Behind the Scenes Coaching Session with Real Estate Millionaires
Sep 11, 2024
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Join real estate millionaires Andres Ospina and Kelly Gomez as they unpack the challenges of running a successful business. Andres shares his experiences navigating tough times in the real estate world while Kelly discusses the balance of business and personal life. Topics include innovative financing strategies, effective lead generation, and the complexities of onboarding new employees. Discover how technology is reshaping operations and gain insights into the best properties to invest in right now. It's a treasure trove of actionable advice!
Andres and Kelly emphasize the importance of adapting business strategies, such as novation, to navigate market challenges and enhance profitability.
They highlight the crucial role of financial management, particularly through hiring a bookkeeper, to ensure informed decision-making and investor trust.
The discussion on lead generation illustrates how leveraging marketing expertise can empower real estate investors to acquire high-quality leads effectively.
Deep dives
Focus on Wholesaling
The primary focus for Andres and Kelly is on wholesaling, utilizing joint venture (JV) relationships as a method for property disposition. They operate with minimal costs, primarily paying for virtual assistants and a subscription to InvestorLift, which allows them to manage and market their deals effectively. Their business model allows them to do approximately four to five wholesaling deals per month with an average profit of around $15,000 per deal. This streamlined approach keeps their overhead low while maximizing deal flow through strategic partnerships.
Challenges in Airbnb and Flipping Markets
Andres and Kelly have observed a decline in the Airbnb market, with reduced occupancy rates impacting their profitability. Additionally, their flipping business is facing challenges, as several properties are sitting unsold, leading to significant holding costs. They've resorted to price drops to expedite sales, even if it means breaking even on deals to alleviate their financial burden. The current market conditions have prompted them to halt further buy-and-hold or fix-and-flip ventures as they evaluate more sustainable profit opportunities.
Importance of Accurate Bookkeeping
Recognizing the necessity for improved financial management, Andres and Kelly have hired a full-time bookkeeper to organize and maintain their financial records. They admit to falling behind on tax filings due to a lack of systematic bookkeeping and management, which has complicated their financial overview. With the bookkeeper's assistance, they're working to resolve past discrepancies and produce timely financial reports. This proactive step reflects their understanding that accurate bookkeeping is crucial for making informed business decisions and maintaining investor trust.
Innovative Strategies in Deal Flow
They have developed innovative strategies such as novation—a method allowing them to effectively market and sell properties that other investors might categorize as unprofitable. By pitching novation deals, they engage sellers who seek near-market value, enabling them to secure more profitable deals without the traditional risks of flipping. Currently, about half of their deals involve novation, which they find less risky and potentially more lucrative compared to conventional flipping. This approach illustrates their adaptability to market shifts and the efficacy of creative deal structuring.
Transitioning to Lead Generation Services
Andres has established a new business venture known as 'Lead Kitchen,' leveraging his experience in inbound marketing to provide lead generation services for real estate investors. He aims to assist clients in acquiring high-quality leads through effective Facebook advertising, capitalizing on his expertise in marketing strategies. This service not only enhances his business portfolio but also caters to a growing need for effective lead acquisition among real estate professionals. By combining his knowledge in digital marketing with practical applications, he seeks to empower other investors to achieve similar successes.
Emphasis on Personal Branding and Online Presence
The conversation highlights the significance of personal branding in enhancing business opportunities, as Andres emphasizes that his success is partly due to a strong personal brand that resonates across different ventures. Building a reputable online presence is crucial for attracting clients and partnerships, as demonstrated by the organic and paid marketing strategies he has adopted. He acknowledges that mastering digital marketing will continue to be essential for scaling any future business ventures successfully. The alignment of personal identity with business growth remains a pivotal point in their ongoing strategies.
In this episode, I sit down with Andres Ospina and Kelly Gomez, and we dive deep into the ups and downs of running a business. We start off by breaking down what's going on in their world and how they're navigating through some tough times. We talk about the benefits of overcoming challenges and the growth that comes with it.
I also get into wholesaling without a license and analyze Andres' current pipeline to find ways to make it more efficient. We discuss starting a lead generation company, and how starting from zero can give you a fresh perspective on building a business. I break down the 4 Ps of marketing and share tips on how to balance business with personal life.
We talk about the best types of properties to buy right now and give a behind-the-scenes look at how my dispo team operates. Plus, we touch on inbound vs. outbound marketing, expanding into new markets, and some key changes in their businesses. Leadership and team meetings also come up as we explore ways to keep your team motivated and accountable.
I also touch on PPC vs. PPL, the importance of a strong sales team, and even how to start a roofing business. Andres and I wrap up by talking about adapting strategies for any industry, building a personal brand, and some resources I recommend for digital marketing.
Don’t miss this episode if you’re looking for actionable advice on scaling your business!
Connect with Andres and Kelly! Andres IG: https://www.instagram.com/andres_airbnbexpert/ Kelly's IG: https://www.instagram.com/kelly_airbnbexpert/ YouTube: https://www.youtube.com/@UCpKH0k1SY1v5cFzYH3BTa0w
Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/
If you want to level up, text me at 725-527-7783! ---
About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generat...
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