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Comment after comment has been demanding information on how to build your very
own real estate power team and friends, we're bringing it right now in a
three-part series to show you how you build a real estate power team so you
can have a whole team of people doing all of the work to help you build a
powerful empire in real estate.
Alright, welcome, my friends. I am here with Steven Michael Miller and we're
here to teach you how to build your own real estate power team. Hands down
when people jump into real estate, number one mistake they make is they try to
wear all the hats. I'm the realtor, I'm the bird dog, I'm the lone office, I'm
the person getting the loan. I'm the property manager, I'm the handyman and
you know what? That turns into a weight that can absolutely crush you and I know
what it's like to actually do that so this is the beginning of a three-part
series and what's going to be happening as Steven and I are going to share our
story of how we built a team, we're going to share what the essential components of a
team are and we're also going to talk about where you go and get these people
because when you pull them together, you are ready to go out there and crush it
in real estate and instead of being alone, we're going to give you the team and
we're going to give you the action plan on how to make it happen and it all starts
with building your freedom team. - This video is brought to you today by
the letter F, okay. This is the 5 F's of building your power team
and like Kris said, the first thing that we all want is freedom and this is
important to talk about here in building your power team because we have a saying
that we've been talking about and saying for years which is, if you want something
done right, don't do it yourself. You've heard us say it over and over and over
again and that doesn't mean go out necessarily and hire somebody else
or that you have to come do it with us.. No, you can do this on your own
with the power team, right, and you're not doing by yourself, alright you can find
that power team because that power team is going to do something for you that you
really want, it's going to create freedom. Now just think for a moment, why do you
want to do real estate? Chances are, you want to do real estate because it's
going to give you more time. At least that's what you're looking for. You're looking
for more time, you're looking for more money.
Obviously, that financial freedom but I think more than anything else, most
people are looking for peace of mind, they're looking for that clarity, they're
looking to be able to say yes to their kids, to be able to say yes to their wife
or husband, to be able to create more for themselves that will create that peace
of mind, that's what people really want, that true freedom that comes from those
types of things. So freedom is the first F in this series and if you are
looking to do real estate, make sure and build your own power team,
I hope that you have that freedom as one of your wives that should be part of
that as well. You know, Steven, when I jump into real
estate, my whole journey started because I wanted more out of life and I felt
handcuffed, I felt like I was in bondage, I had a job that I didn't want, I didn't
know how to provide for my basic necessities for me and my
brand-new bride my wife and you know fortunately, we didn't have any kids yet
but we didn't even know how to have enough money to take care of us and it
was right there I saw this path laid before me of working corporate America
for 40 years and hating every bit of it and I thought, you know what, that freedom
sure, yes, it'll mean freedom of time, one of the most valuable commodities we have.
Yes, it'll mean freedom as in there's money to say yes once you often were
saying no but the peace of mind has been irreplaceable, it's been a priceless
value that I've now been holding on to and have experienced now for all these
years and I just want a second that, along with what Steven is saying that
the first F of all F's we're going to be talking about today, it's it really does
come down to a desire for freedom and a wide big enough. Now once you have that,
what we're going to be doing in the three-part series is, we're going to talk
about how you find the deals with the right power team, how you fix the deals
with the right team, how you fund the deals with the right team and how you
fill and follow up on the deal with the right power team. You do not have to go
it alone, life was never meant to be a solo journey so lift your head up. Too
many of us are so afraid, we're sticking her head in the ground like an ostrich,
waving the big meaty part now for the tiger to come and ***. - Absolutely so
let's jump in. After the freedom, after you understand this, the first step is to
find or to get someone who knows how to find these deals for you, this is a
crucial step and you can go to a lot of different people. You've probably heard
the word bird dog before, right? Someone who's going to scout out and look
for and find the deals for you. That bird dog is often going to be a realtor. Now
Kris, I know we've got ideas and opinions about realtors and this isn't
to knock any realtor in particular, I mean, I'm a realtor, I have my license as
well but there are a realtors are a dime a dozen, there are so many realtors that
are hitting the market place every single day, taking their tests and
getting ready and they study then they're excited, they're ready to go out
and find you a property but the problem with that is finding
a realtor who has experienced, finding a realtor who has that investor
mindset, that's extremely important. What are the what other aspects are you
looking for in a realtor or in someone who's going to find those properties for
you, Kris? - I got to start by just saying, the friend that you know that's a
realtor is not who you're looking for, 99 out of 100 realtors, they're a no, don't
try to make a round pig fit into the square hole. Outright sweet. So
instead, it's this idea of make like a tree and leaf, these idioms, they don't..
I don't even know.. so instead you're looking for a realtor that is not just investor minded
but preferably is an investor. They have a track record of finding investment
deals. If you talk to 10 realtors and say, "Hey, I'm looking for a good deal on
houses." 9 out of 10 are going to say, "You can't get a good deal..."
You know, most realtors don't know. So real quick, where do you go to
find these people? It's really simple. When you go to your classifieds, real estate
is always being represented by realtors and what I do is, they still put into
print the little real estate book, they've got it online, there's all sorts
of advertisement places where people are trying to move the real estate and
realtors are listing them. Go to where the realtors are and look for the ones
that specialize in using words like special opportunity, investor friendly,
bring your tool belt, handyman special, bank-owned. If they specialize in
distressed properties, there's a good chance there the realtor that you're
looking for and once you find them, you got to interview them and how you do
that is real simple. I'm an investor, I'm qualified to buy property and right now
here's my criteria. I'm looking for properties with a 15% equity position or
I'm looking for properties that can produce a 15% annual ROI and when you
share those standards, they're either going to look at you and do one of
two things. Most of them will say, you crazy and don't worry that's not who
you're looking for. Once in a while you're going to get one that say, I can do
that, I can make that happen. Guess what. You may have found a realtor
for your team. I say may have because sometimes you have to go through a
number of them. I remember I used this tactic, I found this realtor, they found
for me that afternoon a hot deal. This was a deal that I made over
$100,000 on by the time I sold it. I was grateful to the realtor. When I reached
out to them again, they sent me another swath of homes and not one of them met
my criteria. I'm like, did they just get lucky and the reality is yes,
actually sometimes they do. The question is, does the realtor know what
they're doing? Are they doing it intentionally? Are they doing it on
purpose? Because the deal of the decade comes along every week and they either
found it by luck or they found it intentionally and you're looking for the
ones that can do it over and over and over again. Okay so now you found a
realtor but I will say this, make sure that in the finding process, you're not
relying on one single point of failure. In other words, if you're only ever
working with one realtor who may or may not be good, maybe they're awesome but if
you're still only working with that one realtor, there's only so much that one
realtor is going to be able to provide for you because you're just one
client for that realtor. So again, this idea of not having one single point of
failure. I know in our journey, Kris, when we first started expanding
outside of real estate, well in the state, we had multiple realtors already going
to work and doing things and bringing deals to the table but when we expanded
out of state, we had a lot of realtors, we had other bird dogs - We had a massive
acquisitions to them nationwide. - Doing all sorts of different types of finding, we
even enrolled different banks and different things to to go out and find
properties for us and so again, when you're finding the properties, when
you're trying to create that freedom and and you're getting into the finding
aspect, make sure that you get out of that one single point of failure and
create a power team beyond just you and one of the person, get as many people
involved as you possibly can. - Because the reality is, you've got bank options and
you've got arios, and you've got for sale by owners and you've got real estate
that comes in so many different shapes and forms and you're looking for
realtors that can access all of these. Remember, you're only looking for your
next deal and it might take a handful of these bird dogs, these realtors to go out
and find them for you and so this is the first person that you want to bring on
to your power team. Now in the next video, Steven and I are going to hop back on, we're going to
be talking about how you fix these deals and how you fund them but not you.
Remember, if you want it done right, don't do it yourself. We're going to teach you
how to build a team that can help make that happen and if at any point in
watching this three-part series, you're interested
in what it would be like just to use our power team, then click the link
up here and we'll give you a shortcut, have a conversation with us and our team
and we'll share with you our track record our last 3500 homes, we'll share
with you the best markets that we're going in. In fact, if you click that link,
we'll actually show you some of the properties and some of the reports right
now. Where we're headed next is we're going to tackle fixing and funding and
the two next key players you need on your team to make that happen. Come back
tomorrow for part two, we're going to be sharing with you the next steps on how
you build your real estate power team and by the way, if you are not a
subscriber, if you haven't rung that bell, do so right now because we want to let
you know when that video hits.