Cut Out The Noise And Do These 3 Things

Dan Austin: [0:02] Welcome to the Collecting Keys Friday Focus. Hey there. Welcome back to another episode of the Collecting Keys Friday Focus. These are the episodes where Mike or I just take a few minutes to do a deep dive on a topic that's relevant to us throughout the week, or just something that's top of mind for us. Today, I will be your host, Dan Austin, and I want to extend our conversation that we had on our last episode of the Mike and Dan show, which dropped last Wednesday. If you haven't listened to it, go back and listen to it. It's a good episode, where we really talk about just cutting out the noise in this medium fear mongering cycle that we constantly see getting beat up, and it's a lot about the economy right now, and all this bad stuff going on. So I wanna talk about cutting out that noise, and then giving you three things you can do right now to ensure that you're able to successfully keep or start investing in a market. And it's really important, I think, just to step back and and recognize what's going on around us, and then you can believe me that cutting out the noise might be beneficial. You know, we talk about things like the Ukraine war that's going on, and all the geopolitical issues with that.

Dan Austin: [1:10] We talk about inflation, and how the Fed's doing good, or how the Fed's doing bad. Elizabeth Warren out there is yelling at Jerome Powell that he's ruining unemployment, he's trying to put Americans out of work, and all sorts of stuff in the media just around that. And then the big one right now is like the petro dollar, oh no, China and Russia may stop trading between each other in US dollars, and it's like, it's funny because yes, that's kind of an important thing, but at the same time, if you go and you watch a lot of the media outlets and the personalities pitching that, you know what they're saying? They're saying, oh my god, this is the worst thing ever, get into gold, get into gold. By the way, here's my link if you wanna go buy gold. They always have an affiliate relationship, they always own some sort of outlet for selling gold or buying gold. It happens every time that they get a chance to pitch buying gold, anytime they do it. Right? And they're like, look at how well gold's doing, you need to be in this. It's a terrible investment. Don't do it. Just keep focused on what you're doing with real estate. And I I posted on my Instagram, if you don't follow me, investor man dan, you should follow me. I like to post funny things or or what I think are funny anyways, because I always think there's a great truth, underlying truth with with comedy, and it makes you think maybe a little bit deeper than you than you would have otherwise. I posted a Dave Ramsey vid clip of him talking about, hey, if the central bank collapses, buying gold is not what you need to be worried about.

Dan Austin: [2:31] You need to be buying bullets if that happens. Meaning that, if this whole petro dollar issue, and the dollar collapses, and the the Federal Reserve, or the the Central Bank in The US collapses, all this stuff, if that happens because of this petro dollar idea, really, if that happened, you'd be in so much trouble, we'd all be in trouble. It wouldn't matter if you were invested in gold or not. What you need at that point is tangible items. And I think it's funny, most people in real estate don't listen to Dave Ramsey because they don't like that he's against leverage. I agree, I'm for leverage. I don't agree with 90% what Dave Ramsey says, but in this case, he's absolutely one thing he I do like about him is he hates gold. It's a terrible investment. I believe it is, he knows it is, and everybody else should know that it's a terrible investment. And so, the point in me bringing that up though is, don't let the fear cycle scare you into not investing in real estate, or stopping from starting investing in real estate, because that's exactly what it is, a fear cycle that sells clicks, or that gets clicks to sell advertising. Stop. Here's a few things that I think you need to be doing, just to kinda weather the storm, get through the fear, get through all the noise, cut through all the noise, and keep moving forward. First thing you need to do is take a look at your market. Analyze your market and see what has worked for you in the past. Get back to the basics on this, see what other people that are moving and shaking are doing.

Dan Austin: [3:52] If you're just starting out, do the same thing, look at that market you wanna invest in and see what successful people or people that are actually making things happen, what are they doing? I can tell you from my experience, you know, Mike and I, think we're marketing in like 20 different markets at this point. What I'm observing is investors going back to the basics. They are buying slightly below medium priced homes. They want them to be those starter homes for the families. If they're buying to keep, they're not trying to buy anything crazy, unless they have like this niche, super niche business dialed in, you know, to where a couple years ago, people would flip things that were on the fringe, that were on the high end of the market, the extreme low end of the market, you whatever you did, you just threw it up and you made money, right? Those days are over, so get back to the basics, and I would I would agree, start looking at your market, and where you can carve out a niche for yourself in that slightly below medium price point homes, and looking for flippers and other investors that want those types of deals. The second thing you need to really do is focus or refocus your marketing if you've gotten on track, and stay consistent. Most importantly, stay consistent. What I mean by focusing and staying consistent is, don't get cute with anything fancy, don't try things that are are untested right now, go and look for motivation.

Dan Austin: [5:09] And when I say motivation, I'm talking those bankruptcy lists, those liens lists, those sorts of financial distressors, and go just pick those, stack those lists, and consistently mail those types of sellers that have that financial motivation to sell, that need your help and support out there to come in and take off potentially a bankruptcy or something off of their hands. And I can't stress enough how being consistent is. Don't get scared and say, hey, I'm gonna stop for this month because, you know, all of a sudden, the media said something I don't like, so I'm gonna stop this month, or I'm gonna wait this one out. I'm gonna wait I'm gonna wait it out three months, four months, five months, six months. You'll wait forever, because it'll never be good enough to get back in for you. So I would say, just keep marching forward. If again, if you're new and you're just starting out, stick to those core lists, those bankruptcy lists, those liens lists, those foreclosure lists, because those are going to be the important ones that are going to just be consistent, and from our experience, we'll keep feeding you good qualified leads, and you'll be able to find some great deals and some gems in there to sell to your other buyers, or flip yourself, or to bury yourself. Okay, so the last thing that I'm just gonna talk about here is, if you've been in marketing and you've been investing for a while, take the time right now and go back through your leads, and make sure you're executing follow-up. This is a basic thing, Mike and I preach all the time, but you know, we recently really took a deep dive in our home market, and our backlog of leads, and focused on digging up what we can out of those, because other investors that were marketing to them, stopped marketing to them, right? And they're probably not on your list if they already came into your CRM, because you usually pull people off your list as they've called you, and we've already got just four appointments in one week off of some of our backlog leads, and we're probably gonna buy at least one of those properties for sure.

Dan Austin: [7:13] And so, it's taking the time to go back and really comb through those, look at leads that have already sold, pull those out, make mark them dead and all that sort of stuff. But those leads that you just had that open ended conversation with, or you thought at the time, even though it was a year ago or two years ago, you're just like, yeah, this is a dead lead, I'm never gonna get across the finish line, Give them a call, and you'll be surprised. And that and just be consistent with that. Go through that. Hit your follow-up. And I think when you combine that with assessing your market and dialing in what's what's working well in your market, and what's what's keeping the lights on for most other investors, and also staying consistent with your marketing. I think that with with the follow-up is going to really help sustain your business and keep you moving forward. And what I just shared with you isn't like some fancy, crazy system or model. It's not a high cost model. It's just getting back to the basics and doing the three things that Mike and I do every day, and we're showing quite a bit of success within our business doing these things. Otherwise, I would not share this with you and fluff you with this information. So anyhow, I'll stop blabbering there. If you like this episode, or you wanna know more about what my thoughts are on this, hit me up on Instagram at investor man dan. I love talking to listeners. You have a topic you wanna hear on a Friday Focus, hit me up on Instagram and send me the topic, and I will for sure talk about it on a Friday Focus or bring it to a Mike and Dan show.

Dan Austin: [8:36] If you have guests you wanna hear on the show, let us know too. And then I'll just close it out with, if you do like these, go give us a five star review. We're starting to see really good traction of the podcast, a lot of rapid growth recently, and the way that happens is by getting five star reviews, and also sharing our episodes with other people that you think might benefit from this. So without further ado, I will sign off. Everybody have a great weekend. Thanks for listening to this collecting keys Friday focus. Be sure to subscribe wherever you listen to your podcasts.