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The holidays are here! Time to kick back and relax for a while…right?! Not so fast—Thoughtful Real Estate Entrepreneurs use this time of year not only to enjoy family and relaxation, but also to keep our real estate endeavors moving forward at full speed. In this episode, Jeff outlines and discusses the three important things that you should be doing during the holiday season: Reflecting, Connecting and Marketing. Plus, Jeff provides a bonus fourth focus for your consideration—a competitive advantage you may have during the holidays. Tune in and learn!
The holidays are upon us. So what are we supposed to be doing as real estate entrepreneurs right now? I mean, just kind of kicking back and enjoying the warm cozy fire, maybe some falling snow and family time. Well, we should be doing that. But there are some other things that we should be doing as real estate entrepreneurs as well. In this episode, we’re going to dive into a quick simple discussion of three things we should be taking advantage of this time of year. To do let’s cue the theme song we’re going to jump right into it.
Welcome to Racking Up Rentals, a show about how regular people those of us without huge war chest of capital insider connections can build lasting wealth acquiring a portfolio of buy and hold real estate. But we don’t just go mainstream looking at what’s on the market and asking banks for loans, nor are we posting We Buy Houses signs or just looking for “motivated sellers” to make lowball offers to. You see, we are people-oriented dealmakers, we sit down directly with sellers to work out win-win deals without agents or any other obstacles, and buy properties nobody else even knows are for sale. I’m Jeff from a Thoughtful Real Estate Entrepreneur. If you’re the kind of real estate investor who wants long term wealth, not get rich quick gimmicks or pictures of yourself holding fat checks on social media. This show is for you. Join me and quietly become the wealthiest person on your block. Now let’s go rack up a rental portfolio.
Hey, thanks for joining me for another episode of Racking Up Rentals. A show notes for today’s episode are going to be at www.thoughtfulre.com/e54 for episode 54. Hey, please do us a big favor and hit that subscribe button in your podcast app right now, just take a second to do that. It does truly help other people to find our show who are looking for a group of folks in a school of thought, like we talked about here as thoughtful real estate entrepreneurs honored with the episode.
So in today’s discussion, we want to talk about three things that we should be doing during the holidays. Now, it can be a little bit of a funny time, right? You’re not really sure. Maybe what you should be doing, you’re probably kind of, you know, tired, weary from a long year already, especially let’s be honest, this year, which has been full of just unbelievable surprises around every corner, then there’s also kind of this question about what is sort of appropriate to do what is socially acceptable to do are there people who we need to be talking to, and namely sellers, who just don’t want to be hearing from us right now. And what is right and what is wrong, are we going to waste our money on marketing and things like that. So I want to go over three things that we should be doing so that we’re not accidentally inadvertently feeling distracted, or taking our foot off the gas more than we really intentionally want to, and continuing to move our business forward in the meantime, but also starting with a bang for the next year. So the three things we’re going to have a brief discussion about here today in this episode are reflecting, connecting, and marketing, reflecting connecting and marketing are three things that we should be doing. And I’m going to give you a bonus fourth one, as soon as we wrap up our conversation on reflecting, connecting, and marketing. So let’s just take these one at a time reflecting.
This is such a natural time of year for us to be thinking about where we are, we should be thinking backwards and thinking forwards. So this year, we really need to ask ourselves the question, what went well, and this is part of an activity of just being positive. Because as entrepreneurs, we’re usually so focused on where we’re going, we’re so focused on that vision and frankly, on kind of measuring the distance between where we are, and where we’re trying to go or where we are and where we think we should be. That it is a little bit discouraging sometimes and so we have to remember to look backwards actually, to turn around and look backwards and remind ourselves where we started. That could be starting the journey at all, it could be starting the journey this year. But looking backwards and appreciating what we have accomplished. So the question with reflecting is what went well, and it’s also okay, and totally appropriate and valuable to note. What didn’t go well, what didn’t go as planned, what things did we not perform on in the way that we wanted to? So looking backwards and reflecting is really important. The next thing we need to do though, is look forward. And there is a question that Dan Sullivan, the founder of Strategic Coach, which is an entrepreneurial, not real estate specific, but group coaching program that I’ve been a part of for a long time, likes to ask and he normally asks this question on a three-year timeframe, but I would encourage you right now, to ask the following question. With a one year timeframe, and the question goes like this, if we were going to meet back here in 12 months from today, and you were feeling like those 12 months, since we last spoke, had been success for you, what would have had to have happened, both personally and professionally, for you to feel that way, like these 12 months have been some of the best of your life. We call that the R factor question. And it’s so valuable for you to project out into the future, what would need to happen for me to feel so good about what had taken place over the previous 12 months. And when you focus on that, you begin to create the ability to actually make that happen. And the third thing I like to think about when I am reflecting is, what would the best version of myself look like, at this time next year, if I think about the best, Jeff. And I mean that professionally, in terms of my business accomplishment, accomplishments in terms of my personal life, in terms of my health, and my fitness, and my creative expression, and my role as a husband and my role as a brother and a son, and all those things that I do, what would the best version of myself look like. And when we hold that vision of our best version in our minds, then we are much, much more able to work towards it. Even when we don’t realize we’re intentionally doing it because we planted that idea in our subconscious. We are working towards it all the time.
The second thing I want to talk about is connecting. Connecting is all about our relationships with other people. And as you will not be surprised at all to hear the way we do things as thoughtful real estate entrepreneurs is really all about people, we are really in a people business, the way that we get things done is by working with people working with sellers who agreed to sell us our properties, working with tenants who agreed to rent our properties, working with buyers who might want to buy the properties we own or have our properties that we’ve tied up assigned to them in a wholesale context. But it’s really all about people and understanding those people. And so we’re kind of always looking for excuses to reach out to people and to be in touch with them and to touch base and to catch up with him. And there is no better excuse than that the natural built in opportunity of the holidays, to reach out to people. Right before I sat down to record this episode, I just dropped several Thanksgiving cards in the mail to the people who I do some business with people who are my lenders, people who have done seller financing with just to say, Hey, thank you, I want to show you that I’m grateful for you. And instead of even waiting until Christmas, or New Year’s or anything else, I’m actually sending them Thanksgiving cards right now. Because Thanksgiving means gratitude and gratitude is what I want to project to these people. So connecting is about reaching out and talking to people that you do business with that you want to do business with relationships that you want to keep warm, etc.
And our third focus is marketing. I actually was just on the phone with a friend and a peer of mine who is doing some direct mail marketing himself. And he said that, you know, he’s been sending these letters and getting great responses. But now that we’re entering the holidays, it definitely begs the question is now the right time to be sending these letters, is it appropriate to send these letters is it going to be a waste of money because people are just focused on other things. And so here is my take, as you know, when we do our marketing, it’s usually direct mail marketing. And we know that thoughtful direct mail marketing has a residual value because we send people letters that are worth saving, they’re worth holding on to because they come across very genuinely, and warm and authentic and sincere about our interest in buying this person’s piece of real estate we come across very non-threatening and approachable. And so our, our letters are, they’re worthy of people saving. So that’s why I say they have a residual value because the truth is, most of the time that we send somebody a letter to express our sincere interest in buying their real estate, the timing isn’t perfect. And that’s okay. Because if our letter is worth saving, then they will do exactly that. They will save it until the time is right. So I would say don’t wait until January to continue or start your marketing. I would not want to have letters dropping in people’s mailboxes literally on, you know, on a holiday like on Thanksgiving or on Christmas Day or on New Year’s Day.
I guess there’s not mail service those days but you know what I mean, you might want to steer clear of, of delivery dates by a couple days with those, but I would say don’t wait. Don’t wait because people are right now doing exactly what we just said in step number one we’re doing, they’re reflecting, they’re thinking about their lives, their business to some extent what they want what they don’t want anymore. And they might be getting in a mood right now to make a change in their real estate portfolio. Because the truth is, for a lot of people, when they when they divest themselves of real estate, it gives them more freedom, it gives them more flexibility. And some people have new year’s resolutions around selling properties, just like you and I might have them about buying property. So I would say don’t wait. And if you are going to wait, I would suggest that you have all of your letters, teed up, pre stamped, preprinted, pre-assembled and everything, so that they can go in the mail on January 2, don’t wait till January 2, to say, I should probably start thinking about marketing again. And then by January 9, you’ve kind of got your stuff together. And then by January 15, or whatever, you’re finally starting to get some letters out. Keep up your momentum right now with your marketing. And don’t be afraid because you’re sending quality, worthy of saving residual value type of marketing as a thoughtful real estate entrepreneur. So we’ve had our three, and I told you there’d be a bonus or three focuses for this time of year are reflecting, connecting, and marketing.
And the third, or the fourth bonus thing that I want to talk to you about right now, is the idea that other people sometimes take their eye off the ball at this time of year, right? It’s understandable, right? That’s what we talked about the very beginning of this episode as well, maybe we should just kind of lay off, maybe we should just chill out, maybe we should just sit by the fire, focus on family and friends and holidays and gratitude and all that. But other people are doing that, too. So how is that relevant to you? Well, as you know, I don’t really almost ever, never look at what is listed on the market. properties that are listed through realtors on the multiple listing service is not my game, some idea of a good time some idea of a great negotiating dynamic that I want to have. However, I do tend to do that right around the holidays because people take their eye off the ball. And suddenly, if there’s a property that’s listed right before Christmas, for instance, I would say that’s probably not a good idea on the part of the seller and the listing agent. But that also means that there aren’t as many other buyers and buyer’s agents paying attention. So the question really becomes I guess this can manifest itself in lots of different ways. In this, you know, listed property scenarios, probably just one of those. But ask yourself the question, how could I benefit from other people in my, in my market in my community, my competitors? kind of check it out mentally for a couple of weeks? How could I take advantage of that maybe there are new deals becoming available that other people just aren’t seeing? Because they’re just not checking their email, they’re not focused on that. So while other people have their eye off the ball that could create opportunity for us. So I would say, get your mind going on that. Maybe grab a notepad and a pen, a cup of coffee, sit down for 10 minutes and just brainstorm what could I possibly benefit from where other people are not paying as close attention during this period of time as they normally do? So that my friends is my little set of three and one bonus tip on what to do during this holiday season in the beginning of this holiday season. That’s reflecting, connecting marketing. And also, as a bonus, asking yourself, how could maybe other people taking their eye off the ball be a benefit or an advantage to me?
That is it for today’s episode of racking up rental. So again, show notes are at www.thoughtfulre.com/e54. Please do us a big favor by hitting that subscribe button, it truly helps us. And if you would take just a second to rate and review the show. Just something real quick and honest. should only take you a minute and I would be so, so grateful for that.
Did you know that we also have a Facebook group for thoughtful real estate entrepreneurs? Well, we do and it’s called Rental Portfolio Wealth Builders. So just search for that term and Facebook or to make it easy, go to group.thoughtfulre.com and we will redirect you right there. We’d love to have you join us in that group. If you liked this episode, and I hope you did, please take a screenshot of it post that screenshot to Instagram and tag us, we are @thoughtfulrealesate. I will see you in the next episode. Until then this is Jeff from the Thoughtful Real Estate Entrepreneur signing off and wishing you an excellent beginning of your holiday season.
Thanks for listening to Racking Up Rentals where we build long term wealth by being a win-win deal makers. Remember solve the person to unlock the deal and solve the financing to unlock the profits.
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