Weekly Wisdom #172 - 22 Years of wisdom in 10 Minutes?

Hey, everybody. Welcome to the Weekly Wisdom. I'm Dean Graziosi, filming again in my courtyard of my house. I'm going to teach you really quick the 25 to 1 strategy today. So many people have asked, I'm going to go over it. So many people have heard it. If you've heard it, you want to hear it again. If it's new to you. This is powerful, powerful stuff. Powerful stuff. Remember, wisdom is something really difficult for people to put a value on, right? Somebody can look at a car and know what it's worth. But a lot of people put price on wisdom. What I'm about to share with you has taken me 22 years to figure out. And then partnering with some of my top students, like Matt Larson, who I talk about all the time, will help perfect this system and create it and take it to a whole other level. And so know the value of wisdom and absorb it because you're getting some really valuable stuff right now. Remember, a $2 bill or a dollar bill and a thousand dollar bill are printed on the same paper. But it's the value of what's on them that and this is powerful. So I'm going to go through this quick and then what I'm going to do is in the next couple weeks, I'm going to do a conference call for all of you. My free calls that I do periodically. I've got a couple new really great students who are kicking butt and taking names. They're right here on the site. I've invited one of them to jump on the phone with me, but I think we're about two weeks out from doing the call. But I will go much deeper on the 25 to 1 strategy on that call. Okay? So it starts with having a good real estate agent. Now I'm going to go really quick. Now here's the thing. Most of you watching, you could find this in detail in past conferences, conference calls. You can find it in my books. If you're in the success academy, you can call in and get trained on this if you haven't already. If you're in my live events, boots on the ground, all the any part of the education system, of the Dean Graziosi system you're in, you can learn this 25 to 1. So if I go too quick, don't freak out. Okay? First of all, you got to have a good agent and a good agent to us, to me or to work the system is someone who's investor friendly, who's used to working with investors, who and is friendly to you. Not someone who is going to talk you out of what you want to do. How do you find that really quick? What we tell you to do is go online and Google real estate agencies or realtors in your area. And I want you to look for the number of the office, not a specific agent. You're going to call that agent and you are going to ask for someone in their office that's used to working with investors. So you're going to get a receptionist or an office manager on the phone and say, hey, I'm an investor in your area. You can make it really simple. Don't overthink it. I'm an investor in your area. I'm looking to buy, fix and flip and make about $20,000 a house. Who in your office would be the best agent for me to work with? That's it. Now, I know some of you might have to make 20 calls. Some of you have made up to 30 calls to find the right agent. It's worth it. Don't just settle with a friend of a friend who happens to be an agent. Don't settle with the first one you talk to that you got to talk into working with you when you get that agent on the phone. Now here's another thing. That office manager or that you know, front desk person will forward you to somebody. Don't leave a message, either talk to them or call back. Get the name and number. When you talk to that agent, simply say the same thing. Hi, I'm an investor in your area and I want to buy, fix and flip and make about 20,000 bucks on a house. What do you have for me? Now you're going to get two answers. You're going to get someone say, can't be done doesn't work here. You got to buy and hold in this market. That's not who you want to deal with. Say, thank you for your time. Go on and make another call. What you want to work with is someone say, sure, we can do that. We got a couple pockets that are doing, I'm working with investors. You can ask them if they're working with with other investors. Now, two things that so many of you get locked up on. You're like, well, what if they ask how many deals I've done in the past? If they ask it, simply say, if I told you, you wouldn't believe it. You're not lying. You're just stating a fact so you can get right to the business at hand. If they say, how are you going to pay for the houses? You know what your Answer is cash. You're going to pay with cash. You're not going to pay with gold bullion. So remember, you're going to call an office. You're going to look for the investor friendly agent and you're looking for somebody with a mindset of, of working with investors and knows that you can make money by buy, fix and flip. Now you might want to buy, fix and hold. You may want to wholesale. We're not talking about that right now. We're talking about just saying buy, fix and flip so you get the right mindset. Make sense? Okay. Now you're going to work on getting agent one. Does that cost you any money? Nope. Does it cost you time? Yup. But you're getting the fast track on how this works. Ok. Now we're going to go real quick on what you're looking for. Now I don't want to make this a half hour video so I'm going to go fast. Remember this training is everywhere. Just want you to see it again. You're going to tell your agent and I'd be on a whiteboard if I was at my office that you want starter homes. Okay? You want starter homes. What does a starter home mean? Well, if you're in San Francisco, a starter home might be 350, $400,000. If you're in the suburbs of Tulsa, Oklahoma or you're in Fort Wayne, Indiana, a starter home could be 50,000 bucks. It could be 20 to 400 grand everywhere in between. You just want starter homes, okay? They're the ones that are selling the most in your area. Okay. Secondly, you want to tell them that you only want listings that are either vacant as is or had a price reduction. Okay? Sorry, I ran out of room on reduction. So you want a starter home that's either vacant as is or had a price reduction. Now you know what that's going to do? That's going to take hundreds of listings and narrow those down. Okay, Then what I would say is let's get started doing business. Send me 35 listings that are starter homes that are either vacant as is or had a price reduction. Get those listings now. Don't let them put you on an autoresponder where they just send you every deal possible and overwhelm your inbox. That's not what you want. You want starter homes that are vacant as is or price reduction. Sift, sort and screen. They just took a whole bunch, narrowed it down. You also want to tell them to send you the listings with all the notes on it. Okay. There's Some that just show the house, others have the notes. Once you get the notes, here's your next step. You're going to look for next level of motivation. Motivation to sell. When you look in the notes, if it says perfect house, perfect school, recently rehabbed, is that motivation? No. But if you see handyman, special moved, must sell diamond in the rough, Next level, motivation to sell. So you get one of these factors and. And now the next level is something in the notes showing motivation. Those 35 will probably narrow down to 25. So you asked your agent to send you 35. You look through it, you call your agent back and you say, hey, I've done all the work. I have justification for making lower offers. On the 35 you sent me, I picked 10, 20, 25. And I want to make an offer as follows. Now here's the part. Now remember, you didn't just get a whole bunch of properties and offer 50% and piss everybody off. You're telling your agent you're making educated offers based on this sifting process. I know, I'm going fast. Rewind this. Watch the video five times. So now you're educated, you're educating the agent, they're seeing why they're cheaper. And then here's what I'm going to tell you to do. Offer 65. That's a good starting point. Offer 65 of the asking price. Meaning if it's $100,000 house that after you went through this process and sifted it, you're going to offer what, $65,000. Now just do times all the asking prices times 65 and put them out there and make an offer on your 20, 25 properties. Now here's the thing. If you put an offer on 25 houses and five people accept, is that good? No, your point six five was too high. It's 25 to 1 ratio. That means you might be able to go back with an offer at point six. Okay, remember, none of this is costing you any money to this point. None of it's hurting anybody. And all it is is drumming up business for your agent and yourself. So if your 0.65 is too high, you might go to 6. Now if you offer 65 and you get 0 people to respond, well, then maybe it's too low. You might have to go 0.7 of the asking price. Make sense? Okay, so you get the agent, you want starter homes that are vacant as is or had a price reduction. You look the next level of motivation times it, times 6.7 and make a bulk offer. Tell them the offer on those 20, 25 deals and see what happens from there. Now, I can't keep the training going forever, but that's the main look. The 30,000 foot view of the 25 to 1 strategy. And on average around the country it works 25 to 1. Some people have to do 50 to 1. Some people in some states are doing 5 to 1. But on average you're going to get 25 to 1. Sometimes you might have to do 100. And after the 100th offer, you get three in a row. I'm telling you, after time and time again, I've seen thousands and thousands of people who work this system. 25 to 1 it is. 25 to 1 works over and over. Get out there and do it. Get your education. Time to take action. No more delays. Hey, I just wanted to say thanks for another great week. Thanks for all the wonderful comments last week. I'm glad you liked that about not lying to yourself. I think that's really important. Warren Buffett just recently said it's real estate over stocks over anything else. He said he'd buy hundreds of thousands of houses if you knew how to do it. Guess what? You know how to do it. You don't have to do hundreds of thousands. Do your first one and if you've done one, do five. Oh, and one last thing. If you haven't got my book, 30 days to real Estate Cash, I haven't even released it to put in bookstores yet. I've been so busy, I haven't made a deal. I'm not even sure if I'm going to put it in bookstores. It is probably the most powerful book I've ever written. It's the shortest book, but it's the exact recipe to profit, literally in 30 days. The reviews I'm getting are insane. If you haven't got it yet, click the link below and get it. Put it in your library. It is an amazing read. All right, I'll talk to you next week.