There are 6 Key Areas in your house flipping business that need to be optimized for the most efficient and profitable business.
In this episode, we're diving into the 3rd Area which is Attracting. We'll discuss the 3 reasons why you're likely banging your head against the wall because you're not attracting the right deals.
The great news is that it's all FIXABLE! Just have to know where to focus your fixing efforts first.
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You're listening to the flip houses like a girl podcast where we educate, empower and celebrate everyday women who are facing their fears, juggling family and business, embracing their awesomeness and wholeheartedly chasing their dream of flipping houses. Each episode delivers honest to goodness tools, tips and strategies you can implement today to get closer to your first or next successful house flip. Here's your spiky haired breakfast, taco loving host house flipping coach, Debbie DeBerry.
Hey, what's going on today? I hope that, as always, whatever you're facing today, I hope it's easy and light. And some sort of reprieve from a lot of the chaos that is happening out there. All right. Today, I want to give another shout out, y'all I just can't tell you how amazing this community is. Inside my coaching program. I just can't tell you how amazing it is. You would just have to experience it. And every time I tell someone, don't worry, you're gonna love it in here. I know that they have doubts. And then they get in. And their first post inevitably is oh my gosh, this place is amazing. I didn't know it existed. So a shout out to Gosh, I think we have six closings happening this week. Just this week alone. We've got they're all let's see four of them are purchases of first flips. And another one is a sale, right? cashing in. And then another one is mine. And it's a sale. All right. So we are all doing the thing. Big shout out to my people. I love you guys. And I'm just inspired by you daily. So keep taking those little steps. They all add up. And they're also all necessary to get to that big goal. All right. If this sounds like the kind of party you want to come to, we'd love to have you. We encourage like minded women to get on our waitlist. All right, go to first flip done right comm get on that waitlist. And you'll be notified just as soon as we have some openings for you. I don't make people wait too long, typically. But I do a rolling type of enrollment so that I can control the number of people who enroll at a time because I do give so much of my personal attention. I don't want people to fall through the cracks. So I'm very mindful at the number of women who join at any particular time. So go to first flip dunrite.com get on that list. All right, let's jump into it. All right, let's continue the conversation about the six key areas of your house flipping business that could potentially be a spot that is broken, or needs to be tweaked or needs some adjusting. Right. Okay. Same thing. Okay, so just a quick recap. The six key areas are the foundation of your business, the targeting, attracting, converting, rehabbing and selling Alright, so we've talked about the foundation, and we've talked about targeting. So this little video is going to be about attracting and what do I mean when I'm talking about attracting? I'm talking about marketing. So what are you doing to find deals, what are you doing to not just find deals, but attract deals, okay? attracting being the operative word. So there's a very big difference in energy around chasing, chasing, chasing, chasing, right? If you've been looking for a deal solely off of MLS, or solely from wholesalers, you probably feel like you're chasing because that's the lowest hanging fruit with the most competition. Okay, so if you're anything like me in the past, I felt like I'm chasing when I'm just when I was just focused on those two lead sources, right? It is Chase. You got to get out of that mindset because that is that is not attracting that's chasing after that's pushing, really okay. So we want to do things that actually pull deals to us. And not just any deals, we want. Super targeted deals, we want deals that we would actually Buy, renovate and sell. Right? Okay. So when we're talking about marketing, it is, and you've heard me say this before this whole business, any business life in general, is mostly mindset, right? 95% mindset. Because if you continually tell yourself, you can't do this, guess what? You're not gonna be able to do it. All right? It's mindset. Okay? When it comes to marketing, the biggest mindset obstacles tend to be around paying for marketing. So you don't want to invest in marketing, right? Did you hear that term invest. So a lot of people don't consider it investing in marketing. Marketing is 100% investing, because you've got to actually do it, right, spend money on it, so that you can then determine what's working and what's not working. And then you can just, you know, make adjustments accordingly. It has to be looked at as an investment, it's a means to an end, okay? Now, there are free ways to buy to find a device to find houses. There are inexpensive ways to find houses, right, you can try for dollars, there are so many things that you can do, whether free or paid. But you've got to do them. And a lot of people can't get past that. Without going and doing, they can't make that commitment. Because it's a it is a commitment. Right. So the things that I see there, the three top areas I see that are are three top signs that I see if you're not doing the attracting, right, or if the attracting part of your business, could use some adjusting the marketing part of your business could use some adjusting here are three signs that'll tell you why. If you watch the last video on targeting, this one will look familiar. Right, you're not doing it, if you're not doing any marketing, that's a problem, that part of your business is broken. Okay. And the beauty is that there are really easy quick fixes, you start doing it right. So, okay, the second sign is that you're not doing it consistently. So it's inconsistent marketing, meaning maybe you send out, I love this, I love this, because I can totally relate to this. When I first got into real estate, it was, you know, it was a push for me, it was I had to get out of my comfort zone to really invest in marketing. And so what I would do is I would send out a mailing, and No, nothing. I didn't get anything back. Nobody called, nobody responded, nothing. This was before all the internet stuff, right. So it was mostly like off market, or offline marketing. So one mailing and I decided, yep, this doesn't work, told you it doesn't work. Okay, that's not, that's not marketing. We can't, we've got to have some realistic expectations, we can't just send one thing. And I think I might have sent like 50 letters, okay. That's not, that's not marketing. So you've got to be consistent, meaning commit to doing that one thing, whatever it is, you're going to commit to doing, whether it's driving for dollars and finding, I don't know, 50 houses a month that you're going to target the sellers, just using random numbers, okay, but have some metrics behind it. So you can have some goals. Or if you're going to do some mailings, you've got to commit to doing it for at least three to six months, really more towards six months, I say three, so that you will actually start doing and get over that initial urge not to do it, okay, but you've got to do it consistently. Alright, so choose something and do it consistently, for at least three to six months, six months. All right. And then the third sign that you're attracting can be improved, is it isn't targeted marketing. So if I were to send out letters, and I got a call back, and it's somebody who I mailed them a letter, and their house is in pristine condition. It's a brand new construction. They've lived in it. It's like six months old. They live in it for six months. Does that seem like a house, that would be something I could work with brand new construction, six months old, they've lived there for about that time, right? Six months, though that's not that's not a deal that that's not a deal that you buy, renovate and sell. Like it's in pristine condition. So that isn't a targeted lead. So we have to get super dialed in. Remember the last video about a trick about targeting? Right? That's, that's what we're doing here. We are now marketing to those targeted areas and properties and owners that you identify in the targeting section, right and the targeting part of the business. Okay, so now we're marketing to them. And it's got to be super targeted. Okay, because it's more efficient that way. That might mean that instead of sending 5000 mailings out to you know, 5000 households that aren't really targeted, it might mean that you're sending out 500, but it's really targeted. Okay, so I would rather choose the that route, the efficient route of sending 500 mailings versus sending 5000 in like a machine gun style approach, right? Because it's more efficient, more cost effective. It's just smarter. So I urge you to get over the resistance, around marketing. It changed my business, it has changed all of my businesses, when I finally actually started doing marketing consistently, and in a smart way, meaning very targeted, and I'm very targeted in all my businesses. It changed all of my businesses. All right. So I know it's hard to spend money when we don't know what's going to happen. Right? The uncertainty of it. It's hard to have the testing mindset. But I promise you that that is what all successful business owners do. All successful businesses market, if people do not know that you are available, and that you have solutions, how are you ever going to be that solution provider, and it can be as small as announcing on social media, that you are looking for houses to renovate? A lot of people won't even do that. Right? That's scary. Because what if it doesn't work out? And then I look like a total failure in front of my friends. This is all mindset stuff. Okay? Got to change your mind around these things. All right. So that's attracting, that's marketing. For the purposes of this little video, okay, so if those three things, if these any of these three signs resonate with you, like you're not doing targeting, or you're not doing marketing, or you're not doing it consistently, or it's not targeted marketing, then those are like, that's a huge awareness to have. Because now you can dial in on that and get super targeted and super efficient and your business can change. All right. Okay, you guys. Until next time, leave people in places better than you find them and make it a great day. Bye.