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Today David Dodge invited Nick Perry in the show. Nick’s main business is real estate, 7 Figure Cartel. If you are in with 5 to 10 deal a month then listen to this episode and connect with Nick Perry.
Things that will cover in this episode:
- Who is Nick Perry and what he’s been up to?
- How he started his real estate journey.
- Lead Generation
- National Virtual Wholesaling
- 7 Figure Cartel
David: Hey guys. Welcome back to the discount property investor podcast. I’m your host David Dodge. Today, I have invited Nick Perry to the show and Nick is doing big things. I met Nick a couple of weeks ago in Key West, Florida, we were basically getting together with a big group of guys to you know, basically, talk best practices and share some of our techniques when it came to investing and wholesaling and specifically educating and coaching people, and I was really impressed with Nick and I’m really happy to have Nick on the show. Nick, welcome.
Nick: Honored, excited to be here. Ready to drop some knowledge so thank you for having me on David.
David: Absolutely. Nick, tell everybody a little bit about who you are, what you’ve been up to. By the way, Nick’s business I believe is 7 Figure Cartel, is that correct?
Nick: That’s it, yup.
David: That’s it, awesome.
Nick: Yup, 7 Figure Cartel but my main business is real estate, you know we do anywhere from 40 to 50 deals a month all over the entire nation. I’m here in Miami, Florida, my company is actually in Austin, Texas so my entire team, my CEO, my acquisitions, my dispositions, those guys are there in Austin, they’re you know, cranking out deals anywhere from two to four contracts a day and yeah we’re doing everything nationwide remotely so it’s been a heck of a ride to get here, but you know it’s been- I’ve been blessed with good people, good processes and yeah some good mentors that have poured into me along the way.
David: Man, that’s awesome. When’d you get started in real estate?
Nick: I started 2014, that was basically- I was at a pivotal moment, I moved to Austin Texas with no job, no connections and I had like 7 grand to my name and so we all know how fast 7 grand goes in the real world. I didn’t have a lot of time to figure things out and I knew I didn’t want to work for anybody for very long so I got really big into trying to find what my next move was going to be on YouTube and I came across real estate wholesaling and went super deep on that.
David: No way, who was the guy? Who was the main guy you started following to learn it?
Nick: Sean Terry.
David: Nice, nice.
Nick: So yeah, he- I started just you know, binge-watching his content and it made a lot of sense to me. I think at a very third grade level so yeah, contracting a property for a certain price and then selling it to a higher price to an investor was conceptually easy to me and I realized you didn’t need credit and you didn’t need money so I qualified and I jumped in you know, head first and started taking all the actions in terms of marketing that you would do back in 2014, direct mail-
David: That was in Austin?
Nick: In Austin, yeah.
David: Wait so when you first started, you were probably doing local, right?
Nick: Yeah, so I was just looking for deals in my backyard in Austin and surrounding areas which was an uphill battle. I didn’t know any better at the time but Austin’s not the most conducive environment for wholesaling. It’s very competitive, very high cost per deal there. It’s a lot like San Diego or one of those you know, higher end markets and I forced myself to make it work so it took me 11 months and 104 appointments before I even got my first deal. Yeah, so.
David: Wow, say that again.
Nick: Yeah, 11 months and 104 appointments, so I struck out 104 times before I got my first deal.
David: Consistent persistent action. Man, Nick that is really really cool, bro. I mean, the fact that you are now crushing it 40, 50 deals a month, you didn’t give up. Like 9999 people in my opinion out of 10,000 would have given up after a hundred appointments and 11 months, bro that is awesome.
Nick: It was brutal man, it was brutal. It was just like you know, I had already gone- I had already spent so many hours, you know, and so much money trying to make the business work. You know, out of appointment 75, I think I came back and I was like what am I doing with my life, right? Should I throw in the towel and-?
David: Is that 75 appointments?
Nick: Yeah, I was like- I was in so deep that I was like I didn’t come this far just to fail so it’s gonna- I’m either going to be successful or it’s going to kill me, there’s only two options here so I just burned the bridges and just kept it rolling.
David: Nice. I love it, man. This is amazing. This is really, really cool. So, after you got that first deal, how long did you continue to do deals locally before you decided to go with the virtual model that you do now?
Nick: Yeah, for- you know, this was 2014 so I did a local model for a full two years like up until 2016, and the shift happened because I was doing a lot of search engine optimization to get my website to rank on the first page of Google and I did a good job with it. I was doing SEO myself, I was getting us to rank on you know, a lot of front-page keywords on Google and we’re getting a ton of traffic. The problem was the traffic was not coming from Austin or anywhere near Austin, I was getting search engine traffic from all over the United States and I had no idea what to do with them, right? And so I would just throw them out, throw them out. I was throwing out all these leads and I was getting pretty low on leads in you know, my backyard and so I had to- you know, me and Brandon who still works to me, he’s the CEO of our company was like, yo let’s take a shot on some of these out of state leads. This is back in 2016, you know, before anybody was doing that and I was like all right let’s do it, and very quickly we got our first like out of state contract that it goes in like Harrisburg, Pennsylvania and then made $12,000 there. That was proof of concept. And then we went to Ohio, we just kept- we kept going and then we shifted our entire business model to just doing national and we’ve been national ever since.
David: Man, that’s amazing. That’s so cool. Tell us a little bit about your team if you don’t mind. I’m just curious to see, you know, what it looks like behind the scenes for somebody that’s doing 50 deals in a month.
Nick: Yeah so we keep it pretty tight you know, for the volume that we do, we got a pretty small team. We got five acquisitions, we’ve got three dispositions and then my CEO. We’ve got some support staff like VA’s and things like that to help out with administrative work. I have my executive assistant but like our core sales team is five acquisition, three dispositions and then Brandon who’s the CEO of the company and then yeah I’m the- I’m the owner.
David: Man, pretty simple.
Nick: Yeah, yeah.
David: I like it. A lot of people try to complicate it, they got a guys to do this and that. You just have it bulked into acquisitions and dispositions or you’re running the show. I love it man. That’s amazing.
Nick: Yeah, I mean all we are is an inside sales you know, organization.
David: Right. Are you guys 100% virtual at this point?
Nick: 100%. My guys- none of my guys have ever seen-
David: You’re not doing anything locally then?
Nick: Yeah. None of my guys have ever seen the inside of a motivated sellers house.
David: No way. Okay, let’s talk about leadgen. What are you guys typically doing to generate leads? That you had said that the reason that you kind of fell into this, which is super cool, is that you know, you were getting leads from the SEO efforts that were outside and you’re like let’s just take a stab at it, right? Are you still focusing a hundred percent on SEO or are you guys focusing on other things as well?
Nick: No so, SEO took a nosedive for us. I remember like it was yesterday, it was like August 17th 2017, Google did like an algorithm update and sent my ass all the way to page like 66 on like all my keywords.
David: Oh man, oh.
Nick: All that hard work, all those late nights building back links like it was just you know, gone over night and that’s when we really got heavy into PPC. So, we’ve been doing PPC now, you know, basically the entire time I’ve been investing but we’ve really cranked it up in 2017 and we blanket the entire nation with our pay per click advertising.
Nick: So Google, Bing.
David: Is there any places that you don’t target or is it just coast to coast USA?
Nick: Yeah , so we blanket the United States.
David: Holy cow.
Nick: So some people target, you know, Austin or Philadelphia or certain state but we just open our targeting up to United States.
David: Holy cow, that’s amazing. That’s really, really cool. What are you guys typically doing with the deal? Is everything wholesale? Are you doing any joint ventures with people? Are you doing any rehab and anything like that as well?
Nick: Yeah, I mean I’ve got 13 flips going on right now. Right.
David: Holy cow, that’s awesome. Now those are local I’d assume, right?
Nick: No, they’re all over the country.
David: Those are all virtuals?
David: Holy cow, so how do you get yourself into a situation where you can make 13 of these happen like that?
Nick: Yeah, so we cherry pick our very best deals, right? We still wholesale the majority of our properties but if we see something that’s got you know, a really good spread on it, we know the days on market are low, we know that you know, we’re going to be able to close on this, not have to do a full blown rehab on it, we’ll look at it and we’ll just take it down. A lot of these properties that we’re flipping like it’s, we’re not even- we’re not doing much more than carpet, paint, maybe some countertops, some landscaping.
David: It’s pretty easy to find a local contractor to build- to do the minimal stuff.
Nick: That’s the key is we’re not doing full blown-
David: That’s the key, right? Cuz if you’re going in and trying to give somebody 60 or 80 grand in a midwestern region where that’s going to go really far away, so many things can happen, right? But if you’re just doing the minimal stuff, it’s- it makes it easy. I love that approach.
Nick: Yup, we’re not messing with plumbing and electrical and you know, redoing floor plans. We’re just doing the bare minimum and then you know how crazy the market is right now, we just stick it on the MLS and we’re multiple offers usually, you know, within a couple days.
David: So are you guys using that method to sell properties then as well?
Nick: Yes. Yeah, we’re heavy with utilizing the power the MLS-
David: No, do you find a local agent then? Cuz if you guys are nationwide and then you know, let’s say 9 am you get a lead in Oregon and then 9:30 in the morning you get a lead in Tennessee and you get them both locked up, like you got to have licensed people in those regions, right?
Nick: Not necessarily, no. So like I said the majority of everything we do is wholesale, right?
David: Right, right, right. Okay, got you.
Nick: So I’ve- you know, we’ve built a proprietary system on dispo to be able to get rid of all these deals.
Nick: Yeah, we do- we’ve got a cash buyers list that’s 1.8 million people.
Nick: And this is like real cash buyers list, it’s not like some you know, BS realtors list. It’s real cash buyers so that’s a big part of it. We use a tool called InvestorLift.
Nick: Which helps out quite a bit and then we’ll also, you know, list our wholesale deals on the MLS is we need to.
David: Right, so in the event that you need to list them on the MLS, are you finding a local agent?
Nick: Yeah, we’ll find a local agent and then we’ll just- we’ll either use a flat fee brokerage or use a local agent that can facilitate getting it online for us.
David: Man that’s awesome. That’s really really cool, very cool. Well tell us a little bit more about 7 Figure Cartel Nick.
Nick: Yeah, so I built the 7 Figure Cartel really just because, you know, I’ve been to a lot of masterminds and what I noticed was I was getting a lot of the same questions and the same direct messages, people asking me you know, a lot of the same things and I wanted to be able to give back and provide value and what I’ve noticed is like a lot of people are stuck in the same rut that I was from like 2015 to 2018 and I call that wholesaling purgatory where you’re doing like 5, maybe 10 deals a month and you don’t really start seeing that lifestyle money until you get to like the 20, 30, 40 deals a month and I felt like I was never really getting ahead like I was spending a lot of money, I was making a lot of money but you know, my account was like staying the same.
David: Yeah, your income’s going up but your expenses are going up too so it’s like your revenues are awesome but profits are what matter.
Nick: Correct and you know, it took me a while to really break out of that and it was just a few like minor shifts really, you know, lead generation, you have making me- yeah, there’s a lot of things you need to do on acquisitions to dial it in and same thing on dispositions. So I built a community basically for people that are already active in the business, it’s not for everybody, I don’t have anything to help like new investors out, but your guys that are already crushing it right now that are just looking to get to that 7 plus figure mark, that’s who I’m working with. We got- basically everything we do is a gear to helping them get to that 7 plus figure as quickly as possible.
David: I love it, man. I love it. Where would people learn- where would people go to learn more about that and connect with you to find out more as well?
Nick: Yeah, you can just check it out, it’s just 7FigureCartel.com so number 7 yeah and then figurecartel.com.
David: 7FigureCartel.com, nice. We’ll get that edited into the show notes and guys again, if you are looking to get out of purgatory, I know exactly what Nick is talking about because I was there and I- and some could argue that I’m still kind of there, I’ve pivoted out into being more of a landlord and acquiring properties and doing more creative things than focusing 100% of my time and efforts on the wholesaling, but the wholesaling is kind of- I’m in that that zone man, I get it so taking people from the, you know, 5 to 10 deals a month up to 30 or 40, that’s really really cool man. That’s really cool that you’re able to do that and help these individuals out. Check it out guys, 7FigureCartel.com. Nick, thank you so much for coming on the show today. What would be some- you know, what would be some advice that you would give people that you know, are looking to get out of that? Just you know, from the hip, they’re looking to get out of that 5 to 10 deal a month, what are some of the things that you teach people in the group to do immediately? Like what’s the first thing?
Nick: The biggest thing is the pay per click advertising. Yeah, because it all comes down to lead generation. If you don’t have any- if you don’t have your lead generation dialed in, then you’re not going to be able to scale your business. You know, a lot of people are doing telecommunications, SMS, RVM, cold calling and the reason we’re able to kill it is because you know, if you’re doing those old school methods, it might take you 40, 60 leads to get a deal when it only takes me 10 to 12, so it’s not that my- I’m so much better, it’s just you guys are working four times harder than I am to produce the same outcome.
Nick: Getting that dialed in, you know, making sure that you have a team of rock stars, you know. We teach a lot about hiring too. I worked at Indeed before coming into real estate so I know how to you know, gain traffic from Indeed, we’re really good on hiring and you know, that’s a big part of it. As a business owner, you’re always going to be hiring people so you might as well get good at it. [inaudible] hire some rock stars.
David: Man, I love that you said the marketing and the AdWords and the pay per click man. Do you have a course on AdWords?
Nick: It’s all in the cartel.
David: It’s all in the cartel?
David: Awesome, very cool, very cool.
Nick: Our entire blueprint, everything we do is broken down in detail in the cartel and then yeah, we meet every couple weeks on Zoom just like we are right now to make sure that you guys are dialing it in properly and you know, moving everything in the right direction.
David: Man I love it, that’s so cool. Nick, I know you got a busy schedule. Thanks for coming on the show today, much appreciated. Guys, go check out 7FigureCartel.com, connect with Nick if you are in the 5 to 10 deal a month purgatory. Wow, virtual wholesaling nationwide, build a team around it and get that lifestyle. I mean, that’s kind of the message, right? Get the lifestyle that we all go- we’re all looking for. We all get into real estate for freedom and then we leave our 40 hour a week job when we get to the 80 hour a week, right?
Nick: Exactly, yup yup.
David: Wow, wow. So I love it, man. Nick, that’s really cool. I’m grateful for your time. Thanks for coming on this show. Any parting words for the audience?
Nick: That’s it you know, get plugged in if you guys need help, you know, you can reach out to me on Instagram, you know, shoot me a direct message if you have any questions. My Instagram’s just Nick Perry and then REI like real estate investments, so just NickPerryREI. Yeah, I’m happy to help.
David: Awesome. Connect with Nick, NickPerryREI on IG. Thanks for listening guys. Until next time, signing off.
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