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$1 Million in Revenue on Just $30K in Marketing? YES!!

October 7, 2020 By Larry Leave a Comment

You hear all kinds of numbers on how much you should spend on marketing — percentages, dollar amounts, different mixtures of marketing areas (Facebook vs. direct mail vs. cold calls vs. buying data, etc.). But what if your marketing expenses needed to generate $1 million in revenue was just $30,000?

That’s right — 3%.

“You’re crazy!” is the first response. But Tyler Austin of Florida Cash Home Sales does just that. Three percent.

Who is this wizard? He must be a master marketer, have incredible connections, work in that mythical “can’t miss” market (wherever that is), or just be plain lucky.

None of the above. In fact, Tyler just about lost his shirt doing direct mail before he gathered his thoughts, used his resources and experience from his prior career, and discovered the real secret to effective marketing:  Good Data.

Good Data? That’s it? I can buy good data. He must have bought some REALLY good data (and just got lucky).

Nope. Tyler doesn’t just use the data he receives. He has created a system to examine data, remove the extraneous and useless information, refine it further, rinse and repeat. So when he does his direct mail, cold calls, or other marketing, he is using updated, solid data that gives Florida Cash Real Estate a complete picture of the property they have targeted to acquire. So they don’t spend hours falling down the rabbit hole chasing potential clients who aren’t there; they almost always know who the client is, what is their situation, and why they need help.

Now add in the human touch. 

Tyler uses actual humans to talk to actual human clients. He doesn’t use autodialers or other impersonal methods (direct mail is an exception, but the messaging is personalized to the group targeted). His team leaves personal voicemails for people, sends them personalized messages on Facebook or Instagram, or sends them personalized emails. They try to find a family member or friend as a contact who can make a warm introduction for them, which builds trust and helps lower the potential client’s protective shield. And if they can’t help the person, they refer them to someone who can, like a real estate agent or attorney.

Amazingly, human clients really like being treated well, and like, well, human beings. 

Tyler’s data-driven marketing uses various software, including Tyler’s own REISift to parse data, remove the junk, and leave his team with data they can be productive using (www.REISift.io). As Tyler says, a great aspect of real estate is that there are vast amounts of public information on virtually every property. This is also the downside, because a large portion of that data is not relevant to your business, but is included in the data sets you get. Manually sifting through copious amounts of data searching for gold nuggets is a non-stop, time-wasting, exhausting process. However, with the proper software tools and defined parameters, you can automate that process and be left with high quality leads which are useful and valuable.

Tyler still does some traditional marketing — direct mail, local networking groups, Chamber of Commerce, Facebook ads (yes, those are traditional now). He can control his costs and highly target these marketing expenses rather than shotgunning around blindly hoping to get a hit.

Don’t be afraid to take your data and work it to extract what you need for your business. An investment in data management can pay off exponentially both in money saved and time gained.For more information and more tips and tricks from Tyler, check out the Real Estate Disruptors podcast featuring Steve Trang’s interview with Tyler Austin at https://www.youtube.com/watch?v=KaI4L11iHV4&t=1094s. Find more helpful information on YouTube at https://www.youtube.com/channel/UCcsj9IjfX7-fhzLZRPtWo1Q?view_as=subscriber and www.RealEstateDisruptors.com.

Filed Under: Blog, Wholesale Tagged With: data, disruptors, expenses, marketing, real estate disruptors, reisift, save money, steve trang, tyler austin, wholesale, wholesaling

$1,000,000+ in Revenue with Only $30k in Marketing? How Tyler Austin Hacks Data For High Margins.

October 1, 2020 By Steve 1 Comment

Tyler Austin talks about his journey from military, to contractor, to eventually hacking data to maximize profit margins. Tyler is using data differently to reduce his competition.

Video Replay of Interview with Tyler Austin

Start Your Real Estate Disruptors Journey by visiting http://www.realestatedisruptors.com

SHOW NOTES – $1,000,000+ in Revenue with Only $30k in Marketing SpentDownload

$1,000,000+ in Revenue with Only $30k in Marketing Spent
With Tyler Austin, Florida Cash Real Estate

Sept. 30, 2020

About Tyler Austin

Tyler Austin is a former Air Force member and SCADA hacker [Supervisory Control And Data Acquisition], where he used his extensive computer programming and hacking skills to test industrial machines for vulnerabilities to outside hackers. He is the founder of Florida Cash Real Estate, a real estate investment company, located in Fort Walton Beach, Florida. They specialize in solving even the most difficult real estate issues by buying houses for cash. They love buying houses along the Emerald Coast, as this is where we’re from and it is the people, land, and problems that we understand best.

Florida Cash Real Estate helps people through difficult situations such as a property inheritance, fire damaged homes, landlords who are tired of dealing with non-performing properties, and people who simply want to sell their house without any hassle or red-tape. Florida Cash Real Estate is a family and veteran-owned business that focuses on helping homeowners when they need it most.

Tyler also created REISift, software for real estate professionals to help them obtain data on properties and clean it up to be more useful and help them be more successful at closing deals. REISift makes your property data simple and serves as a one-stop command centre for investors to pinpoint distressed properties and capitalize on motivated sellers. 

Connect with or find more information about Tyler at www.linkedin.com/in/tyleraustinoriginal, www.facebook.com/floridacashre, www.instagram.com/tyleraustinoriginal, www.floridacashrealestate.com, or learn more about REISift software at www.REISift.io. 

Show Notes

Steve and Tyler discussed how Tyler used refined data and personal communications to produce over $1 million in revenue on just $30,000 in marketing spending. Tyler’s shares how he obtained his amazing results, why he continues to achieve such results with minimal marketing expenses, and how you can take his techniques and apply them to your business. If you could close more deals by reducing your marketing and data costs, wouldn’t you implement these strategies? Listen to the full podcast on Real Estate Disruptors for all Tyler’s tips and tricks, and more!

Top 5 Takeaways from Tyler Austin

5. Education is a key to success in starting your real estate business. Don’t be afraid to ask questions, take courses, find a mentor, ask someone for help, and mastermind courses are super helpful. 

4. Connections with local business owners can open the doors to getting deals done. Sometimes you may need help with a city zoning or other matter, or you may get leads for new and different projects or properties coming available, or connections to partners or private money sources, or even a hot lead. Your local Chamber of Commerce is a great resource, but you have to be involved regularly to make it work for you.

3. All the data you need is available, you just need a system to organize it, strip out the information you don’t need, and make it usable for your business. However, simply buying data is not efficient — you need to be able to extract the important data and discard the irrelevant. Software is invaluable and a big time-saving tool to get you accurate data quickly and easily. You don’t need to spend a lot of money on data, you just need to use the right tools to clean up the mountains of data available.

2. Your team is critical to your success. A big myth in real estate is that you need a lot of salespeople. Hire people to do the things you either are not good at or don’t like to do. Don’t over-hire; keep your staff lean and focused. If your people aren’t getting results, it may be your management of them, or they may be in the wrong role or the wrong person for the job. Not getting results doesn’t mean you need more people, you may need better training or different people.

1. Using data and combining it with user accounts from social media can make contacting potential sellers easy. Having a third party who knows the potential seller make an introduction is a fantastic way to get in the door with some degree of authority. Most people have the same or similar usernames on their email, Facebook, Instagram, etc., and you can often find them and connect through those media. 

Bonus Takeaway:  People and data are the two most valuable things to your business. Hire good, motivated people who use the data to connect with people in the community. You have to talk to people. Real voicemails lead to real conversations, which lead to real deals and real help for people. It’s not always that you’re buying someone’s house at a certain price, but you’re helping them out of a tough situation by getting them cash when they really need it. That happens much more frequently when you use data to find people, and use communication to find out what they really need.

About Steve Trang

Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.

Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.

Connect with Steve at www.linkedin.com/in/stevetrang, www.facebook.com/stevetrang, www.instagram.com/steve.trang, www.stevetrang.com, or www.realestatedisruptors.com.

TRANSCRIPT – $1,000,000+ in Revenue with Only $30k in MarketingDownload

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Filed Under: Interview, Wholesale Tagged With: disruptors, marketing, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang, tyler austin, wholesale, wholesaling

$800k Profit on One Flip? Tucker Merrihew Shares How He’s Flipped 100s of High Profit Deals

September 25, 2020 By Steve Leave a Comment

Tucker Merrihew shares how he went from doing mortgages to flipping houses and new construction. A serial entrepreneur, Tucker has flipped and built hundreds of homes with massive profit margins.

In this episode, he shares not only what is possible, but a few actionable items that anybody can do to get started.

Video Replay of Interview with Tucker Merrihew

Start Your Real Estate Disruptors Journey by visiting http://www.realestatedisruptors.com

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SHOW NOTES

$800,000 Profit on One Flip

With Tucker Merrihew, TTM Development Company

Sept. 23, 2020

About Tucker Merrihew

Tucker Merrihew is the Owner and Head Acquisitions & Finance Manager for TTM Development Company. He began his career in the Real Estate business back in 2002 as a Top Producing Mortgage loan officer, and then by 2004 he built his own Mortgage Company TTM Finance, LLC & Davis Financial which is still in operation today. In 2008 Tucker began building TTM Development Company from the ground up, and presently he is in charge of daily operations, Investor Relations, project financing and all new acquisitions for the company. Currently Tucker is looking to expand his company’s brand through projects like the 2013 Street of Dreams in order to make TTM a household name for Portland homebuyers looking for exceptional homes. Tucker also has two very successful and long-running podcasts, The Portland Real Estate Podcast and The Real Dealz Podcast, each packed with helpful information for real estate investors of all levels.

Connect with or find more information about Tyler at linkedin.com/in/tucker-merrihew, facebook.com/tucker.merrihew, instagram.com/tucker_merrihew, ttmdevelopmentcompany.com, or check out his hit podcasts PortlandRealEstatePodcast.com and TheRealDealzPodcast.com.

Show Notes

Steve and Tucker discussed how he made $800,000 in profit from one flip, including his advice on how you can do the same thing. Listen to the full podcast on Real Estate Disruptors to get Tucker’s advice, lessons learned, and what is needed to start your very own podcast!

Top 5 Takeaways from Tucker Merrihew

5.  When doing flips, having a good General Contractor (GC) and a good relationship with your GC is key to getting flips done on time and on budget with quality work. 

4. Want to host your own podcast? Just do it! But you MUST be committed to continue doing it. As with anything in the real estate industry, having a high level of stick-to-itiveness is the key to success, no matter where the market may take you.

3. Relationships are the key to success. Knowing people in all areas of real estate can make your life easier and can give you resources you need when you need them.

2. Real estate business is a progression — don’t jump in the deep end right away. Start with wholesaling, or easy flips (carpet, paint, minor repairs); don’t start with high end flips (big investment = big risk even though payoff can be big). Learn on smaller projects where a mistake won’t bankrupt you.

1. Making big profits on high end flips is about three things:  Floorplan, Finishes, Lot. In the high end market, you can’t force a property to be what it isn’t. Buyers willing to pay millions for a property won’t accept substandard fixtures, a bad floorplan, or a bad lot. Two of these you can fix (with enough money), but you can’t fix a bad lot (and watch out for flag lots!).

Bonus Takeaway:  Everything Tucker does is done with intention, from the parameters of their direct mail marketing to their home design to their podcasts and software app. If you’re not going to set exactly what you want and go after it hard, maybe you shouldn’t be doing it because success will be difficult to achieve.

About Steve Trang

Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.

Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.

Connect with Steve at linkedin.com/in/stevetrang, facebook.com/stevetrang, instagram.com/steve.trang, stevetrang.com, or realestatedisruptors.com.

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Filed Under: Interview, Wholesale Tagged With: big profits, disruptors, Flip, flip profits, High end flip, massive profits, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang, tucker marrihew, tucker merrihew

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