Real Estate Is A Roller Coaster
Episode 22: Show Notes.
Coming off one of the best months in the business and then having a slow week, today we talk about how to make the best of those quiet periods, not so much for us but for our staff. When people work on commission, employees often start to feel like adrenaline junkies for opportunity, and we, ourselves, feel like we’re on a rollercoaster. In this episode, we discuss the challenges of being an entrepreneur and what it feels like to pursue opportunities that don’t often work out. We also discuss the pressure of generating leads as the owner and marketer, and the importance of tracking your KPIs as you do this. Tuning in you’ll hear some feedback about the start of the Instant Investor Program and how our hosts felt when they sent out their first batch of mail (as those in the program are in the process of doing). Staying true to this podcast’s mission statement to share our horror stories along with our big wins, you’ll hear about some of our first attempts at real estate investing, the leads we wasted our time on, and even some of the challenges we are dealing with today. Tune in for all this and more!
Key Points From This Episode:
- The challenges of entrepreneurship. [02:17]
- Why Mike wasn’t cut out for working in a corporate office. [04:04]
- Why college is a waste of time and money. [05:56]
- How Mike is actively thinking about how to push the business forward. [08:49]
- Thoughts on how to make the best of slower periods from a staff perspective. [10:22]
- The pressure of generating more leads as the owner and marketer. [11:17]
- The importance of tracking your KPIs so you don’t waste money on marketing that doesn’t generate quality leads. [11:55]
- How Mike and Dan’s cost for acquisition hasn’t changed despite the company’s scaling. [14:21]
- Insight into a Ukrainian conflict deal they are currently working on. [16:33]
- Feedback from the kickoff of the Instant Investor Program. [19:42]
- The benefits of friendships and networking. [20:45]
- The value of healthy competition among investors. [22:43]
- How Mike and Dan felt when they sent out their first batch of mail. [24:37]
- Some of the leads that they wasted their time on when they were first starting out. [25:28]
- The challenges of landlording . [28:29]
- Some of the other property-related problems that our hosts are currently dealing with. [29:36]
- How to find out more about the group coaching program. [33:48]
Links Mentioned in Today’s Episode:
Collecting Keys Podcast on Instagram
