Bonus Module Interview with Kelli O’Keefe Part 3

by | Mar 8, 2019

And I love the computer. We all would be lost without it. But don’t sit behind a computer and think investors are going to find out what you’re doing. Send letters, get out there, do meetings, make follow-up phone calls. Don’t just rely upon the computer to get investors. Like I tell wholesalers who are sending out a letter, there are other people doing it. Make yours different.

It’s a beautiful business once you start. And then you’ll meet people you can put together. So what I’m saying to you is just get out there. You have to. Don’t rely on the computer. Get out there and find those meetings. Everybody has them. There are always investor meetings going on.

Gary: It’s like Conrad Hilton said, “Successful people take action.” I use that example in my free class at the market centers. That’s the biggest thing I’ve seen hold people up. Down south we used to have a saying, “fix in’ to get ready.” You know, it’s like we’re always fixing’ to get ready. So I say, “Quit getting ready. Get your butt out there and get going, you know?”

Everybody knows I’ve owned multiple businesses and I’ve owned a lot of properties. The reality is though, even though I teach that stuff too, I’ve made more money in commission income than from rental income and income from my other businesses. And when people learn that, it really freaks them out.

When I was out there in the field investing, I let people know it wasn’t a gesture. “I’m not competing with you. In fact, every property you see today, whichever one you want, you’re going to buy it. You can buy two or three if you’re able to do that.” Then I do tell them that if there are any leftover properties, I would like to refer those to some other investors. Kelli: I do the same. I fully agree with you. It doesn’t mean you can’t invest as a realtor. But just keep something in mind when you’re building your business and starting. Because a lot of realtors make the mistake of saying, “I invest,” thinking, “Oh look, I know what I’m doing.” But what happens is that the other person is going to wonder, “Are you going to take something away from me for yourself?”

Gary: Yeah. Especially when you’re having them do the analysis. That’s one of the core principles of my program. Your investor will do the analysis. You just give them all the tools and all the information and help them figure out how to do it. But they should do the analysis, not you.

Kelli: I think we can agree on one point I’ve noticed doing this business. I call it where I take my foot and I push them out of the plane. You’ll find once you’re doing this that a lot of investors like to talk about it, think about it, look at properties. But they’re afraid to pull the trigger.

The way I help is to say, “Well other investors are punching their calculators thinking ‘Should I do this?’” Because that’s the engineers. They’re going to be analytical and they’re going to think about it and they’re going to change their mind. So what I tell investors is, “While you’re thinking about it, I’m going to put in an offer and tie it up.” You’ve got to get them to do that offer. I give them a few days, because I have an out in my contract. The key is to tie properties up for your investors and help them decide.

But you’ll find it depends upon the personalities. Your analytical types are going to have you running all over the place. You need to encourage them to make an offer. You don’t want them just to make offers, but a lot of investors spend so much time with books and CDs. I tell them, “Look. Don’t spend your money on that course. Take that money and put it towards your first property.”

I had a woman who spent $35,000 on a coach who was sitting in front of me. I asked, “Where’s that $35,000?” She said, “I don’t know. I need your help.”

So you know what I did? Two weeks later, a six-unit property landed on my doorstep. It was right near the university. The seller only wanted $120,000. I looked at the woman and said, “What are you going to do?”

She said, “I’m going to jump out of that plane.” She went to the bank, gave the $5,000. She still owns that property now and she is cash flowing near the university. I mean, I have to make sure it works with the rent rolls and all that, but it’s that one investment. You’ll find the fortune builders.

God created Google. If you don’t know something, if you don’t know what a cap rate is or you don’t know what they’re talking about, just Google it and find out. Don’t stand there and say I don’t know. I have a degree in business and have a degree in psychology. I don’t have a degree in investment real estate. But I listened, I took notes, and I Goggled things and that’s how I did it.

Wholesaling So Everybody Wins 11

Read little things like The Millionaire Real Estate Investor and you’ll catch it. It’s really not that hard it. Read little things like The Millionaire Real Estate Investor and you’ll catch it. It’s really not that hard. It’s all about income and expenses, ARVs and buying for the least cost. You don’t have to know it all. Build yourself a team.

Gary: You definitely are passionate about what you do. It comes through in your voice and the words you use. So speaking of passion, what’s Kelli O’Keefe’s big why? What is it that drives you to keep going? I know it’s not just money because I know you do pretty well there. But is there a reason why you want the money? It could be the fulfillment you get from serving people. But have you tapped into your big why? Like why does Kelli O’Keefe get up in the morning and keep doing what she’s doing?

Kelli: My big why is a little bit of everything? I think everybody’s is. It isn’t the money. I love getting properties. I’m competitive by nature. I love the business. I love being able to partner people to make their dreams come true. You know, I have a family and I have a lifestyle. And I love to pay it forward. If anybody goes on my Face book page for Kelli O’Keefe and the O’Keefe-Mary Investment Team, I love to pay it forward. Over my time, getting into HR, I had three gentlemen who gave me an opportunity that opened doors. And I took it. I’m a firm believer in paying it forward to people randomly. Others have impacted me, and my biggest why is I love to be able to pay it forward to other people so they can do the same. I love mentoring and I love assisting.

Gary: Wow. I love that. I appreciate you sharing that. Talk about paying it forward! That’s an example of what we do.

One final 15 minutes of fame question. If there’s one simple thing—since most of our readers are either new, or sitting in classes but haven’t taken action—that you could share with people about where you were 10 years ago, what would it be? If you looked back at 10 years ago when you were just getting started, and you could help someone kind of leap-frog or fast forward to save a lot of pain and frustration and money too for that matter, what would you tell them?

Kelli: I think what you have to do is get off your chair and do something. Don’t be afraid. If you want to be successful, you’ve got to talk the talk and walk the walk. From then to now it’s been an awesome journey. If anybody says they haven’t made mistakes, they’re lying. The beauty is in today’s world of investment there are resources around that didn’t exist when I first started. What you’ve got to do is just put yourself in it, say you can do it, and have a positive attitude. It’s right on my license plate: positive attitude.

I coach kids and the thing I have to tell you is that when the team lost, I didn’t blame them. Instead I focused on what I was doing right and what I was doing wrong for them. It’s the same with your business. Anybody can make excuses. If you want to do this—and it’s an awesome business and I wouldn’t change it for anything—sometimes I have to add to my team in order to take care of everybody. It’s having a positive attitude. And it’s getting up and it’s doing it and having the initiative.

If you’re thinking about starting this—which a lot of realtors are when they talk to me—just get up and go do it. No excuses. Positive attitude. You can do it. That’s the key right there, from 10 years ago to now. But people getting started today have the advantage of cutting the curve in half. There are so many resources out there. And investors are all around you. It’s a market niche that you can have if you so choose.

Gary: Attitude is everything and it all starts with belief, actually believing that you can do what you want to do. Then your attitude just falls right into place. This has been awesome, Kelli. I know everybody appreciates what you just did here. It’s a huge contribution and it definitely comes from your heart. You serve with a servant’s heart. We appreciate it.

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