Ep.159 – Your 1st Hire with Bill Allen

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about this investment strategy that has Bill making more money and allows him a two-hour workweek 
  • Find out the best marketing tactics and strategies for generating deal leads in volume 
  • Learn how to pay attention to every small win and make it count and finally make it big

Resources/Links:

Summary: 

Bill Allen is a Navy pilot and real estate professional. He is the CEO and owner of 7-Figure Flipping and host of the 7-Figure Flipping Podcast.  

A few years ago, Bill was only flipping 1 or 2 houses per year and doing all the work himself. Now, he’s built a systematized business that runs without him.  His wholesaling and flipping company, Blackjack Real Estate, is based out of Nashville, TN, and does upwards of 200 deals a year with a staff of 15. 

In this episode, Bill shares the investment strategies he started early on in his real estate venture and how he eventually focused on one thing and scaled it up. He also talks about the mistakes newbies make in the industry and how to avoid them. 

Topics Covered: 

01:09 – What his life looks like now after years of hard work 

01:51- The investment strategy he started with and other deals he is busy with at this time 

02:33 – Wholesale deal versus a flip deal 

04:08 – Why wholesaling business is totally different from a flipping business 

06:07 – How he does his fix and flips these days 

08:40 – Of hiring a mentor and a team 

11:39 – Mistakes newbies are making in real estate 

14:23 – When to hire people to help you run the business 

17:49 – Paying attention to every small win and finally making it big 

Key Takeaways: 

“What I recommend to everybody out there is get good at what you do and focus.” – Bill Allen 

We were making a bunch of money wholesaling houses because the business was automated and systemized. And then we were kind of breaking even or potentially losing some money on the flips just because they were taking too long, and things would come up, and we weren’t focused on it.” – Bill Allen 

“I’ll say the most important thing is consistency. We’re consistent with our marketing. And that’s where a lot of people slip up.” – Bill Allen 

“I found out my weakness, I hired out my weakness first and leaned into my strengths, which were numbers, KPIs, back-end systems, automation, marketing, things like that.” – Bill Allen 

“We’re so afraid to lose money that we’re not willing to go do anything. Like you get stuck, this analysis paralysis is a real thing.” – Bill Allen 

“I think we got to get to a point where there are equal amounts of kind of education and understanding and also like real-world information and activity, so you got to go out and take action.” – Bill Allen 

“Just get out there and take some action and do something. And don’t be afraid of looking or feeling like you don’t know what’s going on. Sometimes that’s okay; you’ll learn as you go.” – Bill Allen 

“There’s this uncertainty of like when to hire people. And so, if you have some money, and don’t have any time, you have to. If you want to do the business and not create another, I created a second full-time job when I didn’t have some help. And it’s a challenge, it really is.” – Bill Allen 

“If you don’t have any money, but you have a lot of time, then you could potentially be that person that goes and help somebody else, get to that next level where you learn.” – Bill Allen 

“You need to spend time looking at the small wins. And so, I was looking at the small wins like we got this many calls, we have this many leads, we have this many people in follow up like this offer is so close. We were doing, we’re making moves, we see progress. So, in there, I wasn’t as concerned because I knew the dam was going to break eventually.”  – Bill Allen 

“I’m very analytical, very numbers-driven like that feedback loop is so important, what you’re telling yourself in your head. And if you’re saying I still don’t have a deal. I’m a failure; that’s the problem. I was going; we’re making progress. I’m looking back in the rearview mirror from a month before, and I can only recognize myself. Like now, I’ve been in 10 houses. I made ten offers I’ve talked to sellers. I’m so close. I almost got that deal. Like I knew it was coming.” – Bill Allen 

Connect with Bill Allen: 

Connect with Dave Dubeau: 

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#FreeFlowFriday: Where are Your Ideal Investors? with Dave Dubeau

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Checkout: Raising Capital Without Rejection Full-Day Workshop
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What you’ll learn from today’s episode:
  • Find out how you already have a ‘Golden Throne’, you just have to use it 
  • Learn how to be positioned properly in the eyes of your prospective investors 
  • Discover the top 5 places your ideal investors hang out (and how to access them) 

Resources/Links:

  • Are you looking to attract investors and raise capital for your deals? Get a complimentary copy of Dave Dubeau’s newest book, called ‘The Money Partner Formula’. Get your PDF version at investorattractionbook.com. 
  • Join me for one of my upcoming live one-day virtual workshops. You can register here: https://investorattractionworkshop.com/ 

Who should I focus on as prospective investors?
Where can I find them?
How can I ‘convince’ them to invest with me in my deals?

Big questions, and today we’ve got Big answers on this installment of our Free Flow Friday. 

Topics Covered: 

01:35 – Talking about the concept of ‘sitting on the golden throne’ 

02:03 – Find a group of people that you have pre-existing relationships with 

02:22 – Where to find folks that you have a connection with 

03:26 – Why is it important that we work with people in our sphere of influence to get started with 

Key Takeaways: 

“For reaching out to people that we already have that relationship with, we’ve got two-thirds of the battle already won, because they already know us, they already like us. What we just have to work on is what I call the trust factor, being seen as the obvious expert as the obvious choice when it comes to real estate investing in the eyes of these people.” – Dave Dubeau 

“It’s very important that we get started with them on the right foot. I remember back in the day, when I first started trying to raise capital, I pretty much made every mistake you possibly could. So, I’m going to help you avoid all of that. One of the big mistakes I made was that, I just picked up the phone, started dialing for dollars, cold calling, flopped at that, tried networking, flopped at that.” – Dave Dubeau 

Connect with Dave Dubeau: 

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Ep.158 – Small Multi Sweet Spot with Georges El Masri

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out the main advantages of small multifamily properties 
  • Discover about a unique and less costly way of finding deals 
  • Learn helpful tips to help you grow your real estate portfolio quickly 

Resources/Links:

Summary: 

Georges El Masri is a passionate real estate investor who is interested in helping people get over the fear of investing in real estate. 

In this episode, Georges shares how he finds his small multifamily properties in competitive markets – The way he finds deals is worth paying attention to. He’s got practical tips to quickly grow your deal-flow and real estate business. 

Topics Covered: 

01:27 – What made him focus on small multifamily properties 

03:17 – What is his advantage against big guys in the industry 

04:35 – Why go for the residential financing and not the commercial 

05:50 – How many units can he qualify for residential financing 

06:31 – On working with joint venture partners 

06:50 – How does he find properties other than from MLS 

07:36 – What is an exclusive listing 

07:54 – Why a seller signs a listing agreement rather than have it in MLS 

08:23 – Other means of finding deals that worked well for him 

08:46 – Which neighborhoods does he send flyers to and how does he send them 

09:26 – How does he make sure the flyer reach the actual owner 

10:24 – Encouraging words for those intending to get started in real estate 

11:42 – Being open to partner with both active and passive investors 

12:27 – Taking a look at how his partnership with joint venture partners work 

13:29 – How does he make his joint venture partners get interested to partner with him 

14:13 – Why did he start a podcast and how does it help his business 

Key Takeaways: 

“I just love the idea that I can have a property even if one person’s not paying, I have three or four other people that are and I won’t have any issues paying the mortgage at the end of the month.” – Georges El Masri 

“You just got to try it and see what works. There are all these different methods that you have to try and, and you find opportunities in different ways.” – Georges El Masri 

“I love looking for off-market opportunities. And part of that is because if you can get them for a bit of a discount, let’s say that you don’t charge commission or whatever and you get it for a discount.”– Georges El Masri 

“With residential financing, it’s easier to qualify, you don’t have to do a phase one. You don’t have to pay for all the broker fees and all that, you’re just getting it through the bank. So, the costs are lower, the learner fees are the same as a typical mortgage. – Georges El Masri 

I can say that the reason that I’ve become this comfortable, or even that I dove into four to six units, is because I hired a coach, and I got help.” – Georges El Masri 

“There’s a bunch of different ways to do it. But I really think that you need help. It’s hard to grow quickly if you’re trying to do everything on your own.”  – Georges El Masri 

“I’m always asking. Anytime that I see somebody who’s interested in investing, but they don’t know how, or they’re afraid, I always bring it up. I follow up with people, so I don’t just ask somebody once. And if they say no, I’ll check in with them again in a couple of months or whatever. Always, always on the lookout, always staying in touch and talking to people.” – Georges El Masri 

“Why I started a podcast? I figured it’s an opportunity to share a good message, and I get to pick people’s brains, which is awesome. So, a lot of people that I probably never would have had an opportunity to sit down with and have a conversation with are open to it when you say I’m recording a podcast.”  – Georges El Masri 

Connect with Georges El Masri: 

Connect with Dave Dubeau: 

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#FreeFlowFriday: Stranger Danger Investors with Dave Dubeau

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What you’ll learn from today’s episode:
  • Understand the danger of going out to the general public to raise capital 
  • Discover the important matters to know when it comes to regulatory authorities (aka, it’s nice to stay OUT of jail). 
  • Find out why there is a HUGE rejection when you do old school marketing strategies, especially when you try to raise capital from everybody and anybody 

Resources/Links:

  • Are you looking to attract investors and raise capital for your deals? Get a complimentary copy of Dave Dubeau’s newest book, called ‘The Money Partner Formula’. Get your PDF version at investorattractionbook.com. 
  • Join me for one of my upcoming live one-day virtual workshops. You can register here: https://investorattractionworkshop.com/ 

We’ve all told our kids to beware of strangers. 

Well for most of us aspiring capital-raisers, the same holds true when it comes to raising money for our deals…we want to heed the “Stranger Danger” rule as well. 

I’ll explain why in today’s short Free Flow Friday episode of the Property Profits Podcast… 

Topics Covered: 

01:23 – What is ‘stranger danger’ foundational principle 

01:41 – Don’t go after strangers 

02:31 – Reasons why you shouldn’t go for strangers 

04:09 – Why you will be crossing the line with SEC when you deal with strangers 

05:33 – Don’t try to raise capital from the general public unless you are licensed to do so 

Key Takeaways: 

“If you’re going out to the general public, they don’t know you from the south, right; they don’t know you at all. So, there’s going to be a lot of natural suspicion about this guy, or this gal that’s trying to raise 5075 $100,000 from them for their real estate deal.” 

“You’re starting from scratch, for people to invest with you, they need to know you, like you, and trust you. A stranger does not know you, probably, doesn’t like you, and definitely doesn’t trust you with their money. It’s a lot of hitting your head against a wall. It hurts a lot; you’re going to be just up for a massive amount of rejection.” – Dave Dubeau 

“Typically, if you are raising capital for a real estate project, and you’re dealing with a stranger, somebody that you don’t have a relationship with, you are crossing the line with the Securities Commission.” – Dave Dubeau 

“If you’re raising capital if you’re raising money, without appropriate documentation without the appropriate licensing, and other choices, you can get an offering memorandum for your deal.” – Dave Dubeau 

Connect with Dave Dubeau: 

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Ep.157 – Capitalist Cop – Adrian Pannozzo

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn how to go “all-in” even with very little (or no) previous real estate investing knowledge 
  • Find out how Adrian brought joint venture partners onboard and gained their trust despite being new to the biz 
  • And more… 

Resources/Links:

Summary: 

Adrian Pannozzo is a retired Police Sgt from Peel Regional Police. He began investing in real estate ten years ago and now owns over 50+ properties with over 200 rental units. He also specializes in joint venture partnerships incorporating the BRRR strategy. In this episode, Adrian shares his journey from being a police officer to jumping into real estate investing with both feet – in spite of not knowing very much about the industry.

With his first property came along with it other investment deals and eventually joint partnerships. It brought good fortune not only for him but also for his investors. 

Topics Covered: 

00:59 – How he shifted from the police service to real estate 

02:00 – What made him decide to get into real estate after 21 years in police service 

03:52 – Going all-in in real estate 

05:12 – Number of properties he did on his own before working with joint partners 

03:52 – Believing in the numbers, in the system, and jumping in with both feet 

05:40 – Starting with turnkey properties and property management to finding its way to BRRRR strategy 

08:24 – How did he start bringing in joint venture partners 

10:01 – How does a joint venture work for him? 

11:17 – Are they bringing in the capital for a per deal type? 

12:14 – How does the split for the deal look like? 

Key Takeaways: 

“I guess my tolerance, and my risk level, potentially is a little bit different than other people’s, being a police officer and whatnot. Long story short, that kind of led me to the wonderful City of Hamilton where I bought my first rental property.” – Adrian Pannozzo 

“Why Hamilton, it was really just centered around the numbers, like the return on investment and cash flow in Hamilton, superseded York Region where I was living.” – Adrian Pannozzo 

“I guess just my personality, and I’m not the kind of guy to sit on the fence forever, I dive into it. And at the time, I didn’t really know Hamilton, the city at all more. I was wanting to jump into it and believe in the system, believe in the numbers, and knock on wood, it all worked out.”  – Adrian Pannozzo 

“How did I bring joint venture partners on board? We started marketing ourselves. I got into business with Sandy. And he put me on the podcast. It resonated with people, I guess my background and my story of a retired police officer, full-time investor, and the wanting to get into business together. So, in 2017, when the market was on fire back then, things took off for joint venture partnering.”  – Adrian Pannozzo 

“Joint venture is partnering up with an expert that can teach you and coach you, but also be your business partner, and buy properties together.”  – Adrian Pannozzo 

“The joint partners they’re bringing the capital, and power team we have behind us to essentially deliver, I want to say, upwards of 95 plus percent ROI, incorporating our strategy with the BRRRR method.”  – Adrian Pannozzo 

“Hands-Free, hassle-free, completely passive income for our investors. Many of them say I’d like to learn along the way because, potentially maybe I want to do it on my own. I tell most investors, absolutely you could; you can be a sponge and soak up as much information as you want. All our secrets are shared with you along the way for sure.” – Adrian Pannozzo 

Connect with Adrian Pannozzo: 

Connect with Dave Dubeau: 

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#FreeFlowFriday: Needy is Creepy with Dave Dubeau

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Checkout: Raising Capital Without Rejection Full-Day Workshop
(Online): Click Here
What you’ll learn from today’s episode:
  • Understand that doing traditional old school marketing will not sustain you long-term when you are looking for JV/investor partners to raise capital 
  • Find out why the whole idea of attracting investors is so much more effective than pushing yourself on them to raise capital 
  • Find out what you might be doing (unknowingly) that repels potential capital partners/investors repel, sending you into an endless spiral of rejection (even with hard work and good intentions)…and what to do instead 

Resources/Links:

  • Are you looking to attract investors and raise capital for your deals? Get a complimentary copy of Dave Dubeau’s newest book, called ‘The Money Partner Formula’. Get your PDF version at investorattractionbook.com. 
  • Join me for one of my upcoming live one-day virtual workshops. You can register here: https://investorattractionworkshop.com/ 

When it comes to trying to attract investors (and romantic partners), nothing is a bigger turn-off than someone is ‘needy’ or desperate. 

It oozes from every pore of their being and actually repels the very people they are trying to attract. 

That’s what we’re discussing in today’s short (6 min) “Free Flow Friday” episode of the Property Profits Podcast. 

Topics Covered: 

01:18 – A story illustrating the foundational principle of ‘needy is creepy’ 

03:14 – How does the story apply to attracting potential investors to raise capital 

03:34 – A lot more painful stories looking for investors to raise capital 

04:56 – How to get people to reach out to you instead of you chasing after them 

05:20 – What happens when you do old school stuff marketing 

Key Takeaways: 

“If your prospective investor, if your potential money partner feels or senses that you are desperate, that you’re needy, that you have to have the money for your deal, then that’s going to actually be repelled up.” – Dave Dubeau 

“When your prospective investor feels or senses that you are needy, that you’re desperate, that actually repels them, and it has the exact opposite effect that we’re hoping for.” – Dave Dubeau 

“When we’re doing this old school stuff, like dialing for dollars, cold calling, spamming people, emails that are unsolicited, all this kind of stuff is really bad positioning. Because we aren’t seen as an authority or as an expert in real estate investing. We are seen as somebody who’s desperate for money to do a deal.”  – Dave Dubeau 

“When you’re networking, when you’re schmoozing, for most of us, that involves a lot of hard work, and an immense amount of rejection. And at least from what I’ve seen, very, very few people can do that consistently long term.”  – Dave Dubeau 

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