When it comes to the real estate game, Carlos Reyes knows his stuff. He shared his remarkable journey and offered a ton of advice for anyone looking to break free from the 9-to-5 grind and start building their own real estate empire. Let’s dive into his actionable insights.
Carlos began by sharing his love for the Dallas Cowboys and how his financial success has allowed him to travel and enjoy games with his daughter. More importantly, he highlighted the value of relationships in the real estate industry.
From Corporate America to Real Estate Freedom
Despite giving his all, Carlos felt trapped in his corporate job due to politics and favoritism. This frustration pushed him to seek something better. He quit his job on March 7, 2016, and began his real estate journey with bandit signs. His first wholesale deal of $5,000 was a game-changer.
Carlos emphasized the importance of transitioning while still working a 9-to-5. He adjusted his work hours and invested his free time into real estate, eventually making it his full-time gig.
Building a Real Estate Empire
Carlos didn’t hold back on marketing advice. Bandit signs were his entry point, but he quickly diversified. Here’s a breakdown of effective marketing channels he mentioned:
Direct Mail
Carlos found direct mail to be highly effective, especially in Phoenix, Arizona. He shared a success story where an initial $2,500 investment brought in $60,000 in revenue.
Pay-Per-Click (PPC)
Carlos swears by PPC as the hottest lead source in real estate. Though it might seem expensive, the return on investment is worth it. He recommends spending money on PPC to build a brand and generate quality leads.
Cold Calling and Other Free Methods
Cold calling, while labor-intensive, can be fruitful. He also suggested free methods like Craigslist, Zillow offers, and telling everyone you know about your business. These avenues can provide leads at no cost.
Lists and Targeting
Carlos broke down the types of lists that have worked for him:
- High Equity Owners with 20-30% equity
- Absentee Owners with similar equity
- Tax Defaults and Pre-Foreclosures
- Long-term Owners (20+ years)
- Senior Owners (55+)
These lists can be sourced from platforms like ListSource and REI Pro Gateway.
Skip Tracing and Phone Systems
Skip tracing is crucial for cold calling. Carlos recommended services like Need to Skip and TransUnion for accurate data. For phone systems, he leaned towards Carrot rather than free options like Google Voice.
Mindset and Investment
Carlos stressed treating marketing as an investment, not an expense. He advised against having a scarcity mindset and urged reinvesting profits back into the business to see exponential growth.
Takeaway
In conclusion, Carlos Reyes’s journey from corporate constraints to real estate freedom showcases the transformative power of dedication, strategic marketing, and relationship-building in the real estate industry. His actionable insights—ranging from effective use of bandit signs and direct mail to leveraging PPC and cold calling—offer a robust framework for aspiring real estate entrepreneurs.
By emphasizing a mindset of abundance and reinvestment, Carlos underscores that success in real estate is not just about the tactics but also about the mentality. His story is a testament to the potential for growth and financial freedom that real estate offers for those willing to put in the work and invest wisely.
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