Latest / Real Estate Investing with RealDealCrew / Raising Private Money for Real Estate: $1M From One Free Workshop w/ George Hanna

Transcript

Raising Private Money for Real Estate: $1M From One Free Workshop w/ George Hanna · Real Estate Investing with RealDealCrew

0:00
Most investors raise capital by pitching strangers one on one.
0:05
George Hanna raised a million dollars in his first free workshop and
0:10
up to five million after that without ever giving a sales pitch.
0:14
George helps business owners build systems and automations that run without them.
0:19
In this episode you'll learn how he uses workshops to build trust before the ask.
0:25
The seven hour rule for turning a stranger into an investor is
0:30
and why AI scales the chaos you already have.
0:33
if this helps, hit subscribe. Let's get started.
0:41
George Hanna joins me here today,
0:43
and you can find what he can help you with by heading over to Smart Income Lifestyle
0:48
dot com. That's going to be a clickable link in the show notes.
0:51
I really appreciate your time here,
0:53
George. We're going to be talking about we're kind of get going to
0:55
get a little nerdy here today,
0:57
for just a heads up. As he George does a lot of some of the similar stuff that
1:01
I do regarding building out some systems and automations and leveraging AI in
1:07
in your business. So I really appreciate your time here today,
1:10
George.
1:11
super happy to be to be in here.
1:13
Well you started your first business in two thousand eight and then
1:17
you know this this seems to be a recurring theme where y everybody has their
1:21
ups and downs and you you had your down period in twenty thirteen.
1:25
What was the business and what s what specifically went wrong on that endeavor?
1:32
Yeah, as like every single employee,
1:35
I was an employee and I was looking to start a business so I can have
1:39
my own freedom, my own boss and my own business.
1:43
So and I have like the income that I can I can rely on.
1:47
So I started a couple businesses.
1:49
Most of them, they were online applications for different reasons.
1:52
But in 2013, I started a restaurant and the restaurant,
1:56
I started it for the sake just of making money.
2:00
because on the back of my head,
2:01
was, I'm all, I was always getting the advice that you should invest
2:05
in real estate regardless of what you do.
2:07
Either if you have a job or you are running a business,
2:09
get as much as cash and start to put that in real estate investing.
2:14
So I was thinking about why not to run a business and all the extra like excess
2:19
of cash that I can get so I can start to,
2:22
to invest in the real estate investing.
2:24
But little I know that at that time that just running a business,
2:27
it's not only about the business and operations and the business systems,
2:31
but it is also about the person who runs that business.
2:35
So I discovered a little bit late that literally the person who runs the business,
2:41
they need to fix their own inner systems.
2:44
So the business becomes the reflection,
2:46
just a...
2:48
kind of a reflection of the way you do things.
2:52
Because running a business, like knowing how to run the system,
2:55
like the operations, the numbers,
2:57
it's not hard to learn. What is hard is to fix the person or the team behind
3:02
the business that is being run.
3:04
That's interesting. You you you also mentioned that your friends were talking about
3:07
real estate for years, but it it
3:10
Yes.
3:10
also I I think I saw somewhere that things didn't really click until
3:14
you hired a coaching program. Could you talk a little bit about what
3:17
was being taught there that your your friends might not have been saying?
3:22
Yeah, most of my friends, are in real estate investing.
3:27
But the problem is they were giving me the advice of just invest in real estate.
3:32
Nobody was, they were genuine about their advice,
3:35
but they were not able to explain it in a way I can understand and I can apply it.
3:39
So I didn't know what I know right now about real estate investing.
3:45
Like how we can start with one property and then refinance that and you
3:48
can add more and more. So I got so much confused inside that process,
3:53
so I stopped thinking about it because I didn't know.
3:55
I didn't have the clarity about investing in real estate.
3:59
Until like in 2022, I decided to take a coaching program about investing
4:04
in real estate and that changed like the whole concept for me.
4:09
Even though
4:11
Like all what I was looking just kind of like those golden nuggets.
4:14
Once you know them, you know everything.
4:16
They start to connect all the dots because before I was trying to learn,
4:19
like I have lots of information,
4:21
but the information were so much scattered.
4:23
that coaching program, even though it was like $13,000,
4:26
it changed the way I understand,
4:29
really say investing. And I understand like the concept of assets.
4:33
So right now I have some of my investment.
4:36
back in the day, like after 2022,
4:38
I started a real estate investing kind of like a business.
4:41
I stopped a little bit that business because I want to focus on
4:45
the current one until like it's up and running so I can go back to
4:49
the real estate investing. But just knowing like how real estate investing works,
4:53
started to apply that for every single business I work with.
4:57
So now when I go into a business,
4:58
we don't just deal
5:00
or work on creating a system or incorporating AI or doing that or this.
5:05
We, like I try with the business owner to incorporate or to convert every single
5:10
unit they have inside that business into a cash flowing asset.
5:13
And once you have like this kind of mindset,
5:16
you can make every single business,
5:18
including real estate, successful.
5:20
So I started to work with business owners how to create,
5:24
how to convert everything into cash flowing assets.
5:27
And from that perspective, your marketing is cash flowing assets,
5:30
sales cash flowing assets. Your menu could be for a restaurant cash flowing asset.
5:36
Like you have experience in something,
5:37
this is cash flowing asset. So we started to approach everything from that
5:41
perspective. And this is exactly not only for me,
5:44
but also for the clients I'm serving and I'm helping.
5:48
They started to approach things in different way.
5:50
And even like the results that they are getting in their business
5:53
is totally different right now.
5:55
Totally different level.
5:56
Well it it sounds like, you know,
5:57
some of these systems and solutions that you're implementing kinda came from then
6:02
your personal experience of trying to get this figured out for yourself.
6:05
Yes,
6:06
correct. And I tell people, for instance,
6:08
like when I'm writing the book,
6:09
I'm not writing the book for other people.
6:11
I'm writing the book, course, for me.
6:12
If I understand what I'm writing,
6:14
like this is exactly what I want to express.
6:17
Because at some point, I want to go back to my book and fix things that
6:20
are not being fixed from the experience I got.
6:23
So talk a little bit about like some of that low hanging fruit then that you're
6:27
implementing that you're finding.
6:29
Even this is one of those things that I think is kind of interesting
6:32
is that when I've had conversations with some some of these small businesses,
6:36
whether it's real estate or whatever,
6:39
they they believe their situation is consistently unique.
6:42
But that's let's just face fact that more times than not you're you're likely
6:48
finding the same holes over and over and over again.
6:51
Yes.
6:51
What holes are you plugging or that you s consistently what what are some
6:55
of those low hanging fruits?
6:57
Most most business owners in real estate investing or any other business they
7:01
are running their business kind of like from the Mindset or the head of
7:05
the owner or the head of the teams So if you go in any any of those businesses,
7:10
there is nothing they can replicate or if they have they have some
7:14
So like first thing they don't have system in the place that they
7:18
can that system can be replicated anywhere and that that system can
7:22
can work and drive
7:24
like exactly the same results.
7:25
So what they do from month to month and year to year,
7:28
they are running some systems,
7:29
chaotic systems here and there.
7:30
Most of those systems, they are not systems,
7:33
they are just running from the head of people,
7:35
basically the business owner. So there is no,
7:38
like, there is no proven process that anyone can follow,
7:43
especially if you are hiring a new team member.
7:46
or you are going into a new market.
7:48
Every single time, it feels kind of like this is a startup point,
7:52
like the business starting again to do those kinds of things.
7:55
So for any business to start to grow,
7:59
to grow like especially the actual leverage,
8:02
because most real estate investors,
8:04
they already have teams, but nobody is leveraging the team,
8:07
are leveraging the technology,
8:09
could be AI, could be automation,
8:11
anything else.
8:12
And the only reason that is happening because no one is taking the time
8:16
at least to document how they do things on daily basis for every single task.
8:21
And this is where everything has to start.
8:22
We need to get the information outside the head of the team and the head
8:26
of the business owner, start to systemize that,
8:28
start to standardize that. So those systems,
8:31
they should run without the human interference.
8:34
The human only monitor at that point.
8:37
So like this is the foundational problem that I see in every single business.
8:42
This is why most of the businesses,
8:44
including the real estate investors,
8:46
they are running a real estate investing like business or company,
8:49
but they are still kind of like small family or independent small business.
8:55
Like no one can grow a real business that runs like,
8:59
literally this is a functional,
9:00
profitable business.
9:02
And I see many of real estate investors,
9:04
they make some cash here and there,
9:06
but the business itself is not profitable at some point,
9:09
or it has many deficiencies in there.
9:11
So they get one project, there's no system to apply to get like more project
9:15
at scale following like the A to Z like they did with the first one.
9:20
So systemizing everything is kind of like is the foundational work.
9:25
that every single business like you need to,
9:27
they need to focus on. Because now I see lots of businesses,
9:31
are transitioning into AI. AI will only amplify what you already have.
9:35
So AI is not going to fix your problems and AI is not going to fix your systems.
9:40
If you have chaotic system, you're going to scale chaos through AI.
9:44
So people are just like chasing the shiny objects.
9:50
like AI agent, I don't know, don't know,
9:52
I need this, I need that. And there is no proven system based on what they already
9:56
accomplished. Like they already accomplished so much,
9:59
but the missing point is I need to extract that from the head of people
10:04
and put it in a replicable system that people,
10:06
can replicate and they can get exactly the same result.
10:10
Well, George, you're you're you're preaching to the choir on that.
10:13
I I've actually used the phrase to some business owners that I can either
10:18
we can either amplify the good or we can a and we can amplify the suck.
10:22
Like we can it it
10:24
Exactly.
10:24
we we've I've said the exact same thing in a different way.
10:27
So it's it's kind of interesting that you you have the same outlook on
10:32
Exactly. Like some people, get some pills and they don't want to exercise
10:36
and they want to build muscles without even going to the gym.
10:38
It's not going to happen.
10:39
You you said you gotta extract the info out of people.
10:42
This has proven to be one of the more painful processes on my side.
10:47
I I don't about you. Like people have a tendency,
10:51
and I think we can see this in in society,
10:53
they want this set it and forget it.
10:55
They don't wanna deal with it,
10:56
they just want it handed it handed to them.
10:59
Like how do you get them to see the value in taking
11:04
the time to extract that information?
11:07
Like you don't need to do anything extra.
11:10
Like you are already doing the actual work.
11:12
All what you have to do, just record what you are doing.
11:15
This is it. So if you are doing,
11:18
if you are on your computer, just record exactly what you're doing
11:22
and just explain a little bit of the process that you are doing.
11:25
So for instance, like to do a podcast like that,
11:28
you have a process. there's connection,
11:30
there's communication by email,
11:32
there's the setup, there's the recording,
11:34
et cetera.
11:35
Like it's a process that you follow every single time.
11:37
All that you need to do, like while you are working on that for one client,
11:41
just record exactly what you are doing.
11:44
That's it. And take that recording,
11:47
like usually in business we call that standard operating procedure or SOPs.
11:52
Take that recording and apply it on any of the AI tool that you have.
11:57
The AI will create the SOP like for you.
11:59
don't have even to type anything.
12:01
So the easiest way just to record why it is important because now you as a Jack,
12:06
like you are doing everything for that task,
12:08
but it's not applicable to that.
12:10
can do every single task in your business.
12:12
At some point you need to practice the task.
12:14
Once you know it is working, now you have to go on something else and
12:18
you need to delegate this task either to a human or it could be a,
12:21
a, an AI automation, but you cannot delegate something that you didn't experience
12:25
or like you didn't create in first place.
12:28
So now you can record that when you want to delegate that task to someone else,
12:35
all what they have to do is just watch that recording or follow this manual created
12:39
by AI after that recording. So they can accomplish this task at the same level
12:43
as if Jack is doing that task.
12:45
And this is the leverage that people are missing.
12:48
All what you need to do is just record.
12:51
There is a platform called Loom.
12:53
L-O-O-M, like you can record anything in there and Loom will host all the videos.
12:59
So you don't need a host, you don't need to upload that on YouTube.
13:02
You don't need to do anything.
13:03
Just record and it stays on Loom and you can give access to the people that
13:07
you want. Could be for your team,
13:09
could be for your client, could be for anybody who wants to see like that specific
13:14
video. So like everything is doable.
13:17
Technology is making things like super,
13:19
super easy.
13:20
But the question is, are we willing to invest like little bit of our time
13:25
to tap on that leverage?
13:27
Yeah. You know, and and and you can typically meet people where they're at.
13:31
Like I'm running into a lot of people that
13:32
Exactly.
13:32
use Google Workspace, so Google vids can be just as easy way to do it.
13:36
Yeah, correct. Yeah. Yeah.
13:38
You're already paying for it. So leverage some of these tools
13:40
that are available to you.
13:42
Exactly.
13:43
Th you know, ~
13:43
So just record what you do, yeah?
13:45
record what you do. You know, this is one of the things that I've been talking about
13:49
too, that when people have had bad experiences regarding leveraging
13:54
AI and hallucination, it's usually because there's missing context there.
13:59
What you're doing here is solving a lot of that.
14:02
The more context and more details that we can give it,
14:04
the less likely it's going to hallucinate like like some things,
14:08
Good night.
14:09
you know.
14:09
So so you get them on board to c start creating some of this the these these systems
14:15
or processes or SOPs for a lack of a better way.
14:18
Where do what what's the next stop?
14:20
Where do you go from there?
14:21
So from there, now, once you extract all those systems and you start
14:26
to standardize that, it's going to take,
14:28
it's kind of like a journey. So you don't have to do everything in one
14:32
day or one week. So what I would do usually with business owners,
14:35
they allocate one hour or two hours per week.
14:38
Could be Friday morning, like a morning that is not busy.
14:41
And they allocate that to record,
14:43
to do those SOPs.
14:44
They do it, their team, do it,
14:46
they upgrade those SOPs every single month or they review it every single
14:50
six months or one year. So that is the foundational work.
14:53
And based on that, now when you start to kind of like free up your mind
14:58
a little bit, you start to like,
15:00
you have more margin to work on the higher end decision making.
15:05
So we start to work on the.
15:07
the leadership and the decision making behind the business itself because
15:10
now the business is being kind of standardized and we start to take kind
15:14
of like reverse engineered like the process so you have the business
15:18
you have the decision you have the leader so the leader will make
15:21
the decision for the business so start to standardize things in the business
15:25
we like if they have deficiencies if they need more more sales more marketing
15:29
we work on that we fix that
15:31
At the same time, we are working also on the people who are making
15:34
the decision to run those tasks.
15:35
Because you cannot fix a business without fixing the person who is running that task
15:40
inside that business, especially the business owner.
15:42
So we worked so much on that. And this is what I call the internal operating system.
15:48
So if you have deficiencies in your internal operating system,
15:51
the outside operating system is not going to work.
15:54
So you can give like a beautiful private jet to someone who cannot know how
15:59
to fly a jet, they will crash it.
16:01
They can destroy the whole beauty of that jet.
16:03
And this is exactly what happens in businesses.
16:06
Most businesses, the problem is not in the business,
16:08
the problem is in the decision and the leaders or the people who
16:12
are running like those businesses.
16:14
Just to remind everybody, we're talking about talking to George Hannah here.
16:17
You can learn more at smartincome lifestyle.com.
16:20
That's going to be a clickable link in the show notes.
16:23
If you found some value in what we're chatting about so far,
16:25
do us a favor. Share this with one of your friends.
16:27
If you're watching us on YouTube,
16:29
give us a like and subscribe. Let's go into this internal operating system
16:33
a little bit because this is something that I find really important.
16:38
Because, like you said, if you don't
16:41
Fix it's just gonna continue to to break.
16:44
You know, it's it's like eating the elephant one bite at a time.
16:49
You know, I found that if you
16:50
Yes.
16:50
go into a into a group, try to implement too many things at once,
16:54
things don't get adopted because it's overwhelming.
16:57
But more importantly, if people aren't on board,
17:01
especially the business owner,
17:03
they we need like a pretty significant buy-in and them to see
17:07
Correct.
17:08
not only the value
17:09
But the reason why we're doing certain things.
17:12
That's when you
17:13
Correct.
17:13
kinda start to see this cultural change.
17:17
Like are you seeing that type of thing as well?
17:18
Could I?
17:19
Yeah, like basically always business owners,
17:22
including real estate investors,
17:23
like always they have good intention.
17:25
Like you set your goals, you set like what you want to accomplish in your business.
17:29
You set like all of those and no one set bad things or bad intentions
17:34
or bad goals or like something they don't want to accomplish.
17:38
But like between the starting point and that goal,
17:41
there is a huge gap.
17:42
And this is what I call execution drift.
17:44
People start to drift here and there and they still see the goal,
17:48
but they are going in totally different roads that will never lead to that goal.
17:53
So that drifting, this is what it leads to having so much problems inside your
17:58
business. So that drifting or those kinds of problems that you can see today,
18:02
they are not just happening today.
18:04
Those they started in the formation.
18:06
weeks before, months before, years before.
18:08
And this is the accumulation of bad decision making or bad execution that leads
18:13
to those kinds of problems that you can see today in any business.
18:18
So this is why, yes, we have the goal,
18:20
we have the good intention, we know how to start,
18:22
we know where we're going to finish,
18:24
but in between, this is the execution.
18:26
This is why always you can see all the successful people,
18:31
are always talking about the execution.
18:33
more than they are talking about the actual business idea.
18:37
Like maybe every single person on planet Earth,
18:39
they can get crazy ideas and beautiful ideas,
18:41
but little, like maybe less than 1%,
18:44
they can execute on those ideas.
18:45
So the execution is the most important,
18:47
how to execute in the right way so you can get toward that goal and
18:51
you can achieve that goal faster than anyone else.
18:53
Yeah, that makes a lot of sense.
18:55
Well I let's you let's let's dive into the real estate part of this
19:00
a little bit because you even mentioned that now I gotta look at
19:06
my notes here again. The you have the investor magnet challenge with that promises
19:11
portfolio owners can raise in one day what they usually takes a year.
19:16
Can you talk about
19:17
Yes.
19:18
what physically happens on that day?
19:20
Yeah, like one after I did the coaching program in 2022,
19:24
I said, like, I'm going to run because I have my my my background
19:28
is in marketing and sales. And I had to learn marketing and sales after
19:32
the like the the business failure in 2013.
19:36
So I said, I'm going to offer that in the market and see like how
19:39
the market is going to to respond to my offer.
19:43
And my offer was like, I will look at real estate deals.
19:48
and I'm looking for real estate investors.
19:50
But a couple of things happened.
19:52
And I will explain the process,
19:54
but because this process could be beneficial for real estate investors
19:57
if they want to apply exactly the same.
19:59
So first thing, what I did before is I already created the trust with business
20:05
owners because I do my service,
20:08
I do training, I do courses.
20:10
So most business owners, already attended my courses and they already,
20:14
there is a trust between me and them.
20:16
And the courses, don't have to be paid all the time.
20:19
So what I used to do at that time is every single week I run a free workshop under
20:25
like the realm of my business.
20:27
And I teach people about marketing sales,
20:29
like everything related to how they can run a successful business.
20:32
So when I created this real estate investor magnet challenge,
20:37
the trust was already there. So my advice for every single real estate investors,
20:41
if you need to attract more qualified leads,
20:44
start to run weekly workshop on specific topics,
20:49
certain time every single week,
20:50
and let the business owners, let your target market start to attend those
20:55
at no cost. Help them just to understand what is the potential and how
20:59
you can help them. And once people,
21:01
they start to see the potential,
21:02
they start to trust you on that,
21:04
like all the defenses they may have,
21:07
like all the yards gold like will go down.
21:10
So what happened because I already built that trust and this trust doesn't take
21:14
too long. Sometimes that could be one session,
21:16
two sessions and that trust will be built.
21:19
So because I did that, I started running a weekly workshop,
21:23
how to finance or like how to invest in real estate investing deals.
21:28
And literally in the first session,
21:30
Like I rate in that session, I remember like with coupled people
21:33
are raised around like $1 million.
21:35
And in the following sessions,
21:36
I was able to raise up to five millions.
21:39
So like you cannot imagine how many people they have excess of cash.
21:43
All what they have is they don't see the potential.
21:47
They don't understand the opportunity and they don't know who to trust with that
21:50
money. Like some people, they brought me
21:55
hundreds of thousands of dollars I never imagined those people they have this kind
21:59
of cash. ~
22:02
Lo
22:05
I was gonna say could could we could we sp talk a little bit about
22:09
the angle you're pursuing here?
22:10
Because when you say workshop and some of the other things that you're talking
22:14
about, it's very value driven.
22:17
You're you're providing a solution,
22:20
you're providing information for free,
22:22
you're providing it's a lot of that
22:24
Good night.
22:25
type of thing. Where I think where some of these operators are kind
22:30
of getting things wrong, maybe is
22:32
They see a workshop as a presentation,
22:35
an opportunity to just present it's just like a sales cycle.
22:37
No. Never. No.
22:39
You s you see what I'm saying?
22:41
This is the killing mistake. If you teach
22:41
Like do you see the same thing though?
22:43
Like Yeah.
22:44
before you sell, you are killing the sale.
22:46
If you teach before you sell, you're killing
22:46
So all what I do in the workshop,
22:48
the sale.
22:50
exactly. Imagine you are going to buy a computer.
22:54
You go to Best Buy, for instance.
22:55
So when you go to Best Buy, when you go to a computer store to buy a computer,
23:01
they don't read the manual for you.
23:03
So imagine you go there and they start to read the manual.
23:05
like how I'm going to understand like what kind of computer I need to buy.
23:10
They start to diagnose, they start to ask questions,
23:12
they start to see like why you need to use it.
23:14
They start to see like what you want to accomplish,
23:16
what you want to create, how we're going to use it.
23:18
So this kind of like back and forth conversation that helps you to understand
23:23
I need this product or this computer versus the other.
23:26
And real estate investing is exactly the same.
23:28
Most people, don't understand the opponent in real estate investing.
23:32
especially business owners who have the,
23:34
they already have the cash to invest or professionals could be dentists
23:37
or lawyers or whoever like those,
23:39
those professionals. So when you do the workshop,
23:41
you are, you want to show them the opportunity without teaching like
23:45
the details and show them the opportunity and they show,
23:49
show, show them like why they need to trust you on that.
23:52
Because trust is big thing when,
23:54
when it comes to money.
23:55
So usually in the workshop, what I will do,
23:57
I say, all right, what are the main 10 ideas or 10 points
24:03
I need kind of like to talk about in this workshop?
24:08
And those ideas, usually they are related to fears,
24:11
doubts, why people, they may say no.
24:13
Like I start to address those inside the workshop while I'm teaching like
24:18
a little bit. So every single piece,
24:20
if I need to teach something, it has to be related to a fear.
24:24
or a rejection, possible rejection,
24:26
those people they may have in the future.
24:27
So just understanding how people they're going to think about the opportunity,
24:33
just understanding this kind of detail.
24:36
And right now, you don't have to guess it.
24:37
Just put it in chat.gbt. Chat.gbt will give you tons of those ideas.
24:41
So the whole thing is show them the opportunity.
24:44
knock down those kind of rejection they may have,
24:48
and they start to formulate in there.
24:55
I need people to understand something very important,
24:57
especially real estate investors,
24:58
because sometimes real estate investors,
25:00
are so much kind of super technical on the real estate investing,
25:04
and they don't understand the marketing and sales aspect of it.
25:06
We need to understand that
25:08
If you meet a stranger today, on average,
25:12
like any kind of business, on average,
25:13
you need up to seven hours interaction,
25:17
conversation with that stranger for that stranger to start to trust you.
25:20
So it could, like we call it like the seven hours.
25:23
Could be a little bit less, could be a little bit more.
25:25
It depends on the complexity of what you offer.
25:27
But the whole idea behind the seven hour rule is I need a couple interaction with
25:33
that person in order to get their trust.
25:36
So the more the investment is bigger,
25:39
the more it's complex, the longer those hours they're going to be.
25:43
So for instance,
25:44
If you want to go with your friend to visit a new restaurant that you've never
25:49
visited before, it's not going to take you seven hours to trust a restaurant.
25:53
All what you do is you go online on Google and you check couple reviews.
25:57
So what is the definition of a review?
26:00
The definition of a review is you are borrowing the trust of someone
26:05
you don't know for you to go to a restaurant or to a place that you don't know.
26:10
But you are trusting those people,
26:11
already spent a couple hours in their seven hour rule.
26:14
So you are trusting if you go and spend the same time,
26:17
you're going to have at least similar experience.
26:20
This is, this is what the testimonial and review means.
26:25
So basically like the problem that happens in every single industry,
26:30
estate investing, insurance, I see that everywhere.
26:33
People, they meet strangers.
26:34
and they slam them with the offer and they wonder like why people they don't buy.
26:40
Like you cannot walk on the
26:41
Mm-hmm.
26:42
street and ask a stranger to marry you.
26:44
It's not going to happen. Unless like,
26:46
I don't know, like could be something crazy in there.
26:50
But if you don't build the right relationship with that person,
26:53
there is no marriage. Like you cannot marry someone that they don't know you,
26:57
you don't know them. And this is actual marriage.
27:00
Like you are building that relationship.
27:03
And to build that relationship,
27:04
that kind of trust, you have to have like couple interaction.
27:07
So seven hour rule is very important.
27:10
And why seven hour rule is very important related to the workshop?
27:13
Because sometimes the workshop could be one hour or two hours.
27:16
And then maybe you write a book,
27:18
like you see all those books. How long does it take you to read a book?
27:21
Could be five hours, seven hours.
27:23
Like just one piece of that kind of knowledge that I can share in a book
27:27
or a workshop.
27:29
I'm exceeding already the seven hour rule.
27:32
So this is how quick you can build the trust.
27:35
If you do exactly or you build the right assets to build that trust.
27:40
Could be the book, could be the course,
27:41
could be the workshop, could be any medium.
27:43
Some people, they use webinar,
27:45
like use the version that you are comfortable and you know how to use.
27:48
Yeah, this is one of those things that I think a lot of people just don't realize
27:53
the the level of effort or time associated with some of this.
27:58
Like and and
27:59
Good luck.
27:59
the only way in which to build that level of trust is doing what you're suggesting,
28:04
whether it's video content, webinars,
28:06
webcasts, where you can hit multiple plea people and and tick
28:12
off another hour here and there.
28:14
you know, with in their perception it to to get there,
28:18
that's the only way you're gonna be able to scale something like this.
28:22
Exactly. Like, like, think, think about also maybe that is happening
28:27
at larger scale, like this problem.
28:30
Most really said investors, they are looking to meet people one on one.
28:34
Like, this is not scalable. Like,
28:37
instead of meeting, like, everyone of my investors one on one,
28:41
I like to scale. I like to have better scale.
28:43
So for instance, I like to sell one too many.
28:46
To sell one to many, you have to have a webinar.
28:48
You have to have a sales presentation that you can call webinar or a workshop.
28:53
Could be a podcast. Podcast is amazing,
28:56
of like introduction, introductory way of connecting with potential real estate
29:01
investors. you need some leverage in a place.
29:06
Otherwise, you are just going from one to one,
29:09
and you are just going kind of like...
29:11
linear in your business instead of tapping on the levers that you
29:16
can go exponential with your real estate investing business.
29:19
Another thing that I don't know if you've noticed this too,
29:22
but real estate people, I'm gonna just say that in general,
29:25
whether it's investors, brokers,
29:28
realtors, a little bit behind when it comes to technology adoption.
29:33
Like
29:34
way behind.
29:37
so so we are in agreement here.
29:38
Way behind, yes. Yes,
29:40
So what have you found
29:41
yes.
29:42
the best approach there to just get them bought into to trying something new?
29:47
Like most real estate agents and investors,
29:50
like when the market is busy and high,
29:55
they are making money. Like everybody sits in the comfort zone.
29:58
Like I'm making cash, I'm making money.
30:00
There is no need for me to work on my system or my skills or my knowledge
30:05
or to differentiate myself. Like the good ones are the ones who are planning
30:09
for the bad day as they are planning for the good day.
30:13
Because we know like in every single market you have you have always up and down.
30:17
Everything goes in circle. So if the real estate investing is high today,
30:21
maybe it's low tomorrow. So if you don't position yourself in the right way,
30:26
like I need to position my business and myself to attract people to come to me.
30:31
I need to pull people. I don't want to keep chasing people.
30:34
And the common mistake that for real estate agents and investors,
30:38
they keep chasing people every single day.
30:40
So you need to position yourself.
30:42
You need to differentiate what you do in order to pull the market toward
30:46
you to start to attract the qualified people toward you.
30:49
And this is how we start to build a real business.
30:52
So really say investing is not just,
30:54
it's the building. There is lots of things that goes beyond the building.
30:59
How to attract the right qualified people,
31:01
how to pull people to the right deal,
31:04
how to run that deal, how to respond.
31:07
like so many different things that goes around the building that we see
31:11
as a piece of property at some point.
31:13
Yeah, this this kind of goes back to,
31:15
you know, another thing where you you talked about when they're when they're busy
31:20
and they're making they're making the money,
31:22
it it it becomes less of a priority and then they're scrambling
31:26
Yes.
31:26
when when when it's a kind of a dry season.
31:29
Implementing these type of solutions,
31:32
technology, processes, this is what actually can kind of level things
31:37
out a little bit. Where
31:38
Good night.
31:39
you and and I don't think people have the foresight.
31:42
Sometimes that
31:43
And when it is low like when the market goes down they start to rush
31:48
and they start to run like I need to fix it like It's already been late And again,
31:52
like you are not late, but you you still need to invest some time like nothing
31:56
is going to happen overnight So if you if you didn't prepare yourself
31:59
for for the bad days like when the bad days happen You need to invest more time
32:04
and more resources to get things done.
32:06
So So yeah
32:08
Okay, well we're gonna dive into the rapid fire and start closing this episode out,
32:12
but George, I'm hoping you can give all of these real estate investors some
32:17
practical advice, something that they can maybe implement or a prompt that they
32:22
can they can try today something that they can take away from this episode that
32:28
would make a difference or move a needle in their business.
32:31
Yeah, like most real estate investors,
32:34
like you don't need more leads before you leverage the leads that you already have.
32:39
So go back to every single conversation that you have,
32:42
like on social media. Like the way I do things,
32:45
I don't let any conversation to slip by.
32:48
So when I post something on social media,
32:50
if someone comments, I open up a conversation with those people.
32:53
But what happens with most business owners and real estate investors,
32:57
they just like...
32:58
start to neglect some of those conversations.
33:00
Go back to those conversations,
33:02
leverage the conversation that you already have and see like where those people
33:06
in the scale of trust between you and them.
33:08
Ask them, ask them like what is holding them back from investing.
33:12
Literally people they start to share,
33:13
offer it to them. When you start to offer that like what they are looking for,
33:18
they start to see better opportunity and they start to make better decisions.
33:22
Most people, are not moving into taking action because they don't have
33:27
any clarity on how it's going to work.
33:29
Like remove all those defenses,
33:32
give those people the clarity,
33:34
let them see the actual opportunity.
33:36
You don't need like thousands of leads,
33:38
you don't need millions of followers.
33:40
All what you need just like few hundred qualified people and literally that will
33:46
do your job.
33:48
your real estate investing business.
33:49
If you're ready, sir, we're gonna dive into the rapid fire and close
33:53
out this episode. But before we do,
33:54
one more time, it is smartincome lifestyle dot com.
33:58
That's gonna be a clickable link in the show notes.
34:00
But if you're ready, George, we'll dive in and and close out this episode.
34:04
Let's do it.
34:05
D was there anything else we should have tried to hit on before we do?
34:08
No, I think those are the main points I wanted to share.
34:12
I cannot emphasize much just in the process of building trust between
34:19
you and a stranger or someone in the process of investing
34:24
at a certain point, the interaction that could happen between
34:29
the first meeting until they make the decision to come and do the actual decision
34:34
to invest. So think about those interactions,
34:37
think about every single conversation that could happen.
34:39
The conversation could be a text message,
34:42
could be an email, could be one-on-one,
34:43
could be the workshop, could be a book,
34:45
could be whatever it is. For people to have this kind of conversation between
34:49
you and them.
34:50
So this trust would be built and you can leverage that to grow
34:55
the real estate investing business that you already have.
34:57
Well, if you're ready, we'll dive in.
34:58
let's start with the first one.
35:00
What lie do real estate investors often tell themselves?
35:03
Like they think they can do it all themselves.
35:07
Like they are afraid to delegate.
35:10
They are afraid to let it go. Most of the time could be ego thing and most
35:14
of the time could be lack of confidence of I can let it go to dedicate
35:19
it to other people to do certain tasks.
35:21
If you could go back in time and give your younger self a piece of advice,
35:24
what would it be?
35:25
Like you are like nobody cares about about what you think and what you
35:30
do and Like everything that you hear here and there is not even related
35:34
to to you Like look at your potential work on your skills work on your mindset
35:38
Do things fast like I use I used to do things like super slow every single problem.
35:43
It used to to hold me back like years Move fast like nobody cares like
35:47
you are responsible for your own life
35:50
Like do not delegate your life to anybody else.
35:52
You are responsible for your own life.
35:54
Take responsibility for that. Go to and like tap on your full potential
35:59
and achieve like anything that comes to your mind.
36:01
As you were scaling your own business,
36:03
are you a one man band or do you do you have employees?
36:06
And if so, what was the first position?
36:07
Now I started to have...
36:10
What was the first position you hired for and would you make any changes?
36:15
The first position I hired for is a virtual assistant,
36:19
like an assistant. I started to take all the admin stuff so I can start
36:23
to free up my time to look more on closing deals and doing things.
36:27
Even though right now I have one assistant and I have like the IT guy,
36:33
two people working on the technology side.
36:35
So I started to add more team members,
36:37
but the first team member I ever added,
36:40
it was the virtual assistant.
36:41
And finally, what single tool or process have you implemented that
36:44
has had the biggest time saving impact?
36:46
always build processes and systems and try to either eliminate what
36:51
is not necessary and automate what is necessary.
36:54
So you can free up your plate so you can work on the higher decisions.
37:00
Well, it was great to meet you,
37:01
George. One last time. It
37:02
Thank you.
37:03
is smartincome lifestyle dot com.
37:05
Clickable link in the show notes.
37:07
Look out for the series of books that are coming soon.
37:10
And really appreciate your time here,
37:12
George. It was great to meet ya.
37:14
Thank you so much and thanks for having me.