s5e64 Rejection, Consistency & Persistency with Bob Erwin
Tom welcomes to the show a successful student of his, Bob Erwin, who has a background in real estate as an investor in distressed properties. Today, Bob joins the show to detail his deal flow and process, how he approaches the beginning phases of a negotiation, and marketing strategies that he has successfully implemented.
Key Takeaways
- 00:53 – Tom introduces today’s guest, Bob Erwin, who joins the show to discuss his background in distress properties, how Craigslist helped him secure a deal, and his latest project
- 07:00 – Why Bob decided to pursue Tom’s program
- 10:36 – Bob details his deal flow
- 13:19 – From small talk to business talk
- 17:50 – Dealing with rejection
- 19:36 – The number one best negotiation lesson Bob has learned from Tom
- 21:55 – Marketing strategies that have worked for Bob
- 25:44 – Advice Bob would give to anyone hesitating to get involved in real estate investment
- 28:07 – What Bob got out of Tom’s Total Traction program and final words of advice from Bob
- 32:14 – Tom thanks Bob for joining the show and sharing his story
Tweetable Quotes
“I enjoy it - vacant property, niches, tall grass, broken windows, abandoned cars, code violations, things like that. As long as somebody is living nearby that property, you can find a way to find that owner and take over that property.” (03:56) (Bob)
“You find that there’s a lot of people out here who just hold on to these properties. They’re sometimes boarded up, they’re paying fees to the city to cut the grass and things like that, but they won’t sell them. Only in America does stuff like this happen.” (04:31) (Bob)
“I don’t pray for patience, I use it.” (07:51) (Bob)
“When you find that one piece of property and you keep hitting them, and hitting them, and hitting them, and staying consistent and persistent and having a little bit of patience, that often wins you that opportunity.” (10:21) (Bob)
“I was in Walmart a couple of weeks ago, and I had on my t-shirt that said, ‘We Buy Houses,’ and somebody in line said, ‘You’re the person that’s sending me those cards all the time.’ And it was somebody that I never sent a letter to, but the idea here is that they recognized who I was. I didn’t make a deal with them, but I gave them my business card and I made sure they knew who I was.” (24:17) (Bob)
