The HyperFast Agent Podcast

Latest Episodes:

Episode #188 Hook, Story, Offer: The Importance of Copyright with Nick Tozier and William Adkison Oct 02, 2020

Show notes

In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with copyright gurus, Nick Tozier and William Adkison. Nick and William are the copywriters on Dan’s team and know just how important copyright is when it comes to communicating your message to your clients. With differing backgrounds, both Nick and William bring different writing perspectives, but they both agree that copywriting is essential to real estate marketing!

Episode Highlights:

William began his writing career when he was teaching at a university, eventually progressing into academic copywriting.
Nick has been writing copy for over 15 years, touching blogs, articles, product descriptions, and real estate.
William outlines the differences between academic writing and sales copy, mainly the engagement aspect.
As a Masters student, William taught entry-level history to undergrad students before leaving academia.
People skim and scan online, only occasionally stopping to read content from front to back.
The hook acts as a tool to draw people into the story, whether it be in an article or an Instagram post.
There needs to be a clear call-to-action (CTA) or an offer at the end.
William aims to bring in organic traffic to the team blog through longer-form content, giving a lot more story to work with.
Nick works to change little things on emails, ie. colors, fonts, headlines, to see what works the best.
Make sure to track your email numbers, how many clicks, opens, etc., to see what works well and what doesn’t.
Start with some kind of blog, on LinkedIn or your website, and answer the questions that you receive as an agent.
Focus all your attention on the hook and the offer by reusing the content that you are already making.
The fear of having their words rejected stops real estate agents from doing this consistently and making it their own.
It’s important to trust that the message you are trying to send is the right one; some people will love it and some people will reject it.
Those that disapprove of what you have to say are going to be much more vocal than the ones that agree with you.
All engagement, whether it’s positive or negative, is useful because it makes it more likely that your content will appear in searches.
There is a sense of triumph that lies in flipping a negative reviewer into a positive one.
Consistency in creating content is key to getting results and building confidence.
Repurpose your longer-form pieces into smaller articles to address your clients’ pain points and efficiently use your time.
Create a swipe file so that you can take other’s creative ideas and adapt them to your business.
Both Nick and William were able to use their past experiences to create success in the real estate copywriting industry.
Each candidate in the election is going to have their unique effect on the real estate industry.
William spends his spare time writing for his personal blog and creatively, just for fun.
When Nick isn’t writing, he enjoys playing guitar because it has such a large personal payoff.

3 Key Points:

At the end of the day, your marketing needs to engage the readers enough to get them through the story and to your offer.
It’s important to dedicate some time each day toward creating decisive content, making sure to consistently provide value to buyers.
It’s important for real estate agents to remain unique and not fear rejection when putting their content online.

Resources Mentioned:

Learn more about Hyperfast Academy
Dan Lesniak (bio, Facebook, Twitter),
Text Dan your real estate questions: (703) 215-1684
William Adkison (kerishull.com blog, Keri Shull Team YouTube, Personal Blog)
Nick Tozier (HFA Blog, Newsletters at hyperfastaget.com, hyperfastwealth.com, or kerishull.com)
The HyperLocal HyperFast Real Estate Agent (Dan’s book)

Episode #187 Expanding Available Home Inventory Through Renovations with Steven Papageorge Sep 30, 2020

Show notes

In this episode of The HyperFast Agent Podcast, host Dan Lesniak speaks with Steven Papageorge about a strategy to find more homes that meet your buyer’s criteria. In a time where inventory appears to be low, real estate agents need to be creative when looking for houses, and Steven knows just how to do that!

Episode Highlights:

Steven does the majority of his work in Northern Virginia.
Born and raised in Northern Virginia, Steven started Design Pro with his brothers 11 years ago.
Design Pro jobs range from small inspection jobs to major additions and renovations.
There has been a surge in outdoor living space projects since the pandemic started back in March.
People need more space at their houses now that everyone is home because of the virus.
A lot of markets are experiencing tighter inventories right now.
Partnering with the right contractor can expand the inventory that real estate agents have for their clients.
Contractors can provide consultations for real estate agents in regards to renovations.
The typical buyer, more often than not, is surprised by the renovations that they can do within their budget.
Time frames vary depending on job size, ranging from small updates (2-4 weeks) all the way up to whole-house renovations (4-6 months).
Drawing, design agreement, and approval all need to be factored into the timeframe.
Real estate agents need to make sure that their clients are aware of the timeframe, budget, and a plethora of other details.
Try to be as efficient as possible with your time as a new entrepreneur.
The biggest mistake that real estate agents can make is giving inaccurate information about the renovations to the client.
Steven enjoys spending his free time with his family.
In 5 years, Steven sees Design Pro going through massive growth and plans to invest in real estate himself.

3 Key Points:

People are spending more time at home because of the pandemic, so Steven has seen a surge in additions of outdoor living spaces.
By providing renovation consultations, contractors can partner with real estate agents and ultimately expand the agent’s inventory.
The more questions that an agent can ask, the more options they can provide to their clients.

Resources Mentioned:

Learn more about (Hyperfast Academy); (HyperFast Coaching)
Dan Lesniak (bio, Facebook, Twitter)
Design Pro Remodeling: Website Facebook Instagram

Episode #186 No Money Down Investing with Marco Kozlowski Sep 25, 2020

Show notes

In this HyperFast Wealth segment, host Dan Lesniak speaks with Marco Kozlowski, a successful real estate investor with over 6,000 cash-flowing rental units. Through his own hardships, Marco has developed processes that allow him to purchase these properties without using his own money. Now, he teaches others how to do the same.

Episode Highlights:

Marco began his real estate journey back in 1999 when he moved from Canada to New York City.
After the 2008 housing crisis, Marco became homeless and had to start from scratch again.
Creating effective processes around finding distressed sellers helped Marco get back on his feet.
Marcos strives to help as many people as possible, rather than to make a ton of money.
Most of Marco’s acquisitions are neglected properties that bring in a cash flow that can be managed by someone else.
Marco pays his property managers well so that he doesn’t have to deal with problems at the base level.
With over 6,000 properties in 32 areas, Marco utilizes the Freedom of Information Act to find the people that really need to sell.
Marco makes sure to quote three different management companies in order to avoid being swindled out of his money.
There are a plethora of different emails and follow-up sequences based on each person’s situation.
COVID has presented a great opportunity to pick up amazing properties at incredible prices.
Hotel deals are set up so that Marco has no risk and if it doesn’t work out, the property goes back to the owner in 2 years.
Marco buys properties before they ever hit the market and teaches people how to do it for themselves.
Buyers can use these strategies to increase their assets and their wealth for their family and themselves.
Real estate agents are able to sell properties for a commission or jump on a great investment opportunity.
Not all sellers want the same thing; some want the most money; some want speed and simplicity.
If real estate agents have a variety of tools that they can offer, their value to the sellers will go up.
Each property makes about $200/month if you are doing it right, so financial goals should be based on this.
Marco’s objective is to show students how to buy 3-5 units at a time in order to make it worth their while.
Every student of Marco’s gets to go through the entire process, find financing, and purchase 3-5 properties before the class ends.
Marco outlines how to go from purchasing a few properties at a time, to a few hundred every year.
Marco keeps his classes to under 25 people so that everything stays as smooth and simple as possible.
Many training programs leave you stranded after the class is over, but Marco makes sure you are set up to rinse and repeat.
People can get up to Marco’s level quite a bit faster than he did because they can learn from his mistakes.
Asking the best questions that you can possibly ask will allow you to serve others better.
Investors need to get past their own head trash to find success.

3 Key Points:

Marco began his journey as a concert pianist with 4 kids by the age of 24 and entered the real estate game to help provide for his family.
While he lost over $11M, Marco was able to keep the knowledge and lessons that he had learned from his failures and use all of that to find success.
Real estate agents can utilize Marco’s processes to invest in, and buy properties, or list them for a commission. They don’t have to be a one-solution agent anymore.

Resources Mentioned:

Learn more about (Hyperfast Academy); (Send your clients to Dan & Keri HERE)
Dan Lesniak (bio, Facebook, Twitter)
Marco Kozlowski: (Class, Website, Instagram)

Episode #185 Alternatives in Investing with Codie Sanchez Sep 23, 2020

Show notes

In this segment of HyperFast Wealth, host Dan Lesniak speaks with Institutional Investor Codie Sanchez. Codie is the Managing Director and Partner at Entourage Effect Capital. From inspiring journalist, to major player in the cannabis industry, to where she is today, Codie has amassed the knowledge and experience to teach entrepreneurs all about how to invest successfully without worrying about all the noise from the outside!

Episode Highlights:

Codie has always found ways to use commerce to enable others to grow and succeed.
Starting off as a human-trafficking and drug-smuggling journalist in Mexico opened Codie’s eyes to how unfair the world is.
Codie worked her way through the corporate world until she was able to enter into the cannabis industry.
In an attempt to help small businesses right now, Codie has found a way to help owners connect with potential buyers.
Staying curious about what helps fuel growth is what drives many entrepreneurs to be successful.
Many small business owners don’t even know that they can sell their businesses.
Too many people focus on people liking them instead of making sure that they are respected.
The world is filled with negative feedback loops that the pioneers of business will have to get comfortable with.
Moments that legitimized Codie’s beliefs and vision felt really good because she began to be an expert in the cannabis space.
The cannabis industry has cratered to the lowest valuations in a long time, which presents massive opportunities for investors.
Codie’s company invests in companies that do $10-20M in revenue but need more money to scale.
Platform plays and distressed deals are the two types of companies that Codie sees as opportunities for capitalization.
B2B, selling to consumers, and structured systems are the three types of businesses that Codie likes.
After a trip to Zion National Park, Codie began to invest in land in National Parks and rents them out for camping.
It’s hard to get the financing to buy land; you must have the capital to put down upfront.
Those looking to sell can stay on to get some cash revenue, but not to run the business.
Businesses that are not up for sale potentially have someone who can stay on and run the operations.
Codie outlines three different ways to run a business after investing in it.
Buying real estate has been commoditized, but buying businesses has not made it there yet.
Avoid the fear of missing out; focus on the great deals that you have been a part of.
Stepping into her own belief in herself took Codie a long time to do.
Start as early as possible when it comes to chasing your passion.
Codie’s course will give people the knowledge necessary to walk away and buy a business of their own.

3 Key Points:

The first people through the wall are always going to get a little bloody. Going out into the unknown of the business world will always be rejected by those who don’t see your vision.
At its lowest valuation in years, the cannabis industry is filled with opportunities to invest at a low price in a market that is only going to grow.
There are multiple ways to run a business after investing in it, ranging from solely investing all the way to completely running the operations.

Resources Mentioned:

Learn more about (Hyperfast Academy); (Get Dan’s book Free HERE)
Dan Lesniak (bio, Facebook, Twitter)
Codie Sanchez: (Website, Course, Newsletter, Instagram)
State Street Corporation
GoBundance

Episode #184 Automation & Delegation Tools to Save Time with Geordie Wardman Sep 21, 2020

Show notes

In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with software guru and entrepreneur, Geordie Wardman. Geordie has started 5 companies that build software to help entrepreneurs save time, and shares tips on how to utilize automation and delegation to minimize repetitive tasks.

Episode Highlights:

Geordie’s companies develop software to help entrepreneurs track their time.
Passive income has inspired Geordie in creating his companies and picking his investments.
The time-tracking program that Geordie is working on allows entrepreneurs to delegate tasks that they don’t need to be doing.
Tracking time in a spreadsheet can make your time usage so much more efficient.
There are a lot of real estate agents that struggle with efficiently using their time.
Real estate agents can use Geordie’s method without taking any time out of their day by recording on Loom.
Anyone that wants to build software around this principle can reach out to Geordie for a quote.
Software As A Service (SAAS) companies have given Geordie multiple revenue streams and diversified his portfolio.
Time efficiency allows entrepreneurs to grow their businesses faster through automation and delegation.
You need to know what tasks you do not need to be doing in order to increase productivity.
Take your annual income and break it down into monthly and hourly so you know what your time is worth.
Anything outside of your most important tasks should be delegated so you can focus on growing.
Training others to do the important tasks will fuel growth and reduce stress.
Lead gen, sales, collection, and fulfillment are the elements that make up all businesses.
Utilize Google Docs to separate your business into finance, operations, sales, and marketing.
There are a plethora of software that you can use to organize and manage your teams.
Using solely email makes it difficult to organize and can make things very messy.
KPIs can be used to track the progress of the business and each individual department.
Most real estate agents are focusing on the lagging indicators instead of the leading indicators.
Keeping a finger on the pulse of the company will ensure that nothing is broken and holding the company back from growing.
Geordie is working on a new project that is going to bring in more leads through social media.
Twitter and Facebook provide a massive number of free leads if you know how to look.
Focus on finishing one task until it is done before you move onto the next one.
Diversifying your portfolio will allow your business to break through the challenge of a global pandemic.

3 Key Points:

When you are able to track your time, you can find out how much time you are spending on tasks that should be delegated.
Writing out the key elements of the business, and then training other people to do those, is how all companies grow. Your business is not going to be different.
Using Key Performance Indicators (KPIs) allows entrepreneurs to track their most important numbers and keep a finger on the pulse of the business.

Resources Mentioned:

Learn more about (Hyperfast Academy); (Join the HyperFast Team)
Dan Lesniak (bio, Facebook, Twitter)
Geordie Wardman (Website, Twitter)
Loom - Video Software
Profit First - Book
Zoom
Slack
Trello
Skype
Google Hangouts
Google Sites
QuickBooks

Episode #183 Build Your Relationship Base with Larry Perkins Sep 18, 2020

Show notes

In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with Larry Perkins, the author of the relationship-building book, Don’t Be A Stranger, and an experienced entrepreneurial consultant with over 18 years of experience. Listen to hear why building your relationship base is so important for your business, especially during the current pandemic.

Episode Highlights:

The Zoom world has taught businesses and entrepreneurs how to pivot their businesses and use their time differently.
Larry has become passionate about building relationships over the last 13 years since he started his business.
Don’t Be A Stranger is all about how to build relationships.
The art of building relationships is more relevant than ever right now because of the global pandemic.
Larry has kept the relationships the same, meeting people where the relationship sits naturally, just over Zoom.
As it relates to networking and marketing, group calls with a moderated discussion can be personalized to connect on a human level.
So much content and Zoom communication has brought about a certain level of Zoom fatigue.
Leverage the group calls to create client relationships at an individual level.
Efficient follow-ups ensure that you are top of mind when they need someone to solve their problem.
The human brain can only track about 150 things at a time, so you must stay relevant.
CRM helps when you are coordinating amongst different people when it can be kept simple.
The context of the conversation does not necessarily matter as much as that the conversation is happening.
Having established organic touchpoints help people remember that you are alive.
Stay in touch with someone because you like staying in touch, because they won’t pick up when you are being too pushy.
You never know when these random relationships will blossom into a business relationship, or put you in front of the right people,
Don’t bring a negative into the conversation,
Focus on the things that people actually want to read about and stay away from how great you are,
Aspects of networking are going to look unique when the pandemic is over,
Larry offers advice for both experienced and brand new entrepreneurs as it relates to following up with the people in their network.
Don’t be afraid to look dumb doing something that you have not done before.
Larry keeps busy with a plethora of interesting hobbies, including hip hop dance lessons.

3 Key Points:

The need for building relationships hasn’t disappeared with the pandemic, it has only changed forms. You can still keep relationships in the same manner, just over Zoom.
People are going to remember the most recent and most relevant. It’s important to make sure your follow-up system is well thought out so that you are top of mind when the time comes that someone needs your services.
Networking, amongst everything else, will look different post-COVID than it did pre-COVID. We will probably see a hybrid that has some aspects of pandemic networking that will stay, while others will go back to normal.

Resources Mentioned:

Learn more about (Hyperfast Academy); (Get 100 Free Tips)
Dan Lesniak (bio, Facebook, Twitter)
Larry Perkins (website, LinkedIn)
Don’t Be A Stranger (book)
SierraConstellation Partners (website)
Tony Robbins

Episode #182 Take the Right Risks with Henry Daas Sep 16, 2020

Show notes

In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with Henry Daas. Henry has spent over 30 years as an entrepreneur, the last 10 as a coach to both million-dollar and startup clients, and recently wrote a book, FQ Financial Intelligence. With his plethora of experience, Henry has some great advice for new and experienced entrepreneurs alike!

Episode Highlights:

Henry has spent the last decade as a coach for million-dollar and startup clients.
Businesses who already have a million-dollar-plus business usually involve multiple employees.
Startups don’t know what they don’t know and need to focus on the critical path.
Less than 1% of real estate agents even hit $250K every year.
Entrepreneurs tend to keep doing the work when they should transition to the person who pulls the levers.
At the end of the day, you’re still going to run out of time, so you need to hire people.
A short-term investment of time and money to bring someone in and train them up will pay off in the long-term.
Compare the risks of standing still vs. making a move.
The amount of opportunities that are available to you depends on what class of houses you choose to work with.
One problem with entrepreneurs is that they don’t know what the end game is.
Many entrepreneurs don’t have the mindset that they are actually entrepreneurs.
Successful entrepreneurs are fully aware that every single day brings something new, and are prepared for that.
It typically takes three months for clients to know if Henry is the right coach for them.
Human beings love doing things the same way because they are addicted to comfort.
Playing big does not mean taking irrational risks with your business.
Henry’s book was first written as a course, then he decided to turn it into a book.
Early-life experiences mold people’s decision-making skills for the rest of their lives.
The world doesn’t care if you lose your job or income; the bills are going to keep coming every month.
Brokers have no risk until they invest their own money and time in the deal.
Gathering as much information as possible will give you the skills and confidence to be successful.
Surround yourself with the right people that will help push you to the next level.
Henry paid the price for taking a large risk when his business partner committed suicide.
People ignore the risk because they can’t take their eyes off of the return.
Henry likes to spend his free time on the golf course.

3 Key Points:

Entrepreneurs who want to break through a financial ceiling must scale up and bring in the right people to help them grow their business.
Knowing the destination is essential for entrepreneurs because then they can break down the necessary steps to get there.
It is vitally important to surround yourself with the right people. You may think you know everything but the absolute fact is that no one does.

Resources Mentioned:

Learn more about (Hyperfast Academy); Hyperfast Coaching (website)
Dan Lesniak (bio, Facebook, Twitter)
Henry Daas (website, LinkedIn)
Henry’s Book: FQ Financial Intelligence
Get 1 month of free coaching with Henry: https://podcast.daasknowledge.com/

Episode #181 Find the Hidden Opportunity with Michael Gillies Sep 14, 2020

Show notes

In this episode of The Hyperfast Agent Podcast, host Dan Lesniak speaks with Realtor and Team Leader of The Gillies Team, Michael Gillies. In a time that so many real estate agents are struggling, Michael has found a way to continue to grow. The lock down has brought double-digit percentage growth for The Gillies Team, and Michael tells us all about how he’s going to attain even higher levels of success this year!

Episode Highlights:

Michael details his journey from UVA to what was supposed to be a temporary stay in the real estate industry.
The real estate business revolves around the constant drive to see things grow.
Michael’s company is trying to hit its goal of 200 sales by the end of this year despite all the chaos.
In 2008, the financial crisis presented an opportunity for real estate agents to build a strong foundation.
Even in the ugliest of situations, you have to be able to find the hidden opportunity.
Having the right mindset can guide you through life and the chaos that comes with it.
Your team members are going to be directly affected by the attitude that you bring to the table.
If you’re not careful, being a leader can put you on an island away from your team, so make sure to stay connected.
A leader’s job is to make sure that their staff feels, and truly is, secure.
There are still ways to get the job done, but it takes the right attitude and innovation to find those ways.
Don’t focus too much on the negativity of the daily news.
Michael details how he has managed to continue growing his numbers during the global pandemic.
The people that are at the top of their game and industries make the incremental improvements.
Too many agents rely on their charm or vision when some people just want results.
Find a way to highlight your strengths when you go into a listing so you can separate yourself from the other agents.
As a new agent with a small number of clients, you can sell yourself more than someone who has a big team and more clients.
Experienced agents can become jaded because of past experiences and that can interfere with sales.
Expressing your excitement and desire to become a seller’s agent might be all it takes to close the deal.
Get to know your clients at a deeper level so you can really understand their “why”.
Establish your expertise while still showing that you care about and understand their motivations.
Focus your presentation on how you are going to get them to where they are trying to go.
Open your ears to the good things and tune everything else out.
You have to set some boundaries and leave some part of yourself for your family after the work day is over.
Don’t give your clients bad advice because you didn’t take the time to read through the contract.

3 Key Points:

Mindset is everything. It’s a daily choice that will determine if you are going to sit down and take the beating, or stand up and take advantage of the opportunities that are in front of you.
As a leader, it’s vital to put your team members in a position to succeed. With so much uncertainty right now, teams need their leaders more than ever to give them some security.
Show up and get to know your client at a deeper level. Understanding their motivations for moving and where they want to go will make the process much easier.

Resources Mentioned:

Learn more about (Hyperfast Academy); Refer your clients at (kerishull.com)
Hyperfast Coaching (website)
Michael Gillies: (Website; Facebook)
Atomic Habits - Book
MIT Study
National Association of Realtors

Episode #180 The Riches Are in the Niches with Karen Hall Sep 11, 2020

Show notes

On today’s episode, host Dan Lesniak speaks with Karen Hall, Principal Broker with @Home DC Metro. Listen to Karen talk about the unique needs of military families, how she found her niche, and the difference between marketing and branding. Dan and Karen also discuss the pandemic, and focusing on what you can control as a means to achieve success.

Episode Highlights:

Karen’s husband was in the military, and when he left and they bought a house, they had a horrible experience that inspired Karen to sell homes herself and give clients a better experience than she had.
She started her own brokerage called @Home Real Estate in Alexandria, VA.
They have about 12 agents right now and do all their marketing and “help-desking” for them.
Because of her family’s military background, she has been able to market herself as a military relocation specialist and work with a lot of military families.
Focus on who you authentically are as an agent.
Initially, before Karen knew a lot about marketing and before social media was everywhere, she bought a bright yellow Hummer and put her business decals all over it and it got a lot of attention.
Karen has been surprised to find that a lot of younger agents don’t realize that marketing and branding are two different things.
Marketing is an activity you do, but branding is who you are, and it’s something the community decides.
Karen has brought back the cars as a branding tool.
You have to not only be diligent about maintaining relationships, but also about leveraging your sphere of influence to grow your customer base.
Working with military clients, you have to understand that their definition of home is completely different.
It’s important to know which lenders really understand VA loans; lots will say they work with VA loans but don’t really understand the nuances and the processes.
Everything, down to how many homes you look at in a day, is different with military clients.
During the pandemic, a VA loan with a military client is actually a more solid financial guarantee for lenders than a regular civilian job.
Last year, Karen did about $10 million in transactions, but this year she’s hit that number by August.
Karen attributes her success to investing in herself as a businessperson.
Mindset is also important, and Karen has seen the pandemic as nothing but opportunity.
Now, farther into the experience of the pandemic, Karen is more fearful of the new normal, but focuses on controlling only what she can control.
Karen’s biggest piece of advice to a new agent is to set your sphere of influence strategically as your base.
The biggest challenge for Karen has been that she’s always felt like the person in the room with all the answers, so she’s struggled to find someone who she looks up to as a mentor.
Karen’s biggest piece of advice for a real estate investor right now is to find off-market connections.
When she’s not working, she’s doing CrossFit or hanging out with her dogs.
In five years, Karen hopes to be helping grow other people’s success.
Karen works in Northern Virginia, Southern Maryland, and Washington DC, and specializes primarily on military families but can help anyone, and has a specialization in home renovations.

3 Key Points:

Military relocation is an important real estate specialty that requires specific knowledge and relationships.
Real estate is a business that’s all about relationships, so think about your sphere of influence strategically.
Focus on controlling only the things you can control.

Resources Mentioned:

Learn more about (Hyperfast Academy)
Get the Hyper Local, Hyper Fast Real Estate Agent book for FREE: (www.hyperfastfreebook.com)
Karen Hall (Website, LinkedIn, Facebook, Instagram)

Episode #179 Becoming a Landlord with Laurence Jankelow Sep 09, 2020

Show notes

During today’s HyperFast Wealth segment, host Dan Lesniak speaks with Laurence Jankelow, Co-founder of Avail. Hear Laurence talk about his experience as a DIY landlord, and how his software, Avail, helps address the problems he encountered when becoming a landlord. Learn his tips and tricks for getting started as a landlord and how to market your business.

Episode Highlights:

Laurence was a finance major in college, worked in consulting and data analytics, then joined Goldman Sachs.
He was able to buy a three-unit apartment building off-market from a friend.
In discovering some problems as a new landlord, Laurence and a friend decided to build software to help solve those management problems.
For this initial deal on the three-unit building, Laurence got it at a 10 gross rent multiplier, which was a great deal.
Gross rent was about $6,200 per month.
The challenges Laurence faced and wanted to solve included automating reposting rental listings, collecting rent, and more.
The software is really designed for small, do-it-yourself landlords with fewer than 9 units, though they have some users with 200-300 units.
The software allows them to post listings, screen tenants, generate lease agreements, and tenants can pay their rent and request maintenance through the portal as well.
These smaller landlords are all but ignored in the market, with property management software mostly geared towards folks with huge portfolios.
Software geared towards people with thousands of units is too cost prohibitive for smaller landlords.
Right now, the software is free for all landlords; they only charge applicants for tenant screening reports and there is a small convenience fee for online rent payments.
Landlords can also pay $5/month for premium features including increased customization and faster rent payments.
They currently have 200,000 landlords and just over 400,000 tenants.
Laurence estimates that 90% of their users have only 1 unit.
They offer live chat and phone support 7 days a week.
Landlords with only 1 unit don’t generally think of themselves as landlords, so it’s difficult to market to them.
To reach these people, Laurence and the company publish a lot of white papers and guides in response to common search terms they see, like “What do I do if my tenant’s rent is late?”
Avail plugs in pretty seamlessly with listing websites like Zillow.
They’re looking to add more financial reporting features, and increase features around maintenance.
Another opportunity Laurence sees is in matchmaking people who want to get out of being a landlord with people who want to grow their portfolios.
Personally, Laurence has increased his portfolio to two 3-unit buildings in Chicago.
Laurence’s biggest piece of advice to a new real estate investor is to treat it as a business.
The biggest challenges Laurence faced as an investor were getting started because of all the unknowns, and the fact that his building required a lot of maintenance.
Laurence puts money away for future repairs that he foresees, like roof replacement.
To learn how to get into real estate investing and being a landlord, you have to learn by doing.
For people looking to buy a property, Laurence recommends the forum Bigger Pockets, as well as finding a real estate agent that specializes in investment properties.
It’s tough to know when you’re ready to switch from investing as a side hustle to making it a full time career, but look at the kind of lifestyle you want to live and what you can afford.
When he’s not working on Avail, you can find Laurence playing with his two young daughters.
Five years from now, Laurence hopes to continue improving the way landlords and tenants communicate.

3 Key Points:

Small DIY landlords are almost entirely ignored in the market.
Many DIY landlords don’t even think of themselves as landlords.
The industry is lacking in educational resources for DIY landlords.

Resources Mentioned:

Learn more about (Hyperfast Academy)
Join the Keri Shull team: (www.kerishullcareers.com)
Laurence Jankelow (LinkedIn, Twitter, Facebook)
Email Laurence at laurence@avail.co
Avail (website)
Bigger Pockets Forum: (https://www.biggerpockets.com/forums)

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The HyperFast Agent Podcast

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