Speaking Of Wealth Podcast: Sales Copy With REI Focus

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I was booked to to be interviewed by Jason Hartman, a real estate investing expert and a very prolific podcaster. By coincidence, we both ended up at the same conference just a week or two before our podcast interview. It was great to meet Jason in person and it actually helped us have a better podcast because we were more comfortable speaking together, plus he already knew a bit more about what I do.

In his podcast we talked about the importance of copywriting and sales funnels, particularly as they pertain to real estate investors.

Click here to listen to my interview with Jason Hartman about sales copy with an REI focus

Want to interview me on your podcast? Click here to learn how to book me as a guest.

Summary of the real estate investing conference I attended in Columbus Ohio

One of my clients is a turnkey wholesaler who does a lot of deals in a few different states. For the past couple of years, he’s held an event in Columbus Ohio called The Deal-Maker Experience. I’ve attended the event the past couple of years to connect with my client, plus a couple of my other clients attend there, plus it’s a great networking opportunity to meet new clients, plus I learn a lot!

This year, I flew into Columbus on Sunday June 14 and enjoyed the afternoon walking around downtown Columbus.

On Monday morning the event started. Actually, the event is divided into two parts: There’s an invitation-only mastermind of about a dozen people who meet Monday and Tuesday. It’s high level stuff and a lot of fun. I attended it and connected with a few of my clients who also attend.

Tuesday was the same deal. We talk about investing, building a business, long-term legacy planning, outsourcing, etc. The people who attend this portion of the event are doing deals all the time so it’s pretty advanced.

Wednesday was mostly downtime and I caught up on some sleep and a bit of work for other clients. Then Wednesday night people started arriving for the larger event. The larger event had about 200 people and it started with a cocktail meeting Wednesday evening.

On Thursday morning the education piece started. Many of the people in this meeting are new to investing — having never invested or having only done a few irregular deals. So this meeting is far more introductory. The host walked people step-by-step through the investing process, from how to build a buyers list to how to find deals.

Friday was much the same: Education, information, step-by-step strategies.

On Saturday we started the day with some education and I spoke about building marketing funnels. The audience was really receptive and the response to the call to action was great. Then the conference wrapped up and we all got onto buses and drove over to a rehabbed property. My client had bought and rehabbed the property and then he donated the house to a charitable organization that works with disadvantaged people by giving them a place to stay. After the event, we all went out to a local bar for a post-event party.

It was a blast. If my client hosts the event again next year, I’m definitely going!

TAKEAWAYS AND BENEFITS

  • I gained a ton of value from the event and it reaffirmed my belief that conferences are a powerful business-growth strategy.
  • I connected with a bunch of existing clients — some of whom I’d never met face-to-face before — so it was good to sit with them and learn alongside them and to spend some time strategizing with them.
  • I met many, many new people: Folks who became friends (and Facebook friends), potential clients, and joint venture partners. The important thing now is that I need to make sure I follow-up with these folks!
  • Between an increase in work from my existing clients, and the work I know I’m getting from my new clients, this conference had an ROI of 3:1 to 4:1.
  • I got a chance to speak in front of an audience and to sell to them. I speak pretty regularly but I don’t always get to sell from the stage and it was a good low-stakes way to test my skills here (because I didn’t NEED to sell anything to still earn a profit from the event). This has the possibility to boost my ROI by as much as 10:1, although time will tell as I’m still waiting for the orders (versus people who said they were going to order).
  • It was also nice to hang out in Columbus again. When I attended last year, the event was at an airport hotel so I didn’t have a lot of time or transportation to explore Columbus. But this year’s event was held at the really cool Westin Columbus which is in a more downtown-like section of the city.
  • I also pushed my own personal limits of doing work on the road. I tend to write best in a focused room without any distractions. (I’m definitely NOT one of those Starbucks writers — I’d be too busy people-watching). I work in a productivity-tuned environment with an ergonomic chair and an ergonomic keyboard; and when I do I can write A LOT! So I brought my laptop with me to the conference and would spend time writing in my hotel room. That way, I didn’t have to put all of my clients on hold while I attended this event. I can’t produce as much with a laptop keyboard before my wrists start to hurt but I can produce some. This conference helped to raise the bar on how much I can produce in an environment that isn’t my typical working environment.

What is due diligence?

Due diligence is the investigation and research that an investor should conduct prior to making an investment to determine whether that investment is right for them. This is true for any kind of investment — from stocks to real estate to businesses.

It’s technically a legal obligation for some investments but I would argue that it’s essential for any investment and, in fact, for any kind of agreement or acquisition at all, whether it’s your home or car, or even whether you’re thinking about entering into a relationship with someone. (In a way, it’s all an investment — your car is an investment of money into your ability to get around; your new relationship is an investment of time and energy into a friendship or romance).

Ultimately, due diligence should answer the question: “Is this investment right for me at this moment?

Good due diligence should first seek to understand that investment (or whatever) as thoroughly as possible. Then, it should consider what the investment means to you and your own goals and timeline.

HOW TO UNDERSTAND THE INVESTMENT

To understand the investment, you need to explore it thoroughly. If it’s a stock, you need to study the stock itself, the industry, and market trends (and so much more. If it’s a real estate investment, you need to study the marketplace, the tenants and property management company, and the costs of maintaining a home in that area (and so much more). Even if it’s a potential romantic partner, you need to know what they’re hoping for a relationship, how they enjoy spending their time, whether the attraction is mutual, etc.

HOW TO CONSIDER WHAT THIS INVESTMENT MEANS TO YOU

An investment, by its very nature, requires you to trade something of value for the potential of a return. That thing of value could be money, time, effort, or many other things. So it’s important that you know what is required of you (and whether you have that to give) and what you can expect. And perhaps most importantly, you need to decide whether the expected return is what you want. Many investors buy into something without really thinking about whether it’s right for them at this moment in time; they end up putting up too much value and receiving returns that they are disappointed with.

DO YOUR DUE DILIGENCE — ALWAYS

Regardless of your investment, it is impossible to perform too much due diligence. However, there comes a point when, practically speaking, you’ve done enough due diligence to move forward. I don’t think people have a problem with the idea of due diligence; rather, I think people do too little due diligence.

(Side note: As a real estate investor, I hear a lot of people say that they’re doing their due diligence but what they’re really doing is being stalled by fear and they are allowing that fear to catch them up into a loop of “analysis paralysis”. Strangely, I only see this in real estate and business investments — never in the stock market.)

Do not leave your due diligence in someone else’s hands. Sure, your financial advisor might help you perform some of your due diligence but don’t think of them as a replacement for due diligence! Do it yourself. Be thorough. Don’t rush.

Check out some of my other writing on due diligence including:

My 17 rules for investing (regardless of the investment)

I love investing. Stocks, real estate, businesses, you name it.

Here are the 17 rules I invest by.

  1. Every investment has a return: Either money or education.
  2. Don’t be an investor: Be an engineer. Don’t invest in anything you can’t control (and learn the levers that will provide a return).
  3. Redefine your idea of risk.
  4. It’s impossible to completely derisk any investment.
  5. Invest primarily for cash flow.
  6. Define why you are going to invest in something. (For me, I almost always build my investment decisions around what a business’ sales funnel looks like.)
  7. Define what would make you sell it: List specific triggers with all possible exits.
  8. Do your due diligence.
  9. Become an expert in just a few things: You can’t fully diversify so instead go the other way and become an expert on a few things.
  10. There is no such thing as passive income.
  11. Reinvest a portion of your income into more investments.
  12. Be courageous — things will fluctuate.
  13. If you want to scale, you need a system.
  14. Master yourself and get comfortable with uncertainty.
  15. Be a contrarian.
  16. Decision, action, and commitment are the 3 qualities of an investor.
  17. There is no perfect time or perfect investment. There is only “pretty good right now for me.”

Report on a real estate investing conference in Columbus Ohio

One of my clients, Mark Evans, is a real estate investor and I’ve been working with him since 2008. We talk frequently via email, text, and phone but I’ve never met him in person.

So when I heard that he was holding a conference in Columbus Ohio (a really cool conference — more on that in a moment), and since my schedule allowed it, I jumped at the chance to go.

EVENT DETAILS

The event was actually two separate “mini-conferences”, scheduled consecutively; and I attended both. I flew in on June 17, stayed until June 21, and the event was held at the Columbus Airport Marriott (nice hotel!).

Here’s a picture of me at an airport enroute…

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June 18 – 19: The first mini-conference, called a Deal-A-Thon, was more like a 2-day workshop/coaching session for 12 real estate investors. We spend both days building our investing businesses and working through the intricacies of doing deals. This was a super-hands-on invitation-only experience among real investors and we actually did some deals while we were there. I don’t have any pictures from it but just imagine a dozen people sitting around a room with notebook and laptop and phone.

June 20 – 21: The second mini-conference had a much larger attendance — approximately 200 people. We spent the first day in a super-long marathon session in the hotel auditorium going through the steps of building a real estate investing business. With the large number of people, the information was useful but at a much basic level. The second day included a bus tour as we drove around Columbus looking at properties and discussing property valuation and exit strategies. On the afternoon of the second day, we went to a house giveaway event, in which my client partnered with former football player, ex-con, Comeback Project founder Maurice Clarett to giveaway a house to a family in need. It was a really cool experience. Here’s a pic from the house giveaway ribbon cutting ceremony…
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By the way, if you ever want to sponsor or donate to this worthy cause, go over to the HouseGiveaway.org.

WHAT DID I LEARN?

I went for a few reasons:

First, I finally wanted to meet my client.

Second, I wanted to participate in the House Giveaway (I’ve been a sponsor for a couple of years and I wanted to go in person).

Third, I wanted to attend a conference for the networking opportunity. I’ve attended a couple but I’m started to ramp it up a bit more.

Fourth, I wanted to fill in some gaps in my knowledge of real estate investing.

I got all of that… and more. It was an insanely good time. Not just because I ate more steak and drank more beer than someone should drink. But more-so because I went totally focused on building my business, as my game-face indicates…
AaronHoos-gameface

… I learned a lot and what I particularly liked about the Deal-A-Thon (the first mini-conference) was how hands-on it was. It’s very common in conferences to get information and to file it away in the “nice-to-know” section of your brain, only to completely ignore implementation. But this Deal-A-Thon was all about implementation. And since it was invitation-only, the people who showed up were high-achievers and were all interested in succeeding in their investing businesses.

I also made some amazing connections with other real estate investors — not just new friends but prospective new joint venture partners for any real estate investing I do, as well as new clients for my Real Estate Investing Copywriter brand.

This was a business-changing event for me. In just a couple of short days, it skyrocketed different parts of my business to a new level that I didn’t even dream of achieving. I’d like to attend other real estate investing conferences in the future but I intend to attend this particular conference again.