Category: The CarrotCast Podcast

Leadership should not be transactionable, it should be transformationable.

– Alex Zerbach

Why You Might Need a #2 & How to Find One

I love having these in-studio sessions where we go behind the scenes of life here at Carrot. Alex Zerbach has been with us at Carrot since the beginning. From intern to office manager, to the director of operations, he has done it all.

Today, he’s my #2 guy, handling the day-to-day tasks, and helping turn the vision into a reality.

He thrives on the process, planning, and improving the overall function of the business. Without his consistent effort toward the greater good, we wouldn’t have been able to grow in the way we have. Find out if you are ready for a director of operations, where to find them, and the qualities you should be looking for. 

Read the Full Show Notes Below…

As the founder of a growing company, I know how important it is to have a #2, a COO, an integrator who can take the visions of an entrepreneur and make them a reality.

Luckily for me, I have Alex. From intern to office manager, and now as the director of operations, he has done it all. This journey has helped us learn how to work together, communicate, and find synergy during periods of growth.  

Why You Need a #2 Guy

While a founder is often visionary, it will take a second person to take that vision and maximize it to its full potential. Founders can get in over their heads. Meeting, processes, planning, and communications can weigh you down fast.

Entrepreneurs often take too much on, get distracted by too many ideas, and will spread themselves too thin. I’ve found many entrepreneurs get stuck in a turn and burn cycle, in which they quit what they are doing to pursue something else.

After about 3 years, if you haven’t learned how to grow and scale your business, the excitement can wear off and you could be ready to find something new.

Having the right person by your side will help you grow instead of burning out. So how do you find the person that can help?

How Do You Find Them?

While you can post an ad for this person, someone you bring in from the outside may not share in your vision and drive. You can look to someone you already know to fill this role as long as they are coachable, eager, and passionate about what they are doing.

Alex didn’t start out as the director of operations, he came here as an intern. Through coaching and a dedication to improvement, he has quickly become my go-to guy. 

The person you want backing you up will be a unique breed. They should know how to get things done, have the vision to grow, yet not desire to be the center of attention. They are the behind-the-scenes guy who facilitates, produces, and gets the job done. They should remain calm under pressure, helping you to get the results you need. 

Communication, Delegation, and Boundaries

 Over the years, Alex and I have had to master how we communicate, not just with each other, but with the team. I’ve realized that I can’t force team members to share my interests and passions, while Alex has learned to manage his stress to become more accessible to the team.

Getting here wasn’t always easy, but we have found that by calling each other out, offering constructive criticism, and suggestions to facilitate growth, we have both become better people. 

We’ve learned how to delegate, let go, and trust others, who will often do the job faster and better than we ever could.  I’ve found that if I mention an idea in a meeting that I have worked out on my own, the team isn’t as excited about it as when they are a part of the planning process.

Today, when emailing, I include people from day one who need to be in the loop so they aren’t being brought up to speed at the last minute. Being able to listen and incorporate ideas from the team has helped us to grow exponentially. 

Follow Our Guest: 

• Follow Alex on LinkedIn

Mentioned in This Episode: 

• Executive Assistant Episode With Jen
• Myers Briggs
• Enneagram Test
• Ego is the Enemy
• The 5 Dysfunctions of a Team
• Radical Candor

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!

Engage first, extract later.

– Mark Skowron

How to Create A Follow-Up Machine That Sells While You Sleep in 4 Steps with Mark Skowron

What message are you sending to your prospective leads? How are you connecting, building trust, and following up?

Mark Skowron is an investor and agent who uses carefully crafted copy to close an extra deal each and every month.

Today we will talk about sequencing, frequency of contact, and what you can say to build instant trust and rapport. Most importantly, you will learn how to turn a small investment of your time upfront, into a potential $240k per year in extra profits. 

Read the Full Show Notes Below…

Mark Skowron spoke at a recent CarrotCamp, and I was blown away by his creative use of copy. He approaches his investment business in a unique way, building relationships through genuine, carefully crafted content.

When looking at Mark’s auto-response sequence, you aren’t going to find the same generic stuff that you see from the average investor. Instead, you will see a mixture of social proof, testimonials, lifestyle, and maybe a few pictures of his pugs. 

What Mark has built requires a bit of work upfront, but now runs on its own. His automated email sequences lead to an extra deal per month, resulting in thousands of dollars in additional revenue. Here are 4 of the things Mark includes in his copy that lead to deals. 

4 “Musts” to Include for Better Copywriting

#1 – Social Proof and Testimonials

You’ve likely heard us talk about adding testimonials to your Carrot site. Whether they are written or in video form, you’ll want to try to get a positive review from every client you work with. Including these in your copy, on your website, and on social media is a great way to build trust and rapport.

Setting up profiles to help build social proof will help to establish credibility. Make sure you have somewhere you can send your clients to – Google, Porch.com, and the BBB are all great ideas. 

#2 – A Connection Piece

When creating his sequence for follow-up texts or emails, he isn’t hammering the seller with sales information, offer numbers or the same generic jargon we hear all of the time. Instead, he will use a lot of connection pieces – stories, anecdotes, and situations that his target reader will be able to relate to.

You can use pictures of your dogs, share information from your church, or talk about working out. Whatever you are into, don’t be afraid to share it! 

#3 – Teamwork and Cause

Another way to build connection and trust is by highlighting members of your team or causes you support. You can talk about a contractor you work with or a local charity you support.

Sharing these personal aspects of your life and business will help people to better get to know you and what you are all about. You will be seen as a real person as opposed to another faceless buyer who simply wants to “buy your house.” 

#4 – Fear of Loss

You can’t buy every house you see. Let your sellers know that you only have a certain amount of time/funds and need to get an answer right away. There are other houses out there, and it’s important that the seller knows that could miss out on your offer if they don’t act right away.

The sense of urgency, combined with the fear of loss, will help your seller more quickly make the decision that will be of the greatest benefit to them in the long run. 

Pattern Interruption

In addition to the 4 types of content listed above, Mark also recommends throwing some pieces in there that will disrupt usual thought patterns.

This could be an unexpected joke, a surprising fact, or a bold statement that will cause the reader to look twice. Sprinkle a few of these pieces into your automated sequence grab attention and get people thinking. 

Knowing Your Audience

When creating any piece of content, you’ll want to get yourself into the conversation that is happening in a seller’s head. Who is this buyer? Can they really close? What will they do for me? Your content should address these questions rather than going on and on about what you can do.

Figure out who you are trying to reach, and provide the answers that they are looking for. Build relationships, get to know them and be the solution your clients need.

Follow Our Guest: 

• Mark on Facebook
• Mark on Instagram

Mentioned in This Episode: 

• Books by Dan Kennedy

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!

God gives people experiences and gifts for the purpose of others, not just for themselves.

– Seth Buechley

Why Every Successful Entrepreneur Has This Type of Mentor | Behind the Scenes with Seth Buechley

This is a very special episode for me as I was able to sit down with my friend and mentor, Seth Buechley. You hear me talk a lot about the importance of the right mentor, but how does it even happen?

You don’t necessarily go out looking for a mentor, but there are ways to attract the right one when you are ready. With several multi-million companies under his belt, a consulting firm, and numerous entrepreneurial pursuits, Seth knows the importance of the mentor/mentee relationship.

Today you will learn what to look for in a mentor, how to find one, and what makes a mentor so different from a coach or guru. 

Read the Full Show Notes Below…

For this episode of the CarrotCast, we sat down in the studio with my mentor, Seth Buechley, to discuss mentorship – how to find a mentor, how to be a mentor, and what you should look for when entering into a mentorship relationship. 

What Is A Mentor?

There are several defining things that make up a mentor, differentiating them from a coach or guru. A mentor is someone you will have a personal relationship with. You will know them.

They will know you. And they will genuinely be rooting for your success. A guru is someone who is highly educated in a particular field, however, their message is to many, not personalized for you.

You may be able to learn a lot, but this is not a true mentor. A coach will know you, however, their role is usually to help you to reach a specific goal, not something long-term. A mentor is someone who will walk beside you through every up and down. 

Why Do You Need a Mentor?

I know what I know, but I don’t know what I don’t know. Read that one again. 

In life and in business, it is important to have outside insight. To have someone in your corner who truly loves you and who is rooting for your success. This is especially true if you are a first-generation entrepreneur.

As your business begins to grow, if you haven’t seen what a business should look like, then you don’t know what you don’t know. This is where a mentor becomes critical. Their unique experience can offer insight to help you see around the next corner. 

How Do You Find a Mentor?

Seth was fortunate because he had a natural mentor in his father. But if you’re not as lucky, you’ll want to do a few key things to ensure you find the right person. You don’t go out, choose a mentor, and sign a mentorship agreement. It doesn’t happen that way.

Typically, it is a natural process that happens over time. When looking for a mentor, you should always be worthy. Remember this person’s time is valuable. Do not come across as needy. Instead, be ready to take the wisdom provided, and act upon it to take the next step. 

In 2016, after losing his father and his business mentor, Phil, Seth found himself without a mentor. He met someone at a conference he liked and instead of coming off as a little strange in his approach, he hired him for a job. It wasn’t just about the job, it was about building context and a relationship. 

What Should You Look for in a Mentor?

As Seth put it, don’t just write this down, get it tattooed on your arm. When you are looking for a mentor, you will need to think of these key things. 

• Your mentor should not only have wisdom but be willing to share. There are so many talented people out there who don’t realize that part of our job as human being is taking what we have learned, and sharing it with others who are walking a similar path. 
• You need to know each other. You should know them, and they should know you. They need to know your motivations, pitfalls, and what makes you tick. 
• They should love you. Not a squishy kind of love or one that expects something in return. Rather, they should genuinely care about you and want the best possible outcomes for you. 
• You and your mentor should have a basic alignment of values. While opposites can work together well, it can be hard to dig deeper when you have disagreements about fundamental beliefs. 

The Importance of Mentoring Others

At our last CarrotCamp, when speaking to the group, Seth used a visual of a ladder. There was a person in the middle with a hand reaching up and the other reaching down. Buying into mentoring is buying into this idea that God gives people experiences and gifts for the purpose of others, not just for themselves. 

When you are looking for a mentor, you are asking them to stop, and to care about you. Why shouldn’t you do the same? Everyone has something to offer someone else. Whether it be through book learning, business, or life experience.

If you don’t believe you can mentor, it is likely that you are either too self-absorbed to relinquish the time or you are self-deprecating, not believing you have something anyone would want. Either way, if you are looking for a mentor, start by finding out who you can go out and help.

Follow Our Guest: 

• Seth’s Website
• Seth on LinkedIn
• Seth on Facebook
• Seth on Twitter

Mentioned in This Episode: 

• Cathedral Consulting
• EP 23: The Secret To True Happiness For Ambitious Entrepreneurs w/ Seth Buechley
• The Vision Driven Leader

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!

The only reason why people aren’t doing cost segreation is because they don’t know about it.

– Yonah Weiss

How to Save on Taxes with Biden’s Impending Tax Hikes for Investors & Agents

It’s a sad truth that people will spend more time trying to lower their cell phone bills than they will trying to lower their taxes.

The subject comes up and brains get foggy. The lack of information and education on things such as cost segregation and tax credits is costing investors thousands each year.

Yonah Weiss helps investors analyze and strategize to save hundreds of thousands in taxes. In some cases, he has helped his clients to pay no taxes whatsoever. Here’s the (perfectly legal) way he does it… 

Read the Full Show Notes Below…

Here on the CarrotCast, we have talked about generating leads and how to close more of them, but we haven’t talked about taxes and how to keep more of the money we are making – at least not in a while.

This episode of the CarrotCast is perfect for those who want to expand their portfolios from single-family homes, moving into multi-family or commercial properties. This is also great for any agent or investor who is looking for a path to pay absolutely nothing in taxes. Yes really.

If you are looking for a way to get out of the transactional business and think more of long-term assets, then this is the episode for you. 

What is Cost Segregation? 

Cost segregation is a tax-saving tool that is really a no-brainer once you know about it. It is an advanced form of depreciation that will break down a property, with the understanding that things depreciate at different rates. Instead of claiming depreciation on the entire property over 29.5 years for residential properties, (or 39 years for commercial properties,), you can break out the depreciation by type.

For example, appliances depreciate over a span of 5 years, while land improvements take 15. These things that appreciate more quickly can be claimed as bonus depreciation, and taken upfront in one payment. 

Who Can Benefit From Cost Segregation? 

Real estate professionals have their own unique tax status. There are certain qualifications to be considered a “real estate professional,” but once you are, there are special deductions you can take against your regular income.

Anyone who has constructed, purchased, expanded, or remodeled any kind of real estate, spending a certain percentage of their time on this each week, will typically qualify. 

What Type of Properties Work Well With Cost Segregation?

You can use cost segregation with any type of real estate investment. Every property will have a slightly different percentage you can claim. For example, once you have everything broken out, a 20-unit multi-family property will look different than a single-family home. 

When Do You Set Up Cost Segregation?

While some people will have their strategy in place before buying a property, you can go back at any time to change the way you calculate depreciation. All you need is a simple form that will change the way you do your accounting.

You will be able to catch up on depreciation, without having to amend your prior tax returns. Some people will wait to ensure they are generating a cash flow before taking these large depreciation deductions. 

How Much Will It Cost?

Yonah and his team will do a free evaluation to see if cost segregation makes sense for your situation. You can expect to pay a few thousand for the service, but it is well worth it when you are saving hundreds of thousands of dollars over time.

Here at Carrot, we recently paid $20k for a firm to help us with innovation tax credits. This investment will save us over 6-figures over the next couple of years. 

Here at Carrot, we encourage our members to create a business of freedom. By properly planning, you will be able to keep more of your money, likely having a greater impact than if you were to simply hand it over to Uncle Sam.

So would you rather spend a little of your time setting this up with the goal of paying no taxes? Or would you rather close several more deals each month to give money to the government?

To me, being able to buy back my time, by keeping more of my hard-earned money, is a true business of freedom.

Follow Our Guest: 

• Yonah on LinkedIn
• Yonah on Instagram

Mentioned in This Episode:

• The Weiss Advice Podcast

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!

We are in the people business. Real estate is simply a byproduct of what we do.

– Beau Hollis

Closing 20 Deals a Month Using 1 Simple Conversation Recipe w/ Beau Hollis & Adam Johnson

I invited Beau and Adam to join us in part 4 of our negotiation series because they have one very important thing in common. They know how to sit down with anyone and turn them into a friend.

People will often think of negotiation as a battle. By bringing humanity back to the table through education and real conversations, investors can not only close more deals but also serve more people which is what this is all about.

Today we are going to wrap up the tactical elements of this series by showing you how to break down seller walls to both help and close more of the leads you are already bringing in. 

Read the Full Show Notes Below…

Recently, the CarrotCast has presented our listeners with a series on SEO, one on Facebook, and now we are addressing negotiation and sales strategy. When involved in negotiations, there are scripts and tactics that people swear by.

There are proven formulas that are taught by some of the most respected sales gurus – and all of them work, but there are other skills you will want to develop that can’t be learned in the classroom.

Talk to people, having real conversations, and getting sellers to genuinely like you are all skills you are either born with or will need to develop in the field to become a top negotiator. 

So how do you increase the chances of working with them? What can you do to serve them better?

Education and Authority

As investors and agents, we eat, sleep, and breathe this stuff. But when talking with a home seller, you may find that they have never sold a house before.

Instead of trying to acquire their house for pennies on the dollar, educate them about their different selling options. If selling to you isn’t in their best interest, let them know.

You’ll be surprised by how many people choose to work with you because you are honest. People only work with people who they like and trust.  

Building authority and trust can be done both through conversation and in how you are presenting yourself online. Your Carrot sit can serve as an authority hub where you share stories, testimonials, videos, and market information. 

Removing Assumptions and Judgements

It’s easy to walk up to a house, see some beer cans on the front porch, and assume to know exactly why someone may be losing their house. But in most situations, the problem goes much deeper than what we see on the surface.

When someone is about to lose their house to foreclosure, they are our ally at the end of their rope. Utilities are turned off, cars are repossessed, and credit cards are racking up interest. 

By removing assumptions, judgments, and preconceived ideas of what is going on in a seller’s life, you will be able to get to the heart of the problem. Genuine empathy is often the path to a real solution.

If your bills aren’t paid and if there is no food on the table, imagine how that feels. When someone is dealt a rough life experience, it can snowball.

Remember to remain humble and that it could be you, me, or someone you love who is dealing with this difficult property or situation. 

Finding Common Ground

Once all judgment had been removed, you can truly understand their situation. Instead of walking into someone’s house and being all business, let them lead the way. Have them show you around. Crack a joke.

Make them smile and remind them that you are a person too. Let them know that you are only there to apply your unique knowledge to their unique situation. Make sure they understand you may not end up buying their house, and that is ok. 

When looking for a common ground you can use visual clues to get the ball rolling. This can open up the seller, allowing you to be privy to information you may not have learned otherwise.

Adam is looking to both laugh and cry with a seller when he sits down with them. He isn’t just trying to buy their house, but he is helping them to find the right solution. By doing so, he is also providing the seller with hope – showing them that not all people are bad.

It is through connections and common ground that you can lower the walls and remove the barriers people have built.

Ready to learn more from Adam and Beau? Get all of the resources from our negotiation series at Carrot.com/Close

Follow Our Guest: 

• Beau’s Carrot site
• Beau on Instagram
• Adam on Facebook

Mentioned in This Episode: 

• EP 221: Cold Calling Methods That WORK w/ Real Estate Guru Beau Hollis – https://carrot.com/blog/ep-157-cold-calling-methods-that-work-free-script-w-real-estate-guru-beau-hollis/
• EP 237: Simple Investor Secrets: Netting $100k/mo Using UBER and Facebook Ads w/ Adam “Big Sip” Johnson and Brent Moreno

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!

If we’re going to get paid like doctors, we need to behave like doctors.

– Steve Trang

How to Eliminate Competition by Negotiating With Sellers as a Hybrid Agent/Investor w/ Steve Trang

Steve Trang wasn’t born a salesman. He has spent hundreds of hours training, and through trial and error, has become one of the best in the business. Now Steve runs a brokerage, a flipping and wholesaling business, and spends the majority of his time doing what he loves – training the best of the best on sales and negotiation. Steve and his team are dominating one of the most competitive markets in the U.S.- and making it look easy. Today, we will learn not only how to quickly raise your lead to close ratio, but why it is so important to both listen and offer multiple options to your clients. 

Read the Full Show Notes Below…

We’ve done a few different series on the CarrotCast, but this one is one of my favorites. We know we can help you get the leads in the door, but what happens then? If you aren’t closing them, you aren’t helping them, and you aren’t seeing a profit. So how do you do a better job of managing your leads?

In part 2 of our series on negotiation, we welcomed returning guest Steve Trang. It’s a seller’s market, and he is going to show you how to close more leads, even in a competitive market. 

Anyone Can Sell

With a background in engineering, Steve wasn’t a sales guy when he got into real estate back in 2007. Through years of first-hand experience and his sheer fascination with the business, he has been able to refine his techniques and share them with others.

One of his first breakthroughs in sales came when he changed his mindset. 

The Mindset Shift

Steve is a naturally caring, sympathetic, and empathetic guy. While this has helped him to better understand his client’s needs, it wasn’t helping when he sat down at the closing table. People would often ask for an offer with time to think about it.

Of course, he understood that people needed time, but by delaying the decision, they were only wasting time. Steve was losing deals and homeowners were being swayed into situations that didn’t make sense for them.

Steve goes in looking to help the homeowner find the best solution for their problem – no matter what it is. When he knows what the best solution is for the homeowners he gets right to the point. 

Setting the Rules

Before going into any meeting or call with a homeowner, Steve will lay out some ground rules. He will let them know how the conversation will go and what they can expect. If he is making an offer, all he asks is that they are comfortable telling him “no” if the price doesn’t make sense. If they like what they hear, they agree that they will put it in writing.

If they ask for time to think about it, he reminds them that it is “against the rules.” He is very direct and candid with his clients, and he expects them to respond in the same manner. If at any point the client gets off-topic during the conversation, Steve will ask them to pause for a minute to write it all down.

When he is done jotting down his notes, he immediately asks his next question, regaining control of the situation. 

Asking the Right Questions

Steve always has the client’s best interest at heart. He asks the right questions to figure out what is most important to the homeowner. Just like a doctor, he will figure out what is truly wrong, then go in there and prescribe his solution.

He doesn’t share his offer price or what he feels is the client’s best solution until he has gotten to know them and their situation. He truly listens, and only after a long conversation will he present his best solution. 

Providing More Options

For years, we have been pushing the hybrid model. Now that inventory is low, many of our clients are seeing the benefits of serving homeowners in multiple ways.

When you can serve homeowners as both agents and investors, you open up a world of options and the ability to close more leads. Not only that, but you are better able to serve your clients because you aren’t trying to fit them all into the same box. Some homeowners need speed and convenience, while others are looking for top-dollar.

Steve normally sells his “Perfect Seller Appointment Scoring System, a comprehensive checklist to guide you on what to say, for $99. It’s free at Carrot.com/Close.

Follow Our Guest: 

• Follow Steve on LinkedIn
• Follow Steve on Instagram
• The Real Estate Disruptors on Youtube

Mentioned in This Episode: 

• EP 188: 7 Surefire Negotiation Tactics to Close Your Next Deal + How to Lead A Team w/ Wholesaler and Brokerage Owner, Steve Trang

We want to hear your thoughts on the podcast! Drop them in the comments section below or hit us up on Facebook or Instagram!