On Episode #32 of the Profits Over Wages Podcast we talk to Jeff Schechter aka “Shecky”. He has been a self-employed entrepreneur his entire adult life, starting his first business right out of college, and over the years has developed expert sales and marketing skills. Shecky first started investing in real estate in the 1980’s when he began flipping homes that he lived in. In 2016 he co-founded High Return Real Estate. High Return Real Estate is a turnkey real estate investment company in Indianapolis that helps the average person realize consistent 12-18% returns with fully-rehabbed, hands-off, professionally managed, turnkey residential rental properties. HRRE was founded with the belief that real estate investors shouldn’t have to spend a lot
of time and money learning and implementing all of the steps necessary to have a good cash-flowing property. HRRE has been featured on CNN, NBC News, BBC, FOX, Google News Lab, and Forbes. Shecky also co-hosts a podcast - The High Return Real Estate Show. In addition to investing, Shecky also operates a private consulting practice.
On this episode we go in-depth about investing in turn-key rental properties, the pros, the cons, the numbers, lead generation, management, etc. We also talk about Jeff’s DFY (Done For You) model, and how to effectively convert leads into clients.
- [02:16] How Jeff got in the turn-key rental property business
- [05:33] Jeff's early beginnings in the real estate industry
- [08:13] The pros and cons of investing turn-key rental properties
- [09:14] We talk about Jeff's DFY (Done For You) model
- [11:12] What is the typical ROI when it comes to turn-key rentals?
- [12:57] What do the numbers look like on a typical deal?
- [13:42] Where do you guys source your deals from?
- [14:24] What is the difference between a turn-key provider and a turn-key marketer?
- [19:11] Jeff talks about how all their customer leads are coming in organically and how they got there
- [22:19] Jeff’s background in digital marketing
- [26:20] We talk about the law of attraction and Lane Ethridge’s story about carrying a yard stick
- [27:45] We talk about how Jeff’s background in digital marketing helped in his current business
- [28:23] How to effectively convert leads into clients
- [31:50] Jeff walks us through the HRRE DFY process work from start to finish
- [36:15] What type of communication happens after closing when it comes to property management?
- [37:26] What are HRRE's internal days on market?
- [37:40] Jeff gives us an insight into why his company has such low internal days on market?
- [40:42] If they’re such good deals, why do you not just keep them instead of selling them?
- [43:38] How much will HRRE stand behind the warranty provided to a client?
- [53:19] What do you wish you knew before started?
- [54:43] What was the worst piece of advice that you ever got?
- [56:06] What habits helped make you successful?
- [57:46] Why do you do what you do? What gets you through the tough times?
- [01:00:00] What is one thing that you find to be true that most people would disagree with?
- [01:02:19] Do you have a favorite failure? Is there one that set you up for a future success?
- [01:04:12] What’s one piece of advice you’d give someone just starting out?
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