you will enjoy and a simple success plan for you, especially the second half. I know a lot of people are struggling with things. We’ll get to that. We’ll discuss some of those struggles, how to overcome those and go from there. We’re going to have plenty of questions and options for you. If this is your first time on this show, welcome. We’re glad to have you. I highly encourage you to subscribe to our YouTube account. We had a record month of subscriptions, 147 people subscribed. There are lots of great stuff on there. We upload all the videos from this show, along with all the podcast episodes as well. You don’t want to miss out there. You can also listen to these episodes on iTunes as a podcast or any of the different places that you listen to podcasts as well. I got some new numbers on some of the things we’re doing with The Note Closers Show Podcast. I highly encourage you to listen to that. It has become the flagship of what we’re doing now, evolving 480-plus episodes, 340,000-plus downloads and over four million listeners on AM/FM radio station networks across the country. I would love for you to go to iTunes to review and subscribe to the podcast. We have lots of great content, interviews, guests and vendors that we have on a regular basis. People are enjoying that.
We got all series of some of our Note Mastermind members on there too. They’ve been released. I highly encourage you to do that. I love for you to leave a review. You might get a call out if you leave a review and I might have something show up in the mail. If you want to leave a review, take a screenshot of it, email it to me and we may send you a prize, something that you’ll enjoy in your inbox. We have a couple of events that’s coming up. We had a great Fast Track Training in July 2019 with a great group of people. The next one is on the 16th, 17th and 18th of August 2019. Make sure you take the opportunity to get signed up for those three days of intense training. I love seeing the people that have gone to the Fast Track taking action and making things happen. They’re closer to success. They’re already making bids, already doing amazing things out there. It’s the last chance in July. Get signed up here before our next Mastermind event taking place in August.
Before we get to August, we do have our Note CAMP Commercial. A lot of people are interested in some of the different trainings that we offer up. Whatever asset class you’re looking at, mobile homes, hotels or mixed-use, we have a whole variety of things. Asset managers are going to be there. Vendors are going to be there. It’s normally $699 but if you go to WeCloseNotes.com or go to NoteCAMP.live, it will automatically drop 25% off and we’ve got some great bonuses to go along with it. Our next Note Mastermind is going to be in Houston, Texas. It’s on August 21st and the 22ndof 2019. That’s a little bit different. It’s in the middle of the week. It’s Wednesday and Thursday before the Quest EXPO. We’re going to be doing it in the same hotel as the Quest EXPO. We wanted to maximize people that are flying in. They’re only going to have one round of airplane tickets. You don’t have to stay for the expo if you don’t want to. Come in Wednesday and Thursday and then fly home Friday if you want to but I’d highly encourage it.
Quest told us they’d got 500 signups. It’s a great network opportunity for a lot of you. For August 21st and 22nd, we do have a couple of sneak peek seats if you’re interested in finding more about that and hanging out in The Note Mastermind group. If you’d like to get more information, email me at Scott@WeCloseNotes.com or shoot me a text message. It’s right before the Quest EXPO taking place at the Royal Sonesta Houston Galleria Hotel. There’s a three-day event. It kicks off at 9:00 to 6:00 on Friday and Saturday. On Sunday, we’ll wrap up at noon. I’ve got a great speaking line up. You can go to QuestExpo.com and check it out. Use the discount code if you’re going to sign up. It’s Carson19 to get 25% off of either your general admission or one of the few VIP tickets that they’ve got left available. They’re wrapping up early on Sunday so you can stay through Sunday and fly home Sunday evening out either at Houston Hobby or Bush Intercontinental Airport.
Focus On The 20%
For some of you who are having some good stuff or rocking out some things or you’re having success, this will probably be a little bit of a recap. For some of you who are struggling out there, I wanted to change some things up. I’ve talked with people who are like, “I’m hitting a mind block. I do not see the amount of success that I should be doing.” I want to go through that with you. What’s the best way that I can help you accomplish those things to have the most successful second half of the year? It’s been a busy year. Time has flown. The world is speeding up. It’s not quite passing everybody by, but it is rock and rolling in a very speed lane. What have you done lately? One of the things I have always found because we’re constantly looking back at this is we look at the Pareto Principle. 80% of your success comes from 20% of your activity. If you’re doing things, most of your success is going to come from a fifth of what you’re doing. It means that we’re wasting 80% of our time. You have to think about what does that 20% consist of for your deals? You have to look at where you’re finding deals, where the success of the deals are coming from and what are you focused on?
Where are you getting your deals from? Where are you finding and raising your capital from? What is being the most amount of success for you? All you have to do is look at that success rate. If 20% are active and in 80% you’re running around doing something different, either you’re wasting the other 20% of your time or you need to spend more time focused on that 20%. I’ll give you an example. 20% of the customers for any type of company usually end up buying 80% of the products or they fall in 20% of your clientele or your specific base fall onto it. You’ve got to realize that 20% of your activities equal 80% of your deals close probably. Think about that. If you’re doing email blasts out on a regular basis, you’ll probably find the deals. If you’re looking at other ways of doing it, probably 80% of your deals are probably coming from one source to fit your activities. If 20% of your marketing is working and it’s resulting 80% of your leads, what should you do? You should probably quit doing or reduce the other 80%, move that to 20% and increase the other 20% four times or five times. The 100% of what you’re doing is resulting in a lot more success. It’s one way to quadruple your success. If you quit doing all the things that you’re wasting time on or not seeing success in and focus on that 20%.
This is why Outwitting The Devil is so great. It speaks to that volume of, “If you’re ever being focused, you’re getting a lot more done versus drifting, losing yourself and falling all over the place.” We all drift. We all get things. There are times, as businesses evolve on a regular basis, a few changes take place in the industry for the last few years. When you get to think about a few years ago, what were you doing? You’re probably not in the note space. Does that mean you’re going to be in the note space in two years? I don’t know. That’s what you have to look at is how is a business doing? “I’m just here for a good time and for a laugh.” Grab your ticket, some popcorn and cold beer and sit in the stands. I know that many of you don’t want to sit in the stands. You want to be active and doing some things. You’ve got to figure out what you’re doing.
Email Asset Managers And Contacts
Here’s what I want to pull. I’ll run some questions here. I’m going to launch this to you. I’d love to try to get 80% of you to go and answer this question. How many of you have sent an email to asset managers in the last 90 days? Have you done it once, twice, thrice, four times, five or more? In the last 90 days, somebody sent it three times. If you’ve done it once or zero, put once. How many of you have sent an email to your investor contacts or database in the last 90 days? This is not your asset managers. I forgot to put zero on here. If you have never done it, put once down. Did you write down your goals for 2019, yes or no? Are you on track to hit your goals for 2019? “I haven’t even started. I’m not even getting close. I’m behind, but I’m building momentum and getting there. I’m on track. I’m having to increase my goals because I’m doing so well.” You’ve already shot through your goals or readjusted your goals. I don’t track. I don’t see the results of what you pick. This is a valuable thing to keep in mind. If you don’t fill out the poll, you’re probably not going to have a good business. I’m here to help you.
I’m going to share the results with you. Half of the people that answered have only sent an email at least once or none in the last 90 days. Only one of you have done it at least four times in the last 90 days or five times in the last 90 days. About a fifth of you has done at least three times last 90 days. That means you’re probably sending out once a month. That’s not enough. If you’re not doing emails out to asset managers at least once a month or three times the last 90 days, you’re hurting yourself, especially the ones that said once or never. If you answered that you don’t send an email out to asset managers or you’ve only done it once or twice and not doing any type of follow up and your biggest need is to find deals, you are the issue. That’s your issue. I saw a post. Chris Seveney said he closed on 40 deals for 2019. I was like, “Kudos to you.” I love seeing that stuff. What you have to realize is there are specific actions. This is not a difficult business of doing a lot of things. You’re not going to do the things in the first half of the year, you’re probably not going to do it in the second half of the year. You’ve got to make some decisions.
Write Down Your Goals
For those that sent out emails to your database, more of you are sending emails out to your database, your warm contact, your investor database, which is great. A fifth is doing at least five or more times. Some of you are sending out weekly. I’m glad to see that. It should be at least once a week type of thing. Still, over half have only sent out once, zero or twice in the last 90 days. It’s less than once a month. You need to do more than once a month. You need to do this on a weekly basis. Otherwise, people are going to forget about you. If you’re having a hard time raising capital or getting people to talk with you, bump up your emails out to your database. Bump up what you’re focused on. 76% of you did write down your goals for the year. Only a fourth of you didn’t. The 25% of you that did not write down your goals for the year are probably having a hard time being focused on where you want to go and what you want to accomplish for the year. Most of you who fall in line and say, “I didn’t write down my goals,” are probably falling into the next question. “I haven’t even started.” 14% of you haven’t even started on your goals for 2019.
We all screw up on goals. You can’t have twenty New Year’s resolutions. You maybe have one to three max. That’s about all you can focus on, three big goals for the most part. It’s one personal and one financial. Another one could be something non-tangible. Everybody wants to lose weight. That’s a tangible goal. I can see the scale going down or going up. That’s a big thing. If you got a goal and you want to lose weight, the first thing you want to do is write down how many pounds you want to lose. You have to do one of two things. You either need to go to the gym more often or workout, exercise more often and eat less. You can lose weight by eating the same amount. Working out more won’t be quite as fast. You also have to take the activity stuff. You have to get uncomfortable. You to put on that workout shorts and go to the gym and be the big fat guy or gal on the treadmill. You have to mire that because you’re getting outside of your comfort zone. It’s not exciting, but you have to do the little things. Many of you are stuck inside of your prisons, your comfort zones because you’re not going to do a thing, “I’ll get around to it later.”
The number one thing you can do is write down your goals and get started. If you’re not writing down your goals and what you want to accomplish and when you want to accomplish them by, you have a 50% chance of not even hitting them. They’ve done studies for that. If you don’t see any luck in what you’re doing, you probably aren’t doing enough or you’re probably doing old things that used to work. Somebody called me and was like, “I’m sending out letters and postcards to find out deals.” I’m like, “What?” “I get one phone call every month off of these things.” “How much are you closing?” “I haven’t closed anything but at least I’m getting a phone call.” I don’t think that’s the old way of doing things. I saw something about writing their bandit signs. They’re all doing 100 bandit signs. I’m like, “How many phone calls do you get?” “We get five or six.” That’s no good. Instead of you doing 125, why don’t you pick the six and put a little code or something on there so you know exactly where you posted that? It’s something smart. If you’re not doing those things and you do not see enough, you’re doing the old things or you’re scared or lazy to embrace change. You have to embrace change.
Laziness doesn’t work. You have to evolve or embrace change. You have got to evolve or die. I am seeing more and more real estate entrepreneurs dying. It’s not just entrepreneurs, but also investors. People are doing the old way business, the old way of teaching, workshops and seminars. “Let’s throw up an event together.” That doesn’t work. Those things are dying left and right. You have to evolve or die. You have to be smart. You have to do a little bit more than what you’ve done before. I have a very good friend. They’re trying to launch products and a podcast like this. They’re like, “Let’s do the old way of doing it. We’re going to post it to our Facebook page.” I’m like, “How many people are on your Facebook page?” “It’s 300 people.” “Are you doing it anywhere else?” “No.” “Are you sharing it at any other groups?” “No.” “Are you doing an email blast out to your database?” “Yeah.” “That’s good. How big is your database?” “It’s 500 people.” You’ve got to get going. You’ve got to reach out to people. You’ve got to get in other areas to do some things.
That’s the same thing in the note business. You’ve got to evolve or change or tweak some things in what you’re doing. If you’re not having the success that you want or a lot of people are wanting, that’s on you. There are things you can do to evolve. Many of you have already answered. Maybe people aren’t zigging or zagging. They’re just going down the road. They see the end of the cliff and they’re going off the cliff, “This is how we’ve done it for years.” I hate that. You’re going to die. Let me get out of the way. Many of you are not brain dead. You’re just not embracing change. Everybody hates change and adjusting to things, “Why can’t it work on autopilot?” I get it. It’s not. Let’s talk about some of the things that maybe you are having success with. What are you having success with? I threw a bunch of stuff down here as different things that people are doing for success.
Talk To Those Who Are Having Success
It’s dialing for dollars. They’re doing email blasts out. They’re calling the people that open the emails. They’re jumping on LinkedIn and searching for asset managers. They’re jumping on Distressedpro with Brecht Palombo. They’re jumping on the LaneGuide.com and doing searches on there or asking for referrals from previous sources. Maybe they’re doing direct mail campaigns. They’re doing BiggerPockets and jumping on BiggerPockets and asking questions, talking to other people and going from there. Maybe they’re jumping on the county records and looking for searches. Some people are using foreclosure lists to find asset managers or finding deals. It’s trade shows or expos. Some are going there and hanging out and having success. It’s other investors, sending an email out to them or talking to other people. Some are going to meetups. I threw a bunch on here to discuss these things. There were fourteen different things. This is not all of the things. Think about what you are having successes with. What are you doing as leading success in your business? If you’re not having success, what you need to do is talk to those that are having success, “What’s working for you now?”
Commit To Your Goals
The industry is a little bit different. When I started having our peers, people in the same space are coming to me and asking, “Can you help us market? Can you help us find deals?” I chuckle about that. For years, I’ve been that crazy kid, that guy that markets whatever that doesn’t work. It’s a very bittersweet thing. I like to laugh a little bit when peers are coming to me and saying, “How are you finding deals? How are you finding these lists? How do people reach out to you? What are you doing differently than me?” Let’s all face it. Sources change. Some sources dry up, some evolve and some become new in a space. You’ve got to be careful of some joker brokers. The thing that comes out is you have to be doing something. If you’re sitting at home, sitting in the office and complaining about not finding deals, complaining about not having success in the first half of the year, you are the problem, not anybody else. It is you. We are all in our own place because the decisions that we have made is leading up to now. I’m at where I’m at because of the decisions I made, good and bad. We’ve all made good and bad decisions. It’s okay. You’re human. I want to go back to the poll and think about how many of you have thought about being committed to something.
“Commitment means staying loyal to what you said you were going to do long after the mood you said it in had left you.” I saw that quote and I was like, “That’s a good one.” We all get excited in late December, “I’m going to work on this. I’m going to put my New Year’s resolutions.” When January 1st rolls around, “I’m not going to the gym. I’m not going to go work out. I’m not going to do an email blast out.” I am but then I’m not. I’m going to do a podcast. I’m not going to do a podcast. I’m going to mail a bunch of letters and then I’m not. I’m going to call asset managers and then I’m not. We look for an excuse. Excuses come in a variety of different ways. They can be work, being busy, distractions or family. It could be your wife, your girlfriend, your kids, your grandkids, your grandparents or your buddies. Distractions come in many form or fashions. If you’re not committed to what your goals are, you have to set aside those things for a little while to go and find success. I’m not talking about, “I can’t spend any time with you at all.” You still want to have time. You will still have to balance your life the best you can. At some point, you have to take responsibility for where you’re at and say, “I’m going to focus on this now. I have to.” That’s one of the things that we’re dealing with.
Things Most People Are Struggling With
I’ve got a bunch of deals that are aging. We’re going through that twelve to eighteen-month period. We’re working on getting them sold. We’re going to get them sold off, paying investors off. We’re dealing a lot with that stuff. It’s all I’m on the phone with for most of the time throughout the day. I do an hour of the podcast and then I’m marketing most of the day to move deals to talk to sellers and buyers. It is all I do for the most part. I’m not spending time on Facebook or LinkedIn. A lot of the stuff you see that gets posted is automated by my staff. They do a tremendous job. Let’s talk about the things that most of the time people are struggling with. It’s the excuses or reasons I hear for them not having success. Time management being one of them, “I don’t have enough time during the day” That’s BS. We all have enough time to get things done. We’re all given 24 hours in a day. If you’re working full-time, I get that. I’m not saying that you belong to BS, but when do you get home? Do you have an hour or two? If you want to go back and listen to the Note Hustler Webinar that we did, it’s a good one to listen to.
Time management is one thing. Are you time-blocking your schedule? Are you setting aside two hours a day to get some stuff done? Do you have a full-time job? I respect that. If you’ve got a family, I respect you coming home. I’m not going to say you put your family aside, but you can carve out some time between 7:00 PM and 2:00 AM to knock out some simple stuff we’re talking about. Are you struggling with activities? “What should I do and when should I do it? What should I be doing now? What should I be doing tomorrow? What comes next?” A lot of people struggle with activities. I get that. Make your list of the things that can be done. Maybe you want to go back and listen to the 30 by 30 series we did. You want to pull out a spreadsheet and figure out, “What are the days of the month and figure out different things I can do? I can do one thing per day. I only got time one day. I’ll do one thing.” One thing is better than nothing.
For those of you that haven’t sent an email out to your database or haven’t posted an email out to asset managers or once in the last 90 days, the reason you’re not finding success is you’re struggling with time management to get the things you want to be done. You find other things more important. Maybe you’re struggling with marketing, “I don’t know how to use that mail chip. I don’t know how to use LinkedIn. I don’t know how to create a video.” That’s a bunch of BS. “I don’t know when to market. I don’t understand. I’m a frozen caveman real estate investor. I don’t understand the complicated MailChimp thing. I don’t want to pay for my MailChimp.” If you don’t pay, you don’t stay in the note business. If you do not pay, you will not stay as a note investor. You’ve got to realize there are specific investments you have to make. Everybody’s like, “How much money do I need to get started in the note business?” I don’t know. You need marketing. You need to spend some time putting stuff together. It’s an investment. Are you going to be in real estate for 20, 30 years? “Yes.” Do the things that I tell you to do. Otherwise, you’re not. It’s the 21st century. Some people still can’t send an email blast and that drives me bonkers.
Are you struggling with raising capital? If you’re struggling to raise capital, it’s because you’re not talking to enough people. You’re not emailing out. You’re not going out and networking on a database. You can’t succeed in the real estate or even a note business by being 007, being a secret agent man, “You can’t hit me if you can’t see me.” Each of us has our own unique way of delivering things. There is somebody out there waiting to talk to you. You will find somebody if you go somewhere and talk to people. That’s how you raise capital. It’s about talking. “What do I say? I’m scared.” Talk to people. “What are you focused on? What are you doing? Here’s what I’m doing.” If you struggle with finding deals, it’s the same thing. It’s time management, “I am not going to send an email to an asset manager.” Why not? It’s the best way to knock out 3,000, 2,000 or 1,000 or jump on LinkedIn and copy-paste. That’s free. You have to do these things. I’m not giving you anything difficult to do. It’s a matter of doing. For many of you, it’s fear. It is the big four-letter F word. That’s not the one that we like to have fun with. This is the one where false evidence is appearing real.
What does fear stands for? You’re scared of something that’s false. It’s your worst mind game. Who doesn’t like to take everything to the worst extreme possible thing? We all have people like that, “I clipped a nail. I’m going to get cancer.” “Somebody broke into a house five, six miles away. They’re going to break into our house.” I’m going to be a little facetious there. Everybody worries about the worst possible thing. It’s not always the case. What if it stops? What’s the best possible thing? What if you made an email blast that somebody did respond? You have to give people time to take activities. This is a new analogy for me. I was sitting here thinking, “How are we going to dive into the topic about success and things like that?” Many of you want to be the Rodney Dangerfield of the note business, “I don’t get no respect.” It’s like you wanted to go to school but you want to graduate without doing any of the work, without having to go to any of the classes.
I’m a college graduate. I’m the first one in my family to get a Bachelor’s degree. If you got a Bachelor’s degree, you would need to complete about 120 hours of coursework. Very rarely do people graduate with 120 hours. When I was graduating, they didn’t have all these advanced placements, AP classes, where you can go to college the first time and already be a sophomore. Let’s get it down and break it down. My mom went back to college to get her Associate’s degree in Nursing. Twenty years after she graduated high school, she went back to school. If she can do it, anybody can do it. That sounds bad about my mom. My mom’s a hard worker and one of my heroes. 120 hours breaks down to roughly 40 classes of coursework. If you’re going to do this full-time, that’s twelve hours a semester. It’s almost full-time to at least twelve hours. If you want to be on track to graduate in four years, you’re taking five classes a semester, maybe four classes a semester and two classes during summer school. That’s the thing. Think about it. They’re taking five classes per week, two on Tuesdays and three on Mondays, Wednesdays and Fridays. It’s what has worked out for them. That was our thing. Take two classes and three classes for an hour to an hour and a half. That was what it comes down to. It’s to get 30 hours.
I graduated. I took a few more classes. I had 154 hours when I graduated because I changed my major a couple of times. I didn’t pass a couple. I had to go back and retake some of those Ds I got to get my GPA up. I was on a plan, “I’m going to study this. I’m going to go take this class. I’m going to learn about this.”
That’s what you have to realize. Your real estate business is like that. You’re going to add classes. I had to take Economics. Economics is business but why did I have to take English Lit? I’m not going to be using that in the notes space. English Lit taught me how to write. I’m going to take a marketing class so I can market. I know how to talk about real estate. I could talk about real estate all day long. Do you how to write about it? Do you know how to market it? It’s that similar thing. You are showing up in the class and expecting to graduate after showing up. I’m sorry. There are no participation trophies in real life in real estate. Most of you aren’t completing your freshman year. You’d go through a couple of things, “That’s too difficult. I can’t do my LinkedIn post. I can’t send an email blast out. I refuse to do that.” You’re the Rodney Dangerfield of the real estate industry.
I’m constantly changing. We’re constantly changing what we’re doing and focused on. I’ve got to keep up with the curve. We’re changing. That’s why I’m constantly trying to come up with things for you and showing you, “Here’s a great way for you to finance. Here’s a great way for you to dive into things.” What drives me bonkers, and it’s very frustrating, is when I see people making the same mistakes. Somebody had posted something in the WCN Crew. It’s a stupid deal. They have their numbers and all. They were stupid. This person has been uncoachable. I’m like, “You can’t post that.” People chimed in to say, “You need to take this down or tweak this stuff.” He made it worse. He was his own issue. He was his own problem. You can’t do that. You’ve got to be coachable. You’ve got to learn to change. You’ve got to add some tools and take some classes. You’ve got to learn how to be different than trying to be an 80-year-old guy going back to school.
Most of you have the mentality, “I can’t learn that. I’m not going to do it.” That’s the case. That’s fine. You don’t have to learn it. You’re not going ever to have the type of results that you want to have. I want you to be honest with yourself. Look at yourself in the mirror. Are you giving it your all? If you have not had the type of success that you had in the first that you wanted to and your first six months of this year were a failure, if you’re getting there, you’re ramping up, that’s fine. We all got to ramp up. We all got a starting point. If you’ve been around for more than six months and you’re not taking the actions you need to do and you’re complaining about things and other people for lack of deals or stuff, that’s you. You’re not giving it your all. Quit complaining about what you don’t have. Why don’t you focus on what you do have and go from there? Are you doing the things you need to do? Are you using crap and other things as excuses? Are you using your granddaughter’s excuse not to be able to send an email out? Are you using your wife, your husband, your boyfriend, your dog or your cat? You’re an emotional stability duck. Go do something else.
Don’t Avoid The Hard Things
Be honest with yourself. Look yourself in the mirror, “Is this for me or not?” Look at your numbers, “Where did 80% of our income come from? If 80% of our income came from five of our performing notes, we should probably focus on performing notes.” If 80% of your income came from nonperforming notes that you got converted, you should be wasting your time on the REO side. It all comes down to, “Are you avoiding the hard things?” The hard things are often the things that are going to be the most productive. We all avoid the hard things, but that’s where you get the most out of your day. That’s where you get the most accomplished. It’s getting the hard things done so you can go on. I want to challenge you to work on one new thing each week. Could you do something 25 times or twelve times? Could you or won’t you?
Here are the things that I want you to do. I want you to contact 100 new asset managers next week. You get two ways to do this. If you’re working full-time, go on to LinkedIn and connect with 100 new asset managers in the direct message, “I want to connect you and see if you had anything on your books you can get rid of.” If you’ve got the time, you can knock out 100 phone calls in a week or in three days. Follow up with 25 of those the next week. If you go to LinkedIn and sent 100 connections, you can see who you sent invites out. Follow back up with them. Send another message. If they’ve accepted your connection, follow back up with them. If they didn’t accept it, see if they’re linked. See if their email and phone number are on their profile. Reach out in that way until they say yes or no. If you have somebody say yes, add that person to your database. If they say, “No, I don’t have anything,” go connect with another one.
It’s a simple thing. Keep track of 100 new asset managers. I want you to chart them and put them in a spreadsheet. This is not for me. This is all for you. Why do you put them in a spreadsheet? You can focus on the first 25 and think, “I need to follow up with this person.” If they say yes, go look for somebody else. If they say no and they don’t have anything or they’re not the right person, add a new one. If they say they don’t have anything, do they have anybody else, any other asset managers that they work with? It’s a commercial or residential side. That’s one thing I want you to do. That’s not hard to do. You can do this at any time. Why are we doing it like this beforehand? I want to lead up to where you’re getting to the fourth quarter. If you put in July, August or September, by week twelve, you’ll have a good hot list of people to reach out to at first part of October. You want to email to your investor, friends and contacts once per week. We’re not talking about a huge autobiography. We’re not talking about love and peace. I’m not talking about the biographical history of baseball. We’re not talking about Marvel’s movie series.
We’re talking about one email per week out to your investor, friends and contacts per week. Tell them what’s going on, “I hope you’re doing well. Maybe you know that I’ve been in real estate. Here’s one of the things that we’re working on. I’m reaching out to asset managers to start off with and follow up.” Share your journey. You’re only allowed to attend one REIA meetup or expo per week. Some of you are running a couple of clubs a week. That’s fine. Attend one meeting per week. I’ve talked to some of you like, “I went to four REIA clubs’ meetings.” I’m like, “Did you went every night?” “Yeah.” “What did you get done?” “Nothing.” “Did you follow up with the people from the event?” “No.” It’s one REIA meetup or expo per week. That’s it. You need to do other things.
Here’s another thing that’s going to be hard for some of you. I need you to turn Facebook off, especially if you haven’t sent emails to asset managers or warm contacts, you have no business being on Facebook. Remove the distractions. If you’ve sent an email out that week to asset managers and to your warm contact list, you can be on Facebook. If you haven’t done those two things, you shouldn’t be on Facebook at all. Most people don’t see your posts anyway. Facebook has a 1% to 4% of viewing range. It’s why we don’t do a lot of stuff on Facebook anymore. We still post things, but we leverage other things much more efficiently with our time.
We’ve looked at where 80% of our listeners were coming from. It wasn’t Facebook. It was YouTube, our email database and our text message database. That’s why we have leveraged and changed up what we’re doing to be more effective. We may have fewer people on the webinars. I don’t count a three-second viewage. I want people to sit in through the whole thing. A lot more people are watching on YouTube to the end versus, “We have 300 people but only 100 of them stayed around.” I want to talk to those 100. Here’s another thing I want you to do. If you don’t have deals, I want you to break down one asset per week and ask for help. This could be an article you post, “Here’s the deal that I’m working on.” Break down one asset per week. If you don’t have assets that you’re working at on your own, you can go to Madison Management. You can go to Paperstac.com. You can jump on FCI of all places. You can jump on Watermark and look at some assets on there. Jump on there and pull an asset down. Take a look at the numbers. Break it down and share it. Do a little post, “Here’s the deal that I’m working on.” Ask for help. That’s networking. That’s mini-masterminding with people.
We all need help. The only way I got great at evaluating deals was spending hours and hours in my office. My first office was not too far from here. We sublet this little small 10×10 office. It was a retirement continuing education service. They had dry erase boards on four sides of the walls. I would go in there at night. I was divorced. I didn’t have a lot of money. I would spend hours going through and breaking down assets. I would go through what’s the rent rate and what’s the mix of the rent. It was all commercial deals. I was pulling rent rates. I was figuring and analyzing. It’s hours after hours pulling comps, looking at quick comps, pulling taxes and going through it deal by deal. I love that. Most people over break it down. They get in front of a spreadsheet and kill the deal before it ever makes any sense. They got all these numbers. They don’t even know what they’re looking at. A confused mind says no. A confused mind won’t make an offering in an asset because they’re confused. They’re overwhelmed. Take the time and break down some assets. Work through them, “Am I looking at this right? The pricing point is roughly on this.” Let’s not be so crazy, “I was going to be a 30% ROI if you figure in depreciation.” Be serious. You want it to be common sense underwriting.
If you need some help, look at some of the photos. Look at some of the videos we’ve done and break it down, due diligence and bringing it up. Do yourself a favor. Step away from the spreadsheet. Get on the dry erase board. It’s one of the most powerful tools that we do in our Mastermind and Fast Track. I bring people in and get on the dry erase board. “Let’s go through this. What’s this foreclosure time frames? What are the back payments? How much in taxes are due? What’s the foreclosure? Has it started? What’s the value? What’s the unpaid balance? How many months are we behind? Twelve months. Let’s figure this stuff out.” It’s one of the most effective things that you can do.
Last but not least, I want you to record one video per week. One video doesn’t mean it has to be high-qualified Cinemax at night or HBO or whatever. It could be you in front of the dry erase board. I love what Bill Griesmer has done with practicing and getting better and better. It’s current real estate deals. Talk about if you’ve done some fix and flips or wholesale deals or whatever. That’s the easiest thing to do. Get on there. Record it on your smartphone. Have somebody hold it. I’m talking about previous real estate deals. It doesn’t have to be much. Maybe work through the deal on the dry erase board. These don’t have to be long. We’re talking about a five-minute max of time. I know some people who had done 20, 30 and 40 deals and they’ve never done a video. All that knowledge doesn’t help you when it’s in your head. You’ve got to get it out so that the people that come to your YouTube channel and Facebook or that come to get your email address, they see there are some things going on.
Previous real estate deals, post it to YouTube and Facebook. It’s free to do. You have to do it to the tube because it’s owned by Google. Google is the number one search engine. YouTube is the number two search engine. If you don’t post there, you’re only hurting yourself. If you don’t post there, you might as well unsubscribe from every email that I have. I’m getting tired of the excuses. It seems like a lot of people are bitching about everything. I look at their profiles and there’s no activity. Current case studies, maybe you do a video about the deals that you pulled off the website beforehand. The past is great. Talk about current case studies. Share the good, the bad and the ugly. You need to do a quick video on your vendors, “I wanted to share quickly a two-minute video.” I love what Brady Durr was doing. I haven’t seen him do this in a while. He was talking about, “I’m going to this meeting. I’ve been talking with so-and-so.” It could be a two to five-minute video and share it.
Your vendors are going to love it. They’re going to share it too. Their audience with your audience is going to see it and you’re going to add credibility. Maybe do a vendor spotlight in your email that goes out. The reason why you do one video per week is that I want that video to go out in your email. That’s where everything is going, evolve or die. Maybe talk about your markets. “I buy a lot from Ohio. One of the cities we’re going to talk about is Columbus. What’s so great about The Buckeye State? It’s Columbus. I graduated from Ohio University but I live in Columbus. There are higher rent rates. Let’s talk about some of the markets. Here’s a map about Columbus. When you’re going to look at Columbus, you want to stay away from this lower area. Look at the middle of town, the bottom part of the town. Anything that has rent rates below $500 a month is the rough areas. This is the two-gun part of Columbus, Detroit, Arlington, Birmingham or Austin.”
What’s another thing to do? Talk about you. The number one video was a short five-minute video, “Who is Scott Carson? Who am I and what am I focused on? What’s my background? What did I do leading up to this position?” That’s the story of you, your journey and your family. People have families, pets and stories. We’ve all got strange stories to where we got to now. Share it. It’s okay to. If you have people on YouTube, Twitter or Instagram that have millions of followers for doing stupid crap, you have more of a right to provide good content than somebody doing a selfie with a boob pushed together, their ass hanging out or their abs out. You don’t have to be Snooki. You can be you. That’s all you’re going to be. That’s okay. George Crocker is an elder Methodist in his own self-proclaimed tightwad. He does a video about a deal he’s working through. He printed it out and did a video on it. If he can do that, anybody here can do it. Share your journey. What’s your focus? What did you do in the past? It’s all these things. People are like, “What should I talk about?” Here you go. These are the things that you can share.
It’s these simple things like previous real estate deals, current case studies, vendors, markets, you, your family and the holidays. What does Independence Day mean to you? In 1776, these guys got together. They did it for themselves. They’re entrepreneurs. Was it easy for them? No, but they busted their butt for us to be able to do what we want. They didn’t sit around and complained about King George. They went on and did something. They risked life, liberty and the pursuit of happiness to find their way. They saw what you didn’t. How many of us bitch and moan and do stupid stuff and complain and don’t take action? It would be downright embarrassing. Think about it. They have all the riches we have here in the United States. I don’t care where. We’ve got it better than 90%, 95% of the world. Many people complain and moan. A lot of you that are on here aren’t complaining as you are action takers. It’s why you’re here. If you want to separate yourself from the crowd, I’m not telling you to do a million things. I’m telling you to do a little bit more each day, 5% more each day. It’s not difficult to do. It’s one email to asset managers per week, one email to your database and one short video.
Let’s recap your second half success plan. It’s two emails per week, one to asset managers and one to contacts. It’s 25 phone calls roughly. Follow up the asset managers. Connect with 100 and follow up with 25. Go to one networking event per week. The video isn’t a lot of work. It’s a lot of work for you because you like to edit your videos a lot. Run with it. Share your short videos and evolve. It’s one video, two to five minutes talking about your journey or a previous case study. Everybody here can talk about it. Most importantly, write down your goals and share them. I’m not talking about writing down your goals on a dry erase board like many of you do. Write down on a paper. Put it up somewhere where you can see it.
Let’s face it. The year and the days are flying by. The hours are getting faster. The minutes are flying by. If you want something to keep you on track, I have my calendar in front of me. I have the goals that I want to accomplish. If you don’t have those in front of you where you can see them, you’re going to forget about them. They’re going to go to the waste side. You’re going to be reactive and defensive about getting those done versus offensive. Besides writing it down, you need to share them. Do a video about your goals for the year. Have them written down. Share them. How are you getting there? It’s tracking. One of the best things early on when I graduated from college was I worked for a couple of companies. I worked for Enterprise Rent-A-Car for 90 days. 100-degree heat in summer is not fun. I worked at Verizon Wireless, which is a great company. It has great training and great numbers. I moved on to JPMorgan Chase. I worked for Citibank as well. Those three big companies are some of the best trains I had. I learned about goals. We set goals every month. We set things. What was our number supposed to be? How do we track that? What were our Key Performance Indicators?
That’s why I want you to look back. Look back at here in six months. Where did that money come from? Where did your income come from? Did it come from stuff that you’re focused on? Do more of that. If it came from something you’re barely focused on or the success on the deals you found or stuff that you’re only spending a little time, maybe you need to cut out some of the stuff that you’re spending your time on to substitute for the things that you’re finding deals or you’re raising capital. For some of you, maybe raising capital is going to meeting groups. That’s your email. If it works for you, I’m not talking about you. This is focused on those who aren’t having success or not on their way to where they want to be at the end of the year. Post your goals somewhere where you see them every day. I’m constantly checking numbers, podcast stats and registrants for Note Night in America. I’m checking on how many people have opted in for things. I’m tracking where I want to spend my time. I’m tracking where I’m going and what I’m doing. I look back at last year’s numbers and the year before and seeing what things were happening in the industry. It wasn’t me going to expos and speaking at expos. It wasn’t me going to conferences and speaking there. That was a whole lot of expense that wasn’t resulting in the good stuff.
What is working for me were emails in my database, emails to asset managers, contacting people on LinkedIn and marketing via video or podcast. That’s why I don’t go to the Think Realty Expos, Note Expo, IMN and Noteworthy. It’s not worth my time. I love the people there. That would be great to network with people. When I look at what’s it going to cost me to leave my office for two or three days, pay for a booth, a hotel and a flight, I’d rather stay home, buckle down and market it and take a good long trip to want somewhere to go like we did. Is everything perfect? By far, not everything’s perfect. It’s a whole lot closer because I see and get things done. That’s why I don’t go to Note Expo. It’s a great event for somebody who’s brand new. Once you get those connections, why go and do it? You should be home working on your business or doing something you want to do. Paper Source is a great event to go to if you’re brand new, once or twice. You don’t get a lot of business out of these days. The business comes from you being at home and doing the business. Send emails to asset managers. Reach out and market to your database and breaking down deals. That’s where it comes from. It’s all about being smart with your time and money.
Share your goals with your friends and family. If they’re your friends and family, they will help you accomplish things. If you want to sit down and talk with your spouse and figure out, “How much money do we need to have for you to leave your job?” Do you want them to be on board with you? Focus on having them leave their job or come to a plan. Figure it out. “If we have $10,000 coming in each month off the deals, would you be able to stay home with the kids more often?” Maybe it’s your husband or your wife, “Here’s what I need to do. I need to spend two hours and four nights a week doing some marketing on this stuff to help me build some momentum to get some stuff done. Can you give me that? Can you help me by keeping the kids away? Can you help me by keeping the grandkids away from me while I’m working?” Some of you are doing it. Paul did a great job on his podcast episode talking about maximizing his three days at home during the week. His wife handles the little one while he’s working. He goes and plays with her. He takes her swimming. He breaks her up from swimming. They do all sorts of fun stuff. You get the things you need to get done. He has shared his goals with his friends and his family.
If you want to get somewhere and this is what your desire is, make it happen. You have all the tools in front of you. There is no excuse. I don’t care what your excuse is. It’s total crap. You keep telling yourself it’s not going to work. That’s fine. Do something else. Go back to school. Go get you a job. Go from there. Someone asks, “Will the July Note Convention cover residential?” It’s called Note CAMP Commercial. It’s just commercial notes. The days of blowing smoke aren’t there. I heard a podcast interview with one of my idols, one of the guys that I have admired for years, a guy with the name Roland Frasier. I’ve changed some things up where it’s delivering content.
People make a decision for themselves instead of when he posts events and running to the back of the room. Get away with it. Go straight to more of a convention and knowledge aspect. That’s what I’m thinking. I want to give you nuggets and knowledge. You’ll make the decision. If you’re interested in getting more education, it’s great. Go to the website and check it out. Go to NoteBlueprint.com and check out the Note-Buying Blueprint. Sign up for NoteCAMP.live and go to Note CAMP Commercial and sign up particularly for that. That’s all I’ve got. That’s a simple thing. It’s nothing difficult. If you’re not where you’re at now, it’s because you’re probably not marketing enough. You’re probably not following up enough. Keep doubling down. Thank you very much. Hopefully, this is good. Go out and be safe and have fun. We’ll see you all at the top.
- YouTube – We Close Notes
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- Outwitting The Devil
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- Roland Frasier