All Forum Posts by: Johnny Kang

@Noah Brinker

It all helps; proper domain name, back-linking, properly tagging, social media, unique content. Just make sure everything's congruent to what you're trying to accomplish.  

@Jordan Berry

Hmmm, yeah the ones I looked at definitely didn't have returns like that; Thanks for sharing. I'd love to check out your site. You can send me a DM. Thanks again. 

@Frank Chin

You've got some funny stories hahahaha ; "one tawsan on the check for the amount. Funny, I even managed to deposit it."

Sorry for the late response. I didn't get a tag notification. Posts aren't mobile friendly. 

I'll be going to contract in the next week or so, depending on when we work out the details between the seller & myself and my partners. I'll let you know once we've closed on it.  

Business is on the books. It can be run absentee, but for the first 6 months to a year, I'll be in there to systematize & streamline it since I know the business. 

I've looked at several laundromats, but seemed to me, the margins were fairly slim.  

@Josh Rodriguez

As others have alluded to, there are many ways you can build your funnel. Just be sure to at some point, automate and streamline your process so you can work "on" your business, and not "in" your business. If you don't make that transition, it'll start to drain you soon or later. 

Below is my funnel with the help of my 4 VAs. 1 Data scraper, 1 skip tracer, and 2 cold callers. I use share Google Docs/Sheets with them, and they go into individual sheets I have for each category and populate the property data I've instructed them on, gets uploaded to our auto-dialer and the cold callers reach out to the owners. 

I vet the properties to see if it's worth taking a look at in person; then my business partner goes and meets them to build rapport, and yadi yada. 

Now that outbound marketing is automated, I'm working on online inbound marketing, which will also be automated. Hope that helps.

@Barry Pekin

Awesome question!

Initially when I read the title of your post, I thought to myself, the 5 & 6 figure checks I was able to make on deals, but I realized when I did have closings in those figures, I felt nervous and at unease, because I wasn't sure if I could repeat transactions of that sort because I was too new to know how to make them repeatable. 

I know what boosts confidence is getting results; but I also know that results are a by-product of the process involved in getting a particular result. 

Coach John Wooden who have won 10 NCAA national basketball championships in a 12 year period had his players focus on the process, not the result. 

When the initial seed of automating my business, at first with VAs, and now working on online marketing, I know results will follow, in a predictable manner. That's been the biggest confidence booster. 

@Bryan Richardson

I understand your reasoning behind your strategy, but here's my take on it;

Deals are hard enough to come by, but when you dwindle that down to only target owners who'd be willing to carry paper, I think you're decreasing your odds of finding a deal even further. 

There's a difference between going after a targeted list, and making your requirements so stringent, that you may loose out on other deals you can close on. 

Last week, my cold callers collectively made 1332 phone calls using PhoneBurner, and we got 4 good leads that may turn into something in the coming weeks/months. Who knows, but it took A LOT OF CALLS, to say the least. We'll deploy whatever strategy makes sense and not limit ourselves to 1 specific strategy. 

If you were looking to find owner financing deals as a way to close on a transaction due to limited funds, how about increase your arsenal of financial resources, as opposed to primarily targeting such a narrow potential deal source? Just a thought. 

@Erica L Hunt

Oh, it was the other way around. Oops, sorry. lol

@Erica L Hunt

A lot of people might say to to Upwork, or other VA specific sites, but there are some issues with that.

1) Those sites have to make money, so you're paying fees to a middleman, increasing the amount of money you have to spend on VAs.

2) More important than the 1st point, good VAs with high ratings have a choice of which employer(s) to work for. They may take the job you posted, but if something better comes along, they'll drop you without any notice, or just disappear on you, making you go through the whole process of posting, hiring, training, etc. Believe me, I've had this happen to me on more than 1 occasion. Wasting time on training the wrong people is not something you want to keep doing. 

What you have to do is find people in those countries directly (a lot of people hire people from the Philippines because their English is good, currency exchange rate is favorable to people in the States, and their accent is not as thick as people from other countries). I used to use Craigslist, but now I just have my VA post on her Filipino VA Facebook page if I need to hire someone.

I have 1 Admin VA, 1 Skip Tracer, 1 Cold Caller (looking for another cold caller).

I make them go through my vetting process (email me your resume, send me a video/audio around the tasks I want done, have them go through a trial day, etc). My hiring & training process is almost 100% automated, so I hardly spend any of my personal time on it.

Once hired, I send videos on specific tasks I want done. (a) I don't like to repeat myself. (b) if I have to replace someone, I can just send them the videos, so no need to spend time training them.  

If you want quality people who'll stick around so you can focus on other things, without having to constantly start from zero, create a hiring funnel so you only have the best people work for you, without having to spend more than you need by paying fees to a middleman. 

@Rohan Anthony Soltau

Although I'm not a shy person, I'm a very private person by nature. 

When I got into finance after college, I got all the typical advise you see in books, podcasts, etc; Learn about sales, read books on getting out of your comfort zone, go join a toastmasters group, go to meetings and meet different types of people. Although these are not bad advise, one thing I wish I had known, was to play to my strengths. 

There are numerous books/courses that talk about the major personality types. I learned about S.T.A.R.

Structure/Stability

Technical/Theory

Action

Relationship 

We all have some aspects of these traits, but usually 1 or 2 will be dominant. My most dominant trait is "A". Then "S". 

What all these courses/books teach, is to try to get good at "R" and "A," so I tried my hardest to develop those skills, when I was not naturally good at them. That's like telling a football player, you all have to get great at being a quarterback, or a linebacker, etc. Of course you can always improve on your skills, but no matter how much you improve, not everybody is designed to be great at certain specific tasks.   

My real estate business partner is a social butterfly. She can meet people and within 1 minute, get their whole life story. I'm not even exaggerating. I couldn't do that in a million years. On the other hand, I can spend 10,000 hours with her to try to get her to be more organized, plan things out, operate from seeing the bigger picture, she couldn't do it. So we work as a team. I source all the deals, using virtual assistants (something I've put in place because of my "S" trait) and when we have a good potential lead, she's the one who handles the people. 

Real estate, as in sports or anything else, is a team sport. You'll need the "A's," you'll need the "R's," etc., but you don't have to try to be what you're not naturally good at. So for 8 years when I was in finance, I was spending my time & energy trying to develop competence in areas I was lacking, and would mentally beat myself up, thinking I wasn't cut out for that industry, when my real issue was, I was working on the wrong areas. 

When I realized this and started bringing others who had skills sets I didn't have, and began specializing in what I was naturally good at, my income tripled and quadrupled.  Yes, do keep delving into books, podcasts, meetings, etc, but find out what you're good at (take one of those personality tests), and become an expert at it, while surrounding yourself with people with other qualities. 

@Matthew Hagerty

I was wondering if you guys had a spot for 1 more person.