Everyone learns from someone, and, when it comes to investing in real estate, I’ve definitely spent a lot of time and money studying “at the feet of the master” flip. I’d like to share the top tips from the top real estate investing gurus that I’ve learned the most from over the years.
- Ron LeGrand© – anyone who needs a copyright on their name is probably worth listening to! LeGrand is definitely the big name in our business. Although people invested in real estate long before Ron Legrand, I don’t think anyone taught it to the masses like Legrand did. Legrand made famous the MAO (Maximum Allowable Offer) formula that everyone has been using for years. What I retain the most from Legrand is the MAO formula and the mechanics of the rapid turnaround business. Ron Legrand’s famous quote “the less I do, the more I earn” was also my first inspiration to systematize our real estate investment business.
- Robyn Thompson – Once I learned the mechanics of the rollover, I decided that rollover rehab was where I wanted to focus. I invested in Robyn’s classes and attended her rehab and marketing for real estate investing bootcamps. Robyn is one of the top real estate investment gurus for giving tremendous value at all levels of presentation (from freebies to big-ticket bootcamp). I learned a ton from Robyn about the process of flipping rehab, but Robyn’s first takeaway was how quickly you could really flip rehabs if you just devoted more resources to them.
- David Lindahl – I met Dave through Robyn’s events, attended his bootcamps and invested in his courses. Dave teaches flipping for “chunks” of money, but no one knows markets or flats better than Dave. What has been most valuable to me from Dave is his “Managing for Maximum Profits” home course. An investor with no experience or training in property management is like a lamb to lions. I started off on the right foot and have successfully managed properties for years.
- Louis Brown – Lou Brown is the undisputed king of real estate investment forms. I’ve used Lou’s Forms for Real Estate Investing since the beginning, and have always enjoyed having an amazing library whenever I need a new document. So Lou Forms are my #1 takeaway from Lou, and I still use a lot of them today to go back and forth.
- Kris Kirschner – Kris’ Auto-Pilot(TM) real estate systems for buying and selling real estate set the standard when we grew our turnaround business. Kris is a system specialist all the way, and his real estate systems are used across the country to really automate a lot of our business. What Kris has learned the most is his approach to “self-serve” screenings. Putting a safe on the house, giving the code for people to see, and then offering a self-serve kiosk in the kitchen with brochures and apps was pure genius, and I can’t imagine we never showed properties at the time. “Returning real estate is definitely the best self-service.
- And Doran – Dan is truly the master of the sales process for real estate investing, although that barely scratches the surface of what I learned from him. Dan’s ‘Sales Mastery’ course has had a greater impact on our real estate business than any other system we have implemented. If I have to pick one big lesson learned, it’s this… “If there’s equity, GO!” Dan was the first to come up with this sales strategy, which was contrary to what EVERYONE taught about flipping (they all said look for motivation and avoid unmotivated sellers). Dan is also a master of the inside game, business building and pre-foreclosure niche.
- Richard Roup – Richard is Dan’s partner, and together they teach real estate marketing, systems and have a fantastic coaching program, which I’ve been on for years now. Richard is a formidable copywriter, and his slogan “Sell your home as is, for a fair price, on the date of your choosing” is probably the most copied real estate headline in our industry. Pressed for the main lesson, I have to say this is the importance of turnaround marketing in our business. The first time I implemented one of Richard’s messages on a long-running campaign, I was literally inundated with phone calls from people who had received my messages before, but never got back. answered.