Real Estate Investing Mentor Helps You Find The Hot Pocket Areas In Your Area.
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Speaker 1 (00:03):
Yes. Hey, good evening, everybody. Peter Beck. So many year hope everyone’s doing super-duper. It is Tuesday night live. This is our most, most, what should I say? Most consistent thing we’ve done here in terms of like, from the time we started partnering with people, a number of years ago, the one thing we have stuck with our Tuesday night live webinars. And we do that because we found out that a lot of our partners actually become partners after, after attending one of these webinars. So somehow it’s kind of become a default gateway. Um, so why don’t you, if you don’t mind share with me, share with me where you’re dialing in from what’s up Shane? What’s up Eugene? How are you buddy? What’s up, Brad. Brad. I knew you’d be here. Um, all right. Share with me. What city, what state? Or just anywhere put in chat where you’re dialing in from.
Speaker 1 (01:08):
It’s always nice. Uh, always, always nice to know. What’s up Mike up, Carolyn. Hey, what’s up Graham Graham. You’re just part of the family every night. Hey Michelle, how are you? What’s up Maria. We got California in a house. We got Tammy from the AA in the house for Virginia. What’s up? Got you from Texas in the house. We got their old Phoenix in a house. We got wrong from Woodstock, Illinois in the house. What’s up, Isaac. How are you buddy? CA California in a house. One of our favorite markets to do deals in what’s up, Doug? How are you Pittsburgh? Not too far from where I grew up one state nearby near Cleveland, Ohio. I’m sure you know, Akron, Ohio. Uh, what’s up Ted. I had a great Ted, um, trip to Tampa. And the interesting thing is, I don’t know if anybody here smoke cigars.
Speaker 1 (02:06):
I’m not a frequent smoker, but I was in Tampa. We went to a cigar shop. And for those of you that know anything about cigars, you know, there are two are a family and the grandfather was standing there from their tour of 20 family. So that was the last time I am at the Tampa. That was my highlight. What’s up Michelle? Hey, South Carolina, Melissa in the house. How are you? How are you? How are you? How are you? Um, we got coming Georgia in the house. We got Chicago Marietta in that house, Louisiana Baton Rouge. I know Julia just bought a house in Louisiana. Um, and, uh, I think it was Louisiana from what I remember correctly. So she just did a deal there herself. She was there visiting and she saw how she liked. Now. She goes there all the time, saw a house she liked and, um, called on just, you know, used our app, found who the owner is called on it, negotiated the deal and bought it like a month or two ago.
Speaker 1 (03:07):
Of course we got Georgia and the house desert of Southwest with Graham, Kent, Washington. I, Michelle, I can honestly say I’ve heard of Washington, but I’ve never heard of, and I’ve heard of Kent, but I’ve never heard of Kent Washington. Uh, of course we got Delaware with Gordon. How are you buddy? What’s up Maria from California. Uh, just started a new partner in California, Ana um, wait, I don’t know if she’s in California. Maybe not so Texas and a house Phoenix again, Illinois and a house Pennsylvania again in a house. Someone else from Florida and the house. Um, awesome. Awesome. LA now switch up, John. How you doing buddy? All right, guys. We’re going to get started here just a couple seconds. We’re going to talk about some REL irrelevant stuff today. We’re going to, I’m going to teach the guys don’t mind. You know, we do call kinds of Tuesday trainings.
Speaker 1 (04:10):
Sometimes we talk to one of our partners. Sometimes we’ll talk about deals. Sometimes we talk about like inspirational stuff today. I’m going to teach you some stuff. I hope you guys don’t mind, right? Like if you’re going to knock things out of the ballpark, you want to, um, um, you gotta have some taboos, right? What’s up Dimitri? How are you buddy? Maitri one of our new partners here. Just getting started here about a week or two ago. Good to see you. Good to get to have you here. Um, yeah. So today I’m going to teach to them, going to teach some implementable stuff. Uh, for those of you that are partners, you may have heard me talk about this already, but it’s always good. Always, always good to get better and better at the basics, right? There’s things that I’m studying about real estate that honestly I’ve studied like for years now.
Speaker 1 (04:57):
And people will be like, dude, why are you still studying this? Because I want to get better and better at the basics. I actually wrote a book a while back, a buddy of mine, Joe McCall, and I wrote a book and we called it brilliant at the basics. And so basics, basics, basics. Hi guys. Good evening. Good evening everybody. My name is Peter [inaudible] with partner-driven investing so glad you guys are here. Tuesday night live. We’ve been doing these live Tuesday night webinars for really as long as we’re, as long as we’ve been partnering with people. And, um, and we initially launched the Tuesday night series because it was a way for us to kind of spread the message of partner driven. And interestingly enough, you know, years down the road of where we are now with partnering with people and doing deals with, with partners across the United States, when people start with us.
Speaker 1 (05:54):
Um, and I always, I always like to ask, like, how did you hear about us? And right now today’s day and age, there’s two, two common answers. One me on social media somehow. Cause we all know today’s world. You know, social media is kind of where you become an open book, two people. So they always say, you know, we followed you on social media somehow, but the second answer is always been, and then I’ve watched him one of your Tuesday night live webinars or recording of one of those and all that. So, you know, we were sticking with these Tuesday night webinars cause we feel like they’re great for people that want to get to know us, but they’re also great for people that already, you know, us, right. It’s a good way to connect with you guys. Another, another touch point, another way to teach you all another way to get closer with you all.
Speaker 1 (06:45):
But again, my name is Peter. [inaudible] the name of our company is partner driven and um, it’s a very unusual, usual name and it’s a very unusual model. We do. Matter of fact, that was just earlier today. Um, a couple hours ago, given an interview to some, um, with a podcast and they asked, I see the question that doesn’t get asked a lot, but it’s starting to get asked more and more. And the question was, who else does what you do? Like who else partners with people across the United States? Um, you know, there’s always partnering at the local level, right? We hear about that stuff. You know, people partner at the local level, try to do some, do some deals or try to do some deals together. Um, but the question was Pete, like, can you pinpoint a name of a company who literally does what you do United States?
Speaker 1 (07:33):
And, um, I can’t, I don’t know of another company who does what we do at the national level, because what we do is we literally partner with everyday people across the United States, whether they’re a brand new real estate investor or whether they do investing for a long time and they want to level up and get to the next levels and we do real estate deals together. Now how we win in this model is very simple by helping our partners. In essence, what we’re doing is we’re helping ourselves right by helping her partners do deals. We’re helping ourselves to deals. It’s very, very simple. Um, you know, for a number of years, I was cheating just on that statement because when we initially started the partner model, we didn’t shut down our own investment company. So we were full blown, our own investment company, doing deals and people many times with like literally confront me and say, well, Pete, that’s not really true because you’re still got it going on, doing your own stuff.
Speaker 1 (08:28):
You know, you’re still marketing out there. You know, we’re still receiving postcards from you and all this. And, and to a degree that made sense, you know, I would tell people that, you know, it’s on our best interests. Um, until a couple of years back, we actually said, you know what? Let’s put the gauntlet down. Let’s shut down our own investment company to literally prove to people that we are 100% all in to, to the partner model. And we did, we literally shut our own investment acquisition side down. Cause that’s how you shut down an investment company, shut down that the deal flow. Um, we didn’t get rid of any of the people. We brought old our people to what we do now, and that is helping our partners across the United States. And so now I can very clearly state that we are all in to the partner model and literally the only way we grow now, now we still, every once in a while do a couple of deals ourselves.
Speaker 1 (09:22):
But those deals only happen because we’re sometimes experiment with new things. We’ll experiment with a new marketing strategy is some kind of a new technique. They were like, you know, it’d be for throwing it to the partners. Let’s do it ourselves. So here and there we’ll do a deal, you know, once every couple of months. Um, but we truly are a partner driven real estate investment company. And what that simply means is that all of our deals happen as a result of helping people across United States, close on their own real estate deals. We coach him through the process. Uh, we help them with lead generation because if you can, you know, I would tell people every day you could be the smartest guy in real estate. I mean, there is people in real estate that are like 100 times smarter than me, right? Like if I was sitting here and they were sitting here and we were talking about real estate, you would immediately realize, well, gosh, Pete’s not that smart.
Speaker 1 (10:11):
Right? So in real estate, it’s not just about knowledge. They’ll knowledge is very important. It’s about the implementation. And the first piece of that implementation is identifying, identifying the right deals, right? So not only do we coach our partners and mentor them and hold them accountable, but we also help with lead gen that’s a big piece. We help them find deals. We provide technology to our partners, you know, in today’s marketplace having access to technology, or if you take it to the next level, having access to information is very, very critical. So we provide that to our partners. Uh, we provide capital, you know, we used to kind of provide capital only on the fix and flips because that was really where the capital was needed. We did a lot of wholesale deals. Um, but before like capital wasn’t really needed on wholesale deals. Let me tell you something.
Speaker 1 (11:03):
If you’re in real estate and you’re like, I don’t need money. I’m wholesaling, those times are changing and they’re like changing quickly. We’re seeing this tide across the United States. We’re now even at the wholesale level, you have to be able to fund the front end transaction before you could wholesale it in the back end. So we provide all the capital to our partners on a short-term wholesale, flips and longer term fix and flips. And then we sell them and we split the profits. The partner keeps half an it pat, or we keep half. And that is the partner driven model. And, um, um, what I want to do with you guys today is I want to do a little teaching. I want to do a little teaching, whether you’re a partner of ours or you’re not a partner of ours. I think today, what I’m going to do is I’m going to hopefully shorten the learning curve.
Speaker 1 (11:48):
You know, a lot of times people ask me to summarize, and again, it happens a lot of times at these interviews, people say summarize what you do. Like if you weren’t going to spend five or 10 minutes explaining what you do. If you were to explain like five seconds of what you do or 10 seconds will, what you do. You know, my always my answer to it is very simple. We provide what we call, what I call pillars of success and shortcuts and shortcuts to success. When it comes to real estate investing. And today I want to show you and talk to you and teach you one of these shortcuts that I was taught. Gosh, I came to think when exactly I was taught this, but I was taught this probably about 18, 19 years ago. Um, I’ve been at this thing for about 22, 23 years.
Speaker 1 (12:32):
Um, but, but you know, right around 18, 19, 20 years ago, I was taught what I’m going to teach you today. And the interesting thing is, although real estate does change, we all know that it changes. It fluctuates. It goes up, it goes down, it appreciates it depreciates there’s times when real estate, when there’s, they’re throwing money at us as investors, there’s times in real estate where you can’t borrow a dollar. I don’t care if you’re the most successful investor. You know, there’s times where interest rates are high there’s times of interest rates are low. So one thing, marketing techniques change, acquisition techniques change. So one thing we know about real estate is a constantly in a state state of change. Having said that the interesting thing is what I’m going to teach you tonight has not changed. It has, if this was true, you know, 18, 19 years ago, when I was initially taught this and started utilizing it to my advantage, to do real estate deals and be smart in the real estate business, I can honestly say to this day, I still teach this.
Speaker 1 (13:28):
I teach this to the new partners, to the partners that are more senior partners. And this is true. This has held true across the board. You know, sometimes I ask myself like, what would change? What would cause what I’m about to teach you to change? Like what kind of market condition would have to happen? What kind of, um, scenario would have to take place? And I can’t say, I don’t think so. I think if you really grasp what I’m going to teach you today, uh, but beyond grasping start implementing, you’ll see, this is like dead on bulls-eye across the board. Like if you don’t know it, like some of you guys will know this because you may have been partners. You may have seen me teach this and this will be a good reinforcement, but if you’re never heard what I’m about to teach you, um, it’s gonna logically make sense.
Speaker 1 (14:18):
But most importantly, when you actually go out there and implement what I’m going to teach you today, you’re going to be like, wow, this is like this isn’t in the app. Pete’s right. This is an absolute shortcut when it comes to real estate investing. And so what I’m teaching you today is very simple. How do you zero in on where to spend your time, money and efforts on, in, in, in the real estate industry, as it relates to your own personal market, right? It’s a question that if you try to do this business to any degree or any level, you should have asked yourself, right. And if you haven’t asked yourself, it just tells me you’re probably not far enough along because anyone that starts implementing this business sooner or later realizes like, where do I do this thing? Um, you know, most of us live in cities and towns or near cities and towns, we’re going after deals, right?
Speaker 1 (15:10):
Like I live in Atlanta. How in the world do I choose where to go after deals? There’s like, I think the last I heard there are 8 million households here. Right? How in the world out of eight meal, million households, can I zero when I talk about a needle in a haystack, right? How can I, and out of 8 million opportunities to zero in on, maybe let’s say, I want to do 12 deals this year, right? How do I find these 12 deals out of 8 million? Right? And that’s becomes a daunting task. And I could tell you, if you don’t understand, if you have not done what I’m about ready to teach you, this is another reason why people do not succeed in this business. You know, the big reason why people don’t succeed in this business is very simple time. Time, time is what knocks people out of it as a business. And what am I mean by that is this. They run out of time, right? They run out of time because they might be frustrated. They might run out at the time because they might run out of money. They were on a time because they think that, well, I’m not successful. So I’m going to quit really in the end. Anyway, you look at a time is what knocks people out of this business.
Speaker 2 (16:18):
Speaker 1 (16:19):
Does become of an essence. Now, if you follow me at all, and if you’ve heard me talk about success, I always say time needs to be put totally out of the equation. I don’t think there are any successful people, right? Any successful people that ever got successful and they put a time limit on it, right. You know, there’s a very famous, uh, interview that Alon Musk does. And they ask them a question, um, when everything was crushed crumbling around him and he didn’t have the money, he didn’t have the finances. He didn’t have the belief. He didn’t have the backers. You know, uh, all those things that were going wrong was at least quitting one option and Alon Musk’s looks at the guy interviewing. He said, no, putting was never an option. So the one thing successful people have is they understand timelines. Timelines are good for evaluation making adjustments, but they’re not good for quitting.
Speaker 1 (17:13):
Okay. But the reality is I also know the timelines do exist. You know, everyone has their own shelf life. Um, whether I agree with that concept or not, it’s still a reality. So one of the things that becomes important in business and especially in real estate, is how do you short your timeline, right? Even if you don’t have a timeline, even if you’re in this thing to win forever for a forest, however long it takes, I would still, and I’m sure you would still love to shorten that timeline, right? And the way you shorten that timeline, as you start implementing these successful shortcuts, these successful pillars that’ll create shortcuts for you. And one of them is what I’m sharing with you today. When you take a city like Atlanta, or take a city where you are, how do you break 8 million potential opportunities to very focused opportunities, right? How, how do you take a town this size? Because like what let’s, let’s face it.
Speaker 1 (18:15):
And we start this business. It really doesn’t even matter if it’s when you start it. You always have finite resources. Even if you don’t have a timeline on success, you still have to find that resources. What do I mean by that? Most people don’t have, I don’t know anyone’s ever had an unlimited marketing budget, right? So if I have this daunting task, I’m in Atlanta, Georgia, I got 8 million opportunities in front of me. Let’s say, I want to do 12 deals this year. How in the world do I go after it? Yeah. Million to find 12. The answer is I can’t, I don’t, I don’t have enough money. I don’t have an infrastructure to support that. I don’t have that resources. I don’t have the manpower, everything. I need it. 99.9 9 9, 9, 9% of people can get to. So what I’m here to do share with you is that you don’t have to go after all eight meals and people and where you live, right.
Speaker 1 (19:08):
Where you live, whether you live in a S metropolitan city like Atlanta, or maybe you live in a rural area, there are actually ways to pinpoint and identify certain smaller, the keyword, a smaller pocket. It’s where you live that have the propensity. I don’t know if that’s a word propensity, put, it’s a word, but I’m not pronouncing it. Right. Um, but there are actually ways to take 8 million and carve out specific pockets out of there. And these specific pockets, literally we’ll have almost all the good deals warehouse there. Now, if you think about it, that’s a powerful statement. I just made it in it that you could literally take like a field of 8 million and narrow it down to such a level where you could literally start pinpointing that I don’t need to go after the 7 million, 900,000. You know, whatever that number is. I can literally very strategically diagram things out and make something a mountain, make it into a much, much more feasible, much more, uh, much more accomplishable task.
Speaker 1 (20:27):
And when, uh, a lot of times when I talk about this people, if they’ve never heard me talk about this, they, Hey, they can’t believe it be. They’re like, well, that’s wow. Why didn’t anybody taught me that? Well, that’s actually a reality. And I could tell you even here in the, in, in the Atlanta market, which is, you know, when I started real estate, I was in Atlanta. And to this day, I’m in Atlanta. Well, when we fully switched to the partner, the model and stopped doing our own massive marketing all the way from the day I started to the day I ended, we stayed in these small, specific areas in pockets. Why it’s very simple in these areas, in these pockets. It is very logical to say that again, overwhelming majority upwards, about 75% of all deals are located. So think about this, think about this concept.
Speaker 1 (21:22):
I take a city like Atlanta, 8 million people. Okay. And I’m here to tell you that you could, zero in on pockets were 60, 70, 70 5% of all the deals are, and literally get rid of, let’s say 98% of all other opportunities that are potentially there, but not really valid. Doesn’t that make sense? To just focus on these couple of pockets? Yeah, absolutely. Absolutely. And so, so the shortcut of success, the shortcut of shortcutting your timeline today is very simple. How, how do we identify these specific pockets? Oh, and by the way, as long as I’ve been doing this, and I’ve been doing local investing, regional investing in national investing for many, many years, I can tell you these pockets exist everywhere. And the concept of finding these pockets and staying focused there doesn’t change anywhere. So it doesn’t matter if you’re east coast, west coast, Midwest area, OutWest area, Southeast area.
Speaker 1 (22:27):
I have never, to this day, I’ve not been able to work anywhere in some area where we could not identify these certain pockets anywhere. So the good news is it doesn’t matter where you live. It doesn’t matter where you live. These pockets pockets exist literally across the United States and literally across every single city and across every single town. Now you may say this, you may see this, uh, well, I want to go after everything like, and I have people told me that, listen, Pete, I live in a manageable area. I live in, um, uh, I live in a small enough area. And my answer to that is very simple. If you could strategically pinpoint where 70, 75% of all the actionists, even if you can attack your whole area, why would you wait all that money? One after 20, 25%, when you could spend a hundred percent of your money in a hundred percent of your time and a hundred percent of your resources and go after the 75%, right?
Speaker 1 (23:42):
Why would you dilute the 75% to go after the 25%? It makes no sense. So the good news here tonight is that no matter where you live, these pockets exists no matter where you live, you should be focused on these pockets. And the good news is tonight. The way I’ll explain it here, it only takes me a couple of minutes to explain this, because these are not rocket science things. I’m about ready to explain to you. Literally tomorrow you could, uh, I’ve had people come back after I taught them this concept, people that have been doing this business for a while, like not new, these, but people that have been at this real estate game for a long time, have they even done deals? And I’ve had literally them contacting me after like me teaching them this. And within a day or two said, Pete, we have rearranged our whole business model within a day or two. Come back to me and say, Pete, we have taken our marketing budget. We have taken our time. We have taken our resources and we’ve totally rearranged that based upon what you’ve said and what you’ve taught us.
Speaker 1 (24:53):
So all this to say, I like to think I teach what I call once again, shortcuts to success when it comes to real estate investing. But I also will tell you none of these work, unless you implement them. What I want to share with you, every single one of you would be like, I got it. Like there is no one that’s going to be confused tonight. There’s no one going to be sitting here tonight and say, well, wow. That is like, unbelievable. I’m going to have to play the recording to maybe some scientists. I know. So you can diagram this thing back to me that ain’t going to happen, right? Because remember I’m not the sharpest cookie around. So if I’m explaining it, that means I get it. That means you get it right. But it’s not a matter of getting it. It’s a matter of implementing it.
Speaker 1 (25:37):
Right? So all this to say, this may be a good time to grab a pen or a pencil. This may be a good time to take some notes. Although usually when I talk, I don’t want people to take notes. Cause I talk at a very basic common sense, um, levels. But this potentially could be night. This could be a time where you may want to take some notes because I’m going to literally give you a very black and white description of where starting tomorrow. If you’re not some of you already doing this, like, especially if you’re a partner, you probably already are to a degree. You’ve heard me talk about this. You’ve heard me teach this. And you may be very well, you know, implementing this already. But if you’re not then make tomorrow the, that you’re the first day to marketing into the right areas.
Speaker 1 (26:23):
Because if you can go after a 70, 75% of all the action, why in a world where you try to go after the 20% of all the action, right? So step number one, step. Number one, when it comes to these pockets, I always tell people as good as these pockets are, don’t put all your eggs in one basket. And what I mean by that is don’t zero in on one pocket, you know, sometimes people will be like, wow, okay. So I got to find that, uh, that perfect pocket. No, no, because even here in Atlanta, as much as I’ve been searching, you know, for 20, some years of doing deals here, I can’t find it. So these pockets, these pockets, not a perfect pocket. It’s a combination of having. And I always tell people somewhere between three to five pockets. So if you live in a big city like Atlanta, okay, you want to stay in that upper end.
Speaker 1 (27:18):
We had like 5, 6, 7 areas that we did, like almost 80% of all of our deals. Right? If you live in a, kind of a, more of a rural area, small town, you may need to just find maybe three, maybe potentially even two of these pockets. Okay. Um, that will give you another, in another shortcut, no matter where you live, try to work in a city where there’s some people, right? Like if you live in a town and it’s got a hundred people in it and you’re trying to do deals there, that’s not setting up for failure. That’s setting up for success. Right. But the good thing is almost all of us live in areas where we can get to bigger cities, bigger. Don’t have to be the biggest, like I’d done tons and tons of deals in Atlanta. People think I’m from Atlanta. People think I live in Atlanta.
Speaker 1 (28:03):
That’s not true. I live way. I mean, in traffic it would take me two hours to get to Atlanta. But I live in a very tiny town in a, I lived in a very tiny town as I was doing deals in Atlanta. And I knew that if I would just stay focused in that little town, there wouldn’t be any action for me there. Right. So I’m like, okay, what’s the nearest kind of major city. It’s Atlanta, Georgia, which could take me a couple hours to get there. I’m like, okay, well I want to make money. So in a first, you know, 10 years of my career, I drove to Atlanta two hours, one way in traffic and two hours back. Um, so be smart, be in areas where there’s some activity. So step one, step one, identify somewhere between three to five of these, what I call hot pockets.
Speaker 1 (28:52):
Okay. Step number two. What are these pockets? What are the characteristics of the pockets? What is this thing I’m talking about here for the last 30 minutes and not like, you know, getting into the nitty gritty. We’re here’s the nitty gritty because ultimately you got to understand, you got to be able to like, okay, where are, what are these pockets look like? And the best way I could describe these pockets is very simple. When you were in these pockets, like when you, oh, by the way, each pocket usually is a couple of miles in diameter. You know, if you want to know how, how big is each pocket, each pocket is approximately couple miles in diameter. And what I say by that is you’re not looking for that one perfect block. You’re like, oh my God, this is the perfect block that Peter was talking about because there’s not enough activity in that perfect block.
Speaker 1 (29:40):
But at the same time, you’re not also looking to say, oh my gosh, Pete, my whole, my whole 8 million people, cities like that, no isolate, isolate, isolate, and isolate. Because even if you live in a town that is kind of fits the mold of what I’m about to share with you, you still need to isolate in zero one uncertain ones because you don’t have the resources or the infrastructure like here in Atlanta, if I were to say, oh, 8 million places around here fit this mold, I don’t have the resources or the operation to go after 8 million. So even if you do say to yourself, when I’m done here and shortly that wow, Pete, my whole town, that’s good that most of your town fits the mold. Having said that, I still want you to isolate. I still want you to isolate somewhere between three to five areas.
Speaker 1 (30:31):
So what do these areas, what do these areas have inside of them? And like I said, the best way I could describe to you these areas is when you are physically in them, right? Let’s say you are physically driving your car in them. You are going to be seeing a all kinds, all kinds of different real estate and be all kinds of different people, all kinds of different real estate and all kinds of different people. So what do I mean by that? Well, let’s say, let’s say you’re in one of these pockets and you and I happen to be chatting, chatting on the phone. Okay. We’re talking on a phone and I say something like this, I’ll say, hi Gordon, what do you see in front of you here? Like you’re driving through it. What do you see? The word? The word that should come to mind is immediately.
Speaker 1 (31:31):
You would be thinking like, gosh, Pete is, I’m driving through this pocket here that you just told me to find. What I’m really seeing is a all kinds of different people, all kinds of different real estate. The word that you should be hitting your mind is mixture. Mixture. You’re looking for pockets that have a mixture of stuff there. So for instance, what do I mean by mixture? Um, so you could be driving in that pocket and you may see, um, you may see it let’s say a four for sale sign, right? So you’re driving, you see for what does a for-sale tenant tell you a for sale sign tells you that homeowner lives there, right? I’m a homeowner. I got own. I own a house. However, that looks like, and I’m selling it. That’s what a for sale sign is. It means there’s ownership there, but then you’re driving an exact same pocket and you may actually encounter a for rent sign.
Speaker 1 (32:26):
Well, what does a for rent sign tells me that tells you renters live there also. So you may have actually mixture of renters and homeowners living next to each other. Okay. You may be driving there and you may, um, you may see like a newer house, like, I don’t know, five, 10 year old house. And then you, like, I look across the street and you got obviously what appears to be older house, you know, 60, 70, 80 year old house. Okay. Um, you may be, um, you may be driving there and you may see, um, a smaller property across the street. You may see a larger property. You may be driving there and you may see a fixer awkward. Like you come to this house like that is right there. A fixer upper. And then all you do is you go a block or two down the road and you see an absolutely drop dead, gorgeous property.
Speaker 1 (33:29):
You might be driving through this pocket and you may see, um, uh, the dental house, like a bunch of houses, right? And then all of a sudden, out of, out of no hair, you see a commercial building, right? You may see the houses, you may see commercial building and all of a sudden you come across in an apartment building, you starting to get the picture. You may we’ll see a mixture of people in these pockets. You may be driving there and outside, you see a white guy walking around and then across the street or right down the road, you may see a black guy walking around.
Speaker 1 (34:07):
So the question that you’re asking yourself when you’re driving through here. Okay. Um, yup. You may see churches there. You may see guests. They show there the, the real, the real there. There’s the answer to the questions mixture. Are you seeing mixture? They’re new. We’re older renovated. Non renovated. For real. Yeah. For sale white guys, black guys, a residential commercial, maybe gas stations, maybe churches like Michael sang, literally a mixture of people and a mix. Sure. Real estate. And as you’re driving through this area, if you’re like, yep. I see a mixture, then you got it. Then you got it. You got a pocket, you got an area to stay focused in on, you got an area where it has a, a tremendous upside for finding deals. So the question some of you may have, obviously that was, why is that? Why am I looking?
Speaker 1 (35:08):
And by the way, as I’m describing these two, you might have a strip mall. Absolutely. Is I’m describing these two, hopefully in your mind, probably in your mind, you’re already thinking of a couple areas, right? I’m trying to, I mean, distinct enough, picture a distinct enough, picture that in your mind. Hopefully you’re already like, yes. I know exactly. Like if lived in an area for any like the time we all know these pockets, right? We all know these areas. Now let’s go ahead and start, uh, putting some logic. Let’s go ahead and start putting some logic behind there. Why do, why do we want these kinds of areas? And why do we want these kinds of pockets? Because in these pockets exists, something that almost does not ever exist outside of these pockets in terms of at least the, uh, the propensity. There it is.
Speaker 1 (36:13):
I am using the propensity, that word that I can’t pronounce, but I know it’s a word. I know it’s a word, but in these pockets exist. When I’m about to share with you that many times does not exist outside of these pockets. And here’s what happens. Propensity. Thank you, Gordon propensity. See, when you spell things out, it’s a lot easier. Um, here’s what exists inside of these pockets inside of these pockets, because you have this new or older renovated not renovated, but then you couldn’t hear what you also find are, what are we, what we call as investors, pricing fluctuations. What I mean by that is in these pockets. You’re going to, like, let’s say you’re driving one of these pockets and you see a for sale sign. You call on it. They’re like, we’re asking, I don’t know, 80,000. And then you just go one block road down and let’s say, there’s another house for sale. Then you call on that. Like, how much is this? Or whatever. It might not even be house. And you call on that property. And they’re like, well, it’s 200,000. And then you call on some other for sale signs in these pockets. And you realize you got places for 80,000, 200,000, 30,400,000. What you have is what we call pricing fluctuations. Now follow me on this is very important mixture of real estate.
Speaker 1 (37:44):
Create what we call in real estate or what is known real estate as these pricing fluctuations. And that leads us to the next fact about real estate pricing fluctuations create one of the top environments where almost all the good deals are located. So here’s the logic all the way through the process. The reason that we use investors always when we start out or when we learn this one to identify these pockets is because inside of these pockets, we have all types of different real estate and all types of different people.
Speaker 3 (38:33):
Speaker 1 (38:34):
Statistics tell us that all types of real estate and all types of different people in a small condensed area, a couple of miles wide create these pricing fluctuations. And then if you extend statistics to the next level in real estate, we know that pricing fluctuations create the number one environment, romance. We’re almost old, a good deals are located. So let me take a crack at the exact same thing in a totally opposite way. If you think about it, if you think about it, what’s the opposite of these pockets. What’s the opposite of these pockets that have a mixture of everything. Well, the opposite is just areas that have the exact same thing everywhere. Right? We all know those areas too, right? We all know areas. Then when you go, they’re like, wow, it’s like one builder, one type of house or whatever, right.
Speaker 1 (39:33):
He’ll state the technical term for that is what we call cookie cutter. Right. And we’ve all seen cookie cutter. Like you’re driving through these areas and it’s like all the same stuff, right? It’s all like three bathroom, three bedroom, two bathroom, two a hundred square feet, three bedroom, two bathroom, 200 square feet, three bedroom, two bath. Right? We’ve been there. So watch this. And I’m just proving to you why the opposite of mixture, which is not mixture, but the same is not a good area. Think about if you’re in one of these areas where everything looks the same. Right. And let’s say just, I don’t know, just for example, let’s say the medium, hot price of a house there is, let’s say 150,000, right? Everyone’s selling the house around 8,000, right? Well, if I live in that area and my house looks like every other house and every other house is selling for 150,000 and now it’s, I want to sell, what do you think I’m going to price my house for about 150,000, right?
Speaker 1 (40:37):
Everyone’s getting their one 50. Why in the world would I sell it for 60? There is no logic behind me doing that. Cause I know what you’re somebody you’re thinking like, well, but what if trouble, even if I’m in trouble, what I may do is I may come down low enough just to be ahead of the market. So maybe not, instead of one 50, I’ll sell it for one 40. So it becomes apparent to everybody or maybe even 1 30, 1 35, if I really got to get rid of, but still from an investor’s perspective, this is not a big enough margin for us to buy in. So the reason and that we as investors stay away from these areas where everything looks the same, these cookie cutter areas, there’s because the logic in these areas is totally opposite. And then the logic in those other areas, because everything tends to look the same. It also be tends to be priced the same. It’s just harder to find deals. There is a possible gap. There’s that 20 to 25%.
Speaker 1 (41:43):
There’s that 20 to 25% of deals that are there. But if you’ve got limited time, limited money, limited resources, limited, limited, limited, limited, limited. Are you going to chase after the 20, 25%? Or are you going to chase after the 70, 75%? Right? You got to three times, if not more, I think it’s actually more, I’ve just been using these stats cause I got them a while back. But I think in today’s world, it’s probably even more because in these kinds of mixture areas, the other thing that happens, people tend to get in trouble more there, right? You’re in a million dollar neighborhood where everything looks the same. Everything’s just top-notch even when those people get in trouble and they can, they got more resources to handle their problems than these kind of mixture areas. So we stay away from areas where every you’re driving through.
Speaker 1 (42:42):
They’re like, whoa, this is a cookie cutter area. Stay away because, because everything tends to be priced the same. I’m sorry. Everything tends to look the same. Everything tends to be priced the same. Even when motivation happens, they don’t do 50% price drops. They do five, 10% price drops just to stand out and sell fast. And almost all of them sell to consumers. They don’t go to investors in those areas. Right? I mean, you could, you could like if you’re not, if you’re doubting what I’m saying, you could literally go find it cookie cutter area where you are. And then you look at the tax records of all the sales and you’re going to see all the sales were from homeowner to homeowner almost across the board. Very, very rarely do you see an investor jump in there again, we’re talking percentages today. Not saying it doesn’t exist, but I’m competing in an area of seventy-five percent, not an area of 25%, because if I can increase my chances, threefold, like not like little bit by threefold.
Speaker 1 (43:41):
Why in the world would I not increase my chances by threefold? Right? It makes no sense whatsoever. But, but if we go back to, um, if we go back to those hodgepodge, I call them hodgepodge. But if we go back to those areas where you have this discrepancy and everything is all over the place, because it’s all over the place, prices are lower, the price. And statistically, again, statistically, we know that that’s where all the action is. So my challenge for you tonight today is very simple. If you have not implemented this, if you are not strategically spending your time, if you’re like literally running like a chicken with your head cut off in a city of many people and chasing many things. My challenge is very simple. Get focused, get focused. See, I don’t think there’s in the area. Maybe there is, but there’s not too many areas in life where you don’t want to stay focused.
Speaker 1 (44:49):
There’s not too many years in. I’ve let you should be like, you should like chase run around like a chicken with your head cut off. I can’t think of that. Right. You know, like it, you know, in our lives, I always break up my life into three areas. So I think all of our lives could be broken up into three areas, health, wealth, and happiness, health, wealth, and happiness. Right? Those are the three lines. And in any of those lanes, if you’re chasing around, Hmm, [inaudible] crazy chicken head cut off it. Ain’t going to work the way you level up in all those areas. As he gets zeroed in, you get focused then mean you’re always taking the right path. It’s okay. Okay. Get focused. And one of the best to get focused is when you learn from somebody that’s actually going ahead of you and said, look, when it comes to marketing time, money, resources, budgets, infrastructure.
Speaker 3 (45:42):
There’s no need
Speaker 1 (45:43):
To go after everything. There has never been a need for me in Atlanta to go after 8 million households. Even if I had the budget to do it, because if I could immediately eliminate an, a amount of them, why in the world would I not? Right? There is no logic to not doing it this way. Again. You may say I have the money. I have the resources. I have the budgets. I have the people and the manpower to go after at all. I’m still saying why, even if you have them, all that focus where the 75% is not where to 25%, it’s just simple, common sense. So if you have not done this, what I told you tonight, my challenge for you and my instructions for you is very simple. Do it, do it, find these pockets. My now the way, because I get really explicit when I describe these to you. So by now, most of you in your mind should be like, oh yeah, I know a couple of areas like that. Right?
Speaker 1 (46:49):
If you don’t just go drive around, just go drive around. Like literally if I knew nothing about Atlanta where I live, but I just like literally got in my car and I would spend an hour driving the neighborhoods. I find them I’d find them. Because the key question you’re asking yourself as a very simple, is it a cookie cutter area or is it not as you’re driving through there and you’re looking around like, gosh, this is kind of maybe not totally the same, but sure does look pretty much the same. Stay away. If you’re driving around, like yeah. See all kinds of people. See all kinds of, you got yourself, a pocket, got yourself, an area to work fine. Three to five of them make each one of them, a couple of miles wide in zero in your efforts into those areas. Now I could literally sit here another hour and explain to you the value of zeroing in your efforts. When I got started in this business and actually starting a mobile home business, which is, I guess, a near cousin of real estate, we built our whole mobile home business out of two mobile home parks. That’s unheard of.
Speaker 3 (48:06):
That’s unheard of.
Speaker 1 (48:07):
And by the way, I didn’t do it from the strategy of like, you know, 25, 70 5% cookie cutter, non cookie cutter, you know, any of that. But I understood that if a couple hundred people who own mobile homes know who I am, there’ll be enough activity out of those couple hundred people. And the people that they know who are mobile homes to make a lot of money. And we did, we got our business. So we were flipping almost a hundred mobile homes a month, all a lot of a couple parks with no inventory, no lots, nothing like that. So the power of concentrating your efforts in specific areas is huge. It goes even beyond what I just said, that’s where almost all the deals are and all this is just the power of people. Knowing who you are is incredibly big, incredibly big, because then you get into the referral side to get into sides that, you know, start really magnifying.
Speaker 1 (49:10):
Does business start putting this business on steroids for you? That’s for another night tonight, it’s all about identifying a couple pockets, a couple of miles wide, each pocket have a mixture of real estate and real estate having a mixture of real estate and a mixture of different people and start focusing your time and your efforts in those areas. And you’re going to see, you’re going to start creating and implementing another shortcut to success when it comes to real estate investing. So that’s all I have for you tonight, guys, it’s a shortcut and that’s a partner driven is all about. So if you are here tonight, if you are here tonight and you are a partner and you have not done what I just told you, you need to do it seriously. You need to do it. If you can go to our university and I’ve done a number of recordings on this, if you’re not a partner here tonight, you’re like, wow, that makes sense.
Speaker 1 (50:06):
I’d love to learn some more stuff about what you guys do in a partnership program. We have some members on standby here tonight, and they’re available at 7, 7 0 7 4 6 8 5 8 5 that’s 7, 7 0 7 4 6 8 5 8 5. So if you want to learn more about what it means to be a partner, some of guys have been studying our partner model and you know, better than I do. Maybe time to actually start chasing after some dreams and goals together. Right? So some of you guys are like tonight, like I’m ready to go. Perfect. Call the same number (770) 746-8585. There’s a couple of team members on standby and they could even get you rolling as early as tonight. And as early as tomorrow, we’ll get you on board and off we go. But tonight was a shortcut. Shortcuts are worthless unless you implement them. So my challenge to you is go implement it, go chase it, go make things happen. So again, my name is Peter VXLAN and on behalf of myself, Kristen, who’s helping me drive the ship here tonight and all the other people here behind me who make all this possible. I appreciate your listening in. I truly, truly enjoyed it. Hope you guys have an amazing night and we’ll see you guys back. Same time, same place next week.
Speaker 1 (51:27):
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