In this episode, I talk with Burton Alicando who is the lead product specialist at Prop Stream.
We discuss what is lead generation and how to cross-segment data to find more qualified leads.
We will also share how to use creative marketing strategies to help closing more leads and so much more.
Whether you’re a seasoned professional or an aspiring real estate investor, this video offers invaluable insights into the world of real estate and the potential it holds for a successful career.
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Transcript:
Burton Alicando 00:00
It’s not just one thing that’s causing an increase in rate of seller financing. I think homeowners that want full price not trying to get that cash offer, they know what their houses are worth trying to get that Max offer. Some of them are willing to wait internet teaching people these new strategies that way they go from just that one trick pony to becoming a real estate professional just like your team. And when you said that your team are 5050 realtors and investors. I’m sitting over here thinking that’s what the future is going to be. I don’t think there’s going to be realtors and investors anymore. In the future I believe we’re going to see a real estate professional.
Chris Bounds 00:31
In this episode, I talked with Burton Allah Kondo, who is the lead product specialist at prop stream, we take a deep dive into lead generation, which talks about how to generate leads, how to market for leads, how to cross segment data sets and lists to drill down and find more qualified leads, how to use creative marketing strategies and sales strategies to convert more of those leads into actual deals and so much more. So, if you’re looking for leads and how to convert more, you’re gonna love this episode. I hope you enjoy now under the show. How’re you doing Burton?
Burton Alicando 01:01
I’m doing very well. How about you, Chris?
Chris Bounds 01:03
Doing great doing great. It’s good seeing you. The last time I saw you. It was a pleasant surprise. But we had talked on on on Zoom. And I think maybe phone calls on several occasions and then bumped into each other or bumped into each other at in Las Vegas of all places. At eXp con.
Burton Alicando 01:23
That wasn’t a surprise. Yeah. First time I get to meet you in person. And you’re cool on Zoom. And you are in person. I mean, let’s, let’s face that, but yeah, it was an honor to finally meet you in person. Brother Korea, thank you so much for coming up to us when we were at the eXp con and just finally connecting the dots.
Chris Bounds 01:40
Yeah, and we may touch on that too. Because it was a it was a bit of a surprise. And prop stream is pretty well known in the real estate investing space. But eXp con is a it’s a retail brokerage eXp Realty. It’s a retail brokerage. That’s their annual event they do in October. Huge. It’s amazing. Like, it’s just phenomenal. And so but I think
Burton Alicando 02:05
he just not even the best definition port because that thing was like, jam packed. Yeah, every eXp agent was there that I that I know. So Holy, moly. Holy smokes there.
Chris Bounds 02:15
Yeah. So apparently, agents are getting value out of Prop stream as well, and your immersion into that. But I’ve been saying that for years, like investors who are not licensed need to find ways to partner with agents. But it just makes more sense if the investor themselves or someone whose core on the team is licensed to so maybe we’ll touch on that here in a minute. But you know, the big elephant in the room we were talking offline about this is leads like, right now we are at a historical low on sales volume, number of transactions that are being done, whether that’s off market or on market, all market is down. And it’s not that we’re in 2008 scenario, or prices are collapsing and Everyone’s panicking.
It’s just everyone’s just kind of holding still, no one’s really doing anything unless they have to. And that’s impacting real estate agents is impacting investors. It’s impacting wholesalers, long investors, short investors, short term rentals. Basically, anyone in the real estate market? So yeah, leads is the big thing. How can you get leads, and I’ve been also telling people for years, like you gotta get creative. Like, if you rely on one single lead source, eventually, it will not work as well as it did before may not go away. Good.
But at some point, it’s probably not gonna work as well as it did before. And if you haven’t built up multiple lead channels, then you’ll you’re vulnerable. So today, how are you seeing investors? How are you seeing them find deals in this market?
Burton Alicando 04:04
That’s a really great question. Well, obviously, we specialize in providing property records both on and off market. I will be honest, most of our users are always looking for the off market properties in Prop stream. But there are technically two ways to identify these motivated sellers. The first way I called the traditional search, which is what you’re probably doing already, you’re searching your markets that you invest in and you select a list that’s provided by a software company. For us we have 19 categories that you can choose from like a tired landlord and deceased owner Pre Foreclosure MIDI.
So this is a traditional search and the reason I call it that is it mimics what an agent investor were doing before technology. It would go to the county and physically grab a list, take it back to their office and then work off that list. So you can do the same thing in production. I can search Miami right now click on the tax liens. Make sure that equity, make sure it’s off market, maybe owned by an individual that lives out of state. And then I can market to that. But it mimics what you were doing in the past was much faster. But what separates us from the past or what you were doing back then, is we don’t provide data, I have to remind people that we’re not a list provider, we’re a data provider. And although we have 19 categories that you can choose from, we also have over 120 filters that you can apply when you’re doing a search. And so over the last few years, it dawned upon me that there’s really a new way to search for motivated sellers, and I call it building situation.
You see, not everybody that wants to sell is going to be on a list. There are 1000s, if not millions of homeowners right now that wants to sell, but they’re not on any of these lists that you’re familiar with. For example, have you considered that homeowner who’s been sharing a house for 10 years with one bathroom? That’s a reason for wanting to sell why? Because their kids are growing up? Right? They’re gonna probably need that second bathroom, who wants a teenager hogging up a bathroom for a whole hour? Right? So it’s things like this, that I’m starting to see agents and investors start understanding that, hey, you know what, no one just wakes up overnight, and they’re in pre foreclosure, nothing happens for like, for example, interest rates are climbing.
So you can go in production right now. And instead of trying to look for an adjust a pre foreclosure, you can look for adjustable rate mortgages. Now, why is that? Well, because of rising interest rates, these are the homes that potentially going to have new mortgage payments, if you’re either going to pay for it, or you’re going to need to sell or risk losing your property due to a default. And so this is at least something that I’ve caught on to where if you’re not understanding how to create scenarios or situations, and you’re just fixated on just, you know, always going after list, I kid you not, you have competition that way ahead of you. And
Chris Bounds 06:58
yeah, it really comes down to, you know, the end result you want, you’re looking for an asset, and you’re looking for an asset, it’s off market, which typically means there’s unique situations that are going to put that’s going to put them in a position to where they might want to sell it at a discount. That doesn’t always mean financial. It just means unique situations. And it’s that that story that gets them to the unique situation changes. The story is different for a lot of those folks now than it was in 2010. By 2010. Most of it was financial, like financial either either personally, or financial, the home itself is underwater. Now, the equity situation, all these homes is pretty good.
And the job market is pretty strong. So it’s not financial, for most people, and even out of the 200 homes that we flipped. Most of the deals that we bought, during that time, weren’t financially motivated. I mean, the money is always important. But most of them weren’t in dire financial distress. There were other motivating factors. So building that story on how did they get here, and you just built that story with an arm? Like you can be in a pre foreclosure situation, how’d you get there? Well, you had to miss some payments, there’s delinquency.
Now, it’s a little bit challenging to get that information. But what are some likelihood? What are some ways that people would be delinquent? Or what are some warning signs that would make them delinquent? Could be past hack past your taxes? Yes. Could be areas where home insurance doubled over the last year to be an arm?
Burton Alicando 08:58
Absolutely, you know that route. And it’s almost like taking what you’re already going after, and kind of reverse engineering, you know, the process of how they got there. Like, you know, one again, just wakes up and they’re in bankruptcy, no one just wakes up and you know, they miss a payment. Things happen to get you there. Like Another great example is, you know, with inflation, that means material cost is increasing. You know, what does that mean to a homeowner that wants to remodel, right? What they were paying for five years ago is not the same price to remodel today, and might now have doubled the cost to get that roof on top of that, that new roof on.
So just understanding that situations happen, that aren’t always going to be documented on a list is very important. So keep your phone with you. You know, when you hear interest rates are climbing again, you should definitely be looking for those adjustable rate mortgages. If you’re here, hey, lumber has skyrocketed. You should be finding properties that were built 50 years ago and reaching out to the homeowners and ask them you know, do you are you going to remodel that dilapidated property or do you You want to perhaps list and go for something more modern?
It’s understanding that you’re dealing with people, not a list. And once you understand that, I think you’ll start realizing, maybe you’ll go into that new mode, we’re probably now look a lot different. It’s not there’s no 19 list to choose from. It’s, I can create anything I want to in this platform. Yeah. And
Chris Bounds 10:21
reading beyond headlines of news articles. So you’re not necessarily reacting to, you know, the headlines, or whatever’s going on in the news, but really going in with an open mind. And what does this mean? What does this mean, in this in this macro or micro sense, but also, what does it mean in the macro sense? And how does that apply to my business? But more importantly, how does it apply to my target audience? Which if you’re a real estate investor, it at least in the single family, how we’re describing it here, it means homeowners, how does this apply to homeowners? Now, there very well could become a case where FHA comes out with a 40 year mortgage.
Now, how does that apply? That’s exactly what I think, how does this affect the market? What does that mean, to me, just hypothetically speaking, what we’re not hypothetically speaking, but the first thing that pops out of my head is now, homes become more affordable, even with 7% interest rates. I mean, we’re at a 20 year high now, with mortgage rates, homes just became a lot more affordable. So what could that do? Might take up transactions might start another, you know, research, price growth may have an impact on rentals, because people have been held up in rentals, and maybe they can now go by I don’t know. Um, I mean, it can be a lot of things, but things like the that’s what you got to think about when you’re when you’re reading these articles, and how dissecting how it applies to your business.
Burton Alicando 11:55
Yep. You know, they’re under the head, as they say, cause and effect. And so there’s always something that will happen. And so keep your eye on any news in the housing market, or financially, that’s going to ripple into the housing industry.
Chris Bounds 12:09
Yeah. And then I’m gonna stand on the soapbox real quick, also, being consciously aware of not putting your predetermined thoughts and opinions into a data set. So I talk with folks that are absolutely sure. A cliff is just right around the corner, like a financial cliff, real real estate market cliff is right around the corner. But when challenged, because Because could that happen? Yeah, 100%. Sure, sure. But when challenged, the data set is very vague, but also very wrapped up into opinions on political policy regarding taxes and monetary policy and leadership in Washington and helicopter money, all of which do have effects on the economy, but doesn’t necessarily mean you know, that opinion is going to be true. So it’s just being aware and then also you take in Ray Dalio Ray Dalio as approach.
When you have an opinion, you feel like you have the data, thinking, how can I be wrong about this? Like, challenge yourself? Like, this is what I know this is what I believe. But what are ways that I could actually be wrong? And then just really red teaming it. I love it. If you haven’t read Ray Dalio has a book out principles highly recommended. It’s I found it a bit dry. But I mean, he’s the world’s most successful hedge fund manager for a reason might be worth listening to. Lead types. So you kind of illustrated list stacking, where you’re basically taking a data set.
And then you’re layering another data set, which you mentioned, you’ll have like 19 different data sets that you can start stacking, and every time you do that, you’re going to narrow down a list. Sorry, I’ve had this call for like three weeks and it comes on and on. Hopefully, it doesn’t bother is that this podcast? Is there any particular type of leads? And I know you mentioned arms, but from from a macro standpoint, are there any types of leads you’re seeing investors having more success with right now? Um,
Burton Alicando 14:36
right now, I am seeing a lot of tired landlords as one of the hottest searches right now, looking for tired landlords that are out of date. Obviously, you know, like you’ve said, you know, there’s there’s a hardship in owning property locally, you know, the further you are away from that property. You’re unloading responsibilities to property management, you’re having to rely on contractors that it’s They, and you know, just being working on a fix and flip in state, you know, some people have challenges with contractors there, that now you’re dealing with a contractor out of state.
So what I’ve seen is people just looking for tired landlord, but just some additional filters on top of that, looking for tired landlords that are currently vacant right now with an open mortgage. Why? Because hey, if no one’s there, you’re not cash flowing anymore, you’re now losing money as you’re trying to fit fill in that vacancy. So one of the hottest add on the entire landlord is making sure vacant, also has a mortgage. Another tired landlord filter I’m seeing as a tired landlord with multiple properties, we do have a numbers of property own filter in our ownership info section.
So we can look for a tired landlord, that’s, for example, at a state and has five or more properties. So that property is probably the property that they least want. And because it’s the furthest away from their portfolio, that they might be more willing to let that one go. But tired, landlords has become one of the hottest searches in the last few months, based on the data that I’m seeing.
Chris Bounds 16:12
That’s so interesting, you say that, because out of the 200 deals that we bought, tired, landlords was always our best lead source. Always, because typically, at least in my experience, the tired landlord was a reluctant landlord, meaning they either couldn’t sell their house or it just wasn’t the right market to sell it. So they moved and then just rented it. And then they, I mean, they don’t run it like a business, they just let it rent, I mean, tenants trash it out. And then at some point, it just becomes a such a massive headache, or they can’t lease it because they need so much remodeling and they don’t have the money. Now the other scenario is inherited, you inherit a rental, or you inherit a house that’s vacant, you try renting it out, and it doesn’t work out. So I love that.
And this with my, my eXp team, every, every week, we have coaching calls, and most of them are investors. They’re all licensed agents, most are investors. Some of them are kind of 5050, they do a lot of investments. They also do a lot of working with clients who are investors and also retail. And they were talking about because this particular person was calling, Fizz, fizz bows. So compass bows for listing leads, and he was having some success. He even got some wholesale deals out of it. But he brought up calling, he just started calling for rent by owner calling for rent by owner prospecting them for potential sales later on. Not not to sell right now. But just building that relationship for when they might want to sell, which maybe now could be a year from now. Could be a few months from now. So I thought that was that’s genius,
Burton Alicando 18:06
but like how he’s booked because it’s vacant now. Yeah, exactly. planting the seed now, kind of saying, hey, you know, everything is good, right now the grass is greener on your side. But you know, and people forget, you know, a landlord has to go through a lot. And they have to go through, you know, drafting leases, right? They might be doing one year leases, so they have to go through tenant, the property could be destroyed while you have a tenant, right? So now you got to, you know, you got to invest money to get that property back to the current condition.
And so again, people think it’s all fine to own a property because it might be cash flowing, but there’s a lot of responsibility, and being a landlord. And I think people forget about that. And so to me, I think that’s why tired landlords, in our system, it’s 15 years that’s not owner occupied, has become the hottest list because you’re dealing with people that have had to go through 15 years of penance. 15 years of remodeling the property when it was initially remodeled from the get go. Right. So I believe that one of the many reasons why the tired landlords have become very popular in the last few
Chris Bounds 19:08
years. Yeah, and the approach really matters too. So if you’re going after someone who’s a pre foreclosure and you actually get in contact with them, obviously this is a very short timeline, they gotta make a decision and if you’re actually engaging with them, them emotionally they’re probably pretty close to either making the decision if you can really help them out. A for rent by owner for sale by owner, an actual landlord or whatever, may not be as close to that it couldn’t be you never know. So but if you go in at least this was my experience.
This is definitely what I coach and what this particular investor agent that, you know, that approach he’s used, it’s been very, very successful is not approaching with any sales hat on at all 100% relationship building. How can I help you? Hey, this is who I am. Oh, she got this house, been working with some folks in the area? How can I help you need some comps? Would you like to know, you know what your home’s worth, and I know some other home, like, you know, if you ever were to get it sold, would you like to know what some of the other properties around you some of the upgrades that they did to get the most value, what some of the buyers in this particular neighborhood, what they really have been looking for? What are some things they actually don’t like, like this neighborhood, they hate polls, you don’t have a poll. So that’s good.
Because people just don’t like polls and things like that, um, and he’s been able to get good, because you know, that data is fairly easy to get. And they’re getting pounded with every real to help them out. But he’s been, he’s able to get through the noise, because he doesn’t have a sales hat on he has a, I’m just a local pro trying to help you out. Or I’m just a local pro, trying to see how I can help you out.
Burton Alicando 21:02
I love that going in as a problem solver and development. And that key right there, you’re filling that pipeline,
Chris Bounds 21:07
just filling that pipeline, if you do that for long enough, six months, 12 months, to three years, five years. Guarantee, if anyone did that five years, especially if they’re a real estate agent to because they have the ability to take both sides, they can be the investor, they can also be the agent and help them out. Of course, there’s proper disclosures you have to do, but um, do that for five years, like, very likely, after that amount of effort, like diligent effort for that loan, you probably won’t have to market much at all anymore. Because at that point, the leads from the agent side, the leads and referrals will be pretty overwhelming and consistent to where and then hopefully you’re doing proper branding, it’s where you made a name for yourself with those leads will come to you
Burton Alicando 21:58
know, ball effect, right, and just start getting bigger and bigger. And before you know it all your hard work turns into avalanche and you’re just taking up the whole market. So that’s pretty awesome. I love that he takes that approach. Very effective, you know, and I personally, I’m a consumer myself, I can smell the salesman. And immediately the turn off for me. I like the people that approach as friends. And I love that your staff is doing that, Chris, that’s really really impressive.
Chris Bounds 22:25
Yeah, especially, I mean, when it’s the same script. Yeah. When it’s the same script, it’s just like, Oh, God, I mean, I’m a Sales guide. Sometimes I humor them, but I’m just like it’s painful. What are your thoughts on creative financing strategies? And are you seeing a any changes and maybe an uptick or maybe a decline in those kinds of strategies to make deals work in this market?
Burton Alicando 22:56
No, I’m actually seeing more creative seller financing, I don’t know if it’s because it’s the era of credit sterile financing, or because the information is more readily available now than it ever was before. You know, I mean, if you go back into the 90s, people didn’t know about lease options, as much as there were sub twos or any of that stuff, you know, bold telling ovations. Like all these strategies were around for a long time, but it’s kind of hidden behind a vote of some sort. Or you had to be part of an echelon of fancy investors to understand the strategies, or maybe go to a very fancy seminar, it cost quite a bit to understand that stuff.
So either it’s because of, you know, the possibility of low equity right around the corner, the possibility of homeowners not wanting to let go of their property right now. And they want, you know, a higher price than a 70% to the dollar offer. Maybe you know, all these factors, but I like to believe it’s not just one thing that’s causing an increase in creative dollar financing. I think it’s, you know, homeowners that want full price, not trying to get that cash offer, they know what their houses are worth. And so they’re trying to get that Max offer. Some of them are willing to wait to get that amount. Again, it could be the social media could be internet, teaching people these new strategies.
That way, they go from just you know, that one trick pony to becoming a real estate professional, just like your team. I mean, when you said that your team are 5050 You know, realtors and investors. I’m sitting over here thinking that’s what the future is going to be. I don’t think there’s going to be realtors and investors anymore in the future, I believe. We’re going to see a real estate professional, someone who actually can solve all the problems whether Hey, we can list your house or hey, maybe you know due to the limited time that we have maybe you know a cash offers the best debt right now or you know what, since you want top dollar, but you can’t get it right now, maybe some, some creative strategy to get you what you want over a period of time I’d be the best.
And so to me, that’s what I’m seeing. I think it’s just many things coming together kind of like a perfect storm. But yes, creative dollar financing is increasing. Some markets are more stepped into it. And some markets don’t kind of voodoo or taboo, essentially, like you want to tread lightly or just make sure you’re speaking to attorneys, making sure you’re dotting your I’s and crossing your T’s properly when you’re when you’re approaching these types of a little bit more challenging of a strategy.
Chris Bounds 25:25
Yeah, I mean, there’s definitely, there’s the federal and state laws, you got to make sure you following like, like lease options in Texas, like, that’s how I got started in real estate. And then Texas, changed some laws, like very early in my arm, it was like I, within a year of me starting to invest, I’ve already done a lease option and like, boom, they didn’t outlaw it, but they threw a lot of red tape at it. Where it’s, it’s challenging. To do that properly, without exposing yourself to quite a bit of risk. But in other states, it’s seemed to be pretty, pretty open season. Same thing with owners, financing disclosures, making sure you’re following all the like Dodd Frank laws and RESPA. Or I don’t know, for us, but it really applies there. But but in any case, yeah, that’s where you’re working with the real estate attorney helps. Ultimately, it comes down to like liquidity. When liquidity is readily available or more available, especially easier to access and cheaper to access, like 3% mortgages, then creative financing becomes less desirable. I mean, why wait 1020 30 years wanting to get it all now.
Now, when credit starts to dry up or becomes harder to get or more affordable, creative financing can be attractive alternative options. And this also doesn’t necessarily have to mean the actual interest rate. It could also, like you mentioned, market, neon, primary markets are going to have more liquidity like Houston, LA, Miami, they’re gonna have a lot more capital banks, lenders willing to loan in those, but you go out to secondary, or even tertiary markets, where typically, it’s small banks, very local community banks, or its owners financing. Very common in the country, like if you’re buying, like rural property owners financing, or you’re getting some type of very specialized loan product. Yeah. These are all gonna be ways that you can actually make deals work.
Even paying full retail. Yeah, like, Would you pay full retail for a house where you’re getting no equity? I mean, for a lot of investors really? No, why would I do that? Well, what what if they gave it to you, for a 30 year interest, only mortgage with 36 months of deferred payments? I mean, does that make sense? I don’t know. It might depending on what you want to do with it, and the rent rates and all that stuff. But I’m just I mean, thinking about these things, because there’s probably some people that you’ve you bought your house in the last 18 months, depending on your market. You might be underwater, not everywhere, like some markets like Miami. They’re still chugging along very valid point.
Burton Alicando 28:37
I mean, we go back to 2021. I mean, every MLS showing had, you know, 1513 cars out front, most properties that were listed, were being bought five to 15% over asking price. Now we’re in a market where potentially values are starting to kind of correct maybe in some markets go down, what we are seeing our days on market are increasing. So that’s probably what’s keeping the price worried that something’s going to budge, or these days on markets going to keep climbing, eventually buyer, or these prices are going to start need to get adjusted to where the demand is going to be. And so that I think is a very, very, very bring a good valid point. Like just just the fact that you’re mentioning that I think these are just gonna be some things to start considering.
Chris Bounds 29:25
Yeah, and if you’re in something other than single family owners financing creative financing is very common. Self Storage, mobile, home parks, small multifamily. It’s very common, but just ultimately don’t be afraid to ask because this is the market to where getting in may seem hard, but it’s actually easier because there’s a lot of more institutional or bigger players or folks that have been in the game for a while where things aren’t working the way that it used to for them and It’s a little harder for you to adjust a big ship. But a smaller player can come in. And if they can learn these creative strategies they can get in and take DNA and get some deals done. When there’s less competition.
Burton Alicando 30:11
Yeah. Yeah, actually, here’s a great example, I’ll keep the name secret. But 2021, again, when everybody was paying a little over asking pricing, a really good friend of mine investor was looking for military homes, military personnel areas. And the reason for that is, you know, a lot of these guys traveled from state to state they because of training or you know, where they’re being relocated to. And so what you discovered is that most of them needed the house right away.
And so they were willing to pay that five to 15%, over asking price. Well, a few years have gone out, now they’re being relocated, or they’re being deployed somewhere, and they need to sell. But to your point, Chris, the equity is not there, because of the fact that they paid over asking price, right. And so we’re starting to see a lot of people do creative stuff with the military folks.
Because again, they’re they’re not trying to break even, right, while they’re out and about, they rely on professionals like you guys to fill in that void. Makes no sense had that tenant, cash flowing, and then they over a period of a year or two, when the equity is now there, you’re able to list that property on their behalf and you made and sacrificing a profit, you know,
Chris Bounds 31:26
it’s my understanding that VA loans are assumable have salutely.
Burton Alicando 31:31
So one of the filters, you can drop streams, though, if you guys want to search for VA loans, we got you covered. Yeah,
Chris Bounds 31:38
there’s really a massive opportunity right now with the government created this window of basically two years or 18 months. But if you want to go back, and even up to 4% interest rates for the last three or four years. So you’ve got between three and four, three and four and a half percent interest rates, that debt is gold. Because if you can control that debt, and in by control, I mean, we, whether you’re doing some type of creative lease option, or owners finance, subject to subject to being the big one. Yeah, a loan assumption, that gives you a ton of value, because you can do things with that property that you just cannot do with a separate percent mortgage unless you want to put 50% down payment just doesn’t work.
Burton Alicando 32:29
Yeah, you know that on the head. And those are some filters of hours, you can search by interest rate, you can search by the loan type. Chris gave you guys some really good hint. You didn’t catch on to that. But yeah, I mean, identifying those owners with low interest rates with assumable loans, control that and cash flows, cash is going to flow in everybody’s pocket, at the end of the day, the owner is going to cash flow, you’re going to be able to make your profit, and you’re going to make someone happy because they’re going to be able to afford a property that they may not have before traditionally with a bank. So it all to me, it’s a win win win situation at the end of the day.
Chris Bounds 33:03
100%. Okay, so real estate agents, you know, they’re in you mentioned before, there’s this blend, it used to be investors over here. Agents over here. investors don’t like agents because they’re outdated, obsolete, doing. agents don’t like investors because they’re, they’re cheap. They’re scum. They’re trying to rob people their home at all. But and then I mean, obviously, there can be truth to both sides. On very, very small ends. I mean, there’s are there
Burton Alicando 33:35
bad out there? Absolutely. But the bad apples do not paint the brush for everybody egg, remember set.
Chris Bounds 33:41
But now there’s there’s a lot of blending. And I got my license, asked. I asked a guy who he’s done 1000s of deals. He owns a hard money company who’s done 1000s of more deals, loaning other people want money on deals. And I asked him, Hey, should I get my license and basically summed it up with, if you want to be a professional in this business, you need to get licensed, it can only help you. Like, you can’t break the law with or without a license. Like you can’t be fraud, someone really the only thing that license really compels you to do is you get a couple extra disclosures, but all that can be done and stacked in your favor, because now you’re like, Hey, I’m not someone who just took a weekend boot camp trying to type a property and steal your equity.
Actually, I have a licensed by the state have gone through a background check. And I actually have a higher standard of ethics I have to uphold and I’m using the state contracts. You might have seen these when you bought the house bah bah, bah, bah. So I lay out all these landmines for for, you know my competition to step on if they were to sharpen but in any case, we’re seeing a lot of blending now. Yeah, where it’s both and I just call it the real estate professionals and the agents and the investor. also call it an investor agent but If you’re an agent, and that’s all you know, then all you know is listing a home. Unfortunately, I there are people who do not want their home listed. But they do want it sold. Sometimes they want it sold fast, sometimes they may not care, but they do want it sold the surge, surge of Open Door offer pad the Zillow offers, regardless of how you feel about them, and whether or not those business models survive.
Well, actually, the business model survives whether those businesses survive, I don’t know. But the demand they’ve been able to soak up the market share is proof that agents are not providing that value to the marketplace. I’ve had people that I personally know someone who was actually running for elected office that had a rental property in a new home that wanted me to buy his house. And I told him up front, like, because I went to church with a guy. He’s running for elected office, he’s running for constable. So I’m like, let me list it like I can get you more money on your show, hey, look, I think it’s worth this your cash flowing, like we’ll just let the release expire, do this.
He’s like, No, I don’t want to deal with it, I don’t want to deal with it, you bought it, bought it, I made a lot of money off that house, just did not want to list it. But so agents that know how to handle that situation are better able to serve their clients. Same with investors. And not every house wants to sell off market or at a deep discount, or in the creative manner like some student all that they may not want that but they do want to sell and they might even be able to be okay selling at a slight discount. That just doesn’t work for you. Well, if you could list it, you now expose them to other buyers on investor buyers that are just willing to pay a lot more than what you are. You can help them. You can only do that if you’re both or if you have the opposite side on your core team.
Burton Alicando 37:07
You know and people forget like, you may not like the other side, the other side may not like you. But that homeowner doesn’t care what’s going on between you to the homeowner the know that agents and investors may not get along like oil and water. Right? All they care about is they’ve got a problem. And any golf. Yeah, exactly. And Ice Ice Baby. And if you’re not like thinking like Batman’s utility belt, well, you practically have everything that you can think of. I don’t, I don’t know what you’re doing. You really need to start thinking, I need to build that Arsenal strategy. I can’t be just a one trick pony, I need to understand or build my team and bring in people that understand these other strategies to help get our team to that next level. So when a homeowner says no, I’m not interested in lifting. Well, how about this option? No, not that up. How about this option? Right?
And I see that I mean, I’m, I’m physically witnessing. As I travel, you know, and I teach and I’m seeing these new students, and how people are teaching. They’re starting to teach, you know, the professional, how to approach homeowners with multiple strategies, and think about how impressive that is to a homeowner, you know, they’re not going to be looking I believe in in the next 510 years, homeowners gonna be looking for real estate professionals, not an agent and not investor. And I think homeowners are going to want to see options. Not just this is what I think you could look for this is what your cash offer is, they’re going to want to see all their options and then decide on what’s best for them. So
Chris Bounds 38:40
there’s a lot of the public that thinks realtors are obsolete. They may not like investors, but they also think realtors are obsolete. I mean, Zillow, and it’s surgence has given the average homeowner a lot of power to our access to data that they didn’t previously have right now and I know agents don’t like Zillow. And let’s be clear, Zillow really has no interest in putting Realtors interest at best. They’ve got their own agenda, it’s their business. But at the end of the day, that information is accessible and very easily accessible to the public.
But ultimately, at the end of the day, a homebuyer home seller they have a problem. They don’t care how they solve that problem to a degree, they just want to make sure it’s solved. Some may have greater desires and needs for customer service some less so. But it is going to change the dynamics on how investors and agents are the investor agent is gonna have to run their business and how they’re either going to need to have dynamic teams or just hyper focused on a very you unique skill set and strategy that’s not easily. It’s not easy to get into.
So if you focus on the broad and easy, then competition is easy to come in. But if you focus on something that’s in high demand, but it’s also very difficult to learn that skill set or get into that, then that’s a moat. It’s a moat around your business. It’s a hedge in production, and people are going to pick, specialize or be broad, but have a dynamic team. Yeah, absolutely. All right. Um, and I really don’t know what what’s going on this coffee has actually gotten better. It’s went from heaven. I think it’s because I’m training for 100 mile run.
Burton Alicando 40:53
And that’s awesome. And interesting. Is it just a run? Or is it like a triathlon we’re
Chris Bounds 40:57
doing it’s a race, David, David Goggins, put that in my head. And I’m not a distance runner. It’s like, that’s not me. But I do like, ridiculously crazy sounding challenging things. And so that’s ultimately why I did it. But I think like the, I don’t know if it’s this combination of just normal, normal allergies, plus this heat dome, and then extended, periods out, outside, sucking in air, really chapped. My whole sinus issues. So it seems to be going away. But you know, you’re sponsoring real estate, wealth con, really everything we’ve talked about here.
These are all things that the reasons why I started invested agents. And that was to educate which invested agents, it has agent in it, too, from from just someone who doesn’t know, they might think, Hey, this is for realtors. But really everything I talked to talk talk about is something that anyone can get value out of whether you’re an agent or an investor, because ultimately, I’m talking about the real estate market. And investing which anyone can do. But I’ve had a particular interest in, in agents, because most agents say they want to invest, but they never do. And they, the reasons are lack of education, or lack of money. And really, the lack of money is just education, and still an education problem. So it’s like, hey, let’s provide the education.
And we’ve done a lot of events. And, you know, we got the team that we do stuff with too, but we do a lot of live events and virtual events and whatnot, and brings us to Real Estate Wealth calm, which you’re sponsoring, and you’re sponsored the event we did last year, which was a much, much smaller version of what this is. And for three days, we’ve got like over 50 speakers, that are gonna be just dumping a massive amount of value. To a whole audience, like, who knows how many you are, are going to tune in for free. Absolutely, for free. Like, to it, I’ve priced it out, like the in person cost to go to these events are typically 300 On the very cheap end, but usually it’s 500, if it’s a three day event, 500 and up, plus airfare plus hotel, plus food, any other accommodations plus time away from home.
So that that has its own costs. Of course, in person has its value, you do get to bump shoulders and stuff. But um, to be able to do this for free, like I Oh, that’s what I want to do. When we did this last year, I wanted to make sure that we did it for free. And we did. And this one was like, hey, look on a 10 exit. But still keep it free. And that’s what we’re doing. We’re really happy that you’re a part of this part of this event too. And we’re
Burton Alicando 44:06
honored that you have accepted us. I mean, it’s a two way street. You know, we see what you’re doing. And we see how you’re teaching the communities out there again, to me, you’re teaching how to be a real estate professional. And that is a very unique thing. And we’re looking forward to the wealth and we think it’s something that everyone should be fixated on. I mean, if you guys aren’t taking advantage of this free education that Chris was offering 50 figures, guys that you came in, think about how much that would have cost, Chris? Right. There’s a lot on the back end versus bring all these great speakers and teach you guys how to be that real estate professional we’re talking about So Chris, I mean, our our team is really thankful that you’ve allowed us to sponsor so we want to thank you as much as you’re thinking that.
Chris Bounds 44:50
Yeah, 100% and I think y’all may even have some surprises for a few few lucky folks that decide to tune in and join Listen, participate so
Burton Alicando 45:01
that we do, but you’re only gonna find out guys if you if you show up. So, if you’re wondering what it is, you’re not going to figure out in the description. We’re not going to tell you at all in the next few minutes. It is. Yeah, please make sure to show up so you guys can see that that amazing reward will be giving everybody
Chris Bounds 45:17
Yeah, it’s real Real Estate Wealth con.com Real Estate Wealth con.com Just look at the list of speakers like the cool thing for me is like, it’s a lot of these folks, you know, I could talk to but it’s a good it’s a good excuse when we host these events to actually work hand in hand with someone or at least in a small degree with individual speakers. But collectively put on something great but I mean, you’re gonna see some pretty pretty big names, but even the ones that you don’t like everyone on on the stage has a lot of value in their unique in their in their topic 100% You’re gonna see some big names like the Tom will rights coach Berg, Brian Burke, brand Phillips, Trevor mock, and Geno Barbaro, so many others. I know I’ll have some out. But these are some big names like Tom wheelwright, like come on. Rich Dad advisory does Robert Kiyosaki taxes like I was reading that guy 20 years ago. And that to have him on, it’s just incredible. But there’s a lot of other folks that you don’t know their name, but I guarantee you, they’re phenomenal at what they do. And you will get value if you just sit there and listen, take notes and connect with them to like, like, reach out to these folks.
Burton Alicando 46:47
Absolutely. All right. So I’m excited. I can’t wait for it, you’re ready. I’m like, I’m like, eager. I’m like, Let’s go already. But now,
Chris Bounds 46:56
it’s been a lot. But the thing is,
Burton Alicando 47:00
you gotta be there.
Chris Bounds 47:02
Alright, let’s, um, let’s close it out with a few final questions we ask everyone. If you can give advice to your 20 year old self, what would that be?
Burton Alicando 47:14
Um, oh, that’s a really good one. If I could give advice my 20 year old self, what would it be? Be empathetic, listen to people. It’s not always about you. I was very self ego back then it was all about me and could care less about others. If I knew that others can elevate you much faster to where you want to be, then that’s what I would have done, I would have been more friendlier, I would have been more willing to share my knowledge to others and exchange of, you know, learning from them. And understand that it’s, it’s going to take more than just yourself to get to where you’re at. You know, I mean, so as they say, it takes a village to raise someone, I believe it also takes a village to get your dreams to come true. And so if if I could tell my 20 year old self, how to change it be be more of a people person, be friendlier, you know, be willing to listen, and listen and learn at the same time. So that’s the advice I would have given myself.
Chris Bounds 48:17
I love that. I usually don’t add two cents here, but I gotta add, that was me. Like, I felt like I was always friendly. But I definitely walked around like I was. I feel like hopefully people didn’t really get this. But I feel like I probably walked around like it was better than some people just because I had entrepreneurial mindset before. It was cool. Yeah. And like, I was gonna go do this big thing. Everyone else is gonna be like, you know, you’re just gonna go get a job and being, you know, work for the man. None will be the man or, like, yeah, empathy would have helped me stop.
Burton Alicando 48:52
Yeah, I was guilty of it. I mean, I was that guy. I’m sure there are people that I was rude to people. I said things too, that I would love to take back now. But again, you know, it is what it is. All I can do is, you know, go forward and go forward. From all the experiences that I’ve learned. I’m not a perfect person. I don’t think anybody is but I think if we understand that, we can help each other. We just have to be willing to be a little empathetic. I think everyone can go a long way. And I think our community could be much better than what it is today.
Chris Bounds 49:24
What book or books have greatly influenced your life.
Burton Alicando 49:27
Oh, relentless Tom. Timbo Michael Jordan’s coach. Really good book right right there another book I would how to win an influence friends. Dale Carnegie great really good book there. And then obviously the one that very cliche everyone’s gonna mention it Rich Dad, Poor Dad. I hate to say it but it really kind of changed my mind on understanding how to follow your dream essentially under Standing, you know how to make that passive income, understanding multiple streams of income, and how that could get you to where you need to go. I didn’t know that. I always thought, you know, just having a secure job was going to be great. And don’t get me wrong, it’s great. And there are some people that that’s okay with that. There’s nothing wrong with that. But if you like a challenge, if you if you like to better yourself, you know, one of the hardest thing is, what is your second? Income? Right. And I think that’s the hardest part going from having one income to what can I do to create that secondary income. And again, it could be opening a bakery store, it could be arts and crafts, it could be just doing artwork. I think once once people understand that and start diving into that realm of creating that second flow of income, I think it opens the mind to letting them know, there’s still a lot more that can be done. And so that book really changed my mindset, that money is out there. You just got to know how to open the doors to allow to allow Yeah, yeah,
Chris Bounds 51:03
it’s just a book that I mean, some people think it’s a real estate book, but it’s really not it talks about it, but it’s just a book of how money works, exactly how money works. Through your
Burton Alicando 51:14
I love it. I don’t even mean to say it in the bad way. Like, you know, everyone matches. It’s that damn good of a book and my personal opinion and so those are probably the top three relentless how to make an influence friends, Dale Carnegie and then Rich Dad, Poor Dad with Robert Kiyosaki.
Chris Bounds 51:31
In the last five years, what new belief behavior or habit is most improved your life?
Burton Alicando 51:37
Oh, being more aware of my my health? I think at one point, I kind of just let that go. I was in this mindset that I’m always going to be healthy. I had at one live forever, that yeah, I wouldn’t want a very fast metabolism, which finally came to a stop. And then I started seeing, you know, the changes for the negative in my personal opinion. And I feel that, you know, besides mental health, physical health plays a vital role in your life. And I think these are things that we need to pay attention to. I mean, someone said it to be in a very blunt way, you know, you can have all the money in the world. But if you’re not healthy enough to enjoy it, what’s the point of even having that money? And that, that, that’s what opened my eyes up. And so in the last five years, just taking my health back and control has been something that I’m very, very proud of.
Chris Bounds 52:31
Yeah, I think it’s a Chinese profit or something to the effect of man will sacrifice all their health to make money and then spend all their money to regain their health. And it says, it’s like,
Burton Alicando 52:49
wow, powerful statement. Yeah. I’m happy to share that with me. That is a very eye opening statement. How can people reach out to you? Oh, guys, social media, you can call customer support. If you really need to seek Me caucus with forte electrofusion Burton, I’ll do my best to get back to you. But social media would probably be the best way. Customer Support or again, I’m at many events, so just follow the prompts me you’ll see the events were attending and almost including eXp con coming up. Exactly. So make sure you guys stop by and say hi, and shake hands and let’s share some ideas and see how we can help each other get to that next stage in real life.
Chris Bounds 53:27
Love it. Love it. Well, thank you so much, Burton. Look forward to seeing you soon in Vegas. At least if not sooner, but Oh, and your
Burton Alicando 53:34
event? Let’s not forget it. I’m more excited for that was when that event comes through. Guys, please be there. We got a little special thing for everybody. Awesome.
Chris Bounds 53:43
Thank you, Tigger.
Burton Alicando 53:44
Thank you, Chris.
Chris Bounds 53:45
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