Do These 6 Things Every Week To Scale Your Business or Real Estate Portfolio
The Amplified Impact Podcast
February 13th, 2023
Ready to take your real estate portfolio to the next level?
In today’s episode of the Amplified Impact podcast, Anthony shares tips that helped scale his portfolio to $70 million in just three years.
Whether you’re a W2 worker or an entrepreneur, these strategies can help you think through your business and grow it.
From pinging the top 10 brokers in your market every week, to spending an hour consuming market data, attending local meetups, underwriting deals, and submitting offers.
These steps will help you become a master of your market and scale your business.
Tune in for insights and actionable advice for growing your business.
TWEETABLE QUOTE:
“Real estate is a relationship game and it’s all about timing. Sometimes you might catch a broker at the perfect moment where they’re just leaving a conversation with a seller, and you can swoop a deal just by being present and being there at the right moment.” – Anthony Vicino
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Episode Transcript:
Anthony: [00:00:00] Hey, what’s up everybody? Welcome back to the podcast. I am jazzed to have you here. I don’t know why I did it like that, but I did kind of like the jazz hands a little bit. So, I hope that, hope you made that visual. If not, just know that, all these podcast episodes are available on YouTube. the YouTube channels, like Amplified Impact or something like that, I’m not sure.
Anthony: what it is, but all the videos are there. So you can see my, my smiling face as I’m, as I’m talking if you guys are ever interested. But let’s talk about, how to scale a real estate portfolio in, six simple steps. Like, here are the six things that you need to do every singles. Every single week if you want to scale a real estate portfolio.
Anthony: Okay. If you’re not interested in real estate, in building a portfolio, that’s cool. This is still helpful to think through regardless of what you’re doing. If you’re a W2 worker or an entrepreneur with like a, a direct to consumer soap, soap brand, let’s say [00:01:00] this is still going to be. and I’ll, I’ll, I’ll explain exactly why.
Anthony: So every single week, if you want to scale a portfolio, and this is exactly how we scaled, just 70 million in three years, this is what we did every single week. We won pinged the top 10 brokers in our market every single week. With a message, an email, a text, and just said, Hey, what you saying? Keeping our fingers on the pulse, letting ’em know that we’re alive and staying in front of them constantly because real estate is a relationship game and it’s all about timing.
Anthony: Sometimes like sometimes a broker is literally just leaving a conversation with a seller, and you might catch them at the. Perfect moment where they’re walking out the door and they go, oh, you know what? Let me just go back actually and talk to him and see like, this might be a really easy transaction to get done.
Anthony: We don’t have to do all the marketing and everything like that. So you can land, you can swoop a deal just by being present and being there at the right moment. So ping the top 10 brokers in your market every single week. Number two, spend one hour [00:02:00] consuming market data every single week. You need to be a master of your market.
Anthony: You need to know what’s happen. In your market every single week, what’s happening? legislation, local grassroots movements. You just have to know everything about your market because things shift really, really, really quickly. And I’m not just talking macroeconomics, I’m talking microeconomics on a, on a neighborhood level.
Anthony: Pay attention and have your finger on that pulse. Number three, attend one local meetup every single week. I think it’s important to put your face out there, see people in your, in your neighborhood, in your market. And this doesn’t have to just be real estate. This like a, you could go to a neighborhood meetup and as a landlord be present and be, you know, somebody that people can talk to and engage with.
Anthony: Puts a face to a name rather than just making you this slummy landlord that nobody knows about. So go to local meetups, go meet people. Even if that’s like going to real estate meetups and meeting wholesalers and single family fixing and flippers, you just never know which relationships are going to bear fruit in the future.
Anthony: And so, Regardless of what [00:03:00] business you’re doing, if it’s, you know, again, you’re, you’re selling soap or you’re, you’re selling real estate, the first thing that you always have to overcome is obscurity. Like you, your customers have to become aware that you are out there and you have a product that can serve them before they can ever do business with you.
Anthony: So get out there and attend one local meetup every single week. Next is underwrite five deals every week. That’s one deal. A. It doesn’t have to even be a good deal. It doesn’t have to do anything, but you need to keeping your pencil, your pencil really sharp. You need to stay on top of local trends in terms of what’s happening with rent and cap rates, expenses, like you need to see a lot of deals to keep your, your radar open to what is a good deal.
Anthony: And so you need to stay in the habit of. Underwriting a ton of deals because the ratio is something like for every a hundred deals you look at, you’re probably only going to close one. So that’s a lot of deals that you got to, you got to go through before you get to that one. That’s worth seeing. Now, this one’s harder.
Anthony: It’s going to depend on your location and like, deal flow. But [00:04:00] you should strive to do three property tours every single week. So putting boots on the ground, actually seeing the building, talking to the brokers, putting in the FaceTime. Like a lot can, a lot of benefit can come from actually seeing the property, even if it’s one that you don’t anticipate putting in an offer on just again, becoming a master of your market.
Anthony: Meeting people. Sometimes the seller is there and the, the sellers are great relationships to have because if they own one building, the chances are they might own two, and you could maybe buy that one from them in the future if this one doesn’t work out. And then finally, you should be submitting one offer every single week that gives you about 52 offers every single year.
Anthony: And you know, I would expect maybe, maybe you get 5% of those. So that’s a really low, low number, right? Like that’s about three deals a year that you could get done at that ratio if you’re putting in one offer every single week. But if you do this, if you put in your one offer, you two or three properties, you underwrite five deals, your ten one local meetup, you do one hour of market research every week and you ping the top 10 brokers in your market, you’re going to be able to scale exceptionally.[00:05:00]
Anthony: Truly, it’s going to be bonkers. You’re going to have more deal flow than you know what to do with now. Okay, so what does this have to do with people who are maybe not interested in real estate so much? Same thing, right? Spend one hour every single week researching your market, your industry. What are your competitors doing?
Anthony: S you know, maybe publish one long form piece of content every single week to help overcome obscurity and establish authority. Maybe you attend one conference, one event, one Chamber of Commerce. maybe you call 10 contacts for referrals. Reach out to 10 customers to get reviews and testimonials. Maybe you prepare a pitch, maybe you design one new product.
Anthony: Maybe you launch one new product, . So. Maybe you make one limited time offer to your, your email newsletter. Like, doesn’t really matter what the five, six things are that you do each week, but what you do need to do is you need to identify what are your key money making activities, your MMAs or your KPIs, your key, performance indicators that you need to execute every single [00:06:00] week.
Anthony: And if that you do those things, eventually they will lead you. That’s what you need to get crystal clear on. And then if you tackle those things, you’re going to have more growth than you know how to handle. So hope that was helpful guys. I hope this gave you a new framework. I want you to go home, do your homework now, sit down and figure out what are those five or six things that I need to be doing every single week that will lead me to my desired.
Anthony: End state and then let me know what those are. I’d love to hear from you guys. Share it on Twitter. I think that’s probably the best place to do this. Just go shoot me a DM or make a tweet and then share it with me. let me know what are your KPIs or your money making activities that you’re going to be tackling to explode your portfolio or your company with growth.
Anthony: So I hope this brought you some value, guys. I appreciate you being here. As always, stay hyper-focused, my friend. I’ll see you in the next episode.
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