7 Figure Flipping with Bill Allen HFHQ 27: Dealing with Sellers and Effective Rehabs with Michael Quarles (Part 2)
This is Part 2 of our interview with Michael Quarles. Part 1 is right here.
Michael Quarles is a master marketer from YellowLetters.com and talks about his background with house flipping, his philosophy about making a sizable income, and provides a great introduction to yellow letters and zip letters with relation to direct marketing. He even has an amazing freebie for all of you can hear at the end of the interview!
Have any questions for Michael or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?
Today's Flip Tip
“Don't be a Yeah-But'er“
The most common behavior of people who won't take action is that they invariable use “Yeah, but …” when giving their exuses. There are two types of people: those who make it work and those who won't. Ryan Skalla called those who won't the “Yeah But'ers”, so I've been using it ever since. Don't use that phrase and take action!
Win 1,000 Yellow Letters!
UPDATE! This contest has finished! Congratulations to all our winners!
And the winner is ….
The winner of the Michael Quarles 1,000 yellow letters give-away is Ed! Just e-mail Michael at michael@yellowletters.com to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).
For the rest of you who entered, you can also email michael@yellowletters.com with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode. We'll be checking your name against the entries so be sure you actually entered the contest if you send an email! 
Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments below and Michael will give 1,000 Yellow Letters to the person with the best answer. The winner will be decided at the end of Tuesday, February 18 25, 2014. The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.
And for anyone who leaves a comment Michael will also give you free business cards to help your business!
Who Sang it Better?
Thanks to Chris M. for the great image! 
[poll id="2"]
Show Notes
In this episode we cover:
- Why Michael uses an algorithm model to get the best performing lists.
- The importance of not judging people by the condition of their house.
- Michael's proudest experience buying a house and helping someone who needed help.
- Why you shouldn't rehab a house that you would want to live in.
- Separating being charitable vs. running a business as a charity
- Michael's current model for direct mail marketing
- Role playing a call with a potential seller and the exact words Michael would say.
- Michael's analysis of how he talks to sellers on the phone
- Dealing with sellers and Michael's strategies for finding properties
- The four questions Michael asks to sellers to find out if he is interested in the deal.
- How Michael closes his deals and buys properties
- The importance of setting goals, being held accountable and affirmations
Tweetable Quotes
Click a quote to tweet it!
- “At the end of the day, We are in the business of buying houses.” ~ Michael Quarles
- “Don't do to the house what you think it should have. Do what the buyers will think it should have.” ~ Michael Quarles
- “If you try to make your business your charity, you will very quickly not have a business at all.” ~ Justin Williams
- “I require the seller to make me an offer.” ~ Michael Quarles
- “I can't lose what I don't have.” ~ Michael Quarles
- “It's hard for people to have what they see as confrontation. It's not. Its negotiation.” ~ Michael Quarles
- “Do you have a house you want to sell?” ~ Michael Quarles
- “Bought a house. Made some money on it. Solved a problem. Made people happy.” ~ Michael Quarles
- “I've bought houses from judges, and from the people judges put in jail.” ~ Michael Quarles
Transcript
Click here to Read and Download the Transcript for Episode 27
Links and Resources
See me live in Irvine, CA!
I will be speaking at the Orange County Real Estate Forum in Irvine, California, this Wednesday, February 12, 2014 at 7:00 PM. I hope to see you there! Visit www.ocreforum.com for more information.
Join the Mastermind Webinar!
Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014. Click on this link to sign up! houseflippinghq.com/webinar.
Leave us a Rating and Review!
If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. 
Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!
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