International Investing and Cold Calling with Jared Frost | The Real Estate Investing Club #42

International Investing and Cold Calling with Jared Frost | The Real Estate Investing Club #42

Gabriel Petersen 0:02
Hello and welcome to another episode of The Real Estate Investing club. Place investors go to learn tips, tricks and stories from other investors in the field. If you feel we provide value to you go ahead and hit that thumbs up share whatever it may be. And if you’d like for us to cover a specific topic, let us know in the comments or reach out to us on our website. Today we have a very special guest so buckle up grab your pen and paper and enjoy the ride

all right, we are officially live. We are actually live live Jared so thank you for being willing to be a guinea pig on my my live episode of The Real Estate Investing club.

Jared Frost 0:44
We you know after guest number 40 something

alive right? Only 40 something Jared again,

Gabriel Petersen 0:51
thank you for jumping on to get everybody started. Why don’t you tell everybody you know who you are, what you’re doing and how you got started in real estate in the first place.

Jared Frost 1:00
Man, appreciate it. My name is Jared frost, I am the founder owner lead broker of a team called the blue pebble group based in Denver, Colorado. Blue pebble is a real estate company that offers brokerage through blue pebble homes. We’re also in the process of raising our first investment fund, we’re going to be focusing on fix and flips or flip that fix to rent or flip to sale. We also are launching a property manager and buying company that I can’t talk about right now. So, you know, we’ve got a lot of things going on kind of with COVID. And we’re just seeing a lot of opportunities. So you know, my team’s blue pebble group, and whenever you see the blue pebble brand, that’s kind of what we do.

Gabriel Petersen 1:40
Awesome. I love it. So it sounds like you guys are kind of hearing you know, you got your fingers out there in different different areas of real estate. You got a property management company, you got a brokerage, you’re doing fix and flips.

Jared Frost 1:51
You also launching we’re launching the property manager, so we’re not doing it quite yet. It will probably be live by the end of the year. We finally got approval from our brokerage to do it. So Well,

Gabriel Petersen 2:00
you hear heard it first here, ladies and gentlemen blue pebble group, they’re going to be launching a property management side of their business. So and do you guys also do buy and hold? Or is it brokerage in fixing flips, strictly

Jared Frost 2:14
capital that we currently have is not buy and hold capital. It’s fixing, flip, fix and sell capital. We’re also not seeing cap rates high enough in really the Denver area, even with some good yield on costs, or even some good development spreads to get into a buy and hold strategy yet so you know, we’re I guess, opportunistically looking for those types of investments. Realistically, you’re going to be much more on the multifamily side value add versus single family if you’re doing Bible.

Gabriel Petersen 2:43
Absolutely. We were talking about it that on prior to the show cap rates are super low. Jared is from Denver. I’m from Seattle. We’re battling it out here. So

Jared Frost 2:54
I’m not sure who’s lower. I’m pretty sure like our single family cap rates are like five and a quarter or something like that. It’s just insane.

Gabriel Petersen 3:00
just ridiculous. All right. So that’s what you guys are doing now. So how did you actually get started? You know, we don’t we aren’t born into real estate. Most of us aren’t. Some people are but we I wasn’t. How did you get started in real estate investing?

Jared Frost 3:12
Yeah, that’s a circuitous route, my man. So actually, my degrees are not real estate at all of my undergrads in aerospace engineering and my Master’s in financial engineering. So I actually have a pretty high quantitative math background or quantitative finance background. started my career trading for Credit Suisse, which is a major Swiss investment bank actually traded derivatives from 2007 to 14 on Wall Street in New York. I was on a trading as trading derivatives The day after Lehman, we could we could spend an entire hour talking about that. So great background in you know, definitely market making, you know, macro investment and really just kind of understanding a lot of traders do had a great opportunity. You need to transition into real estate when I moved to Denver. So there’s a company called Black Creek group. Black Creek group includes both Black Creek capital, as well as dividend capital. dividend capital is probably what most people are familiar with. There are one of the biggest non traded platforms in the US, and actually the second largest owner of industrial real estate behind prologic. You’ve never really heard of them. So at least in the United States, and then yeah, so I had the opportunity to work on their multifamily development platform. So we were doing you know, launching private equity funds focusing on multifamily development in Mexico City of Monterrey, Mexico, so got a great background and you know, launching a developer seeing kind of structuring tax implications we also did some special situation underwriting on you know, some hospitality assets as well as some single family stuff so really had a great background, complementing my kind of Wall Street background with real estate development and private equity experience launching a fun with those guys. And so yeah, In Black Korea kind of showed me what the real estate sector was like, um, you know, I think everyone has a life story that isn’t linear, right? And my mind was not after moving to Denver. And so, you know, Black Creek was a great opportunity. And it didn’t last as long as I wanted it to. And so when you know, had to start looking for another one, at that point, I was totally pigeonholed. So like all the private equity shops would tell me I was a real estate guy, all the real estate shops and tell me I was a private equity guy, all the non like PE like, you know, public capital markets. People were like, what the heck did you do in New York and what’s his financial engineering degree? Because Denver doesn’t do that. And so you know, you’re I am a 12 years of institutional finance experience and the best job I could find was pay me 40 grand as an analyst, so I was like, no way. I will go out on my own. Didn’t realize how hard it would be to like make 40 grand in your first year like holy crap. I wish someone would have told me that but you know, two or three years down, you know things start we start hitting our stride. We’re growing the business now. So I definitely don’t regret it now, it was just definitely not was definitely under informed when I went off and chose this path,

Gabriel Petersen 6:16
I love it. No, that’s I love having people on who kind of did that path. It’s similar to mine. I was a management consultant in corporate and I moved over and I was like, Oh, I can do this. But, you know, it’s a lot harder to start a business than Well, no, people do say it’s hard. So I guess I can’t I we can’t say that we weren’t for Warren but for everybody who are who is listening and watching and are thinking about jumping. Definitely do it. But know that it’s harder than you think it’s gonna be.

Jared Frost 6:42
Yeah, I’m in my fourth and fifth year now. And I’ve I’ve only hit my goals never like my, I think if I look at like my annual goals, and like, you know, we track our stuff every day, like I’m always 50% behind my goal. So like if you’re going off starting on in real estate, you’re watching this have great expectations shoot for the stars. And also keep in mind like it’s probably gonna take a little bit longer to ramp up.

Gabriel Petersen 7:07
Yep, yep, I love it but that doesn’t mean don’t don’t shoot for the stars because you got to have those those high goals in order to actually get 50% of the way there so I’m glad that

Jared Frost 7:17
no yeah shoot for prom is like when I started, I was in the middle of a divorce and I only had $5,000 like that was it. So I, I had a month of expenses when I started my brokerage business and I knew 10 people in town because I had just moved to Denver traveling to Mexico. So like, as a residential broker, I started in the worst environment ever right? I had no money, no network didn’t know anything. I didn’t know the market because I was transacting in Mexico. So I had to learn everything simultaneously. And basically had to close a deal a month and like every month to pay rent, so like my first 18 months in the business were close a deal pay rent, cause you to pay rent, and like that’s kind of how we had to do it. So if you’re thinking about sorry, you’re Please don’t do it my way please do it looks like a lot more support behind.

Gabriel Petersen 8:05
So the lesson there though, usually asked is that towards the end, but um, it sounds like that was that was your Valley. And so the lesson there it sounds like when you got your back against the wall and you will get it done no matter what you’re going to push forward. So I love that you’re on the other side, they’re going back to what you talked about earlier. So it sounds like you You started out in in something that not many investors started out with, but I’m sure it’s out there. You have a great background in aerospace and financial math. You went on to Wall Street, you experienced the 2008 crash on Wall Street. That’s, that’s that’s very unique. That’s had to have been an experience

Jared Frost 8:41
managing p&l like actually with a trading book. So that was a real Yeah,

Gabriel Petersen 8:46
I will save that for another podcast. But that had to have been an experience. And from that point on, you move to a Black Creek group and you did multifamily investing in Mexico. So there’s a lot of different directions. We can go Here, I think I’m going to choose the Mexico route because investing in international investing, you know, in multifamily that’s out of country, many people have asked me about this. So kind of tell us what is the process? What are the big, you know, ups and downs, lessons learned? How do you go about investing in? Well, I guess, in Mexico, but internationally generally.

Jared Frost 9:22
Yeah, you know, and this is something I’m not currently doing so I can speak it, I can speak to you from my experience, you know, at Black Creek, obviously, you know, it’s been at this point for five years. So, you know, the landscape in Mexico has definitely changed if you look at what’s happening politically in the country, as well as what’s going on with us. So I’ll say, you know, let me give you more of a general framework versus Mexico specific because I’m really not an expert on that anymore. So you know, the one thing that really struck me about black creeks process right was it they didn’t wake up and say, Hey, I’m gonna invest in Mexico, right like they’ve been investing in Mexico for or they had been investing in Mexico for about You know, at least 20 years before I even started working there, and what ended up happening was, you know, their story is they were kind of doing their own deals, you know, the founding partners and NAFTA got past 94. And really what happened was they realized that with NAFTA passing, they were they kind of realized the the offshoring that was going to happen with us manufacturing down to Mexico. And so they got in in the late 90s, and started doing industrial development, because they knew that there was going to need to be that industrial space for the manufacturing is coming down the result of NAFTA. Right. What they did was they were successful on that platform. And then they realized that their biggest customer in industrial was Walmart. So of course, they then do the retail platform next, right so Walmart base retail, so that was MRP, Mexico retail properties. And then after that, they realize like, Oh, great, now everyone wants to be living where they’re shopping. So like, let’s do Mira which is amazing. Use platform, right? And so like, all their investment strategies have been based upon their experiences before and really just throwing stuff again, against the wall and seeing what’s worked. Now, unfortunately, we can’t all have 25 years of experience to just like, wake up one day and like, figure out what’s gonna work. Right. So the thing that impressed me about them, number one, was they are incredible at due diligence, right. And I would say this applies whether you’re messing internationally, you know, commercial assets in the United States, or even just buying your house, right? Like, money in real estate is made and lost on the buy, period. And if you’re buying bad or lose, you’re gonna lose money. Period doesn’t it doesn’t matter, right? So diligence is what you need to do. When you’re investing internationally, you need to do more than just the real estate diligence, and that’s where a lot of people get caught up, right. So you got a lot of real estate experts coming in and they’re really great at the real estate, right. So what is the asset? What are the rents like what like what is my pro forma look like? They forget the wrapper around it, right? So When you’re messing in country like countries like Mexico, like, what is the balance of tenant landlord rights? Like, what does the eviction process look like? It’s gonna be very different than the United States. How do you underwrite that? How do you mitigate that risk? How do you structure your contracts? You know, whether it’s your leases, your vendors, your GC is like, how do you have to restructure everything for local law, right? Additionally, you also need to keep in mind, they’re going to be tax consequences based on how you structure both in country and country. So, you know, it’s not just the real estate. So I would say investing internationally, make sure you’ve really done diligence on the legal frameworks you understand, you know, also know that as a non as a non international investor. Realistically, if push came to shove in that country’s legal system, like they’re probably going to cut you out, right, like they’re gonna take, they’re gonna take care of the guys who are domestic so you have to make sure that you’re doing it the right way. I would even suggest finding a really great local partner that Something that BlackRock did as well. And, you know, they’ve been successful. So at least those are the highlights that I think I remember from awesome, I love it. So

Gabriel Petersen 13:07
for those who are interested in investing internationally, it sounds like the big hurdles that you kind of that don’t often pop into your your head when you’re investing locally, is that you really have to take into consideration the legality, the legal structure that is that is involved in the local area, as well as the tax implications and just culture demographics, you really have to know the area itself. And I know this, this applies, it doesn’t matter where you’re buying it, it’ll apply to a house you buy next door. But I mean, you do have to be a little bit more do you have to do a little bit more upfront? You know, make sure that you get your due diligence done with your taxes and your legal implications, because you don’t know what could happen. And especially when you’re investing internationally, they’re always gonna look out for their own so you got to watch out there.

Jared Frost 13:54
Yeah, and the other thing too sorry, is also you got to make sure that you’re paying attention to foreign exchange, right. So you That’s something a lot of other people don’t think about when they’re structuring the deal with their ambassadors, right. So like, how is your promote base as $1 base promoters and a local currency promote? So like, for example, you know, if you’re looking at a country like Mexico where, you know, the forward curve would assume that their currency is going to depreciate against the dollar over the next five or 10 years. You know, if you assume that exchange rates get worse for you coming back in the knighted states, like how do you structure that right? So there are just a lot of other complications you need to think about and sorry for cutting off a foreign exchange is probably another thing that I would add.

Gabriel Petersen 14:31
Awesome. I love it. I love it. So you know, you had a lot of experience in investing internationally with Blackie Creek group, but then you made the jump, you became an entrepreneur, you started your own business. So let’s take it from there. You’ve since then you’ve gone into fix and flips property management, soon to be and brokerage. So any investor that’s going to be watching the show, you know, the investing process starts with finding the deal. And that’s really the The hurdle that most investors they run into. So, I mean, you’ve had a lot of success with fixing flips, and even on the brokerage side, which means that you’re good at inbound marketing. And you’re good at finding those deals somehow. So what is the best way that you found to bring in the leads to your business?

Jared Frost 15:19
Time coffee, beer, I mean, I want to write a book and the title of the book is going to be build your coffee or build your business with coffee and beer. And that’s literally right. So I would tell you that there’s no for at least our business and I’m sure you’ve had other guests who would probably say something very different than what I’m about to tell you. Um, you know, I have not found a good cheap, easy way to identify decent leads like mailer campaigns, in my opinion, don’t have ROI. Facebook for salaries doesn’t have ROI. You know, most of the leads that we’ve found are a result of the broker network that we spend a lot of time investing in or, you know, just relationships that we build in town, so You know that his coffee beer shaking hands doing zoom calls whatever I mean it really is over the course of four or five years you know building a network large enough and a brand you know good enough that people are willing to refer us transactions so I would say most some of the best relationships that people can be pursuing. So if you are trying to reach out on your on your own, obviously number one, I gotta give a plug for all brokers out there I am one I always thought brokers had no value like I was a trader, like was a broker do nothing right. So I was convinced brokers had no value and actually struggle with that for the first couple years of me being a broker. And what I’ve realized is that brokers who are good actually do have a lot of value. So the easiest way for an ambassador to originate deals is to build relationships with brokers who are actually doing business, right. So if you’re an ambassador who has capital is not going to mess around like I would happy to speak with you. Because, you know, if I show you a deal, you’re going to give me a quick answer. It’s yes or no if Yes, I know you’re interested, like, let’s move forward. Those are great calls and they’re not alive ambassadors that play by those rules, I only have a couple and they’re always my first call, right? And you want to be the first call, not the second, if you’re not going to be if you’re not gonna be messing in building an external broker network. Some of the best relationships that you can create are with trusts and Estate Attorneys. So trusted Estate Attorneys as well as probate attorneys are the ones that are helping families manage that process. Now, a lot of times those attorneys need to act as fiduciaries. And as a result when you’re helping them you also need to act as a fiduciary if you’re a broker, as an investor, though, you have different rules if you’re not licensed or if you’re not participating as a listing agent. You know, to kind of get some of those deals because you know, they’re all people that died, typically not updated, you know, there’s some work to do and you know, most of the next gen doesn’t really care about the extra five or 10% they just want to get their money now. So those are right for kind of, you know, cash deal fix and flips.

Gabriel Petersen 17:58
I love it. So I mean, two things have popped into my mind. For one, you’re definitely not the first person that said relationships is where real real estate is. And that’s not to denigrate you, but to say that relationship or real estate really is a relationship business. And so just like Jared said, if you want to build your business, beer and coffee, I love that that is a great title for a book, buy the beer and coffee go out, you know, meet people meet brokers, start networking is a great way to get started. It’s amazing what comes out of your network once you start to really put effort into it,

Jared Frost 18:29
like so. So so we can give people contacts like I had 500 networking appointments last year. Wow. So like, I was averaging two coffees or beers a day, every single business day of 2019 Wow. So like that’s, that’s how much time and effort I put into building my network and my relationships, right? Obviously 2020 different with COVID. But you know, those are not relationships. You can just happen once like those are those take years and like, it takes a lot of effort, right?

Gabriel Petersen 19:00
Yeah, absolutely 500 that I’ve never heard of broker or anybody in the business give a number to it. And that is that is a lot. That’s, I mean, that’s more than one a day. So that’s impressive. That’s a lot of beer. That’s I mean, it’s a you gotta be running a lot to keep the shape there.

Jared Frost 19:15
Oh, yeah. Well, no, it’s just coffee and beer, right? no carbs, right. If you just do coffee and beer like you’re good, right?

Gabriel Petersen 19:22
Yeah, you don’t you don’t order off the menu. Just coffee beer. I got ya. Your

Jared Frost 19:25
kidneys love you. Your liver loves you, man. That’s exactly how to go.

Gabriel Petersen 19:28
Another thing you said was probate. probate leads, you know, I’ve done this myself and I but I’ve actually, you know, gone to the courthouse. You mentioned actually networking with trusts and Estate Attorneys, which I’ve never heard of surprisingly, that’s actually a really good idea. So can you I mean, as a broker, you can do this. You also recommend that just regular investors who are not they’re not brokers, but they have money and they’re looking to buy properties. You think this is also a good method for them to go about finding probate leads? Absolutely.

Jared Frost 19:59
Yeah, I mean, well, The, you know, why not only the attorneys, right, because the attorneys sometimes are getting a lot of junk mail. The other thing I would suggest you do is go after the paralegals. Right. So like, the paralegals are the people that like never get any attention whatsoever, because apparently those are not attorneys. Right. Apparently those are the ones simply go into the courthouses are the ones like doing the filings doing the paperwork, they’re doing all the grunt work, they know exactly where all the stuff is. So if you’re trying to get in with an attorney or with a law firm, and you can’t get in, get in with a paralegal first because there’s no way they’re not going to take your meeting, right? No one’s reaching out to him. Okay. What you can do as an investor, right is very simple. So, you know, sometimes families don’t care about money. Like sometimes if you had I mean, our average price went down was like around 400,000. Right. So a lot of these probate deals, assuming you need to put a fix on it are going to be somewhere around 300 grand, right. So like, some people like if you do an offer deal for 275 and that closes in two weeks cash dine, right some people will just take that because they don’t want to deal with the BS of like, you know, oh like I you know for whatever reason emotional nono like I just don’t want to deal with it. I don’t care about 325 Just give me 275 now right and so those attorneys will know that because they’re the ones talking to their client and so I think it’s a very easy conversation to build this network with these guys it’s look if your guys want to hire a broker, but at the end of the day All they want is a cash offer and close quickly with like no stress, just give me a call like don’t pay a broker to like list your property and do all this like they won’t pay commissions. They won’t do anything. The number I give them limit the number they cash, like I’ll pay their closing costs, will bake it into the deal. I’m gonna make this as easy as possible for you guys, right? You basically just make yourself an eye buyer for every single trust and estate or probate attorney in your city and like how could you not get deals out of that?

Gabriel Petersen 21:52
Yep, I love it that I mean it makes a lot of sense. I’m surprised I haven’t thought of it myself before but I’m glad you brought it here. Because that That’s a great wisdom gem that you shared. I’m gonna move us on a little bit. So we’ve heard a little bit about your business. We’ve heard about some some great advice on investing internationally. And then just trusting Estate Attorneys. That’s the one I’m taking out of this personally. So I want to go into your experiences a little bit. You already touched on, you know, the one of the low periods you had, but we always talk about the real estate rollercoaster. Real estate is a roller coaster, it goes up, it goes down doesn’t matter how good you are, you’re always going to hit the low points, you’re always going to hit the high points. So kind of take us back I suppose to that low point, or to a different low point and just tell us what was the best lesson that you pulled from that one?

Unknown Speaker 22:43
Oh, man.

Unknown Speaker 22:46
Ha.

Jared Frost 22:49
You know, I would say I had a really tough My life was pretty tough for that. And by the way, like this, everyone, it’s all perspective, right? I mean, I’m very grateful. I’ve done a lot of work on grass, too. And I now I mean, that’s been probably the biggest thing for me over the last 18 months is just appreciating all the abundance that life has. Right. You know, I think, for me, you know, I went through an experience on Wall Street in 2011, where I was affiliated with trading books that lost 100 million dollars in the in the last quarter of the year. So we had a very big position built up ahead of the, the the debt ceiling debacle. And needless to say, I’m not a tea party fan because they totally screwed the pooch there. And if you go back and look at the SMP, you’re going to notice some chop for about a week after that kind of five by those choppers week and then we kind of went off that shop. I’m not gonna take credit for it, but that was me and Goldman Sachs. So that was us getting tapped out of a pretty big position at that point in time. And so I had had kind of legacy stress built up you know, Black Creek was great and you know, awesome experience and unfortunately not an experience that didn’t end the way that I wanted it to. And, you know, that was a stressful experience as well. I was in the middle of divorce my so when I was starting my business so like, my marriage was crumbling. My business partners were my realtors when I moved out to Denver, who were also best friends with my ex father in law. So what ended up happening was when I got separated, they led me to believe that this was going to be okay. Obviously it wasn’t but they led me to believe it for too long so it was negotiated into my settlement agreement. And then what ended up happening was like we talked about, you know, I got split out and kind of launched my company in the middle of December 2016 because that’s when that kind of dissolved terrible time to start real estate and I picked up the phone on January 3, and just started my cold calling for four hours a day. Like I said, you know, this was cold calling and coffee appointments and cold calling and coffee appointments until I found a deal. got on the market. My first listing ever a blue pebble was a cold call to an expired in Kiowa Colorado. For those of you who don’t know a Kiowa, Colorado is it’s an hour and a half south east of Denver. It is in the middle of nowhere. But I drove an hour I’d never done a farmer. I’ve never done a farm deal before. I’ve never done like a horse deal with a horse property. No, no, where am I just need to I need to eat. Right. And yeah, I mean, that was like terrible, like just a terrible experience. But we got to catch it. And so the learning lesson, I think, from all this right is I think, if you put your head down and you isolate and you make your focus, very narrow, you can get pretty much through anything. Right? Like, there was a lot of stress, a lot of other stuff going on with me. This is, you know, a pretty this is the end, you know, 2016 was the end of a multi year fall for me in terms of kind of what Wall Street And kind of how that all went down. And what I would say is, you know, my life got very simple, right? It was fine and agency and do everything you need to do until you get an agency side, right. And that’s basically what I did. And so I think the learning lesson for me was when life gets hard focus, right? Because you can focus on the one thing that you need to do, or the one leading indicator, or the one thing you need to move, there’s a great book called four Disciplines of Execution. If you’ve never read that book or heard of it, everyone should be buying a copyright now, because it’s just an incredible book in terms of how to how to put that focus in and what goals we’ll be focusing on. And so yeah, I mean, that that was a really great transformative experience. And so you know, finally anecdotally, so I got a one of my friends for voting present. I gave me a credit Swiss gold bar, you know, like one of those little one ounce gold bars and I said, Come on, it’s like Haha, like, here you go. Remember memories right? And so luckily my accent forgotten about that as when we were kind of dividing our property. So you know, I had this thing like Yeah, yeah. That’s that’s worth something. I had an ounce of gold I 1500 bucks, right? And so I literally told myself, I’m going to spend every dollar I have to make loopable work and if I’ve spent all that money and it doesn’t, I’ve got this gold bar, this will be my gas money back Chicago, I’ll move on to my parents. And that was that was literally it. I love it. I mean,

Gabriel Petersen 27:32
it you know, it sounds like you went through one of the most trying experiences anybody could experience. I mean, just, you know, very, very, you know, it’s one of the troughs it’s one of the troughs of life, but you came out the other side and you had this gold bar. You said, I’m gonna burn my bridges. I’m going to do what I set out to do. If it doesn’t work. I got this bowl gold bar, it’s going to take me home. And one of the things that I pulled out of that is that you said you did four hours of cold calling a day in order to get this going and that is It’s very inspirational, because if anybody has ever done cold calling before it is hard getting nose so often can be, can be draining. So four hours just goes to show you. If you focus and you just keep pressing on, something’s gonna happen. You’re gonna get to the other side, you’re gonna create blue pebble group, which now has multiple brokerage fix and flip and property management company coming soon. So I’m glad you’re on the other side. I’m glad you’re here with us today. Thank you, man. Um,

Jared Frost 28:28
if you don’t mind me interrupting real quick, you know, the cold calling is not that bad. Like, I get why people don’t like doing it and I totally get why. You know, I totally get why people put up a fight, right? However, it’s an incredibly efficient tool. Even when they say after you Don’t ever call me back and hang up like, they’ll never remember you ever right? And I would even argue that when most people are cold calling and this Something I’ve been coaching my team on, you know when most people cold call they’re calling for sales, right? Hey, I see or whatever right? Hi this is Jeff Rossen with Keller Williams Realty I recently noticed that your home fell off the MLS and undoubtedly I’m calling today to find out when you’re planning on hiring the right agent for the next for the job sell your house right that’s a script all the Keller Williams things, right that’s a sales script. Right? If you approach it where you’re trying to help people. Hey, mister mister seller. Look, I’m sure you’re getting dozens of calls out there right now and I’m not the first call you’re getting I am the first call is going to tell you why your house didn’t sell. Do you have five minutes to just talk to have a conversation be about it? Right? Oh, yeah, absolutely. That’s crazy, right? If you approach it from contribution, if you approach it from abundance, if you approach it from building relationships, building rapport, right, separating yourself and the other 80 idiots we’re making that same call, you will have success. Right? It’s just that requires a higher level of knowledge requires a higher level of care. And most of the people in our industry can’t do it. And that’s why they complain about, right? If you want to build a database, if you want to build a nurture funnel, if you want to build a pipeline, there is no better way to do that besides cold call, period.

Gabriel Petersen 30:09
I love it. And I like that you said, I mean cold calling when I first got into it. I did I did. We do multiple mobile home and RV parks. That’s what our especially is here. So I’ve called plenty of Park owners. And when I first started is just it dragged on me. But you’re absolutely right. If you approach it from a perspective of giving, for just, you know, I’d pick up the phone and I’d go Hey, I don’t know you guys own this park. I’ve noticed you on this park. Are you interested in knowing what it’s what the value is? We, we evaluate properties, and we’re just thought I’d give you a call to see if you’re interested in getting given the estimation. A lot of times you will be like yeah, yeah, of course. What is it? So then I take them through the script. And if you approach it from that giving perspective, from the abundance perspective, it definitely makes it a lot easier and it works. So I’m glad you said that. And you don’t have you. Yeah, exactly.

Jared Frost 30:59
People don’t Say after you say, Hey, take me off your list, right? Because you know, you’re really trying you’re coming from contribution, like no one’s gonna say after you for trying to help me, right?

Gabriel Petersen 31:08
Yep, absolutely. Awesome, Jared. Well, we are closing out on the very end here. Before we leave though, I want to say thank you very much for coming on. I appreciate it all the wisdom you shared, I’m sure everybody that’s listening and watching did as well. Thank you, man. Absolutely. Absolutely. If somebody wanted to get in contact with you, what would be the best way for them to do that?

Jared Frost 31:29
Yeah, I appreciate that. So my email address is Jay frost like my name JFRO s t at Blue pebble ar e.com. So it looks like blue pebble or.com. The way to call me is to call our office line at 720-526-2583. A Shelby should pick up who is our amazing client relations manager. If you call during business hours, just ask for me. Otherwise if you can catch us outside business hours Just feel free to find me on our directory should be really simple. You’ll get connected with me straightaway.

Gabriel Petersen 32:05
Perfect. So there you go. If you want to get in contact with Jared, go to blue pebble army Blue peddler.com or reach out to him on the phone or if you’d like, I’m going to put his LinkedIn profile in the show notes, you can click through there as well.

Jared Frost 32:20
Actually, I really appreciate it, man.

Gabriel Petersen 32:22
Absolutely. Thank you for coming on for everybody listening and watching. We look forward to seeing you guys on the next episode. Thank you for joining us on The Real Estate Investing club. If you feel we provided value, we would appreciate it if you hit that thumbs up share with your friends online, whatever it may be. If you’d like to share or partner with us on an investment deal, we are always looking for quality projects, go to http://www.hp real estate investing club.com get in contact with one of our partners. Otherwise, I hope you guys have an absolutely fantastic day and I look forward to seeing you on the next episode.

Transcribed by https://otter.ai

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ABOUT THE REAL ESTATE INVESTING CLUB SHOW

The Real Estate Investing Club is a podcast and YouTube show where real estate investing professionals share their best advice, greatest stories, and favorite tips in real estate. Join us as we delve into every aspect of real estate investing – from self-storage, to mobile home parks, to single family rentals, to real estate syndication!

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Topics you’ll learn more about throughout our episodes:

– Using the BRRR strategy to buy income properties

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– Using hard money and bridge loans for real estate investments

– How to bounce back from bankruptcy and build a thriving empire in the wake of failure

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– How to do out of state investing without risking your shirt in the process

– Going from broke to 300+ deals in a month (really!)

– Investing in commercial real estate

– Stories about brand-new investors and the lesson’s they’re learning as they take on their very first flips and rentals

– How to use Google Ads and Facebook Ads to crush it in off market real estate marketing

– How to fill your pipeline with off market deals using direct mail, voiceless mail drops, and text blasting

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