Today’s REI Classroom Lesson

Holly McKhann shares where she finds realtors that can bring her deals. While talking with realtors, she shares the benefits for them bringing her deals.

REI Classroom Summary

Holly has gotten over 100 deals, just from her realtor connections. From an open house to running errands, she explains how the opportunity to connect with a realtor who can bring you deals can come from anywhere.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Announcer: Welcome back to the flipnerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.

Holly: Hi there, this is Holly McKhann, your host today for REI Classroom. Today, I’m going to be sharing with you tips on where to find realtors to bring you real estate deals. And this can apply for flips, as well as a long-term rental hold.

Announcer: This show is sponsored by passiverental.com.

Holly: I have had great success with this and I’m excited to share some of my tips, on how I’ve done it. I’ve been very blessed from hard work, and maybe some good fortune, of finding over 100 deals through realtor connections. And I have found those from meeting realtors, being friendly and outgoing to them, and creating a win-win situation, a win-win opportunity for them. You always have to think about, as with anything in life, what is the other person desiring? What is a positive outcome for them?

So, rather than approaching and saying, “I am a realtor, and I want to find houses,” I say, “Oh, how would you like to make two commissions or more, by doing a deal with me?” And it really gets their attention. They can feel my energy and my desire for them to make money, and for us to act as a team. So, that being said, let me tell you about some of the places and ways that I have found some realtors that I’ve gotten deals through.

One place to look is to be attending a realtor board meeting. Many local areas will have what they call, “A caravan”, or “A broker preview”, or “realtor board meetings”, often once a week, and you can show up to those and introduce yourself. And even I’ve had little flyers that say, “How would you like to make two commissions. I’m a cash buyer, I close quickly, and I will relist the property with you.” So that’s been successful for me.
I have a little, just a half-sheet flier, with my photo on it so they remember who I am, and my headline across the top is, “Wouldn’t you love two commissions on every deal?” or something like that. It’s not, “I’m a cash buyer,” it’s what’s in it for them. So, when you speak their language and you say, “Commissions,” it’s like, “Ding, ding, ding,” you get their attention.

So I’ve gone to realtor board meetings. I had another great networking friend. I love to network because it’s being social and making new friends. This gentleman was a lender and I asked him who he knew were the go-getter realtors. And he nicely, kindly, took me to go meet three or four realtors in one day. I had put together little bags of cookies from a bakery and put a little ribbon on them, and brought my business card, and I think I brought some of my fliers. So he introduced me to some realtors.

One of those ladies ended up living just a few streets away from me, but I wouldn’t have met her if it hadn’t been for this man, and she brought me two of my best flips ever. They were really good deals. And if it hadn’t been for this lender friend of mine introducing me and kind of endorsing me, it’s that social proof when they show up with you, I probably wouldn’t have ever met her and been top of mind when she got those ugly, stinky, nasty, problem houses. So I was glad that she called me on those.

Other places I’ve approached realtors are the grocery store. If someone looks not too rushed of a hurry . . . At one time I saw a realtor with a car magnet on her car, getting out of the car at the grocery store and so I just was smiling and walked up and said, “Oh, hi. Are you an active realtor?” and she said, “Yes.” I’m like, “Oh, well, I’m looking for houses to buy, and I have a way that I can get you two commissions on a deal.” And then she’s like, “Okay. How does that work?” And then you just open the conversation that way. But I’m not afraid to talk to people in maybe, unlikely situations.

Another great place where they’re expecting you to reach out to them is at open houses. So you can go to an open house, and try not to necessarily try and bombard the realtor or take up their time if they’re trying to show the home to other people that are interested in buying the house. But if they’re just sitting there and they have nothing to do, which often happens for realtors, you could go in, chat them up a little, have one of those little flyers, and tell them what you’re looking for because they’re a captive audience sitting at that open house.

So those are just some of the places. And a quick recap, go to their Realtor Board, parking lots of grocery stores, or wherever you might find them out in your community, maybe a soccer game for your kids, and open houses. Those are great places to look for realtors. And, of course, the obvious one is just to go to a real estate office and ask for a realtor that might be investor-friendly or might have experience with working with investors, or just a realtor that’s hungry and sitting around with nothing to do. They have those too sometimes.

So with that, I wish you the best of luck looking for realtors to help bring you deals. And I hope you have even more success than I have. You can learn more information about me and my strategies at houseflipmasters.com, and until next time, I’ll see you next time at the REI Classroom.

Mike: passiverental.com is your source for turnkey done-for-you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.

Please note, the views and the opinions expressed by the individuals in this program do not necessarily reflect those of flipnerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.

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Holly McKhann is a full-time real estate investor and works with her husband Scott, having done over 200 fix and flips together in Southern California over the past five years. Holly began her career as a CPA, working for Ernst & Young. She also earned an MBA in finance. Scott is a registered civil engineer with a decade of experience at public home builders. Their blend of expertise and experience has attracted multiple investors, allowing them to expand their business. They used to buy homes exclusively at trustee sales, but now Holly focuses on relationships with realtors to find the flip deals that work. They own 12 rental units, mostly single family homes, all in Southern California. She raised over $3 million through trust deed investments. Holly loves working from home and enjoying her freedom as an entrepreneur. Holly has been married 23 years and has four children ages 13, 15, 18, and 21 and lives in Dana Point, CA.

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