‘The guy or the gal that wants to quit their job and doesn’t is quitting themselves.’
What is the secret sauce that makes a person successful? Michael Quarles says that it’s not about hoping, wanting or even needing to reach your goals. You have to REQUIRE yourself to take action every day in order to achieve. And even that’s not enough if you don’t have self-respect.
Michael is a serial entrepreneur and accomplished real estate broker and investor who purchased his first property at the tender age of 18. He has completed thousands of real estate deals, and Michael has vast experience with fix and flips, assignments, and wholesale deals. In addition, he designed a systematized business model that his team uses to purchase houses across the country through 1800Sell4Cash. Michael also developed Yellow Letters, the largest marketing company for real estate investors, as well as the Alex & Ryan Call Center, a service that turns marketing responses into deals.
Today, Michael joins me to discuss his high-level strategy for lead generation. He explains the value of cluster marketing, his strategies for converting leads over the phone, and the process of locating leads without the help of a broker. Michael walks us through his criteria for choosing a market and how he handles due diligence without the luxury of seeing a property in person. Listen in for Michael’s insight on why self-respect is the key to success and his ‘taste the caviar’ challenge for aspiring investors.
Key Takeaways
Michael’s high-level strategy for lead generation
- Sweat marketing (i.e.: new, sports, purses and shoes)
- Paid marketing (e.g.: signage, billboards and direct mail)
The value of cluster marketing
- Send six different letters, postcards
- Increased probability of call back
Michael’s techniques for converting leads on the phone
- Imbedded commands
- Positive, negative reinforcement
- Pacing
- Neural linguistics
Michael’s take on the art of negotiation
- Teach what you want them to say
- Legal, moral and ethical conduct
Michael’s best suggestions for lead sources
- First American Title (ListSource)
- Fidelity National Title
Michael’s criteria for choosing a market
- 2/3 median
- High percentage of cash investor buyers
- Stable number of single-families per zip code
- High foreclosure rate
Michael’s call center personas
- Alex—answers phone
- Ryan—negotiators
- Angel—negotiates terms
How Michael does due diligence without seeing a property
- Broker’s price opinion
- Ensure dealing with owner
- Appraisal
- Home inspection
- Request pictures
Michael’s insight on what it takes to be successful
- Want, need and hope are not enough
- Must REQUIRE yourself to achieve
- Self-respect to push through pain
Michael’s ‘taste the caviar’ challenge
- See what it feels like to experience success
The value in surrounding yourself with the right people
- Choose people where you want to be
Connect with Michael
Email [email protected]
Resources
Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
