Hey Awesomely community, Lee Arnold here about to lay out for you something that I covered in the training for the Capital Syndicate program and in a number of other programs that I’ve trained real estate investors with.
It’s a time-tested proven framework for making 6 figures within your first year as a real estate investor.
I call it: The Rule of 56.
It’s deceptively simple. AND! It’s proven: Every single time I’ve heard from someone who has successfully implemented this framework, it has resulted in a minimum of $100,000 in revenue within a 12-month period.
Lofty promise? Maybe… but attainable if you follow the steps of The Rule of 56.
Now, if you’re one of our members of the Capitol Syndicate training program, then you know this well.
For the rest of you, this may be new, and it may seem hard to believe how simple this is, but I’m going share it with you.
First, we need to set KPIs: key performance indicators.
These are the core areas of business that you believe maximize your success.
Now you’re going to make a list of the core areas your business needs to operate successfully. Once you have your list, you’re going to rank the items on the list in order of importance for your business and then decide on how best to implement each one in your business.
Like I mentioned above, if you’re going to be a successful real estate investor and you’d like to make at least $100 grand your first year, here’s all you need to do.
If you simply do the following 4 tasks every single week for the next 52 weeks, you will make $100,000 over the year in real estate guaranteed. You’re thinking, “Lee, you can’t say guaranteed!”
Well, yes, I can, because everybody who’s successfully accomplished what you’re about to learn has done it.
25 mail pieces
You’ll start with a list. I’d recommend Dealio.pro, which is our CRM system that provides leads.
You’re going to send out 25 mail pieces every week. This once-a-week exercise generates more interest and more leads than you could even imagine.
Make sure you’re pulling these lists and regularly mailing to them:
- non-owner occupied
- lis pendens
- pre- non-owner occupied
- pre-foreclosure
- notice of default
- out-of-state owners
I’m telling you, your energy and time will be rewarded.
25 phone calls
After that, you’re going to skip trace those list leads and make outbound phone calls to those interested sellers.
Here’s why: Letters are not enough.
It takes multiple touches from multiple mediums to properly close a deal. Make sure you’re following up on your mail with a well-timed phone call.
And, make sure you also schedule a personal meeting when possible. Nothing closes better than face-to-face contract.
2 networking “events”
The next piece to this 4-step process is attending at least two networking events every single week.
Now, a networking “event” can be a phone call with a real estate agent, title company, private money lender, foreclosure attorney, contractor, other RE investors, or a hard money lender in your market.
Anybody who’s in the who that can help you propel where you’re going would be considered a networking call.
Now, face-to-face meetings are ideal, but calls can work too.
Those people should be part of your power team and help keep your deal flow stacked. Always stay in contact with other movers and shakers in the market you’re working in.
Write 4 offers
Finally, out of those 25 leads, you’re going to write 4 offers every single week, and you’re going to get at least 4 deals under contract.
Everything you’ve done leads up to making the offer. Four offers a week makes sure that you are at least flipping or wholesaling one deal per month.
In every meeting with the homeowner, make sure you are moving the deal along, getting it under contract, and pushing it forward to the closing table.
Doesn’t $100k sound awesome?!
So, this is actually part-time effort. When if you want to keep your full-time job, you can still follow this method.
I’m telling you, you’ll make $100,000 if you just do this.
If you’re thinking, “But Lee, I want to make $1 million,” then for you, it’s The Rule of 560…
You’re going to send out 250 pieces of mail every week. You’re going to make 250 phone calls. You’re going to attend 20 networking events, and you’re going to write 40 offers.
The Rule of 56 brings you $100,000. You want $200,000? Times everything by 2.
Any way you slice it, this is simple.
And you can start right now, today.