Building a business around a hobby you love takes the flame out of it. Finding a business that fuels your passions gives you the ultimate freedom.– Raul Bolufe
How to Triple Your Real Estate Lead Volume Without Any Extra Marketing w/ Raul Bolufe
Raul Bolufe is a returning guest and a long time Carrot customer. You’ve heard me talk about the importance of the agent and investor hybrid, and Raul is the perfect example of this.
Today we are going to talk about a few of my favorite things. Finding your passion, helping your customers, and how to triple your real estate lead volume without any extra work.
Read the Full Show Notes Below…
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A lot has changed since Raul was last on the Carrotcast. The market has exploded, strategies are changing, and more people have gotten into the industry.
However, none of this has slowed Raul down. In fact, he is busier than ever, always finding new ways to do business, serve his clients better, and increase his real estate lead volume.
Mixing it Up
Wholesaling is Raul’s primary business and he focuses his marketing on acquiring seller leads. That said, he also owns a real estate brokerage that handles any leads that may prefer a listing to a direct sale.
The rules are different in every state, but in Florida, Raul is able to own the brokerage without being licensed himself. He has a licensed broker on file, to whom he pays out regular distributions.
As the owner, Raul does not collect a commission, rather he collects a salary that the brokerage pays him directly. His setup is perfectly legal and actually reduces his personal liability while helping him to serve more people. As I said before, be sure to check the rules for where you live.
A Check on the Numbers
For Raul, about ⅓ of his transactions are done with a direct sale, while the other ⅔ are more interested in listing! Now imagine if Raul didn’t have his brokerage and didn’t do anything to help those other ⅔?
He’d be casting those leads away to the street. He wouldn’t be able to help them (which he loves to do) and his brokerage would miss out on its share of the commissions. While his profits are smaller on the retail side, he makes it up in volume.
The retail profits cover his marketing costs and then some, allowing him to see pure profit on his wholesale deals.
The good news is that you don’t have to own a brokerage to capitalize on these leads. Investors should look for investor-friendly agents to work with and agents should look for reputable investors to help them close difficult deals.
No longer should there be tension between investors and agents. They serve different needs and can ultimately come together to help more people by offering better solutions.
If you are an investor who isn’t licensed yourself, go take the test and get your license! If it’s really not something you want to do, find an agent to partner up with! To be blunt, if you aren’t doing this now, you are missing out on money!
Fueling Your Passions
Helping people and real estate are two of Raul’s passions. He loves finding creative solutions to help people out of difficult real estate situations. Gary V. says to take your passion and make a business out of it.
And this is great advice for some people. However, both myself and Raul have done things a bit differently. We have built businesses we love and used them instead to fuel our passions.
I love golf. I thought maybe I would be a golf blogger or do something in that industry, but it just wasn’t in the cards for me. Raul is a DJ. As he put it, if he could lock himself in a room all day and do that, he would.
However, that’s not what he uses to pay the bills. We both agree that building your business around a hobby you love may cause you to resent it. So many business people try to make a dollar off of everything, but having something that fulfills you, that allows you to be as creative as you want without the need to make a dollar, fulfills you in ways that money can’t.
For Raul, being a DJ fulfills a different aspect of his life than his real estate business does. When a business fuels your passion, you can be insanely fired up about it, and that gives you freedom.
Follow Our Guest:
- Raul on LinkedIn
- Raul on Instagram
- Raul on Facebook
- Raul on YouTube
- Capital Rise Investments
- Raul Bolufe on SoundCloud
Mentioned in This Episode:
- Raul’s previous CarrotCast, EP 121: $15M++ Revenue in 5 Years… How Raul Bolufe Has Built the Momentum to Crush Wholesaling in a Very Competitive Market
- Crush It by Gary Vaynerchuk
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