Property Profits Real Estate Podcast
Business:Investing
If you think the only way to go for those returned mails you've sent is in the trash bin, then you should reconsider; a treasure trove of opportunities awaits beyond your expectations.
Jay and Laura Elggren are a successful couple in the field of real estate investing. With Laura's experience as an underwriter and Jay's background in loans and mortgages, they formed a remarkable partnership in the buying and selling of properties, particularly in flips and multifamilies. Together, they have developed a solid system that consistently generates a steady stream of profitable deals.
In this episode, Jay and Laura share their most brilliant strategies for consistently finding leads and motivated sellers.
What you will learn from this episode for 22 minutes:
Resources:
Topics Covered:
01:31 - Taking a look at Jay and Paula's real estate investing journey for decades now
03:13 - Joining forces with those taking the action rather than just following gurus
05:32 - What worked for them in generating motivated sellers [how consistency pays off]
07:34 - Finding gold in 'return mails' [What is skip tracing]
09:59 - A sample on how a conversation goes with hard to find sellers
13:39 - Other ways they go about when skip tracing people that worked out for them
14:22 - What investment deals they're focusing these days that's bringing in the income
17:05 - Helping other people to invest [closing not just one but a lot more deals a year]
20:49 - How to reach out to Paula and Jay
Key Takeaways:
"The biggest thing that helped us is because they were showing us exactly what they were doing so we could copy and do the same thing." - Paula Elggren
"The biggest slap on the hand was when those postcards that returned, we found out you don't throw those away. Those are your gold." - Paula Elggren
"We learned very quickly when we started out for us to do multiple deals a month, we needed more than just he and I. That's where my team comes in to accompany us and make sure that the due diligence is getting done and the numbers are being ran and the contract's being put together to make sure everybody stays on track and stays flowing." - Paula Elggren
"She [our mentor] started us out with mailers, like little yellow postcards. Very simple, very plain; more of a personal thing." - Jay Elggren
"The secret is, you've got to mix all those together. We do text blast, ringless voicemails, we do all these different strategies and we do them at once. That's how we move from closing one deal a year to closing five or six deals a month." - Jay Elggren
Connect with Jay and Laura Elggren:
Connect with Dave Dubeau:
Investing in Hamilton and Beyond with Abdellah Majd
The Everything Business in REI with Mickey & Sherry Patterson
Sustainable Growth in Affordable Housing with Alex Kirke
Moving Up and Into REI with Jason LeSage
Deep Dive List Hunting with Chris Merriman
Focusing On REI Transactional Needs with David Olds
Three Creative Ways to Invest in Mobile Home Parks with Adrian Smude
From CEO to Land Investor at 26 with Mason McDonald
Vision for your Life and REI with Derek Dombeck
Making Income Suits Legal Again with Alisha and Patrick Bobczynski
Using Business Credit and REI with John Norton
STR and Emerging MTR space with Kumi Verdier
Embracing Active Income Mindset with Dan Haberkost
Straight to Mobile Home Parks with Tim Woodbridge
Letting Go of the W2 and Going for It with Kayla Pennington
Investing Early and Out of town with Katelyn Israel
Surviving 2008 and Bouncing Back Huge with Henry Munguia
Development Prospects with Spencer Brown
BRRSTR to Become Nomadic Investors with Daniel & Donalta Hall
Rural Ontario Investing with Elverne & Sharon Martin
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