Collecting Keys - Real Estate Investing Podcast

What did you think of todays show??Tips To Not Waste Thousands On Marketing Episode 14 Show Notes Want to get the most out of your marketing efforts? In this episode of the Collecting Keys Real Estate Investing Podcast, we share valuable tips and advice on how to avoid wasting money on marketing your real estate investing business. You’ll learn how to capitalize on leads by learning how to effectively talk and pitch to sellers, the easiest way to monitor your Key Performance Indicators (KPIs), and how to avoid short-term capital gains tax after flipping a house. We also highlight mistakes we’ve made and lessons we’ve learned from marketing our own real estate investing business and even talk about how to avoid borrowing from shady lenders. Plus, we speak on a few external factors that lead to sellers backing out of deals and the importance of listening to your team’s sales calls. Key Points From This Episode:Lessons learned from marketing mistakes we’ve made and challenges we’ve encountered. [02:38]Identifying your KPIs is key to increasing your business’s efficiency and marketing ROI. [09:24] How to not waste your energy on poor quality leads & The power of having the “Disneyland voice” for sales. [11:58]The importance of reviewing your team’s sales calls and truly listening to your leads. [14:12]External factors that lead to seller objections & The weather prevents people form selling their house? [19:01]Wrapping up our current flip… when will we list it and how much will we sell it for? [21:31]Reviewing future deals & How to avoid shady lenders. [25:17]Lessons learned this week: Continuously optimize all aspects of your business. & What we’re looking forward to in 2022. [30:32] Tweetables: “Figuring out your KPIs is key to being more efficient, especially when you’re spending all this money.” — Michael DeHaan [0:10:02] “This is a very energy intensive business, so when people start wasting their energy on crappy leads cause you don’t know that they’re not good, it’s gonna make their effort towards to good leads be reduced.” — Michael DeHaan [0:11:58]“You’ve got to have a track record and show what you can do, otherwise you’re going to be getting more expensive lending. We went through it. But then the more sources of lending you can pull in… you build all these levers so you can pull them when you need to.” — Dan Austin [0:32:38]Resources Mentioned:Never Split the Difference by Christopher Voss and Tahl RazGet your FREE 5-Step Guide to Start Generating Off-Market Leads Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on InstagramIf you enjoyed this episode, please leave a R

What did you think of todays show??Will Real Estate Crash in 2022? Episode 13 Show Notes Is the housing market going to crash in 2022? Will rent prices decline? Will cities start shutting down Airbnb rentals? Let’s talk about it! In this episode of the Collecting Keys Real Estate Investing Podcast, we share our thoughts and predictions as real estate investors on the state of the housing market in 2022. You’ll gain insight into how inflation will affect real estate investors, a few lessons to be learned from the psychology of buyers and sellers, and how changes in the financial sector might impact homeowners, renters, and investors. We also highlight the (not so bad) worst-case scenario for real estate investors during hyperinflation and a few new opportunities you can take advantage of this year as an investor. Plus, we share our top tips and advice for aspiring and beginner real estate investors on succeeding in 2022 and beyond. Key Points From This Episode:The power of consistency and celebrating your wins and past accomplishments. [02:05]The state of the real estate market from 2021-2022: What will the market look like for retail, investment, valuations, etc.? [07:23] Analyzing the psychology of real estate buyers and sellers & What happens to home prices when inflation rates go up? [10:03]The worst-case scenario + new opportunities for real estate investors during hyperinflation. [15:08]Changes in the government’s financial sector and how they’re impacting homeowners. [19:01]Rental rates have climbed… Will rent prices decline? Will cities start shutting down Airbnb rentals? [21:35]Top tips for aspiring and beginner real estate investors on succeeding in 2022. [25:26] How to get our FREE 5-Step Guide to Start Generating Off-Market Leads.  [31:10] Tweetables:“I’m guessing most markets are going to still see a multi single digit growth rate.” — Dan Austin [0:09:52] “As an investor, just stick to the lower price points because… Say you’re a house flipper, your worst-case exit is trying to hold onto something and just renting it out… There’s still going to be great demand for rental properties.” [0:15:08] “I don’t think the rent growth that we’ve seen, just like the house price growth, is going to be sustainable. I don’t see the rents declining, though.” — Dan Austin [0:23:28] Resources Mentioned:BlinkestOpen Letter Marketing (Use code KEYS5 for $$$ off your order!)Ballpoint Marketing (Use code MD5 for $$$ off your order!)Get your FREE 5-Step Guide to Start Generating Off-Market Leads Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram

What did you think of todays show??5 Steps to Start Generating Your Own Off Market Leads  Episode 12 Show Notes Ready to start generating quality leads for real estate investment opportunities? In this episode of the Collecting Keys Real Estate Investing Podcast, we break down the 5-step process you can start right now to generate off-market leads within one week! These steps, which we took to get started in real estate investing, along with much more detailed tips and advice can be found in our FREE e-book “5 Steps to Start Generating Your Own Off Market Leads” which you can get at www.collectingkeyspodcast.com.  In this video, we divulge our favorite marketing channel, how much we spent on marketing in 2021, and the step that we struggled most with when starting our investing business (and how we overcame that struggle). Whether you want to run a full-time real estate investing business or casually find deals to make extra income on the side, you will definitely benefit from this 5-step framework!  Questions Answered:Should I invest locally or virtually?What housing markets are the most affordable or expensive to invest in?Where do I find the best real estate data online?Is a CRM system worth it in the first few months of real estate investing?What are the benefits of using a CRM system as an investor? What marketing tactics and channels should I use to reach my target market?How do I hire an Acquisitions Manager that’s as good as me?How did we transition from engineering to real estate?and more! Key Points From This Episode:Want to start generating leads for real estate investment opportunities? This is why you need to buy off-market properties! [01:07]Step #1: Choose your location (decide where you’re going to start marketing). [03:55] Step #2: Gather your data (find out your niche and where you’re motivated sellers are going to be). [08:51]Step #3: Set up your CRM (Customer Relationship Management). [11:19]Step #4: Pick your marketing channel (how you’re going to reach out to leads). [16:31]Step #5: Talk to people and learn how to do sales (follow-ups are crucial!). [23:53]Reminiscing on our first days as real estate investors. [29:54] Listener question: How did take the leap from your engineering career to real estate? [31:03] Tweetables: “Honestly, if you want to make real money in real estate and not just park money for some decent returns, you have to be looking off-market to be buying things with equity.” — Michael DeHaan [0:01:42] “If you’re in a competitive market… the CRM is going to help you squeeze the juice out of your deals and your leads.” — Dan Austin [0:14:26] “We love mail. We do really well with it. We’ve kind of built that as our niche but we also layer on other marketing channels as part of our marketing plan.” — Dan Austin [0:20:22] “Everyone seems to think that you have to outsource the more active parts of the business. That’s not necessarily true if those are the parts that you like.” — Michael DeHaan [0:29:23] Resources Mentioned:PropStreamListSourceRealFlow

What did you think of todays show??Wholesaling Real Estate in the Metaverse? Episode 11 Show Notes Can you wholesale real estate in the metaverse? Is cryptocurrency ACTUALLY decentralized? In this episode of the Collecting Keys Real Estate Investing Podcast, we go a bit off the rails when talking about the possibility of wholesaling real estate in the metaverse and why the wealth gap in today’s society exists.  You’ll also gain insight into how to mitigate risk as an Airbnb host without compromising on revenue, whether or not it’s worth discounting your rentals for the first few bookings, and ways to increase the amount of bookings you get for your Airbnb/Vrbo rental. Plus, we share the important reasons behind why you need to price your Airbnb rental properly before you go live and learn any system before trusting it completely.  Key Points From This Episode:Reflecting on where we’re at in our investment projects & Are HOAs useless?  [01:37]Update on our Airbnb rental properties: Is it worth discounting your rentals for the first few bookings? How do you mitigate risk as an Airbnb host without compromising on income? 10:37] How to increase the amount of bookings you get for your Airbnb/Vrbo rental. [14:20]Opportunities for up and coming destination rental properties. [16:32]Real estate wholesaling in the metaverse: Is it possible? Is it the new future of real estate investing? [19:01]Highlighting the wealth gap in American society and why it exists. [23:58]There’s a huge anti-wealth movement in America right now, during the Great Resignation, yet it’s never been easier to make money. [30:04] Breaking down the different ways to make an income. [33:48]Lessons learned this week: Price your Airbnb properly before you go live & Make sure you learn the system before entirely trusting it. [36:47] Tweetables: “Make sure that you learn the system before you entirely trust the system… Learn how to use frickin’ Airbnb before you just turn it on and see what happens.” — Michael DeHaan [0:36:59] “You go and buy this metaverse lot for $200k… then a year from now, when you realize you made a big fuckin’ mistake and your metaverse Ethereum lot is now only worth $30k and no one wants it, we’ll happily come and by it from you for $12k and then sell it for $20k.” — Michael DeHaan [0:19:41]  Resources Mentioned:Book a stay at our Airbnb!https://www.airbnb.com/rooms/53241923https://www.airbnb.com/rooms/53892018Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram  If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??The BEST Way to Force Equity In A Property Episode 10 Show Notes What are the best ways to increase the value of your property so as to maximize your profit? In this episode of the Collecting Keys Real Estate Investing Podcast, we talk about which rooms in a house you should add or renovate to increase the value of your home the most, how to get the most out of your property appraisal, and the savviest way to increase your rental home profits by up to 30% or more. You’ll gain insight into the strange experience we had with our first ever Airbnb guests, Airbnb/Vrbo rental pricing strategies, and the absolute BEST way to get started in real estate investing, flipping, wholesaling, rentals, and more. Plus, you’ll learn how to gain access to our FREE 5-Step Guide to Start Generating Off-Market Leads! Key Points From This Episode:For house flipping to be profitable, you need to increase the value of the property as much as possible. This is how we do it… [02:07]What is the BRRRR Method of real estate investment? & Things that decrease your home appraisal price. [04:29] The best and worst types of buildings to add a bathroom into. [09:25]Our experience with our FIRST Airbnb guests (spoiler: It was turbulent!). [10:17]Maximizing your rental profits by pricing your rentals based on busy seasons and local events. [16:22]Real estate investing vs. Hospitality: Things to consider when deciding between house flipping, wholesaling, and Airbnb/Vrbo rentals. [20:01]What’s the best way to get started in real estate? [22:10] Lessons learned from this week: Systems are necessary for operating rental homes & Find the sweet spot between analysis paralysis and not paying attention to anything. [28:17]One of the best ways to learn is putting yourself under extreme pressure. [28:58]How to get our 5-Step Guide to Start Generating Off-Market Leads. [30:48] Tweetables: “You can buy it and put in some new granite countertops but it’s not going to increase the value as much as increasing the square footage.” — Michael DeHaan [0:02:43] “You’ve got to show up, you’ve got to be consistent. It does take patience, but all of a sudden you look back and you’re like, holy cow, how did I do four flips… and it was just by showing up every day.” — Dan Austin [0:27:34]  Resources Mentioned:Book a stay at our Airbnb! Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram  If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??Treasure Hunt in a Hoarder House Episode 9 Show Notes In this episode of the Collecting Keys Real Estate Investing Podcast, we review the walkthroughs we did this week and address a few important concepts in real estate investing that you should know about: having multiple exits on a real estate investment deal, vetting the people you work with, and not letting a junk-filled hoarder house scare you away from making a smart investment. You’ll gain insight into what we’re learning as beginner Airbnb hosts, a few new investment opportunities we’re considering, and the surprisingly great things that come from flipping hoarder houses. Plus, we give you another shocking update on our kidnapped seller and share another horror story from this week! Buckle up, this episode is a fun one! Key Points From This Episode:Detailing our walkthroughs from earlier today & What we’re learning from being a beginner Airbnb host. [01:25]Why it’s important to have multiple exits on a real estate investment deal & Details on our new opportunity for a vacant double lot build. [07:11] What happens when you a sign a deal with someone who’s associated with untrustworthy people? & The mutual benefits of mentoring a new investor. [09:02]A new way of looking at your personal finances as an investor. [12:54]Stocks vs. Real Estate: Which is a better investment? [14:15]Tips and advice for new real estate investors: Getting partners, taking risks, and vetting the people you work with. [15:22]What it’s like buying a hoarder house and flipping it into a rental property (opportunities are everywhere!). [17:42] When to convert a garage into an extra bedroom. [27:33]How we’re preparing for January 2022 & Helping our Acquisitions Manager close his first deal. [31:35]Horror stories from this week & Another update from the kidnapped seller. [34:08] Tweetables: “Recently, we’ve come across this a lot where we’re meeting all these people and there’s just so much talk going on and no one’s actually doing what they’re saying, so you’ve got to be careful.” — Michael DeHaan [0:16:33] “There are opportunities everywhere! People find good stuff. Somebody in our mastermind group found a classic car.” — Michael DeHaan [0:26:04]  Resources Mentioned:Book a stay at our Airbnb!https://www.airbnb.com/rooms/53241923https://www.airbnb.com/rooms/53892018Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram  If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??Stocks and Crypto Dipped Big, but a House is still Worth a House Episode 8 Show Notes With the rise of inflation and the dip in stocks and crypto, is real estate a better investment? In this episode of the Collecting Keys Real Estate Investing Podcast, we discuss our reasoning behind why real estate is a better investment than stocks or crypto. We also talk about the benefits of switching to electronic smart keys and locks for your rental properties, how to scale residential real estate deals, and the power of hiring employees that are system-builders. Key Points From This Episode:Is it worth switching from physical keys to electronic smart keys/locks, even for long-term rentals? [01:54]Is residential real estate actually scalable? [05:35] No deal in real estate or entrepreneurship is a perfect deal, so stop being a perfectionist! [09:03]Why real estate is a better investment than stocks or crypto. [11:35]When you buy real estate, you make money. [17:46]Lessons learned from this week: The 2 types of employees, finding systems that work for your business, and enabling your employees to build systems that automate your business. [26:35] Tweetables: “A lot of people [are] worried about leaving money on the table or worried about something being perfect, so they don’t pull the trigger. That’s like saying I’m gonna hunt for my dinner but I only want to eat unicorn.” — Michael DeHaan [0:09:03] “The one thing that I can know about real estate is even if the real estate values go down and inflation goes crazy and our dollar is now worth nothing, a house will still be worth a house.” — Michael DeHaan [0:14:39] “If we lost 40% equity in our properties overnight, what would that look like? That’s a huge swing… we’re talking housing crisis… we’d still be okay.” — Daniel Austin [0:15:07] “Just make the best decisions you can for today and keep investing consistently and keep buying the deals that make sense in today’s market and over a period of time, you’ll be okay.” — Daniel Austin [0:17:46] Resources Mentioned:Mind Pump PodcastGoBundance Who Not How by Dan Sullivan Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram  If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??The Riches Are In The Niches Episode 7 Show Notes Should I pick a niche as a real estate investor? What makes a marketing campaign successful? Listen in to find out! In this episode of the Collecting Keys Real Estate Investing Podcast, we talk about the importance of being consistent in your marketing, how investors can benefit from specializing in certain niches of real estate, and the opportunities that come from analyzing different real estate investment exit strategies. You’ll also learn a few factors that contribute to slow or fast growth in real estate investments, how to decide whether you should keep an investment property for the short term or long term, and how to make yourself known as a trustworthy investor in your community. Plus, we share the perfect way to get into real estate as a beginner, along with a few updates on our current deals! Key Points From This Episode:Dealing with uncertainty of ROI on marketing campaigns. [00:33]Factors that contribute to slow or fast growth in real estate investments. [01:50] Consistency in deals comes from consistency in marketing and business operations. [05:58]Analyzing different exit strategies has created more opportunities… here’s how! [08:31]Distinguishing short-term investment properties and legacy investment properties. [14:38]What are our niches? & The niches we may specialize in in the future. [17:24]The perfect way to get into real estate investment & How to collaborate and partner with experienced investors. [19:33]How to make yourself known and trusted in your community & Networking do’s and don’ts for real estate investors [21:28]Live updates on our current deals! [26:58]Reflecting on this week & Lesson learned: Listen to your gut. [32:25] Tweetables: “It is surprising how many people are not consistent with their marketing, including us in the past… And now that we’ve been doing it pretty solidly this year, I would say… it’s paying dividends.” — Daniel Austin [0:05:37] “That’s the great thing about investing, especially the way that we do it… We take these janky little houses that wouldn’t provide an opportunity to the average person and we can make them pretty badass investment opportunities.” — Michael DeHaan [0:12:16] “Build your base and then find things that are progressively easier to manage and continue to give you a fantastic return for your money.” — Daniel Austin [0:17:06] Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??How Landlords Make Landlords Look Bad Episode 6 Show Notes Want to hear some landlord horror stories? You really can’t make this stuff up! In this episode of the Collecting Keys Real Estate Investing Podcast, we talk about the logistics behind regulating landlords and why landlord regulation could be very beneficial for communities around the U.S. You’ll gain (shocking) insight into the state of homeownership across the nation while learning how you can become a better landlord. We also discuss one of the biggest challenges of being an entrepreneur with a small team, the power of hiring an assistant for your real estate investment business, and why it’s so hard to hire people right now. Then, we share why you need to interview your accountants and/or bookkeepers before you hire them! Plus… In less than 2 months, we’ve signed 14 contracts! How many will we close and flip? What will our revenue be? Tune in to find out! Key Points From This Episode:The biggest challenge as a small business owner: Spending too much time on the little things you can’t automate or delegate yet and neglecting other parts of your life.  [02:27]Why it’s so hard to hire people right now. [07:42] It’s not as hard to make an extra $1,000 per month as you think… [08:11]In less than 2 months, we’ve signed 14 contracts. How many will we close and flip? What will our revenue be? [11:08]Does the real estate market slow down during the holidays? [16:49]Landlord horror stories & Why should landlords be regulated? [17:37]What Minnesota landlord regulations look like (Spoiler: You have to get a property inspection every year). [26:56]The most shocking thing about working in real estate. [29:49]Lesson learned this week: Having an assistant is very impactful for business owners & Interview your bookkeepers before you hire them! [31:24] Tweetables: “They’re living in the worst possible living environments you can imagine because the landlord just refuses to take care of their properties… and the thing that sucks about it is those are always the impossible contracts to get cause the people are greedy.” - Michael DeHaan [0:18:21] “You can’t just send out a batch of letters and then think you’re gonna make money that same month. You have to consistently do it and have this expectation… If you start today, in 90 days you’ll probably be making money.” — Daniel Austin [0:14:02] Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!

What did you think of todays show??How A Mastermind Can Change Everything Episode 5 Show Notes Are masterminds worth it? Let’s talk about it! In this episode of the Collecting Keys Real Estate Investing Podcast, we highlight the benefits of joining a mastermind group and going to professional meetups, particularly for real estate investors. From networking and reflecting on your accomplishments to setting bigger goals and learning from the best in the industry – mastermind groups open doors that you may not even know are right in front of you. Besides masterminds, we also talk about our specific goals for 2022, why we think corporate careers are much more risky than a career in real estate, and what you should do if you’re tired of flipping houses but you still want to collect a passive income from real estate. Plus, you’ll get an update on our seller that was abducted (listen to ep 4 first for the full story, if you haven’t already)! Key Points From This Episode:Why we joined a mastermind group & What we think of Ryan Dossey’s Create Cash Flow Program compared to other masterminds. [00:33]Is it possible to become a millionaire or centimillionaire from real estate? [06:36] One of Dan’s biggest goals: Remembering the good parts of life.  [09:45]Comparing the risk and discomfort in a corporate career vs. a career in real estate investment. [13:06]Our biggest takeaways from the mastermind meetup & Dan’s new goals inspired by the mastermind. [17:43]What is our revenue goal for our investment business in 2022? [21:47]Update on our kidnapped seller. [25:12]What happens when you’re tired of flipping houses but you still want to invest in real estate and collect passive income? [27:02] Tweetables: “I think the main value of [a mastermind or meetup] comes from the after-hours socializing and the networking that you do. I think that goes for any sort of even like that.”  - Michael DeHaan [0:2:36] “It’s kind of funny looking back because you look at the group as a whole and you’re like 99% of these people would never talk to each other if it wasn’t for our mutual interest in developing a business this way.” — Michael DeHaan [0:04:43]  Resources Mentioned:Ryan Dossey’s Create Cash Flow Program Connect with us:Connect with Michael DeHaan on LinkedInFollow Michael DeHaan on InstagramFollow Michael DeHaan on TikTokVisit Dan Austin's websiteFollow Dan Austin on InstagramListen to more Collecting Keys episodesCollecting Keys Podcast on Instagram If you enjoyed this episode, please leave a REVIEW and RATE it on iTunes, Apple Podcasts, and Spotify!