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Real estate investing in 2017, here’s what’s happening….
Happy New Year! 2017. Hustle
Goals. Have you set them? Go back and listen to:
Where the podcast is going
Finishing up series on investing
Mindset and foundation to get you prepared to be a real estate investor.
Marketing – 19 episodes – You need leads!
Share more of the day to day. My friend Erik always complains that I never talk about what I’m doing. Everything is top secret and it drives him nuts.
What’s happening in 2017 – bringing the hustle back
House Flipping Business Goals
▪ 108 deals (2/3 or more wholesale)
▪ Growing team
▪ Expanding online lead generation and testing
▪ Melissa heading up the operation – me more consulting role
Real Estate Investor Software Business
▪ Major improvements to LeadPropeller (editor improvements, custom forms, more services)
▪ REImobile will be transformed to fit our operation better and focus on the needs of growing flipping businesses
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Danny Johnson: This is the Flipping Junkie podcast episode 59. [music] Welcome to the Flipping Junkie podcast. My name is Danny Johnson; former software developer turned house flipper, flipping hundreds of houses. Each week, we bring you interviews, strategies, stories, and motivation to help you get started flipping houses and on your way to becoming your own boss and achieving financial freedom. Thanks for spending time with me today. Now, let’s get to it.
Happy New Year 2017! My word for 2017 is going to be hustle. The reason why I’m going to make it “hustle” is because I feel like over the past several years I’ve been doing a lot but not really at the level like I was when we first got started in the house flipping business. I want to get back to really working hard and getting into it and just really trying to get a lot done this year. So this year it’s going to be all about hustle, it’s going to be about setting huge goals and accomplishing them as best we can. It’s going to be exciting. It’s really, really pretty awesome. We just got back from a trip to Ruidoso, New Mexico and went snowboarding, took the whole family snowboarding and that was quite an experience because none of my family has been snowboarding. I’ve only been twice. But my wife and kids have not so that was pretty interesting. We had a blast. Luckily, nobody got hurt. We just had a lot of fun, so that was great.
But today, I wanted to just share with you guys about 2017 and making it count and what’s going on with the podcast and what’s going on with our businesses and the direction we’re taking because it’s going to change a little bit and I wanted to share with you guys what’s in store, so it’s going to be pretty awesome.
First, let’s talk about goals though and I’ll share with you some of our top-level goals and what we’re doing. But I want to ask you if you’ve set your goals, and in the beginning of the year you’ve got to set goals, you’ve got to know where you’re headed so that you can plan out what you’re doing to make sure that you’re achieving those goals. A great book I just thought of that I had read in the past a year or two ago was The One Thing By Gary Keller. That one is an awesome book about goal setting and focusing on the task that’s going to move you the furthest or closest to what you’re trying to achieve. So check that book out, I’ll put a link to it in the show notes at Flippingjunkie.com/59. I can’t believe we’re on episode 59.
But if you haven’t set your goals or if you’re having trouble struggling with setting goals, I urge you go back and listen to episode 18. That was episode 18 that was 5 Steps To Setting and Actually Achieving Goals with Marcus Maloney. That was an awesome episode. Go back and listen to it. There’s a lot of nuggets in there, a lot of great tips for setting your goals so that you can actually achieve them. Nothing’s worse than a bunch of vague goals that aren’t actionable, aren’t measurable and just leave you feeling sort of stuck because you don’t really know where to start. You’ve got to focus on setting these things that you can set up and do the pieces and focus on the first step.
We drove to New Mexico and that was about a 9 to 10 hour drive I think it was and it’s kind of daunting when you first start a road trip like that and you’re thinking you got so many hours ahead of you. What I always focus on is just the next milestone So if there’s a town an hour away, I’m always thinking, “Okay, well I’m almost to that town, I’m almost to that town.” When I get to that town, I’m thinking about the next town. I’m not thinking about the destination that’s so far off. I’m just thinking about the next milestone which is usually the next major town or city. That’s the way it should be with goals too. That’s pretty obvious, I guess.
But let’s talk about where the podcast is going. We started the podcast, I was doing interviews. The first interview was with my father. That was an interesting episode. If you haven’t heard it, go back and listen to that one, it’s at the very beginning. I did interviews and I felt like the podcast was sort of all over the place. We didn’t have a clear direction. I was interviewing people, we’ve talked about different topics, it’s kind of cool. But I wanted to set something up to where it was sort of like a podcasting course in real estate investing that would have everything sort of in order. So if you were new, you could start at the beginning and go through all of it. And if you’re experienced or something, maybe you just go to the middle or learn more about what you’re interested in learning about but it’s easy to find. Because I look at most other podcasts on iTunes and it would just seem like there was no rhyme or reason to the order of it. So it’s kind of hard if you’re looking for something specific to be able to find. So you’ll notice in brackets on a lot of the names of the podcast episodes that we have on the Flipping Junkie Podcast, it will with something like motivation or team building, stuff like that.
So we started with mindset and foundation to get you prepared to be a real estate investor, to have the mindset and the correct foundation to get you through the tough times and where people struggle. Then we went into team building. Nobody can do this on their own. You’re always going to need a team whether that’d be just a realtor or whether that’d be contractors to fix up houses and stuff like that or building a bigger business that have people in the seats doing the right jobs that they enjoy doing. So that was team building.
Then funding was the next section of the podcast. We did several episodes on funding, be that with joint ventures or with private lenders or hard money lenders, we covered all those different things. Then we moved into marketing and man, I’ve always been fascinated with marketing, with generating leads. It’s been the thing that interested me the most from the beginning and I’m always just trying to think of new ways to finally just try to think of things that people haven’t thought of, different ways to reach people what would want to sell a house quickly that maybe other people aren’t targeting. We did 19 episodes I think is what I counted. Nineteen episodes on marketing. So, you got to have leads. If you’re going to flip houses, you got to have leads whether you’re getting them off the MLS or whatever or marketing to motivated sellers, marketing to people wanting to sell their houses. You need leads. So we got 19 episodes so far in that sequence that we just wrapped up and we finished up with online lead generation which is my favorite. I get my best leads from online because they’re actively searching for people to buy their house and you got to be there to find them. So, last several episodes, we’re about doing that. I think we had four episodes on online lead generation. That leaves us with where we’re at now and what we’re going to do in 2017.
So basically, I’m going to finish up the series and we’re going to talk about deal analysis, estimating repairs, making offers, following up, rehabbing the houses, selling the houses, wholesaling houses. So basically everything from getting the lead to turning it into a deal, to dealing with that deal either fixing the house up, wholesaling and then selling it. We’ll cover all those things and really get into detail and cover some of the things that come up in those different scenarios and different parts of the process of flipping a house. I think it’s pretty awesome to do those, to cover every single section like that because there’s a lot of stuff that you can learn on a course or you can learn in a book. But when you actually get into it and something comes up that wasn’t covered because it’s such a minute detail that doesn’t come up every time, knowing how to handle those kind of situations. So I really hope to dive deep into each of those to try to cover as much of those sort of scenarios that come up so it will be fun.
After that and even in between, maybe some of those parts of this series and podcast, what I want to do is I want to do some more short episodes. I want to do record some short podcast episodes sort of like what I’m doing now with today’s episode. I want to share more of what we do day to day. I want to share more about the software business. I want to share more about our flipping business and how we’re growing it. I guess I’ll say because it’s kind of funny but my friend Erik here in town, he always complains that I never talk about what I’m doing. So we’ve gone on trips before because he’s into aviation also but we’ve gone on trips before and came back and I would do some kind of launch or I’d do… like I think I launched a course after Freedom by Flipping course. I think I launched after one of our trips. He called me up or emailed or texted me or something and said like, “Man, what’s this? How come you didn’t say anything about this? We were just on a trip for like 3 or 4 days together and you never mentioned this at all and then we get back and you’ve got this huge launch that’s unfolding. It’s pretty crazy.”
So I guess I keep things sort of top secret, it’s kind of weird, but that drives him nuts. But I’ve been thinking not about the fact that he said that but just more about the podcast and more about how I really want to do share more about what we’re doing in our business, because it’s interesting and people want to hear about it. I thought about Flipping Junkie when I started the blog and was doing the daily thing where I was showing how we’re getting all of our leads, the calls, the analysis of the deals. All that kind of stuff that became the Flipping Houses Exposed book. You know, it’s pretty cool and I had a lot of interaction, a lot of response from that. I think I want to turn the podcast into more of that sort of day-to-day what’s happening. As things come up, I can shed some light on them or talk about them on the podcast and so that you get more of that detail of the stuff in the trenches that maybe you don’t get in a course or book because it’s such a thing that maybe just pops up from time to time and how we deal with it. I don’t know, pretty cool but I want to do more of that.
So back to sort of our top level goals, obviously I’ve got physical and family and spiritual goals and things like that but as far as business goes, 2017, bringing the hustle back is going to be… you know, the house flipping business, we’re scaling up. We’re scaling up big time and we’re growing the business, hiring people and growing the team. The goal is to do 108 deals this year, 2017. Probably about I think it’s 2/3 or more are going to be wholesale and then the rest 1/3. So maybe a little bit less will be fix and flip. So we’re going to grow the team to do that. And my beautiful amazing wife, Melissa, is basically heading up the operation and I’m more of in a consulting role in meetings and helping with guidance and stuff like that. But she’s a rock star and she’s going to handle it. And we’ve got Grayson helping out and growing the team. It’s just exciting. We had our meeting this morning talking about 2017 and goals. We broke it down starting from the goals – the number of deals that we want and then we broke down how to achieve that, how many leads are we going to need to generate, where are we going to generate those leads, what’s it going to cost, and who do we need to fill, what positions we’re going to be filling, all that kind of stuff. So, it’s pretty cool getting all that planned out and doing that. So we’re pretty excited about it and we’re going to be expanding online lead generation and testing and doing some more advertising and finding stuff that works now, new stuff to help increase the number of leads and deals that we do. So it’s pretty exciting and I’ll be sharing a lot of that stuff as well. I just love finding out ways to get leads. But growing our buyers list, doing more wholesaling and all that.
So that’s for the house flipping business and then the real estate investor software business is basically lead propeller and then REI Mobile. REI Mobile is the CRM system. It’s actually going to be transformed completely. It sounds kind of weird to say even with a little bit of rebranding because I’ve never really liked the name REI Mobile. But yeah, so it’s going to be very, very awesome. Basically, we’re transforming that to fit our operation better as we grow and we have the team members and communication is important and tasks are important, deal flow is very important. We’re building everything around that because we want it to be very easy for us to be able to see where we’re at, what our goals are, how we’re meeting them and where the ball is being dropped, all that kind of stuff. So we’re going to build it for that. It’s just going to be the best thing out there. I have no doubt at all in my mind that it’s going to be the absolute best offer for us investors, so keep an eye on that. We’ll be doing a big launch several months in and we’ll be talking a lot more about that. It’s incredibly awesome. I love the fact that as we grow, we find more of what’s necessary and what’s needed including from users that we already have in the system sharing with like Paul and Kyle, all you guys sharing what you’re using, what you’re needing and doing all that, and improving this stuff is just that it’s super awesome to collaborate like that and to build this out, to be something that’s really tailored to investors that are growing their business and operating at a higher level, so it’s very awesome. Then for Lead Propeller, the real estate investor websites, we’ve got a lot of major improvements coming. We did a lot this year with it. We’ve just released a lot of new things like the local phone numbers. We’ve got our ad words management. A lot of people don’t even know about it because I guess I don’t mention it too often but we do ad words management, got SEO services. All that kind of stuff is part of Lead Propeller. We’re going to be doing some major improvements though with editor improvements, custom forms and more services for advertising which is going to be very cool. Some of the Facebook and Google retargeting, all that kind of stuff. Probably basically a one-stop shop for everything really. And it’s just exciting to be able to work on this and have these ideas come to fruition and get input from other investors as we do it.
So that’s basically 2017. It’s going to be the year of the hustle, going to be working really hard and getting all these things growing and going at the same time. Very exciting and I can’t wait to share all of it with you. Like I said, I’ll have some shorter episodes intermixed with the podcast series that we’ve been doing, but just more sharing what we’re doing the day in and the day out, fun things that happen, things that we learn, problems we come up against and just more of our real day to day operation and real-world experience and what happens. It’s not always fun and easy. You get the situations that come up and we’ve had some of this come up and you just get to get through them and it’s amazing when I look back. Some things like problems would come up like a tree at one of the rental properties. We had strong winds a couple of weeks ago and one of the large trees at one of the rental properties that we have blew over and landed on the neighbor’s car. Stuff like that, you can really let it ruin your day but at the end of the day, really all it is is a couple of phone calls to the insurance company and having things kind of taken care of.
So finding out how to put everything in perspective and everything like that is pretty interesting and looking back over time on some of the things that have gone on, and I’ll probably share some of the history stuff to. So hey, Erik, there you go. Not everything is top secret anymore, I’ll be sharing some stuff. And everybody have a great week. We’ll be having our regular podcast episodes being released again every week, so I look forward to that and have some intermixed in there too in between for you guys. So if you’ve got anything that you want to share with me, you can always go to Facebook.com/flippingjunkie. That’s the Facebook page and you can always reach out to us on that page. If you want to hear something on the podcast or just share something about what you’ve accomplished, I’d love to hear your goals even. If you want to post your goals for us to see and to keep you accountable, go ahead and post those on at Facebook.com/flippingjunkie and probably try to put some more stuff on Instagram also, so it’s Flipping Junkie on Instagram. Check out all of that stuff. Have a great week, guys!