Podcast

Episode #64 – BIG FISH, small pond: Stop Losing Deals & Beat Everyone to the Seller’s Door – Training 1

In a market where everybody is becoming an investor and billion dollar startups get ready to flip a small town worth of properties every week, it’s hard to establish yourself as an investor.

And while many investors might get swallowed by these trends, you don’t have to. In this episode, you’ll hear about the first step to escaping competition and thriving in a market others don’t even survive in.

Listen now if you’re ready to overcome the competition and eliminate the stress of “trying to make it”!

Show highlights include:

  • The first “big pond” you’ll want to tap into if you want to attract motivated sellers (no matter when you look, there’ll always be sellers here!). ([5:48])
  • How bad timing means you miss out on dozens of leads every week–and how to appear in front of homeowners right as they’re looking to sell. ([9:30])
  • Why you should ignore Google’s advice on how to run your ad campaigns. ([16:09])
  • The first place any seller goes before they even think about selling to a corporate investor. ([10:02])

To get the latest updates directly from Dan and discuss business with other real estate investors, join the REI marketing nerds Facebook group here: https://adwordsnerds.com/group

Need help with your online marketing? Jump on a FREE strategy session with our team. We’ll dive deep into your market and help you build a custom strategy for finding motivated seller leads online. Schedule for free here: https://adwordsnerds.com/strategy

To learn more about the BIG FISH,small pond training series, drop dan an email at: danbarrettvip@gmail.com

Read Full Transcript

You're listening to the REI Marketing Nerds podcast, the leading resource for real estate investors who want to dominate their market online. Dan Barrett is the founder of Ad Words Nerds, a high tech digital agency focusing exclusively on helping real estate investors like you get more leads and deals online, outsmart your competition and live a freer, more awesome life. And now, your host, Dan Barrett.

Alright, hello everybody and welcome to this week's episode of the REI Marketing Nerds podcast. As always, this is Daniel Barrett, here from AdWordsNerds.com, and I want to get straight into this week because for the next few weeks, we are doing a very special series. The audio from the podcast this week and for the next few weeks is going to be from a series of video trainings that I did that's called "BIG FISH, Small Pond. Stop Losing Deals and Beat Everyone To the Seller's Door." [0:01:13.8]

This was a multiday, in-depth training I did with a very small group of investors all about how you can stop losing deals, even when your market is being invaded by iBuyers and a million different investors - how you can stop losing those deals, get to the sellers first by using this strategy I'm calling the BIG FISH, Small Pond Strategy. This is going to be a multi video series and this is going to be a multi podcast series. So if this is, you know, the third one or the fourth one or whatever, go back and find the first one and listen to it. If you're lucky enough, this is just the first one. Watch out for it each week. These are going to be very, very special. I mean, this was a really high quality training that we did. I'm extremely proud of it and I can't wait for you to check it out. So without any further ado, let's get into the BIG FISH, Small Pond training series. [0:02:07.2]

Dan: Alright. Hello everybody. This is Daniel Barrett here. Super excited to have you. Welcome back and we are going to get straight into today, folks. We have a lot to cover and I want to get straight to the fun stuff. So let's get started. Today, we are going to take our first step. Our first step towards no longer losing deals to the competition and getting in front of motivated sellers every week who say "Yes" to your offer on their property. Now, let's do a quick recap of what we know so far. Right? So like we talked about in our last video, if we want to be the first investor seller kind of… if we want to be the first investor that sellers come to for an offer, we have to stop swimming in the kind of open real estate ocean where all the iBuyer sharks and your competition are swimming and instead, we have to be a big fish in a small pond. [0:03:06.0]

We no longer want to be the small fish in the big pond. We want to change that up and be the big fish in our small pond. Now, the way we do that - instead of blanketing like the entire market with our ads and targeting every seller who raised their hand wanting to sell, what we're going to do is go after small pockets of sellers who are the most motivated and we target them everywhere online. So by focusing on targeting a few thousand sellers instead of tens of thousands, you can get more mileage out of your budget and start out with a small $50/day ad spend. Now, since we're targeting small pockets of sellers, we can afford to show them our ads everywhere they go online. We're going to be omnipresent. We're going to be everywhere they go. So if they go to Facebook, they're going to see our ad in their newsfeed. If they check out Instagram, our ad is going to pop up as they're scrolling through the pictures. If they open their Gmail, there's our ad again. Right? If they go watch a video on YouTube, our ad pops up again. Right? There's nowhere for these sellers to hide and because of that, we can become the #1 go-to real estate investor in their eyes because we're everywhere. [0:04:17.5]

When they think of selling their home and they think of working with a real estate investor, they are going to think of us. The key here is because we keep adding more and more motivated sellers into our small pond every week, we're never going to run out of sellers we can send offers to and put those properties under contract. So there's no more peaks and valleys in our deal flow. There's no more ending the month without closing a deal. There's no more other investor stealing them out from under us. We can have a predictable flow of leads - right - filling up our CRM every day with motivated sellers and that means that we can close deals and cash checks every week. So this is the power of this kind of BIG FISH, small pond process. I hope this makes sense. Let me know - with all these videos, let me know in the comments - ask questions - let me know what you want to know and I will be happy to get into it. I'd be happy to help you. I'd be happy to answer whatever questions you have, so just let me know in the comments. [0:05:18.6]

So what is the first step? What is the first step to doing this? Say, "Dan, you've convinced me. How do we get started?" Now, if you could see the power of this kind of BIG FISH, small pond ad strategy and how investors use it and you know, you can see how you can stop losing deals to competition. You can see how you can have sellers coming in every day, creating consistent income every month for your real estate investing business. The question is how do you actually start doing that? How do you start implementing it? Well the first big pond that we want to tap into and we want to move fish from that big pond into our small pond - that big pond is Google Ads. Now here are some of the reasons why I almost always suggest that investors start this process with Google Ads. Alright? [0:06:09.8]

So, reason number one is it doesn’t matter what market you are investing in. You are going to find motivated sellers on Google. Right? So according to Google right now, interest in the search terms "sell my house" is at an all-time high. Literally, there are more people using that channel to sell their homes now than there have ever been since the internet was invented. There are 3.5 billion searches every day on Google right now. That is billion with a "B." Right? And so there are more people searching for real estate investors now than at any time in human history and it doesn’t matter whether you're on the east coast or the west coast. It doesn’t matter if you're in a small town or if you're in a big city. Sellers are everywhere. Everywhere that people sell their homes, people use Google to sell their homes. Right? So let's do a quick research. I'm going to show you this example. I pulled up some keyword research on "sell my house in Greenville." Okay? So Greenville, South Carolina. It's a city with a population of 63,000 people. Right? [0:07:09.7]

And there are 100 searches this month alone looking to sell their house. This is from basically a single keyword. If you target "Sell my house Greenville," you basically get all of this stuff. That's just kind of the way that the keyword research works. Right? So if you have one of these keywords generating about 100 searches a month, if you could get 10-100 searches from just one keyword, there are probably over 1000 sellers in that market willing to sell their house this month because there are over 100 different keywords you can plug into your account to get in front of motivated sellers. Right? This is just from one keyword. If we stack multiple keywords like this on top of each other, you can get to a pretty significant volume of people pretty much in any market. Now if you're in a bigger market, like if you're in like New York City, for example, you're going to get thousands of searches a month for just a single keyword. So basically whatever market you are in, you can find sellers on Google, which is one of the reasons it's so powerful. Right? [0:08:11.1]

Now the second reason is that when sellers decide that they want to sell to a cash buyer, they Google it first. Right? And this is something that's really critical to understand. Like when people want to do something and they're not 100% sure about it, when they want to know more about it, want to do research… like you want to do research - where do you go? Do you to the encyclopedia? Right? No. You go on Google. Right? It's what everybody does. Right? So now look, like, I don’t really have like anything against sending direct mail or cold calling or bandit signs. Right? Look, these are all classic forms of marketing. They have worked in the past. They're going to continue to work. Right? But, the biggest factor I've found that could mean the difference between dialing 4000 numbers to get a single deal compared to talking to just a dozen sellers to get a deal is timing, okay. This is all about timing. Alright? [0:09:02.8]

You have probably heard …there's a famous Wayne Gretzy quote where he says, "A good hockey player plays where the puck is, but a great hockey player plays where the puck is going to be." And this is like really critical to understand because in the end, it's all about timing. You can play where the puck is, but if you go where the puck is going to be, you're going to be there at just the right time. Right? You can't be a little behind and you can't be too far ahead or you're going to miss that opportunity. Right? So likewise, the secret to getting on the phone with motivated sellers and scoring deals every week, the difference between doing that and not doing that is to be in front of the sellers when they decide, they decide, that it's time for them to sell. Okay? You want to get them in the moment where they make the decision of their own free will that it's time for them to sell. So the question is where can you find sellers at that specific moment? How do you get people when they are ready to sell today? Like how do you get them? Right? Well you get them at the top of Google. Right? [0:10:04.4]

Because when sellers have evaluated their options and they're going to sell to an investor without using a realtor, they go to Google and they type in "sell my house" or they type in "sell my house fast" or "sell my house cash" or some variation of that. Right? And when you are right there at the top of Google at the right time, bam - that's when the magic happens. Right? That's when you get the deal. This is why a lot of sellers who come from mail, who come from mailers, who come from bandit signs or cold callers, cold calls, whatever - the reason a lot of those people turn out to be tire kickers or as an investor friend of mine likes to call them "window lickers," which is pretty great. You know, the reason that so many of them are window lickers, right, it's because they haven’t decided yet to actually sell. They're still kind of in that early phase. Right? It's either too late because they've talked to a million other investors or it's too early, but when you use Google to get in front of the sellers at the moment they decide to sell, you're going to hear "yes" to your offers. You are going to have more sellers sign on the dotted line and you're going to have more sellers consistently close every week. This is the difference between being where the puck is and being where the puck is going to be. So life can be much easier when you decide you don’t have to talk to 40 to 50 to 60 to 80 sellers to do a deal. You can just talk to 12 people that are actually ready. Okay? [0:11:32.9]

Now reason number three why I like to start with Google Ads so much is that Google Ads brings you a consistent flow of leads day in and day out. So of course, yes, there are seasonal fluctuations, the volume of traffic - it's affected by what's happening in the market. It goes up and down every day, every week. Of course that's true. But, like a faucet with running water, you can turn up or down the volume of leads that you need to fill up your CRM. Right? You can turn that up or down. So if you've got a big bill coming up and you want to close a couple more deals this month so you don’t get into a cash crunch, you can add more keywords to the account to get in front of more motivated sellers. Right? You know, you're going to get into keyword research and building strategies later on. We're going to cover all that stuff, but there are basically over a couple hundred keywords that you can bid on in your market and all those together are going to add up to a significant number of sellers. [0:12:30.4]

Want to find motivated seller leads online, but don’t know where to start? Download our free 2019 Motivated Seller Keyword Report today. AdWordsNerds have spent over $5,000,000 this year researching the most profitable keywords for finding motivated seller leads. You can grab these exact keywords when you download our report at www.AdWordsNerd.com/keywords.

Dan: You know, let's say you are busy with a rehab and you know, you don’t have a ton of time this month to start a new project and you just want to keep leads trickling in for like, you know, to stay on top of things but you don’t want to do a ton of work doing follow up. You can turn the volume down. Right? You can turn it up again whenever you want, but you can turn it down if you want to chill out for a little while. Right? Like here is an example: This is an account. This is someone that I have worked with, right - and it's been running - I think this is, this graph is like if you look all the way over at the left, that large, little sort of red peak here, over here, that's like July of 2018 or so. Right? So, this has been running for what - over a year now, and it's been generating close to 70 to 80 to 90 leads a month every single month, and you can see there's a natural up and down. Right? You can see there are peaks and valleys but it's pretty consistent. So when you do this the right way and you invest into actually running ads, you can wake up every day to new seller leads sitting in your CRM, eagerly waiting to get an offer from you. Right? [0:14:07.3]

Now there are probably more reasons to use Google than I've… I mean, there are more reasons to use Google than I've gone into here, but those are the big ones and really, what I want you to take away from this - right? What I want you to take away from this if you want to get off the lead flow roller coaster and you want steady and consistent leads and deals, you need an engine that's generating those for you. You cannot sit back and leave that to chance. You have to make that happen, and if your goal is to make that happen, Google Ads is probably the best place to start making that your reality. So that's the theory. Now that we have covered the basics, I want to get you started by setting up your Google account because basically over the next three days, I'm going to be walking you, step by step through launching your first Google Ad so you can actually start filling up your CRM with motivated seller leads and consistently get properties under contract, every month. Okay? [0:15:06.8]

So I'm going to walk you through this whole process. Do me a favor - go through this with me now. Feel free to like pause the video, do whatever you need to do. Go through this with me. When you're done, take a screen shot of your account when you're done and post it in the group so I can see that you did this because basically the more I see you taking action, the more excited I get about going deeper into the training and to help you get your phone ringing off the hook with motivated sellers. It really gets me jazzed up to see people kind of following along. So when you're done, take a screen shot. Post it in the group. Alright. Let's go through this, folks. Let's do this live. Are you ready? I'm going to show you there are super fancy ways to do this. Now the place we're going to go is Ads.Google.com. Alright? Ads.Google.com. Now let's say you have troubling typing that in. Just literally type in "Google Ads" into Google and you'll find it. Okay? So just type in "Google Ads" into Google. You'll find it. The URL is Ads.Google.com. Now, what we're going to do is we're going to create a new account. [0:16:05.8]

We're going to hit this awesome blue button that's called "Start Now." Now I'm going to give you a piece of advice. Many…there are many points in this process, and really with Google in general. They are going to make recommendations to you. They're going to say, "Hey - we have this new feature" or "Hey, you should let us get on the phone with you and work it out with you" or "Hey, let us… you know, you're missing this part of your … you know, you're missing these keywords - add them in." I'm going to tell you 99% of the time, what they suggest to you is a bad idea. Okay? so the stuff I'm going to teach you in this whole course that we're going through right now, these are all proven for real estate investors. These are, you know, tactics and strategies and settings and all this stuff that we have spent millions of dollars testing, literally millions of dollars testing. So Google is going to suggest stuff. I'm just going to ask you to put your faith in me and ignore Google for awhile and just do what I ask you to do because it is going to be better for you. I promise. Okay? [0:17:05.0]

Alright, so let's click this "Start Now" button right here. Well, let me click this - "Start Now." Now what it's going to do is it's going to ask you to choose an account, choose… now, the way that this works is it's going to run through your Google account. So if you have like a Google calendar account, if you have a Gmail account, you can use that. If you don’t have one, you can simply click "Use another account," and it's going to, you know, you're going to pick an email that you want to use and then we can click "Create Account." Alright? And then we're going to go "Create A Google Account" and then put my name, Dan Barrett. I'm going to use an email. I'm going to use one that I don’t think I've used before and I'm going to do a password. So my password's got to be something relatively secure. Okay. And I'm going to go ahead and click "Next." Alright? Now it's going to send me an email - alright - that's going to basically say, hey, we're sending you an email and you know, you're going to check it. You're going to get a code. [0:18:05.1]

But you know, this could take anywhere from like 5-10 minutes. So I'm just back in my email and I can see I got this wonderful email from Google. It says "Verify this email address is yours," and it's going to give me this code here. So I'm going to go ahead and copy this code, come back, now enter this in. Now to be clear, if you already have a Google account or Gmail account, you can just use that one. You don’t have to go through all this rigmarole. This is just showing people, just in case you don’t have one, how you do this. We're going to go ahead and click "Verify." Alright. Now, it's going to ask me for my phone number. I'm going to put my birthday, which is March 16, 1980, and my gender and then we're going to go ahead and click "Next." It's going to verify my phone number. So it's going to send me a text message with a notification doodle. Boom. Already got it. So it says the code is 133612. Okay. Verify. Okay. Now I'm going to skip this. This is my… and I'm going to go ahead and click "Agree." Cool. Now it's bringing me in. Boom. I am in Google Ads. I have officially set up my account. [0:19:13.3]

Now, there's a couple of things I'm going to ask you to do. Now, the very first thing I'm going to ask you to do - it's going to go … it's giving me this kind of thing here where it says, "What's my main advertising goal?" and it's going to walk me through. Remember what I said about when Google makes recommendations to you, see if you can skip it. If you have this little line here that says, "Experienced with Google Ads," go ahead and click that. Now, if you don’t have that, okay - some people are not going to have this. It dep…you know, Google tests a lot of different things here. It creates a lot of different things here. You should have that link, but if you don’t, you can still walk through the rest of the process. It's going to ask you questions and stuff. Just don’t turn anything on. It's going to really push you to turn on your ads very early. It's going to try to get you to set something up and run it right away. Why are they going to do that? [0:20:04.3]

Because that's going to make Google money. We're going to avoid that. Okay? So for example, if it asks me to do this, I'm just going to say, "I'm going to create a campaign…I'm going to create an account without a campaign because I don’t want to set anything up yet. You and I are going to go through that in the next couple of videos. I just want to finish setting up my account. Alright. Confirm my business information. Yes, I'm in the United States. You put your time zone. Yes, US Dollar. I'm going to click "Submit." Okay? And I can click "Explore Your Account." Boom. This is my Google Ads account. I just did it. Now, if you have any issues with any part of that, let me know. Like you can let me know in the comments or whatever. Sometimes people get some…and this is one of the things about Google - they are constantly testing new things, so you may run into something that's slightly different from what I saw. Just think of a couple of, sort of like core concepts in mind: One - you don’t want to turn anything on yet. So Google is going to push you in a lot of ways to turn a campaign on, to turn an ad on. Just try to avoid that if at all possible. Whenever possible, say "I'm experienced at Google Ads. You can just get to the campaigns." Say, "I want to create an account without the campaign." [0:21:15.2]

We are going to put that stuff in there later. But for right now, we don’t want to do any of that yet. Okay? I hope that makes sense. We literally just walked through the entire process of setting up a Google account. That is everything you need to start running ads, getting leads, and filling up your CRM. So, up next, in the next video, we're going to be talking about finding the keywords that get us in front of highly motivated sellers. We are going to cut out the stuff that isn't motivated and focus on the stuff that is, putting us in the small pond so we can be the BIG FISH. I hope you're excited for that. let me know in the comments if you like this video, if you have questions - post screen shots. If you set up your account, I want to know and I'll be seeing you in the next video. [0:21:59.7]

Thanks for checking out the BIG FISH, Small Pond training series for this week. If you want to get the whole rest of this series, either look before or after this one depending on which one you're listening to to go get the rest of them. They are very high quality and I hope you enjoyed it. Now, if you are curious about the BIG FISH, Small Pond training series and you want to get plugged into that, you want to get the videos, you want to ask about whatever programs we have, just drop me an email at danbarrettvip@gmail.com. That's d-a-n-b-a-r-r-e-t-t-v-i-p@gmail.com. That's danbarrettvip@gmail.com. Drop me an email. I'll be happy to hook you up with whatever resources we have and I look forward to talking with you. Thanks a lot.

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