Summary
Michael Quarles started as a Real Estate Entrepreneur when he was an adult teenager, buying an R2 lot, and building a duplex. He didn’t know what the heck he was doing; all he knew was that he wanted to. He had an “S” on his chest mentality, which helped push him through the many unknown battles of real estate. Since that day, he has been involved with hundreds and hundreds of real estate deals. In 1991 he obtained his general building contractors license, building over 70 single-family homes and multifamily units from the ground up.
Michael is a ‘marketing machine’ for finding great deals. After doing hundreds of deals on purpose and through marketing systemization, several people asked him how he did so many deals so quickly… His answer then remains the same as it is now: it was a matter of marketing, understanding negotiation, and respecting systems. Subsequently, he began helping new and seasoned investors jumpstart their marketing and their careers through a variety of family businesses that he is proud of today.
In today’s episode, Michael will share with us his decades-long experience in real estate, the techniques, and marketing strategies he employs to find good deals. Not to mention, he will also tell us what works and what doesn’t. With expertise that has been seasoned by decades of dabbling into real estate, expect nothing but value from Michael.
Topics Covered:
01:03 – His journey into the real estate world
02:56 – Where does he focus as an investor
04:21 – Why do end buyers buy from him and not from another wholesaler
06:47 – How he came about marketing whilst finding deals
07:50 – How different was doing real estate then versus now
10:54 – What other marketing strategies does he do other than direct mails which are also effective
14:23 – Why a seller allows him to buy a house at a discount even if they could sell it on a multiple listing service
17:39 – Giving us his reality of generating prospects
Key Takeaways:
“I started laying out all the things I did to find the opportunity at hand cause opportunities, hard to do or hard to find, you just have to be consistent and know what you’re doing and then keep doing it and systemize yourself so you can do it on purpose.” – Michael Quarles
“We know that 80% of our deals come from follow up. I mean we’re kidding ourselves If we think that all of our deals are going to come from the first inbound phone call. It’s not how our gangs play. It’s a follow-up. I mean I didn’t marry my wife the first time I met her. I took her out a couple more times and that’s how society is run. We have to get used to something before we buy it or sell it or sell our house to it.” – Michael Quarles
“Direct mail works well for me, but it’s not the only thing I would suggest someone do. I think we would be kidding ourselves if we put all of our eggs in one basket because the moment that basket breaks all of our egg spills.” – Michael Quarles
“The idea is you have to have an abundance. Most investors with a problem that they live through is they don’t have an abundance or they start sharpening their pencils and their deals get really skinny. Well, if they had 15 opportunities a day, take the best one of those 15 and do that deal.” – Michael Quarles
“When you get it to the point where you remove yourself from being emotional, you can get better deals done.” – Michael Quarles
“If you guys want to have an on-purpose business, you have to start somewhere. You have to start with marketing.” – Michael Quarles
Connect with Michael Quarles:
- The Michael Quarles Real Estate Show
- michaelquarles.com
Connect with Dave Dubeau:
- Property Profits Podcast
- www.davedubeau.com
- www.investorattractiondemo.com
- Facebook
- LinkedIn
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