The HyperFast Agent Podcast

Latest Episodes:

Episode #178 Making, Saving, and Protecting Your Money with Scott Smith Sep 07, 2020

Show notes

During today’s HyperFast Wealth segment, host Dan Lesniak speaks with Scott Smith, CEO and Founder of Royal Legal Solutions. Learn why protecting your assets and preparing your estate plan is so important, some common mistakes and misconceptions people have about asset protection, and more.

Episode Highlights:

Scott went to law school and bought a property with a business partner during law school, which allowed him to graduate with no debt.
As a working attorney, he kept using his income to buy more real estate until he was earning more in real estate than as an attorney.
Now Scott’s goal is helping as many people as possible achieve financial freedom.
Most people forget about how much money they should be saving on their taxes as a real estate investor, so Scott recommends sitting down with a tax professional to prepare a strategy.
Scott uses tax savings to invest in more real estate, building up his passive income over time to always improve his life.
If you’re making under $50,000 per year, you don’t need to focus on tax savings yet.
Once you’re making over $50,000, you should set up an LLC and an S-corp tax election.
When you have an LLC, you can set up a solo 401k account as a personal retirement fund.
You’re limited to around $55,000 for what you put into your solo 401k each year.
Scott’s company does not offer tax expertise where they’ll go through someone’s tax return line by line, but they offer a $149 consultation to determine a strategy that includes taxes, asset protection, and estate planning.
You won’t achieve financial freedom by thinking like a salesperson; you’ll only reach it thinking like a businessperson.
Setting up an LLC to protect your assets takes about 1-2 hours and about $1,000.
If you think about these things from the beginning, it sets you up to grow and scale correctly, which prevents major problems down the line.
Scott recommends creating a living trust, especially if you have children, to avoid probate court should you die.
You don’t have to set these things up perfectly in one go, you can revisit them to adjust things or make larger changes if your circumstances change.
Scott’s biggest piece of advice for an agent or investor just starting out is to find the top 3 people whose life you want to emulate and figure out how you can bring them into your circle to learn from them.
The most common mistake Scott sees people make is simply not taking action on these planning steps.
When he’s not working on real estate deals, you’d find Scott rock climbing and mountain biking.
In five years, Scott sees himself having a community of people he’s influencing and helping achieve financial freedom.
Achieving financial freedom means really assessing what matters to you the most.
Scott publishes a new book of tips and tricks every month in his Facebook group.

3 Key Points:

Achieving financial freedom means taking stock of what matters to you and thinking more like a businessperson.
Work with a tax professional to make sure you aren’t leaving money behind.
The few hours, and relatively small amount of money that setting up these plans takes, is worth the thousands of dollars you save by having them.

Resources Mentioned:

Learn more about (Hyperfast Academy)
Download 100 Tips to Grow Your Business: (www.hyperfasttips.com)
Dan Lesniak (bio, Facebook, Twitter)
Royal Legal Solutions (Website)
Tax, Legal and Asset Protection Secrets for Real Estate Investors (Facebook Group)

Episode #177 Doubling Business During COVID with Ashley McDougal Sep 04, 2020

Show notes

On this episode of HyperFast Agent Podcast, host Dan Lesniak speaks with Ashley McDougal, a mortgage lender turned real estate agent. Hear how Ashley ended up on track to double her business this year in the midst of a pandemic, and the advice she would give to both new and experienced agents.

Episode Highlights:

Ashley is a realtor in Hampton Roads, VA, and was previously in mortgage lending but switched after the 2008 crisis.
As a lender, she started to get close with a lot of the realtors she worked with.
Ashley had her first closing as a realtor about 5 months after she started.
Some advice Ashley would give to a realtor about understanding lenders is that you should look at your lender as a partner, not merely as a source of income.
Find a lender that has, for lack of a better term, good bedside manner.
Ashley only works with local lenders.
Ashley’s area has a heavy military population, so lenders she works with have to have a strong knowledge in VA loans.
With the support of Hyperfast Coaching, Ashley is on track to nearly double her business this year even during COVID.
Available inventory is low right now, along with low interest rates, so there’s a lot of pent-up demand.
Ashley has been sending a lot of off-market letters and she’s getting much higher than normal response to them.
As an agent, try to find the perfect home for the client no matter the inventory by using off-market outreach.
It’s important to tell your client what strategies you’re using to do this, so they understand how hard you’re working for them and your word of mouth will be better.
Ashley hired a marketing specialist and is growing a team of agents and administrators under her.
During COVID, Ashley has prioritized a lot of marketing, press and PR for her business.
Ashley’s family has “adopted” a nurse to support with gifts and emotional support during COVID, and it grew into a Facebook page called “Adopt a Hospital Hero.”
The program also dropped off gifts on a weekly basis to several hospitals.
Ashley’s biggest piece of advice to a new agent is to spend at least two hours of your day prospecting.
Ashley’s advice to an experienced agent is to find a mentor that is two steps ahead.
Her biggest challenge in her career is balancing being a mom and being an agent.
When she’s not selling real estate, she’s watching her kids at a wrestling match or soccer game, or spending time with her 6 month old chocolate lab.
In five years, Ashley would like to see her team hit 10 people, and she would like to have experienced a lot of personal growth.

3 Key Points:

Build a relationship with the lenders you work with and view them as a partner.
Especially in a time of low inventory, don’t forget about off-market prospecting.
Remember that there is always room for more personal growth.

Resources Mentioned:

Learn more about (Hyperfast Academy); (HyperFast Coaching program)
Dan Lesniak (bio, Facebook, Twitter)
Ashley McDougal (Instagram, YouTube, LinkedIn)
Email Ashley: ashley@sell757.com

Episode #176 Understand Your Investing Market with Jeff Love Sep 02, 2020

Show notes

During today’s HyperFast Wealth segment, host Dan Lesniak speaks with Jeff Love, an attorney who focuses on real estate, corporate, and securities law. Listen to hear Jeff’s advice for new investors putting together contracts for residential and commercial real estate investment deals.

Episode Highlights:

Jeff Love is an attorney that specializes in putting together contracts for residential and commercial real estate deals.
It's important to understand the market that you're working in to advise potential investors.
When getting into larger deals, understand that investors are looking more at cash flow, potential appreciation, financing, and the tenants they might attract.
If you want to get into bigger deals, start understanding the metrics investors are using to look at those deals.
A common pitfall first-time investors make is not understanding their market.
You need to understand the whole process if you don't already have experience.
Educate yourself before you get hands-on experience.
Talk to fellow agents that are in the multi-family space.
Team up with someone with experience.
A big part of what Jeff does is putting together different types of partnerships.
You need to have a strong team in place as a new investor.
You need a strong agent to help you find properties and to negotiate a good deal.
Ask if you have a good insurance broker that ensures you have the right coverage and premiums.
There's no substitute for a good accountant. You may also want a cost segregation expert.
You need a good attorney to help you prepare these documents.
When you put together an agreement, make sure you have the right structure in place.
Know the intention for your project. Know your exit plan for these assets. Make sure your investors are on the same page.
If you bring on partners your timelines may be different.
You can use a buy/sell agreement to manage different triggering events with your partners.
Set up your business entities in the beginning with contingency plans in place.
You want to be able to understand the purchase agreement so you can guide your client.
It helps to have a basic understanding of these agreements.
You'll see a limitation of liability more frequently in these agreements.
Due diligence is much longer in commercial deals because there's much more to review.
It's important to realize that the value of some of these documents that you can get in your due diligence period.
Almost universally you will want to get title insurance.
Being an experienced investor will help you know how to get the best terms.
Understand the financials and the market.
The environment is less competitive now. There will be room to negotiate.
Remember that investments are non-emotional transactions.
New investors should get their team in place before they jump in.
Successful investors learn from their mistakes.
In 2021, we'll see depressed assets and investors taking advantage of those.
Jeff shares what he enjoys doing in his spare time and where he sees himself in five years.

3 Key Points:

It’s critical for new investors to understand their market and the whole process.
You need to have a strong team in place as a new investor.
Be intentional with how you set up your agreement and put contingencies in place.

Resources Mentioned:

Learn more about (Hyperfast Academy); The Keri Shull Team (website)
Dan Lesniak (bio, Facebook, Twitter)
Jeff Love (LinkedIn, website)
Email Jeff at jlove@gibbsgiden.com

Episode #175 Connect Through Media with Abbey Gibb Aug 31, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull speaks with Abbey Gibb about how to stand out and lead with value in a community space. Learn how you can make subtle shifts that will give you more opportunities to connect with clients through the media.

Episode Highlights:

Abbey Gibb was on TV for more than a decade. She won an Emmy for her investigation into child sex trafficking. She found herself in the #metoo movement and now runs her own media consulting agency.
Before Keri gave her first public speech she practiced with Abbey on FaceTime.
Abbey describes some of her image consulting services.
Abbey spoke to Keri about shaping her hair to feel on-brand and on-trend.
Understand your colors and learn what makes your coloring stand out.
Keri wears a lot of deep blues, royal blues, and purples.
Your hair, hands, and clothes are the visual factors to focus on.
Abbey suggests accentuating either your eyes or lips with makeup, but not both. She also recommends either wearing a necklace or earrings, but not both.
When you feel your best, that will affect your energy.
Keri shares about her initial resistance to wearing a center part.
If you want to set up a call, you can do a deep dive with Abbey about your messaging and branding.
With Abbey, you'll learn ways to start popping above the radar.
Get yourself up and dressed and back into the flow.
Value is the currency of connection.
Offer content people can learn from to add value.
When you lead with value in a community space, you create connection.
Connection is why people begin to love you and want to buy from you.
Abbey thinks radio is a wonderful opportunity once people are commuting again.
Reach out to your local television shows.
TV is a wonderful step for connecting with your community.
Most of Abbey's clients do TV within a week of working with her.
Get into community Facebook groups.
Reddit is where the Millennials hang out online. Repurpose your LinkedIn content there.
Once you provide value, offer a free breakthrough call.
Create a three video email series to use for followup.
Abbey shares effective examples of how to use the three video series.
TikTok is a wonderful place right now because there's no set standard.
Abbey coached Keri on how to be herself on video.

3 Key Points:

Looking your best will positively affect your energy.
Lead with value to encourage connection.
Use radio, television, Facebook groups, and Reddit to get in front of your community.

Resources Mentioned:

Learn more about (Hyperfast Academy); Keri Shull careers (website)
Abbey Gibb (website) (Facebook) (Instagram) (LinkedIn)
Email Abbey at helloabbeygibb@gmail.com
Abbey Gibb’s TED talks (video) (video)
Reddit (website)

Episode #174 Add Value With Guaranteed Sales with Tom Daves Aug 28, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull speaks with Tom Daves about adding value with guaranteed sales. Tom shares how he helps clients using guaranteed sales, why guaranteed sales can help sellers who are on the fence, and how to use endorsements to generate leads.

Episode Highlights:

Tom Daves is with eXp Realty in Northern California.
Tom started using guaranteed sales as a differentiator.
Guaranteed sales can take away fear. People like having different options.
Tom explains how a guaranteed sale works.
Tom has been successful by giving his clients three options.
Keri tries to get her listing agents to identify where the fear and stress is coming from and use the guarantee to shore up that fear.
Keri's goal with guarantees is finding a way to create a win for the client.
Guaranteed sales are a good conversation starter.
Tom hired a local celebrity to endorse his services on radio.
He believes that having an endorsement is much better than advertising on the radio himself.
During the pandemic, Tom has seen investment buyers pull back.
You can leverage testimonials from happy clients moving forward.
Radio works a lot better for Tom’s commercials.
Tom connected with Radio and TV Experts (RATE) to make his connection with Barbara Corcoran.
Many people are not selling simply to get the top price.
Guaranteed sales can push a prospective seller off the fence.
Tom shares how he handles calls inquiring about the guarantee.
He asks about their timing, where they're going, and what they think their home is worth.
A lot of people lose business by trying to entertain the client's questions on the phone.
Get as many video testimonials from your clients as you can.
How you coach clients to do the testimonial is so important. Ask them to describe the problem they faced and how you solved that problem.
Most of the time you'll pay for an endorsement from a celebrity.

3 Key Points:

Offering guaranteed sales gives your sellers more options.
You can leverage testimonials from happy clients.
Guarantees are a perfect way to solve for sellers who feel reluctant to list.

Resources Mentioned:

Learn more about Hyperfast Academy; Get Dan’s book for free here
Keri Shull: Linkedin, Facebook, Instagram
Tom Daves website, Facebook
RATE website

Episode #173 Five Tips to Boost Your Business with Keri Shull Aug 26, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull provides five tips to boost your business. Keri’s tips will help you deepen relationships, expand your sphere of influence, and get in front of the people that matter most.

Episode Highlights:

Some of Keri's tips will be easy to implement, others will be harder.
It’s important to deepen relationships.
Keri started doing webinars with other people in her network to teach.
Think of people who have the opportunity to refer you to many clients.
Think about your past clients. Who are your raving fans?
Think about your prospects. Certain prospects can connect you to whole groups of people.
Consider your vendors, such as stagers, lenders, and more. Think about how you can add value to them.
Leverage video with clients.
Keri challenges you to send an individual video to all the people on your list to make your connection more tangible.
In video, show them that you care, make it personal, tell them how you're serving clients, and ask of anyone they know that you may be able to support. Wish them safety and health.
Don't overcomplicate it. You can create videos with your phone.
Leverage LinkedIn.
Look for corporate accounts.
LinkedIn is a great way to expand your network.
On weekdays, Keri connects with at least twenty new people.
Keri goes to the influential people in her sphere and goes through their lists to see who she wants to connect with.
Keri got 39 recommendations in two days just by asking. This can build your credibility on LinkedIn.
Write recommendations for your vendors.
Build LinkedIn time into your daily calendar.
LinkedIn can be very empowering when you're trying to rebuild.
Corporate accounts will allow you to do one buyer presentation and capture many clients.
Do an educational event where you provide value to their staff and you educate them.
Be specific with who you're targeting when you're going after corporate accounts.
Present yourself as a community liaison.
Think about how you can support another business.
When you add value creatively, businesses are excited to work with you.
Keri speaks about writing letters of the heart. Express some vulnerability.
Welcome connection and emphasize that relationships are important to you.
Gifting is all about staying in front of the people that matter most.
When a seller doesn't want to list during COVID, dig deep into their why.
Isolate why they would make the move and what it would mean in their life. Then assess what they're afraid of.

3 Key Points:

Leverage video to stay in front of your most important clients and prospects.
Go after corporate accounts and present yourself as a community liaison.
Use gifting and letters of the heart to nurture connections.

Resources Mentioned:

Learn more about Hyperfast Academy; HyperFast coaching website
Keri Shull: Linkedin, Facebook, Instagram
Giftology (book)

Episode #172 Renovate to Add Value with Tom Parmentier Aug 24, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull speaks with Tom Parmentier of Max House Price about an innovative way to add more value to sellers. The strategies shared in this episode will allow you to set yourself apart from the competition by giving your sellers more options and helping them make more money.

Episode Highlights:

Tom Parmentier began his real estate career working in investments. He has analyzed over 50,000 properties for comps.
His business, Max House Price, helps sellers who are in a position where they don't want to sell to an investor and they also don't want to sell their property as/is.
They partner with agents on renovations.
Sellers often chose Keri because she gave them options.
Think about what you're typically recommending as an agent when you have a property that has obvious problems like stained carpet or a very outdated bathroom.
Listing as/is is low risk, but are you wasting your time?
You could sell to a cash buyer and that works well for many people if they want to sell quickly.
Remodeling for yourself vs. resale are completely different.
Two homes on the same street are not going to have the same scope.
When you look at a home, identify the big issues.
Know the neighborhood.
Be careful of trends.
It's about what's going to get the house sold for your client for the most amount of money.
If you are going to do a renovation, use that as an opportunity to market yourself and your business.
Take before and after pictures to show how you've helped your client.
There's no out-of-pocket expense for the sellers or for the agent when you use Max Price House.
Staging is a good way to bring in a little bit of color.
Establish a relationship with a granite supplier.
Put yourself in the frame of mind of the buyer walking in. Think about what they're expecting.
Changing hardware and paint are very easy things to do.
Renovating will speed up time on the market.
Bringing options to your clients will bring you more credibility as an agent.
This is a great opportunity to think differently about listings.
This strategy will open up your buyer pool tremendously.
Buyers always over-inflate what it would cost to complete renovations, especially first-time buyers.
If you get estimates, let the numbers tell the story.
There's not a set time period that the home has to sell by when using this service.
Max House Price has a buyout clause if people decide to stay.
You can get more listings by presenting more options to your clients.

3 Key Points:

Renovation is one way to partner with sellers to add value.
When renovating, remember what will appeal to most buyers.
Use renovation as a way to differentiate yourself and market your unique services.

Resources Mentioned:

Learn more about Hyperfast Academy; Get 100 free tips from Dan’s book here
Keri Shull: Linkedin, Facebook, Instagram
Tom Parmentier LinkedIn
Max House Price website

Episode #171 How to Approach Developers with Andrew Greer Aug 21, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull speaks with developer Andrew Greer about how real estate agents can expand their opportunities by approaching developers. In this episode, you’ll learn how to approach developers, what to say to them, and the smart questions you need to ask.

Episode Highlights:

Andrew Greer is a developer in San Diego, California. They have three ten-plexes actively under construction and another thirty-eight units in the permitting stage.
You can do more deals. You can do more expensive deals. Or you can do more repeat business.
Andrew likes to do more deals with the same people over and over again.
Many realtors overlook the fact that interest lists are gold.
You can provide value to that interest list while bringing them into your network.
If you work with a developer you'll develop a buyer box. You'll have quick decision making. They are non-emotional clients.
With the right developer, you'll always know you can get certain deals done.
Keri and Andrew talk about feeling out prospects when approaching them to buy their home for redevelopment.
Try to figure out what developers are buying before approaching them.
Instead of asking people if you can pick their brain, ask if you can have a conversation where you can add value to them.
Keri studied the builders in the market she wanted to take over and she noticed they had agents that were not helping them with the acquisition piece.
Tell people you have the ability to acquire the assets they want if they define those assets.
Understand how the developers look at the money and what their benchmarks are.
Understand how they get the money. Ask if they're able to write a non-contingent offer.
Review the properties they buy upfront.
Request their buyer box.
You need to request their buying strategy.
Ask if you could bring them a dream deal, what would it be.
Keri always wants to understand their capacity.
Listen to what's inhibiting their growth.
If you help others lean into their growth and come up with solutions for them, you're creating a long-term partnership.
If you're an agent that can help developers raise money, that's helpful.
You can give your clients another stream of income when you give them an opportunity to invest.
You can host webinars where your builders can present to your clients to create opportunities for investment.

3 Key Points:

Know why you’re meeting with a developer upfront. Do your research about what they’re buying.
Get the developer to define what they’re looking for, then bring it to them.
You can present your clients with opportunities to invest.

Resources Mentioned:

Learn more about Hyperfast Academy; Refer to The Keri Shull Team
Keri Shull: Linkedin, Facebook, Instagram
Andrew Greer Instagram, website
Email Andrew at andrew@thomas-strafford.com
Avail.co

Episode #170 Decide to Succeed with Rock Thomas Aug 19, 2020

Show notes

During the HyperFast “Hangover” Event, hosts Keri Shull and Dan Lesniak speak with Rock Thomas, a best-selling author, motivational speaker, and coach about how to succeed regardless of what’s happening around you. This episode will inspire you to find your personal path for success.

Episode Highlights:

Rock Thomas reinvented his identity at 40 when he was diagnosed with alopecia.
We need to reinvent ourselves today in the current business climate.
Many people right now are doubting their own beliefs.
Look around you and think about what you can use that is available to you.
Look for opportunities instead of being consumed by fear.
The most important thing is to decide what you are going to focus on.
It is your job to find your path for success.
Rock tells the story of how he overcame adversity in 2006 when a huge business transaction fell apart.
We all have a money blueprint. Your bank account reflects your blueprint.
When he lost 1.8 million dollars Rock went out, became an agent again, knocked on doors and sold 65 homes in 9 months.
Consistently go after success and you will succeed.
Many people do not decide to succeed.
Decide right now you're going to win through the pandemic.
Become an expert at something.
Own the experience and show that you're a problem solver.
If you're not lit up, then find a way to put meaning into what you're doing.
Think about what you're going to do with the money you're going to make.
Find a way to run your brain that excites you.
Find a group of people that will hold you accountable by encouraging you, supporting you, and challenging you to be your best.
Success happens over time.
Rock is constantly looking for people with energy that are curious about life, then he invites them to join his world.
Be courageous enough to look for the people who will motivate you.
Say yes to challenges.
Taking on a challenge in one area will strengthen your ability to take on challenges in other areas.
Rock has trained himself to be ready for opportunities.
Lead with service first.
Serving others helps you build up emotional equity.
The fortune is in the followup.

3 Key Points:

You can decide now that you will succeed.
Find a way to get excited about what you’re doing.
Train yourself to be ready for opportunities.

Resources Mentioned:

Learn more about Hyperfast Academy; Join the Keri Shull Team
Keri Shull: Linkedin, Facebook, Instagram
Dan Lesniak LinkedIn, Facebook, Instagram
Rock Thomas podcast, website, YouTube, Facebook, Twitter, Instagram

Episode #169 Start Building Wealth with Noah Ostroff Aug 17, 2020

Show notes

During the HyperFast “Hangover” Event, host Keri Shull speaks with Noah Ostroff about how real estate agents can start building wealth. This episode is perfect for anyone who wants to start investing in real estate.

Episode Highlights:

Noah Ostroff likes to travel, have fun, and figure out how the different aspects of real estate tie into each other.
Noah's long-term strategy is wealth-building.
Keri has known Noah for many years. They traveled around the world together. They've collaborated in their businesses many times.
Ask what happens if you stop selling houses tomorrow. How much money would you have coming in to cover your expenses?
Many people think about retiring at 65. Noah shares interesting statistics about the reality of retirement.
Unless you have a proper plan and path to retirement, you're never actually going to get there.
It's never too late to start building passive income.
Figure out your endgame. Take your job and add a revenue stream based on your access to information.
Figure out what avenue you want to invest in.
Consider doing 1-2 flips per year. Then move that into long-term passive income streams like rental properties.
Always be looking at deals as a shopper. Then when a good deal comes up and the timing is right, become a buyer.
There's always risk associated with being an investor.
If you understand the market and become a student of investments, that mitigates some risk.
Once you learn to minimize your risk you can greatly increase your returns.
Investing requires action.
Keri asks Noah how to learn about the construction piece so listeners can take action as investors with confidence.
Understanding construction budgets comes from experience.
If you don't have experience, attach yourself to someone with experience or hire someone with experience.
Ask your resources how to find a reputable builder you can run numbers by.
You really only know what things are going to cost from doing the same product type over and over again.
Being able to find good deals is the biggest value that you can bring investors.
There are many different ways that you can structure deals.
The key is to find someone who has the money you need for the deal.
You might roll your commission into the deal as your cash contribution.
Dividing up the roles and responsibilities throughout the deal is another approach.
Figure out how to make money while you sleep.
Come up with a goal and keep chipping away at it.
Wealth-building is the business you're building for the future.

3 Key Points:

It’s never too late to start investing. Begin making your plan today.
Become a student of the market and a student of investments. This will minimize your risk as an investor.
As a real estate agent, you can provide value by bringing good deals to investors.

Resources Mentioned:

Learn more about Hyperfast Academy; Get 100 free tips from Dan’s book here
Keri Shull: Linkedin, Facebook, Instagram
Noah Ostroff website, LinkedIn
Email Noah at noah@phillyliving.com

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